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Minneapolis Downtown Two Bedroom, Two Bathroom Condominium

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A2C

Closing Monday
11/12/2018 05:30 pm CST

Closed

Auction Location: 433 7th Street South, Minneapolis, MN 55415 / Phone: 612-408-0038

Real Estate

The Sale is for the Real Property which includes: .Two (2) Bedroom , Two (2) Bathroom 16th Floor Condominium.  .

The Unit Purchase includes a Refrigerator, Stove, In Sink Garbage Disposal, Dish Washer, and  Over Stove Microwave.

Spectacular Views of Downtown, Several Association Amenities included as part of the Condominium Association. 

 

A2C's Real Estate Broker is JR Venegas (Eugogio Venegas) License Number 40200816

This Seller is selling the Property to the Highest bid over $190,000.00

Jump to details and terms

Showing 1 to 2 of 2 items
Current Bid: $0.00
Next Required Bid: $190,000.00

 
Scheduled Close
11/12/2018
05:30 pm CST
Closed

Sharp 2 Bedroom, 2 Bathroom Condominium

Located in Centre Village Condominium Association Downtown Minneapolis on the Skyway.

  • Bedrooms are split one on the left and one right side of the unit.  
  • The unit has light grey paint and carpet. 
  • Upgraded vanity tops in the bathroom and tiled bathroom floors.
  • A/C and hot water heat. 
  • Cable and high-speed internet included in the dues.  
  • Owner pays electric.    
  • The  Great City Views.  
  • The association offers 2 outdoor decks, an outdoor pool, outdoor BBQ area, party room, lounge, library, gym, tanning bed, hot tub and bicycle storage.   
  • Optional parking in the attached ramp is $140/ month.   
  • The unit is located downtown on the skyway so you can avoid the cold.  
  • Close to the Vikings, Timberwolves and Twins stadiums, a few blocks to all the shopping on Nicollet Mall, the restaurants, Mississippi River path, and Stone Arch Bridge,  all the downtown nightlife and the Warehouse district.
  •   The light rail to the Minneapolis Airport and Mall of America are 1 block away. 
  • Built in 1985
  • Property ID Number:     26-029-24-22-0433
  • Municipality:                  Minneapolis
  • School District               01
  • Please Note:  All Property Tours Will Start on the Half Hour (12:00, 12:30, 1:00 and 1:30) on the Street level In the Lobby in front of the Street Level Convenience Store.
  • Please Call 612-408-0038 For further Information and Onsite Contact during Preview Times.
  • Monthly HOA Fees, Cable $29.86, Association Dues $469.83 and $27.50 = $527.19
  • All Appliances Pictured, Refrigerator, Stove, Dishwasher, Microwave and Garbage Disposal Are Included with the Purchase.
  • ANY Furniture, Or Window Treatments Pictures ARE NOT included in the Purchase.  
  • This Building DOES Not Met FHA GUIDELINES.  FHA Loans are Not Applicable to this Property.
  • Freddie Mac and Traditional Mortgage Guideline Financing ARE Applicable.

Current Bid: $0.00
Next Required Bid: $5.00

 
Scheduled Close
11/12/2018
05:31 pm CST
Closed

How a Real Estate Auction Works????  Misconceptions:

Misconception #1:  I have to be a Cash Buyer to Buy a Property at Auction.

False.  

Auction Reality:

Bidding Establish the Purchase Price.  The Winning Bidder Signs the Auction Real Estate Broker Prepared Purchase Agreement. (PA)

Title company is sent PA and a Closing is Scheduled. Seller Sends title Info to Same Title Company.

The Down Payment is Made when the PA is Signed and the Broker Deposits the Payment in his Real Estate Trust Account.

The Buyer CAN pay Cash or Arrange Financing (Mortgage) with a reputable Financial Entity.

Misconception #2:  Real Estate Auctions are a "New Sales Gimmick" in Selling Real Estate.

False. 

Licensed Real Estate Professional are the New Kid in the Game. 

