iAuction Terms & Conditions 

1. Procedure: Bidding ends Wednesday, August 16, 2023 at 10:00 AM, with a soft close, meaning that a bid in the final minute will extend bidding by 5 minutes. All Bids are placed by the Lump Sum!  

2. BUYERS PREMIUM: 5% Buyer’s Premium will be added to the final bid price to arrive at the contract sales price. 

3. ACCEPTANCE OF BID PRICES: Winning bidder will enter into a Contract to Purchase immediately upon being declared the Successful Bidder by the Auctioneer. Upon the close of the auction, the winning bidder will be forwarded via email a Contract to Purchase. Trophy Properties and Auction must receive a signed copy of the contract on or before 12:00 NOON, Thursday, August 17, 2023 (hand delivered, faxed, or scanned and emailed). The Seller reserves the right to reject any and all bids. Once accepted, this agreement shall be binding on the parties and their successors and assigns. This agreement is NOT subject to financing, inspections, or other contingencies or delays the closing for such reason. 

4. DOWN PAYMENT: $5,000.00 Earnest Money will be due upon acceptance of the Sales Contract. Business or Personal Checks or Wire Transfer are accepted. 

5. BIDDING: Once submitted, a bid cannot be retracted. 

6. CLOSING: Closing shall be on or before 3:00 PM., Thursday, September 28, 2023. 

7. POSSESSION: Possession will be given at closing, subject to the remaining rights of the current tenant if any. 

8. TITLE: Seller shall furnish the buyer(s) at Seller’s expense an Owner’s Policy of Title Insurance in the amount of the purchase price, and agrees to provide and execute a proper deed conveying merchantable title to the real estate to the buyer(s). 

9. SURVEY: AT SELLERS OPTION, the Seller shall provide a new survey where there is no existing legal description to convey title.  

10. REAL ESTATE TAXES: The 2023 Real Estate taxes to be prorated to the day of closing.  

11. Under no circumstances shall Bidder have any kind of claim against Trophy Properties and Auction, or anyone else if the Internet service fails to work correctly before or during the auction. 

The information is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines are drawn on maps, photographs, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties pertaining to this property. Both real estate (including all improvements, if any) is being sold As Is, Where Is with NO warranties expressed or implied. Please make all inspections and have financing arranged prior to the end of bidding. This property is subject to prior sale. 

St. Louis, MO – 10716 Oak Avenue for Sale at iAuction 

Property Preview Sunday, July 30^th 1PM to 3PM.  

Bidding Ends Wednesday, August 16^th at 10AM.  

Welcome to 10716 Oak Ave, a unique property offering multiple opportunities for income generation or comfortable living. Situated on almost a half-acre lot, this property features two residences and an oversized detached garage. 

The bungalow located in the back of the property is currently rented out at $500 per month, with the market rate for similar properties exceeding $600. This presents an opportunity to increase rental income in the future. 

The main house, located in the front, is currently vacant and awaits your personal touch and updates. Once updated, this house has the potential to be rented for $1,100 to $1,200 per month, providing a significant source of rental income. Alternatively, you can choose to live in the main house and rent out the other units for additional income. 

In addition to the two residences, the property offers an oversized detached garage, which can be rented out separately for approximately $150 per month. This creates a third potential stream of income for the property. 

Conveniently located just a few blocks from Lindbergh and Page Ave, this property provides easy access to major transportation routes such as I-270 and Hwy 364. Whether you're commuting to work or exploring the surrounding area, this location offers convenience and accessibility. 

The property boasts a newer roof and fresh paint, providing a solid foundation for your vision and updates. With some creativity and investment, you can transform this property into a lucrative income-generating asset or a comfortable home. 

Don't miss this opportunity to capitalize on the potential of 10716 Oak Ave. Call Eric Merchant at 636-251-5105 to take a closer look and envision the possibilities that await!