HISTORICAL COMMERCIAL BUILDING FOR AUCTION TEXAS LOCATION:

Property is being offered through Reserve Auction process.

Located in Historical Downtown Paris Texas in Lamar County. 90 miles northeast of Dallas, TX and minutes from Oklahoma. PROPERTY: This commercial building for Auction consists of approx. 6,000 sq. ft. of history for over 100 years. Downtown commercial building consists of two units with loft above. Unit 1 is currently being used as locally owned Boba tea shop and café. This unit was previously home to a small restaurant and still has a stainless / metal lined kitchen area in back with large operating vent a hood system that is currently not used. There are two bathrooms up front and a 3rd bathroom in the back along with a separate closet. This unit has a back door access to the loft and the vacant unit adjacent. Unit 2 is currently vacant but was previously utilized as a Barber Shop.  Some remodel on front half of building. There is an approx. 3,000 sq. ft. loft above both units with 2 separate stairwells. This area has updated electrical and plumbing, along with A/C. This unit has three nice big skylights installed. Floor is solid. Some amenities include bathroom fixtures such as shower, sink, and toilet. Also in this unit is the original 1916 wall mounted pull chain flush toilet. The loft has Downtown Square and fountain view in the front and courtyard view in the back. The loft area also has roof access point for the building.

Follow link below for more auction details:

https://altaterrarealty.hibid.com/auctions

TERMS AND CONDITIONS OF AUCTION

1. Seller(s) are serious about selling each property at this auction but reserve the right to accept or reject the final bid. Each bid shall constitute an offer to purchase, and the final bid, if accepted by the Seller(s), shall constitute a binding contract between the Seller(s) and Buyer(s). Conduction of the auction and increments of bidding are at the direction and discretion of United Country – AltaTerra Realty & Auction, LLC (“AltaTerra”) and/or the auctioneers. The successful bidder must enter into a purchase agreement the day of the auction immediately following the conclusion of bidding. The Seller(s) will have 72 hours to accept or reject the purchase agreement. Purchase is subject to a Seller’s 30 Day lease back from date of closing and funding. 2. Property is sold “AS IS – WHERE IS” and Buyer(s) should take time to examine this property thoroughly and rely on their own judgment. The only guarantee from the Seller(s) is a valid, good and marketable title to the property. The sale of the property is subject to any and all easements of record. The Seller(s), AltaTerra, the Auctioneers, nor their Associates are giving any warranties other than the Seller(s) Title Warranty. 3. Buyer(s) must conduct their own inspections at their own expense prior to bidding at the auction. AltaTerra, Auctioneers or its agents are not responsible for any representation made by Seller(s) or their employees and are not responsible for accidents on the sale property should any occur. 4. Buyer(s) and Seller(s) will enter into a standard format Contract for the Sale of Real Estate on the day of auction. A 5% Buyer's Premium will apply at this sale, and it will be added to the bid price to arrive at the contract purchase price. If Buyer is being represented by properly registered Broker, Seller will be responsible for paying 2% Buyer’s Broker Fee at time of closing and funding. The contract will call for a 10% down payment in the form of cash, cashier's check or personal/company check with valid photo ID with the balance of the purchase price due, in certified funds, on or before the closing date specified in the Contract. Contracts will contain no financing or inspection contingencies and the Buyer(s) must have their own financing and make their own inspections prior to bidding at this auction. Escrow payments will be made payable to Stone Title Company at 33 1 st NW Paris, TX 75460. Seller(s) will furnish title insurance in the amount of the selling price and deliver title by Warranty Deed. Any survey, if required, will be at Buyer(s) expense. Taxes will be pro-rated up to date of closing. Customary closing fees will apply to both Seller(s) and Buyer(s) transactions. 5. Announcements made by AltaTerra and/or their auctioneers during the time of the sale take precedence over any previously printed materials or any other oral statements made.