Olathe Kansas Home and Acreage with Riding Arena

Thursday, April 01, 2021

Mayo Auction & Realty
Preview: Saturday, March 27th from 1:00 PM to 2:30 PM or by Appointment Only.

THIS IS AN INTERNET ONLY AUCTION - If you prefer to turn in a bid in person, please call the office at 816-361-2600 to make arrangements. Deposit: The winning bidder is required to bring a deposit of $10,000.00 to our office and execute a purchase agreement the next business day following the conclusion of the auction. Deposit must be in the form of wire transfer, cashiers check, personal check with a bank letter of guarantee, or cash. Buyers Premium: A 10% buyer's premium will be added to the final bid. If you bid $10,000.00 the total sale price will be $11,000.00. Possession: Closing will take place no more than 30 days from the day of the auction. The seller at closing will convey a good and marketable title. Buyer & Seller will be responsible for customary closing costs issued by the title company. Easements: The sale of this property is subject to any and all easements of record. Real Estate Taxes: Real Estate taxes shall be prorated to the date of possession. Purchase Agreement: The successful bidder shall execute a purchase agreement the following business day after being declared the winning bidder by the auctioneer. Please Note: The purchase agreement will offer no contingencies, including but not limited to financing. Terms: The property is being sold “AS IS, WHERE IS” without warranty or guarantee of any kind. Each potential buyer is encouraged to perform his/her own independent inspections, investigations, inquiries, and due diligence concerning the described property. Agency Disclosure: Mayo Auction & Realty is the selling agent and all parties employed by or associated with Mayo Auction & Realty represent the Seller in this transaction. Financing: Terms for this auction are cash. The seller is offering no other terms or contingencies. Therefore the buyer may NOT purchase this real estate subject to loan approval. Broker Participation: Mayo Auction & Realty encourages Broker/Agent participation. To qualify for a three percent (3%) Buyers Agent Commission, all Agents must register their client 24 hours prior to the auction. Bring your buyers. This is a good opportunity for you & your buyer. We teach you everything that you need to know about the auction process. Backup Bids: In the rare event that the winning bidder is unable to close on this transaction, we do accept backup bids. If you are not the winning bidder and would like to make a backup bid. Please call our office for the necessary paperwork. Dynamic Closing: The closing time of an asset is automatically extended an additional 5 minutes whenever a bid is placed within the last 5 minutes of the asset's closing time. Warranty and Condition of Items Sold: All items are sold 'AS IS, WHERE IS, with NO WARRANTY expressed or implied. It is the responsibility of the buyer to determine the condition of the items and bid accordingly. Descriptions are believed to be accurate but not guaranteed. When you are not certain of the condition or use of an item, please bid accordingly. Catalog Discrepancies: You are bidding on the described item, not the photograph, occasionally the wrong photo may be displayed, always read the item description. The auctioneer reserves the right to add or remove items from the auction; split or combine lots; add minimum bids or reserve prices; cancel, suspend, extend or reschedule an individual item or auction event. The auctioneer reserves the right to make changes to the auction closing times or inspection or removal times
31465 W 127th Street, Olathe, KS US

Why is this property back on the market?

On 2/16/21, prior to the bidding ending on the auction, the heat sensor failed on the furnace causing a broken pipe in the master bath resulting in water damage to the ceiling in the downstairs breakfast area. This information was disclosed to all interested parties and bidders on 2/17/21, 8 days prior to the end of the auction.

At the conclusion of the auction on 2/25, the winning bidder decided not to perform, and as a result, the property did not sell.

The furnace and pipe damage have been repaired. Water remediation has been completed and damaged flooring and other material have been removed.

Are you looking to spread your wings? This is the perfect opportunity to name your price on this fantastic property with a riding arena on 14.64+/- acres. The home has 3 bedrooms and 2.5 baths and a backup generator. It features an upstairs and downstairs fireplace, large master suite with an upstairs balcony. The riding arena is located at the south end of the property and features 5 horse stalls and a wash stall. The arena is made up of a dirt floor and the stalls are concrete. The entire arena measures approximately 140' x 58' and it has 3 overhead doors. The property also includes a barn, corrals, storage shed, loading sheds, and a shop that measures 43' x 22'. Make this great property your own at your price!

Do you have real estate to sell?

Is your property better suited for a real estate auction, or traditional real estate listing?

Whether you are in the Kansas City area, or anywhere in Kansas or Missouri, Mayo Auction and Realty will help you understand what method of selling your real estate is best for you.

Learn more today 


Announcement: Information contained herein is presented on behalf of the seller. Mayo Auction & Realty, agent for the seller, cannot guarantee the information to be correct or assume the liabilities for errors and omissions. All lines drawn on maps are approximate. Buyers should verify the information to their own satisfaction. Any announcements made from the auction block on day of auction will take precedence over any matter of print and will be final.