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WMR
10-21-2022, 11:20
Not sure why, but it's up for auction

Toolshed
10-21-2022, 13:46
It was listed for $899K a few months ago - Price seems very high. An auction makes me wonder if there is anything an inspection might (or might have already) turned up. Either that or there is little interest from prospective buyers within a suitable time-frame? Not sure why else something wwould go to auction... Thoughts?

peakbagger
10-21-2022, 16:50
I think the owner had had some health issues at one point and possibly the sale is not voluntary?. I expect the number of folks with cash in pocket to buy the place are few and getting a bank involved adds a whole lot of more paperwork. Few if any hostels are code legal and a bank would want to make sure that if they get stuck with it they can resell which means by the book.

Captain Blue
10-21-2022, 17:49
An auction means a fast sale.

gpburdelljr
10-21-2022, 18:26
Not sure why, but it's up for auction
Is this current? The web address at the bottom of the picture doesnít work.

Captain Blue
10-21-2022, 19:33
Is this current?

Yes, look here: https://www.facebook.com/thestationat19e/

gpburdelljr
10-21-2022, 19:52
Yes, look here: https://www.facebook.com/thestationat19e/
Don’t have Facebook.

Captain Blue
10-21-2022, 20:08
Donít have Facebook.

Ok, look here: https://proteamauction.hibid.com/auction/404003/the-station-at-19e-business-and-real-estate--timed-auction/

gpburdelljr
10-21-2022, 22:08
Thanks.
I see that bidding ends on November 4th, and the seller can accept, or reject, the highest bid.

ldsailor
10-22-2022, 10:07
It's going to be a hard sell with interest rates where they are (around 7% for residential homes). Then the Fed meets and will announce another interest rate increase a day before the bid closes. If I was a betting man, the property will not sell.