704 Russell Street, Sanford, NC

This is a US Federal Bankruptcy Auction of a large "mid-modern" contemporary style partially completed home on a private lake in Sanford, NC. 704 Russell Street is situated on a very large 2.63+/- acre lot overlooking Oldham Lake One with almost 500' feet of waterfront, some of which is already bulkheaded. The lake is suitable for many water activities including boating. The private sloping lot is located at the end of a quiet cul-de-sac with only a couple of other homes. The property is located just off of HWY 421 bypass at Kelly Road, providing quick and easy access to all major highways.

The home is framed, windows/doors installed, and basically "dried-in" and secured. No exterior siding or trim has been installed. The interior is rough framing with some electrcal and plumbing "rough-in". The main level currently is laid out with a large living area with a glass wall overlooking the lake, large deck area, and the bedrooms. The lower level (basically a large "walk-out" basement is currently a single open space, basically a blank canvas. The current tax listing has the main footprint being 2,651 square feet with (4) bedrooms and (3) full baths. It is also listed as having 851 square feet garage with nearly 800 square feet of additional patio and deck space and a very large walk-out basement.

As part of your pre-bidding due diligence, we strongly suggest that you contact the Lee County Inspections departments for any and all information they have about permits, inspections, and other information as to the completion of this project. The property is being sold "as is" and it is the sole responsibility of all potential Buyers to perform all necessary due diligence prior to bidding.

THIS AUCTION WILL BE HELD LIVE ON THE PROPERTY ON WEDNESDAY, OCTOBER 11, 2023, AT 10:00AM. THERE IS NO UPSET BID RAISE PERIOD ON THIS AUCTION, THE FINAL BID AT THE LIVE AUCTION WILL BE THE FINAL BID.

THIS PROPERTY IS VACANT AND CAN VIEWED AND INSPECTED PRIOR TO THE AUCTION DATE BY CONTACTING MIKE GURKINS AT (252) 916-1005 OR DEWEY DUNN AT (252) 916-1002.

TAX CARDS, MAPS, DRAWINGS, AND OTHER DOCUMENTS ARE AVAILABLE BY CLICKING THE RED "MAPS & BROCHURES" TAB BELOW. A LINK TO THE FILES WILL OPEN IN YOUR LOWER TOOL BAR AND YOU CAN OPEN THAT FOLDER TO VIEW ALL OF THE SEPARATE FILES.

LEE COUNTY TAX DATA

ADDRESS - 704 Russell Street, Sanford, NC

PARID - 965381828700

TOTAL ASSESSED VALUE - $309,000.00

DEEDED ACRES - 2.63

SQ. FT LIVING AREA - 2,651

MAIN FOOTPRINT - 2,651

YEAR - 2018

TERMS & CONDITIONS

SELLER – This property is being sold by CBA under Order of or with Notice to The United States Federal Bankruptcy Court

THE PROPERTY IS BEING SOLD “FREE & CLEAR” OF LIENS – This property is being sold by Court order of having no liens.

THE PROPERTY IS BEING SOLD “AS IS, WHERE IS” – This property is being sold in its current condition with no Buyer contingencies. The information included in the advertising, sales packages, and other is intended for general information purposes only. This information has been provided to us as accurate from outside sources, public records, and other information platforms, however the Seller, Country Boys Auction & Realty, Inc., its employees, Brokers, and associates, hold themselves harmless for any and/or all the information provided in this package. Furthermore, all drawings, maps, letters, descriptions, etc., are “unofficial.” It is the sole responsibility and obligation of the buyer to inspect the property prior to the time of sale and do any and all research they deem necessary prior to bidding.

BROKER - Country Boys Auction & Realty, Inc., its Brokers, and employees are agents for the Seller and have no dual agency representation of responsibilities. Any agent or Broker working with a Buyer will be a Buyer's Agent and would need to be compensated by the Buyer.

DEPOSIT - A deposit in the amount of 10% of the high bid amount is required by the high bidder immediately upon completion of the auction. Cash or check is accepted. The property is being sold “free and clear” of all liens, or with liens satisfied at closing.

CLOSING – The balance of the sales amount will be due at closing. The Buyer will have (30) days from the time of confirmation to close on the property.

TAXES - The property is being sold with taxes prorated as of day of closing, meaning the current year taxes will be split between the Buyer and the Seller based on the closing date; the Seller will pay all prior year’s taxes.

NO BUYER’S PREMIUM - THIS IS A PUBLIC AUCTION