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1. GENERAL AUCTION INFORMATION:
This auction is being conducted pursuant to Order of The United States
District Court, Southern District of Florida, In Re: Sylvia Oramas, Case
#08-20493-CR-SEITZ.
2. AUCTION TIME AND PLACE: The auction will be conducted on site
Saturday, November 14, at 11:00 A.M.
3. BIDDER REGISTRATION: Bidder registration will begin two hours before
the auction at 9:00 A.M. on Auction Day. All bidders are required to
register with the Auctioneer and must deliver to the Auctioneer a Cashier’s
Check or its equivalent, in the amount of $10,000.00 made payable to
yourself. In the event a bidder is not the Top Bidder, their deposit will be
returned at the conclusion of the auction.
4. CONDITION OF PROPERTY: The property will be sold in As-Is condition
without representations or warranty of any kind, except as being free and
clear of all liens, claims, interests and encumbrances on an All Cash Basis.
Bids made on the property are not contingent upon the approval of financing,
appraisal, post auction due diligence or inspection of the property. Bidders
are encouraged to inspect the property prior to the auction event.
5. REAL ESTATE CONTRACT FORM: The Auctioneer will supply the form of
Real Estate Contract to be used in connection with this auction. The Top
Bidder (s) will be required to execute a Real Estate Contract at the
completion of the auction event. The form of Real Estate Contract will be
available for inspection prior to the auction, however, no other form can be
substituted. A copy of the Real Estate Contract form will also be included
in the Due Diligence Package which supplements the Auction Brochure. Due
Diligence Packages are available by request to National Auction Company.
6. DEPOSITS: The total deposit due from the top bidder on auction day
must equal 10% of the contract price inclusive on the $10,000.00 Cashier’s
Check displayed at the time of bidder registration. Any difference between
the Cashier’s Check and 10% can be paid by personal or corporate check and
is due immediately after the auction. All deposits will be held in a Escrow
Account of the Liquidator, State Wide Financial Services, pending closing.
The remainder of the contract price will be due at the time of closing of
the real estate contract.
7. FORM of AUCTION: The property is being sold
pursuant to a Court Order dated August 12,2009 in connection with The United
States District Court, Southern District of Florida, In Re: United States of
America v. Sylvia Oramas, Case Number: 08-20493-CR-Seitz. The property will
be sold subject to confirmation of the final bid price. Confirmation is
expected immediately after the auction.
8. BUYERS’ PREMIUM: A 10% Buyer's Premium will be added to all top bid
prices and included in the total contract price.
9. DATE OF CLOSING: The closing on the sale of the real estate will be
required to take place as soon as possible but not more than 30 days after
the Auction..
10. CLOSING COSTS: Costs associated with the closing of the sale will be
the responsibility of the purchaser. A Title Insurance Commitment will be
provided which shows the title to the property to be good and insurable at
the expense of the purchaser. Payment for required Documentary Stamps to
record the deed will be the responsibility of the purchaser. Real estate
taxes for the current year will be prorated to the date of closing.
11. REAL ESTATE BROKER PARTICIPATION: We welcome the participation of
other real estate brokers and their associates. A fee equal to 20% of the
compensation approved by The United States District Court to National
Auction Company and State Wide Financial Services will be paid to any duly
Florida licensed real estate broker or their associates who register a
prospective purchaser who purchases the property included in this auction
event. Licensed real estate brokers and their associates must register their
prospects with National Auction Company, in writing and received no later
than 5:00 P.M., November 13 at the office of National Auction Company, 1325
S. Congress Avenue, Suite 202, Boynton Beach, Florida 33426. Broker
Registrations can also be sent via facsimile to (561) 364-8803. Oral
registrations and registrations made via e-mail will not be accepted.
Brokers and their associates who register prospective bidders must attend
the auction with their prospect and be present at the time of Bidder
Registration.
12. CONDUCT OF AUCTION:
a. This auction will be conducted in accordance with the Court Order
issued by The Honorable Patricia A. Seitz, U.S. District Judge, of The
United States District Court.
b. Bids will only be accepted from Bidders who have registered in accordance
with the Terms & Conditions of Sale.
c. In the event of tie bids or disputes between bidders, the Auctioneer will
make all final determinations and his decision will be final. The auction
will be video and/or digitally recorded to provide a record of the events.
d. Bidders should rely upon their own inspection of the property, public
records and judgment. All information provided by National Auction Company
was taken from information that is believed to be accurate, however, it is
not guaranteed. All measurements, stated square footages, zoning or other
information is not guaranteed and is provided for the convenience of
bidders.
13. PREVIEWS: The property will be available for inspection on Friday,
November 13, from 10:00 A.M. to 5:00 P.M. and two hours before the start of
the auction event. In addition, the property can be shown by special
appointment. Call the Auctioneer to schedule.
14. AUCTIONEER CONTACT INFORMATION: If additional information is needed,
please contact George Richards at National Auction Company (800) 659-7004;
(954)658-5033 or grichards@natlauction.com.
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