IRS Auction - Sales Ad for Houston, TX

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Notice of Public Auction-REDEEMED PROPERTY

Under the authority of section 7506 of the Internal Revenue Code, the property described below will be sold at public sale on an open occupancy basis. The United States redeemed this property under the provisions of section 7425 of the Internal Revenue Code on April 27, 2009. The property was deeded to the United States on April 27, 2009. The sale will be by a public auction to be held on:

Date:

7/6/2009

Time:

10:00 AM

Open House:

June 12, 19, & 26 – 12:00 – 4:00 PM

Bidder Registration Time:

9:45 AM

Sale Location:

1205 W. Pierce, Houston, TX 77019

Title Offered:

Contact Shelia Kuykendall, PALS

Description of Property:

A 1,394 sq. ft. single family residence, brick home, with central air and heat, built in 1925; located on 5,000 sq. ft. of land – per Houston County Appraisal District – acct #0523680000015 and 2008 appraised value - $271, 433, with the land valued $200,000.00. It’s a cute, 2 bedrooms, 2 and ½ baths brick bungalow, with a recreation/office room, hardwood floors, open front porch and 2 car detached garage. This classic brick bungalow is located in Rosemont Heights, a well established neighborhood, with great land valued at $200,000.00; median appraised value of homes - $241,000.00, neighborhood range - $195-$318K; average of 56 single family homes, median price/square ft. - $224.07 and median sq. ft. – 1,528 ; medium year built – 1940 per www.har.com

Location of property:
This house is located to several local restaurants, shopping centers, art museums. It also has a great skyline view of downtown Houston. Rosemont Heights is located near Midtown, www.houstonmidtown.com and River Oaks, www.riveroakshouston.com. Location is Midtown´s chief asset because it is situated directly between Downtown and the Texas Medical Center. Midtown Houston is a logical choice for a residential area to serve the two largest employment centers in the region with more than 200,000 jobs. There are also five colleges and universities nearby. Midtown is a good location for faculty, staff, and student housing for these institutions. Midtown currently includes approximately 617 acres of land within its boundaries, 365 of which are developable. Midtown´s 22.9 miles of streets and approximately 325 city blocks identify it as an obvious extension of what is now Downtown. Also, River Oaks, an affluent community is located in the geographic center of Houston, Texas located within the 610 Loop and halfway between Downtown and Uptown. The River Oaks community spans 1,100 acres in area. It was established in the 1920s by brothers William and Michael Hogg, the community became a well-publicized national model for community planning. River Oaks is considered to be one of the wealthiest communities in Texas and has one of the wealthiest zip codes in the United States. Real estate values in the community range from $1 to 20 million dollars. The community is home to River Oaks Country Club, which includes a golf facility designed by architect Donald Ross.

Property May Be Inspected at:

During Open House ONLY

Legal Description:

Lot 15, Block 6, Rosemont Heights, a Subdivision in Harris County, Texas, according to the map or plat thereof, recorded in Volume 525, Page 251, of the Deed Records of Harris County, Texas; also known as: 1205 W. Pierce Street, Houston, TX 77019.

Minimum Bid:

$135,000.00

Bid Note:

Mail in bids accepted

Click here for Notice of Encumbrances

Click here for Mail-in Bid Form

Click here for photos of property

The Terms of Payment:

A deposit of $27,000.00 is required when the highest bid is tentatively accepted. When the highest bid is tentatively accepted, the highest bidder must deposit $27,000.00 with the PALS. The balance of the purchase price must be paid no in full no later than 30 calendar days after the highest bid is accepted.
The highest bidder must deposit $27,000.00 within two hours from the conclusion of the sale. The balance of the purchase price is due and must be paid no later than August 6, 2009.
Payment of all required deposits and the balance of the purchase price must be made by certified, cashier’s or treasurer’s check drawn on any bank or trust company incorporated under the laws of the United States. Payment may also be made by any United States postal, bank, express or telegraph money order. All checks and money orders should be made payable to the United States Treasury.
If the highest bidder defaults in payment of the bid price, and the property is not sold for at least the amount of the highest bid, the bidder’s deposit will be retained pending final determination of the damages the Government sustained because of the bidder’s default. If damages are more than the amount of the bidder’s deposit, the bidder will be liable for excess damages.
The Government reserves the right to reject any and all bids and to withdraw the property from the sale.

Form of Payment:

By certified, cashier’s or treasurer’s check drawn on any bank or trust company incorporated under the laws of the United States. Payment may also be made by any United States postal, bank, express or telegraph money order. All checks and money orders should be made payable to the United States Treasury.

For additional information about the property and proposed sale, please contact the following office:

Name:

Sheila Kuykendall

Title:

Property Appraisal and Liquidation Specialist

Bureau:

Internal Revenue Service

Address:

12941 I-45 North, Suite 316,
MS-5224HNW
Houston, TX, 77060-1235

Phone:

(713) 201-8820

Mobile: