Another residential lot is up for auction in the Avalon subdivision of Cool Springs in Franklin, TN this Saturday, August 7.
This Cool Springs auction of the week is at 504 Excalibur Court, Franklin, TN 37067 and owned by real estate agent Tanya Servidio and her husband Ronald Servidio. Tanya Servidio is a Realtor with 1st Realty Center, LLC, an eight person residential real estate company located off Franklin Rd in Brentwood.
Ready for the history on 504 Excalibur Court?
Are you sitting down?
The lot at 504 Excalibur Court has been listed for sale a total of 1,148 days (3.14 years) anywhere between $215k – $350k.
1/2/07 Listed for $350k (152 days on market)
8/23/07 Listed for $375k – $250k (590 days on market)
6/8/09 Listed for $244k – $215k (406 days on market)
Researching comps on other neighboring Excalibur Court properties doesn’t seem to help.
Just a couple doors over, 512 Excalibur Court was on the market for $299k and listed in the MLS for the the past 437 days before selling for just $125k, three weeks ago on July 12, 2010.
Terms of this auction Bob Parks has announced include 10% down day of sale and balance due in 30 days. Williamson County taxes are prorated and possession is with deed. Also, all announcements made dale of sale take precedence over previous advertising.
Most importantly, this auction is not being advertised as an absolute auction. An absolute auction typically attracts the largest number of bidders, since the property will be sold to the highest bidder regardless of price. Make sure to ask the auctioneer if there is a reserve price set that must be reached in order for the property to be successfully sold. Many times sellers will set a reserve price to ensure the real estate at auction does not sell for less than they will accept.
Again we respectfully request that Bob Parks Auction Co. provide misting wands, fresh lemonade and snacks (preferably something light) for the big auction this weekend.
CoolSprings.com will see you there!