Lot # : 1 - Historic Mayor's Mansion - 501 Grand Ave. Cherokee

Online Only Auction
Historic Mayor's Mansion - 501 Grand Ave. Cherokee
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High Bid: 77,200.00 USD
8 Bids
Time Remaining: 4d 13h 19m - Saturday 01:01 PM
Soft Close
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Cherokee, OK 73728
Date(s)
9/26/2024 - 11/9/2024
AUCTIONEER INFORMATION
Catalog
Zillow Listing
Bidding Notice:

Properties are sold as is, where is. Payment in full is required within 5 business days of auction end without exception. Invoices must be paid by guaranteed funds (Wire Transfer, Cashiers Check, Cash). Buyer to verify all information. Perspective buyers should conduct their due diligence prior to any bids, including in person visit to the properties. This is fee simple, absolute transfer. ... Show More

Auction Notice:

NO RESERVE AUCTION. Seller has authorized Terra Firma Auction Services to auction Cherokee Mayor's Mansion located at 501 Grand Avenue, Cherokee, Oklahoma, SRO at NO RESERVE. If you are unfamiliar with the purchase and sale of real Property, MRO, SRO and other elements of property purchase, Consult an attorney prior to making any bids or commitments.

Information
Lot # 1
Estimate 249,000.00 - 349,000.00 USD
Group - Category Real Estate - Residential
Lead Historic Mayor's Mansion - 501 Grand Ave. Cherokee
Description
The original Mayor's Mansion in Cherokee, Oklahoma. This historic home was built in 1901. It housed the first Mayor of Cherokee until the early 1920s. The home has many details on the outside with many gables and peaks. A substantial front porch and a spacious, fully landscaped yard. The property is fenced with the original wrought iron from 1930s. Inside is finished with dark walnut and cherrywood throughout. Hardwood floors are present throughout the original home. Fabulous detail work, stained glass and trim abound. An addition was put on in the mid 1960s, this added size to the kitchen and included a study room and a large family room off the back of the property. There is a two car garage and a sizable carport. This is a 0.68 acre lot with 3475' on the main and upstairs level. New HVAC in 2021, forced heat and air conditioning. Water heater was replaced in 2019 and has no issues. All sinks, outlets and functions are working correctly. Power, Water and utilities will pass to the new owner within 30 days of closing.
Name Historic Mayors Mansion -1901- 501 Grand Ave, Cherokee, OK
Auctioneer
Terra Firma Auction Services
Type Online-Only Auction
Date(s) 9/26/2024 - 11/9/2024
Auction Date/Time Info
Auction will Start Thursday, September 26th, 2024 at 8:00am (MST). Auction will end on Saturday, November 9th, 2024 starting at 1:00 PM (MST). Lot will soft close.
Preview Date/Time Open House date TBD in mid-October. Please email or text for more information. Seller is not responsible for access, weather or other impediments.
Checkout Date/Time Earnest Money deposit of $5000 is due within 24 hours of auction close. Terra Firma will contact bidder at the close of the auction to collect earnest money deposit. Please be available to make this deposit at the auction end. Full payment due within 5 business days from the end of the auction. By Friday, November 15th, 2024 at 4:00PM MST.
Location
501 Grand Avenue
Cherokee, OK 73728
Buyer Premium 10% BUYERS PREMIUM
Description
TERRA FIRMA AUCTIONS has been contracted to liquidate assets for its clients. We strive to provide all relevant information and details about foreclosures. Please relay any questions via email or by phone or text. The historic 1st Cherokee Mayor's Mansion, Single family home located at 501 Grand Avenue, Cherokee, Oklahoma All of Lot One (1) and that part of Lot Two (2) described as follows, to-wit: Beginning at the Northeast corner of Lot Two (2), thence South 25 feet, thence West 113 feet, thence South 12 feet, thence West 37 feet to the West line of said Lot, thence North 37 feet to the Northwest corner of Lot Two (2), thence East along the North line of said Lot 150 feet to the place of beginning ALSO the East 10 feet of the North 37 feet of Lot Eleven (11) ALL in Block One (1) of Titus' Third Addition to the City of Cherokee, Oklahoma according to the recorded plat thereof. Parcel ID: 0245-00-001-001-0-000-00 (SRO) Property will be sold at NO RESERVE on November 9th, 2024. The property has been professionally surveyed and will be sold with clear title. No back-taxes, liens or other encumbrances. Property is sold fee simple absolute. This auction is for Real Property. Completed Sale will transfer 100% SRO Ownership and Interest via Quit Claim Deed to the buyer. PLEASE DO NOT BID If you are unclear on any aspects of OWNERSHIP or PURCHASE of REAL PROPERTY, SRO, MRO or otherwise, we highly recommended that you SEEK LEGAL ADVICE PRIOR to registering or bidding. Terra Firma Auction Services CANNOT and WILL NOT provide legal advice in any capacity. 10% Buyer's Premium on final hammer price. $649 Closing/Documentation fee for transfer and recordings with State and County via Quit Claim Deed. Warranty Deed available for additional $1795.00. Buyers are responsible to execute due diligence prior to bidding. We highly encourage an "in person" visit to the property. Map link to property is included in auction links. Properties are sold AS IS, WHERE IS. No other warranties or representations. SALE IS SUBJECT TO SELLER APPROVAL.
