Developer's AUCTION

(8) Condominiums (Offered Individually) - One Unit Selling ABSOLUTE

The Farragut Inn Homes, Kennebunk, Maine

Saturday, September 25th at 11:00 a.m.

SOLD at Auction for $1,101,150

One Unit Selling Absolute – High Bidder’s Choice:  One of the (8) condominium units being offered at the auction will be sold ABSOLUTE.  The high bidder of the first round of bidding will have their choice of the (8) available units and this first unit being chosen will be sold ABSOLUTE  - with No Minimum Bid and No Reserve.  The remaining (7) units will be sold on choice with the high bids being Subject to Confirmation by the Trustees.  When the high bid is reached on each of the remaining (7) units, the Trustees will have the opportunity to accept or reject the high bid. 

Open Houses:  All units are available for inspection daily from 1:00 p.m. to 4:00 p.m. starting Tuesday, September 14th through Friday, September 24th

Terms:  There are a total of (8) condominium units being offered at this auction.  The units will be auctioned separately, not as a package.  A $10,000 deposit per unit in the form of a cashier’s check or certified funds made payable to Paul McInnis, Inc. Escrow Account is required to bid.  Only one $10,000 deposit check will be required to bid on any or all of the (8) condominiums; however, if you wish to purchase more than one unit, additional $10,000 deposit(s) will be required.  (Unsuccessful bidders’ deposits will be returned at the conclusion of the auction.)  There is a 10% Buyer’s Premium added to the high bid to become the total purchase price.  The balance of the purchase price will be due and payable within 45 days of the auction at the time of closing.  The property will be sold free and clear of all liens and is being sold in “As Is”, “Where Is” condition.  Sale Per Order of the Trustees of a Family Trust and is Subject to Confirmation.  All units are subject to prior sale or withdrawal.

Directions:  From the Maine Turnpike, I-95 North or South, take Exit 3 (Kennebunk Exit).  Take a left off the exit to Route 35 South for approximately one mile, bearing left at a fork in the road after passing the High School.  Proceed for approximately one half mile until you intersect Route 1 in downtown Kennebunk.  Turn left, north on Route 1 for approximately one mile.  The Farragut community, marked by the granite Farragut sign, is on the right hand side of Route 1, immediately after a large open field on the right hand side of the road.