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BID #: N/A

ISSUED: 2/7/2023

DUE: 2/10/2023

VALUE: $57,800

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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.

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Bids Accepted for Block 47 Lot 10 This Fri., 02/10/2023
PLEASE TAKE NOTICE
that pursuant to N.J.S.A. 40A:12-13 et seq., the Borough of Highlands has authorized the Public Auction of Block 47, Lot 10, which is not needed for public use. Any offers for the property may be made to Michael Muscillo, Borough Administrator, 42 Shore Drive, Highlands, NJ 07732 for not less than the minimum price provided herein. All bids must be submitted in a sealed envelope which is marked as a bid and the Block and Lot shall be placed on the exterior of the envelope.  All bids must be submitted to the Borough of Highlands by February 10, 2023 at 10:00am. Bids submitted after February 10, 2023 will be rejected and returned to the bidder unopened.  The sale will be in accordance with the following terms and conditions.
Click to read full notice.
Nancy Tran
2023-02-07T12:28:14-05:00
02/07/2023
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Document Text

--- Document: Click to read full notice. ---
 
 
PUBLIC NOTICE 
NOTICE OF PUBLIC SALE OF REAL ESTATE KNOWN AS BLOCK 47, LOT 
10 IN THE BOROUGH OF HIGHLANDS, COUNTY OF MONMOUTH, 
STATE OF NEW JERSEY 
 
PLEASE TAKE NOTICE that pursuant to N.J.S.A. 40A:12-13 et seq., the Borough of Highlands has 
authorized the Public Auction of Block 47, Lot 10, which is not needed for public use. Any offers for 
the property may be made to Michael Muscillo, Borough Administrator, 42 Shore Drive, Highlands, 
NJ 07732 for not less than the minimum price provided herein. All bids must be submitted in a sealed 
envelope which is marked as a bid and the Block and Lot shall be placed on the exterior of the 
envelope.  All bids must be submitted to the Borough of Highlands by February 10, 2023 at 10:00am. 
Bids submitted after February 10, 2023 will be rejected and returned to the bidder unopened.  The 
sale will be in accordance with the following terms and conditions.  
 
The premises will be sold subject to Federal, State and Municipal Laws and Regulations including 
the applicable ordinances, easements, conditions, restrictions and rights of way of record and such 
facts as an accurate survey may disclose.  
 
The Property to be sold is described as follows: 
 
Block 47, Lot 10, which is an unimproved parcel located in the Central Business District, is without 
any capital improvements, and subject to all easements and restrictions of record and not of record. 
 
The minimum bid for the Property shall be $57,800.00. 
 
 
The Borough reserves the right to accept the highest responsive bid if equal to or greater than the 
minimum bid price, or to reject all bids and not award to the highest bidder. The Borough reserves 
the right to waive any and all defects and informalities in any proposal, and to accept or reject the 
highest responsible and responsive bid deemed to be in the best interest of the Borough. 
 
The highest bidder will be the purchaser. Within 10 days of notice of acceptance of their bid, the 
highest bidder shall deposit cash, check, or money order in the amount of 10 percent of the bid price 
with the Borough Clerk.  If the highest bidder fails to deposit such amount, the Borough may re-bid 
the Property. 
 
The successful bidder will execute a contract for the purchase of the Property upon completion of 
bidding and its payment of the required deposit.  
 
The sale of the Property shall be made subject to the terms, conditions, restrictions and limitations 
of a contract of sale, which shall include but not be limited to the following terms and conditions: 
 
1) 
The Property is being sold in an “AS IS – WHERE IS” condition. The successful bidder is 
responsible for conducting any and all inspections, surveys, and testing of the Property at its 
own cost and expense. 


 
 
2) 
The Property is sold subject to existing encumbrances, liens, easements, zoning ordinances, 
other restrictions of record, such facts as an accurate survey would reveal and any present 
or future assessments for the construction of improvements benefiting the Property. These 
encumbrances include, but are not limited to, Restrictive Covenants as set forth in Deed 
Book 872 Page 101. A survey of the Property may be conducted by any prospective bidder, 
at its discretion, as part of its due diligence. 
3) 
No representation is made by the Borough as to the utility, usability or environmental 
condition of the Property. 
4) 
The Borough does not guarantee the construction of any road, water or sewer line, curb, 
gutter, sidewalk, drainage facility or other improvement or utility on, at or near the Property 
that is sold.  
 
