200 East 10th Street, Gilroy, CA

 

REAL ESTATE AUCTION

Former Indian Motorcycle Plant
200 East 10th Street, Gilroy, California 95020
300 Miles North of Los Angeles / 80 Miles South of San Franciso
154,000 sq. ft. Office/Warehouse
274,000 sq. ft. Prime Land
 
Auction Date
Wednesday
January 21st, 2004
Time: 1:00 P.M. PST
Photographs of Property
Terms & Conditions html version
AUCTIONEERS
CREDIT MANAGERS ASSOCIATION
40 East Verdugo Ave, Burbank, CA 91502
Phone: (818) 972-5352 / Fax: (818) 972-5301
www.cmaauctions.com
and

 

Photographs of Subject Property, click images to enlarge
   
   
   

 

Auction Location

Historic Strand Theater
7588 Monterey Avenue , Gilroy, California 95020
A few blocks from Subject Property with ample parking
300 Miles North of Los Angeles / 80 Miles South of San Franciso
Bidder Qualification
If you care to be a spectator only, you are more than welcome. If you intend to be an active bidder please note Auction Deposit requirements to be eligible to bid.
 
To obtain a Bidder Number every bidder MUST Present a Cashier's Check in the amount Of One Hundred Thousand Dollars ($100,000.00), drawn on a California bank, made payable to "The Piatelli Co.Trust Account".
Terms of Sale
A total of Ten (10%) Percent down payment which will include the $100,000.00
Cashier's Check plus a company check for the balance of the Non Refundable
Ernest money Auction deposit. Balance at the closing of a 30 day Escrow.
Deposit Receipt and Preliminary Title Report
At the concluision of the auction High Bidder will be required to immediately sign Auctioneers Deposit Receipt and Preliminary Title report and no further
Instructions will be Necessary to close Escrow.
Grant Deed / Title Insurance / Escrow
Seller will convey a Grant Deed to new Buyer through a 30 day escrow to be held at: Chicago Title Co. Gilroy, California

Title will be free and clear of all monetary liens and subject to all existing Conditions, Covenants, Restrictions, Rights of Way, Reservations, Easements, and Zoning of Record.

Closing Costs: Escrow costs will be shared Fifty-Fifty (50/50) between Buyer and Seller. Seller will pay all documentary transfer taxes. Buyer to pay all
other charges, including policy of title insurance for the amount of the
purchase price.
Buyer's Premium

A Six (6%) Percent Buyer's Premium will be added to the Final Purchase Price. That is, the High Bid plus the (6%) will be the final purchase price.

For Example: IF the high bid is $5,000,000, add the 6% Buyer's Premium or $300,000 for a final purchase price of $5,300,000 ; example only.
Broker Cooperation

Broker cooperation is encouraged.

To qualify for a two (2%) percent Co-op commission, the Broker MUST register by mail, fax, or hand delivery the Prospects Name, Address and Telephone number on the Broker's letterhead. The registration letter must be signed by the Prospect and the Broker, and must be received at the Piatelli office in Beverly Hills no later than 1/19/2004.

Broker must also attend the auction with the Buyer and sign the Real Estate Auction Sales Contract, if brokers Client is the high bidder. A Broker cannot act as a principal and a broker on the same transaction.
Inspection

Call Auctioneer's Office to make an appointment to inspect the facility.

Auctioneer's Representatives will be on the site January 16th thru the 20th to show the property.
Bidder Qualification Reminder
To be eligible to bid
Don't forget to bring the $100,000.00 Cashier's Check
Made payable to: The Piatelli Co. Trust Account