$1 NR - Newark, NJ Duplex - Comps to $400k!!!

Access to the property:

Buyer shall only gain access to the property with the authorization of the Seller. Possession to the Property will be granted to the buyer upon the Full Payment of this auction and completion of the terms within.

Buyer Responsibility:

Buyer is responsible for all existing or outstanding liens and encumbrances. Buyer is to pay as defined in these terms or shall be held in default by Bid4Assets and shall be reported as such. If the Buyer Defaults after the initial deposit, the initial deposit shall remain with the Seller as consideration for liquidated damages. Any changes to these terms or to the Purchase Agreement are only acceptable if in writing and agreed to by the Seller.

Seller Responsibility:

The Seller offers the Property for sale in "AS IS, WHERE 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 the Property. No statement anywhere, whether express or implied, shall be deemed a warranty or representation by the Seller regarding the Property. All sales are with the understanding that the Buyer cannot rely on any other representation, warranty or guaranty made by anyone, including the Seller.

General Refund Policy:

All buyers are deemed to have relied entirely on their own information, judgments and inspections of the property in making the decision to purchase the property. Buyer acknowledges and verifies that it has carried out all necessary due diligence in order for Buyer to determine its purchase decision, as properties are sold "As Is". As such, all sales are final, and refunds will not be granted.

Information:

All information derived from third party sources, including but not limited to property assessments, appraisals, county websites, pictures and title reports may be deemed reliable for due diligence purposes, but shall not be guaranteed by Seller or its representatives.

• This auction requires that the winning bidder pay a Buyer's Premium of 10.00% of the winning bid amount, with a $100 minimum. (The Buyer's Premium covers the costs associated with the auction). This amount will be added to the winning bid and will be included in the total purchase price paid by the Buyer to the Seller.

• $400 non-refundable deposit is due within 24 hours.

• Balance (including the transaction costs below) is due within 7 days of Buyer’s receipt of Purchase Agreement from Seller – No Exceptions.

A) Transaction costs:

• $335 deed processing and recording fee

• A Buyers Premium, in an amount equal to10% of the Final Winning Auction Sales price, or a minimum of $100, will be added to the Winning Auction price due to be paid to Seller (ex: $3,000 X 10% =$300. Total $3,300.)

B) Payment may be made by:

• Cash or Bank Check Deposited into Bank of America or BB&T

• Wire transfer

• Certified/Cashier’s Check, Moneygram or Money Order Purchase Contract: In order to complete this, you will need to provide “Vesting” information –

• Individual or Company (include Tax ID#) in which the property is to be titled

• Complete Street address

• Contact Name, email address, phone #, and fax # Once this information is gathered, and Seller receives the Deposit amount, a Purchase Agreement will be sent (via overnight delivery) or emailed to you for your signature. *This Purchase Agreement is required by many counties for recording the deed.

Deed Delivery:

A Quit Claim deed for transfer of the property to Buyer will be prepared by Seller upon receipt of all purchase funds required under the terms of the Auction closing. The Seller will not execute the deed or send for recording unless and until all funds due from Buyer are received by Seller in full. A Quit Claim deed will be sent for recording through a deed recording service. The deed recording process generally takes 2-4 weeks, depending upon the County or Municipality; however, human error may create additional delays. Seller will make its best efforts to have the deed recorded as quickly as possible, upon completion of the transaction. Upon request, Seller will forward a copy of the executed, unrecorded deed to Buyer. Seller will deliver the original, recorded deed to Buyer as soon as possible upon its receipt of same from the governmental office responsible for its recordation.