LENDER ORDERED AUCTION Best Western Inn of Petoskey Petoskey, MI

Details

Thursday, June 4 11:00 am
Petoskey, MI

Inspections

Monday, May 11, 12:00 PM – 4:00 PM
Tuesday, May 12, 12:00 PM – 4:00 PM
Wednesday, June 3, 12:00 PM – 4:00 PM
Thursday, June 4, 9:00 AM – 11:00 AM
Other times by Appointment.

Bid Deadline

Thursday, June 4 11:00 am

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Location

Details

Beautifully Maintained Property!
US 131/Spring & Sheridan Street Frontage
85 Rooms in 2 Buildings
37,215 Sq. Ft. on 1.79± acres
23,136 Sq. Ft. North Building – 63 Rooms
with $800,000 upgrades since ‘04
14,079 Sq. Ft. South Building – 22 Rooms
10 King Hot tub Suites
10 Queen Doubles with Spa tubs
2 Business Suites with Spa tubs
2 Family 2-Room Units
13 Queen Singles
15 Double/Double • 22 Queen/Queen
Newer High Energy Efficient Boiler
Electrical & Plumbing Upgrades
95 Car Parking Lot
Zoned B-3a Resort Commercial District
Indoor Pool, Whirlpool, Sauna,
Guest Exercise Room & Game Room
Continental Breakfast Room • Wireless Internet

Located in Resort Community on Lake Michigan Bay Inlet
Currently Operating!
Excellent Opportunity for New Owner!

Auction will be held On-Site

$100,000 Certified Deposit due on day of sale, with a deposit equal to 10% due within 2 business days, and balance due within 30 days.
 

7% Buyer Premium. Selling Subject to Owner Confirmation. Attorney David Hipp, Bodman LLP, 248-743-6000, is coordinating the closing.

Real Estate is selling AS-IS, WHERE-IS WITH NO WARRANTIES OR GUARANTEES, EXPRESS OR IMPLIED. See Bidder Kit for Complete Terms. All information received from reliable sources believed to be correct but not guaranteed by auction company. Any announcement made at the auction will take precedence over any material published about this event. In all transactions, Auctioneer is acting as an agent for the Seller. Valid Government Issued Photo ID required to obtain bidding number.

BROKER PARTICIPATION: Broker Participation is welcome, but not required. A 1% Commission will be paid to the licensed Michigan broker who registers the bidder who pays for and settles for the real estate. A broker buying on his/her behalf, or on behalf of any business entity in which he/she holds an interest, is not entitled to a commission.

Re: LENDER ORDERED AUCTION Best Western Inn of Petoskey Petoskey, MI

Thursday, June 4 11:00 am
Petoskey, MI
Thursday, June 4 11:00 am
To Whom It May Concern: Pursuant to your request, please sign and date this release to receive documents relating to the above noted property. The Seller did not prepare these documents and has no knowledge of their accuracy or completeness. None of the documents shall constitute a representation or warranty of any kind by Seller as to the accuracy or completeness of any information delivered. Accordingly, Seller expressly disclaims any responsibility therefor, including any consequences of any reliance by anyone on them. Please note that the documents and the information contained therein are confidential, and by acknowledging receipt, you agree to keep such information confidential and that you shall not, without the prior written consent of Seller, share any of the documents with anyone other than Potential Buyer and representatives of Potential Buyer who need such information for the purpose of evaluating the premises and who are informed of the confidential nature of the information and also agree to be bound by the terms of this confidentiality provision. By this acknowledgement, you further agree that you will return to me the originals and any copies of the materials forthwith upon demand if the contemplated transaction is not consummated. Please do not hesitate to contact our office with any questions you may have.