Real Estate Agent and Broker Licensing Started around 1920.

Auction Reality:

The Roman Empire was Sold at Auction approximately 2000 years ago. 

Banks and Home Owners used Auction Method to sell their Real Property for 100's of Years.

Misconception #3:  I need a Real Estate Agent to Buy a Home at Auction.

FALSE.

 A Real Estate Agent is required when dealing with properties listed with a another Real Estate Entity. 

They Require a Buyer to be Represented by a Licensed Real Estate Agent. 

A Buyer's Real Estate Agent Helps Narrow the Search, Set up Home Tour Appointments and Writes Up the Offers in Homes You Like

Auction Reality:

A Real Estate Auction is Driven by the Licensed Auctioneer. 

The Preview Dates are Scheduled and Published with the Auction.

The Auctioneer is Mandated to hire a Licensed Broker or Licensed Attorney to Complete the Purchase Agreement.

The Broker or Attorney complete and explain the PA  with the Winning Bidders.

 The bidding on the Property at Public Auction is the Offer/Acceptance Process.

The Home Owner is offering the property and the Highest Acceptable Bid is the Final Offer.

 




The Homeowner Association documents Are Attached to the Description of Lot #1.  All Bidders are required to Review this document and Further Attest to Reviewing the Document.  The Winning Bidder will Sign a Verification of Acceptance of the Homeowner Association Covenants along with the Signing of  of Purchase Agreement . 

The Closing Costs of the Real Property Title will be Paid By The Buyer.

The Minnesota Standard Purchase Agreement will be Completed by A2C's Broker, Presented to Winning bidder, Explained and Signed with the A2C Licensed Broker per Real Estate Auction Statutes. 

A2C's Real Estate Broker is JR Venegas (Eugogio Venegas) License Number 40200816

The Winning Bidder will Be Expected to meet with the Auction Real Estate Broker to sign the Purchase Agreement and Deliver $10,000.00 Cashier's Check Down Payment.  Down Payment will be retained in Broker's Trust Account and credited at closing. 

Seller Can Close Quickly if Buyer is Cash Buyer.  Would like to Close within 45 days if Buyer Financing is required.

PLEASE NOTE:  There is a One (1) Percent Discount Available to any Buyer that will Provide a $20,000.00 Down Payment  at the Signing of the Purchase Agreement and Close in 25 Days of the Auction Close!!!

 


Inspection:

Sun, Oct 28, 2018 12:00 pm - 02:00 pm
Sun, Nov 04, 2018 12:00 pm - 02:00 pm
Sun, Nov 11, 2018 12:00 pm - 02:00 pm

Auction Closing:

Mon, Nov 12, 2018 05:30 pm

Removal:

By Appointment Only

Bidding Increments:


Range Increment 
$0.01 - $75.00$1.00
$75.01 - $150.00$5.00
$150.01 - $250.00$10.00
$250.01 - $500.00$25.00
$500.01 - $1,000.00$50.00
$1,000.01 - $5,000.00$75.00
$5,000.01 - $50,000.00$100.00
$50,000.01 - $75,000.00$250.00
$75,000.01 - $100,000.00$500.00
$100,000.01 - $2,500,000.00$500.00



Buyer's Premium


Buyer's Premium
4.00%


This a auction is contracted and managed by: A2C

Manager: Matt Johnson


This auction is contracted and managed by Assets2Cash.  A2C Enterprises, LLC, MN Dealer #38249, is the Dealer of Record for titled items in this sale. 

This property is selling with a reserve and is subject to seller confirmation.  

Payment Types Accepted:  Certified funds up to $20,000.00.  

