Name Commercial Real Estate S. 7th St Reading
Auctioneer The Renaissance Auction Group
Type Live Webcast Auction
Date(s) 7/13/2018 - 7/27/2018
Friday July 27th 6PM
Preview Date/Time Saturday July 21st 10AM-Noon Sunday July 22nd 1PM-3PM
Location 640 & 658 S. 7th St
Reading, PA 19602
Buyer Premium A Buyer's Premium will be added to this bid if it is successful.
Description
Two commercial buildings in Reading, PA, offered separately 640 S. 7th St - Open workspace layout w/ drive-in bay door; upstairs open workspace layout w/ one office area, bathrooms, commercial electrical, mechanicals and plumbing, zoned commercial / light manufacturing 658 S. 7th St - Two open workspaces downstairs; nine office complex upstairs. Zoned commercial / light manufacturing, bathrooms, commercial electrical, mechanicals and plumbing, zoned commercial / light manufacturing Live and online bidding
Auction Terms & Conditions General Terms & Conditions For All Properties: Buyer's Premium: There is a 10% Buyer's Premium in effect for this auction. Debit Card Warning We require bidders to secure their accounts with a credit or debit card. Some of our auctions further require a deposit. If you use a credit card to secure your account, the auction deposit will take the form of a credit card authorization and will count against your credit limit for the duration of the authorization (up to 10 business days). If you use a debit card to secure your account, the auction deposit will take the form of a hold on funds in your bank account for the duration of the authorization. The Renaissance Auction Group highly recommends you secure your account with a credit card and is not responsible for any issues arising from the use of a debit card to secure your bidding account. Add a debit card at your own risk. Bid Deposit / Authorization A $50.00 credit card authorization will be processed when submitting your first bid at this auction. This authorization is not actually charged to your card. If you are the winning bidder any payment you make for your purchases will be a completely separate transaction. If you are not the high bidder, there will be no charges against your account. Agreement of Purchase and Sale Immediately following the close of the bidding, the high bidder will be required to enter into a Purchase and Sale Agreement. I acknowledge that the terms and conditions of the auction are published under "Terms & Conditions" in the internet auction catalog I have read the Terms and Conditions or will read the Terms and Conditions prior to the sale of the real estate I am prepared, upon being declared the high bidder, to place a Three Thousand Dollars ($3,000.00) deposit down on the purchase price in certified funds, the purchase price being the high bid plus a 10% Buyer's Premium. I understand that settlement for the property offered at auction today must occur on or before September 10, 2018 as stated in the "CONDITIONS OF SALE OF REAL ESTATE AT PUBLIC AUCTION 640 & 658 S. 7TH ST READING, PA 19602" I acknowledge that a representative of The Renaissance Auction Group is present and available to answer questions prior to the sale of the real estate described in "CONDITIONS OF SALE OF REAL ESTATE AT PUBLIC AUCTION 640 & 658 S. 7TH ST READING, PA 19602" Upon being declared the high bidder with owner confirmation, I affirm that I will accept, abide by and act in accordance with the "CONDITIONS OF SALE OF REAL ESTATE AT PUBLIC AUCTION 640 & 658 S. 7TH ST READING, PA 19602". I understand that any failure upon my part to do so may result in my being held liable for any and all losses incurred by the Seller and the Seller's Agents as a result of my failure to act in accordance with the aforementioned Terms & Conditions Specific Terms & Conditions For 640 S. 7th St Reading, PA 10602 The Conditions Of Sale At Public Auction, On This The 27thth Day Of July, 2018 Of The Real Estate Known As 640 S. 7th St, Reading, PA, County Of Berks and Commonwealth of Pennsylvania Are As Follows: The Highest And Best Bidder Shall Be Declared The Purchaser. If Any Dispute Shall Arise Between Two Or More Bidders, The Property Shall Be Immediately Placed Again Upon The Block. No