Item Id: Lightle01
Case Name: Lightle, Jack Boy & Lightle, Connie DeLane
Case Number: 14 12615
Starting Minimum Bid: $42,900
Description: Estate’s 100% interest in a Secured Promissory Note bearing a 5.00% interest rate per annum. Further information about the note:
One (1) promissory note secured by two (2) parcels of land located near Maricopa, Pinal County, Arizona. The Amended and Restated Note originated in January 2017 and the entire balance is due and payable on or by January 2023. Payments on the Note have been fairly consistent, in varying dollar amounts but are currently 4-5 months in arrears.
As of February 2018, the balance remaining to be paid on the Note was $92,392.86 plus any arrearages.
The Note requires monthly payments in the amount of $600.00 with all unpaid interest principal and accrued interest due and payable on or before 1/15/2023
The Estate has been receiving principal and interest payments since the filing to benefit creditors. The Trustee has been servicing the Note
Payment history to be provided shortly and will be linked once the auction commences.
Location Info The parcels are located near Maricopa in Pinal County, Arizona. Parcel number/Map Number is:
The property is located at 52413 West Caravan Lane, Maricopa, AZ 85139. The second parcel is:
The 2nd property also includes a Deed of Trust and Assignment of Rents for 52471 West Caravan Lane, Maricopa, AZ 85139. There is a 1998 Sandalwood Fleetwood Mobile Home attached which appears to be occupied.
Past and current payments from the Note have been made directly to the Bankruptcy Estate. Once the promissory note is sold and after the highest bid amount has been paid by certified funds to BKAssets.com, any future payments will be redirected to the new owner of the note. There shall be no claim by the buyer to any prior payments received by the Trustee in any circumstance.
Executed Restated Note
Payment Summary March 19
Notes: A closing cost fee of $275 will apply. This is all we know about this item. Any fees/liens owing on this item are not part of the final bid price. A bid submitted by a buyer is an agreement to our Terms. Buyers should not bid unless they fully intend to complete the sale in accordance with our Terms (to view terms, click “Terms” tab in Seller Store header at top of ad).
Bidders should familiarize themselves with BKAssets.com policy regarding ‘Proxy Bidding’ (see ‘Bidding Guide’ on www.bkassets.com Home Screen). BKAssets is not responsible for connectivity issues, or Internet transmission times, when submitting an auction bid near the close of auction. The auction process does not extend past the set close time of the auction and bidders are solely responsible for the timing and receipt of their bids if they elect not to utilize Proxy bidding.
Title and Escrow: A title search was NOT performed on this property. BKAssets does not provide title insurance. If title insurance is desired, the buyer is responsible for obtaining it through a title company. The title company must comply with the terms of the sale as ordered by the court. Because this is a US Bankruptcy Court ordered, as is where is sale, BKAssets.com is not permitted to use an escrow company, or provide any warranties or guarantee, implied or stated.
Legal Info: By Order of the United States Bankruptcy Court, Bkassets.com sells this and any other property “AS IS, WHERE IS”, with no warranties implied or stated. This means that the Seller and the trustee are not responsible for problems (if any) with the title, the condition of the property, or any liens or encumbrances against the unit. The buyer will be entirely responsible for this Note after the sale including but not limited to: paying any fees/costs associated with this Note, paying all fees/liens (if any), recording/transferring the title and gathering any paperwork/documentation necessary for that process. BKAssets and the trustee shall be under no obligation to buyer except to provide buyer with an assignment of the Promissory Note. All the information as to the item description has been provided by the trustee and debtor attorney indicated above. BKAssets cannot guarantee that all the information is accurate. BKAssets recommends all bidders perform their own due diligence prior to bidding. As with any bankruptcy sale, this sale may be subject to court approval.
Payment Info: $U.S. Money order, certified check, cashier’s check. BKAssets may also accept “Bill Pay” from Citibank, Wells Fargo, Bank of America, Chase or a local regional bank or Credit Union. If you would like to use “Bill Pay,” but do not bank at one of these establishments, please call BKAssets prior to sending payment.
A closing cost fee of $275 (payable to seller) will apply. Full payment must be received within (7) days of winning bid. Any bidder who does not complete the sale within 7 days from the close of auction will be considered in default. Seller has the right to proceed with the next highest bidder.
Shipping Info: Shipping is included to all buyers in the United States. International bidders are welcome, please contact BKAssets for shipping costs to countries other than the United States prior to bidding. Shipping costs to locations outside of the US will be calculated at the close of auction. Please be advised that because this is a US Bankruptcy Court Ordered sale, and subject to approval, shipping can take an average of 3-6 weeks.
Liens: We do not know of any other liens
Bidding Guide: Please review the bkassets.com bidding guide for terms of auction prior to placing a bid or making an offer..