OLD ORCHARD BEACH
Real Estate Auction !
Saturday May 1st at 12 Noon
On-site at The Regina Hotel
31 Atlantic Avenue
Old Orchard Beach, Maine

OPEN HOUSES
Saturday April 10th from 10 to 2
Saturday April 17th from 10 to 2
Saturday April 24th from 10 to 2
Thursday April 29th from 4 to 6
Saturday May 1st from 10 to 12 Noon

SUBJECT TO A VERY REASONABLE MINIMUM BID.
THIS PROPERTY WILL BE SOLD !

STEPHEN BENNETT AUCTIONS have been commissioned to sell this wonderful piece of Old Orchard Beach history at Public Auction ! The date of the auction is Saturday May 1st. The auction will begin at 12 Noon.

This auction represents an excellent opportunity to purchase this distinctive piece of Old Orchard Beach history & commercial real estate. Known as the Regina Hotel, the main building features 12-guest rooms, several baths, and a wonderfully large dining room and kitchen. The hotel was fully permitted in 2003, though the owner operated it only for a few weekends. There is alos a 2-story duplex on the property that features a 1-bedroom & a 2-bedroom unit, as well as a small storage area. The property is only a short walk to some of the best beaches in New England; you can hear the pounding surf from the rooms. It is also close to the amusement park and The Pier.

This will be a live bid auction, held right at the property.

This property was recently part of an estate and inherited by the current owner, the daughter of the past inn keeper who ran the hotel full time until only a few years ago. It has been in the same family since 1917. The Owner is moving to Florida and has chosen a Real Estate Auction as the method of which to sell the property. This sale is subject to a very reasonable minimum bid. All reasonable bids will be accepted. We are determined to leave the auction having sold this property, so please come prepared to bid. Don't miss out on this great opportunity to own a piece of Old Orchard Beach real estate !

Information provided here and in the Bidders' Information Package is provided as a guide to the property and the auction procedure. As a prospective bidder you should do as much independent research as is necessary for you to make an informed and educated decision to bid.

We will be holding several open houses at the property prior to auction day. These open houses are an opportunity for you and your building inspector to view the interior & exterior of the buildings. Please keep in mind that you are buying this property in "as is" condition. All inspections must be done prior to the auction so please feel free to bring an inpector / builder to the open houses. There will be no inspection contingencies in the sales contract. Private showings are also possible.

Terms: $10,000 cash or Certified Check (made payable to Stephen Bennett Auctions) to obtain a bidding number; additional $10,000 deposit due by within 72 hours of the auction. Winning bidder must close on or before June 11th, 2004. Winning bidder's deposit will be deposited in to our escrow account and credited to the purchase price; other deposits will be returned immediatley following the auction.

DIRECTIONS: In the heart of Old Orchard Beach. From the Maine Turnpike (Interstate 95) get off at Exit-5; follow signs to US Route-1 North towards Saco; stay in the left lane following signs to Rte-5 Old Orchard Beach; this access road is known as Rte-195 and turns into Rte-5 at the southern end of OOB; then bear left at the 7-11 towards Ocean Park and Town Center Beach; go thru the stop light at the Loranger Middle School and baseball park (towards the water tower); shortly you will see Atlantic Ave. on your right.