1 REAL ESTATE AUCTION 18 BY ORDER OF THE CITY OF RENSSELAER, NY SINGLE FAMILY HOMES, MULTI-FAMILY HOMES, COMMERCIAL & CITY OF RENSSELAER, NY TAX FORECLOSED PROPERTIES Wednesday, June 13, PM Registration: 5:30 PM AUCTION SITE: City Hall, 62 Washington Street,, NY DIRECTIONS: New York State Thruway EXIT 23 toward DOWNTOWN ALBANY/RENSSELAER/TROY, 2.0 mi, US-9 S/US-20 E exit, EXIT 3, toward RENSSELAER 0.5 mi, Turn SLIGHT RIGHT onto US-20 E/US-9 S/DUNN MEMORIAL BRIDGE. Continue to follow US-20 E/US-9 S. 0.6 mi, LEFT onto BROADWAY 0.2 mi, RIGHT onto 3RD AVE/NY-151, 0.1 mi, RIGHT onto WASHINGTON ST. (Look For Auction Signs) SBL: Class Code: 411 Lot Size: 0.08 Acres +/- Annual Taxes: $4, /- SBL: Lot Size: 0.06 Acres +/- Annual Taxes: $3, /- SBL: Lot Size: 0.11 Acres +/- Annual Taxes: $2, /- AUCTIONS REALTY & MANAGEMENT, INC. TRACT #7: 334 BROADWAY APARTMENTS Full Market Value: $76,512 TRACT #10: 1508 FIRST STREET Full Market Value: $49,466 TRACT #13: 1233 THIRD STREET Full Market Value: $79,715 Collar City Auctions Realty & Management, Inc. Licensed & Bonded Auctioneers/Liquidators/Realtors/Certified Appraisers/Consultants (518) ext Nationwide Auction, Liquidation, Real Estate, Appraisal, Consulting & Mgmt. Services Members of: National Auctioneers Association, New York State Auctioneers Association, Realtor, Capital Region Multiple Listing Services, Greater Capital Association of Realtors, Certified Appraisers Guild of America, International Society of Appraisers, National Association of Realtors, New York State Association of Realtors, Vermont Auctioneers Association, Massachusetts Auctioneers Association, American Association of Appraisers. Any and all information contained herein has been obtained from sources deemed reliable. Collar City Auctions Realty & Management, Inc./Randy Passonno, Pres. and any agents, shall not be responsible for any errors or omissions. Subject To Change Without Notice. Offer void where prohibited.
2 TRACT #1: 217 MOUNTAIN VIEW AVENUE SBL: Lot Size: 0.63 Acres +/- Annual Taxes: $ /- SBL: Lot Size: 0.22 Acres +/- Annual Taxes: $ /- Full Market Value: $6,762 TRACT #2: 220 MOUNTAIN VIEW AVENUE SBL: Lot Size: 0.07 Acres +/- Annual Taxes: $1, /- SBL: Class Code: 230 Lot Size: 0.07 Acres +/- Annual Taxes: $5, /- SBL: Lot Size: 0.04 Acres +/- Annual Taxes: $3, /- SBL: Lot Size: 0.04 Acres +/- Annual Taxes: $ /- Full Market Value: $1,779 TRACT #3: 1534 BROADWAY Full Market Value: $48,043 TRACT #4: 1600 THIRD STREET THREE FAMILY RESIDENCE Full Market Value: $94,662 TRACT #5: 65 DALE STREET Full Market Value: $61,210 TRACT #6: 1710 SIXTH STREET AUCTIONS REALTY & MANAGEMENT, INC. Full Market Value: $11,744 Licensed & Bonded Auctioneers Liquidators Realtors Certified Appraisers Consultants (518)
3 SBL: Class Code: 411 Lot Size: 0.08 Acres +/- Annual Taxes: $4, /- TRACT #7: 334 BROADWAY APARTMENTS Full Market Value: $76,512 TRACT #8: 320 BROADWAY BENEVOLENT AND MORAL ASSOCIATIONS SBL: Full Market Value: $220,641 Class Code: 632 Lot Size: 0.12 Acres +/- Annual Taxes: $8, /- SBL: Lot Size: 0.14 Acres +/- Annual Taxes: $1, /- SBL: Lot Size: 0.06 Acres +/- Annual Taxes: $3, /- SBL: Lot Size: 0.06 Acres +/- Annual Taxes: $ /- SBL: Class Code: 230 Lot Size: 0.19 Acres +/- Annual Taxes: $3, /- TRACT #9: 7 NELSON AVENUE Full Market Value: $51,957 TRACT #10: 1508 FIRST STREET Full Market Value: $49,466 TRACT #11: 1526 SECOND STREET Full Market Value: $1,779 TRACT #12: 1203 BROADWAY THREE FAMILY RESIDENCE Full Market Value: $106,762 AUCTIONS REALTY & MANAGEMENT, INC. Licensed & Bonded Auctioneers Liquidators Realtors Certified Appraisers Consultants (518)
4 SBL: Lot Size: 0.11 Acres +/- Annual Taxes: $2, /- SBL: Class Code: 220 Lot Size: 0.06 Acres +/- Annual Taxes: $4, /- SBL: Class Code: 330 Lot Size: 0.19 Acres +/- Annual Taxes: $ /- SBL: Lot Size: 0.09 Acres +/- Annual Taxes: $2, /- SBL: Lot Size: 0.18 Acres +/- Annual Taxes: $ /- SBL: Lot Size: 0.09 Acres +/- Annual Taxes: $3, /- TRACT #13: 1233 THIRD STREET Full Market Value: $79,715 TRACT #14: 1213 THIRD STREET TWO FAMILY RESIDENCE Full Market Value: $92,527 TRACT #15: 3 GARDEN PLACE VACANT COMMERCIAL LAND Full Market Value: $15,302 TRACT #16: 941 SIXTH STREET Full Market Value: $65,836 TRACT #17: 840 SIXTH STREET Full Market Value: $7,117 TRACT #18: 61 SOUTH STREET AUCTIONS REALTY & MANAGEMENT, INC. Full Market Value: $55,160 Licensed & Bonded Auctioneers Liquidators Realtors Certified Appraisers Consultants (518)
