City Revere

State MA

Zip Code

Auction Date
2/29/2012 at 2:00 PM

Property Type
Multi-Family

Deposit Amount
$50,000 in bank, cashier's or certified check at the time and place of the sale.

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31 unit apartment/retail building on a .24 acre corner lot located across from City Hall. This brick building contains 21,000 square feet and was renovated in 2000. The units breakdown as follows:

(6) 360 sq. foot studio apartments
(14) 590 sq. foot one bedroom apartments
(6) 706 sq. foot two bedroom apartments
(5) 1,277 sq. foot Commercial units
Square footage is an average for each unit type.

**** The highest bidder in the sale of the premises shall deposit a bank treasurer's check, or certified check in the amount of Fifty Thousand Dollars ($50,000.00) at the time and place of the sale of the premises as a non-refundable earnest money deposit towards the purchase price to be held at the option of the Mortgagee as liquidated damages for any default by the successful bidder. The highest bidder in the sale of the premises shall then be required to remit by federal wire transfer an additional non-refundable deposit in an amount equal to five (5%) percent of the purchase proce within 7 days of the date of the public auction. The balance of the purchase price shall be paid within thirty (30) days of the date of the public auction. The deed will be provided to the successful bidder upon receipt in full of the purchase price. The successful bidder shall be required to sign a Memorandum of Sale at the public auction containing the terms herein and any additional terms set forth in the Memorandum of Sale or announced at the public auction.