AUCTION ID #: 417290 Bookmark and Share
USMS: St. Thomas, Virgin Island - Two Unit Property
Item 417290  
Winning Bid: USD $709,350
Number of Bids: 27
Winner: philippians4:13
Reserve: Met
Status: Sold
Auction Started: 07-27-09    08:00 AM ET
Auction Closed: 07-29-09    03:11 PM ET
Asset Details
Seller Information
      
Seller Name: USM
Rating: Not Applicable
Location: Sorgenfri 5-1
St Thomas, VI    00802
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Bid Increment: $14,875
Shipping Cost: SEE DESCRIPTION BELOW
Minimum Bid: $212,500
Auction Type: Regular Auction
Source: Government
Deposit Required:
$42,500  see instructions
Overtime Period: 5 min
Page Views:
Asset was Sold
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PROHIBITED PARTIES

The contractor, its employees, and their families and/or persons acting for and/or on behalf of the contractor are prohibited from bidding on any property offered for sale by the United States Government.

In order to avoid a conflict of interest, or the appearance of a conflict of interest, the following classes of persons are prohibited from purchasing, either directly or indirectly, property forfeited to the United States which is to be sold under this contract or any subcontract to this contract.

To view the entire Prohibited Parties Terms please click here.

View all USMS auctions at Bid4Assets


Item Specifics
 
Residential Properties  
  Address Sorgenfri 5-1
St Thomas, VI 00802
United States
  County St. Thomas
  Lot Size .64 acres
  Annual Taxes $301.21

Asset Description
The U.S. Marshals Service offers the following asset for auction:
  • Subject property is located at Sorgenfri 5-1, No. 1 Southside Quarter, Virgin Island, 00802.
  • Assessor’s Parcel #: 1-02601-0110-00
  • Site area is 0.64 acres +/-
  • Zoning classification for this property is R-1, ½ - acre minimum.
  • Zoning Description is 2 dwelling units.
  • Utilities on site include public electricity, gas via propane, water is via a cistern and the sanitary sewer is via septic. The utilities for this property are typical for the area.
  • This is a detached one and a half story two unit dwelling. The home is new and unfinished. It is unclear as to how many bedrooms the property has because there are a number of rooms within rooms that could be considered large closets. The upper level of the main unit is accessed by a spiral staircase. There is a carport under the main unit and a one (1) bedroom apartment.
  • The property has a patio/deck, fence and a porch. There is a large driveway which can fit three (3) or more vehicles and the carport can hold two (2) vehicles. There are two (2) refrigerators, two (2) range/ovens, one (1) dishwasher, one (1) microwave, one (1) washer/dryer and a trash compactor inside of the home. Unit # 1 consists of 2,920 square feet of gross living area and unit # 2 consists of 440 square feet of gross living area.
  • Because this project is unfinished, structural integrity should be confirmed by a structural engineer. There is evidence of water damage and mold due to overgrown brush and possible leakage.
  • Several conditions exist in the Virgin Islands real estate market that are not common and typical in most markets in the United States mainland. They are as follows:
    • Water is supplied by rainfall collected from the roof and stored in a cistern. This system is a legal building requirement. When rainfall is insufficient, water can be trucked to the site and pumped into the cistern for home use. Public utility water is only available in certain areas of the island.
    • Houses generally do not have insulation due to the temperate tropical climate. Houses do not have heating systems.
    • Most homes use refillable propane tanks for cooking fuel. There is no public gas utility.
    • Most neighborhoods do not have curbs or sidewalks.
    • Zoning allows for commercial uses within many neighborhoods.

This is pursuant to a Amended Order of Forfeiture dated April 6, 2009.


Maps & Area Information

Additional Details
For more information about this asset including photos, specs and more (when available), click here.
Bidding Requirements
To bid on this auction, all bidders are required to become qualified by placing a deposit. The deposit of the winning bidder is automatically transferred to the seller at the end of the auction. If the winning bidder fails to perform on any auction, the entire BidDeposit will be forfeited to the seller.

Non-winning bidders' deposits are refunded within (10) ten business days after the close of the auction. This deposit cannot be applied to other auctions.

To find out more about the BidDeposit requirement, click here.
Additional Terms of Service
Sold by the U.S. Marshals Service, which reserves the right to refuse any bid for any reason. Please see the document "General Terms of Sale" found in the due diligence area for further information. Bidders should conduct their own due diligence to determine value.

The assets offered for sale by the United States Marshals Service are either seized by and/or forfeited to the United States under federal forfeiture laws. All Buyers of these assets must understand that the United States, and/or its agencies, agents, officers, employees, and/or assigns (hereinafter referred to as "Seller") has acquired the subject property through seizure and/or forfeiture, and has little or no direct knowledge concerning the title, nature, value, source, authenticity and/or any other aspect or characteristics of these assets.

THEREFORE, the Seller offers these assets for sale in "AS IS" CONDITION AT THE TIME OF SALE OR CLOSING, INCLUDING ANY HIDDEN DEFECTS OF ANY NATURE, KNOWN OR UNKNOWN, with no representations, warranties or guarantees whatsoever, express or implied, regarding their nature, value, source, authenticity, fitness, merchantability, and/or any other aspect or characteristic of these assets. No statement anywhere, whether express or implied, shall be deemed a warranty or representation by the Seller regarding these assets. All sales are with the understanding that the buyer cannot rely on any other representation, warranty or guaranty made by anyone.

All information derived from third party sources, including but not limited to appraisals, is deemed reliable but not guaranteed.

All buyers are deemed to have relied entirely on their own information, judgments and inspections of the assets in making the decision to purchase the asset.

In addition, all Buyers must agree to release and hold harmless the Seller from any and all demands, rights and causes of action, arising from, or to arise from, or by reason of, the Government's seizure, forfeiture, ownership, possession, management, use, sale and/or transfer of these assets.

Inspection Details
This property will be available for inspection one time only on Tuesday, July 21st, between the hours of 12:00 Noon and 3:00 PM AT. Prospective bidders wishing to inspect this property must send their request to inspections@bid4assets.com (please include name, telephone number, requested appointment time, and reference auction ID # 417290). Prospective bidders wishing to inspect this property must also complete the "Waiver, Release & Indemnity Agreement" located under the Additional Details tab above. Appointments must be scheduled before 12:00 p.m. ET on July 20th. Prospective bidders will not be admitted onto the property without a scheduled appointment and signed waiver agreement. Inspection will take place BY APPOINTMENT ONLY.
Settlement Requirements
Payment Type
  • The successful bidder has 24 hours following the close of the auction to sign a Purchase Agreement. The successful bidder has 30 calendar days to complete the transaction by certified check to the U.S. Marshals Service. If the successful bidder does not perform, the bidder will forfeit his/her/its BidDeposit to the U.S. Marshals Service. The successful bidder will be required to cover any closing costs.

    For assistance, please contact Bid4Assets’ Customer Service team at service@bid4assets.com or 877-4ASSETS (427-7387).