Person Shall Retract His Or Her Bid; However, The Owner Shall Have The Right To Accept Or Reject Any Or All Bids. The Property Is Offered For Sale Free, Clear And Discharged Of All Liens And Encumbrances Except Any Zoning Or Other Governmental Regulations Affecting The Property, Building Rights Of Public Service Companies, If Any; Easements, Agreements Or Like Matters Of Record Or Easements Or Restrictions Visible Upon The Ground; Otherwise Title To The Property Shall Be Insurable By A Reputable Title Insurance Company At The Regular Rates. Real Property Taxes And Other Current Charges, i.e., Rents, Water And Sewer Rents, Utilities And Alienable Municipal Services, If Any, Shall Be Apportioned Pro Rata As Of The Date Of Settlement. The Purchaser Shall Pay Down To The Seller's Agents At The Time The Property Is Struck Off Three Thousand Dollars ($3,000.00) In Cash, Certified Funds Or Personal Check Accompanied By A Bank Letter Of Guaranteed Funds Securing Three Thousand Dollars ($3,000.00) In The Purchaser's Account For A Minimum Of Seven Business Days After The Date Of The Auction For The Sole Purpose Of Satisfying The Aforementioned Deposit. The Balance Of The Sale Price, That Sale Price Being The High Bid Plus A 10% Purchaser's Premium, Shall Be Paid In Cash Or Certified Check On The Day Of Settlement Which Shall Be No Later Than Monday, September 10, 2018. Title Services Shall Be The Responsibility Of The Purchaser And Shall Be Provided By Stewart Abstract Of Berks County Inc. Settlement Shall Take Place At The Office Of Stewart Abstract Of Berks County Inc., 1100 Berkshire Blvd Reading, Pa 19610. William D. Howze Will Be Notified By The Purchaser In Writing Prior To Any Settlement, And No Settlement Shall Occur Without A Representative Of William D. Howze, Auctioneer, Present Unless A Waiver To This Stipulation Has Been Obtained In Writing By The Purchaser Prior To The Date Of Settlement. All Realty Transfer Taxes Shall Be Paid By The Purchaser And Any Other Real Estate Taxes Shall Be Apportioned For The Current Term. Delinquent Taxes, If Any, Shall Be Paid By The Seller On Or Before Settlement Date. Purchaser Shall Be Responsible For Purchaser's Normal Settlement Costs. The Drawing Of The Deed As Well As Such Preparation Of Abstract Of Title As May Be Required Shall Be At The Expense Of The Purchaser. Purchaser Shall Be Entitled To Possession Of The Premises Upon Payment Of The Purchase Money In Full And Delivery Of The Deed On Day Of Settlement. Seller Makes No Representations As To The Specific Locations Of The Boundary Lines. Any Survey Or Surveys Desired By The Purchaser, Or Its Mortgagee, Shall Be Secured And Paid For By The Purchaser. Purchaser Acknowledges That The Premises Have Been Inspected By Purchaser, That The Premises Are Being Purchased "As Is" As A Result Of Such Inspection And Not As A Result Of Any Representations Made By The Seller Or Seller's Agents And That The Seller And The Seller's Agents Shall Not Be Liable Or Responsible For Any Agreement, Condition Or Stipulation Relating To Or Affecting The Physical Condition Or The Use Of The Premises And Equipment Or Any Physical Defect In The Property Not Specifically Set Forth In This Agreement. Purchaser Shall Be Responsible For The Costs Of Any Pre-Settlement Inspections Required By Governing Entities And Any Demands Resulting Thereof. The Property Will Be Maintained By Seller In Its Present 'As Is' Condition Until Settlement, Normal Wear And Tear Accepted. Items May Remain On The Premises As Of The Date Of Closing And If So, Such Items Shall Become The Property And Responsibility Of The Purchaser. Title To The Premises Shall Be Conveyed Free And Clear Of Liens And Encumbrances As Provided. If The Title As Provided For In These Conditions Cannot Be Conveyed, The Purchaser Shall Have The Option Of Taking Such Title As Seller Can Give Without Abatement Of Price Or Of Being Repaid All Monies Paid On Account Of Purchaser To Seller And This Sale Will Be Deemed Null And Void And Of No Effect. It Is Understood That The Purchaser Has Inspected The Property, Or Hereby Waives The Right To Do So And Has Agreed To Purchase It As The Result Of Such