BANK OWNED REAL ESTATE
LIVE PUBLIC AUCTION
SATURDAY, FEBRUARY 20TH, 12:00 NOON
PARTIALLY BUILT 6,160 SQ FT LUXURY HOME WITH SPECTACULAR VIEWS:
FOREMASTER RIDGE LOT 514: 332 SOUTH EASTRIDGE DR., ST. GEORGE, UTAH 84790
No Minimums, No Buyer's Premiums - High Bid Subject to Seller's Approval
AUCTION TO BE HELD AT STATEWIDE AUCTION COMPANY'S FACILITY:
5099 W WHEELER WAY, HURRICANE, UT 84737
$10,000 Bidder Deposit Required To Bid (to be returned immediately to unsuccessful bidders)
Description of Property:
Residential Lot with Partially Built Luxury Home
Address: Foremaster Ridge Lot 514 - 332 South Eastridge Dr., St. George, Utah 84790
Lot Size: 0.46 Acre
Original Building Plans Available For 6,160 Sq Ft Luxury Home - Click Here to View:
See Complete Bidder Terms and Additional Detail Below...
Bidder Terms & Auction Detail (additional terms, revisions & modifications may be added)
1. Auction. The Auction is scheduled to take place on Saturday, February 20th, 2016 and will begin at 12:00 (Noon). It is to be conducted at Statewide Auction Company’s Auction Facility located at 5099 West Wheeler Way in Hurricane, Utah. The Auction Sale is subject to Seller Approval.
2. Preview. Inspection of the Property’s exterior and surroundings is permitted to take place at the convenience of prospective bidders.
3. Seller. The seller of the real property is Cache Valley Bank.
4. Property Information. The Property to be sold at the Auction is identified as “Foremaster Ridge Lot # 514” with an address of: 332 South Eastridge Drive, St. George, Utah 84790. Interested parties may obtain information about the Property by visiting www.StatewideAuctionCo.com or by contacting Statewide Auction Company at (801) 521-5600. Prior to the Auction Sale, prospective bidders are encouraged to inspect the Property, review available reports, plat maps, surveys, etc…
5. Condition. The Property shall be sold as is, unrepaired, WITHOUT WARRANTY, EXPRESS OR IMPLIED, as to any matter. Prospective bidders rely solely on their independent investigation in purchasing the Property, including physical inspections and inspection of documents. Successful bidders will release Seller from all claims and liabilities regarding the environmental condition of the Property.
6. Registration and Deposit. To obtain a bidder’s card, a deposit in the amount of $10,000 is required at the time of auction and shall be applied to the purchase price at the time of closing. This deposit is to be in the form of a cashier’s check made payable to Statewide Auction Company and will be refunded to unsuccessful bidders on the day of the auction. In the event that the winning bidder's offer is not accepted by the Seller, the deposit shall be promptly refunded. Each bidder making a deposit shall be bound by all the terms of the Auction Sale.
7. Bid Procedure. Seller shall conduct the Auction Sale through Statewide Auction Company. Bids must be for payment in full at the closing by certified funds or upon approval, the Seller may offer financing. Upon bid receiving acceptance, the successful bidder must sign an obligation agreement confirming the bid. The successful bidder will then be required to submit an additional $15,000 down payment to Statewide Auction Company within (2) business days following the auction. The successful bidders’ deposit shall then become nonrefundable, except upon Seller’s default.
8. Phone & Internet Bidding. Bidders may participate in the Auction Sale via telephone or via internet by pre-registering and submitting their bidder deposit of $10,000 at least one day in advance of the Auction. Pre-registered Bidders will be provided a telephone conference phone number, pass code, and instructions for bidding via telephone. Instructions for bidding online will be made available at www.StatewideAuctionCo.com.
9. Closing. Southern Utah Title will handle the closing and issuance of title insurance. Closing is to take place within (30) days of the Auction Sale.
10. Backup Purchasers. The second place bidders of the Property will be recorded as the “Backup Purchaser” should the first place purchaser fail to close for any reason.
11. Liens. The Property will be sold free and clear of liens.
12. Property Taxes. Property taxes will be shared on a pro rata basis between the Seller and purchaser.
13. Title Insurance. The Seller will provide owner’s title insurance policy.
14. Property Transfer. At the closing, the seller shall convey the Property via Special Warranty Deed.
15. Broker Commission. A commission of 2% of the total purchase price may be made available to a Licensed Real Estate Agent/Broker who registers the successful bidder.
16. Governing Law. This agreement shall be governed by, construed and enforced in accordance with the laws of the state of Utah.
17. Disclaimer. Statewide Auction Company and Seller have obtained information about the Property from sources that they deem to be reliable, however, they make no warranties as to the accuracy of, and disclaim all liability for errors or omissions in, advertisements, brochures or other promotional statements and materials relating to the Auction Sale. The terms of the announcement made by the Seller at the time of the Auction Sale shall take precedence over all such materials.
18. Modification of Terms. In the Seller’s sole discretion, the Seller may postpone or cancel the Auction Sale; and in the Seller’s business judgment, may modify the terms and conditions of the Auction Sale. The Seller reserves the right to accept or reject bids.