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Please Note: NO RESERVE AUCTION-BID STARTS AT ONLY $1!!! HIGHEST BID AT THE END OF THE AUCTION BUYS THIS BEAUTIFUL PROPERTY(in accordance with ebay rules)! SERIOUS BIDDERS ONLY PLEASE!!! DO NOT BID UNLESS YOU HAVE DONE ALL YOUR DUE DILIGENCE AND HAVE ALL THE FUNDS READY THERE IS NO FINANCING - THIS IS AN ALL CASH TRANSACTION! YOU MUST EMAIL US YOUR CONTACT INFORMATION AND ASK PERMISSION TO BID IF YOU HAVE LESS THAN 5 FEEDBACKS!
The Buy it now price of this property is $22,500. We are open to all reasonable offers prior to the end of the auction (and can end the auction according to eBay terms)! Bidding starts at only $1 and there is NO RESERVE which means the Highest Bidder gets the house for whatever the final Bid is. Feel free to contact us with your Best Offer and we will consider it. No Reasonable offers will be refused!
A VERY NICE LOOKING HOUSE IN NEED OF TLC BUT WITH MUCH POTENTIAL!
DESCRIPTION OF PROPERTY: This picturesque Property is a large House located in Buffalo New York, it has 3 Bedrooms and 1Bath on a large 4200sq. foot lot. There is a shortage of these kinds of houses. It can be rented out as a Section 8 Rental for $750 a month (Government Pays Rent to Landlord Directly) in our opinion. The house is in need of some cosmetic repairs to make it rent ready. We have not had it inspected but include lots of pictures of the House. The exterior is in Good Condition as you can see from the pictures. It has newer electrical (circuit Breakers), it has some Copper and PVC plumbing. We can introduce you to a Handyman that we have worked with in the past who can help get the property rent ready and who can then find a hand picked tenant!
* Nice looking House with 3 Bedrooms / 1 Bath. In our opinion it could rent as section 8 housing for $750 a Month which translates to $9,000 a year. The Handyman we introduce you to could get them rent ready and find a hand picked tenant!
* This House COULD be rented out as SECTION 8, where you receive the rents directly!
* Updated Electrical Circuit Breakers!
* Lots of Copper and PVC Plumbing*
*Fuel Efficient Base Board Heat*
* Nice Big Rooms!*
*Large section and house, ideal for a family needing space*
* The Tenant Would Pay Utilities - Gas and Electricity
* We could introduce you to a Handyman/Manager who could get it Section 8 rent Ready!
* The Landlord has to pay for Water, Garbage Collection, Insurance and taxes.
*Full Basement for tenant to use.
* GROSS YEARLY INCOME ESTIMATED AT $9,000 a Year!
RENTAL INCOME: This House has 3 Bedrooms and 1 Bath. It is our Opinion that the House can rent for $750 ($9,000 on a Yearly basis). Please do your own due diligence for Houses of this size in the area. The House can be rented out as a Section 8 Property where rent is Paid directly to the owner from the Government!
EXPENSES: Current annual property taxes on this property are $263.56 and Sewer Taxes are $24.81, we estimate other expenses on this property are low. It is the Custom in this area of Buffalo for a Tenant to pay for Gas and Electric leaving the Owner with just water, taxes, garbage pick up and insurance to pay for. We estimate water usage for a Single Family to be approximately $20 per month; in addition the Landlord will typically pay for Garbage Collection which runs approximately $20 a month. The insurance should run in the area of $300 a year which translates into approximately $25 per month. Tenants typically take care of the lawn and of snow plowing so the only other cost should be management which will run about 10% of Gross which is $75 per month if rents are $750 a month. These figures reflect our opinion only and are meant only as estimates, please do your own due diligence as this is an "AS IS" Sale with no Guarantees or Warranties of any kind (see terms and conditions below). Total expenses including management according to our estimation should be approximately $1968 which leaves a net profit of $7032 after Expenses!!!
