Inland Real Estate Auctions to Auction Model Home and 14 Home Sites in Oakland County, Michigan

. April 2, 2007

Inland Real Estate Auctions, Inc. announced today that it will be auctioning 14 one-acre home sites and a brand-new, luxurious model home located in Oak Ridge development in Oakland County, Mich. At least five of the home sites, originally priced as high as $95,000, will be auctioned without reserve and sold regardless of price. The model home, originally priced at $479,900, will sold subject to a minimum bid of $295,000.

“This is one of the finest subdivisions we have been involved with in the greater Detroit marketplace,” said Paul Rogers Senior Vice, president of Inland Real Estate Auctions. “There is a surplus of available inventory on the market, and developers are finding the auction process is the answer for accelerating sales and gaining a competitive marketing advantage.”

Inland Real Estate Auctions will coordinate third party financing with Fifth Third Bank as the approved lender for the auction, offering buyers a convenient, streamlined process not only to acquire the property in one day but also to swiftly obtain financing. The lender will also be offering a number of incentive programs, including construction loans, lot loans and permanent end loan financing for the model home.

Fourteen remaining sites in the development, located off Davisburg Road near Holly, Mi., will be auctioned in all, along with the model home. The model features Brazilian cherry wood floors and cabinets, a three-car garage, sun room, granite kitchen, and a stone fireplace. It sits on a fully landscaped lot with a built-in irrigation system. The model is being sold with the builder’s warranty. The one-acre home sites feature walk-out elevations and views of a pond and heavily wooded, rolling hills. The development provides over 20 acres of greenway and ponds.

“This auction presents a rare opportunity for buyers, empty-nesters, and investors to purchase, at their own price, one or more of these sites,” said Rogers, “and this auction, along with the financing options, offers a great opportunity for anyone looking to get a great home site or model home at a tremendous value.”

Representatives of Inland Real Estate Auctions, Inc. and Fifth Third Bank will be present at all open houses, which will be scheduled soon. Full auction information, property information and terms of sale are available by phone at (248) 593-8790. The auction will take place in May.

One of the nation’s top auctions firms, conducting transactions in Illinois, Michigan, Florida and California, Inland Real Estate Auctions is part of The Inland Real Estate Group of Companies, Inc. (www.inlandgroup.com), which comprises independent real estate investment and financial companies doing business nationwide. Inland is one of the nation’s largest commercial real estate companies. Inland’s national headquarters is in Oak Brook, Ill.

Category: Auction News

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