A unique opportunity has emerged for homebuyers in Portland’s Kenton neighborhood as a court-ordered auction is set to take place to resolve an ownership dispute. Realty Marketing/Northwest, a renowned real estate marketing and brokerage company, is organizing the auction, which will see a 5,000-square-foot midcentury house go under the hammer.
Unlike traditional auctions, this court-ordered auction is aimed at ensuring transparency in the sale process. The property will be sold at or above the reserve price, providing a fair resolution to the ownership dispute. Interested bidders have until December 5th to submit a sealed bid, with the minimum bid set at $527,500.
What sets this auction apart is the absence of online bidding or incentives for early bidders. Potential buyers are required to provide their best and final bid, without the option of increasing their offer if a higher bid is received. This approach ensures a level playing field for all participants.
The property at 3526 N. Farragut St. offers a 1952 brick house with 2,403 square feet of living space. Additional features include a detached garage, covered patio, and a self-contained apartment in the finished basement. The sale is “as is,” meaning no repairs or improvements will be made before the transaction is completed.
With nearby amenities such as the University of Portland, Peninsula Elementary School, and Ockley Green Middle School, the house presents an appealing opportunity for renovation. Additionally, Columbia Park and the North Interstate and North Lombard MAX Station are conveniently located nearby, providing easy access to recreational facilities and transportation.
Interested parties are advised to consult Realty Marketing/Northwest for detailed bidding procedures and requirements. This unique home auction not only provides a resolution to a long-standing ownership conflict but also opens up an exciting opportunity for buyers to acquire a property with significant potential.
Q: What is the purpose of the court-ordered auction?
A: The court-ordered auction is being conducted to resolve an ownership dispute over the property.
Q: Can I participate in the auction online?
A: No, online bidding is not available for this auction. Bidders are required to submit sealed bids.
Q: Is there a minimum bid for the property?
A: Yes, the minimum bid for the 5,000-square-foot house is $527,500.
Q: Can I make repairs or improvements to the property before purchase?
A: No, the property is being sold “as is,” meaning no repairs or improvements will be made before the transaction is completed.
Q: What amenities and facilities are located near the property?
A: The property is located near the University of Portland, Peninsula Elementary School, Ockley Green Middle School, Columbia Park, and the North Interstate and North Lombard MAX Station.