Auction of Public Land

Listing # 28879671 • Ewing, NJ US • NJ DOT Right of Way Excess Land

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View Seller Terms (PDF): Terms and Conditions.pdf

View Seller Terms (PDF): university heights maps and description VX564B VX565B VX566B.pdf

Auction Ended:

Final Bid:

$200,100.00

Bids:

133 Bids

Auction Details

Starting Bid: $63,000.00
Current Price: $200,100.00
Buy Now Price	$0.00
No Reserve
Buyer's Fee: 7.00% - 5.00%

Start Date
End Date	[Extended]
Bid History	133 Bid(s)
High Bidder	m*******s
Page Views	4655

Payment Details

Payment in full is due to Municibid no later than 5 working days after the close of the auction. Payment is accepted in the form of Electronic Fund Transfer, Credit Card and Wire Transfer.Please note: It may take 2 to 3 days to process your payment once it is received. For full payment instructions please visit www.info.municibid.com/pay

Item Description

New Jersey Department of Transportation will sell the parcel of land noted below at a public internet auction. The auction may be viewed and bid on at any time prior to closing, which will occur at 5:00PM Eastern time on July 13, 2020.

The auction is hosted on www.municibid.com .

The property is identified as Route: University Heights Connector, Parcels VX564B, VX565B, VX566B, VX567B and VX658B. The property is located at 80 thru 88 1st Street, in the City Newark, Essex County, also known as Block 1879, lots 11,12,13,14,and 15 on the municipal tax maps.

The Property was acquired as a part of the highway right of way, consisting of approximately 0.217acres, (9,452) square feet. The Property is being sold without approvals. Site is currently vacant. The property zoning is R-3 - Residential Zone. The Property may not be used for the display or erection of commercial billboards, signs, devices or advertising displays and may not be used for storage of salvaged materials or as a junk yard.

Property will be sold subject to a minimum Starting Bid of $63,000.

Information concerning the auction, additional terms and conditions is available at www.Municibid.com Auction # .

By: David Kook, Management, Technical Support, on behalf of Diane Gutierrez-Scaccetti, Commissioner of Transportation.

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Additional Information on this Auction

Custom ID	University Heights Connector Parcels VX564B, VX565B, VX566B, VX567B and VX658B
Will Item results be voted on	No
Will you ship this item	No. Pickup only.
In person item inspection information	Vacant Land Located at 80 - 88 1st Street, Newark, NJ

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Listing status

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With Municibid, pricing is clear, up-front and transparent. A buyer's fee (% of the winning bid amount) will be charged directly to the winning bidder upon the close of each auction via the credit card you entered prior to placing the bid. You pay the selling agency directly for the full cost of the item. (unless otherwise noted)

All Buyers fee's are aggregate unless otherwise noted. This means after you cross certain price thresholds you will pay a different buyers fee for the remaining amount. See below for an example.

Example:

If buyers fee is 8% for bids up to $99,999.99, 5% for bids $100,000 - $499,999.99, and 4% for bids over $500,000.

Winning bid: $50,000 = Buyers fee: $4,000 (8% of $50,000).
Winning bid: $150,000 = Buyers fee: $10,500 (8% of $100,000 = $8,000) + (5% of $50,000 = $2,500).
Winning bid: $550,000 = Buyers fee: $30,000 (8% of $100,000 = $8,000) + (5% of $400,000 = $20,000) + (4% of $50,000 = $2,000).

Where can I see what the buyers fee is?

The current buyers fee will always be shown on the page of the listing under the current price in both the bid area and auction details area. You will also see the buyers fee amount you will pay for your entered bid on the page where you confirm your bid.

What if the selling agency rejects my bid?

If the government agency rejects your bid (they reserve the right to do so) your buyer's fee will be returned, in full, to you within 5 days of notification to Municibid of the rejected bid by the governing body.

Bidding Increments

Please Note: Bid increments automatically adjust based on the level of the current bid. The increments are as follows:

If amount is greater than or equal to	The bid increment will be
$0.00	$1.00
$100.00	$10.00
$500.00	$25.00
$1000.00	$50.00
$2500.00	$100.00

**If there is a reserve on an item, your bid will go to the lessor of either your maximum bid or the reserve price.

FAIR WARNING ALL SALES ARE FINAL. You are legally obligated to pay for your item per the terms of the seller if you are the high bidder at the close of auction. If you do not pay for your item, you will not receive a refund of your buyer's final sale fee, you will no longer be permitted to bid on municibid.com and will be subject to a penalty of 40% of the winning bid amount. If your credit card is declined for insufficient funds, you will be charged a $50 fee.

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