IMPORTANT NOTICE REGARDING THE ABSOLUTE BANKRUPTCY AUCTION OF STOKESAY CASTLE

The financial institution that holds the mortgage has advised us on Thursday, March 26 that they will NOT be bidding for the property at the auction to be conducted on Monday, March 30 at 2:00 PM.
Notice: please note
the changes to Paragraphs 2, 6, 13 and 23 of the Agreement of Sale,
posted 3/27.
COURT ORDERS
Stokesay Castle
TO BE SOLD

ABSOLUTE AUCTION
The Renowned Stokesay Castle on 10± Acres

15 mi W of Pottstown, suburban Reading
Lower Alsace Township

43,000± sq. ft., 850-seat banquet hall and intimate dining rooms with seating for approximately
150 patrons
Address:
141 Stokesay Castle Lane,
Berks County, PA 19606
off of Spook Lane

Real Estate, Kitchen Equipment, Furniture, Name, and Goodwill — To Be Sold Only In The Entirety. A fine custom three-bedroom home on the property is also included in the Entirety.

Liquor License sold separately — $5,000.00 Bank Cashier’s Check deposit. Balance by personal check

A unique property with enormous possibilities. Property is zoned residential. Continued use of the Castle as a banquet/restaurant lodging facility or a grand estate home is permitted. Changes in the future use of the Castle, such as Institutional, educational, medical, senior care or residential subdivision, would have to be approved by Lower Alsace Township. The sale of this property is not subject to a change of use. We suggest that you review your desired usage of the property with the Township prior to the Auction.

Stokesay Castle (click here for their original website) was built as a magnificent estate home and was later used as a fine dining restaurant with luxurious, intimate dining rooms. A separate 850-seat banquet hall was later added. The Castle’s quaint dinning rooms serve approximately 150 patrons at a time. Stokesay Castle was in great demand as a wedding banquet location, and the owners are still receiving request for wedding banquets. The Castle is no longer in operation. Additional rooms in the Castle were at one time used for lodging.

This spacious facility, on 10± acres, has plenty of parking and is surrounded by woodlands that provide a lovely, secluded setting.

The present owners had to close the facility in January 2007 due to serious personal health issues. The interior of the building has had water damage and needs repair and decorating. Those parties interested in bidding for the property should bring their interior building repair professional with them on preview days. Also bring a spot light or a large flashlight.

Stokesay Castle is located less than a one hour drive from suburban Philadelphia. It is about 30 miles southwest of Allentown, and 15 miles northwest of Pottstown. It is less than two hours from New York City.

A second house, at 142 Stokesay Castle Drive, is available by private sale.

• Photo Gallery

Due Diligence
To be posted

• Agreement of Sale
  Paragraphs 2, 6, 13 & 23 to the Agreement of Sale have been revised and the revised Agreement has been posted.
  [9 pg PDF 44KB posted 03/27]
• Bill of Sale for Liquor License
  [2 pg PDF 17KB posted 03/05]
• Copy of Liquor License Renewal Application filed with the Commonwealth of Pennsylvania
  [2 pg PDF 105KB posted 03/19]
• Plot Plan
  [1 pg PDF 132KB posted 02/18]
• List of furniture and equipment to be included with the sale of the property
  [2 pg PDF 12KB posted 03/26]
• List of items to be sold by the piece
  [1 pg PDF 8KB posted 02/20]
• Some Personal Property Photos
• Description and photos of the custom home (142 Stokesay Castle Drive)
  [2 pg PDF 640KB posted 02/14]
• Seller’s Disclosure Statement
  [5 pg PDF 482KB posted 03/19]
• Castle and Gate House Interior Features
  [1 pg PDF 9KB posted 02/18]
• History of Stokesay Castle
  [1 pg PDF 9KB posted 02/18]
• Letter of Use from Alsace Twp.
  [1 pg PDF 26KB posted 02/17]
• Brochure

---

• Description of second home, 142 Stokesay Castle Drive, available at private sale>
  [1 pg PDF 9KB posted 03/20]
• Photo of the home
  [1 pg PDF 198KB posted 02/14]

Links

• Berks County Home Page
  [opens in new window]
• Directions to Stokesay Castle
  [opens in new window]
• Lower Alsace Township Home Page
  [opens in new window]

*You will need to have Adobe Reader installed to view these PDF documents. Download Adobe Reader

Weather Conditions
Auction held rain or shine. If the Auction is cancelled due to very severe weather conditions, the Auction will be rescheduled. The cancellation notice will be posted on our website the morning of the Auction. A new Auction date will be posted on our website, and an email notice will be sent out to those who have registered on our website. You may also call 215-799-0655.

