Parkwood UMC Two-Stage Sealed-Bid Auction of Real Estate

What is a ‘Sealed-Bid Auction’?

A sealed-bid auction is a type of auction process in which all bidders submit sealed bids to the owner, so that no bidder knows how much the other auction participants have bid. The highest bidder is usually declared the winner of the bidding process. In a two-stage sealed-bid mechanism, the auction is won by the bidder who provides the highest bid across the two stages. The highest bid from Round 1 will be used as the bid reserve (minimum acceptable bid) for Round 2. Bidders will be given the opportunity to revise (upward) their Round 1 bid to submit a “best and final” Round 2 bid based upon the knowledge of the Round 1 high bid.

ROUND 1

BID & BID Deposit Due:      On or before Friday, January 12, 2018 at 5 PM

Bid Opening:                         On Monday, January 15, 2018 at 8:40 PM

High Bid Announcement:    On Monday, January 15, 2018 at 9 PM

ROUND 2

BID Due:                                On or before Friday, February 2, 2018 at 5 PM

Public Bid Opening:             On Monday, February 5, 2018 at 8:40 PM

High Bid Announcement:    On Monday, February 5, 2018 at 9 PM

Download Bid Package.

Bid Package  Appendices:                                                                                        …7

1. NC Residential Property And Owners’ Association Disclosure Statement
2. NC Mineral And Oil And Gas Rights Mandatory Disclosure Statement
3. Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards
4. Inspection Report – Central Carolina Home Inspections
5. Structural Inspection Report – Jeffrey Moss, PE
6. Foundation Repair Records and Warranty – Regional Waterproofing
7. Parkwood Homeowners’ Association Covenants

Sealed Bid Auction Liquidation Sale Offering

Available immediately, split-level single-family home in Parkwood – A comprehensive homeowner’s inspection and a structural inspection have been performed. The bid package includes inspection reports and foundation repair records. Lifetime foundation repair warranty will convey to the buyer. Parkwood UMC will pay the transfer fee for the foundation repair warranties. Purchaser acknowledges that purchaser has had the opportunity to inspect the house and that sale is on an “AS IS”, “WHERE IS” basis.

Property Details

Property Address:       112 Radcliff Circle

Durham, NC 27713

Parcel ID:                    153498

Subdivision:               Parkwood Sec 04

Neighborhood:            Parkwood

Acreage:                     0.279

Square footage:          1,953

Year Built:                  1963

Bedrooms:                  4

Bathrooms:                 3