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

4-bedroom, 2-bath fixer-upper on a 1/3-acre lot. 2-car garage.
Minimum bid under $200,000 ! This property Will Be Sold !

Download Purchase & Sale Agreement HERE

---

DEAR PROSPECTIVE BIDDER,

 Thank you for your interest in the Estate Settlement Auction of the Real Estate of 1281 Islington Street in Portsmouth, NH.  The auction will be held on-site on Saturday morning June 21st at 11:00 AM sharp.

This property has been in the same family for about 100-years.  It is being sold to settle the Estate of Miss Nellie Ingram. This is not a foreclosure auction.

There are no back taxes or liens on the property.  The new owner will get a Warranty deed. Title insurance is available.

The information contained herein 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.

The sale is subject to a very reasonable minimum bid; well under the assessed value of $259,000.  We are determined to leave the auction having sold the property, so please come prepared to bid ! This property will be sold !

You will buying this property in "as is" condition.  The Purchase & Sales Agreement will not be contingent upon financing or a home inspection.  Therefore, we encourage you to attend any or all of the Open Houses with your inspector  / builder.   All inspections must be done prior to the auction, there are no inspection contingencies in the Purchase & Sales contract.

The closing must take place on or before July 18th.

We look forward to working with you.

Please feel to call our office should you have any questions.

Sincerely - Stephen Bennett, Auctioneer

NH License No. 2423

---

PROPERTY INFORMATION

Address: 1281 Islington Street, Portsmouth, NH

Town Reference: Map 0233, Lot 120 / Book 4862, Page 1599

Portsmouth Property Taxes: $4,400 per year (2008)

Portsmouth Tax Assessment: 2008 Assessment of $259,000, land & buildings

House: The house is fairly large, an almost 2,000-square-foot colonial, with at least 4-bedrooms on the second floor, in addition to a potential first floor master suite. There are currently two full baths in the house, one on each floor. Although the house has been neglected for several years by the most recent elderly owner and needs a lot of work, it is a house and property screaming with potential; built around 1900.

Garage: There is a detached 2-car garage that has been recently updated.

Lot: A nice city lot of .40-acres, treed, 106-ft of road frontage on Islington Street.

The property is serviced by city water & sewer.

Zoning / Uses of the Property: The zoning is SRB which essentially allows only single family homes, in-house occupations, and day care with a special exception.

Radon Gas - Radon gas, the product of decay of radioactive materials in rock may be found in some areas of New Hampshire. The gas may pass into a structure through the ground or through water from a deep well. Testing can establish its presence and equipment is available to remove radon gas from the air or water.

Lead Paint - This house was built prior to 1977 and prior to 1977, lead based paints may have been used in such structures. The presence of flaking lead paint can present a serious health hazard, especially to young children and pregnant woman. Tests are available to determine whether lead is present. We believe that there is lead paint in this house.

---

AUCTION INFORMATION

Property being Auctioned: 1281 Islington Street, Portsmouth, NH

Auction Location: On-site at the property

Date of the Auction: Saturday June 21st.

Time: The bidding will begin at 11:00 AM. Registration begins at 10 AM.

Type of Auction: Estate Settlement Auction, not a foreclosure.

There is a very reasonable minimum bid.

The Hammer Price (bid price) is subject to a 10% Buyer's Premium.

Deposits: An Initial Deposit of $10,000 must be given to the Auctioneer at the time of registration in order to obtain a bidding number. Said deposit must be in the form of Cash or a Certified Check. The deposit from the successful bidder will be deposited and held in the Auctioneers 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 5 PM on Tuesday June 24th, bringing the total deposit to $20,000. 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 that document is enclosed in this package for you to review.

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

Closing: The closing and transfer of the title & deed must take place on or before July 18th, 2008.

Liens & Encumbrances: As this is not a foreclosure auction, the property will be transferred to the new owner free and clear of all liens and encumbrances. There will be no back-taxes, outstanding water bills, etc. that the Buyer has to pay.

Inspection: The 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.

Viewing: Several Open Houses will be held prior to the auction. Please see the Open House Schedule at the top of this page.

Warranty: This house needs a lot of work. It is important to note that this property is being sold AS is. No warranty, either expressed or implied is made by the Owner or the Auctioneer. No warranties, guarantees or representations of any kind are made with respect to any aspect of the property, either above ground or under-ground; or it's potential uses.

---

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.