This property is in contracting
Sale Pending
Bank Owned

116 TOSCANO DRIVE

Smyrna, Delaware 19977

286 Views

Investment Opportunity

Est. Resale Value
$212,000
Auction Ended
12/20/2018
Online Auction - Under Contract
This property is in contracting.
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Property Details

Beds
3
Baths
2.5
Square Footage
1,508
Lot Size (Acres)
0.1
Property Type
Townhouse
Year Built
2015
Property ID
2678273
Event ID
O1218-69501
Occupancy
Occupied
Buyer's Premium
$0
Cash Only
Yes
Interior Access
No
Broker Co-op
Not offered

Due Diligence - Prepare to bid with this checklist

Before bidding, review these documents as a starting point. Learn how to perform due diligence.
Review Property Information
Third party reports on property condition and local market.
Examine Title and Liens
Preliminary reports are provided for reference. Seek a professional for a full evaluation.
Deed Type
Not Available
Title Insurance Paid by
Buyer
Read Purchase Agreement
Details of the Seller’s terms and conditions, and your rights as the buyer.
Prepare Your Finances
Acceptable forms of payment are cash, hard money loans, and lines of credit. Why?
You'll need proof of funds within 48 hours of winning the auction.
Conventional financing cannot be used to buy this property.

Top FAQs - How it works

Will I be able to inspect the property before I bid?
Typically, no. Many properties will be sold "as is, where is," with all faults and limitations. You'll need to estimate any renovation costs from a distance. Even if you believe the home is vacant, treat it as occupied. These homes have not transferred ownership yet and walking on or entering the property is trespassing.
Does Auction.com have any more information on this property?

Like other real estate transactions, you should conduct careful due diligence before purchasing a property at auction. Common research items include local market value, property condition, and title report.

Please note, Auction.com is not the seller for any property made available online, and all information and photos to Auction.com have been made available on this page.

Will the property be free and clear of all liens?
Not necessarily. You should seek independent advice to perform your own due diligence and fully understand the foreclosure process and foreclosure sales in general. It is your responsibility to do a title search and seek any professional counsel before bidding.
Can I use financing to buy this property?
Typically, no. Be sure to check the property listing to see if financing is considered. Most properties on Auction.com are sold cash-only. That means you must pay the entire purchase amount by the closing date.
What happens if I am the winning bidder?

If you are the highest bidder at the end of an auction, here are your post-auction obligations:

  1. Contract Information: You'll receive an email confirming you have the highest bid. You will then need to provide important contracting information by filling out a form online. You can preview the required information on this form as a printable checklist. Make sure to submit the form within 1 business day.
  2. Purchase Agreement: Once everything is verified, the Purchase Agreement will be generated and you will need to sign and return the document for the seller to review and sign.
  3. Proof of Funds: You need to provide Auction.com a copy of your Proof of Funds by email within 2 business days.
  4. Earnest Money Deposit: Unless otherwise specified on your purchase agreement, you will need to send the Earnest Money Deposit to the closing company within 2 business days of receiving the transfer instructions. Send Auction.com a copy of your confirmation receipt within 1 business day of sending funds.

Transaction Details

  • Property may be sold Subject to Seller Confirmation.  Seller must approve your auction bid before the sale can be finalized.
  • No Buyer's Broker/Agent Commission offered.
  • Buyer will not be charged a Buyer's Premium for this property.
  • If you are the Winning Bidder, an Earnest Money Deposit of 5% of the total purchase price or $2,500 (whichever is greater) is required.
  • Buyer may receive a Special Warranty Deed or equivalent if Buyer is able to purchase title insurance without delaying the closing (title fees typically cost between $500 and $1500 and are based on the purchase price of the property). If buyer does not purchase title insurance, buyer will receive a Quitclaim Deed or equivalent, with no express or implied warranties of title.
  • Buyer is responsible for all escrow fees typically ranging from $850 to $1,375.
  • This property is reported to be occupied and buyer is responsible for obtaining possession. 
  • Any delinquent HOA/COA assessments shall be paid in accordance with the applicable Purchase Sale Agreement.
  • Property is being offered as is, where is.
  • This property is being offered exclusively through Auction.com before it will be available to the broader market. Please be aware that in rare instances, issues arise that may require the seller to cancel the transaction due to this early availability.   
  • Until the seller's reserve price is met, Auction.com may counter bid on behalf of the seller. Counter bidding gives buyers and sellers more flexibility to find a mutually agreeable price. Counter bids do not occur after the seller's reserve price is met. Learn more about reserve pricing.

Auctioneer Licensing Information

Auction.com, LLC Arlene Richardson RE BRKR Lic No RB-0020326 Irvine, CA 800-499-6199