Your Dream Home for $75K

This is off my regular blogging topics, but I just could not resist. I’m not kidding… You can own your dream home, or Mansion for U$D75K in Ponca City, Kay County, Oklahoma. I’ve heard a lot about getting rich on real estate etc, But this is simply awesome. This 5300 SqFt historic home built in 1916, contains full basement, possible extension for third floor, Mother-in-law quarters, 2 car garage and 15 x 20 storage building. I’m sure you’d say seeing is believing, so here are some pictures of the ACTUAL property listing. (note: This is a foreclosure sale. The property is being sold subject to current year (2006) and delinquent real property taxes for Kay County, Oklahoma in the following amount: $1,384.52)

Front view of the property

Another view of the property

View from across the street
Here are Terms and Conditions of the sale of this property:

The sale of the property shall be free and clear of any interests of The Taxpayer.

The sale shall be subject to building lines, if established, all laws, ordinances, and governmental regulations (including building and zoning) affecting the property, and easements and restrictions of record, if any.

No bid shall be accepted unless it is accompanied by a certified check or cashier’s check, in the minimum amount of $7,500.00, made payable to the United States District Court for the Western District of Oklahoma. Before being permitted to bid at the sale, all bidders shall display proof that they are able to comply with this requirement. No bids will be received from any person who has not presented said proof.

The successful bidder shall tender the balance of the purchase price, in certified funds payable to the United States District Court of the Western District of Oklahoma, at the office of the Internal Revenue Service, 710 Locust St., Ste 400, Knoxville, TN 37902, on or before 3:30 p.m., thirty (30) business days from confirmation of the sale by the court.

In the event the successful bidder defaults on any of the terms contained herein, the deposit shall be forfeited and retained by the Internal Revenue Service as part of the proceeds of sale, and the real property shall again be offered for sale or sold to the second highest bidder.

The sale of the property shall be subject to confirmation by the court. Upon confirmation the Internal Revenue Service shall execute and deliver to the purchaser a quit claim deed conveying the property. Upon confirmation all interests in, liens against, or claims to the property that are held or asserted by all parties to this action are discharged and extinguished. Upon confirmation of the sale, the Register of Deeds of Kay County, Oklahoma, shall cause transfer of the property to be reflected upon that county’s register of title.

The sale is ordered in accordance with 28 U.S.C Section 2001 and is made without the right of redemption.

All persons occupying the property shall leave and vacate the property permanently no later than ten (10) business days after the confirmation of the sale, taking only personal property and leaving all improvements, buildings, fixtures and appurtenances to the property. If any person fails or refuses to vacate, the United States Marshal and his deputies are authorized and directed to take all actions necessary to bring about the ejectment of those persons.

The U.S. may bid as a creditor against its judgment without tender of cash up to the value of the outstanding balance on the mortgage.

The government reserves the right to reject any and all bids and to withdraw the property from sale.

The property is offered for sale “as is” and “where is” and without recourse against the United States. The United States makes no guarantee of condition of the property, or its fitness for any purpose. The United States will not consider any claim for allowance or adjustment or for the rescission of the sale based on failure of the property to comply with any expressed or implied representation.

The property is located at : 1004 E Central, Ponca City, Oklahoma, 74601.
If you are interested in purchasing this property, contact: Shirley Joyner, Property Appraisal & Liquidation Specialists, Internal Revenue Service, 710 Locust Street, Suite 400, Knoxville, TN, 37902.

I just wish I lived in Oklahoma now…