INCOME PRODUCING 4PLEX AUCTION

Wow, What a property! Modern brick 4 plex in Watford with many updates. Near schools, shopping and churches. An Online Only AuctionMonday, April 17 to Thursday April 20604-610 Scenic Drive, Watford, OnOpen House Times: WEDNESDAY, APRIL 5TH FROM 6PM UNTIL 7PM.FRIDAY, APRIL 14TH FROM 4PM UNTIL 5PMSATURDAY, APRIL 15TH FROM 4PM UNTIL 5PMHeating and Cooling: Forced air gas and central airWater: Municipal Sewer: City sewersServices: Electricity, Telephone, cable, internet Rental Equip.: No rentals Exterior: BrickDriveway: GravelFoundation: BlockRoof: Ashphalt ShinglesFlooring: Carpet, Cushion/Tile/LinoLot size:60' frontage x 150' deepFloor Room Sizes in each unitMAIN FLOOR LIVING/DINING ROOM -29'4" x 10'KITCHEN-9'9" 9'9"MAIN FLOOR 4 PCE BATH - 4' X3'10"BEDROOM -9'9" X 9'1"BEDROOM - 9'9" X 13'2" BEDROOM - 9'9" X 13'2" Closets in each bedroomScenic Drive Income/ExpensesIncome:Apt 604 - $725/monthApt 606 - $700/monthApt 608 - $675/monthApt 610 - $675/monthTotal Income = $2775/monthExpenses:Taxes 2016 - $2097 = $174.75/monthWater/Sewer as of 2017 bills are monthlyApt 604 and 606 - $61.25 = $30.63/unitApt 608 and 610 - $81.44 = $40.72/unitInsurance (see attached a cover letter from Bebingh Insurance)$1356.48 = $113.04/monthTotal Expenses = $430.48/monthTenants pay their own hydro and natural gas.New front sidewalks fall 2016All fridges, stoves, electric water heaters are owned by landlord and included with property. Most are less than 4 years old.Gas fireplaces are also owned by landlord and included with property.Seller Name: John and Carol Ruth Auctioneer JOHN VANKLAVEREN 519-331-1095 Real Estate Terms and Conditions: Being sold subject to owners confirmation. When accepted the successful purchaser will tender their deposit of $2,500.00 in a certifiable cheque made payable to VANKLAVEREN Auctions in Trust. Remainder on closing in 30 days or sooner. All verbal announcements take precedence over all written material. Not responsible for accidents. 10% Buyers Premium on Real estate.Page 1Municipality:604-610 Scenic Drive, Watford, OnLegal Description:LT 61 PL 620; WARWICKDISCLAIMERBe advised that the information contained herein is to the best knowledge of the provider or was compiled from Public Information, and is provided to you without warranties or representations of any kind, and the property is offered as is and where is, with all faults and that no warranties or representations are made in connection with the property whatsoever.BIDDING INFORMATIONThe Auction of this piece of Real Estate is an Online Only event with www.youcanbid.ca. You will have the opportunity to bid as many times as you like and upon conclusion, the highest bidder will be declared the buyer subject to the approval of the Vendor. The Auctioneer's decision is final.WHAT HAPPENS NEXT?REAL ESTATE TERMS AND CONDITIONS: 1. All buyers must register for auction. Pre registration is available. There is no charge to register for the Auction.2.There is a minimum opening bid of $50,000.003.An irrevocable deposit of $2,500.00 will be required from the successful bidder immediately following the Auction. This amount needs to be certified, bank draft or money order made payable to VANKLAVEREN Auctions Inc. in Trust. The funds must be in the account upon which the cheque is written at the time it is written. There is no charge to register for the Auction. 4.Closing will be in 30 days or sooner5.No conditions may be added to the agreement by the purchaser either at the Auction or otherwise.6.Access to land and buildings will be on closingPage 2PROCEDURES & TERMS1.All bidders and others attending this Auction agree that they have read and fully understand these terms and agree to be bound thereby. These terms are in addition to any other posted information if any.2.Registration for the Real Estate Auction will begin immediately. Auction commencing promptly at 8am on April 17/17at www.youcanbid.ca, On . Anyone interested in bidding must register.3.Questions will be entertained only prior to the commencement of the Auction proceedings. 4.Auctioneers reserve the right to reject any or all bids and reserves the right to bid on behalf of an absentee bidder. The existence of absentee bidders if any will be disclosed at the beginning of the auction.7.Buyers Premium: There is a 10% Buyers Premium on this property, plus HST (on the Buyers Premium only)8.Agency: Buyer acknowledges that the Auctioneer represents the seller.9.Closing Costs: Purchaser will incur standard closing costs as would be the case through any Purchase of Real Estate in the Province of Ontario.