Newark NJ Residential Land

Listing Number: 59828177 | Ewing, NJ US | NJ DOT Right of Way Excess Land 1 Seller's Other Auctions

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Auction Ended:

Final Bid:

$901,300.00

Bids:

118 Bids

Auction Details

Starting Bid: $455,000.00
Current Price: $901,300.00
Buy Now Price	$0.00
No Reserve
Buyer's Fee: 7.00% - 5.00% - 0.00%

Start Date
End Date	[Extended]
Bid History	118 Bid(s)
High Bidder	D**U
Page Views	5602

Payment Details

The successful bidder will have up to 60 days from close of the auction to conduct their due diligence, thereafter, the successful bidder must deposit their winning bid within 5 days of the end of the inspection period. The Seller may grant an extension for cause. The buyer may request to cancel the bid only if the due diligence reveals an undisclosed condition which substantially and unreasonably impacts upon the value of the Property being conveyed. The next highest bidder MAY be offered the opportunity to purchase at their highest bid, subject to these terms and conditions. Payment is accepted by Muncibid.com in the form of Electronic Fund Transfer, Wire Transfer, and Certified Payment (Certified Check, Cashiers Check, or Money Order). Please note: It may take 2 to 3 days to process your payment once it is received. For full payment instructions please visit www.municibid.com/pay

Item Description

Description

Offered for sale by the New Jersey Department of Transportation (NJDOT) is the property described below.

Location: City of Newark, Essex County Block 1879 Lots 1-4.

intersection of 1st Street and Sussex Avenue.

Note: Lot 5 is not owned by NJDOT and is not part of the sale.

GPS Coordinates: 40.749279, -74.18764

Size: approximately 8,264 SF. Zone: R-3 Third Residential.

Improvements: Site is vacant. Approvals: None

The NJDOT acquired the property as a part of a roadway project as Route 280 (1953), Sec. 7, Parcels 212, 213, 214 and 215. The property was formerly residential.

Terms and Conditions

Property has a minimum Starting Bid of $455,000.

No representation or warranties are made, express or implied, as to the environmental condition of the Property.

No representation or warranties are made, express or implied, as to the title held by the Seller to the Property, as to the condition of the Property, or its suitability for any particular use or development and the property will be sold as is.

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.

No survey or environmental report will be provided by the NJDOT.

The NJDOT will provide the successful bidder, upon request, with any title records for this property that it has on file.

NJDOT will contact the successful bidder to arrange for an agreement.

Payment is required prior to the Bargain and Sale deed being executed and recorded on the purchaser’s behalf by NJDOT.

Additional information on this Auction

Custom ID	Route 280, Section 7, Parcels VX212B, VX213B, VX214B, VX215B
Will Item results be voted on	No
Will you ship this item	No. Pickup only.
In person item inspection information	n/a
Pickup Location Details	Winning bidder will be contacted to arrange for agreement and delivery of deed.

Questions/Answers Ask the seller a question about this auction.

You must be signed in to ask and answer questions.

Q:	"What’s the size? How much the property tax?" - Asked by #35077529 12/04/2023 03:17 PM
A:	Size: approximately 8,264 SF Newark has identified taxes as: Lot 1 $1,460.78 Lot 2 $1,460.78 Lot 3 $1,460.78 Lot 4 $1,460.78 -Answered on 12/04/2023 04:00 PM
Q:	"What’s the actual address?" - Asked by #35077529 12/04/2023 04:40 PM
A:	100 to 106 1st Street -Answered on 12/04/2023 04:49 PM
Q:	"You have 2 empty properties own by NJ State and between them a private hous. Is both of them in this bid or the the one in the corner only?" - Asked by #35077529 12/05/2023 09:46 AM
A:	This auction is only for the corner property as described in the listing. -Answered on 12/05/2023 09:56 AM

Item location This location is a general area based on the sellers zip code. It is not the specific address where the item is located.

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Our Buyers Fees

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

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.