5 ADDENDUM: A TERMS AND CONDITIONS OF SALE BID # ADDITIONAL INFORMATION REGARDING THE AUCTION MAY BE OBTAINED FROM COLLAR CITY AUCTIONS REALTY & MANAGE- MENT, INC AT x 103, does not necessarily disqualify one from eligibility to purchase from the City of. Inquiries should be addressed to the Office of the Corporation Counsel. 1. The City of City of acquired title to these properties in accordance with Article 11 of the Real Property Tax Law of the State of New York, and all known rights of redemption under said provisions of law have been extinguished by the tax sale proceedings; and/or as a result of forfeiture. 2. For purposes of these Terms and Conditions, parcel shall be defined as a section, block and lot number. 3. All purchasers are advised to personally inspect the premises and to examine title to the premises prior to the date upon which the sale is scheduled to take place. Upon delivery of the quitclaim deed by the City of to the successful purchaser, any and all claims with respect to title to the premises are merged in the deed and do not survive. The premises will be conveyed subject to conditions affecting said premises, subject to existing tenancies or persons in possession, and to such state of facts as would be disclosed by a survey and inspection. The City of and Auction Company makes no warranty or representation as to the boundary lines, condition or physical existence of the property described hereinabove; or to the marketability of its title, including the regularity of any tax or other proceeding affecting the sale. The Uniform Vendor and Purchaser Risk act (Section of the General Obligations Law) does not apply to this sale. The property(s) will be sold as advertised and as is with absolutely no warranty or guaranty, expressed or implied. 4. No personal property is included in the sale of any of the parcels owned by City of, unless the former owner or occupant has abandoned same. The disposition of any personal property located on any parcel sold shall be the sole responsibility of the successful purchaser following the closing of sale. 5. All informational tools, such as slides, tax maps, deeds, photos, auction listings, auction catalogs, auction signs, property record cards, etc., are for identification purposes only and are neither a guarantee nor a warranty as to location, dimensions, accessibility, parcel use and/or size, or anything else. THE CITY, THE AUCTIONEER AND THE BROKER MAKE NO WARRANTY EXPRESS OR IMPLIED IN CONNECTION WITH THIS SALE. 6. All bidders are required to register and provide suitable personal identification prior to the auction. Auctioneer reserves the right to decline registration if identification is not sufficient. Individuals acting on behalf of others, not in attendance at the auction, must produce a Power of Attorney duly executed and notarized. Incorporated entities (Inc., Corp., LLC., etc.) are required to provide a corporate resolution authorizing the purchase of real property prior to the transfer of title. 7. All bidders are required to use the bidder number issued to them for all purposes associated with the auction. A bidder may not bid on behalf of a party who is on the prohibited bidder list. 8. Bidder acknowledges receivership of the pamphlet entitled Protecting Your Family From Lead in Your Home. Bidder also acknowledges that he/she has had the opportunity to conduct a risk assessment or inspection of the premises for the presence of lead-based paint, lead-based paint hazards, mold or asbestos. 9. The former owner of the property, or his agent, shall not be permitted to bid on the property or purchase same at the public auction, unless the amount exceeds the amount of tax arrears. If the former owner or his agent reacquires the property, all liens existing prior to the foreclosure, will be reinstated and the purchaser (former owner) must sign the deed to reinstate the liens. 10. Purchaser shall provide information necessary to complete, and shall execute, the necessary forms and documents required for recording the deed in the County of Clerk s Office. Offer to Purchase Form and sale cannot be assigned. Unless the City agrees to in writing, the purchaser executing the auction terms and conditions of sale may not assign or otherwise transfer his right to complete the bid. The deed prepared will be in the name of the successful bidder (and spouse) only. No third-party bidding will be accepted, unless the bidder identifies that he is bidding as an agent for a disclosed principal. 