Bank Owned905 Washington St
Tuskegee Institute, AL 36088, Macon County
4
Beds
2
Baths
1,231
Sq. Feet
Opening Bid
$25,000
Bank Owned
905 Washington StTuskegee Institute, AL 36088, Macon County
11,328 Views
Save4 Beds2 Baths1,231 Sq. Ft.
Auction In Progress
Price Insights
Est. Resale Value
Not Available
Online Auction - Now Bidding!
Reserve Not Met
Property Details
Beds
4
Baths
2
Square Footage
1,231
Lot Size (Acres)
0.39
Property Type
Single Family...
Year Built
1968
APN
1501024003008...
Special Notes
NOTE: Property is subject to redemption rights of the previous mortgagor through June 5, 2025. Buyer will be required to sign the Addend... More »
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Due Diligence
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Learn how to perform due diligence.
Review Property Information
Check out third party reports on property condition, market value and neighborhood info.
Examine Title and Liens
Preliminary reports are provided for reference. Seek a professional for a full evaluation.
Deed Type
Special Warranty Deed or Quitclaim Deed
Title Insurance Paid by
Buyer
Review Purchase Agreement
Details of the Seller's terms and conditions, and your rights as the buyer.
Prepare Your Finances
You’ll need to provide a pre-qualification letter from your lender and proof of funds immediately following the auction. A financing contingency period may or may not be offered.
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:
- 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.
- 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.
- Proof of Funds: You need to provide Auction.com a copy of your Proof of Funds by email within 2 business days.
- 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.
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.
- Any delinquent HOA/COA assessments shall be paid in accordance with the applicable Purchase Sale Agreement.
- Buyer may receive a Special Warranty Deed or equivalent if Buyer is able to purchase title insurance without delaying the closing (title fees typically cost between $500 and $1500 and are based on the purchase price of the property). If buyer does not purchase title insurance, buyer will receive a Quitclaim Deed or equivalent, with no express or implied warranties of title.
- Financing Considered. Buyers are responsible for determining financing eligibility prior to bidding. Financing may be considered/allowed by the seller.
- Buyer is responsible for all escrow fees typically ranging from $850 to $1,375.
- 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 be offered a Special Warranty Deed or Equivalent.
- Property is being offered as is, where is.
- This property is being offered exclusively through Auction.com before it will be available to the broader market. Please be aware that in rare instances, issues arise that may require the seller to cancel the transaction due to this early availability.
- Buyer will be assessed a $55 Document Generation Fee paid at closing.
- 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. 81876-1 (RE Broker),
Lee Leslie – License No. 81876 (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.