11 residential properties in Kansas City will be sold in an online-only auction ending Nov. 16th

KANSAS CITY, MO, October 24, 2010 (Press-News.org) Eleven properties in Kansas City - ten single-family homes, plus a 6-unit apartment building - will be sold without reserve (everything goes, regardless of the final sale price) in an online-only absolute auction that ends Tuesday, Nov. 16, by Mayo Auction & Realty, based in Kansas City. The properties can be seen online, at http://www.auctionbymayo.com.

The auction will conclude a six-year legal limbo for the properties, the last five and 1/2 of which saw them in federal receivership while the courts decided what to do with them. It was a case that involved the city, the Department of Housing and Urban Development (HUD) and the Housing & Economic Development Finance Corporation (HEDFC), a city-hired outside agency.

"What proved to be a sad chapter in the history of Kansas City's housing situation will end up being a happy day for some very fortunate bidders," said Robert Mayo of Mayo Auction & Realty. "What makes this auction so unique is that it is being held entirely online, a strategy our company has used successfully for years. It allows people to bid at any time, at their leisure."

The 6-unit apartment building, located at 2709 Benton Boulevard, is one such property that will need a total rehabbing. But National Historic Standards apply, so the new owner will be eligible for tax credits in addition to knowing they will be renovating a piece of Kansas City's history. The three-story brick and vinyl-sided structure is presently boarded up and unoccupied.

Three new construction homes located at 615, 619 and 623 Kensington Avenue will all be sold to the highest bidder. All are 3-bedroom, 1-½ bath structures with a large and spacious floor plan, poured concrete foundation, detached garage and low-maintenance vinyl siding. "It isn't often you get to bid on a brand new home," Mr. Mayo said. "This is a special situation."

The 2 bedroom, 1 bath home at 10703 Ewing Drive has been completely renovated and is move-in ready. Features include a garage, new carpeting, new kitchen appliances and new, low-maintenance vinyl siding. The home located at 3025 Wayne Avenue is only in need of some minor repair to make it move-in ready. The 2 bedroom, 1-bath split-level has a full basement.

Several of the properties are in need of a total rehab. Two of them, though - at 2519 and 2535 Tracy Avenue - are in excellent neighborhoods, in the Beacon Hills section of town. Both are large and spacious 3 bedroom/1 bath split-level homes. One has a 1-car garage and both have basements. Each is eligible for a 10-year full or 15-year (50%) tax abatement on improvements.

Other properties in need of a total (but easy) rehab include the spacious 3 bedroom/1 bath split level home at 2314 College Avenue, with a basement; the 2 bedroom, 1 bath home at 5227 Euclid Avenue, with a basement and a garage; and the 3 bedroom/1 bath split level residence at 2726 Park Avenue, with a basement. Mayo Auction & Realty are agents for all eleven properties.

Mayo Auction & Realty is one of the premier auction and real estate firms in Kansas City and Missouri. The family-owned business is a team of professional auctioneers and Realtors. It conducts real estate and personal property auctions, with an emphasis on on-site auctions of real estate, estates, antiques and collectibles, specialty collections and benefit and fund raising sales.

Mayo Auction & Realty also conducts auctions in a spacious, 7,500-square-foot, state-of-the-art facility in the heart of Kansas City. The firm is always accepting quality consignments for future sales. To consign an item, an estate or collection, you may call them at (816) 699-9883, or you can e-mail them at Robert@auctionbymayo.com. The firm is located at 8253 Wornall Road.

To learn more about Mayo Auction & Realty and the online-only auction of 11 properties that ends Nov. 16, please log on to http://www.auctionbymayo.com.