Invitation for Upset Bids

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The Board of Commissioners of Guilford County has received an Offer to Purchase for property owned by Guilford County and located in Greensboro, NC in the amount of: $ 1,800,000.00 and being more particularly described as follows:

A .71-acre tract of land with building located at 232 N Edgeworth Street in Greensboro NC.  Property is designated as Guilford County Tax Parcel No. 001806.

A Minimum Bid of $1,890,050.00 must be accompanied by a bid deposit equal to 5% of the increased bid (deposits must be in the form of cashier’s check or money order). NO OFFER WILL BE ACCEPTED WITHOUT A BID DEPOSIT IN THE FORM AND AMOUNT INDICATED ABOVE.

The property is being offered for sale, through the negotiated offer, advertisement, and upset bid procedures prescribed in N.C.G.S. 160A-269 (sealed bids).

In addition to meeting the minimum bid amount any upset bid must meet or exceed the terms of the original offer, found below.

Exhibit A

Exhibit B

Agreement for Purchase

The County will accept sealed upset bids in the Office of the Clerk to the Board, Guilford County, 301 West Market St, 2nd Floor Greensboro, NC 27401, no later than ten (10) days of the date of this notice. All eligible bids must be received no later than December 20, 2019 at 5:00 pm, at that time the Clerk to the Board will open the received upset bids, if any, and the highest qualifying bid will become the new offer that is then advertised. If there is more than one bid in the highest amount, the first received will be become the new offer.  A qualifying bid must be accompanied by a bid deposit of at least five percent (5%) of the amount bid. The deposit shall be made in the form of cashier’s check or certified check. The County will return the deposit on any bid not awarded by the Board of Commissioners.

The Board of Commissioners will approve the final high offer before the sale is closed, which it will do within 30 days after the final upset bid period has passed. Guilford County reserves the right to withdraw the property from sale at any time and the right to reject all bids.

Inquiries about the property and the sale may be made to the Real Estate Project Manager, Richard Mosher, (336) 641-3778, rmosher@guilfordcountync.gov

 

UPSET BID REQUIREMENTS

Pursuant to the Upset Bid procedures prescribed in N.C.G.S. 106A-269, Persons wishing to submit an Upset Bid on one or more of the above referenced properties shall submit a sealed bid with their offer to purchase to the office of the Clerk to Board, 301 W. Market St. Greensboro, NC 27401 no later than 9:59 am on Tuesday August 9, 2016. Promptly thereafter Bids shall be opened, if any, and the highest qualifying bid will become the offer for each respective parcel. If there is more than one bid for each or all parcels in the highest amount, the first such bid received will become the final offer. If a minimum qualifying bid is received, a new Invitation for Upset Bid will be advertised allowing for a subsequent 10 day upset bid time table.

A qualifying bid must be at, or in excess of, the Minimum Bid described in the Invitation for Upset Bids.

A qualifying bid must be accompanied by a deposit in the amount of five percent (5%) of the bid; the deposit may be made in the form of cashier’s check, or certified check. The County will return the deposit on any bid not accepted, and will return the deposit on an offer subject to upset if a qualifying bid is received. NO OFFER WILL BE ACCEPTED WITHOUT A BID DEPOSIT IN THE FORM AND AMOUNT INDICATED ABOVE.

The buyer must pay cash, cashier’s check or certified check at closing

The Guilford County Board of Commissioners must approve the final high offer before the sale is closed. The County reserves the right to withdraw the property from sale at any time before the final high bids are accepted and the right to reject at any time all bids.

Further information can be obtained through the Property Management Department, Attn: Rick Mosher (336)-641-3778 rmosher@myguilford.com.

