Government Owned Auction
Southeast Louisiana Flood Protection Authority West – Algiers Levee Board
May 1, 2019
Auction Terms and Conditions
1400 Brooklyn Ave, New Orleans, LA 70114
On behalf of the Southeast Louisiana Flood Protection Authority – Algiers Levee Board, and SVN|Gilmore Auction & Realty Co., thank you for your interest in this important real estate auction. Please review the following sections carefully. The Auction Terms and Conditions explain the process of buying property at this auction. The Auction Terms and Conditions of the sale are non-negotiable.
REGISTRATION: All bidding is open to the public. The auction will be conducted with live in-person bidding at the property. Each bidder will receive a bidder card/paddle and a copy of the Auction Terms & Conditions.
All bidders must show the following before being authorized to bid:
In order to bid, bidders must show to SVN|Gilmore Auction, prior to the auction a deposit in the form of a cashier’s check in the amount of ONE THOUSAND DOLLARS ($1,000.00) made payable to yourself.
TERMS OF SALE:
a. The public auction will take place at the property, 1400 Brooklyn Ave., New Orleans, LA 70114, Wednesday, May 1st at 10:00 a.m. (the “Auction Date”)
b. A buyer’s premium of ten percent (10%) will be added to the final winning bid and included in the total contract price paid for the property (“Buyer’s Premium”).
c. The successful bidder must submit an additional check on the auction date, which, when added to the $1,000.00 deposit, shall constitute ten (10%) percent of the total contract price and must close on the sale on or before 30 days from the Seller’s Acceptance.
d. The property will be offered in “as is, where is” condition, without warranty as to property condition.
e. In the event the successful bidder does not close on the sale before 30 days, or as extended by agreement with the Algiers Levee Board, the entire ten (10%) percent deposit will be retained by the Board as liquidated damages, and the Property will be sold to a backup bidder, in the order of the priority of the backup bidders, as determined at the auction.
You should read these papers carefully and discuss them with your attorney.
PROPERTY CONDITION: All property to be sold in "As is, where is" condition, with any and all faults and no implied warranties by the Board or auctioneer. All information and dimensions were derived from sources believed correct but are not guaranteed. Bidders should personally inspect the property.
All photographs, aerial photographs, location maps and displays are only approximations or approximate locations and are not intended to be used as a survey or definitive location maps.
Neither SVN|Gilmore Auction & Realty Co. nor the Seller, Algiers Levee Board, is guaranteeing this property for any suitability of use, access or development. Bidders should verify zoning, use and environmental issues prior to bidding on the property.
BUYERS SHALL RELY ON THEIR OWN INFORMATION, JUDGEMENT AND INSPECTION OF THE PROPERTY AND RECORDS.
DEPOSIT: Winning bidders must sign the auction Purchase Agreement including a deposit of 10% due on the property.
ANNOUNCEMENTS: All announcements on auction day will take precedence over any previously printed or electronic material and any other oral statements made. The Auction Agreement for the Purchase and Sale of Real Estate represents the final contracted terms.
WITHDRAWALS: The Algiers Levee Board reserves the right to withdraw the property from the Auction at any time.
FINANCING: Purchasers to obtain their own financing if required. Purchase Agreements are not subject to financing or qualification.
REPRESENTATIONS: Neither Algiers Levee Board nor Auctioneer makes any representations or warranties of the accuracy or completeness of any information provided. Each prospective purchaser must conduct and rely solely upon their own investigation of the properties. Each bidder shall be deemed to represent, warrant and agree that:
(a) Such bidder has examined the property on which he or she intends to bid, is familiar with the physical condition thereof and has conducted such investigation of the property as such bidder has considered appropriate, or has waived investigation of the property. There is no inspection period after the auction bidding. Bidding confirms you’ve inspected the property and read and agreed to the terms of sale in the Agreement for the Purchase and Sale of Real Estate.
(b) Neither Auctioneer nor the Algiers Levee Board, nor any affiliate, agent, officer, employee or representative of any of the foregoing has made any verbal or written representations, warranties, promises or guaranties whatsoever to such bidder, express or implied, with respect to the physical condition, operation, or any other matter or thing affecting or related to the property or the offering of sale of the property.
(c) Such bidder has not relied upon any representations, warranties, guaranties or promises or upon any statements made or any information provided concerning the property, including but not limited to the advertisements or Property Information Packages provided by the Auctioneer or the Algiers Levee Board or their respective agents and representatives, and
(d) Has determined to make its bid after having made and relied solely on its own independent investigation, inspection, analysis, appraisal and evaluation of the property and the facts and circumstances related thereto.
Auctioneer, Agents nor the Algiers Levee Board shall be under any obligation to disclose to any bidder and shall have no liability for its failure to disclose to any bidder, any information known to it relating to any property.
By registering and placing a bid, you agree to all of the terms and conditions of the auction.
Bidder’s Signature Date Email
Bidder Printed Name Phone