11. The auctioneer s decision regarding any disputes is final, and the auctioneer reserves the right to reject any bid that is not an appreciable advancement over the proceeding bid. 12. NOTE: Status as an employee or an officer of the City of 13. A down payment of (10%) ten percent of the purchase price will be required to be paid at the time of bidding at auction. Only cash, certified check or money order will be accepted MADE PAYABLE TO THE BIDDER THIS MEANS YOU. (NO PERSONAL CHECKS WILL BE ACCEPTED) (10%) Ten percent of the purchase price (which is your deposit and will be deducted from your bid amount owed). In addition, you must IMMEDIATELY PAY the following fees which WILL BE PAID TO THE AUCTION COMPANY and will not be deducted from the balance of your bid: A $ Administration fee, plus 15% buyer s premium (15% Add-On To Bid Price) ($500 minimum) of the purchase price on EACH property bid on and purchased at auction. This may be a second certified check or money order or added into one combined check. All funds must be drawn on banks insured by the Federal Deposit Insurance Corporation (FDIC). No Exceptions. In addition to the accepted bid price, the Purchaser shall be responsible for all closing costs/fees and apportioned School, City and County taxes. SAMPLE TRANSACTIONS: $50, (Bid Price) $5, (10% Down Payment) $7, (15% Buyer s Premium) $ (Administrative Fee) $45, (Balance Due To City) $12, (Money Needed Auction Day) $1, (Bid Price) $ (Down Payment) $ (Flat Fee) (1, x 15% =$225.00) The 15% buyer s premium is below the $ so the minimum fee applies.) $ (Administrative Fee) $1, (Balance Due To City plus closing fees and apportioned taxes) $ (Money Needed Auction Day) 14. All bids are subject to Common Council Approval at the June 20, 2018 Meeting. Upon acceptance, the purchaser will pay the entire balance due at transfer of title which must take place NO LATER THAN JUNE 29, 2018 TIME BEING OF ESSENCE. In addition, Purchaser will pay all closing costs, which include: transfer gains tax, $4.00 per $1,000 of purchase price, all filing fees and a $ closing attorney s fee. Upon default of such payment, or failure to close title by purchaser defined herein, the City shall retain the down payment and fees which are not a penalty but liquidated damages and the buyer s premium, flat fee and administrative fee shall be retained by the Auction Company not as a penalty, but as liquidated damages. This period may be extended only for extenuating circumstances by the Common Council. 15. The City Council reserves the right to reject any and all offers, with or without cause or justification. 16. In the event the City for any reason determines not to sell to the purchaser, the liability of the City of and of its agents relative to the property conveyed is limited to the return of any payments made to the City of. 17. No representations or warranties of any kind are or have been made by the City of, Auction Company or any of either s agents as to the title or physical condition of the property or as to the existence of any improvements thereon and the bidder as purchaser acknowledges that they have inspected the property and agree to accept the property in as is condition at time of closing. 18. The purchaser shall not enter, alter, remove or otherwise change any items contained in or attached to any building or land to be purchased from the City of until the full purchase price and fees are paid and the deed from the City of is received by the purchaser. 19. The closing costs/fees which the purchaser shall be required to pay shall consist of: (a) New York State Transfer Tax [$2.00 for each $ of the purchase/bid price]; (b) Filing fee for the Real Property Transfer Report (RP-5217) $ for a 1-3 family dwelling, an apartment, or condominium, and $ if the property is otherwise classified (vacant, commercial, entertainment, community service, industrial, public service, forest, etc.); (c) Filing fee for combined Gains Transfer Tax Affidavit [$5.00]; (d) Deed recording - $45.00 plus $5.00 per page including County cover page.
