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PUBLIC REAL ESTATE AUCTION
SMALL BUSINESS ADMINISTRATION
NO BUYER’S PREMIUM
Saturday June 15, 2002 10:00 A.M. and 11:00 A.M.
The following properties will be sold at auction promptly
at 10:00 A.M. and 11:00 A.M. Saturday, June 15, 2002. Please read the
following information and the terms and conditions of the auction in-full.
Auction #1
Saturday, June 15, 2002 10:00 A.M.
Lot 159
On 199th Avenue, South of Medlock Drive
Litchfield Park, AZ 85340
Driving directions to subject property:
From I-10, take the Jackrabbit Exit (199th Ave.) and go north
approx. 4 miles to Medlock Drive. Go West on Medlock ¼ mile to 199th
Avenue. Go South on 199th Ave. to property (auction sign).
Property description:
- AN: 502-70-159-A
- 37,425 square feet/.86 acres
- Lot dimensions: 125 x 299.14 x 125 x 299.66
- 1999 appraised value: $32,000.00
- Starting bid (as per SBA terms): $17,500.00
Auction #2
Saturday, June 15, 2002 11:00 A.M.
Lot 128
On Hammond Lane, East of 131st Avenue
Buckeye, AZ 85326
Driving directions to subject property:
From I-10, take the Miller Road exit (exit 114). South on Miller 50 yards
to Yuma Road (access road). Go east on Yuma 2 miles to Watson Road. South on
Watson Road to Hammond Lane. Go east on Hammond Lane past 231st
Avenue to property (auction sign).
Property description:
- AN: 504-22-166
- 44,015 square feet/1.01 acres
- Lot Dimensions: 196.62 x 217.61 x 208 x 217.52
- 1999 appraised value: $14,500.00
- Starting bid (as per SBA terms): $10,000.00
Terms and Conditions (to be read in-full)
AUCTION INFO: (602) 647-4900
This auction is conducted by Carl Cunningham, Cunningham
& Associates, Inc. Auctioneers (The Auctioneer) in cooperation with Realty
Executives as agent for the Small Business Administration. The auction shall
take place on-site at Lot 159, Litchfield Park, AZ and Lot 128, Buckeye, AZ
on Saturday, June 15, 2002 10:00 A.M. and 11:00 A.M. respectively.
PROPERTY INPECTION: Bidders are encouraged to physically
inspect the property to be sold prior to auction.
This property is being sold "AS IS/WHERE IS" and it is
the responsibility of each Bidder to inspect the property prior to sale and
to satisfy themselves as to the physical condition. Small Business
Administration and Auctioneer assume the Bidders have inspected the property
prior to the auction. This property is offered for sale, unrepaired and
without any expressed or implied warrantees. Auctioneer and Small Business
Administration assume no liability for errors of omissions in the property
listing advertisements of promotional statements and material. Although
information has been gathered from sources deemed reliable, the Auctioneer
makes no guarantees as to the accuracy of the information herein contained.
The Buyer affirms he/she has read and understands the terms and conditions
of the auction and that if there are any risks he/she accepts them wholly as
his/her own and holds the Small Business Administration, Auctioneer, Auction
Company, and Real Estate Broker and Brokerage Firm without blame.
ESCROW AND TITLE INSURANCE COSTS: Buyer to pay all
closing costs on the property. Buyer must be prepared to close escrow within
thirty (30) days. Small Business Administration guarantees free and clear
title to be issued to Successful Bidder.
BIDDERS PADDLE AND REGISTRATION: To obtain a Bidder’s
paddle and participate in the auction, bidders must register and provide the
Auctioneer with cash, cashier’s check or certified funds in the amount of
$1,000.00 made payable to the Bidder. The property is being sold with NO
BUYER’S PREMIUM.
DOWN PAYMENT: The Successful Bidder must provide 10% of
the high bid immediately after being deemed "Successful Bidder" as a down
payment and as a non-refundable deposit. The deposit will be deposited
directly with North American Title Company and must be in the form of cash
or cashier’s check only. Payment-in-full is required on or before Tuesday,
July 16, 2002 5:00 P.M
BACK-UP BIDDER: The Auctioneer may take a back-up offer
from the second highest bidder. The back-up Bidder must purchase the
property at its bid price by 5:00 P.M. of the next business day after being
offered the property. In the event the highest bidder fails to perform as
required, the property will be offered to the back-up Bidder. At the time
all original terms of sale will become the responsibility of the back-up
Bidder including the deposit requirements.
BROKER PARTICIPATION: a 2% of purchase price (high bid)
co-broke will be paid to any properly licensed real estate agent/broker
whose client performs and closes as per auction terms and condition
guidelines. IT IS MANDATORY that all broker/agents register themselves and
their clients a minimum of 24 hours prior to the auction in order to qualify
for the 2% co-broke – NO EXCEPTIONS. Register by faxing Client’s name,
Broker/Agent’s name and company to 480-219-5235.
OTHER CONDITIONS: No Bidder shall offer an advance upon
the previous bid of less than such amount as the Auctioneer may in his sole
discretion direct. In the event of a dispute between Bidders, the Auctioneer
shall make the sole and final decision to either accept a final bid or to
re-offer and re-sell the property in dispute. THE AUCTION WILL BE RECORED
AND THE AUCTIONEER’S SALES RECORDS SHALL BE CONCLUSIVE IN ALL RESPECTS.
CUNNINGHAM & ASSOCIATES, INC.
Realty Executives
CARL CUNNINGHAM (602)-647-4900 |
