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AUCTION ID #: 428181 Bookmark and Share
USMS: 2003 54' Cruiser Yacht 5470 Express
Item 428181  
Opens In: 16 d 13 hr 23 min
Your Bid Status: Item In Preview
Reserve: Not Met
Status: Preview
Auction Starts: 12-07-09    08:00 AM ET
Auction Closes: 12-09-09    03:00 PM ET
Asset Details
Seller Information
      
Seller Name: USM
Rating: Not Applicable
Location: Cheboygan, MI    49721

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Bid Increment: $11,695
Shipping Cost: SEE DESCRIPTION BELOW
Minimum Bid: $233,850
Auction Type: Regular Auction
Source: Government
Deposit Required: $46,770    
Overtime Period: 5 min
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Deposit Method Availability
Certified Check/Money Order 3 business days from the day it is received by Bid4Assets
Wire Transfer 2 business days from the day it is received by Bid4Assets
Important Note to Bidders. This auction requires bidders to make a deposit prior to placing a bid. Please fund your account well in advance of the auction date. To view funding methods, click on each funding link, or visit our Help Section. To make your deposit, click on your preferred deposit method.
* If Bid4Assets is unable to collect the ACH Deposit from your financial institution for any reason, your account will no longer be considered funded and you will not be permitted to bid on or win the auction without placing a new deposit.
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Asset Information Additional Details Your Bid History

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


Asset Description
The U.S. Marshals Service offers the following asset for auction:
  • A Blue and White 2003 54’ Cruiser 5470 Express.
  • Length: 58’
  • Model Name/Description: 5470 Express
  • Boat Type: VDR
  • Hull Material: Fiberglass
  • Beam: 16’
  • Engine: Two (2), 800 HP, Diesel
  • Amenities Include (but is not limited to):
    • Aluminum Radar Arch
    • Extended Swim Platform
    • Remote Spotlight
    • Cockpit Carpet
    • CD Player
    • Air Conditioning
  • Asset is in good condition.

This is pursuant to a Judgment of Forfeiture by Default dated January 28, 2009.

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 U.S. Marshals Service will not release the asset to the winning bidder until it has been confirmed that all funds have been received, including the initial bid deposit placed in order to bid on this asset. This may take up to ten (10) calendar days from receipt of the total bid amount.

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 Monday, November 30th, between the hours of 9:00 AM and 4:00 PM ET. Please contact inspections@bid4assets.com to schedule an appointment (please include name, telephone number, requested appointment time, and reference auction ID # 428181). Appointments must be scheduled before 12:00 p.m. ET on November 24th. Inspection will take place BY APPOINTMENT ONLY.
Settlement Requirements
  • Certified/Cashier's Check
  • The successful bidder has 24 hours following the close of the auction to sign a Purchase Agreement. The successful bidder has 7 business days to complete the transaction by certified check to the U.S. Marshals Service. The U.S. Marshals Service will not release the asset to the winning bidder until it has been confirmed that all funds have been received, including the initial bid deposit placed in order to bid on this asset. This may take up to ten (10) calendar days from receipt of the total bid amount .If the successful bidder does not perform, the bidder will forfeit his/her/its Bid Deposit to the U.S. Marshals Service. The successful bidder has 10 business days to transfer the asset from the USMS location and will bear the costs and responsibility for the transfer of this asset.

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

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