6 20. All parcels for which you are the successful bidder for must be paid in full. No selective closings subsequent to the auction. Failure to remit full payment on all parcels for which you are the successful bidder will result in a default of all down payments tendered, not as a penalty, but as liquidated damages, and you will not be permitted to close on any other parcels for which you are the successful bidder. 21.The entire balance of the purchase price and all closing costs/fees must be paid by cash or guaranteed funds to the City of on or before JUNE 29, The City is not required to send notice of acceptance to a purchaser. If the purchaser fails to pay the balance of the purchase price as herein provided, the deposit shall be forfeited as liquidated damages. The City reserves the right, to bring an action for specific performance. Time is of the essence. 22. In the event that a sale is cancelled by Court Order or judgment or by resolution of the City of Legislature, the successful bidder shall be entitled only to a refund of the purchase money. Purchaser shall not be entitled to special or consequential damages, nor attorney fees, nor reimbursement for any expenses incurred as a result of ownership or improvements of the property nor for taxes paid during the period of ownership. 23. All sales shall be final, absolute and without recourse once title has closed and the deed has been recorded. In no event, shall City of and/or Collar City Auctions Realty & Management, Inc. be or become liable for any defects in title for any cause whatsoever, and no claim, demand or suit of any nature shall exist in favor of the purchaser, its heirs, successors or assigns, against City of and/or Collar City Auctions Realty & Management, Inc. arising from this sale. 24. Property Inspection: Properties shall be available for inspection on the published date and time. This is the only time the property will be available for inspection. Please bring a flashlight. No children or pets please. 25.Conveyance shall be by quitclaim deed only, in a form approved by the City of Attorney, containing a description of the property as it appeared on the tax roll for the earliest year for which the County acquired title or as corrected up to date of deed. The deed will be recorded by the County upon payment in full of the purchase price and closing fees/costs. POSSESSION OF PROPERTY IS FORBIDDEN UNTIL THE DEED IS RECORDED WITH THE CITY OF RENSSE- LAER CLERK CONVEYING TITLE TO THE PURCHASER. TITLE VESTS AT THE RECORDING OF THE DEED. It is agreed between the County and the purchaser that delivery and acceptance of the deed occurs upon recording of the deed. 26.A quitclaim deed issued as a result of the auction shall contain the following provisions: (a) Nothing contained in any description herein is intended to convey more than the assessed owner owned at the time of the levy of the tax, the non-payment of which resulted in the tax sale. There is no representation as to the extent of the acreage conveyed herein ; (b) Excepting and reserving all the right, title and interest of the City of in and to any portion or interest of the lands herein conveyed, which interest was heretofore acquired other than pursuant to the provisions of the Real Property Tax Law of the State of New York ; (c) If the former owner is the grantee herein or subsequently, then all liens that were of record when the County took title are thereby reinstated. 27.Evictions, if necessary, are solely the responsibility of the successful bidder after closing and recording of the deed. 28.By acknowledging and executing these Terms & Conditions, the purchaser certifies that he/she is not representing the former owner(s) of the property against whom City of foreclosed and has no intent to defraud City of of the unpaid taxes, assessment, penalties and charges which have been levied against the property. The purchaser agrees that neither he/she nor his/her assigns shall convey the property to the former owner(s) against whom City of foreclosed within 24 months subsequent to the auction date. If such conveyance occurs, the purchaser understands that he/she may be found to have committed fraud, and/or intent to defraud, and will be liable for any deficiency between the purchase price at auction and such sums as may be owed to City of as related to the foreclosure on the property and consents to immediate judgment by City of for said amounts. 