SINGLE FAMILY RESIDENCE
RE: Estate of Essie L. Drake
SELLS WEDNESDAY, **TO BE ANNOUNCED**, 2016 AT 12:00NOON AT 1205 LANGDON BOULEVARD, ROCKVILLE CENTRE, NEW YORK 11570
SINGLE FAMILY RESIDENCE
- 1205 Langdon Boulevard, Rockville Centre, New York 11570
- Detached Single Family Cape Cod Style Home
- 1,463 Sq Ft (Finished Area Per Public Records)
- 2 Bedrooms & 2 Bathrooms
- 5,998 Sq Ft Lot (.137)
- Built in 1952 (Estimated)
- Additional Information:
- County: Nassau Section:35 Block: 107 Lot: 280
- Annual Real Estate Taxes: $11,648.18 (2015)
- Occupied (single male 60 yrs old) and will NOT be Delivered Vacant at Closing
- Estimated *Market Value is: $486,552.00
Inspections/Viewings: Access Unavailable.
Auction Date & Time: TBT at 12:00Noon. Registration begins at 11:00 am.
Auction Location: 1205 Langdon Boulevard, Rockville Centre, New York 11570
Terms & Conditions of Sale: Sold “AS IS” WHERE IS” and with free clear of all liens insurable title. In order to register to bid, all prospective bidders must present a bank check in an amount of $50,000. made payable to “American ALA, Inc.”. Closing must occur within 45 days after the auction. Subject to sale prior to auction as pre-auction offers will be considered. Please download the complete Terms and Conditions of Sale.
Buyer’s Premium: A ten percent (10%) Buyer’s Premium will be added to the Successful Bidder’s high bid to determine the contract price to be paid by the Successful Bidder.
Buyer Broker Participation: A two percent (2%) commission will be paid to any properly licensed Buyer Broker who registers a successful buyer in accordance with the Buyer Broker guidelines. Please download the Broker Participation form for details.
INSPECTION/REGISTRATION: 11:00AM DAY OF AUCTION
AMERICAN AUCTIONS, LIQUIDATIONS, APPRAISALS, INC.
516/631.777.7295 / 800.837.0447
MEMBER NAA, NYSAA, ABI, CAGA
This Property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either expressed or implied, concerning the Property is made by the Seller, Auction Company or any of their Agents. The information contained herein was derived from sources deemed reliable, but is not guaranteed. Most of the information provided has been obtained from third party sources and has not been independently verified. It is the responsibility of the Buyer and/or Buyer’s Broker to determine the accuracy of all components of the sale and Property. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the Property, including without limitation, environmental and physical condition of the Property. All prospective bidders are urged to conduct their own due diligence prior to participating in the Public Auction.
Bid rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution.
TERMS AND CONDITIONS OF SALE
Rene Siegfried, POA for Essie L. Drake (“Seller(s)”), by Public Auction, Conducted by American Auctions, Liquidations, Appraisals, Inc. & Related Entities (“AALA”), will Sell the Real Property at Public Auction on ***** 2016.
1. These Terms and Conditions of Sale are promulgated in connection with the Public Auction Sale (the “Auction”) of certain real property and improvements thereon, located at 1205 Langdon Boulevard, Rockville Centre, New York 11570 a/k/a Section: 35; Block: 107 ; Lot: 280 (the “Property”).
2. The purchaser of said real property, will, at the time and place of sale, sign a memorandum of his purchase in accordance with the terms and conditions of sale herein contained.