Check back to this location often for updates, revisions, or changes.

• IMPORTANT NOTICE REGARDING THE ABSOLUTE BANKRUPTCY AUCTION OF STOKESAY CASTLE: The financial institution that holds the mortgage has advised us on Thursday, March 26 that they will NOT be bidding for the property at the auction to be conducted on Monday, March 30 at 2:00 PM. Added 3/27.
• Notice: please note the changes to Paragraphs 2, 6, 13 and 23 of the Agreement of Sale, posted 3/27.

Auction on Premises
Auction held at the property on Monday, March 30 at 2:00 PM. The entire Auction will be conducted in the fine home that is included with the property.

Previews
Previews: Monday & Thursday, March 23 & 26, 1:00 to 3:30 PM.

When you drive in the driveway, stop at the second house on the right. Here you can get additional information about the property. The Auction will also take place in this home. This is the home that is included in the Auction.

Taxes
$62,000 Annual Real Estate and School taxes

Terms

Total Deposit
Total deposit 15%. See below for guaranteed portion of the deposit.

Guaranteed Deposit
A good faith registration deposit in the amount of $50,000 in the form of bank cashiers check or certified check (made payable to yourself) or cash is required to register to bid at the time of the Auction and will be credited towards the total 15% deposit. The remainder of the 15% deposit may be paid by personal check. Seller reserves the right to accept other forms of payment. The amount of the guaranteed deposit is not based on the value of the property.

On-Site Bidder Registration
Begins one hour prior to the Auction.

Buyer's Premium
There is a Buyer’s Premium for this Auction.

Absentee Bidding by Telephone
Arrangements by signed agreement of sale and guaranteed deposit must be made with the Traiman office no later than one week prior to Auction.

Minimum Opening Bid
There is no minimum opening bid.

Property

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Real Estate Brokers & Agents Invited —
Registration Form
Earn a 1% commission. You must be the one who introduced this property to your buyer client and verify same by affidavit at settlement and accompany your client to any of the previews and Auction. Register your buyer no later than 48 hours prior to the Auction by Traiman's form including your client's signature. Agents buying for themselves or family members are not eligible to collect a commission.Download registration form and guidelines (2 page PDF).

First time Auction attendees
The open public Auction method is where the parties who are interested in bidding on the property gather as an audience and bid in an open public forum. You will be asked to register at the time of the Auction. Before the bidding begins the Auctioneer will review the terms of the Auction and explain how the bidding will occur. Most people bid by raising their hand. The Auctioneer calls out the numbers in a clear understandable cadence. Our intention is to make you feel comfortable with the process before you enter the bidding. You need not be represented by a Real Estate Broker to bid and buy at Auctions.

We suggest that you contact a mortgage company or bank prior to coming to the Auction for the purpose of determining how much of a mortgage you will qualify for. If you are the winning bidder and cannot obtain a mortgage, or for some other reason are unable to complete settlement the total amount that you deposit will be forfeited.

The property is being sold subject to good and marketable title and free and clear of all liens and encumbrances in accordance with the Agreement of Sale. Please review the Clear of Liens and Encumbrances Clause of the Agreement of Sale.

Notice
The information used for the advertising of this property may not be accurate. Measurements, figures, and drawings are approximate. Interested parties must do their own research and are not to rely on any information provided by the seller, the Auction Company, or their representatives. The Agreement of Sale takes precedence over any advertising or oral or written announcements. Auctioneer represents the Seller, not the Buyer. Auctioneer reserves the right to reject bids that the Auctioneer deems inadequate. If you have a question during the Auction, please notify an Auction staff member for a private conversation. Seller and the Auction Company reserve the right to have parties escorted from the premises for soliciting other bidders or for other reasons deemed inappropriate. Information contained herein is subject to change.

Questions regarding this Auction
A Traiman representative will be at the preview to answer questions. You may also email your questions to info@traiman.com. Or call 215-799-0655. Reading the Agreement of Sale when it is posted may answer your questions.

Property information may change daily and this is your notice that it may contain certain mistakes. Neither Traiman nor seller will be held liable for errors or omissions. If you see an error, please notify us immediately.

Good Luck!