Up for auction is a residential lot east of Lake Arrowhead in San Bernardino County. The property is several thousand feet, or a short walk to Lake Arrowhead and Papoose Lake. It has road frontage on Walnut Drive and Hazelnut Drive and there are power lines and homes nearby. Buyer to research development potential.
THIS IS A BID & ASSUME AUCTION. You are bidding on the down payment and the full purchase price is $7,900. The interest rate is 9% and the duration of the note is 6 years. On a $1 down payment, the monthly payment would be approximately $175/month, including principal, interest, property taxes, and servicing fee. There is no prepayment penalty to pay the note off faster.
If you sign up for autopay through a credit card or ACH from a checking account, the interest rate will be lowered to 7% and the payments will be reduced to $167.
The down payment (which will be equal to the winning bid) and a deed preparation and recording fee of $199 will be due within 3 business days of the auction's close and may be paid by PayPal, cashier's check, or wire transfer. The note would then be set up and serviced by a loan servicing company (it must be signed within 14 calendar days of the auction's close). This is a land contract sale, where the deed is held in escrow and will not be recorded until the note is paid in full. All monies paid are non-refundable.
PROPERTY WILL BE CONVEYED CLEAR OF ANY LIENS OR BACK TAXES!
PLEASE MAKE SURE YOU'RE READY TO FUND THE DOWN PAYMENT BEFORE YOU BID!
The following info was provided by San Bernardino County and should be verified prior to purchase.
| Address: | Walnut Drive, Lake Arrowhead, CA 92321 |
| County: | San Bernardino County |
| APN: | 0330-082-11-0000 |
| Legal Description: | TRACT 1921 LOT 11 BLOCK 12 TR NO 1921 LARCHMONT LOT 11 BLK 12 |
| Lot Size: | Approx. 3,500 sq. ft. |
| Property Taxes: | $266.39 |
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Auction Disclaimer
All property is sold as is, where is, with no warranties expressed or implied. It is the duty of prospective buyers to research properties to their satisfaction prior to bidding, and a bid shall constitute a binding contract, in which the buyer is agreeing to abide by the Terms of the Auction.
Thanks for looking and good luck with your investments!
