Student Housing Opportunity - Eastern New Mexico University-SOLD!

Bank Ordered Sale - Sealed Bid Auction
East New Mexico University Student Housing Opportunity

2 Separate Campus Locations - Sold Together!

Property 1: San Juan Village – Portales, NM
1100 West 17th Street, Portales, Roosevelt County, NM 88130
Click here to see a map

7.5+/- Acre site on the Eastern New Mexico University Main Campus

• 267 beds, within 90 residential apartment units, built in 2007 and very well maintained
• Excellent condition, constructed in 2007
• 4 Rental buildings and a leasing/amenity building with clubhouse with pool, volley ball court, kitchen, study lounge, fitness center, recreation center with billiards, and multi-media area

Property 2: Sierra Vista Village – Roswell, NM
28 West Martin Street, Roswell, Chaves County, NM 88202
Click here to see a map

• The only student housing option situated on the Eastern New Mexico Roswell Campus
• 258 beds, within 108 residential apartment units, built in 2007 and very well maintained
• 3 Rental buildings and a leasing/amenity building with clubhouse with kitchen, study lounge, fitness center, recreation center with billiards, and multi-media area
• Adjacent to Roswell International Airport

Auction: Sealed Bids Due June 21, 2017 by 1 PM

Take the Next Step!
Click here to join the bidders club and download the property information package

I, the undersigned, agree to the following terms and conditions, should I be the high bidder.

1.  Auction Day Requirements:  All bids will be due by Wednesday, June 21, 2017 @1PM delivered via email, fax, FedEx, or hand delivery to Max Spann Real Estate Auction Co., 1325 Route 31 South, Annandale, NJ  08801.  In the event the Seller selects a proposal, the successful bidder will be required to submit a 10% deposit of the total purchase price within 5 business days of receiving signed contract.  The remaining balance will be due at closing.  All bidders must be pre-registered.  NO EXCEPTIONS PLEASE!

2.  I recognize that this is an Auction Sale and is not subject to an attorney review period.  I will review the contract of sale prepared by Seller’s Counsel prior to the auction.

3.  I have read the terms of this sale posted on the premises, printed on the sale brochures and said terms are incorporated herein by reference, as are any public announcements made sale day.

4.  I agree to review the Property Information Packet prior to attending Auction.

5.  A Buyer’s Premium of 10% of the Bid Price will be added to the bid price and become the Final Contract Price. The successful high bidder will be required to sign a contract of sale immediately upon the conclusion of the auction.  The properties are being sold subject to Seller’s Confirmation and Acceptance.

6.  If any check given in payment is not honored for any reason, I agree, whether said check be signed by me as maker or endorser, that if such check is placed in the hands of any attorney for collection, to pay all reasonable attorney’s fees, together with all costs of suit in the event is instituted.

7. Bidder represents warrants and acknowledges that the property is being auctioned by Max Spann Real Estate & Auction Co.  (“Spann”) in an "AS IS" and "WHERE IS" condition subject to all faults, and specifically and expressly without any warranties, representations or guarantees, either express or implied, of any kind, nature, or type whatsoever from Spann in its own capacity or as the agent, servant or employee of the seller of the property.  Bidder further acknowledges that Spann has not made any independent investigation of the condition of the property or examined, verified or confirmed the validity of any information, documents, literature, maps or sketches, pro-forms, or any other written documents provided in the Property Information Packet

                Bidder and Bidder’s heirs, transferees, administrators, personal representatives, trustees, successors and assigns, forever waive, release, discharge and hold Spann harmless, from any claim it has, might have had, or may have against Spann with respect to:

                                a.             The condition of the Premises, either patent or latent, of any nature whatsoever, including environmental contamination;

                                b.             Buyer's ability or inability to obtain or maintain building permits, temporary or final certificates of occupancy or other licenses for the use or operation of the Premises, and/or certificates of compliance for the Premises;

                                c.             The actual or potential income or profits to be derived from the Premises;

                                d.             Any other state of facts which exist with respect to the Premises which at the time of closing were not the subject of actual knowledge on the part of Seller