PROPERTY FOR SALE

1313 Far Hills Avenue
Oakwood, Ohio 45419

 

Background
The City of Oakwood purchased 1313 Far Hills Avenue in 2020, ahead of a major storm sewer reconstruction project.  At the time, the property was the site of a residential home which had been constructed in 1958, directly above a large storm sewer pipe that ran through the center of the lot.  That home was demolished in 2023 to facilitate reconstruction of the storm sewer.  The City of Oakwood is now selling the 0.5042 acre vacant lot for single-family residential development.  The old sewer pipe has been disconnected, abandoned, and filled, and a new sewer pipe has been installed along the southern edge of the property.  The City will retain an easement for the sewer pipe when selling this lot.

 

Property information
Auditor’s parcel ID numbers: Q71-00807-0006, Q71-00807-0007
Linked documents:

 

Sales Process                      
1313 Far Hills Avenue will be sold to the highest bidder, using the following procedure:

1.  The City of Oakwood will accept bids for the purchase of 1313 Far Hills Avenue until 5:00 p.m. on Thursday, July 11, 2024. No bids will be accepted after that time.

      • Bid security deposit. Bids will not be considered unless accompanied by a bid security deposit of $2,500 in cash or certified funds.  The bid security deposit will be refunded to each unsuccessful bidder and will be retained from the successful high bidder.  If the successful high bidder completes the purchase, the bid security deposit will be applied towards the purchase price.  If the successful high bidder fails to complete the purchase for any reason, the bid security deposit will be retained as reimbursement for the City’s administrative costs and will not be refunded.

      • Minimum bid. The minimum bid will be 90% of the property’s appraised value.  Any bid below that threshold will not be considered.

      • Bid contact information. Bids must include the bidder’s name and full contact information, to include telephone number(s), mailing address(es), and email address(es).  If the bidder is a corporation, LLC, or other legal entity other than natural person(s), the bid must include sufficient documentation to verify the bidder’s legal existence and authority to submit the bid.  The City’s Law Director will have the discretion to invalidate any bid that does not appear to meet this requirement.

      • Site visit. Interested bidders may arrange to view the premises by contacting the City’s Law Department at 937-298-0600.  Please note: the property is currently vacant, grass-seeded w/straw, has one curb-cut for installation of a driveway, and is construction-ready. Site fronts on Far Hills Avenue and has access to all utilities.

      • Submitting your bid.  Bids will be accepted by mail addressed to City of Oakwood, Attn:  City Law Director Rob Jacques, 30 Park Avenue, Oakwood ,OH 45419; or by email at jacques@oakwoodohio.gov.  Bids must be received by 5 p.m. on Thursday, July 11, 2024.

2.   Bidders will be notified of the outcome on or about July 15, 2024.

3.  The successful high bidder will have five (5) business days to sign a purchase contract after notification. Contract terms will include the following:

      • No financing contingency.

      • City to retain easement for sewer pipe.

      • Single-family residential use only, consistent with surrounding neighborhood.

      • Construction to begin within 12 months after purchase unless extension approved by City Council.

      • City to prepare deed and easement at its own expense.

      • Title examination and insurance at buyer’s expense, if desired.

      • Buyer to pay any other costs of closing.

      • Closing to be scheduled at a mutually convenient time and place.

 

For additional questions or concerns, contact City Law Director Rob Jacques at (937) 298-0600.

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