KIRKSVILLE, Mo., Jan 15, 2019 /PRNewswire/ -- The Twin Pines Adult Care Center building at 316 S. Osteopathy Street will be offered in an online auction January 15-17, to be conducted by Williams & Williams Real Estate Auctioneers through its affiliate company AuctionNetwork.com.
The online auction will replace the canceled live auction. Company officials at Williams & Williams determined an online only auction is the best strategy for competitive bidding. To date, no competitive high bid has been recognized. However, officials at Williams & Williams anticipate the online auction will create a better bidding atmosphere, and ultimately produce a competitive high bid.
"We are holding this auction again to give the seller and the public the transparent transaction it desires while allowing bidders to maintain privacy during the bidding process," said Fontana Fitzwilson, executive vice president of Williams & Williams. "An online auction is the ideal method to achieve this and we are happy to be able to finalize this transaction for the seller so that they can move on to complete other projects they are working on."
Fitzwilson said there is still interest from multiple parties for the property and all parties who expressed interest previously will be re-contacted about the new auction date. Due to a deed restriction, the property will not be able to be re-used as an adult skilled nursing care facility.
Fitzwilson said while bidders will be able to bid with anonymity online, they will have to provide identification to register for the auction. Bidding will open at 10am Tuesday January 15, and close at noon Thursday January 17. Viewers may watch the bidding in real time at auctionnetwork.com.
A buyer's premium of 5% will be applied to the high bid. The buyer will need to be able to sign a contract electronically immediately after the auction and provide down payment funds of 10% of the high bid plus buyer's premium. The balance of funds is due at closing in 30 days. For photos and full terms of sale, please visit https://www.williamsauction.com/Kirksville.
SOURCE Williams & Williams