Space House Spins Into 2nd Auction from the Chattanooga Times Free Press
Reported by: Jason Reynolds
Thursday, November 20, 2008
The Space House is up for sale ? yet again.
“This is an opportunity to own a unique property and is ideal for that weekend getaway,” said Eric Spencer, an auctioneer with Crye-Leike Auctions. “This is truly the most unique property we have ever sold.”
The landmark house on Signal Mountain previously sold in auction on March 15 to an unnamed buyer in Ohio, but that sale fell through, said Tony Young, a Crye-Leike auctioneer.
“This was probably one of only several hundred auctioned properties we’ve handled recently where the buyer failed to come up with the cash or financing to complete the purchase,” Mr. Young said. “It’s an oddity that it didn’t sell.”
The house will be offered again on Dec. 14 at 2 p.m., this time at absolute auction, meaning there’s no minimum bid and no reserve, said Crye-Leike auctioneer Terry Posey.
The Ohio buyer, who participated in the auction via phone, had pledged to pay $135,000, newspaper records show. The current owner is Bob Carmical, records show.
The successful buyer on Dec. 14 will be required to pay 20 percent down that day, Mr. Posey said, with the remainder due by Dec. 31. There will be a 10 percent auctioneer fee, he said.
The Space House has nearly 2,000 square feet of living space, three bedrooms, two bathrooms, kitchen, living room and large open bar/entertainment area, according to a Crye-Leike statement.
Two additional properties will be sold at the same auction: 140 Hickory St., in Dunlap, Tenn., and 815 Chickamauga Ave. in Rossville.