OPEN HOUSE: Sunday, October 22nd 12 to 4PM.

Bankruptcy Auction - A 8,700 Sq Ft, 5 Bedroom, 7 Bath Contemporary Home on 2.3 Acres.

New Date!
This auction was originally scheduled for Monday, Sept 18th and by order of the court has been rescheduled to Wednesday October 25th, 2017

  7 Arrowhead Lane, Saddle River, NJ 07458, US (map)


Preview Date:
  •   Sunday, October 22, 2017 @ 12:00pm
  •   Sunday, October 22, 2017 @ 4:00pm

Welcome to this unique 8700 sf chic contemporary home in Saddle River. Relax and unwind everyday in the spa-like indoor pool/spa area on the ground floor with sauna, fireplace, kitchen and sliding doors looking out across an additional outdoor pool/spa and natural pond that lays to the front of this majestic 2.3 acre property. Situated on a quiet cul-de-sac, this modern classic contemporary features a dramatic entrance foyer with border and centerpiece, large family room with fireplace and bar, modern dining room with built-ins, eat-in-kitchen and breakfast room, powder room, mud and 4 car garage. Level 2 master bedroom suite includes sitting room, huge bathroom, and his/hers closet. There are 4 further bedrooms and 2 additional bathrooms on this level. A lower level also features a bedroom with full bathroom, rec room and storage. A great home for anyone who loves a contemporary style home and the serenity of the property and pond. 

Brokers Protected

Bidding Procedures

Broker Participation Agreement
For Licensed Real Estate Professionals

Sale Contract

Sale Agreement
Please download and review a copy of the auction sale agreement

BIDDING PROCEDURES

QUALIFICATIONS TO BID
All bidders must be in possession of a $100,000 cashier’s check made payable to “Scura, Wigfield, Heyer & Stevens, LLC” to register.  The $100,000 check will be turned over to the auctioneer at registration.  Only bidders in possession of these funds will be allowed on the property.

BUYER PREMIUM
No Buyer Premium applies at this auction. 

10% DEPOSIT
The balance of a 10% deposit due via cashier’s check within 24 hours of the auction. 

CLOSING
Closing must take place within 30 days of auction (time is of the essence).

ATTORNEY REVIEW & CONTINGENCIES
The high bidder shall promptly sign an Asset Purchase Agreement at conclusion of bidding.  There is no attorney review period.  Bids may not be subject to financing, due diligence, zoning, environmental or any other contingency of any kind except the entry of an order approving the Sale pursuant to sections 363(b), (f) and (m) of the Bankruptcy Code and the delivery of insurable title to the buyer free and clear on any liens or encumbrances.  Auction is subject to court confirmation.

DEFAULT OR BREACH OF CONTRACT
Seller reserves the right to resell (buyer forfeiting deposit) the property should the high bidder not post the balance of the 10% deposit within 24 hours of auction or close within 30 days.  In the event of a resale, the original high bidder will be responsible for any deficiency in sale price together with any incurred marketing and administrative costs.

ALL BIDS ARE BINDING
The second highest bidder’s $100,000 deposit check will be held, by the auctioneer, no longer than 7 days. In the event the high bidder does not post the required balance of a 10% deposit within 24 hours of the auction, the second highest bidder being bound to their bid, will be obligated to close at their bid price.

CONDITION OF TITLE
This property is being sold “As-Is, Where- Is” with no contingencies (including but not limited to environmental & obtaining financing).  The property is being sold “Free & Clear” of all liens & taxes.  The auctioneer, trustee and attorneys make no representations of any kind regarding the subject property.  All bidders are bidding based upon their own due diligence.  It is recommended that bidders consult with an attorney in advance of auction to review these bidding procedures and the Asset Purchase Agreement.

PLEASE NOTE: WHILE INFORMATION PUBLISHED IN BROCHURE, NEWSPAPER ADS & OTHER PRINTED HANDOUTS WAS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE THE AUCTIONEERS, TRUSTEE & ATTORNEYS ARE NOT GUARANTEEING THIS INFORMATION. SALE IS BASED SOLELY ON BIDDERS RESEARCH, INSPECTION & DUE DILEGENCE. AUCTIONEER IS NOT BOUND FOR ANY ACTIONS OR STATEMENTS MADE BY ANY PERSON OTHER THAN HIMSELF.

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