Oregon home bargains up for auction: Remote land and a log house

Bidders looking for a bargain will submit offers by July 10 for a custom log home, a certified organic farm and about three dozen other properties up for auction in Oregon, Washington and California.

John Rosenthal, president of Realty Marketing/Northwest of Portland, which is handling the auction, said in a news release, “There appears to be significant liquidity for purchasing real estate due in part to the extension for reinvestment of 1031 funds due to Covid-19 and historic low interest rates.”

A few properties among the lots are being offered with no minimum bid, which means someone could theoretically win with a $1 offer for an 80-acre Paradise Mountain Recreation tract in the Fremont-Winema National Forest in Klamath County, if that’s the highest bid.

Typically, though, a potential buyer has been given incentives to start the bidding at a reasonable figure.

A published reserve price means the seller can reject any lower bid, counter the offer or accept the offer.

Every successful bidder also pays closing costs such as escrow fees, back taxes and broker commissions.

Buying a house at auction is unlike a typical real estate transaction. An agent doesn’t write up an offer. The property can include furnishings and movable structures.

Bidders are to conduct their own research and due diligence before making an offer. Some of the “as is” properties are being sold for cash while others can be financed before the deed changes hands.

Not all auction properties are owned by a bank or lender. Traditional sellers seeking an alternative marketing strategy also call in auctioneers.

Each auction has its own rules, terms and conditions but all require preregistration and a deposit.

Here’s what is up for auction by Realty Marketing/Northwest:

Private estate outside of Sandy: A Christmas tree farm along the historic Barlow Trail, 10 minutes from Sandy, has a published reserve for each of two parcels: $675,000 for 125 acres of timber plus a manufactured home and $835,000 for 107 acres with a manufactured home and 3,000-square-foot shop on exclusive farm use land.

The property includes Devil’s Backbone Ridge, used by immigrants on the final stretch of the Oregon Trail into the Willamette Valley.

“The tree farm could be used as a private estate,” according to the catalog copy, with “the opportunity to construct an owner residence with views of Mount Hood and equestrian facilities.” Sealed bids for 43815 S.E. Herrick Road are due by 5 p.m. July 10.

Log house in Poe Valley: The 464-acre gated estate 25 minutes from Klamath Falls has a custom, two-story house, constructed by the former Alpine Log Homes of Montana. There is a great room with a double-sided stone fireplace, four bedrooms, four bathrooms and 4,760 square feet of living space.

A large covered deck offers views of the valley, landscaped grounds and irrigated pasture. There is also a fish pond plus a 2,245-square-foot shop with roll-up doors that can accommodate an RV, five-stall horse barn…