surplus property auction - Department of General Services

SURPLUS PROPERTY AUCTION
THURSDAY, FEBRUARY 25, 2016
3:00 PM
CITY HALL, ROOM 350
BOARD OF PUBLIC WORKS BOARD
ROOM
200 NORTH SPRING STREET
LOS ANGELES, CA 90012
http://gsd.lacity.org/asset/surplus.htm
PRE - REGISTRATION IS MANDATORY
BEGINNING
FEBRUARY 1 - 24, 2016
9:00 a.m. - 5:00 p.m.
KENNEDY WILSON
151 S. El Camino Drive
Beverly Hills, CA 90212
(310) 887-6446
www.kennedywilson.com
AUCTION BIDDER REGISTRATION FORM
Thursday, February 25, 2016
Property Address: ___________________________________________________________
Parcel No. _________________________________________________________________
Bidder Information:
Name: ______________________________________________________________________
(Print)
Last Name
First Name
Middle Initial
Address:
____
___________________________________________________________________________
Email Address:
____
Telephone Number:
Cell Phone Number: _______________________
Driver’s License / I.D. Number:
Are you representing yourself?
(If NO, complete below)
____
Yes
No
I represent:
Relationship:
========================================================================
(To be completed by KW/GSD Staff)
Deposit: $______________
Bank:
Check No.
___________________________________________________
Bidder’s Paddle Number: ______________________
Complete Next Page
Page 1 of 2
PART I: GENERAL INFORMATION
THE VESTING NAME(S) THE PROPERTY WILL BE RECORDED AS OWNER(S):
_____________________________________________________________________________
(Print Clearly)
Mailing Address: _______________________________________________________________
_____________________________________________________________________________
(City, State, Zip)
Agent: ___________________________________ Phone: _____________________________
Fax No.: ______________________________ E-mail: ________________________________
PART II: Put an “X” on How TITLE IS TO BE VESTED
(Vesting information cannot be changed after you have registered.)
a Single Man
a Single Woman
a Married Man
a Married Woman
a Widower (Man)
a Widower (Woman)
an Unmarried Man
an Unmarried Woman
a Married Man as his sole and separate
property
a Married Woman as her sole and separate
property
Husband and Wife as Joint Tenants
(requires both signatures)
A Public Agency
as Tenants in Common
(all parties requires signatures)
a Corporation & Limited Liability Corporation
(requires certified order from the governing body
giving the authority to register/vest and purchase
property)
(require Articles of Incorporation & notarized
order by authorized members of Board of Directors giving
authority to register/vest and purchase property)
Other:
By signing below, I have read and agree to the Notice of Sale and related auction terms and
conditions.
BIDDER SIGNATURE: ____________________________________________________________
Page 2 of 2
LIQUIDATED DAMAGES - CIVIL CODE SECTION 1671
ORDINANCE NO. 183564
COUNCIL FILE NO. 15-0430
AUCTION DATE: February 25, 2016
BIDDER NO. ________________
ADDRESS: _____________________________________________________________________
APN:
_____
DEPOSIT: $ _______________ _________________
PARCEL NO. ______________________
CHECK NO. ________________________
AT SUCH PUBLIC AUCTION SALE, NO BID WILL BE CONSIDERED A SUM LESS THAN THE
MINIMUM PRICE SPECIFIED IN THE NOTICE OF SALE FOR EACH PARCEL AND NO BID
WILL BE CONSIDERED UNLESS THE BIDDER, PRIOR TO THE HOLDING OF SUCH
AUCTION, DEPOSIT WITH THE CITY, AT LEAST TEN PERCENT (10%) OF THE MINIMUM BID
OR $10,000.00 WHICHEVER IS LESS.
WITHIN 10 WORKING DAYS FROM THE AUCTION DATE, BIDDER SHALL MAKE AN
ADDITIONAL DEPOSIT TO MAKE THE TOTAL DEPOSIT EQUAL TO TEN PERCENT (10%) OF
THE PURCHASE PRICE, IN THE FORM OF CASHIER’S CHECK OR CERTIFIED CHECK, AS A
GUARANTEE THAT THE PERSON MAKING SUCH BID WILL PURCHASE AND PAY FOR THE
ABOVE PROPERTY. NO OTHER FORM OF PAYMENT WILL BE ACCEPTED.
