1705_Sheridan

MARKET MAKERS

IN REAL ESTATE

REALTY MARKETING/NORTHWEST

AUCTION INFORMATION OFFICE

Oregon Office:

522 S.W. 5th Avenue, Suite 725

Portland, OR 97204

Phone:

Portland Metro Area

(503) 228-3248

Toll-free

(800) 845-3524

Facsimile

(503) 242-1814

Email:

info@rmnw-auctions.com

SUPPLEMENTAL INFORMATION PACKAGE

More detailed information is available for the property. A Supplemental

Information Package, which includes all pertinent data provided by the

Seller on the property, is available by calling Auction Information Office at

1-800-845-3524.

PUBLISHED RESERVE

This property is offered with a Bulk Published Reserve Price of $3,100,000.

The Building One property is being offered with a Published Reserve Price

of $1,600,000 and the Building Two property with a Published Reserve Price

of $1,500,000. This means that when the bidding reaches or exceeds the

amount of the Published Reserve Prices, the Seller is committed to sell the

properties to the high bidders. Should the bidding fail to reach the amount

of the Published Reserve Prices, Seller reserves the right to accept, counter

or reject the high bid no later than five business days following the Auc-

tion. The sale of the individual properties will be subject to and contingent

upon receipt of qualified, successful bids equal to, or in excess of, $3,100,000.

Seller has sole discretion to accept either a bulk bid, or individual bids, at

less than the listed reserve prices, but is not obligated to accept those bids.

BID PROCESSING AND CLOSING

Sealed Bids are due March 8, 2017, by 5:00 p.m. Bid must be accompanied

by a certified or cashier’s check in the amount of ten percent (10%) of the

bid amount, made payable to Realty Marketing/Northwest Client Trust Ac-

count. Prior to making a bid, refer to the Supplemental Information Package

with regard to customary closing costs including, but not limited to, record-

ing fees, normal prorations, title fees, transfer and/or excise taxes (if appli-

cable), sales tax on personal property (if applicable), local improvements

and irrigation district assessments (if applicable), and document prepara-

tion fees. Buyers will be responsible for any real estate compensation taxes

or rollback taxes and penalties as a result of a change in use or designation

of the property including, but not limited to, a change from open space,

agriculture, forest land or recreational. Due diligence must be completed

prior to bid submission.

Bidders will be notified of acceptance or rejection of bids no later than

March 15, 2017. The earnest money deposit from the successful bidder will

be considered earned and become non-refundable liquidated damages in

the event of Buyer’s default.

Unsuccessful bidders’ earnest money will be returned within three business

days of Seller’s rejection.

The closing of the transaction will be no later than April 10, 2017.

FINANCING

Sale is ALL CASH.

COOPERATING BROKERS

Broker cooperation is invited. A commission of 2% will be paid to the real

estate agent whose Buyer closes on the purchase of the Sheridan Auction

Property. The real estate agent must be a broker currently licensed by his/

her state of residence or a salesperson licensed under such broker. Cooperat-

ing broker commission will be paid only upon close of escrow. Cooperating

brokers will not share in any payment of liquidated damages.

Buyers must register their real estate agent on the Sealed Bid Form.

No real estate agent will be recognized for a Buyer where that Buyer has

previously contacted, or been contacted by, the Seller, or Realty Marketing/

Northwest, concerning the Auction Property purchased. No commission

will be paid to any real estate agent participating as a principal in the pur-

chase of the property. The commission will be earned and paid only upon

the full and final closing by the Buyer on the conveyance of the property

and the receipt of the full purchase price by Seller. No exceptions to this

procedure will be made.

ADDITIONAL CONDITIONS

(A) No claim will be considered for allowance, adjustment or rescission

based upon failure of the property to correspond to any particular expecta-

tion or standard (except the Preliminary Title Report).

(B) Title insurance is available for the property, ensuring the title of such

property to be in fee simple, subject to no encumbrances except for current

taxes and assessments, easements, rights-of-way, reservations, covenants,

conditions and restrictions of record, purchase money financing and printed

exceptions in the standard form Owner’s Title Policy. A copy of the Prelimi-

nary Title Report for each property is included in the Supplemental Infor-

mation Package.

tive buyers should examine the property and all supporting documentation

carefully. Each bidder is responsible for evaluating the property and shall

not rely on the Seller or sales agents. Buyer will take possession at the close

of escrow.

(D) Sizes and square footages set forth for the properties are approxima-

tions only, based on the best information available, but the actual sizes and

square footages may be different. All sketch plans are conceptual in nature

and neither Seller nor its agents have submitted plan or made applications

to any public agency.

(E) Agency Disclosure. The listing agents, Realty Marketing/Northwest and

Colliers International, represent the Seller in these transactions.

(F) Seller has the right to postpone or cancel the Auction in whole or in part,

at its sole discretion, and to modify or add any terms and conditions of sale.

(G) Offer void where prohibited. Catalog will not be mailed to residents of

any state for which this offering is not in compliance with the real estate

laws or other laws of that state.

(H) The information contained herein has been gathered from sources

deemed reliable; however, Realty Marketing/Northwest makes no warran-

ties expressed or implied as to the accuracy of the information contained

herein.

NEED HELP?

Realty Marketing/Northwest prides itself on the quality of its service. If at any

time you need special assistance, please contact John Rosenthal, President, at

(800) 845-3524 or (503) 224-1906.

TERMS AND CONDITIONS OF THE AUCTION – Catalog 1705

R E A L T Y M A R K E T I N G / N O R T H W E S T

Auction Conducted by Realty Marketing/Northwest, Broker

Aerial Photography by GeoTerra, Inc.

Graphic Design by Troy Hall

Editing by Marti Cohn

www. rmnw- auc t i ons . com

material may be reproduced or utilized in any form or by any means, electronic or

mechanical, including photocopying and recording, or by any information storage and

retrieval system without permission in writing from Realty Marketing/Northwest.