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Known minimum bid $7.5MM and in final bids this week.
a. Bank prefers a leveraged purchase at 70% LTV (30% down by purchaser) with a 7% floor rate (2 + prime for 2+ years)
b. Cash offer acceptable at $7.3M (all offers must be accompanied by “Proof of Funds”, bank requirement)
c. All offers must have short “Due Diligence” periods + a short close date
Buyer to make own evaluation
Buyers only please: E-mail me at George.M.Lara@gmail.com