43 Acres Plus 11 Residential Lots & 5 Commercial Lots to be Auctioned by Upstate SC Bank

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A South Carolina based bank has chosen to auction 3 properties in the Boiling Springs and Inman SC Communities. The Banks desire to liquidate the properties is evidenced by the extremely low minimum bids.

A South Carolina based bank has ordered three Spartanburg County properties to be sold at auction on Tuesday October 19th, 2010. The Auction Co. & Real Estate & Bob Leonardi who have marketed & sold hundreds of millions of dollars of real estate around the southeast will be handling the auction. Two of the properties will be sold with extremely low opening bids and the third will be sold Absolute (without reserve).

The first two properties are located roughly two miles from the Super Wal-Mart in Boiling Springs off of Parris Bridge & Old Furnace Rd.

Auction #1: 43 Acres – Parris Bridge Road, Boiling Springs
Currently appraised for $453,000 Bank Ordered To Be Sold To the Highest Bidder Above $75,000
With easy interstate access, convenience to shopping & gentle topography plus a large pond create the right elements for residential development. A driving range is currently leasing a portion of the property which can provide cash flow for a buy and hold.

Auction #2: 5 Commercial Lots – Old Furnace Road, Boiling Springs
Each Lot Bank Ordered To Be Sold To Highest Bidder Above $7,500
These lots are located in a prime growth area with easy interstate access and adjoins a subdivision of $300,000 to $400,000 homes.
Note: The commercial lots & 43 Acres will be sold at 12 Noon on October 19th, from the 43 acre parcel

Auction #3: 11 Affordable Subdivision Lots- Inman/Campobello Area
Auction On-Site Tues. Oct. 19th @ 6pm
Johnson Fields is a largely built-out neighborhood comprised of tastefully designed home with stone accents priced from $125,000 to $165,000. These home sites range in size from 0.57 acres to 1.5 acres, have been graded, and are construction ready.
These lots will be Sold Absolute which means there is no minimum price and they will be sold regardless of price.

All interested parties are encouraged to watch the online presentation at http://www.ChooseAuction.com which provides details about the auction, additional property pictures, surveys, fact sheets, terms, restrictive covenants and more.

The Auction Co. & Real Estate Inc., headquartered in Greenville SC, is one of the southeast’s leading auction companies specializing in bank assets, pre-construction development, homes, commercial properties and other high end real estate. More auction information: http://www.chooseauction.com
For information please call 1-800-576-7653.

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