AUCTION DETAILS

Spartanburg, SC - 3 Bedroom Home

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Bankruptcy Court Sale

Online Bidding Only

364 Ridgewood Avenue,  Spartanburg, SC 29306

3 Bedroom Home in Spartanburg, SC
being sold subject to bankruptcy court approval

See listing for details on how to bid and participate in this bankruptcy sale

Online Bidding Only

Began: Tuesday, October 13, 2020 at 12:00 PM EDT

Ends: Friday, October 30, 2020 at 5:00 PM EDT

Details

The following property is being sold subject to bankruptcy court approval. Please read the information below for how this process works.
 
3 Bedroom, 1 Bath Home
Living Room, Kitchen with Dining Area
Corner Lot
Located at corner of Ridgewood Ave and Union St
 
Property was occupied at time of photos, but is now vacant.
 

Bankruptcy Sale Approval Process
Click here to download contract, terms, and disclosures

An offer of $15,000 for the property was submitted to the bankruptcy court for approval on October 9, 2020. 

The offer is a cash sale, no contingencies. The property was previously sold at delinquent tax sale and sells by Quitclaim Deed only.

Update: We were informed that the owner completed the quiet title action. It is recorded in Book 118-P, Page 512. Title insurance may be available to the buyer, but is not guaranteed. Check with your attorney prior to bidding.

This offer is subject to objections by creditors or higher bids by other bidders until October 30, 2020 at 5:00 PM. 

If no additional bids are received, bidding will close.

If additional bids are received by the time above, then bidding will be extended until the court scheduled hearing date. The hearing is scheduled for November 17, 2020.

In order to make the process easier for you to participate, we are making online bidding available on our website. If there are bids prior to October 30, 2020, online bidding will be extended until November 16, 2020 at 5:00 PM.

Bidding extensions of 5 minutes will apply if a bid is received in the last five minutes. See online bidding terms for details on extended bidding. The highest bid will be submitted to the court at the hearing.

To be approved to bid on this property, bidders must make a $3,000.00 deposit by cashiers check or wire transfer in order to bid. Once the deposit is received, you will be approved to bid. (This deposit matches the deposit made in the initial offer, so everyone is on the same level.)

If you are the winning bidder, the deposit will be applied toward your purchase price. If you are not the winning bidder, then your deposit will be refunded to you.

Note: The process described above does not supersede the hearing approval process. It is being made available to make the process easier for you to participate in the bankruptcy sale.

The scheduled hearing may be in person or by telephone at the discretion of the judge. Your attendance may or may not be required. Historically, hearings have been in person, but due to COVID-19, hearings have recently been held by telephone. 

Approved bidders will be notified in advance of any changes to the process. 

Please contact us at 864.268.4399 with any questions regarding the sale procedure.

Click here for online bidding