Live Auction - Hurricane Harvey Flooded Properties In Houston

Date : 05/16/2018 @ 4:37PM
Source : PR Newswire (US)

Live Auction - Hurricane Harvey Flooded Properties In Houston

HOUSTON, May 16, 2018 /PRNewswire/ -- Paul A. Lynn & Associates, LLC announces a multi-property auction of structures, mostly flooded from Hurricane Harvey and other redevelopment sites.  The portfolio consists of more than a half dozen sites (more being added) that were flooded by Hurricane Harvey, ready for rebuilding or redevelopment.  One of the homes has been remodeled and is in move-in condition.  Harvey flooded sites are in Meyerland and Bellaire areas.  Also, part of this auction is a 11,880± SF site that was not flooded, in the immediate area adjacent to Memorial City. A site at 6638 N. Main can be developed for residential use and has approved plans and permits in place.  The auction will be Tuesday, June 12th at the Hilton Galleria Area Hotel (Formerly Hilton SW),  6780 Southwest Frwy, registration starts at 5:30, Auction begins at 7:00: Buyer's Seminar will be Wednesday May 30th 7:00 at Hilton SW Hotel, 6780 Southwest Frwy. 

"Since last summer's Hurricane Harvey flooding, sale of properties in the affected areas has seen erratic pricing and Sellers don't know how to price.  In this type of non-traditional market, the auction will help both Sellers and Buyers find the current 'true market value,'"  according to Paul A. Lynn, CCIM, Broker and Auctioneer.  Suggested opening bids will be as low as $150,000.  The Harvey flooded properties have been stabilized but are generally not in habitable condition.  They will need to be will raised, rebuilt or demolished.   The property in Memorial City area is at the corner of Bunker Hill and Barryknoll Ln., City of Houston, can be redeveloped for multiple types of commercial and/or multi-unit residential use.  The 6638 N. Main site has approved plans and permits and is ready to build. 

Properties are being sold "As-is, Where-is" with no warranties and no financing contingency.  Buyers will need to bring a $10,000 cashier's check to bid;  closings must take place 30 days following the auction.  Ten percent (10%) Buyer's Premium added to the high bid price.  For details, Terms and Conditions, and other aspects of the auction see web site or contact us, (832) 598-8BID (243).  We are planning a fall 2018 auction, call for information or to include your property. 

About Paul A. Lynn & Associates, LLC: Paul A. Lynn, CCIM has been part of the Houston community for over 40 years with 30+ years of auction experience.  Mr. Lynn has recently sold over 1,200 Hurricane Katrina impacted properties generating $40± million in sales throughout New Orleans.  Throughout the years Mr. Lynn has been involved auctioning all types of residential, commercial, land, farm and special purpose real property and industrial personal property. Auc. Lic# 9627, TREC Lic# 9000489

Contact: Paul A. Lynn, CCIM


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SOURCE Paul Lynn & Associates

Copyright 2018 PR Newswire

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