UPON THE TERMS AND CONDITIONS HEREIN SPECIFIED AND THE DEPOSIT INCLUDING
ANY INTEREST PAYMENT MADE BY ANY BIDDER TO WHOM THE PROPERTY HAS BEEN
CONFIRMED SOLD SHALL BE RETAINED BY THE CITY AS LIQUIDATED DAMAGES FOR
FAILURE TO COMPLETE SAID PURCHASE.
THE UNDERSIGNED HAS READ, UNDERSTANDS, AND AGREES TO THE LIQUIDATED
DAMAGES PROVISION STATED ABOVE.
_____________________________________
Print Name
__________________________________________
_______________________________________________________________________________
Signature
Date
______________________________________________________________________________
FOR UNSUCCESSFUL BIDDERS: By signing below, I hereby acknowledge that the DEPOSIT for
the above property was RETURNED AND RECEIVED.
_________________________________________________________________________________
Signature
Date
Deposit returned by KW/GSD Staff: ______________________________________________________
DEPARTMENT OF GENERAL SERVICES
REAL ESTATE SERVICES DIVISION
SURPLUS PROPERTY AUCTION
DATE
THURSDAY, FEBRUARY 25, 2016
LOCATION
CITY HALL, ROOM 350
PUBLIC WORKS HEARING ROOM
200 N. SPRING STREET
LOS ANGELES, CALIFORNIA 90012
TIME
3:00 PM
REGISTRATION
All persons interested in bidding at this auction must PRE-REGISTER
beginning February 1, 2016 through February 24, 2016, at
Kennedy Wilson, 1501 S. El Camino Drive, Beverly Hills, CA 90212, from 9:00
a.m. to 5:00 p.m.
DEPOSIT
Upon registration, each bidder must provide a good faith deposit of ten percent
(10%) of the minimum bid or $10,000.00 whichever is less, for each parcel. A
pre-numbered paddle will be given to each registered bidder, which must be used
to indicate a bid at the auction. A $10.00 fee will be charged for replacing lost
bidder paddle. The deposit will be applied to the purchase price of the successful
winning bidder. For all other bidders, the deposit will be returned after the
auction.
Only CASHIER’S CHECKS or CERTIFIED BANK CHECKS made
payable to the City of Los Angeles will be accepted for ALL deposits. NO
EXCEPTIONS.
WINNING
BIDDER
An additional deposit is required within 10 working days from
the date of the auction to make the total deposit equal to ten percent (10%)
of the purchase price. Said deposit(s) shall constitute a guarantee that in the
event the offer of purchase is accepted, the buyer making said offer will complete
the purchase according to the terms and conditions herein specified. In the event
the said offer is accepted and the purchase is completed according to the terms
and conditions thereof, the said deposit(s) shall be credited and applied on
account of the purchase price. In the event the offer is not accepted by the City,
the deposit(s) shall be returned to the buyer.
In the event offer to purchase is accepted by the City, but not completed and
failure in that regard is not caused by any act of or omission of the City or any of
its representatives, all deposit(s) shall be retained by the City as liquidated
damages for failure to complete said purchase and for all costs and expenses
incurred for the necessary proceedings incidental to acceptance of the offer.
Buyer(s) who do not complete the purchase after City's acceptance will be
prohibited from bidding in future auctions for a period of one year.
MINIMUM BID
The minimum bid for each parcel is shown on this Auction Brochure and on the
Ordinance and Notice of Sale. The properties will be sold in the order they
appear in this brochure and the Notice of Sale. Persons wishing to bid on more
than one property must register and deposit the required amount for each
property.
Bidding will be in increments of no less than $1,000.00 from the minimum
opening bid. The auctioneer shall have the discretion of changing the increments
at any time during the auction.
TERMS AND
CONDITIONS
Please refer to the Ordinance and Notice of Sale of Real Property at Public
Auction in this brochure. This is an ALL CASH transaction. No financing is
available through the City of Los Angeles.
