PORTSMOUTH, NH
Real Estate Auction !
Friday June 4th at 10 AM
On-site at
139 Dennett Street
Portsmouth, NH

OPEN HOUSES & INSPECTIONS
Friday May 21st from 5 to 7 PM
Saturday May 22nd from 11 AM to 2 PM
Thursday May 27th from 10 AM to Noon
Thursday May 27th from 4 to 6 PM
Saturday May 29th from 11 AM to 2 PM
Thursday June 3rd from 4 to 6 PM

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

DEAR PROSPECTIVE BIDDER,

Thank you for your interest in the Auction of the Real Estate at 139 Dennett Street in Portsmouth, NH being conducted on Friday June 4th at 10 AM.

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

This house has been owned by the Nelson family almost a century. The elder Mr. Nelson is now in a nursing home and this property is being sold to support his care.

This auction represents an excellent opportunity to purchase one of the few remaining handy-man specials remaining in the City of Portsmouth. The house is centrally located in the North End of Portsmouth with (minimal) views of the North Mill Pond. It is a charming family neighborhood yet walking distance to downtown and easy access to the highways and shopping. The house, although in need of repair, is truly a diamond in the rough. The electrical system has recently been updated to 100-amp circuit breakers with Romex wiring through-out. The new roof was put in place several years ago which stopped the leaks that have caused some damage over the years. What you are left with is a large and bright 1,800-square-foot center-stairway Colonial-style home with (4) good size bedrooms with ample closets, a very large kitchen with a walk-in pantry, dining room, living room, room for (2) full baths, a full basement and a full attic.

This sale is subject to a very reasonable minimum bid; certainly reasonable enough to insure that this property will be sold ! 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 !

The following information 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 will buying this property in "as is" condition. All inspections must be done prior to the auction as there will be no inspection contingencies in the sales contract.

Please review the information contained in this catalogue. If you have any questions you may call our office at 603-431-5599 or e-mail us at sbauctions@aol.com.

We look forward to working with you.

Sincerely - Stephen Bennett, Auctioneer
NH License No. 2423

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AUCTION INFORMATION

AUCTION INFORMATION

Date of the Auction: Friday June 4th, 2004

Time: The bidding will begin at 10 AM. Registration will begin at 9 AM the morning of the auction.

Auction / Property Location: 139 Dennett Street, Portsmouth, NH

Bids: There is a very reasonable minimum bid. This property will be sold !

An initial Deposit of $10,000 must be given to the Auctioneer prior to the auction in order to obtain a bidding number. Said deposit must be in the form of Cash or Certified Check made payable to Stephen Bennett Auctions. The deposit from the successful bidder will be deposited and held in our escrow account. Deposits of the other bidder's will be returned immediately following the auction.

A second deposit of $10,000 is due payable by Monday June 7th, bringing the total deposit to $20,000. Of course, the entire deposit will be credited towards the final purchase price.

All deposits are non-refundable should the successful bidder (Buyer) fail to close or consummate the transaction for any reason.

Qualifications of Bidder: The only qualification to bid on the real estate at this auction is the presentation of the $10,000 Deposit. Bidding is open to the public without regard to race, color, sex, religion or national origin.

Purchase and Sale Agreement: Immediately upon conclusion of the bidding the successful high bidder will be required to sign and execute the Purchase & Sales Agreement, as well as any other appropriate documents deemed necessary. A copy of the P&S is available for downloading -- click here.

Closing: The closing and transfer of the title & deed must take place on or before Friday July 16th, 2004. The balance of the purchase price is due at this time. Should the Buyer desire, the Owner is prepared to close ASAP.

Title: At the Closing, the Seller shall provide a Warranty Deed to the Buyer.

Liens & Encumbrances: This is not a foreclosure auction, therefore, all liens and encumbrances will be paid by the Seller at the Closing. In other words, there will be no back-taxes, water bills, etc.  

Inspection: This property is being sold "as is", therefore, Bidders are encouraged to inspect the property prior to bidding. You may bring your home inspector / builder / etc. to any of the open houses or make an appointment with the Auctioneers office prior to the day of the auction. Please see the Open House & Inspection schedule above.

Viewing: Several Open Houses will be held prior to the auction. You may visit the property as many times as you wish. Please see the Open House & Inspection schedule above.

You may also drive-by the property (please do not inquire within); or make an appointment with the Auctioneer if you can not make the open houses.

Property Taxes: $3,500 per year / City Tax Map 142, Lot 24 / Assessment $196,000.

Directions to the Property: Dennett Street runs between Maplewood Ave. (just past the Portsmouth Herald and over the little bridge) and Woodbury Ave. (Holiday Inn), and along the North Mill Pond.

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TERMS & CONDITIONS

Terms & Conditions of the Auction - The subject real estate is offered for sale at public auction. This sale is subject to the following terms & conditions:

Remember, there are no inspection contingencies in the Purchase & Sales Agreement. We encourage you to bring your building inspector to the open houses prior to the Auction.