NOTICE Public Advertisement info for United States District Court, District Court for the Northern Mariana Islands
Feb., 15, 2022 at 11 am
Case No. 1:20-CV-00034 Court ordered public sale of the leasehold interest for Lot 019 D 61 and Lot 019 D 83 located in Navy Hill, Saipan will be held at the property site February 15, 2022 at 11am. The property has an incomplete 5 story concrete apartment building improvement overlooking the ocean. Bidders must register by contacting saipanhomes@gmail.com Registered bidders will be notified of a viewing date and time and may make available a copy of existing lease. Terms of the sale can be seen at www.saipanservices.com or call the limited receiver at 670-287-4766 for additional information.
Terms of the Sale
(1) Subject properties public sale will be held on February 15, 2022 at 11am on the property site described in public advertisements;
(2) Potential buyers must be registered to attend the sale by emailing saipanhomes@gmail.com;
(3) Potential buyers must submit a One Hundred Thousand US Dollar ($100,000.00 USD) Letter of Credit from a FDIC insured bank or a CNMI escrow agent which may include their own attorney, to the email above or deposit the same amount with the CNMI escrow company;
(4) The winning bidder must deposit into the escrow account established for the Sale, One Hundred Thousand US dollars ($100,000.00 USD) within 72 hours after the auction, if not done so previously, and that bid will be submitted for the Court’s approval;
(5) If the Sale is approved by the Court, the winning bidder will be notified by the Receiver within seven business days of that approval and must submit the balance within ten business days of that notification;
(6) The Initial Deposit is not refundable for any reason should the winning bidder fail to complete the sale;
(7) If the Court does not approve the sale, any funds escrowed will be refunded less the escrow fees and registered bidders may be notified of a second sale as the Court orders;
(8) All registered bidders that escrow funds will be required to pay their own escrow fees
Minimum bid has been established at 200,000. US dollars and bid increments shall be no less than 10,000. US dollars and shall not exceed 25,000. US dollars.
Terms are subject to change as the court orders, times, dates, and location is subject to change.
Disclaimer - Court appointed limited receiver does not offer escrow services, legal services, or legal advisement of any kind.