GENERAL INFORMATION/TERMS OF SALE

 

Bid Form:  Each prospective bidder is required to complete and execute, in duplicate, the bid Offer To Purchase form found here. Bids shall be filled out legibly with all erasures, strikeovers, and corrections initialed by the person signing the bid and the bid must be manually signed. Negligence on the part of the bidder in preparing the bid confers no right for withdrawal or modification of the bid.
Bid Deposit:  Bid Deposit in the amount equal to 5% of the bid for the Sale item in the form of a cashier’s or certified check made payable to Guilford County. A Bid Deposit is required for the Sale Item bid. No offer will be accepted without a Bid Deposit. Failure to so provide such a bid deposit shall require rejection of the bid.
Terms:  All sales are “As-is/Where-is”. Bid Deposit is due at the time of bid submission. No offer will be accepted without a Bid Deposit. Balance of purchase price is due upon closing. The high bid will be considered a continuing offer for a period of 120 calendar days. The high bidder must be prepared to close within 60 days following notification of the Guilford County Board of Commissioner’s bid acceptance. The Board maintains the right to reject any and all bids for each parcel set forth herein. The Board may require additional terms and conditions of sale consistent with the terms set out herein.
Inspection:  All Sales items may be inspected at any time. Please refer all questions to Rick Mosher at 336-641-3778.
Mailing:  The Deposit and Bid Form should be placed in a sealed envelope and mailed or delivered to the location address above. Displayed prominently somewhere on the front of the envelope should be displayed: Upset Bid Pkg. 12.10.19
Descriptions in Advertisement for Upset Bids:  The Description of the property set forth in the Invitation for Upset Bids and any other Information provided therein with respect to said property are based on information available to the Property Management Section and are believed to be correct, but any error or omission, including but not limited to the omission of any information available to the agency having custody over the property and/or any other state agency, shall not constitute ground or reason for nonperformance of the contract of sale, or claim by purchaser for allowance, refund or deduction from the purchase price.
 Inspection:  Bidders are invited, urged and cautioned to inspect the property to be sold prior to submitting a bid. The failure of any bidder to Inspect, or to be fully informed as to the condition of all or any portion of the property offered, will not constitute grounds for any claim or demand for adjustment or withdrawal of a bid after the bid opening or auction.
Condition of Property  The property is offered for sale and will be sold “As Is” and “Where Is” without representation, warranty or guaranty as to the quality, quality, title, character, condition, size, or kind, or that the same is in condition or fit to be sued for the purpose for which intended, and no claim for any allowance or deduction upon such grounds will be considered after the bid opening or conclusion of an auction.
Revocation of Bid and Default  In the event of revocation of a bid after the opening of bids or conducting of an auction, but prior to acceptance, or in the event of revocation of a bid after notice of acceptance, or in the event of any default by the successful bidder in the performance of the contract of sale created by such acceptance, or in the event of failure by the successful bidder to consummate the transaction, the deposit, together with any; payments subsequently made on account, may be forfeited at the option of the Guilford County, in which even the bidder shall be relieved from further liability, or without forfeiting the said deposit and payments, Guilford County may avail itself of any legal or equitable rights which it may have under the bid or contract of sale.
 Title:  If a bid for the purchase of the property is accepted, the Seller’s interest will be conveyed by a quitclaim deed or deed without warranty and/or, where appropriate, a bill of sale in conformity with local law and practice.
Documentary Stamps and Cost of Recording:  The successful bidder shall pay all taxes and fees imposed on the transaction and shall obtain at bidder’s own expense and affix to all instruments of conveyance and security documents such as revenue and documentary stamps as may be required by Federal and local law. All instruments of conveyance and security documents shall be placed on record in the manner prescribed local recording statutes at the successful bidder’s expense.
 Contract:  The Invitation for Upset Bids, and the bid when accepted by the Guilford County Board of Commissioners, shall constitute an agreement for sale between the successful bidder and Guilford County. No oral statements or representations made by, or for, or on behalf of either party shall be a part of such contract. Nor shall any contract, or any interest therein, be transferred or assigned by the successful bidder without consent of Guilford County, and any assignment transaction without such consent shall be void.