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Auction of Public land
Listing Number: 27800184 | Ewing, NJ US | NJ DOT Right of Way Excess Land 1 Seller's Other Auctions
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Terms and Conditions.pdf
Auction Ended:
Final Bid:
$128,000.00
Bids:
124 Bids
Auction Details
| Starting Bid: $44,000.00 | |
| Current Price: $128,000.00 | |
| Buy Now Price | $0.00 | No Reserve Available for immediate purchase. |
| Buyer's Fee: 7.00% - 5.00% |
| Start Date | |
| End Date | [Extended] |
| Bid History | 124 Bid(s) |
| High Bidder | Israel12345 I*********5 |
| Page Views | 4668 |
Payment Details
The successful bidder will have up to 60 days from close of the auction to conduct their due diligence, thereafter, the successful bidder must deposit their winning bid within 5 days of the end of the inspection period. The Seller may grant an extension for cause. The buyer may request to cancel the bid only if the due diligence reveals an undisclosed condition which substantially and unreasonably impacts upon the value of the Property being conveyed. The next highest bidder MAY be offered the opportunity to purchase at their highest bid, subject to these terms and conditions. Payment is accepted by Muncibid.com in the form of Electronic Fund Transfer, Wire Transfer, and Certified Payment (Certified Check, Cashiers Check, or Money Order). Please note: It may take 2 to 3 days to process your payment once it is received. For full payment instructions please visit www.municibid.com/pay
Item Description
The New Jersey Department of Transportation will sell the parcels of land noted below at a public auction. The auction may be viewed and bid on at any time prior to its closing, which will occur at 5:00 P.M. Eastern time on August 5, 2020. The auction is hosted on www.Municibid.com Auction #27800184. The property is identified as Route: University Heights Connector, Parcels VX561B, VX562B and VX563B, located at 70-74 1st Street, in the City of Newark, Essex County, also known as Block 1879, lots 18,19, and 20. The property was acquired as part of highway right of way, consisting of approximately 0.117 acres (5,092 square feet). The property is being sold without approvals. The site is currently vacant. The propertyzoning is R-3 Residential Zone. This description does not constitute a full legal descriptionof the premises. The full legal description can be found in Essex County records for the deed(s) on file with the county. the property may not be used for display or erection of commercial billboards, signs, devices or advertising displays and may not be used for storage of salvaged materials or as a junk yard.
The Property will be sold subject to a minimum starting bid of $44,000.
Information concerning the auction, including maps, description and additional terms and conditions is available at www.municibid.com, Auction # 27800184. By Patricia Larkins, Property Management Section Supervisor, on behalf of Diane Gutierrez-Scaccetti, Commissioner of Transportation.
Additional information on this Auction
| Custom ID | University Heights Connector, Parcels VX561B, VX562B and VX563B | |
| Will Item results be voted on | No | |
| Will you ship this item | No. Pickup only. | |
| In person item inspection information | 70-74 1st Street, Newark, NJ |
Questions/Answers Ask the seller a question about this auction.
You must be signed in to ask and answer questions.
Q: |
"Is the property located in Newark or Ewing?
Why does the location at the top of the auction by the map symbol say "Ewing," when the map documents and all other info says that the property is in Newark?
Thank you." - Asked by #29441062 07/28/2020 11:40 AM |
A: |
|
Item location This location is a general area based on the sellers zip code. It is not the specific address where the item is located.
Our Buyers Fees
With Municibid, pricing is clear, up-front and transparent. A buyer's fee (% of the winning bid amount) will be charged directly to the winning bidder upon the close of each auction via the credit card you entered prior to placing the bid. You pay the selling agency directly for the full cost of the item. (unless otherwise noted)
All Buyers fee's are aggregate unless otherwise noted. This means after you cross certain price thresholds you will pay a different buyers fee for the remaining amount. See below for an example.
Example:
If buyers fee is 8% for bids up to $99,999.99, 5% for bids $100,000 - $499,999.99, and 4% for bids over $500,000.
- Winning bid: $50,000: = Buyers fee: $4,000 (8% of $50,000).
- Winning bid: $150,000: = Buyers fee: $10,500 (8% of $100,000 = $8,000) + (5% of $50,000 = $2,500).
- Winning bid: $550,000: = Buyers fee: $30,000 (8% of $100,000 = $8,000) + 5% of $400,000 = $20,000) + (4% of $50,000 = $2,000).
Where can I see what the buyers fee is?
The current buyers fee will always be shown on the page of the listing under the current price in both the bid area and auction details area. You will also see the buyers fee amount you will pay for your entered bid on the page where you confirm your bid.
What if the selling agency rejects my bid?
If the government agency rejects your bid (they reserve the right to do so) your buyer's fee will be returned, in full, to you within 5 days of notification to Municibid of the rejected bid by the governing body.
Bidding Increments
Please Note: Bid increments automatically adjust based on the level of the current bid. The increments are as follows:
| If amount is greater than or equal to | The bid increment will be |
| $0.00 | $1.00 |
| $100.00 | $10.00 |
| $500.00 | $25.00 |
| $1000.00 | $50.00 |
| $2500.00 | $100.00 |
FAIR WARNING ALL SALES ARE FINAL. You are legally obligated to pay for your item per the terms of the seller if you are the high bidder at the close of auction. If you do not pay for your item, you will not receive a refund of your buyer's final sale fee, you will no longer be permitted to bid on municibid.com and will be subject to a penalty of 40% of the winning bid amount. If your credit card is declined for insufficient funds, you will be charged a $50 fee.