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- 24,000 SQ. FT. ON 1.7 ACRES
- 4,000 SQ. FT. LEASED @ $33,000 ANNUALLY
- APPRAISED AT $750,000 (11/02)
- GARAGE WITH AUTOMATIC DOOR
- NEC 2000 PHONE SYSTEM
- CARD READER SECURITY SYSTEM
- ADA COMPLIANT
- VOICE & DATA WIRING WITH LAN ROOM
- ZONED C-1, OFFICE & SERVICE BUSINESS DISTRICT
FOR DETAILS ON THIS PROPERTY, COMPLETE TERMS AND CONDITIONS, AND INSTRUCTIONS FOR SUBMITTING A BID, CALL 1-877-781-1134, A BIDDER PACKET WILL BE EXPEDITED TO YOU
SEALED BID AUCTION PROCEDURES & TERMS
SEALED BID AUCTION FORMAT: This is a sealed bid auction. Conforming bids must be made on the Purchase and Sale Agreement included in the bidder packet. Bid must be received by the published deadline. Any bids received after the deadline will be returned unopened and will not be valid for consideration by the Seller. A “Buyer’s Premium” of 10% should be factored into the purchase price when completing the Purchase & Sale Agreement. (Bid + 10% B.P. = Purchase Price)
BIDDER’S INFORMATION MATERIALS: A Bidder Pack including detailed information on the property and forms required for bid submission is available by calling 1-877-781-1134. Certain information has been supplied to prospective buyers to assist in consideration of the property. Bidders must independently verify any and all information supplied, and the Seller, Broker, Auctioneer, and Brokerage Companies are not responsible for any omissions, incorrect information, or opinions of third party experts and consultants. Property is sold AS IS.
BANKRUPTCY COURT APPROVAL: Seller’s acceptance of the high bid is subject to final approval by the United Stated Bankruptcy Court for the District of Delaware, presiding over the bankruptcy cases of Birch Telecom, Inc., and its subsidiaries entitled In re Birch Telecom, Inc. et al, Case No. 05-12237 (PJW).
CONSIDERATION OF BIDS BY THE SELLER: Seller and Bankruptcy Court have the sole discretion to consider all bids. During the consideration period, Seller has the right in its sole discretion to reject any or all bids. All bids rejected by the Seller during this period will be returned to the bidders, along with accompanying deposits. Should Seller wish to accept the high bid, it will submit such to Bankruptcy Court for approval. Written notification of final approval or rejection will be provided to the high bidder immediately following the Court’s decision. Until written notification is received, all bids remain non-revocable.EARNEST MONEY DEPOSIT, TERMS, & CLOSING: Each bidder shall make a non-refundable earnest money deposit of $25,000 accompanying the offer. Deposits must be in the form of a cashier’s check made payable to Thomson Title Company. The auctioneer will hold these down payment checks until a successful bidder is chosen, and upon notification of the successful bidder, the Auctioneer will deposit the successful bidder’s check in escrow. (Checks and agreements will be returned to all non-winning bidders as described above.) The balance of the purchase price is due at closing. Financing is not a contingency of sale in this offering. If purchaser cannot obtain financing, then purchaser must either close for cash within the contractual period or forfeit his/her earnest money deposit.
BROKER PARTICIPATION: A commission of 2% of the successful high bid shall be paid to the qualified broker who is duly licensed in Kansas, whose properly registered client is the successful bidder, and whose client pays for and settles on the property by the closing date. A broker shall not be entitled to any commission on account of any sale to entity of which the broker is a principal, employee, immediate family member, or affiliate. Brokers must register their prospective clients on the appropriate form by contacting Cates Auction & Realty Co.. Forms must be submitted by fax and received no later than Monday, February 20, 2006.