Up for auction is 0.38 residentially zoned acres in Ridgecrest, California in Kern County. The zoning is R-2, which is multi-family. The property has frontage on W Coso Ave. Inyokern airport is to the northwest and the Naval Air Weapons Station China Lake is to the north. Do your due diligence and don't miss out on this one!
THIS IS A BID & ASSUME AUCTION. You are bidding on the down payment and the full purchase price is $11,900. The interest rate is 9% and the duration of the note is 6 years. On a $1 down payment, the monthly payment would be approximately $231/month, including principal, interest, property taxes, and servicing fee. There is no prepayment penalty to pay the note off faster.
If you sign up for autopay through a credit card or ACH from a checking account, the interest rate will be lowered to 7% and the payment will be reduced to approximately $219.
The down payment (which will be equal to the winning bid) and a deed preparation and recording fee of $199 will be due within 3 business days of the auction's close and may be paid by PayPal, cashier's check, or wire transfer. The note would then be set up and serviced by a loan servicing company (it must be signed within 14 calendar days of the auction's close). This is a land contract sale, where the deed is held in escrow and will not be recorded until the note is paid in full. All monies paid are non-refundable.
PROPERTY WILL BE CONVEYED CLEAR OF ANY LIENS OR BACK TAXES!
PLEASE MAKE SURE YOU'RE READY TO FUND THE DOWN PAYMENT BEFORE YOU BID!
The following info was provided by Kern County and should be verified prior to purchase.
| Address: | W Coso Ave, Ridgecrest, CA 93555 |
| County: | Kern County |
| ATN: | 456-040-08-00-9 |
| Legal Description: | THE NORTHWEST QUARTER OF THE NORTHEAST QUARTER OF THE SOUTHWEST QUARTER OF THE NORTHEAST QUARTER OF THE SOUTHEAST QUARTER OF SECTION 32, TOWNSHIP 26 SOUTH, RANGE 40 EAST, MOUNT DIABLO BASE AND MERIDIAN, IN THE CITY OF RIDGECREST, COUNTY OF KERN, STATE OF CALIFORNIA, ACCORDING TO THE OFFICIAL PLAT THEREOF EXCEPT THE EAST 66 FEET THEREOF. |
| Lot Size: | 0.38 Acres |
| Property Taxes: |
$77.92 |
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Auction Disclaimer
All property is sold as is, where is, with no warranties expressed or implied. It is the duty of prospective buyers to research properties to their satisfaction prior to bidding, and a bid shall constitute a binding contract, in which the buyer is agreeing to abide by the Terms of the Auction.
Thanks for looking and good luck with your investments!