Inspection And Not Because Of Or In Reliance Upon Any Representation Made By The Seller Or Any Other Officer, Partner Or Employee Of Seller, Or By The Auctioneer Or Any Of His Agents Or Employees And That The Purchaser Has Agreed To Purchase It In Its Present Condition Unless Otherwise Specified Herein. It Is Further Understood That This Agreement Contains The Whole Agreement Between The Seller And The Purchaser And There Are No Other Terms, Obligations, Covenants, Representations, Statements Or Conditions, Oral Or Otherwise Of Any Kind Whatsoever Concerning This Sale. Furthermore, This Agreement Shall Not Be Altered, Amended, Changed Or Modified Except In Writing Agreed Upon And Executed By The Parties Hereto. The Property Is Serviced By Municipal Water & Sewer. The Property Zoning Is Not Specified In This Document. The Seller Has No Knowledge Of Water Contamination The Seller Has No Knowledge Of The Presence Of Radon. The Seller Has No Knowledge Of Hazardous Waste. The Heating System Is Oil Fired Hot Water. The Seller Has No Knowledge Of Lead Based Paint. The Seller Has No Records Relating To The Presence of Lead Based Paint. Purchaser Agrees To Waive The Opportunity To Conduct A Risk Assessment Or Inspection For The Presence Of Lead-Based Paint And/Or Lead Based Paint Hazards The Seller Has No Knowledge Of The Presence Of Termites. This Agreement Shall Be Considered Under And In Accordance With The Laws Of The Commonwealth Of Pennsylvania Upon Failure By The Purchaser, For Any Cause, To Comply With The Above Conditions, All Deposit Money And Other Sums Paid By The Purchaser On Account Of The Purchase Price, May Be (1) Retained By The Seller And Seller's Agents On Account Of The Purchase, Or (2) As Monies To Be Applied To The Seller's And Seller's Agents Damages, Or (3) As Liquidated Damages For Such Breach, As The Seller And Seller's Agents May Elect, And In The Event That The Seller And Seller's Agents Elect To Retain The Moneys As Liquidated Damages The Seller And The Seller's Agents Shall Be Released From All Liability Or Obligations And This Sale Shall Be Null And Void. The Seller Shall Have The Full Liberty With Or Without Notice, To Resell The Premises Any Time Without The Benefit To Purchaser From Its Sale. This Sale Is Not Subject To Any Contingencies Including But Not Limited To Financing Being Obtained By The Purchaser. Having Been Declared The High Bidder At Today's Auction, I Agree To Abide By And Act In Accordance With The "Conditions Of Sale Of Real Estate At Public Auction 640 S. 7th St., Reading, PA 19602". I Understand That Any Failure Upon My Part To Do So May Result In My Being Liable For Damages Including But Not Limited To Loss Of Agents' Commission, Expenses Incurred By Seller And Sellers' Agents In Producing This Auction, Any Shortfall In Sale Price From A Subsequent Sale Of This Property, Holding Costs Incurred By The Sellers Prior To Any Subsequent Sale Of The Property And Any Attorney's Fees Necessary To Collect The Aforementioned Costs, Loss, Expenses Or Damages This Agreement Shall Not Be Recorded In The Office Of Recorder Of Deeds, Or In Any Office Or Place Of Public Record And If Purchaser Shall Record This Agreement Or Cause Or Permit The Same To Be Recorded, Seller May, At His Option, Elect To Treat Such Act As A Breach Of This Agreement. In Case Any One Or More Of The Provisions Contained In This Agreement Shall For Any Reason Be Held Invalid, Illegal, Or Unenforceable In Any Respect, Such Invalidity, Or Unenforceability, Shall Not Affect Any Other Provision Hereof, And This Agreement Shall Be Construed As If Such Invalid, Illegal, Or Unenforceable Provision Had Never Been Contained Herein. This Agreement Will Be Exclusively Construed And Governed In Accordance With The Laws Of The Commonwealth Of Pennsylvania Without Regard To Its Conflict Of Laws Principles. The Exclusive Jurisdiction And Venue For Any Controversy Or Claim Between The Parties Will Be The County Of Berks In The Commonwealth Of Pennsylvania It Is Expressly Understood And Agreed Between The Parties Hereto That The Renaissance Auction Group, William D. Howze, Auctioneer, Or Any Of Their Agents Or Employees, Are