All bidders must be in possession of a $10,000 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 David Wolff, Trustee.
Balance of Payment
Balance of Payment is due by within 24 hours of auction.
Transfer of License
Buyer of License is responsible for costs associated with transfer of license. Buyer must comply with all state & local rules & regulations.
License is being offered free & clear of all liens, liquor bills & taxes.
As-Is, Where Is
Liquor License is being sold “as is, where is” with no contingencies. Auctioneer makes 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 Little Falls, NJ clerk’s office regarding regulations. Auction is not subject to a place to place or person to person transfer.
2021 License Renewal
The subject license was renewed in July 2020. The NJ ABC requires the renewal of all liquor licenses by July 30th every year. The July 2021 renewal and associated costs will be the sole responsibility of the purchaser, regardless of whether or not the license transfer takes place in advance of the renewal date.
10% Buyer’s Premium applies.
Bankruptcy Court Confirmation
Acceptance of high bid is subject to trustee and / or court confirmation.
High Bidder is Bound to Their Bid
Auctioneer reserves the right to resell license, with buyer forfeiting their deposit, if these Terms of Sale are not met. 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. Auctioneers and Attorneys are not responsible for any errors in mailers or advertising. Please use this information as a guide only. Thank you for attending this auction.