3. The Auction Sale will be held on *****, 2016 at 12:00 Noon. (the “Sale Date”) at the 1205 Langdon Boulevard, Rockville Centre, New York 11570
4. In order to be permitted to bid on the Property, prior to the commencement of the Auction, each prospective bidder must deliver to AALA a certified check or bank check made payable to “American ALA, Inc.” and in the amount of Fifty Thousand Dollars ($50,000.00) (the “Qualifying Deposit”), which amount shall serve as a partial good faith deposit against payment of the purchase price by such competing bidder as AALA determines to have made the highest or best bid for the Property (the “Successful Bidder”). Within 48 hours after conclusion of the Auction, the Successful Bidder shall deliver to AALA by certified check or bank check an amount equal to 10% of the high bid realized at auction minus the Qualifying Deposit (together with the Qualifying Deposit, the “Deposit”) plus the 10.0% Buyer’s Premium. The ten percent (10.0%) buyer’s premium shall be deemed to have been earned immediately upon the fall of the hammer and is due within 48 hours after conclusion of the Auction. Failure of the Successful Bidder to tender the total minimum deposit of 10% of the high bid at auction and the 10.0% Buyer’s Premium within 48 hours after conclusion of the auction shall result in the immediate default on the purchase and forfeiture of all earnest monies including the buyer’s premium. The Successful Bidder must execute, and thereby agree to be bound by (i) these Terms and Conditions of Sale, and (ii) a Memorandum of Sale. At the conclusion of the Auction, AALA will return the Qualifying Deposits to all unsuccessful bidders.
5. Purchaser is solely responsible to pay AALA the buyer’s premium in the amount of ten percent (10.0%) of the gross sale proceeds. The sum of the high bid at auction and the buyer’s premium is defined as the “Purchase Price”.
6. The Successful Bidder must pay the balance of the Purchase Price for the Property (the difference between the Purchase Price and the Deposit) to the Seller, by certified check, bank check, federal funds or wire transfer. The Successful Bidder must close title to the Property at a date that is no more than forty-five (45) days after the conclusion of the Auction, or *****, 2016 (The “closing”), TIME BEING OF THE ESSENCE as to the purchaser or Successful Bidder.
7. The Closing shall take place at the offices of the attorney for the Seller.
8. The Successful Bidder shall pay any New York City, New York State, or other real property transfer taxes incurred by the transfer of the Property from the Seller at closing. Purchaser acknowledges that they will be responsible for the completion of any ACRIS forms, if required. In connection with the Closing and Closing Date, the Successful Bidder is hereby given notice that Time is of the Essence Against the Successful Bidder and the failure of the Successful Bidder to close for any reason whatsoever (except as otherwise provided below) including its failure to pay the balance of the Purchase Price on the Closing Date, will result in the forfeiture of the Deposit and Buyer’s Premium and the termination of the Successful 1
Bidder’s right to acquire the Property under these Terms and Conditions of Sale. The Successful Bidder shall be obligated to close title to the Property and there is no contingency of any kind or nature that will permit the Successful Bidder to cancel or avoid its obligation under these Terms of and Conditions of Sale other than the Seller’s inability to deliver insurable title to the Property. Further, the Successful Bidder shall have demonstrated, to the satisfaction of AALA & Seller, evidence of its ability to conclude the transaction upon these Terms and Conditions of Sale, without delay. AALA & Seller reserve the right to reject any offer, who AALA or Seller believes is not financially capable of consummating the purchase of the Property. Expenses incurred by the Successful Bidder, or any competing bidder concerning any due diligence, such as obtaining title reports or environmental inspections, shall be the sole responsibility of such bidder, and under no circumstances shall AALA or Seller be responsible for, or pay, such expenses.
