LENDER ORDERED AUCTION MOTEL – RESTAURANT – LAUNDROMAT Silver City, MI
Details
Inspections
Saturday, November 20 • 12 PM – 4 PM
Friday, December 3 • 12 PM – 4 PM
Saturday, December 4 • 9 AM – 11 AM
Other times by Appointment.
Bid Deadline
Saturday, December 4 11:00 am
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Location
Details
Rainbow Lodging
Motel – Restaurant – Laundromat
Selling as an Operating Unit
Located on Hwy M-64
100' of Lake Superior Frontage
Property consists of:
12.8 Acres of Land
Lake Frontage with Sandy Beach
8-Unit 2670 Sq. Ft. Motel Building – All 8 units offer different amenities with variations on room layouts and kitchenettes.
4-Unit 960 Sq. Ft. Motel Building – Each unit having a double bed, bath, TV, air conditioning unit, and microwave.
2-Story “Country House” Cabin/Chalet – First floor is 832 Sq. Ft. with one bedroom and bath with Jacuzzi tub. Second Floor is 306 Sq. Ft. with 1 enclosed bedroom and one loft bedroom.
2-Story Cabin/Chalet – First floor is 720 Sq. Ft. with one bedroom and 2 baths. Second Floor is 150 Sq. Ft. with loft area and beds.
Residence/Office – 1232 Sq. Ft. living space with three bedrooms and one full bath. 810 Sq. Ft. office space.
Former Restaurant with Equipment
1080 Sq. Ft. Steel Storage Building
10% Buyer Premium; non-refundable $15,000 Certified Deposit due on day of sale with a secondary non-refundable deposit within 48 hours of the sale bringing the total deposit amount to 10% of the total purchase price. Final payment is due at closing within 30 days.
Buyers will be asked to show certified funds prior to receiving a bidder’s number. Selling subject to owner confirmation. See Bidder Kit for complete terms. Attorney Stephen Tinti, 906-875-7451, is coordinating the closing.
In all transactions, auctioneer is acting as an Agent for the Seller. All information received from reliable sources believed to be correct but not guaranteed by auction company. Everything is selling AS-IS, WHERE IS WITH NO WARRANTIES OR GUARANTIES EXPRESSED OR IMPLIED. Any announcement made at the auction takes precedence over any material published about this event. Buyers are urged to inspect assets prior to purchase. Seller and Auctioneer are not responsible for items. In the event of a dispute, Auctioneer has the final decision. Subject to prior sale. Valid Government ID required to obtain a bidding number.
Re: LENDER ORDERED AUCTION MOTEL – RESTAURANT – LAUNDROMAT Silver City, MI
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.
