PUBLIC SALE AT AUCTION BY ORDER OF BOROUGH OF SOMERVILLE, SOMERSET COUNTY, NEW JERSEY
PLEASE TAKE NOTICE that on October 12, 2022 prevailing time, the Borough of Somerville will conduct a public auction of the following properties no longer needed for any public purpose:
106 Veterans Memorial Drive East, known as Block 58 Lot 25
The public auction of this property will take place online beginning Monday, October 10, 2022 at 9 am prevailing time and close on Wednesday, October 12, 2022 at 11am prevailing time.
The auction will be conducted virtually. Anyone wishing to participate in the auction must register in advance at: www.maxspann.com.
All bidders must be pre-registered. A $7,500 deposit must be placed into Max Spann Real Estate & Auction Co. escrow account 24 hours prior to bidding conclusion time. Auction Co. is not responsible if notification of bank transfers or deposits is received after the auction concludes. I understand that if I am the High Bidder and fail to submit my full deposit as required within the time frames outlined, a Default Fee of $ 7,500 will be charged and will be non-refundable. If you are not the high bidder said deposit will be promptly returned. High Bidder is required to deposit the balance of the 10% of the total contract amount into the escrow account by end of business day. The high bidder is required to enter into an Agreement of Sale immediately at the end of the auction. The Successful Bidder shall not be permitted to withdraw his/her/its bid. A 10% Buyer’s Premium will be added to the bid price and become the final Contract Price.
The property is being auctioned are being sold in “as is” condition. The Borough of Somerville does not make any representations or warranties as to the condition or value of the property or their suitability for any particular use.
All sales are subject to final approval of the Borough of Somerville. The highest bid may be accepted or any and all of the bids may be rejected.
For more information, bidders may contact Max Spann Real Estate & Auction Co. at 888-299-1438 or www. Maxspann.com.