Acting As Agents Only And Will In No Case Whatsoever, Be Held Liable Either Jointly Or Severally To Either Party For The Performance Of Any Term Or Covenant Of This Agreement Or For Damages For The Nonperformance Thereof. This Agreement Shall Be Binding On The Respective Heirs, Executors, Administrators, Successors, And To The Extent Assignable, On The Assigns Or Nominees Of The Parties Hereto, Provided Purchaser Shall Not Transfer Or Assign This Agreement Without First Having Obtained The Express Written Consent Of Seller. Upon Receipt Of Express Written Consent Of Seller And Upon Delivery To Seller Of An Instrument In Writing Whereby The Assignee Of The Purchaser Assumes All Of The Provisions Of This Agreement To Be Performed By Purchaser, Then In That Event, Purchaser Shall Be Released And Discharged Of All Further Liability Hereunder. Specific Terms & Conditions For 658 S. 7th St Reading, PA 10602 The Conditions Of Sale At Public Auction, On This The 27thth Day Of July, 2018 Of The Real Estate Known As 658 S. 7th St, Reading, PA, County Of Berks and Commonwealth of Pennsylvania Are As Follows: The Highest And Best Bidder Shall Be Declared The Purchaser. If Any Dispute Shall Arise Between Two Or More Bidders, The Property Shall Be Immediately Placed Again Upon The Block. No Person Shall Retract His Or Her Bid; However, The Owner Shall Have The Right To Accept Or Reject Any Or All Bids. The Property Is Offered For Sale Free, Clear And Discharged Of All Liens And Encumbrances Except Any Zoning Or Other Governmental Regulations Affecting The Property, Building Rights Of Public Service Companies, If Any; Easements, Agreements Or Like Matters Of Record Or Easements Or Restrictions Visible Upon The Ground; Otherwise Title To The Property Shall Be Insurable By A Reputable Title Insurance Company At The Regular Rates. Real Property Taxes And Other Current Charges, i.e., Rents, Water And Sewer Rents, Utilities And Alienable Municipal Services, If Any, Shall Be Apportioned Pro Rata As Of The Date Of Settlement. The Purchaser Shall Pay Down To The Seller's Agents At The Time The Property Is Struck Off Three Thousand Dollars ($3,000.00) In Cash, Certified Funds Or Personal Check Accompanied By A Bank Letter Of Guaranteed Funds Securing Three Thousand Dollars ($3,000.00) In The Purchaser's Account For A Minimum Of Seven Business Days After The Date Of The Auction For The Sole Purpose Of Satisfying The Aforementioned Deposit. The Balance Of The Sale Price, That Sale Price Being The High Bid Plus A 10% Purchaser's Premium, Shall Be Paid In Cash Or Certified Check On The Day Of Settlement Which Shall Be No Later Than Monday, September 10, 2018. Title Services Shall Be The Responsibility Of The Purchaser And Shall Be Provided By Stewart Abstract Of Berks County Inc. Settlement Shall Take Place At The Office Of Stewart Abstract Of Berks County Inc., 1100 Berkshire Blvd Reading, Pa 19610. William D. Howze Will Be Notified By The Purchaser In Writing Prior To Any Settlement, And No Settlement Shall Occur Without A Representative Of William D. Howze, Auctioneer, Present Unless A Waiver To This Stipulation Has Been Obtained In Writing By The Purchaser Prior To The Date Of Settlement. All Realty Transfer Taxes Shall Be Paid By The Purchaser And Any Other Real Estate Taxes Shall Be Apportioned For The Current Term. Delinquent Taxes, If Any, Shall Be Paid By The Seller On Or Before Settlement Date. Purchaser Shall Be Responsible For Purchaser's Normal Settlement Costs. The Drawing Of The Deed As Well As Such Preparation Of Abstract Of Title As May Be Required Shall Be At The Expense Of The Purchaser. Purchaser Shall Be Entitled To Possession Of The Premises Upon Payment Of The Purchase Money In Full And Delivery Of The Deed On Day Of Settlement. Seller Makes No Representations As To The Specific Locations Of The Boundary Lines. Any Survey Or Surveys Desired By The Purchaser, Or Its Mortgagee, Shall Be Secured And Paid For By The Purchaser. Purchaser Acknowledges That The Premises Have Been Inspected By Purchaser, That The Premises Are Being Purchased "As Is" As A Result Of Such Inspection And Not As A Result Of Any Representations