DESCRIPTION OF ITEM
A 1/3 Interest in a Real Estate Contract/Promissory Note for $100,000 with a principal balance of $59,213.07 as of 6-30-2013 and an interest rate of 6-1/2% per annum until paid. The Real Estate Contract (Click here) is for property in Las Vegas, San Miguel County, NM, known as: Lots six (6), seven (7) eight (8) & nine (9) in Block B of Rosenwald Addition to Las Vegas, San Miguel County, NM. The site address is 211 Grand Avenue Las Vegas, NM 87701. There is a building on the property that currently houses a Fraternal Order of the Eagles Lodge. The 1/3 Interest in the Real Estate Contract will be assigned over to the Buyer of the Note/Contract and the Buyer will collect his 1/3 Interest of the remainder of the amount owed on the Contract once the Transfer has been completed. The Grantees on the Contract are paying approx. $600 per month. The 1/3 portion being sold is $200 per month. Southwest Capital Bank in Las Vegas, NM is currently handling the escrow account and there is an Assignment Transfer fee of $100.00. To view a copy of breakdown of the payments of $200 monthly being received by the Bankruptcy Trustee Click Here.
IMPORTANT LEGAL INFO
CSAssets specializes in the liquidation of Bankruptcy Assets and Personal Assets. All Bankruptcy Assets are sold “AS IS WHERE IS” with no warranties implied or stated. The Seller and the Bankruptcy Trustee are not responsible for issues, if any, with the title, the condition of the property, or any liens or encumbrances against the property. CSAssets has to rely on the property description that has been provided by the County Offices and the Debtor. CSAssets cannot guarantee that all of the information is accurate. The Buyer will be entirely responsible for this property after the sale, including but not limited to: paying any fees associated with the transfer of the property, the recording of the deed and transfer of Title and the gathering of any documentation necessary for that process. The Seller and Trustee are Not Realtors. CSAssets and the Trustee shall be under no obligation to the buyer except to provide the Buyer with an Assignment of Contract for the property. CSAssets recommends all bidders perform their own due diligence PRIOR to bidding on this item. As with any Bankruptcy case, this sale may be subject to court approval. Please read all sections of the ad carefully, particularly for real estate sales.
LIENS We do not know of any liens.
NOTES
This is all we know about this asset. A title search has NOT been performed on this item. CSAssets does not provide title insurance and Escrow is not an option for these sales. If title insurance is desired, the buyer will be responsible for obtaining it through a Title Company. A document preparation fee of $250 will apply and will be included in the total of your invoice. Any fees/liens owing on this item are not part of the final bidding price. Serious Bidders Only. A bid submitted by a potential Buyer is an agreement to our Terms. The eBay disclaimer regarding “contract to purchase” does not apply to our U.S. Bankruptcy Court Ordered Sales. Potential Buyers should not bid unless the fully intend to complete the sale.
Item ID: Edwards01
Case Name: Ralph & Grace Dean Edwards
Case Number: 10-14329-ABC
