0A

Vacant Commercial Property 0.82 +/- in Size, Zoned M2F2 Flood Fringe 2

Currency:CAD Category:Real Estate / Land Start Price:10,000.00 CAD Estimated At:NA
Vacant Commercial Property 0.82 +/- in Size, Zoned M2F2 Flood Fringe 2
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Items must be paid in full on the day of the sale.

Commercial building walk through for inspection July 24-Aug 20, 2024.

AUCTION DATE: August 22, 2024

PREVIEW ITEMS: August 21, 2024 (10am-5pm CST)

NOTE: ITEMS NOT PICKED UP BY THE DEADLINE WILL BECOME THE PROPERTY OF THE CONSIGNOR, AND NO REFUNDS WILL BE ISSUED UNLESS ARRANGEMENTS HAVE BEEN MADE WITH US.
The description for lot 0A is below the following disclaimer.

Disclaimer:

We will be selling properties (Lots 0A, 0B, and 0C) in the following manner:

Pre-Bidding:

• Lots 0A, 0B, and 0C are open for pre-bidding online until 2 PM PDT on August 22nd, 2024.

Live Online Auction:

• The auction for all items from Lot 1 and onwards will start at 10 AM PDT on the scheduled date and continue until 2 PM.
• At 2 PM, Lots 0A, 0B, and 0C will be opened for live bidding. After these lots are sold (subject to Vendor approval), the auction will proceed until the final item is sold.

Bidding Process for Lots 0A, 0B, and 0C:

• Lot 0A: Bidding will begin at 2 PM. The highest bid will be held.
• Lot 0B: Bidding will commence after Lot 0A. The highest bid will be held.
• Lot 0C: This is a package lot that includes both Lots 0A and 0B. If the highest bid for Lot 0C exceeds the combined highest bids for Lots 0A and 0B, this bid will be held pending Vendor approval, and the bids for Lots 0A and 0B will be canceled.

• If the highest bid for Lot 0C is lower than the combined highest bids for Lots 0A and 0B, the bid for Lot 0C will be canceled, and the bids for Lots 0A and 0B will be held pending Vendor approval.

Deposit Requirements:

• Winner of Lot 0A: Must pay a deposit of $25,000 within 24 hours of family approval.
• Winner of Lot 0B: Must pay a deposit of $25,000 within 24 hours of family approval.
• Winner of Lot 0C: Must pay a deposit of $25,000 within 24 hours of family approval.

Vacant Industrial property with an area of 0.82+/- acres located at 115 Coronation Dr. in the town of Moose Jaw, Saskatchewan sitting conveniently just off the Manitoba Expy. Zoned M2F2 - Heavy Industrial District Flood Fringe 2. The land is an open lot comprised of 9 individual surface parcels (Lots 72-80) 0.1-0.09 +/- acres in size.

Surface Parcel Lots 72-80 :

Lot 72-Blk/Par 138-Plan N4354 Ext 0 – 0.1 Acres
Lot 73-Blk/Par 138-Plan N4354 Ext 0 – 0.09 Acres
Lot 74-Blk/Par 138-Plan N4354 Ext 0 – 0.09 Acres
Lot 75-Blk/Par 138-Plan N4354 Ext 0 – 0.09 Acres
Lot 76-Blk/Par 138-Plan N4354 Ext 0 – 0.09 Acres
Lot 77-Blk/Par 138-Plan N4354 Ext 0 – 0.09 Acres
Lot 78-Blk/Par 138-Plan N4354 Ext 0 – 0.09 Acres
Lot 79-Blk/Par 138-Plan N4354 Ext 0 – 0.09 Acres
Lot 80-Blk/Par 138-Plan N4354 Ext 0 – 0.09 Acres

Terms :

1.PLATFORM: The Online Auction will be accessed on the Internet using the platform of www.liveauctionworld.com via www.directauctions.ca.

2.BIDDERS MUST PRE-REGISTER: All bidders will be required to pre-register prior to participating in the auction and the registration will include confirmation of a valid credit card as well as the collection of Purchaser's Bank and Banker contact information. Bidders will have “Buyer” status by definition as set out in Real Estate Act. Set out by the Saskatchewan Real Estate Commission https://www.srec.ca/pdf/SRECAct.pdf

3.BUYER'S PREMIUM & COOPERATING BROKERS: A Buyer's Premium of 5% will be added to the final bid and will constitute a portion of the selling price. The 5% Buyer's Premium plus GST will be retained by Direct Auctions as commission for their services rendered. Direct Auctions cooperates with other brokers and offers 1% of Final Sale Price as compensation. In order to qualify for the commission the Agent must contact Direct Auctions to register their bidder prior to their client registering as a bidder in the sale.

