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| AUCTION ID #: 380358 |
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| USMS: Arlington, TX - Single Family Residence |
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| Winning Bid: |
USD $1,189,000 |
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| Number of Bids: |
28 |
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| Winner: |
hsventures |
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| Reserve: |
Met |
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| Status: |
Sold |
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| Auction Started: |
05-27-08 08:00 AM ET |
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| Auction Closed: |
05-29-08 03:28 PM ET |
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PROHIBITED PARTIES The contractor, its employees, and their families and/or persons acting for and/or on behalf of the contractor are prohibited from bidding on any property offered for sale by the United States Government. In order to avoid a conflict of interest, or the appearance of a conflict of interest, the following classes of persons are prohibited from purchasing, either directly or indirectly, property forfeited to the United States which is to be sold under this contract or any subcontract to this contract. To view the entire Prohibited Parties Terms please click here.
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| Asset Description |
The information contained in this auction listing was provided in part by Bid4Assets and their agents.
The U.S. Marshals Service offers the following asset for auction:

Property Information:
- Subject property is located at
2320 Panorama Court, Arlington, Tarrant County, TX 76016-6430.
- Site area is 2.614 +/- acres.
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Tarrant County, TX currently assesses the property at $5,359,500 ($300,000 for land and $5,059,500 for
improvements).
- Zoning for this property is Single Family Residential.
- Legal Description: Lot 6 and 7, Block 2, of Phase I and Phase II, The Estates on Rush Creek, an Addition to the City of Arlington, Tarrant County, Texas, According to the plat Thereof Recorded in Volume A, Page 2168, of the Plat Records of Tarrant County, Texas. Now Known as Lot 6R, Block 2, The Estates on Rush Creek, An Addition to the City of Arlington, Tarrant County, Texas, According to the Plat Thereof Recorded in Volume A, Page 6877, of the Plat Records of Tarrant County, Texas.
- This property is a three story detached residence with seven bedrooms (7), seven bathrooms (7), four (4) half baths, living room, dining room, kitchen, family room, three (3) car garage, two (2)car garage, four fireplaces, multiple staircases, marble, wood and travertine floors, cast stone accents, full basement with an indoor pool and spa, porch and a balcony. The basement is fifty percent (50%) complete. The property is incomplete. Parts of the house have been damaged by water infiltration and possible hidden damages due to freezing and burst pipes. The roof is incomplete as well as the front entrance, and siding. The pillers for the front porch are in crates in the garage. There are 15,434 +/- square fee of gross living area on the first and second levels and 8,000 +/- square feet of gross living area in the basement. This brings the total gross living area to an approximate total of 22,000 square feet.
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Local Agent's Comments: This property is
located in a private gated community surrounded by other estate style homes.
There are extraordinary features planned and mostly complete inside the home
including seven bedrooms plus a library, 8 baths and 3 powder baths.
Arlington provides easy access to major highways, DFW Airport and both
Dallas and Fort Worth cities. Best known for the location of the original
Six Flags Amusement Park, Arlington also is home to the Texas Rangers
baseball team and future home of the Dallas Cowboys football team.
Both exterior and interior of this property are incomplete. The tiles
missing on the roof have allowed considerable water damage to completed
walls, ceilings and mahogany wood flooring inside. Appliances are missing,
but it appears they were never installed. Expensive marble flooring tiles
are partially completed in some rooms, though the remaining tiles seem to be
in crates in the garages along with tiles for roof. After thorough
inspection, one commode is installed and two others were in boxes. Except
for shower doors, all other plumbing fixtures were noted as installed.
Wiring for electrical fixtures, including switches, outlets and lights are
all exposed.
It is estimated that homes currently for sale and homes that have sold
that are in the 4,000 to 6,500 square foot range are priced around $150 per
square foot. Subject property is noted as 22,100 sqft per Tarrant
County Appraisal District and US Marshal’s list it as 23,000 sq ft.
Based on a price of $150 per square foot, this 22,000 square foot house
could retail around $3,300,000, after construction has been completed.
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Additional Notes:
Click here for a Zillow.com value estimation on this property.
This home has good access to schools, shopping and other amenities. |
This is pursuant to a Agreed Order of Interlocutory Sale dated February 6, 2008.
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| Maps & Area Information |
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| Additional Details | | For more information about this asset including photos, specs and more (when available), click here. |
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| Bidding Requirements |
To bid on this auction, all bidders are required to become qualified by placing a deposit. The deposit of the winning bidder is automatically transferred to the seller at the end of the auction. If the winning bidder fails to perform on any auction, the entire BidDeposit will be forfeited to the seller.
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Non-winning bidders' deposits are refunded within (10) ten business days after the close of the auction. This deposit cannot be applied to other auctions.
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| To find out more about the BidDeposit requirement, click here. |
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| Additional Terms of Service |
| Sold by the U.S. Marshals Service, which reserves the right to refuse any bid for any reason. Please see the document "General Terms of Sale" found in the due diligence area for further information. Bidders should conduct their own due diligence to determine value.
The assets offered for sale by the United States Marshals Service are either seized by and/or forfeited to the United States under federal forfeiture laws. All Buyers of these assets must understand that the United States, and/or its agencies, agents, officers, employees, and/or assigns (hereinafter referred to as "Seller") has acquired the subject property through seizure and/or forfeiture, and has little or no direct knowledge concerning the title, nature, value, source, authenticity and/or any other aspect or characteristics of these assets.
THEREFORE, the Seller offers these assets for sale in "AS IS" CONDITION AT THE TIME OF SALE OR CLOSING, INCLUDING ANY HIDDEN DEFECTS OF ANY NATURE, KNOWN OR UNKNOWN, with no representations, warranties or guarantees whatsoever, express or implied, regarding their nature, value, source, authenticity, fitness, merchantability, and/or any other aspect or characteristic of these assets. No statement anywhere, whether express or implied, shall be deemed a warranty or representation by the Seller regarding these assets. All sales are with the understanding that the buyer cannot rely on any other representation, warranty or guaranty made by anyone.
All information derived from third party sources, including but not limited to appraisals, is deemed reliable but not guaranteed. All buyers are deemed to have relied entirely on their own information, judgments and inspections of the assets in making the decision to purchase the asset.
In addition, all Buyers must agree to release and hold harmless the Seller from any and all demands, rights and causes of action, arising from, or to arise from, or by reason of, the Government's seizure, forfeiture, ownership, possession, management, use, sale and/or transfer of these assets. |
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| Inspection Details |
| This property will be available for inspection one time only on Tuesday, May 20th, between the hours of 10:00 AM and 12:00 Noon CDT. Prospective bidders wishing to inspect this property must send their request to inspections@bid4assets.com (please include name, telephone number, requested appointment time, and reference auction ID # 380538). Prospective bidders wishing to inspect this property must also complete the "Waiver, Release & Indemnity Agreement" located under the Additional Details tab above. Appointments must be scheduled before 12:00 p.m. ET on May 19th. Prospective bidders will not be admitted onto the property without a scheduled appointment and signed waiver agreement. Inspection will take place BY APPOINTMENT ONLY. |
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| Settlement Requirements |
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| Certified/Cashier's CheckThe successful bidder has 24 hours following the close of the auction to sign a Purchase Agreement. The successful bidder has 30 calendar days to complete the transaction by certified check to the U.S. Marshals Service. If the successful bidder does not perform, the bidder will forfeit his/her/its BidDeposit to the U.S. Marshals Service. The successful bidder will be required to cover any closing costs.
For assistance, please contact Bid4Assets’ Customer Service team at service@bid4assets.com or 877-4ASSETS (427-7387). |
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