PREFERENCE BIDS: This type of bid is used when you are interested in several sites, but want to purchase only ONE. In this case, you would send us a signed purchase contract for each property. Please include a letter with your bids, which states which site is your first choice, which site is your second choice, etc. (your preferences) PLEASE CALCULATE YOUR BID DEPOSIT AS FOLLOWS: 2.5% TIMES THE HIGHEST SINGLE OFFERING PRICE OF THE BIDS BEING SUBMITTED.
Example: You want to purchase one of three stores. Your bid on site #1 is $300,000, your bid on site #2 is $400,000 and your bid on site #3 is $500,000. Therefore, your Bid Deposit would be 2.5% of $500,000 and would equal $12,500.
MULTI PREFERENCE BIDS: This type of bid allows you bid on two or more sites, but you have an interest in additional sites. Your bid must include a signed purchase contract for EACH property, your bid price for EACH site, your bid preference, and the total number of sites you want. Your bid deposit is 2.5% or $10,000, whichever is greater, for the TOTAL number of stores you want to buy. Example: You want to purchase three of five stores. You would calculate 2.5% of the highest three bids and submit that amount or $30,000 ($10,000 x 3), whichever is greater.
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