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- REAL ESTATE AUCTION
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Mortgagee's Sale of
The Homes at Old Marsh Country Club
445 Clubhouse Road
off Route-9B / Littlefield Road
Wells, Maine
Monday March 1, 2010 at 12 Noon
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LOTS SOLD $2.1 million - 123+ Lots with Building Rights and
(4) Newly Constructed Detached Single Family Condominium Homes.
Great Residential Development Potential. Don't miss this opportunity !
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- OPEN HOUSE & INSPECTION
- Drive-by and 1-Hour Prior to the Auction
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The Golf Course at Old Marsh: The Old Marsh project was originally configured as a condominium project of 133-units. The 18-hole golf course is one of the 133-condominium units within the project and has been sold to and operated by a third party. The golf course is not included in this auction.
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Lots & Homes: The infrastructure / lots were planned to be built over several phases. The Phase-1 infrastructure is substantially complete. Currently, there are 43-lots remaining in Phase-1, and a total of 80-lots remaining between Phase-2 and Phase-3, for a total of 123-lots remaining for mostly single-family detached condominium homes, and some duplex homes.
In Phase-1, 8 homes have been built; 4 have been sold and the remaining 4 homes are included in this auction. Those 4 homes are #60 Winner's Circle, #88 Winner's Circle, #179 Championship Way and #214 Championship Way.
- Improvements to Date per HA Vaughan & Associates:
Roads - There are 14,280 feet of roads; 7,778' are completed through base coat of pavement; 1,238' are completed to gravel sub-grade; 633' are completed to sub-grade; 4,631' have not been started.
Utilities - the well field and pump house are complete and the sewer system and leach fields are installed. The water and sewer lines are installed and operating under approx. the 7,778' of completed-to-base-coat, and services the golf course, clubhouse and approx. 51 units.
The Town Engineer Andrew Masella from OEST Associates, provided the following information:
- On all the roads that have been paved, the surface pavement still remains to be done.
The eastern entrance (main entrance) of Clubhouse Road has been built and constructed to the intersection of Golfers Drive and Birdie Lane.
Championship Way has been constructed to House Lot 36
All of Highland Circle (now known as Winner's Circle) has been completed.
From the existing cul-de-sac of Clubhouse Road to the intersection of Golfers Drive & Birdie Lane, sub-base gravel has been installed and the road rough graded.
A gravel maintenance road to the water pump house has been been constructed.
The wastewater disposal reserve area in Fairway-2 has been constructed. The on-site sewer has been completed where paved roads exist to the septic fields. This includes water stubs for future homes.
The water line has been installed from the pump house throughout the paved roads to the golf maintenance building and clubhouse.
Underground electric has been installed within the paved roads.
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- The property will be sold as follows:
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The Mortgaged property will be sold in the entirety; all the remaining 123 building rights / lots, and the 4 already built residential homes as a package.
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Deposit: Twenty-Five Thousand Dollars ($25,000.00) at the time of the auction. The successful bidder will increased the deposit to Ten Percent (10%) of the purchase price no later than five (5) business days after the sale date. Bid deposits must be made by cash or certified check.
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Purchasers must sign a purchase and sale agreement with Butler Bank, which agreement shall provide that the purchaser will be responsible for all real estate and/or personal property taxes and other municipal charges attributable to the respective property unpaid and in arrears and for all subsequent tax years.
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Closing of the sale shall be held within thirty (30) days of the public sale.
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- Taxes Due as of March 1st, 2010
408-acre Main Parcel, Map 33, Lot 1, $13,161
#60 Winner's Circle, Map 33, Lot 1-118, $3,607
#88 Winner's Circle, Map 33, Lot 1-114, $1,726
#179 Championship Way, Map 33, Lot 1-37, $1,208
#214 Championship Way, Map 33, Lot 1-30, $1,143
See also: Superior Court Judgement at York County Registery Book 14311, Page 0857
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