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THIS IS A BANKRUPTCY SALE ORDERED BY THE U.S.
BANKRUPTCY COURT -
THE TERMS AND CONDITIONS ARE AS FOLLOWS:
Internet Venue: http://www.bkassets.com & http://www.ebay.com
Notice Period & Viewing: The notice period shall run up to the bar date
contained on the notice herein plus 5 (five) additional business days.
During this time, the asset and any available due diligence information
will be able to be viewed on www.bkassets.com.
Sale Period: The actual auction sale will be run on the Internet venue
known as www.ebay.com. The sale period will be 7 days. Links will be
provided at www.bkassets.com and www.ebay.com in order for bidders to
participate in the Internet bidding process.
Closing Procedure: The highest final bid received (assuming the minimum
price is met) at the closing of the bidding on eBay will be considered the
final bid accepted by BKassets. BKassets will proceed to close the sale
with the final bidder. The highest bidder will be required to send BKassets
certified funds within 7 days of the close of the auction. BKassets will
then ship the item within 5 days after receiving certified funds from the
highest bidder. If the item is a document, BKassets may have 14 days
(in most cases) to obtain relevant signatures before sending the document. After closing the sale,
BKassets will provide a report of sale to the Trustee indicating the results of
the sale.
Default Bidders: If the highest bidder for some reason does not close the sale within 14 days
from the close of auction, BKassets reserves the right to proceed to the next
highest bid received and close with that bidder.
The
bidder in default may be held responsible for the difference in the bids
or the entire amount of his/her bid should the second highest bidder not take the option to
become the successful bidder. This is enforceable by the U.S. Bankruptcy Court.
Real Estate Sales: All real
estate/property sales (including timeshares) are subject to U.S. Bankruptcy
Court laws, which fall under federal jurisdiction and pre-empt any policy held by eBay or other Internet venue
and are enforceable by a federal judge. If a buyer does not complete a real estate/property transaction, buyer will be held responsible for all fees and costs to re-list the property, and will be subject to the same terms and conditions as default bidders (see above paragraph).
A bid submitted by a buyer is an agreement to these Terms. Buyers should
not bid unless they fully intend to complete the sale in order to avoid the penalties listed in these Terms.
All sales are final.
Other Terms & Conditions: The property will be sold as is, where is, with
no warranties implied or stated, subject to any existing liens and
encumbrances known or unknown by the Trustee or BKassets.
Due Diligence Information: The Trustee has made all available due diligence
information that has been received relating to the subject properties on
www.bkassets.com and that information is available to all potential
purchasers to view and/or download. Buyers are encouraged to do their own
due diligence prior to bidding.
Disclosures: BKassets will disclose to all potential bidders on
www.bkassets.com and www.ebay.com that these sales are subject to a
Bankruptcy Court Proceeding. The case number and case name will be
provided as well as BKassets' contact information.
To participate in the auction, a party should first go the
www.bkassets.com
website to view the asset being held pending a sale date (waiting for the
bar date notice contained herein to expire plus five (5) business days).
Once the bar date notice has expired plus five (5) business days, the sale
will commence on www.ebay.com. Potential purchasers may obtain the location
of the Internet on-line bidding link through www.bkassets.com. The sale
information will also be available on www.ebay.com in the various categories
listed by eBay.
It is the Trustee's belief that the proposed sale is the best interest of the
estate and the proposed public auction via the Internet is fair and reasonable
and affords the estate the best opportunity to maximize the value of this asset.
All auction sales are subject to document preparation fees as stated in
the ad in addition to the winning bid amount.
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