Made By The Seller Or Seller's Agents And That The Seller And The Seller's Agents Shall Not Be Liable Or Responsible For Any Agreement, Condition Or Stipulation Relating To Or Affecting The Physical Condition Or The Use Of The Premises And Equipment Or Any Physical Defect In The Property Not Specifically Set Forth In This Agreement. Purchaser Shall Be Responsible For The Costs Of Any Pre-Settlement Inspections Required By Governing Entities And Any Demands Resulting Thereof. The Property Will Be Maintained By Seller In Its Present 'As Is' Condition Until Settlement, Normal Wear And Tear Accepted. Items May Remain On The Premises As Of The Date Of Closing And If So, Such Items Shall Become The Property And Responsibility Of The Purchaser. Title To The Premises Shall Be Conveyed Free And Clear Of Liens And Encumbrances As Provided. If The Title As Provided For In These Conditions Cannot Be Conveyed, The Purchaser Shall Have The Option Of Taking Such Title As Seller Can Give Without Abatement Of Price Or Of Being Repaid All Monies Paid On Account Of Purchaser To Seller And This Sale Will Be Deemed Null And Void And Of No Effect. It Is Understood That The Purchaser Has Inspected The Property, Or Hereby Waives The Right To Do So And Has Agreed To Purchase It As The Result Of Such Inspection And Not Because Of Or In Reliance Upon Any Representation Made By The Seller Or Any Other Officer, Partner Or Employee Of Seller, Or By The Auctioneer Or Any Of His Agents Or Employees And That The Purchaser Has Agreed To Purchase It In Its Present Condition Unless Otherwise Specified Herein. It Is Further Understood That This Agreement Contains The Whole Agreement Between The Seller And The Purchaser And There Are No Other Terms, Obligations, Covenants, Representations, Statements Or Conditions, Oral Or Otherwise Of Any Kind Whatsoever Concerning This Sale. Furthermore, This Agreement Shall Not Be Altered, Amended, Changed Or Modified Except In Writing Agreed Upon And Executed By The Parties Hereto. The Property Is Serviced By Municipal Water & Sewer. The Property Zoning Is Not Specified In This Document. The Seller Has No Knowledge Of Water Contamination The Seller Has No Knowledge Of The Presence Of Radon. The Seller Has No Knowledge Of Hazardous Waste. The Heating System Is Oil Fired Hot Water. The Seller Has No Knowledge Of Lead Based Paint. The Seller Has No Records Relating To The Presence of Lead Based Paint. Purchaser Agrees To Waive The Opportunity To Conduct A Risk Assessment Or Inspection For The Presence Of Lead-Based Paint And/Or Lead Based Paint Hazards The Seller Has No Knowledge Of The Presence Of Termites. This Agreement Shall Be Considered Under And In Accordance With The Laws Of The Commonwealth Of Pennsylvania Upon Failure By The Purchaser, For Any Cause, To Comply With The Above Conditions, All Deposit Money And Other Sums Paid By The Purchaser On Account Of The Purchase Price, May Be (1) Retained By The Seller And Seller's Agents On Account Of The Purchase, Or (2) As Monies To Be Applied To The Seller's And Seller's Agents Damages, Or (3) As Liquidated Damages For Such Breach, As The Seller And Seller's Agents May Elect, And In The Event That The Seller And Seller's Agents Elect To Retain The Moneys As Liquidated Damages The Seller And The Seller's Agents Shall Be Released From All Liability Or Obligations And This Sale Shall Be Null And Void. The Seller Shall Have The Full Liberty With Or Without Notice, To Resell The Premises Any Time Without The Benefit To Purchaser From Its Sale. This Sale Is Not Subject To Any Contingencies Including But Not Limited To Financing Being Obtained By The Purchaser. Having Been Declared The High Bidder At Today's Auction, I Agree To Abide By And Act In Accordance With The "Conditions Of Sale Of Real Estate At Public Auction 658 S. 7th St., Reading, PA 19602". I Understand That Any Failure Upon My Part To Do So May Result In My Being Liable For Damages Including But Not Limited To Loss Of Agents' Commission, Expenses Incurred By Seller And Sellers' Agents In Producing This Auction, Any Shortfall In Sale Price From A Subsequent Sale Of This Property, Holding Costs Incurred By