6 ACRES w/MOBILE HOME

6 ACRES W/MOBILE HOME

OUACHITA SCHOOL DISTRICT

REAL ESTATE

AUCTION

TUESDAY, AUGUST 16, 2011 @ 6:00 P.M. (NOTE TIME)

LOCATION:  10 Martin Lane, Bismarck, Arkansas. From Hwy 7 (the Fish Net), take Hwy 283 towards Caney. Martin Lane is on the right. Look for auction signs.

This is an older mobile home with a nice 26'x26' enclosed garage/shop building. It is sitting on a nice level 6 acres. There are utility poles on each side of the mobile home where other mobile home may have possibly been. It has rural water and well water is available, fenced on three sides and has a good stand of pine timber on the back side of the property. It is only a few miles from beautiful DeGray Lake.

INSPECTION:  You may drive by any time or auctioneer will be there to show the property on Sunday afternoon August 14^th from 2 till 4 p.m.

OFFERED AT 6:00 PM

1. Q. What is the size of the property?

A. Property consists of approximately six acres.

2. Q. What is the size of the mobile home?

A. It is a 14'x80' mobile home.

3. Q. What are the total real estate taxes?

A. 2010 taxes were approximately $171.76 before the Homestead Credit.

4. Q. How will the real estate be sold?

A. This property will be sold subject to court approval.

5. Q. Do you offer any warranties or guarantees on this real estate?

A. Owner will guarantee you good, clear title by providing title insurance and warranty deed. Other than that, the property sells "as is, where is."

6. Q. Is there any special financing offered?

A. No, this is a cash sale. We will require $3,000.00 earnest money day of auction. Balance due at closing in 30 days. If you need to obtain financing, this should be done prior to the auction. If you can not get the balance needed by closing, you will lose your earnest money.

7. Q. What will be the Buyer’s closing costs?

A. Buyer will pay ½ of closing fee plus $3.30 per thousand for stamps (State Transfer Tax), and $20.00 to record the deed.

8. Q. When and where will closing take place?

A. On or before 30 days after the auction at the offices of McClure Title & Abstract.

9. Q. Is there a Buyer’s Premium and what is it?

A. Yes, a 10% Buyer’s Premium will be added to the bid price to determine the total contract price.

Auctioneer’s Note: This property is being auctioned to settle the estate of Joshua Henry King.