Absolute Nursing Home Online Only Auction
NURSING HOME* Investment Opportunities | AUCTION BEGINS TO CLOSE TUESDAY, JANUARY 28TH @ 5:00 PM
Absolute Nursing Home Online Only Auction
NURSING HOME * Investment Opportunities
AUCTION BEGINS TO CLOSE TUESDAY, JANUARY 28TH @ 5:00 PM
**BIDDING AVAILABLE THROUGH RES.BID**
CLICK HERE TO RECEIVE UPDATES ABOUT THIS AUCTION
Real Estate: The abandoned facility at 430 S Maple St., Bainbridge, OH 45612, presents a unique investment opportunity at the end of a quiet street, encompassing two city lots. Although the property has been vacant for some time and requires repairs, it holds significant potential for redevelopment or repurposing. Built in 1963, this structure has a footprint of 8,254 sq ft, according to the Ross County Auditor’s website.
The spacious layout offers ample room for various uses, such as residential conversion, commercial enterprises, or community-focused projects. Its location at the end of the street ensures minimal traffic and a serene environment, ideal for transforming into a peaceful residential complex or a bustling community center.
Additionally, the property’s sizable lot provides plenty of outdoor space, which could be used for additional parking, recreational areas, or future expansion. With a strategic vision and the right renovations, this facility can be revived to serve the needs of the Bainbridge community or as a lucrative investment property.
Seize this opportunity to breathe new life into a well-located, sizeable facility, and capitalize on its potential to become a cornerstone of the neighborhood. Whether you're looking to develop residential units, launch a new business, or create a community hub, this property offers a blank canvas ready for your innovative ideas.
Taxes and Legal: Parcel #’s 230002507000 and 231112661000 consisting of 0.6 ac. Located in Ross County and village of Bainbridge, Oh. Taxes are $7151.63 per year and will be prorated to the day of closing.
Open House: The property will be open for inspection on Thursday, January 16th 5-6PM. For additional questions, please contact Jon Mast at 330-763-3883.
TERMS: We require a non-refundable down payment at the close of the auction of 10% of the purchase price with the balance to be paid in full at closing within 30–45 days. There are no financing contingencies. Any desired inspections must be completed before the auction. There is a 10% Buyer’s Premium in effect for this real estate auction. 10% of the highest bid will be calculated and added on to the high bid to determine the contracted selling price. The buyer will be given immediate possession at closing.
Auction Conducted By:
JOSEPH MAST, AUCTIONEER - JON MAST – AUCTION MGR. * SETH ANDREWS, BROKER
WWW.RES.BID
TERMS AND CONDITIONS
1. Any person who registers or bids at this auction (the “Bidder”) agrees to be bound by these Terms and Conditions and any auction announcements. A bid placed by Bidder will be deemed conclusive proof that Bidder has read, understands, and agrees to be bound by these Terms and Conditions.
- There will be a 10% Buyer’s Premium added to the final bid, which is your final purchase price and the price that is recorded at the county auditor’s website.
- The bidding will be by the acre. Your bid price X the amount of acres rounded to the nearest 10th.
- Any desired inspections must be completed prior to bidding. This purchase agreement is not contingent upon the satisfactory state of any inspections required after the date of the auction.
- Sellers will provide a marketable deed and convey the property as per terms of the Real Estate Purchase Agreement.
- Property Sells “AS IS”
- Property sells subject to articles in the present Deed, Title, and any articles or notices of public record.
- Buyer will pay CAUV tax recoupment if any, due and payable after deed conveyance.
- Seller, through Seller’s title agency, shall provide to Buyer: Warranty Title, The Escrow Agent shall be chosen by the Seller, however, if required as a condition of the load, the Escrow Agent shall be chosen by Buyer’s Lender.
- Seller shall pay for the cost of the title search, deed preparation and county conveyance fees. Seller and Buyer shall each pay one-half of the Escrow Agent’s standard closing fee. If an owner’s policy of title insurance is selected, the buyer and seller will split the owner’s title insurance 50/50, including, without limitation, the additional cost of the premium for insurance of an owner’s policy, the cost of a loan policy, title endorsements, location survey, or other items required by Buyer, or Buyer’s lender. Buyer shall pay for all recording fees. RES advocates the use of title insurance in all real estate transactions.
- Acreage and frontage amounts, including lot markers, are approximate and subject to final survey. (If required)
- RES requires a nonrefundable down payment (earnest money) of 10% of the purchase price at the time of purchase. The sale is not subject to any contingencies for financing.
- Earnest Money Deposit is NONREFUNDABLE; the contract contains no provisions for contingency on financing. In bidding, you are asserting you have the fundings to close. In the event Buyer does not close in compliance with the terms of this purchase agreement, all earnest money shall be forfeited and paid to the Seller as liquidation damage.
- Buyer agrees to indemnify and save harmless RES, its employees, and agents, from any liability stemming from any incorrect information given or any material information Seller fails to disclose whether or not known by the Seller at the time of the execution of the purchase agreement.
- Property sells subject to any announcements made the day of sale.
- It is the sole responsibility of Bidder to monitor RES’s website with respect to any updates or information regarding any Real Estate on which Bidder is bidding. Bidder acknowledges that information regarding the Real Estate may be updated or changed on RES’s website at any time prior to the conclusion of bidding and that Bidder has timely reviewed the Real Estate information or assumes the risk of not having done so.
- Once submitted, a bid cannot be retracted.
- The Bidder uses the online bidding platform at their own risk. RES is not responsible for errors or omissions in bid submissions or acceptance. RES does not guarantee the platform’s uninterrupted function, availability, or compatibility with the Bidder’s hardware or software. RES is not liable for any damages resulting from its use or attempted use, including failures, interruptions, or delays.
- In the event that Bidder is the successful bidder, Bidder must immediately execute the Contract for Purchase and Sale and tender a nonrefundable earnest money deposit in the form of cash, check, or immediately available, certified funds and in the amount set forth by RES, by 1:00 p.m. (EST) on the business day following the auction. The balance of the purchase price will be due at closing on the specified closing date. The Real Estate must close within 45 days of the date of the auction, or as otherwise agreed to by Seller and Bidder.
- Bidder acknowledges the closing may be delated for reasons beyond the control of Seller, Buyer, or Broker. Delays caused by survey, title issues, county agency approvals, lender processes shall automatically extend the closing date. Bidder agrees to cooperate in good faith to proceed to closing by the closing date or as soon after as practicable.
- RES has the right to establish all bidding increments.
- RES may, in its sole discretion, reject, disqualify, or refuse any bid believed to be fraudulent, illegitimate, not in good faith, made by someone who is not competent, or made in violation of these Terms and Conditions or applicable law.
- Bidder warrants and represents that they are at least 18 years of age and are fully authorized to bid.
