|  SEALED BID AUCTION!
IN FORECLOSURE
***Approx 3.8 Acres - Zoned R3**
Encinitas, CA!
Sealed Bids Due by:
March 14 at 5:00 PM / PST
Property Address:
556 Union St.
Encinitas, CA 92024
Auction previews:
by Appointment!!
Great Investment!
*Approx 3.8 Acres!
*Close to Beach *Adjacent to I-5
*Zoned R3
Appraised for $3,650,000 in 2006 |
Minimum Bid $1,900,000
SELLER WILL CONSIDER ALL BIDS!!
556 Union St, Encinitas, CA 92024 - Parcel #’s 256-171-20, 21 & 24
SEALED BID TERMS OF SALE:
BID RULES: - All sealed bids must be received by 5pm Pacific Time on Wednesday, March 14, 2007 (the “Submission Deadline”), at the Pacific Auction Exchange of San Diego, 13278 Luckett Ct, San Diego, CA 92130. All bids must have a complete return address on the outside of the envelope. All bidders must also submit a signed and completed “Bid Package Receipt” form. All bids are irrevocable until 5pm Pacific Time on Friday, March 16, 2007.
- You must submit your bid on the approved, Pacific Auction Exchange Auction Purchase Agreement available in the Bidder’s Package. Altering the Auction Purchase Agreement in any way may cause your bid to be disqualified.
- The bid must include a cashier’s check (non-refundable if you are declared winning bidder) in the amount of $60,000 (Sixty Thousand Dollars) payable to: Pacific Auction Exchange of San Diego – Trust Account.
- A premium (the “buyer’s premium”) equal to ten percent (10%) of the winning bid will be added to the winning bid and placed in the final Auction Purchase Agreement to determine the total purchase price.
- The earnest money must be increased by the winning bidder to ten percent (10%) of the total purchase price by personal or business check (NON-REFUNDABLE) immediately after he/she has been declared the winner.
- SELLER WILL CONSIDER ALL BIDS. Seller has set a published reserve price (excluding the buyer’s premium) of $1,900,000. If two or more bids are determined to be equal in price, then Pacific Auction Exchange of San Diego reserves the right to request a best and final bid from those bidders.
BIDDER’S INFORMATION PACKAGE: A package of information has been assembled for each property and includes a Preliminary Title Report, Natural Hazard Disclosure Report, Auction Purchase Agreement, and other information. Bidder’s are required to obtain and review a Bidder’s Package prior to submitting their bid. CLOSING: Closing will take place on or before April 24, 2007. A Grant Deed will be supplied by the seller at the seller’s expense, giving marketable title subject to restrictions of record. Taxes are prorated.
CLOSING: Closing will take place on or before April 24, 2007. A Grant Deed will be supplied by the seller at the seller’s expense, giving marketable title subject to restrictions of record. Taxes are prorated.
PROPERTY INSPECTION: Preview of the property is essential. The property is being sold for all cash, on an “AS IS, WHERE IS” basis, “WITH ALL FAULTS, IF ANY,” with NO CONTINGENCIES. Property will be sold subject to easements, restrictions, zoning and other matters of record. Your inspection, including your agents’ and consultants’ inspection of the property must be completed prior to your submittal of the bid. For additional terms of sale, see the Auction Purchase Agreement in the Bidder’s Package.
CONDUCT OF AUCTION: Conduct of the auction is at the discretion of Pacific Auction Exchange of San Diego Broker ID #01499312. Bond #FS7011648.
BROKER PARTICIPATION INVITED: Subject to Pacific Auction Exchange of San Diego guidelines. A licensed real estate broker whose prospect pays and closes on the property will be eligible for a fee of 2.5% of the winning bid. Broker’s must register no later than Monday, March 12, 2007. Contact Pacific Auction Exchange of San Diego for a Broker Participation form.
NO CONTINGENCIES: Purchase of property is NOT SUBJECT TO ANY CONTINGENCIES.
AGENCY DISCLOSURE: It is understood that PAX of SAN DIEGO is acting in the capacity of real estate broker on behalf of the seller. The seller and PAX of SAN DIEGO have executed a listing agreement which provides for the payment of a commission to PAX of SAN DIEGO upon the sale of the real property.
All information in this brochure was derived from sources believed to be correct, but is not guaranteed. ALL PROPERTY MEASUREMENTS ARE APPROXIMATE. It is the Buyer’s responsibility to verify all property specifications prior to the auction date. PAX of SAN DIEGO IS AN AGENT OF THE SELLER. THE INFORMATION CONTAINED HEREIN IS FROM SOURCES BELIEVED TO BE RELIABLE BUT BIDDER IS RESPONSIBLE FOR VERIFYING ALL FACTS. NEITHER SELLER NOR BROKER ASSUMES LIABILITY FOR ANY INACCURACIES. The seller reserves the right to cancel or withdraw properties from the auction without prior notice. Property subject to prior sale.
|
