BID FROM ANYWHERE
IN THE WORLD
TUESDAY, SEPTEMBER 12TH
367 WIDE WATERS LANE, OWASCO LAKE, NY
About THE Property: Beautiful beachfront property in heart of the freshwater Fingerlakes region, situated on 1.10 acres of land with 150 feet of level lakeshore frontage on the East side of Owasco Lake in Niles, NY, offering awe inspiring sunrise and sunset views.
The land was once part of the national writer "Samuel Hopkins Adams" estate. It is believed that Adams wrote many of his works along this beautiful, tranquil setting and he named it "Wide Waters", quite simply because it faced one of the widest sections of Owasco Lake.
Type of Property: Seasonal Vacation Home on Owasco Lake
Physical Address: 367 Wide Waters Lane
Fire Lane #: FL 21 (Wide Waters Lane Paved Private Drive)
Nearest Cross Street: Sam Adams Lane
Municipality: Town of Niles
School District: Moravia School
Zip Code: 13021
Tax Map ID #: 164.00-1-18
Name OF Lake: Owasco Lake
Side of Lake: Eastside
Lake Frontage: 150 Feet
Lot Size / Acreage: 1.10 Acres of Land
Electricity Source: National Grid
Heating Source: Wood Burning Stove and Electric Heater
Sewer Disposal: Septic System
Water Source: Lake Water
Number of Buildings on PROPERTY: 2
Type and Style of Buildings: Single Family Residence and Detached Garage
Age of Home: 1964
Square Footage Size of Building: 1,128 Sq. Ft. House and 14x20 Detached 1 Car Garage
Number of Stories in Building: 1 Level
Foundation TYPE: Piers /Crawl Space
Assessed Value at Full Equalization Rate: $ 335,158
Estimated Property Taxes:
School Tax $ 4, 927.07
County & Town Tax $ 3,282.85
REASON FOR SALE: Property is owned by a Trust and is being sold to obtain the highest price with the most favorable terms most beneficial to the Trust.
general information about the michael derosa exchange bidding process
property viewings & inspections: the property is AVAILABLE FOR SHOWINGS & INSPECTIONS BY APPOINTMENT ONLY.
HOW TO BID: There will be no physical bidding on-site at the property. Bidders will need to register prior to submitting bids. The property is being sold pursuant to a sealed-bidding procedure.
SUBMITTING BIDS: All bids must be submitted to: "mICHAEL dErOSA EXCHANGE, LLC"; either through its online internet bidding portal or in standard purchase offer format sent by e-mail, fax, or hand delivery to: Michael DeRosa, Phone: (315) 406-7355, Fax: (315) 685-7653, E-mail: MichaelDeRosa@TheInternationalExchange.us
Transaction Closing: The transaction closing requirements are to be outlined in the Purchase Contract.
PURCHASE & SALE CONTRACT: PROPERTY Financing, Inspections, & Attorney Review of Title DOCUMENTS AND the PURCHASE CONTRACT is Allowed For Bidders.
BIDDERS DEPOSIT: Due at the time of purchase contract submission. Returned to bidder if bid is not accepted.
ONLINE BIDDING: ONLINE BIDDING IS A VERY SIMPLE PROCESS. IT'S CONVENIENT AND DISCRETE, ALLOWING BUYERS THAT VALUE THEIR PRIVACY TO BID FROM ANYWHERE IN THE WORLD RATHER THAN BIDDING IN PERSON AGAINST OTHER BIDDERS.
INTERNET BIDDERS: THE ACCEPTANCE OF ANY BID SHALL BE CONDITIONED UPON THE SUBSEQUENT EXECUTION BY THE BIDDER AND SELLER OF A WRITTEN PURCHASE CONTRACT OF SALE,INCLUDING ALL REQUIRED ADDENDA AND SETTING FORTH TERMS AND CONDITIONS SATISFACTORY TO BOTH PARTIES.
All bids must be submitted with the following:
1.) A bidding deposit, in the amount of 10% of the Buyers Bid Price, due at the time of purchase contract submission, in the form of a check, to be made payable to and held by Michael DeRosa Exchange, LLC until the purchase contract is signed by Seller, at which time it shall become part of the Purchase Price and shall be deposited in an Escrow account at Manufacturers & Traders Trust Co. (M&T) bank or returned to Buyer if the purchase contract is not accepted.
2.) Proof of Bidders ability to purchase by providing a mortgage loan pre-approval letter, if obtaining financing
3.) Verification of available funds letter from Bidders financial institution, if paying cash.
MINIMUM BID / RESERVE PRICE –N/A: Seller shall have sole and absolute discretion to accept or reject any bids received.
Broker Disclosure Regarding Agency Representation Relationship: Michael DeRosa of Michael DeRosa Exchange, LLC is an Auctioneer and Licensed Real Estate Broker acting in the interest of the Seller as a Seller’s Agent.