UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF NEW MEXICO
In re: ROMAN CATHOLIC CHURCH OF THE ARCHDIOCESE OF SANTA FE,
a New Mexico corporation sole, Debtor
Case No.: 18-13027-t11
ELECTRONIC ONLINE REAL ESTATE AUCTION
“TERMS OF SALE AND BIDDING PROCEDURES”
On behalf of the Debtor and staffs of SVN Auction Services, LLC & SVN | Walt Arnold Commercial Brokerage (“SVN”), thank you for your interest in this important online bankruptcy real estate auction. Please review the following sections carefully. The Terms of Sale and Bidding Procedures explain the process of qualifying and buying property(s) through the SVN online auction platform. The Auction Terms of Sale and Bidding Procedures are non-negotiable.
All bidding is open to the public. The auction will be conducted online only. Prospective bidders must (i) agree to the Auction Terms of Sale and Bidding Procedures in order to qualify and bid during the online auction (ii) must provide full contact information and be 18 years of age or older and (iii) must register using a valid credit card, with a minimum $1,000 credit, at www.ASFbankruptcyauction.com. The system will authorize and capture but not charge the account.
All property(s) to be sold in "As Is, Where Is" condition, with any and all faults and no implied or expressed warranties by either the debtor or SVN. Debtor does not make any representations concerning the property(s). All information and dimensions were derived from sources believed correct but are not guaranteed. Bidders should personally inspect all properties and perform their own due diligence. Should you determine that you wish to conduct any technical investigative property evaluations through licensed and bonded experts, please be advised you will need to make advance arrangements with SVN | Walt Arnold Commercial Brokerage, Inc. and provide the required certificate of insurance naming (i) the Broker | Auctioneer, (ii) the Debtor, and (iii) their respective attorneys, agents, seller parties and authorized representatives as additional insured’s.
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 nor Debtor is guaranteeing these properties for any suitability of use, access or development. Bidders should verify zoning, use, current condition and environmental issues prior to bidding on any parcel. BUYERS SHALL RELY ENTIRELY ON THEIR OWN INFORMATION, JUDGEMENT, DUE DILIGENCE, AND INSPECTION OF THE PROPERTY(S) AND RECORDS.
The winning bidder(s) will be notified via email with an electronic Docusign Real Property Purchase Contract with instructions to execute and return within 48 hours of receipt; the contract and the required earnest money deposit via wire transfer of ten percent (10%) of the total purchase price OR five hundred dollars ($500.00) whichever is greater, and an escrow/closing fee of $500 (five hundred dollars) + sales processing fee of $250 (two hundred fifty dollars) known as the deposit (“Deposit”). Upon acceptance by an authorized official of the Debtor, the deposit in non-refundable. The deposit will be placed into escrow with the Debtor’s designated escrow/closing company until closing.
The balance of the purchase price is due at closing within ten (10) business days after a fully executed contract; however, in no event later than September 13, 2022. At closing purchaser to pay recording fee, New Mexico gross receipts tax and ALL closing costs. At closing The property(s) will be conveyed by statutory Quit Claim Deed.
Conduct of the electronic online auction and increments of bidding are at the discretion of Debtor and SVN.
- Auto | Max Bids:
The online bidding system allows for an “automatic incremental bid” where the bidder enters the bidder’s maximum amount but only bids up to the next nearest amount. This keeps a bidder from having to re-bid after another bidder submits bids. The bidding platform gives priority to Auto | Max bids. For example, if Bidder "A" has entered a max bid of $50,000 and Bidder "B" enters a single bid of $50,000, Bidder "A's" Max bid in the event of a tie will prevail. The system will only bid for you up to the next increment. You may wish to consider utilizing an Auto | Max bid.
- Soft Close:
If a bid is received within the final 5 minutes of a property/transaction closing, the auction will automatically extend for another 10 minutes and will continue to do so until all bidding within a given 5 minute period ceases. This is the online version of a live auctioneer’s “Going Once, Going Twice…”
SVN Auction Services, LLC and SVN | Walt Arnold Commercial Brokerage, Inc. (“SVN”) is acting as selling agent for the Debtor in these transactions and is to be paid a commission by separate agreement with Debtor and approved by the Bankruptcy Court. SVN is not acting as Agent for the Purchaser.
Potential bidders are advised to conduct their own due diligence and to review the approved form Real Property Purchase Contract thoroughly, prior to bidding on any particular property. Sample real property purchase contracts are available at www.ASFbankruptcyauction.com.
All announcements posted at www.ASFbankruptcyauction.com will take precedence over all previously printed material and any other oral statements made by Debtor or SVN. The Real Property Purchase Contract represents the final contracted terms. In the event of a dispute over any matter, Debtor and the Court shall make the sole and final decision and will have the right either to accept or reject the final bid or re-open the bidding. SVN and Debtor reserve the right to refuse any bid or the right to refuse any party from participating in the bidding.
Debtor reserves the right to withdraw any property from the auction at any time, whether bids have been received on the property or not.
Buyers must obtain their own financing if required. Purchase agreements will not be subject to any financing or qualification for any financing. NO post auction due diligence of any nature will be allowed.
In the event a Buyer fails to take title when title is tendered by Debtor, Debtor at its option may seek specific performance of the Agreement or may terminate the Agreement and retain Buyer’s Deposit. Additional default remedies are reserved by SVN and Debtor as provided in the Auction Terms of Sale and Bidding Procedures; and the “Real Property Purchase Contract”. Should a buyer fail to comply with any of these Auction Terms of Sale and Bidding Procedures, the sale shall be canceled, and Debtor may, at its option retain the deposit as liquidated damages.
A two percent (2%) commission on the winning bid price will be paid to a qualified New Mexico licensed real estate broker whose client successfully closes on a property/transaction. An agent must register bidder in advance by completing and returning the Broker | Client Registration Form available on the website www.ASFbankruptcyauction.com. No oral registrations will be accepted and Debtor will not grant any exceptions!
Neither Debtor nor SVN makes any representations or warranties as to the accuracy or completeness of any information provided. Each prospective purchaser must conduct and rely solely upon its’ own due diligence and investigation of the properties. By participating in the online bidding system each bidder shall be deemed to represent, warrant and agree that:
(a) The bidder has examined the property on which he or she intends to bid, is familiar with the physical condition and has conducted such investigation of the property as such bidder has considered appropriate, or has waived due diligence and investigation of the property. Debtor will not allow any inspection or due diligence period after the auction bidding has concluded.
(b) Neither SVN nor Debtor, 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, expressed 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 brochures, advertising or Electronic Parcel Summary’s provided by SVN or Debtor or their respective representatives.
(d) Bidder voluntarily submits its bid after having made and relies solely on its own independent investigation, due diligence, inspection, analysis, appraisal and evaluation of the property and the facts and circumstances related to the property.
By registering and placing a bid, bidder agrees to all of the terms and conditions of the electronic online bankruptcy auction. Online bidders agree that any technical issues with the bidding platform are not the responsibility of the bidding platform, SVN, Debtor or any other entity associated with the sale. SVN, DEBTOR, and BIDWRANGLER shall not be held responsible for failure of online networks, Bidder’s internet connections, cellular networks or time delays. Bidders waive and release any claims against SVN, DEBTOR and BIDWRANGLER for any missed bids or the failure of the software platform to function properly for any reason.
Bidder’s Signature Date Email
Bidder’s Printed Name Phone