The Sellers Prior To Any Subsequent Sale Of The Property And Any Attorney's Fees Necessary To Collect The Aforementioned Costs, Loss, Expenses Or Damages This Agreement Shall Not Be Recorded In The Office Of Recorder Of Deeds, Or In Any Office Or Place Of Public Record And If Purchaser Shall Record This Agreement Or Cause Or Permit The Same To Be Recorded, Seller May, At His Option, Elect To Treat Such Act As A Breach Of This Agreement. In Case Any One Or More Of The Provisions Contained In This Agreement Shall For Any Reason Be Held Invalid, Illegal, Or Unenforceable In Any Respect, Such Invalidity, Or Unenforceability, Shall Not Affect Any Other Provision Hereof, And This Agreement Shall Be Construed As If Such Invalid, Illegal, Or Unenforceable Provision Had Never Been Contained Herein. This Agreement Will Be Exclusively Construed And Governed In Accordance With The Laws Of The Commonwealth Of Pennsylvania Without Regard To Its Conflict Of Laws Principles. The Exclusive Jurisdiction And Venue For Any Controversy Or Claim Between The Parties Will Be The County Of Berks In The Commonwealth Of Pennsylvania It Is Expressly Understood And Agreed Between The Parties Hereto That The Renaissance Auction Group, William D. Howze, Auctioneer, Or Any Of Their Agents Or Employees, Are Acting As Agents Only And Will In No Case Whatsoever, Be Held Liable Either Jointly Or Severally To Either Party For The Performance Of Any Term Or Covenant Of This Agreement Or For Damages For The Nonperformance Thereof. This Agreement Shall Be Binding On The Respective Heirs, Executors, Administrators, Successors, And To The Extent Assignable, On The Assigns Or Nominees Of The Parties Hereto, Provided Purchaser Shall Not Transfer Or Assign This Agreement Without First Having Obtained The Express Written Consent Of Seller. Upon Receipt Of Express Written Consent Of Seller And Upon Delivery To Seller Of An Instrument In Writing Whereby The Assignee Of The Purchaser Assumes All Of The Provisions Of This Agreement To Be Performed By Purchaser, Then In That Event, Purchaser Shall Be Released And Discharged Of All Further Liability Hereunder. --------------------------------------------- ------------------------------------------ Terms Of Use

Seller User Terms

Bidder User Terms
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 19,500.00 500.00 USD
19,500.01 - 29,750.00 250.00 USD
29,750.01 - 9,999,999.99 100.00 USD
Currency USD
Payment Terms
General Terms & Conditions For All Properties: Buyer's Premium: There is a 10% Buyer's Premium in effect for this auction. Debit Card Warning We require bidders to secure their accounts with a credit or debit card. Some of our auctions further require a deposit. If you use a credit card to secure your account, the auction deposit will take the form of a credit card authorization and will count against your credit limit for the duration of the authorization (up to 10 business days). If you use a debit card to secure your account, the auction deposit will take the form of a hold on funds in your bank account for the duration of the authorization. The Renaissance Auction Group highly recommends you secure your account with a credit card and is not responsible for any issues arising from the use of a debit card to secure your bidding account. Add a debit card at your own risk. Bid Deposit / Authorization A $50.00 credit card authorization will be processed when submitting your first bid at this auction. This authorization is not actually charged to your card. If you are the winning bidder any payment you make for your purchases will be a completely separate transaction. If you are not the high bidder, there will be no charges against your account. Auction Ending Beginning at the stated closing time, the auction software will conclude bidding for 1 lot every 10 minutes in catalog order with the following exception: if a bid is placed in the last 5 minutes remaining for that auction lot, bidding for that lot will remain open for an additional 5 minutes. Agreement of Purchase and Sale Immediately following the close of the bidding, the high bidder will be required to enter into a Purchase and Sale Agreement.