4.GST: Applicable GST (5%) will be added to the final purchase price and will be calculated into 2 categories: the portion of the selling price that excludes the Buyer’s Premium and the portion that constitutes the Buyer’s Premium.

5.TITLE: The Title(s) shall be free and clear of all encumbrances except those which do not affect the marketability of the property including, but not limited to easements, utility rights-of-way, restrictive covenants and conditions that are normally found registered against property of this nature.

6.AS IS WHERE IS: The ultimate purchaser of the property the “Purchaser” shall accept the Property “AS IS”, “WHERE IS” NO WARRANTIES GIVEN, and “WITH ALL FAULTS” as of the closing date and the Purchaser specifically agrees that the Seller (the “Family”), Direct Auctions and Live Auction World do not make any representations or warranties of any kind whatsoever, expressed or implied, to the Purchaser as to the value, condition or fitness of the Property, environmental or otherwise, or any part thereof or improvements thereon. All descriptions, measurements and acreage provided by the Vendor and Direct Auctions are to be used as a guide only. The Purchaser acknowledges and agrees that it is the Purchaser's sole responsibility to make such legal, factual and other inquiries, inspections and investigations as the Purchaser considers necessary prior to bidding on the Property, and Purchaser will warrant and represent that he shall have satisfied himself as to the location and condition of the Property, and all descriptions with respect thereto, prior to bidding, and that he has had the opportunity to do so.

7.RIGHT TO CANCEL, POSTPONE OR WITHDRAW: Direct Auctions reserves the right to cancel, postpone or withdraw the Property(s) up to the start of the auction.

8. VENDOR APPROVAL: The sale of the parcels/lots are contingent upon the approval of Canaday’s Apparel Ltd. (the “THE VENDOR”). Notwithstanding any bids received and accepted by Direct Auctions during the auction, the final sale will not be considered complete until the Vendor’s Approval has been obtained, which approval may be withheld for any reason or no reason. If the Vendor’s Approval is not granted, the sale shall be considered null and void. The seller will not proceed with the transaction, and the highest bidder (the “BUYER”) will be released from any obligation to complete the purchase.

9. COMPLETION DAY: The Completion Day will be determined as 30 days after the auction has been completed upon, with the subject approval of the Vendor or on another date mutually agreed upon by the Buyer, Vendor and Direct Auctions. The completion, closing and land transfer will be handled by Alex Laird of Stringam Law, located at 351 Central Ave, Swift Current, SK, S9H 0L5. The Purchaser will be required to retain the services of a lawyer to complete the transaction, ensuring the purchase is executed by the agreed-upon closing date ("Completion Day"). The Buyer and the Vendor shall be responsible for their own legal fees and due diligence. Direct Auctions will not be responsible for any associated fees in respect to the completion of sale.

10.SUCCESSFUL BIDDER REQUIREMENTS: Each successful bidder will be required to complete an unconditional Purchase Contract within 48 hours of the closing of the Auction. There is a reserving right to accept or reject the final bid (Vendor’s Approval) by Canaday’s Apparel Ltd. (The VENDOR).

11.DEPOSIT: The Offer is to be accompanied by a $25,000.00 Deposit. Both Offer and Deposit are to be received within 48 hours of the conclusion of the Auction. All Deposits will be held in accordance with the terms of the signed Purchase Contract. The Deposits must be collected by Alex Laird of Stringam Law, held in Escrow pursuant to the completion of sale. The Deposit(s) will be non-refundable.

12.TERMS OF TRANSFER: The Property will be transferred upon Completion Day “AS IS, WHERE IS. NO WARRANTIES GIVEN.” All contracts pertaining to the sale and transfer will be managed by Alex Laird of Stringam Law located at 351 Central Ave, Swift Current, SK, S9H 0L5.

13.SETTLEMENT OF DISPUTES: Direct Auctions may, in the event of any dispute between bidders, determine the successful bidder or re-offer the subject Property for auction. Should there be any dispute after the Auction, The Live Auction World's record of the High Bid and the Purchase Price shall be conclusive to resolve the dispute.

14.LAWS IN OF PROVINCE OF SASKATCHEWAN: The respective rights and obligations of the parties with respect to these Terms and Conditions and the conduct of the Auction shall be governed, enforced and interpreted by the laws of the Province of Saskatchewan, without regard for conflicts of law principles.

15.DISCLOSURE: Direct Auctions is a wholly owned subsidiary of J.L. & Sons Trading Inc. which is an auction house in the Province of British Columbia and is not a real estate brokerage. All legal contracts and agreements pertaining to the completion of the final sale and transfer will be managed by Kelsey Adam of Accord Century 21 Realty located at 163 1st Ave NE, Swift Current, SK, S9H 2B1.