AREA: This Large House is located in Buffalo, New York which is the second largest city in New York State after New York City. The property is not far from the 33 Freeway and Downtown Buffalo (Five to Ten Minutes). The House is within walking distance to inner city shopping, bus lines, and schools. It is near a Major Hospital and the local food market - Convenience, Convenience! In addition this property is located only 25 to 30 minutes from Beautiful Niagara Falls which already has a major Casino and Hotel up and running. The Buffalo/Niagara surrounding vicinity is trying to and has been attracting businesses. Such businesses as Geico Insurance and Blue Cross/ Blue Shield which will open major offices in Buffalo that will employ some 1100 people. Buffalo has a lot planned, there is a major waterfront Project being planned for Downtown Buffalo as well as a Casino. Please do your own due diligence on the potential we feel there is in Buffalo and the rest of Western New York. CNN/MONEY JUST LISTED BUFFALO AS ONE OF THE 10 FASTEST GROWING CITIES IN THE UNITED STATES AND PROJECTED HIGHER PRICES FOR THE COMING YEAR!!! DON'T MISS THIS OPPOURTUNITY!!!
MANAGEMENT: If you wish the services of a property manager there is available a local manager that will manage your property for you approximately $75 a month (10% of the Monthly Gross)! We are completely independent of the Property Manager.
CONDITION OF THE PROPERTY: We require you to do your own Due Diligence and Not Rely on our Opinion. We did not have this property inspected. We have included lots of pictures of the House but, this property is being sold for very little and so we make no "Representations or Warranties” of any kind regarding the condition of the House. We estimate the cost of cosmetic improvements to be around $6000-8000, it may be more or less, but we believe this is a fair estimate. Once you close we estimate each unit would take a week to get ready and earning money!!! If an Appointment is made we will be happy to show the Property to anyone who wants to see it but Please Do not bid unless you have done your due diligence which means that you have already seen the house inside or you are satisfied buying it without a viewing. The property is being sold "AS IS".
DISCLOSURE: This auction is for The Full Purchase Price of This House and includes the land. The terms are stated below. This Property is being sold in “AS IS" Condition. No Warranties or Representations are being made or should be relied on; any statements made herein are merely our opinion and MUST not be relied on. WE URGE YOU TO CONDUCT YOUR OWN DUE DILIGENCE BEFORE PLACING A BID. This Property is being sold FREE and CLEAR of all Taxes and Mortgages and is being transferred by Warranty Deed. All bids are treated as BINDING CONTRACTS and should the highest bidder fail to close, if any and all legal actions will be pursued via Safe Harbor, EBay, their affiliates, and the laws of New York to enforce this contract. The taxes for this property are approximately $264 per year and the lot size 4200 sq. feet. The information contained in this website is deemed reliable but not guaranteed. The owner reserves the right to end this auction early in compliance with eBay rules.
TERMS: WINNING BIDDERS ARE REQUIRED TO CONTACT US within 5 HOURS after the end of the AUCTION. FULL payment is expected within 72 hours of the end of the auction via bank draft, money order, cashier check, cash or bank check only. Buyer to pay $1500 towards the attorney closing fees, title insurance, transfer taxes, back taxes if any, etc. Closing should be between 15 and 30 Days. We use a large law firm in the Buffalo area to handle the closing. You will receive a Purchase agreement from the law firm once you forward funds. We make sure things get done the right way. The Purchase Agreement must be fully executed and returned to the law firm within five days from receipt!!
CONTACT INFORMATION: Serious Buyers Only. You are bidding on The Full Purchase Price of this Huge Buffalo House - - We hope you have fun bidding! Please contact us with any and all questions prior to bidding. Again, WE URGE YOU TO CONDUCT YOUR OWN DUE DILIGENCE BEFORE PLACING A BID.
We wish ALL BIDDERS the best of luck - THANK YOU.
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