9. AALA, Seller, or their professionals have not made and do not make any representations or warranties as to the physical condition, expenses, operations, value of the land or buildings thereon, or any other matter or thing affecting or related to the Property or this Auction, which might be pertinent to the purchase of the Property, including, without limitation, (i) the current or future real estate tax liability, assessment or valuation of the Property; (ii) the potential qualification of the Property for any and all benefits conferred by or available under federal, state or municipal laws, whether for subsidies, special real estate tax treatment, insurance, mortgages, or any other benefits, whether similar or dissimilar to those enumerated; (iii) the compliance or non-compliance of the Property, in its current or any future state, with applicable present or future zoning ordinances or other land use law or regulation, or the ability to obtain a change in the zoning or use, or a variance in respect to the Property; (iv) the availability of any financing for the purchase, alteration, rehabilitation or operation of the Property from any source, including, but not limited to, any state, city or federal government or institutional lender; (v) the current or future use of the Property; (vi) the current or future rents, other operating incomes or expenses; (vii) the presence or absence of any laws, ordinances, rules or regulations issued by any governmental authority, agency or board and any violations thereof; (viii) the compliance or non-compliance with environmental laws and the presence or absence of underground fuel storage tanks, any asbestos or other hazardous materials anywhere on the Property, or notes or notices of violations of law or municipal ordinances, orders or requirements noted or issued by any governmental department, agency or bureau having authority as to but not limited to lands, housing, buildings, fire, health, environment and labor conditions affecting the property. Each bidder hereby expressly agrees and acknowledges that no such representations or warranties have been made. AALA & Seller are not liable or bound in any manner by expressed or implied warranties, guarantees, promises, statements, representations or information pertaining to the Property, made or furnished by AALA or Seller or any real estate broker, agent, employee, servant or other person or professional representing or purporting to represent AALA or Seller unless such warranties, guaranties, promises, statements, representations or information are expressly and specifically set forth in writing by AALA or Seller. The Property will NOT be delivered vacant of tenancies at closing.
10. The Property is being sold “AS IS” “WHERE IS”, “WITH ALL FAULTS”, without any representations, covenants, guarantees or warranties of any kind or nature whatsoever, and free and clear of any and all liens, claims and interests of whatever kind or nature, such liens, claims, and interests, if any, to attach to the proceeds of sale in such order and priority as they existed immediately prior to the Sale Date, and subject to, among other things (a) any state of facts that an accurate survey may show; (b) any covenants, restrictions and easements of record; (c) any state of facts a physical inspection may show; (d) any building or zoning ordinances or other applicable municipal regulations and violations thereof; and (e) environmental conditions. By delivering their respective Qualifying Deposits, all bidders acknowledge that they have had the opportunity to review and inspect the Property, the state of title thereof and laws, rules and regulations applicable thereto, and the form of the Bargain & Sale Deed that Seller will execute to convey the Property, and will rely solely thereon and on their own independent investigations and inspections of the Property in making their bids. Neither AALA, Seller nor any of their representatives make any representations or 2 warrantees with respect to the permissible uses of the Property, including, but not limited to, the zoning of the Property. All bidders acknowledge that they have conducted their own due diligence in connection with the Property, and are not relying on any information provided by AALA, Seller, or their professionals.
11. The Seller shall convey the Property by delivery of a Bargain & Sale Deed. The quality of title shall be that which any reputable title insurance company authorized to do business in the State of New York is willing to approve and insure. If purchaser is unable to obtain title insurance, the Seller may at its option arrange for the issuance of a title insurance policy by such a company at the sole cost and expense of the Successful Bidder.
12. The only commission that will be paid is to the Licensed Real Estate Broker, who registers the successful bidder in accordance with the Broker Participation Agreement and has received confirmation of receipt and acknowledgement of valid registration by AALA.
13. These Terms and Conditions of Sale will be read into the record, or specifically incorporated by reference, at the Auction of the Property. By making a bid for the Property, all bidders will be deemed to have acknowledged having read and understood these Terms and Conditions of Sale and have agreed to be bound by them.
14. The Auction of the Property is subject to confirmation by Seller.
15. AALA shall notify the Successful Bidder whether the Seller confirms the successful bid within 48 hours of the conclusion of the Auction.
16. If the Seller is unable to deliver title to the Property in accordance with these Terms and Conditions of Sale for any reason whatsoever, his and AALA’s only obligation will be to refund the Deposit and Buyer’s Premium, respectively, without any interest, to the Successful Bidder and upon such refund, the Successful Bidder will have no claim or recourse against the Seller, AALA, or their professionals.
I have read these Terms and Conditions of Sale and agree to be bound by them.
By:___________________________ Date: ______________
Print Name: _______________________________________