Bidder agrees to comply with Terms & Conditions listed and defined below as a prerequisite for Terra Firma's acceptance of the Bidder's Registration and Bid Card ID. All Bidders with NEGATIVE scores and UNPAID auctions will be revoked. The total amount due will be the final 'hammer' price plus the buyer premium (10%) and a $649 documentation/closing fee per auction lot. High bidder will receive the deed(s) to the property upon full payment of auction, subject to clearing of funds. Clear and unencumbered title of ownership will be transferred by Quit Claim Deed. Warranty Deed is available for an additional $1795.00. PAYMENT: CASH SALE - All payments in GUARANTEED funds only. This is a Real Property transfer, NO Credit Cards or PayPal for Real Property. CASH, WIRE TRANSFER or CERTIFIED BANK CHECK ONLY. PAYMENT IN FULL is required within FIVE (5) BUSINESS DAYS of auction end without exception. All Title Closings and Recordings are executed by our staff in house. Deeds in less than 30 days in most cases. An Earnest money deposit in the amount of $5000 is required at lot closing. Request for payment will be sent to winning bidder for the earnest money deposit and must be paid within 24 hours of auction close. FAILURE to make required DEPOSIT will result in FORFEITURE of interest in property. Earnest money deposit is NOT refundable. If bidder fails to submit balance due within 5 business days the earnest deposit is forfeit with no refunds or credits. The Earnest Money deposit will be accompanied by a non-contingent Purchase Agreement. Any bids or earnest money deposits are considered acceptance of aforementioned Purchase Agreement. BY REGISTERING FOR THIS AUCTION, BIDDER AGREES TO RECEIVE TEXT AND EMAIL CORRESPONDENCE ONLY AS RELATED TO THE SALE OF THE PROPERTY. CONDITIONS OF SALE: All properties are sold in "AS-IS" condition with all faults and defects and without warranty or guarantee of any sort. Prior to bidding, each bidder is advised and responsible to conduct an independent due diligence to ascertain characteristics, attributes and condition of the property. Failure to conduct diligence activities shall not constitute a waiver of any sort. TRANSFER OF OWNERSHIP. Conveyance of properties is completed by Terra Firma. Transfer via registered and recorded Quit Claim Deed. Bidder authorizes Terra Firma to act as Bidder’s agent to complete any closing documents, or any corrective documents thereafter. For each Lot, Bidder must specify the Deed Transfer Information. Should the Bidder fail to specify Deed Information within 10 business days after payment of balance, Bidder authorizes Terra Firma to convey each Lot using the Bidder’s name and address as registered in the auction. ALL SALES ARE SUBJECT TO SELLER APPROVAL.
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 100,000.00 100.00 USD
100,000.01 - 249,999.00 500.00 USD
249,999.01 - 999,999.00 1,000.00 USD
Currency USD
Buyer Premium 10% BUYERS PREMIUM
Payment Terms
CASH SALE - All payments in GUARANTEED funds only. Being a Real Property transfer, we cannot accept Credit Cards or PayPal for Real Property. CASH, WIRE TRANSFER or CERTIFIED BANK CHECK ONLY. This auction is for real property and no credit cards are accepted for payment above and beyond the earnest deposit. 100% interest and ownership of the property will be transferred to the winning bidder. Earnest money deposit is required at closing. This earnest deposit is $5000. Terra Firma will contact you BY PHONE upon close of auction. Full Payment is due within 5 days of Auction Closing. Earnest money deposit is NOT refundable. If buyer fails to submit balance due within 5 business days the earnest deposit is forfeit with no refunds or credits given. The Earnest Money deposit will be accompanied by a non-contingent Purchase Agreement. Any bids or earnest money deposits are considered acceptance of aforementioned Purchase Agreement.
Terra Firma Auction Services will process all closings and deed preparation. In most cases deeds can be processed in less than 30 days. For each Lot, Bidder must specify the Deed Transfer Information. Should the Bidder fail to specify Deed Information within 10 business days after payment of balance, Bidder authorizes Auctioneer to convey each Lot using the Bidder’s name and address as registered in the auction. Deed will be executed same business day that full payment is received. It is the bidders responsibility to verify that all information is validated. This is fee simple, absolute transfer. Free and clear title shall be given by a standard quit claim deed free and clear of any back taxes, encumbrances or liens. Warranty deed is available for $1795.00. Warranty Deed is not required and option is only provided as a courtesy to buyers.
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