A $25,000 Cashier’s Check (at time of registration) to participate. These funds must be presented as a deposit immediately at the time of successful bid. Deposit check is made payable to AJ Willner Auctions.
Balance of Payment
Balance of Payment is due by 3PM next day via wire transfer or cashier’s check made payable to AJ Willner Auctions.
Transfer of License
Auctioneer to hold all money in Trust Account pending transfer of license. Buyer of License is responsible for costs associated with transfer of license and must comply with all state & local rules & regulations.
License is being offered free & clear of all liens, liquor bills & taxes.
Bankruptcy Court Confirmation
Sale is subject to Bankruptcy Court approval.
As-Is, Where Is
Liquor License is being sold “as is, where is” with no contingencies. Auctioneer and Owner make
s no implied warranties or guarantees regarding the condition, description and/or marketability of the liquor license. Please consult with an attorney, the NJ ABC and the City of Lodi, NJ clerk’s office regarding regulations. Auction is not subject to a place to place or person to person transfer.
No Buyer Premium applies to the sale of the license.
High Bidder is Bound to Their Bid
Immediately after the auction, the high bidder agrees to enter into a Sale Agreement. In the event the high bidder fails to close, or these terms of sale are not met, Auctioneer reserves the right to resell license, with buyer forfeiting their deposit. In the event of a resale, original buyer will be responsible for any deficiency in sale price.
Bidders must rely on their own due diligence & research. The Owner, the Auctioneers and their Attorneys are not responsible for any errors in mailers or advertising. Please use this information as a guide only.