3/2 Fixer

SALE PENDING

AUCTION PAUSED

34411 Lodge Drive

Zephyrhills FL 33543

19-03-001-a

eBay logoStarting bid: $15,000

Reserve: NONE

Auction Begins: Sale Pending, Auction Paused

Auction Ends: Sale Pending, Auction Paused

eBay Auction No.: Sale Pending, Auction Paused

Description:

Note: Timber Lake Estates is, officially, a condo association rather than a homeowners association, but, for all practical purposes, there is no difference. Homeowners each own their own lots plus share equal rights to the common areas.

  • Full Lot Ownership – Not a Lot Rental
  • .11 ac. lot
  • 3 Bedroom (See Gallery for more pics)
  • 2 Bath (See Gallery for more pics)
  • Fixer Upper
  • Double Wide Manufactured Home
  • Built in 1998
  • Partially Open Floor Plan (See Gallery for more pics)
  • Easy to Convert to Fully Open Plan
  • Vaulted Ceilings
  • 1620 sq. ft.
  • 27′ x 60′

Ideal Property for:

  • Fix and Flip Investors
  • Fix and Live Homeowners

Comp Info:

  • After repair value estimate of $90,000 is $55 / sq ft.
  • Starting bid on property is less than $10 / sq. ft.
  • Liens on property are less than $10 / sq. ft.
  • Remodeled comps in the same community recently sold for about $60 / sq. ft.
  • Compare currently for sale comps in the same community listed on:
  • Compare Zillow estimated values for nearby properties.

Estimated Annual Property Taxes Based upon Current Rates:

  • 2019 (already assessed): $1200
  • 2020 Based upon Current Assessment:
    • With Homestead Exemption: $500
    • Without Homestead Exemption: $1200
  • 2020 Based upon $90,000 After Repair Value Assessment:
    • With Homestead Exemption: $800
    • Without Homestead Exemption: $1500

Association Fees: $165 / mo

Association Fees Cover:

  • Unmetered Water and Sewage
  • Lawn Service
  • Trash Pickup, 2x weekly
  • Street Lights
  • Street Maintenance
  • Clubhouse
  • Pools
  • 24 Hour Security at Gate and on Patrol

Disclosures:

  • Buyer assumes existing liens, approx. $16,000:
    • Back real estate taxes: approx. $7,000, approx. $4000 of which MUST be paid by June 19, 2019, to prevent a tax deed sale on June 20.
    • Back association fees: approx. $9,000. Association is willing to wait for the back association fees until a move-in buyer closes.
  • Property had some roof and plumbing leaks which have been patched.
  • Subfloor areas which were damaged from the leaks have been patched, but the leak stains still show on subfloor.
  • Property still needs a new roof and some plumbing upgrades, and a total interior redo, including new kitchen and baths.
  • Association requires occupants to be background checked before moving in. Association is very reasonable on these background checks for owners, but tends to scrutinize renters more.
  • HOA has no age restrictions, and is family friendly, but but does have a high percentage of seniors.
  • Florida law requires us to tell you: Before buying this property, you should first read the STATUTORY PROPERTY TAX DISCLOSURE SUMMARY.
  • Florida law also requires us to disclose a bunch of association documents, most of which you probably don’t care about and won’t read.

A/C Inspection Report:

AC inspection report

County Appraiser’s Report: 19-26-21-0050-00000-4820

Title Abstract Docs: Coming Soon

Closing Terms: Cashier’s Check in Full

Seller Financing: None

Seller Contingencies: None

Buyer Contingencies Allowed: None

Deed at Closing: Florida General Warranty Deed, example terms. Note: Any Florida general warranty deed form with substantially the same language is acceptable to seller.

Lien Alternatives:

  • Buyer may choose to pay off the liens at closing; or
  • Close with the liens in place, fix it, flip it, and pay off the liens out of the next closing.

Closing Date: Within 10 Days after Auction Ends

Closing Type: Buyer’s Choice

  • Deed Office
  • Title Company
  • Attorney

Closing Costs Paid by: Buyer

Auction Fees Paid by: Seller

Title Insurance Paid by: Buyer (if wanted)

Other Terms:

  • Property is a fixer upper and is being sold AS IS.
  • In the event seller makes any payments before closing towards the tax or Association liens, buyer will repay seller at closing.
  • Seller will only make such payments if necessary.

lock codeOccupied: No

Coded Entry:Yes

Broker Co-op: 0%

Buyer’s Auction Fees to Register: None

Buyer’s Auction Fees to Bid: None

Buyer’s Auction Fees to Win: None

View this Auction: Sale Pending, Auction Paused