Vacant Land Auction 

The Village of Remsen will offer at auction on Saturday, November 7, 2012 at 10:00 am at Prospect Road, approximately 49 acres of vacant land adjoining three roadways (Prospect Road, Francis Road, and James Road).

The Oneida County tax map numbers are: #160.000-2-27 and #160.000-1-57.  

The land contains approximately 32,000 board feet of Spruce Saw logs, 17,000 board feet of Mixed Hardwood Saw logs, and 2,800 tons of Whole Tree Fuel chip.

Annoucements:

- Day of sale announcements take precedence over media advertisement.

- The subject premises are not being offered due to mortgage foreclosure, delinquet taxes or finacial encumbrances, but soley to sell unneeded municipal property. An updated Abstractof Title will be provided to the successful bidder by the owner.

-Eligibility Requirements: All registered auction participants will be allowed to participate in the oral bidding process. A bank check in the amount of $6,000.00 on the date of sale will be accepted as a good faith deposit by the successful bidder. (The total deposit shall be ten percent (10%) of the agreed upon successful bid. Any residual balance due shall be providedwithin four (4) business days to the Seller's attourney.

-Bidding Process: Upon reaching the "end of bid" phase, stated owner has the option to reject the final bid or to make one bid of it's own. If the final oral is acceptable to owner, the closing is expected to be completed within thirty (30) days.

-Penalty for backing out after the auction: An offer to Purchase (draft copy attached) shall be signed by the successful bidder and the owner further defining closing details, responsibilities and schedules. Failure of buyer to follow through will result in the forfeiture of $6,000.00 of the toal of the "good faith deposits" as and for liquidated damages.

-Premsies shall be conveyed by Municipal Quitclaim Deed.

-Be informed: Bidders are encouraged to contact the Village Clerk to arrange an inspection of the properrty.

More information can be obtained by contacting the Village of Remsen Office during office hours.