29. All information contained in the Auction Brochure and contained within the website of Collar City Auctions Realty & Management, Inc. is supplied for informational purposes only and not guaranteed. Prospective purchasers are urged to fully research any property prior to submission of a proposal or bidding at the auction. Furthermore, all parties agree to hold harmless the City, Auction Company and Auction Company representatives from any errors and or omissions, title issues, injury and or other matter that may arise now or in the future. Seller, Seller s Agents, Auction Company and Auction Company s Agents will not make and hereby expressly disclaims making any warranties or representations whatsoever, expressed or implied, written or oral, with respect to any property, without limiting its disclaimers, seller hereby advises all prospective bidders that it will not make any representations or warranties, express implied or oral, as to the nature or condition, physical or otherwise, of any of the properties or any aspect thereof, including without limitation, any warranties of habitability, suitability, merchantability or fitness for a particular use or purpose; 30. The nature of quality of construction, structural design or engineering or the improvements, or the state of repair or lack of repair of any improvements; 31. The quality of the labor or materials included in the improvements; 32. The soil conditions, drainage, topographical feature, or other conditions of any of the properties which may affect any of the properties with respect to any particular purpose, use, development potential, or otherwise. 33. The area, size, shape, configuration, locations, capacity, quantity, quality, cash flow, expenses, value, condition, or composition of any of the properties. 34. The nature or extent of title to any of the properties, any easements, rights of way, leases. possession, liens, encumbrances, licenses, reservations, contracts, conditions or otherwise that may affect title to any of the properties. All properties shall be transferred by means of a Quit Claim Deed supplied by the City of, NY. 35. Any environmental, geological, meteorological, structural or other condition or hazard or the absence thereof heretofore, now or hereafter affecting in any manner any of the properties, including but not limited to, the absence of asbestos or any environmentally hazardous substance on, in, under, or adjacent to any of the properties; or 36. The compliance of any of the properties with any laws, rules, ordinances or regulations. No claim will be considered for allowance, adjustment or rescission based upon failure of the property to correspond with the buyer s expectations. 37. Purchaser agrees and understands that the 15% Buyer s Premium or Flat Fee and administrative fee is deemed earned by Auction Company upon signing/approval or acceptance by buyer and is non-refundable once bid has been approved by the Common Council. 38. Notice To Real Estate Brokers/Agents: The Auction Company is acting in the capacity of a Real Estate Broker and NOT as a Realtor on the sale of the properties contained herein. The Auction Company is NOT offering any cooperating brokerage fee to any outside brokerage company for producing a bidder or purchaser at this auction. It is recommended that Brokers and/or Agents structure some type of compensation from the buyer they are representing in the capacity of a Buyer Broker. 39. Prospective Purchasers are strongly urged to thoroughly inspect all properties prior to bidding and to verify all property information contained herein. All information is supplied as a guide and is not guaranteed in any manner. 40. The Auction Company, City and its Agents, Servants, Employee s or Agents shall, upon signing by the Bidder as Purchaser, forever be immune from any claim that may arise now or in the future from any personal injury or any type of claim whatsoever by any attendee at any property inspection, during or while at any property for any reason, including the auction site or any property owned or in the control of the City of, NY. 41. PURCHASER S ARE NOT RESPONSIBLE FOR PAYMENT OF ANY BACK TAXES. BACK TAXES ARE FORGIVEN. I/We Agree That I/We Have Read And Clearly Understand The Above Captioned Terms & Conditions And Further Agree To Abide And Be Bound By All Terms & Conditions, Contracts And Addendums. By: June 13, 2018 Bidder as Purchaser By: June 13, 2018 Bidder as Purchaser
7 Buyer s Premium and Administrative Fee Paid on June 13, 2018: $5,250
8 Collar City Auctions Realty & Management, Inc. Licensed & Bonded Auctioneers / Realtors / Appraisers / Consultants / Class 2 Firearm Dealers and Manufacturers 9423 Western Turnpike Delanson, NY NATIONWIDE AUCTION, LIQUIDATION, CERTIFIED APPRAISAL, REAL ESTATE, CONSULTING & MANAGEMENT SERVICES FIRST CLASS MAIL PLEASE RUSH TIME DATED AUCTION MATERIAL REAL ESTATE AUCTION 18 Single Family Homes, Multi-Family Homes, Commercial & Residential Vacant Land REAL ESTATE AUCTION 18 SINGLE BY ORDER OF THE CITY OF RENSSELAER, NY FAMILY HOMES, MULTI-FAMILY HOMES, COMMERCIAL & CITY OF RENSSELAER, NY TAX FORECLOSED PROPERTIES Wednesday, June 13, PM Registration: 5:30 PM AUCTION SITE: City Hall, 62 Washington Street,, NY DIRECTIONS: New York State Thruway EXIT 23 toward DOWNTOWN ALBANY/RENSSELAER/TROY, 2.0 mi, US-9 S/US-20 E exit, EXIT 3, toward RENSSELAER 0.5 mi, Turn SLIGHT RIGHT onto US-20 E/US-9 S/DUNN MEMORIAL BRIDGE. Continue to follow US-20 E/US-9 S. 0.6 mi, LEFT onto BROADWAY 0.2 mi, RIGHT onto 3RD AVE/NY-151, 0.1 mi, RIGHT onto WASHINGTON ST. (Look For Auction Signs)