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HighlandsRed Risk

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BID #: N/A

ISSUED: 2/7/2023

DUE: 2/10/2023

VALUE: $57,800

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Red Risk

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Executive Summary

The Borough of Highlands is offering Block 47, Lot 10 for public auction, as authorized by N.J.S.A. 40A:12-13 et seq. The property, located in the Central Business District, is an unimproved parcel and sold "AS IS – WHERE IS." Bids must be submitted in a sealed envelope, marked as a bid with the Block and Lot on the exterior, to the Borough Administrator by February 10, 2023, at 10:00 AM. The minimum bid is $57,800.00, and the highest bidder must deposit 10% of the bid price within 10 days of acceptance.

Detailed Risk Breakdown

local preference

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performance bond

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liquidated damages

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1 CLAUSES FOUND

"...In the event that said purchaser shall fail to make settlement within sixty (60) days from the date the bid is accepted, the deposit shall be forfeited as liquidated damages...."

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