Bottles Auctions will be auctioning Priest Lake Area Endowment Land Cottage Sites for the Idaho Department of Lands on August 26, 2023 at the Coeur d’Alene Inn, 506 West Appleway Ave., Coeur d’Alene, ID 83814, commencing at 10:30 PDT. Please contact Bottles Auctions (208) 377-5700, emily@markbottles.com and jacob@bottlesauctions.com with all questions.
The bidding at auction will be for the Endowment Land LOT ONLY, and the cost for the improvements/cabins will be sold at a fixed price of their appraised value in addition to the high bid price for the Lot. The minimum bid for each Lot must meet or exceed the Reserve Price set forth below. Buyer to conduct all due diligence prior to auction. Property being sold “AS-IS” with NO CONTINGENCIES.
Legal Description: Lot 10, Block 1, Kokanee Point Subdivision, Bonner County
Lot Size: +/- 12,197 SF
Published Reserve (Lot Only): $733,000
Improvement: +/- 1,798 Sq. Ft. Improvement – 3+ Beds, 2 Baths
Cashier’s Check to Bid, TOTAL Due Auction Day: $461,130
- $50,000 (deposit towards the purchased of the Lot)
- $1,800 (Title Commitment Deposit & Appraisal Fee)
- $7,330 (1% of Appraised Lot Value – Initial Administration Fee)
- $402,000 Value of the Improvements
- Cashier Check made payable to: First American Title Insurance Company
Closing: Shall take place 30-60 days after the Auction, with potential 30-day extension.
Administration Fee: 4% of High Bid due at Closing.
Legal Access to Lot 10, Blk 1 is set forth on the Declaration of Driveway and Utility Easement, recorded as Instrument No. 877422 (link provided below).
The maintenance of the driveway shall be the obligation of the owners. There is no HOA maintenance of any roads.
The Appraisal is provided for informational purposes only, and neither IDL or Bottles Auction make any representation about the accuracy or completeness of the information therein.