The properties for sale are offered in “AS IS” condition. All bidders, by bidding
on the properties are, by such act, expressly agree to purchase the property in an
“AS IS” condition and without warranty as to fitness for use, fitness for a
particular use, or condition of the properties, and that the City has no obligation
to correct any condition of the properties, whether known before or after the date
of the auction. The City is not responsible for any required clean-up, including
but not limited to, the removal of debris or weeds.
For property disclosures, please refer to Exhibit 1, Notice of Sale Property
Description. Any environmental reports, disclosure letters, preliminary title
reports, etc. for each parcel is available for review with the Dept. of General
Services, Real Estate Services Division, 111 E. First Street, Suite 201, Los
Angeles, California 90012, from February 1 – 24, 206 from 10:00 a.m. to 3:00
p.m.
Disclosures are also available on the GSD website:
htttp://gsd.lacity.org/res/surplus.htm.
Should no acceptable bid be received or should the sale not be completed on a
property described in the Ordinance, said property may be re-offered for sale
pursuant to the Ordinance to the second highest bidder at the second highest bid
amount, and if the second highest bidder fails to complete the sale and/or comply
with the conditions of the sale, to the third and then to the fourth highest bidders,
at the third and fourth bid amount, upon the same terms and conditions specified
in the Ordinance and Notice of Sale without further order or permission of the
Council.
OPEN HOUSE
Tuesday, February 9, 2016 from 11:00 a.m. - 1:00 p.m.
Saturday, February 13, 2016 from 12:00 noon - 2:30 p.m.
*Inspection anytime for the vacant lot
PROCESSING
TIME
Estimated to be 60 -90 days from the date of auction. The full balance of
the purchase price and associated costs shall be paid on or before a date that is
three months after the successful bidder has been notified by the Department of
General Services, Real Estate Services Division, that the sale has been
confirmed. If payment is deferred for more than two (2) months after the notice
confirming the sale, interest at one (1) percent per month or fraction thereof
should be charged for each month or fraction thereof in excess of two months. In
the event buyer cannot complete the purchase, the deposit shall be retained by the
City.
FEES
The successful Bidder shall pay one-half (1/2) of the escrow fees and shall
completely pay for all other incidental costs associated with the property(ies)
purchase transaction(s) including, but not limited to, administration fees, auction
fees, survey/environmental disclosure fees, recording fees, documentary transfer
fees, policy of title insurance, messenger fees, broker’s commission, if any, other
real estate transaction taxes, fees, or application where applicable.
Should the successful bidder desire a survey of the property, termite inspection
and any other type of inspections, these can be done by an independent surveyor
and/or inspectors at the bidder’s expense. The title and escrow companies used
for the sale of all properties shall be at the sole discretion of the City of Los
Angeles.
COMMISSION
The City of Los Angeles does not pay real estate/broker fees.
QUESTIONS
OR
FURTHER
INQUIRIES
All inquiries to review reports and/or disclosures relative to the properties and
the proposed sale, please contact:
Kennedy Wilson
151 South El Camino Drive
Beverly Hills, CA 90212
(310) 887-6446
City of Los Angeles, Department of General Services
Real Estate Services Division
111 E. First Street, Room 201, City Hall South
Los Angeles, CA 90012
(213) 922-8547 or (213) 922-8558
Parcel No. 1
Location:
15217 De Pauw Street
Pacific Palisades, CA 90272
APN: 4412-028-900
CD 11
Zone
RD1-1
Approximate Size /
Description
9,710 ± sq ft
Vacant lot
Minimum Bid
$1,325,000.00
Parcel No. 2
Location:
15329 De Pauw Street
Pacific Palisades, CA 90272
APN: 4412-011-902
CD 11
Zone
RD1-1
Approximate Size /
Description
8,154 ± sq ft with one-story
1,578 sq ft single-family
residence built in 1948
3 BR/1 BA
Minimum Bid
$1,325,000.00
Parcel No. 3
Location:
15333 De Pauw Street
Pacific Palisades, CA 90272
APN: 4412-011-901
CD 11
Zone
RD1-1
Approximate Size /
Description
8,432 ± sq ft with one-story
1,902 sq ft single-family
residence built in 1948
2 BR/2 BA
Minimum Bid
$1,325,000.00