 
Failure to close title within sixty (60) days of acceptance of the bid, unless such date is extended in 
the sole discretion of the Borough for good cause, shall forfeit to the Borough of Highlands any and 
all money deposited with the Borough. 
 
It is suggested and recommended that the potential bidders perform title searches and/or last 
owner and lien searches on the Property prior to the date of bid submission in order that the 
potential bidder may be adequately apprised of any encumbrances or restrictions of record affecting 
the use and enjoyment of the Property. It is further suggested and recommended that potential 
bidders exercise due diligence with respect to every state of facts including open permits, local fines, 
penalties, taxes, assessments, etc., which may not be of record but which may nonetheless affect 
the use and enjoyment of the Property. The Borough of Highlands shall not be responsible for the 
costs associated with such searches in the event that a bid is rejected. 
 
Parties interested in submitting bids and who require additional information, should contact 
Michael Muscillo, Borough Administrator, 42 Shore Drive, Highlands, NJ 07732. 
 
Acceptance of the bids shall constitute a binding agreement of sale, and the purchaser shall be 
deemed to agree to comply with the terms of conditions of the sale herein contained. 
 
The closing of title to the Property is “TIME OF THE ESSENCE” and must take place sixty (60) days 
from the date of the acceptance of the bid by the Borough Council, unless extended in the sole 
discretion of the Borough for good cause. 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.  
 
The purchaser(s) shall pay the cost of recording fees. 
 
With respect to the sale of the Property herein, NO real estate commission is owed. 
 
The Property is being sold subject to, but not limited by, and facts an accurate survey or the records 
may disclose. The Borough is not making any representations or warranties regarding the Property 
or suitability for any use. 
 


 
 
At closing, the Borough will transfer Borough's rights of ownership of the Property to buyer. This 
transfer of ownership will be subject to (a) easements and restrictions of record; (b) the estate and 
interest, if any, of the United States and/or the State of New Jersey in all lands now or formerly 
flowed by tidewaters; (c) flooding and drainage rights, if any, of adjoining property owners in 
streams or watercourses bounding or crossing the property in any way; (d) rights, public and private, 
in any part of the premises included within the lines of the street or right-of-way; (e) rights of 
adjoining owners; (f) any facts about the land or buildings located thereon which a correct survey 
would disclose; (g) any/all applicable governmental regulations; (h) occupants/tenants of the 
property, if any; (i) any facts which would be disclosed by a title search; (j) environmental 
contamination; (k) the topographic condition of the property, and (l) the possibility of title being 
voided due to an irregularity in the proceedings utilized by Borough to acquire or dispose of the 
property.  
 
The successful bidder will execute the Contract upon acceptance of the bid by the Borough. Failure 
to execute the Contract properly shall not affect the obligation of the successful bidder or the 
validity of the sale. 
 
Notwithstanding anything contained in this notice to the contrary, no representations are being 
made herein that the premises listed for sale is in fact located on an existing paved right-of-way or 
that the Property is in fact “buildable” as defined under the Municipal Land Use Law, Borough zoning 
ordinances, Federal and State wetlands legislation, New Jersey Environmental Clean Up 
Responsibility Act or any other applicable law. The purchaser must verify this information prior to 
bidding. 
 
Any material prepared and distributed in connection with this sale is for convenience purposes only 
and is intended to give prospective bidders a general understanding of the condition, location and 
size of the Property. The Borough of Highlands is not responsible for errors that may appear in such 
materials. Each prospective bidder is urged to thoroughly research and examine the Property prior 
to placing a bid. The Property will be available for inspection by appointment only. Prospective 
bidders desiring to inspect the Property should contact Michael Muscillo, Borough Administrator, 
42 Shore Drive, Highlands, NJ 07732 at (732) 872-1224 x203. 
 
The Borough has compiled this Notice to benefit prospective Bidders. To the best of the Borough’s 
knowledge, the information contained in this Notice is accurate. The Borough and any of its officials, 
officers, employees, assigns, designees, agents or contractors shall not assume any liability for 
inaccuracies and respectfully instructs all interested parties to independently verify this information. 
 
Borough of Highlands 
By: Nancy Tran 
Borough Clerk 
42 Shore Drive 
Highlands, NJ 07732  
(732) 872-1224 x201

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liquidated damages

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"...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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