Instructions To Bidders

For PMA #1463

The basis for disposing of property shall be by competitive bid. No contingency bids will be accepted.

Bid packets shall include a brief description of the property offered, a neighborhood map, an Instructions To Bidders, an Offer Sheet, a Real Estate Purchase and Sale Agreement and a Quit Claim Deed.

The property is to be conveyed AS-IS, WHERE-IS, WITH-ALL-FAULTS, AND WITHOUT ANY WARRANTY WHATSOEVER, EXPRESS OR IMPLIED AS TO ITS CONDITION, ENVIRONMENTAL OR OTHERWISE, OR ITS SUITABILITY OR SUFFICIENCY FOR THE PURCHASER’S INTENDED USES AND PURPOSES.

HOW TO BID:

Potential bidders should carefully review the form of Real Estate Purchase and Sale Agreement and the Quit Claim Deed and exercise due diligence with respect to the property offered for sale. Information for the property, including a preliminary title report, can be reviewed between 9:00 AM and 4:00 PM at the reception desk on the 14^th floor, Alaska Building, 618 2^nd Avenue. The property will be available for inspection on October 9^th  and October 10^th from 10:00 AM to 1:00 PM. Bring a flashlight.     

A bid deposit in the sum of $5,000 in the form of a bank draft, certified check, or bank cashier’s check payable to: CITY OF SEATTLE TREASURER must accompany the Offer To Purchase. No personal or company checks are acceptable.

Bids may be mailed or hand-delivered. The mailing address is Property Bid for 1354 31^st Ave S, Fleets and Facilities Department, 618 2^nd Avenue, 14^th Floor, Seattle, WA 98104. The envelope for hand-delivered bids should be marked “Property Bid for 1354 31^st Ave S”. Bids must be submitted by 2:00 PM on October 20, 2004. Any bid received after 2:00 PM will not be considered.

SELECTION OF WINNING BID:

The successful bidder shall be the one offering the highest, acceptable price and agreeing to the terms of the Real Estate Purchase and Sale Agreement and the Quit Claim Deed. An acceptable price shall be a price above a threshold set by the City of Seattle below which it may reject any and all bids.  The threshold will be based on an opinion of value expressed as a range, and will not be made public prior to the bid opening. If the Office of Housing Director determines that a competitive environment did not exist for the property, the bid or bids may be rejected. Deposits for offers to purchase that are not selected will be returned, uncashed, to the bidder within ten (10) days after the deadline for offers to purchase.

CLOSING:

Sale must be completed within sixty (60) days after the Office of Housing Director selects the highest bidder. Closing will occur at the offices of First American Title Insurance Company located at 2101 Fourth Avenue, Suite 800, Seattle, Washington 98121-2318. Closing costs will be paid as described in the Real Estate Purchase and Sale Agreement.

For further information or to obtain a bid packet  contact the Real Estate Services Unit, Fleets and Facilities Department, 618 Second Avenue, 14^th Floor, Seattle, Washington 98104, or by calling John Kennedy at (206) 684-0357 or David Hemmelgarn at (206) 684-0701. Our email address is: john.kennedy@seattle.gov or david.hemmelgarn@seattle.gov 

Bid Packet