The Edisto Beach Advisor-the Inside story to Edisto Beach Real Estate

Gov't Seized Home on Edisto Island-Goes on Auction Block

Edisto Beach, SC

This Amazing Opportunity just came across my desk and I thought I would share it with my friends.  This is a once in a lifetime opportunity for someone to own a very nice home on true deepwater- with killer views.  It is located down Peters Point road about 3 miles on the right in a small subdivision called Spartina. This home was originally listed for $999,000 about 2 years ago but sell should sell for way less.  As of today, the opening bid has not been established.  Unlike bank auctions, Uncle Sam can sell for whatever the market brings.

So How Did the Gov't get it on the Block? As word on the street has it-the previous owners were bilking the government for millions of dollars by selling military parts.  They had a scheme by selling the parts for the market price but charging an outrageous shipping charge.  About 20 million dollars later, Uncle Sam gets smart and indites the operators and seizes the property of the law breakers.  Luckily for the buyers, somebody is going to get a heck of a deal on a waterfront house on Edisto Island.  The auction is on February 18, 2010 in Charleston.  Auctions are a great way to pick up a deal but can sometimes be tricky.  The paperwork can sometimes be daunting. I will be glad to answer any questions that you may have. Check out the details below:

1499 Marsh Bluff Court

1499 Marsh Bluff Court, Edisto Island, SC

Single Family Home

1.5 level home with 5 bedrooms, 3.5 baths, kitchen, great room, dining room, den, recreation room, laundry, and attached 2-car garage on the lower level. The home has a fireplace, 2 wood decks, screened porch, reverse osmosis system well, and storage building. All furnishings (except designated paintings) are included. The home is located on 4 ± acres in the small community of Marsh Bluff and has a dock on a deep waterway. Edisto Beach offers some shopping, with most amenities located in the larger cities of Walterboro and Charleston approx. 40 miles away. Click to view Spartina Bay HOA documents. Click to view dock lease.

Click here to view a virtual tour and more photos of the property.

Directions to Sale Property: From Charleston International Airport take International Blvd. Turn Right on ramp for I-526/Mark Clark Expressway toward Savannah. Turn Right onto SR-7/Sam Rittenberg Blvd. Turn Right onto US-17/Savannah Hwy. Bear Left onto SR-162 West. Keep Left onto SR-164. Turn Left onto SR-174. Turn Right onto Peters PointRoad. Turn Right onto Marsh Bluff Ct.

Auction: Thursday, February 18, 2010

Registration Starts: 10:00 a.m

Auction Starts: 11:00 a.m.

Auction Location: Held at the property site

Open House Dates: Sunday, February 7 and 14, 1:00 - 4:00 p.m.

Deposit: $50,000 Cashier's check made payable to EG&G Tech Srvcs

Opening/Starting Bid: Will be established at the auction

Minimum/Reserve Bid: For details, please click here

Cashier's checks made payable to bidder's name CANNOT be accepted uilities: Electricity, Well Water, and Septic   Parcel No: 025-00-00-038   2009 Annual Taxes: $8,683.87 ±   Age: 5 years   Zoning: AGR/Agricultural-Res use permitted   Total Living Space: 3,851 ± sq. ft.   Total Site Area: 4.05 ± acres   County: Charleston   HOA Fee: $400 ± a year   Sale Number: 10-66-894

Back of 1499 Marsh Bluff Court



Dock of 1499 Marsh Bluff Court
Floor Plan of 1499 Marsh Bluff Court

(Click on Photos for more Details)

It is going to be a great deal for some lucky buyer.  If you feel overwhelmed by the details-It would be my pleasure to represent you.

Stay Warm,

Cal Griffin
The Edisto Real Estate Advisor
843-908-2101
Click Here for FREE EDISTO MLS

Published Tuesday, January 05, 2010 10:22 PM by Cal Griffin