Operating Bar & Grill on Paw Paw Lake Rd. in Coloma, MI
Fully remodeled and renovated restaurant up for auction! All new windows, metal roof, siding, LED lighting and HVAC units. Perfectly located halfway between Chicago & Detroit, just a short distance off I-94. All equipment included! New owner could literally walk in and open tomorrow!
Square Footage: 6,600 SF
Utilities: Gas / Central Air / Public Water & Sewer
Property Class: 201 Commercial
Zoning Code: N/A
Parcel #: 08-0021-0046-00-5
Lot Size: 0.98 Acres
Total Annual Taxes 2016: $5,107.53
Legal Description: COM 187.8'E & 33'S OF NW COR OF E1/2 OF NW 1/4 SEC 21 T3S R17W TH E 37.2'TH S 334.1'TH W 225'TH N28DEG52'E TO POB EXC THE S 25'THEREOF
*Inspection BY APPOINTMENT - Please contact Derek at Drizor@biddergy.com to schedule
*High Bid Subject to Approval
INSPECTION: Buyers shall rely entirely on their own information, judgment, and inspection of the property and records. Buyers can and should inspect prior to the auction. Acceptable inspection after the auction is not a contingency of your bidding so be sure you have inspected the property to your satisfaction prior to the auction. Biddergy LLC cannot provide inspection or access to the property after the auction until the closing.
CONDITIONS: All properties are sold “AS IS WHERE IS” with no warranties of any type expressed or implied as to the merchantability, usability, fitness for a particular purpose, or any matter of whatsoever type or nature. Potential buyers should inspect all properties before placing any bids. Any improvements which may need to be done will be the responsibility of the purchaser. All information advertised or stated was derived from sources believed to be correct but is not guaranteed. The Real Estate DOES NOT sell contingent upon financing, acceptable post-auction inspection, acceptable environmental reports, surveys, use requirements, other property sales and purchases, or any other matter whatsoever. The auction company retains the right to place bids on the behalf of any buyer, employee, principal, or seller. The Real Estate will be sold free and clear of all liens of record, unless otherwise stated.
DEPOSIT FOR REAL ESTATE: A deposit of ten percent (10%) of the purchase price or $5,000, whichever is greater, will be required of the successful bidders within 48 hours of the conclusion of the auction. A Biddergy representative will contact you if you are the high bidder to coordinate your deposit and BUY/SELL agreement signatures. Wire transfer, cash, cashiers check, personal or company checks are accepted for the deposit. This deposit is NOT refundable if you the buyer do not carry through with the purchase. Your bidding IS NOT conditional upon financing, so be sure you have arranged financing if needed and are capable of paying cash at the closing before you bid.
CLOSING: Buyer is responsible for typical closing costs to include title insurance if desired, title and title company fees. Seller will provide transfer cost and taxes and / or assesments will be paid prior to closing. Closing must take place within 30 days of auction ending.
TAXES: Property Taxes which are due on the property on or before the date of the auction will be paid by the Seller without proration. All property taxes due after the date of the auction will be the responsibility of the Buyer without proration. The Buyer will assume any dues or assessment balance which remains after the Seller pays for any dues or assessment installments which are due and payable on or before the date of the auction. High bid must equal an amount greater than taxes owed on the property plus any closing costs paid by seller.
DEED AND TITLE INSURANCE: Seller will provide a deed to the property. Buyer is responsible for the purchase of an owners title insurance policy in the amount of the purchase price at closing, if desired.
BUYERS PREMIUM: A $500.00 OR 10% buyers premium, WHICHEVER IS GREATER, is in effect and will be added to the high bid.
BUYERS NOTE: If you are the successful bidder, you must sign all the purchase agreements and make your deposit on the property within 2 business days of the conclusion of the auction. Individual purchases are to be considered as singular transactions, not contingent on any other purchases of properties on the auction. The ability to obtain financing is NOT a contingency of the sale. Properties will be sold subject to the acceptance or rejection of the high bid by the seller(s) within 72 hours of the conclusion of the auction unless specifically stated that it is selling with No Minimums or Reserves. The auction will be conducted at the sole discretion of the auctioneer and any bids may be recognized at their discretion. Any exceptions to the above terms will be noted in the Additional Announcements information for each property. High bid is subject to bank approval.
AUCTIONEERS NOTE: All information was derived from sources believed to be correct, but is not guaranteed. Buyers should rely solely on their own investigation of the property and records prior to bidding on the property. Biddergy is not responsible for any printing errors or omissions of data.