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Bank OwnedBank Owned
25 Prospect Ave
Andover, NJ 07821, Sussex County
3
Beds
1
Baths
1,870
Sq. Feet
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Opening Bid
$175,000
Auction.com
New Jersey
Sussex County
Andover
Bank Owned
Bank Owned

25 Prospect Ave
Andover, NJ 07821, Sussex County

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3 Beds1 Baths1,870 Sq. Ft.
25 Prospect Ave Andover, NJ 07821, Sussex County
Auction In Progress
Listed by PINNACLE REALTY ASSOC LLC

Price Insights

Est. Resale Value
$561,000
See Comparable Sales
Source: Collateral Analytics
Online Auction - Now Bidding!
Bidding Ends In
1d 1h
Duration
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Current Bid
$225,000
Counter Bid
Bid Increment
$25,000
Reserve Not Met

Property Details

Beds
3
Baths
1
Square Footage
1,870
Lot Size (Acres)
1.5
Property Type
Single Family...
Year Built
1980

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Market Analysis

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Due Diligence

Educate yourself before you bid.
Learn how to perform due diligence.
Review Property Information
Check out third party reports on property condition, market value and neighborhood info.
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Property Information Report
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Additional Property Information
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Property Inspection Report
Examine Title and Liens
Preliminary reports are provided for reference. Seek a professional for a full evaluation.
Deed Type
Special Warranty Deed
Title Insurance Paid by
Seller
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Preliminary Title Report
Review Purchase Agreement
Details of the Seller's terms and conditions, and your rights as the buyer.
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Purchase Agreement
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Property Condition Addendum And Release
Added: Nov 06, 2024
Prepare Your Finances
Cash is the accepted payment. In some cases, hard money loans and lines of credit are accepted. See purchase documents for details. Why?
You'll need proof of funds within 48 hours of winning the auction.
Conventional financing cannot be used to buy this property.

Additional Documents

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Acknowledgement of Occupant Rights
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Agreement of Purchaser for Non-Profit or Gov. Entity - First Look Program Only
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Lead Based Paint Disclosure
Added: Nov 06, 2024
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Lead-Based Paint Disclosure
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Manufactured Home Disclosure - If Applicable
Added: Oct 02, 2020
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Miscellaneous Document
Added: Nov 06, 2024
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Top FAQs

Will I be able to inspect the property before I bid?
Typically, no. Many properties will be sold "as is, where is," with all faults and limitations. You'll need to estimate any renovation costs from a distance. Even if you believe the home is vacant, treat it as occupied. These homes have not transferred ownership yet and walking on or entering the property is trespassing.
Does Auction.com have any more information on this property?

Like other real estate transactions, you should conduct careful due diligence before purchasing a property at auction. Common research items include local market value, property condition, and title report.

Please note, Auction.com is not the seller for any property made available online, and all information and photos to Auction.com have been made available on this page.

Will the property be free and clear of all liens?
Not necessarily. You should seek independent advice to perform your own due diligence and fully understand the foreclosure process and foreclosure sales in general. It is your responsibility to do a title search and seek any professional counsel before bidding.
Can I use financing to buy this property?
Typically, no. Be sure to check the property listing to see if financing is considered. Most properties on Auction.com are sold cash-only. That means you must pay the entire purchase amount by the closing date.
What happens if I am the winning bidder?

If you are the highest bidder at the end of an auction, here are your post-auction obligations:

  1. Contract Information: You'll receive an email confirming you have the highest bid. You will then need to provide important contracting information by filling out a form online. You can preview the required information on this form as a printable checklist. Make sure to submit the form within 1 business day.
  2. Purchase Agreement: Once everything is verified, the Purchase Agreement will be generated and you will need to sign and return the document for the seller to review and sign.
  3. Proof of Funds: You need to provide Auction.com a copy of your Proof of Funds by email within 2 business days.
  4. Earnest Money Deposit: Unless otherwise specified on your purchase agreement, you will need to send the Earnest Money Deposit to the closing company within 2 business days of receiving the transfer instructions. Send Auction.com a copy of your confirmation receipt within 1 business day of sending funds.
See more FAQs
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Transaction Details

• All bank-owned properties bought at auction are, "Subject to Seller Acceptance." Both buyer and seller must sign the purchase agreement for the bid to be considered accepted.

• If the buyer is a licensed real estate agent, no buyer broker commission will be paid, regardless if buyer is representing themselves or not

• The seller took ownership of this property at a recent foreclosure auction. The seller has established a reserve price based on the value of the property less its expected costs to market and sell the property, representing a tremendous opportunity for investors to purchase properties at a discount and create equity.

• If you are the Winning Bidder, an Earnest Money Deposit of 5% of the total purchase price or $2,500 (whichever is greater) is required.

• Buyer will receive a Special Warranty Deed or equivalent

• Property is being offered as is, where is

• Buyer will be assessed a $55 Document Generation Fee paid at closing.

• Click HERE to see similar properties.

• Until the seller's reserve price is met, Auction.com may counter bid on behalf of the seller. Counter bidding gives buyers and sellers more flexibility to find a mutually agreeable price. Counter bids do not occur after the seller's reserve price is met. Learn more about reserve pricing.

Auctioneer Licensing Information

Auction.com, Inc. - License No. 1110662 (RE Broker), Lee Leslie - License No. 674978 (RE Broker)

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DISCLAIMER: The content provided herein, including property photos and characteristics, has been gathered from various third parties and has not been verified. No representation or warranty is made by Auction.com regarding the accuracy or completeness of any content regarding the property. Property photos are not intended as a substitution for a bidder's own due diligence. Photos may not depict the condition of the property as it exists on the date of sale or closing. All bidders are responsible for conducting their own due diligence before bidding and are encouraged to seek independent professional advice if necessary.