  • All Payments should be Payable to A2C Auctions and made on the Pick Up day.
  • Credit cards not accepted.
  • Please Do Not Bid if you cannot make Arrangements to close in 45 Days.
  • Only A2C Staff Accompanied Previews will be allowed.  
  • The Only Preview time available is Displayed at the Bottom of each Bid Page for the Auction
  • An A2C Representative Must Be Present for Preview.
  • A $40.00 Trip Charge will be Added to any Invoice that Requires a Staff Member to Return to the Sale Site Before or after the Preview Times.
  • As with all K-BID.com Auctions, The Buyer is responsible Inspecting All items prior to Bidding.
  •  Review the Home Owners Association Documents and Resale Disclosure Certificate (collectively “Information”) attached to the Description of the Condo. 

  • The PDF of this Document is attached to the sale Description and Conveyed to all bidders

  • The Information is hereby delivered to you, effective today,  pursuant to Minnesota Statutes Section 515B.4-107.

  • Bidders will be required to sign a Verification of your Receipt of the Information as of today’s date, and acknowledge your review of the Information, at the Time of Signing the Purchase Agreement..

  • Accepting the terms and Conditions of this Auction constitute Conveyance of these Documents.


This auction is contracted and managed by an independent affiliate. By placing a bid on this auction, you are agreeing to the auction specific terms listed on this page in additions to the K-BID user terms and agreements.  

K-BID Online, Inc. (K-BID) is responsible for maintaining the K-BID.com website.  K-BID.com serves as the venue used by independent auction companies (Affiliates) to present their online auctions to bidders.  

K-BID’s role in the auctions listed on K-BID.com is limited to providing the venue for affiliate auctions. Affiliates are not employees, agents, representatives or partners of K-BID Online, Inc. K-BID’s knowledge about individual auctions and individual auction transactions is limited to the information appearing on the website.

By placing a bid on K-BID.com, bidders are verifying they are at least 18 years old and acknowledging they understand and will comply with both the K-BID.com website terms and the auction specific terms. Bidders MUST NOT share their password or account information with anyone. Bidders are responsible for bids placed on their account.

Inspection dates/times are available for every auction. Bidders are strongly encouraged to inspect prior to placing bids. Removal day is not inspection day. When an auction ends, and the winning bidder invoice appears on the bidder’s dashboard, the bidder is obligated to honor their bid(s).

Every auction item is sold “as is, where is” with no guarantees or warranties. You are responsible for inspecting items prior to purchase.

Bidders are responsible for knowing and complying with auction terms. Failure to comply with removal terms may result in bidding privileges being disabled.  Once a bid is placed it cannot be retracted.

Sellers and their agents are prohibited from bidding on their own assets.

Items with a reserve will not be sold unless the reserve price has been met.

At the close of the auction, active items will remain open until no bids have been received for three minutes.

Applicable sales tax will be collected by the affiliate managing the auction.  

In the event that bidding rights are terminated due to no-show invoices, bidders MAY be reinstated at the discretion of K-BID only after a penalty fee of 20% of the unpaid invoice(s) and a reinstatement fee of $25.00 has been paid to K-BID and a scanned copy of your driver's license emailed to us. INVOICED ITEMS WILL NOT BE AWARDED. The payment is punitive and meant to deter no-shows. Duplicate bidder accounts will be deactivated when they are determined to exist. If possible and at our discretion, K-BID reserves the right to delete any bid we believe has been placed by a suspect bidder. Any registration that shows up on our fraud detection system may be placed on hold and bids removed until the user is verified. K-BID Online, Inc reserves the right to disallow anybody from bidding on its website. Cases of obvious bidding with no intent to redeem will be referred to appropriate legal authorities.

Affiliates may lower a lot reserve at any time before or after an auction closes.  If the reserve is lowered while the auction is in progress, the applicable reserve message will appear below the Next Required Bid information (Reserve Not Met or Reserve Has Been Met); the asset will sell to the high bidder if the lowered reserve amount is met. If the reserve is lowered after the auction closes, the highest bidder at auction close will receive a winning bidder invoice. 

Once an auction begins its closing process, outbid notifications will not be sent.

Once a bid is placed it cannot be retracted.

 


433 7th Street South
1625
Minneapolis
MN, 55415

612-408-0038




  • 44.9736483000, -93.2662023000

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