TERMS AND CONDITIONS – VACANT LOTS A. The real properties are to be sold at auction to the highest bidder, on WEDNESDAY JUNE 24, 2020 at 1:00 PM. The properties will be sold with nominal opening bids as follows: 1. 117 Webster Avenue: Opening bid of $100,000 2. 126 Hamilton Avenue: Opening bid of $50,000 The final price on each property subject to acceptance by the seller and approval by the bankruptcy court. Notice of acceptance shall be given by Wednesday July 1, 2020, unless additional time is required by the seller. Bidding will be made in increments determined by the auctioneer. *Sale subject to a 5% buyer’s premium, per property. B. Bidding: Registration and deposit verification required to bid. A deposit of $25,000.00, per property, in certified check or bank check made out to Peter Costanzo Auctioneers Trust Account is required at registration. At the conclusion of bidding a signed purchase contract is required from the successful bidder. Property sold “AS IS” free and clear of all liens, clear title guaranteed. C. The balance of the purchase price, together with the net amount of any adjustments and changes shall be paid by certified check, cashier’s check or treasurer’s check at time of closing. Closing shall take place within 30 days after approval by the bankruptcy court at the office of the seller’s attorney. Time is of the essence. D. Titles to said properties shall be conveyed by Bargain & Sale Deed which shall be delivered in recordable form. The purchaser shall pay for the recording of the deed. E. Contract is not subject to an attorney review and is legally binding upon signing. There are no contingencies whatsoever In regards to the contract. Contract available for review on web, under “documents”. Properties are subject to withdrawal from auction without notice F. If the purchaser fails to appear at the closing of title or shall appear and refuses to close at the time and place fixed by the parties or shall fail to comply with any of the terms and conditions of the purchase contract the Auctioneer at his option may declare the purchaser in default and retain all money paid as liquidated damages. G. In the event the owner is unable to convey title, the successful bidder shall be entitled only to the return of his/her deposit and the parties shall be mutually released from all of their obligations under the contract of sale. H. The purchaser shall be required to accept the property in its “AS IS” condition on the date of the auction. Purchaser is responsible for all certificate of occupancy and any other required inspections, fees or permits. I. Real Estate taxes shall be apportioned at the closing of title. J. Oral statements made at or before the time of the auction and statements made in any sales brochures, sale catalogue or advertisements in connection with the sale pertaining to location, zoning, taxes, condition, titles, surveys, etc. of the property are for information only and should be verified by the purchasers. Purchasers will be bound by any statement of facts disclosed in current tax maps, zoning maps and ordinances, building restrictions, surveys and other data pertaining to the property. K. Seller has neither employed nor hired any Agent, Auctioneer or salesmen except for Peter Costanzo Auctioneers, Peter Costanzo, Broker of Record, NJ Lic. 8900421 & Jennifer Natoli Executive VP Real Estate Sales Lic. 9806435. L. This sale is for the real estate only. It does not include any personal property whatsoever. However, any personal property left and remaining after the closing, becomes the sole responsibility of the purchaser. Bidder # _____________ Bidder Signature: _________________________________________________ Date: ______________ Time: ____________ PETER COSTANZO AUCTIONEERS PETER COSTANZO LICENSED REAL ESTATE BROKER, LIC. # 8900421 JENNIFER NATOLI EXECUTIVE VP, REAL ESTATE SALES LIC. #9806435 732-776-7222 / 609-693-6899 www.theauctioneersgroup.com

NEW DATE  ANNOUNCED


BANKRUPTCY REAL ESTATE AUCTION

BY ORDER OF EUGENE D. ROTH, ATTORNEY FOR THE CHAPTER 11 DEBTORS, SADDY FAMILY, LLC AND LASV, INC. 

(2) VACANT BUILDABLE LOTS

TO BE SOLD AT PUBLIC AUCTION 

117 WEBSTER AVE: $100,000 OPENING BID

126 HAMILTON AVE: $50,000 OPENING

ALL LOCATED IN SEASIDE HEIGHTS, NJ

BLOCK 13, LOTS 17 & 26

JUNE 24, 2020 AT 1:00 PM!

BEING SOLD ON PREMISES OF THE BAMBOO BAR
201 BOULEVARD - SEASIDE HEIGHTS, NJ 08751

PREVIEWS: JUNE 10TH & 17TH FROM 12:00 PM NOON TO 2:00 PM AND WEDNESDAY JUNE 24TH AT 12:00 PM NOON

AUCTION WILL BE HELD OUTSIDE
IN THE BAMBOO COURTYARD
FOLLOWING ALL SOCIAL DISTANCING GUIDELINES

ONLINE LIVE SIMULCAST BIDDING WILL ALSO BE AVAILABLE
CLICK HERE FOR ONLINE BIDDING

 PROPERTY INFORMATION:

117 WEBSTER AVENUE  

LOCATED DIRECTLY BEHIND KARMA NIGHTCLUB

 

LOT# 17

 BLOCK: 13

 COUNTY: Ocean 

 Zoned: RB (Retail Business)

 Flexible Mixed Use

 Land Desc: 60x100 

(Call Zoning Department for Max Use) 

2019 TAXES: $6,620.40 / BLOCK 13 LOT 17

 

126 HAMILTON AVENUE 

LOCATED NEXT TO THE CLOUD 9 HOTEL

 

LOT#  26

 BLOCK: 13

 COUNTY: Ocean

 Zoned: RB (Retail Business)

Flexible Mixed Use

 Land Desc: 21.5x100

 (Call Zoning Department for Max Use)

2019 TAXES: $2,331.45 / BLOCK 13 LOT 26

LOOK FOR SIGNS. 

ALSO BEING AUCTIONED SAME TIME, SAME PLACE

WEDNESDAY JUNE 24, 2020 AT 1:00 PM!

 

 BAMBOO BAR

KARMA NIGHTCLUB

SEASIDE HEIGHTS LIQUOR LICENSE

  

CLICK "DOCUMENTS" FOR ADDITIONAL INFORMATION INCLUDING BIDDERS PACKET, GENERAL INFORMATION AND TERMS & CONDITIONS

AUCTIONEER’S NOTE: ABSENTEE BID FORMS AVAILABLE UNDER “DOCUMENTS”.  AFTER FILLING OUT FORM, PLEASE CALL US TO START PROCESS. 

 

THE AUCTIONEERS GROUP

PETER COSTANZO / JENNIFER NATOLI

(732) 776-7222   (609) 693-6899

www.theauctioneersgroup.com

 

Notes

**SALE WILL BE HELD OUTSIDE IN THE COURTYARD OF THE BAMBOO FOLLOWING ALL SOCIAL DISTANCING GUIDELINES. ONLINE LIVE SIMULCAST BIDDING WILL ALSO BE OFFERED, PLEASE CLICK THE "ONLINE AUCTIONS" TAB AT THE TOP OF THE PAGE.

Preview

WEDNESDAY JUNE 10, 2020 FROM 12PM NOON TO 2:00 PM

WEDNESDAY JUNE 17, 2020 FROM 12PM NOON TO 2:00 PM.

WEDNESDAY JUNE 24, 2020 FROM 12PM, NOON TO 1:00 PM.

ALL OTHER PREVIEW/INSPECTIONS WILL BE BY APPOINTMENT ONLY.

Payment Info

CLICK "DOCUMENTS" FOR COMPLETE TERMS & CONDITIONS