AUCTION SALES-Invitation To Bid For Properties With Vacant Possession Located Across The Country

INVITATION TO BID FOR PROPERTIES WITH VACANT POSSESSION LOCATED ACROSS THE COUNTRY

ELIGIBILITY TO PARTICIPATE

Bidders are required to complete “Know Your Client” form as part of the bid submission process and to disclose any further information as may be required by the receiving the Sales Agents.

SUBMISSION OF BIDS

• Bid must be addressed to the offices of representative any of the Sales Agents for each property listed below.
• Deadline for submission of bids is January 31, 2024 at 5:00pm

OPENING OF BIDS

• The bids will be opened on February 14, 2024 by 12 Noon, and the venue for the bid opening will be communicated to all eligible bidders.
• Bidders and/or their nominated representatives are expected to be present at the opening of the bid.
• The highest bid for each property will be the proposed tentative winner SUBJECT to:
• To the bid being equal or above the advised reserved price.
• The concurrence of the “Selling Party” and the consent of the selling party’s regulator” whose decision in this regard shall be final.
• Fraud, failure to fully disclose material facts or misrepresentation of facts/identity of the Bidder shall disqualify the bid at any stage of the bidding process and/or whether or not the bid is declared the tentative winning bid.
• In the event that of two or more Bidders having a tie on the highest bid, the said tying bidders shall be required to immediately make a second bid immediately and the highest bidder amongst them shall be the tentative winner, subject to the conditions in (3) and (4) above.
• All bids will be announced immediately after the opening.
• The return of the certified bank drafts to unsuccessful bidders will be processed within twenty-one (21) days after the bidding closes and tentative winner announced.

BIDDING PROCESS

• Disposal of advertised properties will be by competitive bidding and bids must not be below reserved price.
• Bids must be made on bid forms and submitted together with a duly completed “Know Your Client” form and 10% of the bid amount in certified bank draft made payable to the agents for respective properties. Bid document and “Know Your Client” forms are to be obtained from the offices of any of the sales Agents.
• Bids must be submitted in sealed envelopes with “Bid for Property” and “Bidder’s contact address” marked on the top left corner of the envelope.
• Bids made by one Bidder through more than one Sales Agent shall be disqualified.
• The successful bidders will be required to pay the 90% balance of the bid within 60 days of the receipt of approval of Sale from the Sales Agents failing which the 10% becomes un-refundable and the Selling party will be free to offer the property to other buyers.
• Bids cannot be withdrawn or cancelled once submitted. Where this occurs, the initial 10% deposit becomes non-refundable.
• Collusion with a Sales Agent or another bidder(s) to circumvent any bid or the bidding process shall automatically disqualify the bidder, colluding bidder and their bids.
• Where the selling party’s regulator declines to accept the winning bid after Ninety (90) days of winning the bid. The funds deposited by the winning bidder shall be returned to the winning bidder.
• By participating in this bid, each bidder is deemed to have unconditionally accepted all the terms and conditions stated in this advertisement.
• All sales Agents are ‘agents’ of the selling party with respect to this bid advert only.

PROPERTY INSPECTION

Interested bidders can contact the sales agents for guided inspections of the properties and further enquiries. The properties will be sold on “as is basis” (in the condition they presently exist).

LIST OF PROPERTIES UP FOR BID

SALES AGENT

1. Suleiman Yakubu & Co

Suite 4, 3^rd floor,

Modibbo Girei House C21, Mogasdishu

Business layout, Kaduna

Email: [email protected]

08033495824.

2. Jide Taiwo & Co

Plot 136, Sinari Daranijo street,

Victoria Island, Lagos

Contact person: Patience Ada: 07052090161

Akin Oyeniji: 07052090393

[email protected]

[email protected]

[email protected]

3. Ubosi Eleh & Co

27, Obafemi Awolowo Way, Ikeja

[email protected]

[email protected]

[email protected]

Contact persons: Solomon Kanu: 08075559870

4. Aminu & Partners

Letco House M1, Ahmadu Bello Way, Kaduna

Email: [email protected]

Contact persons: Aminu Patrick: 08033208180

5. Osas & Oseji

Eleganza Biro plaza, 4^th floor, plot 634

Adeyemo Alakija Street, Victoria Island Lagos.

Email: [email protected]

[email protected]

Contact persons: Ifeanyi Okafor: 08030999447

6. Omale & Co

4 Kudang Street, off Monrovia Street,

Aminu Kano crescent, Wuse II, Abuja

Email: [email protected]

Contact person: Emmanuel Adebayo 08168240592