C-Stores FAQs

A: There are no asking prices or suggested bids on these properties, unless otherwise specified.

A: When you purchase a fee site, you are buying the land and the improvements. When you purchase a leased site, the real estate and building are owned by a landlord. You will pay rent to the landlord per the terms of the lease, a copy of which is included in your bidding information.

A: Potential buyers are required to purchase a Property Specific Package (PSP) in order to place a bid. This is the due diligence information for the property. The information contained in the PSP should be read in full and then used as the basis for your bid price. Further due diligence done by the potential buyers is encouraged if he/she feels it necessary. This can include speaking with attorneys, real estate agents and environmental specialists. It is also recommended that you visit the site prior to placing a bid. However, when viewing sites, bidders should under no circumstance ask questions of store managers or employees. Bidders violating this requirement may be disqualified from bidding.

A: For most sales, a cooperating commission will be paid to brokers who properly register with NRC as the cooperating broker for a buyer who closes on the purchase of a property. Please refer to the Terms and Conditions for each sale for more details.

A: No. While you are required to secure your own financing if you are awarded the bid, you are not required to have a lender prior to placing your bid. If you plan on obtaining financing to purchase the property, we strongly recommend that you arrange your financing prior to making a bid. Leased sites are nearly impossible to finance, so if you plan on buying a leased site, you will need all cash for the purchase price.

A: Please refer to the Terms and Conditions of each sale for details. While some sales include a financing/mortgage contingency, not all sales do. Generally, if you are unable to secure financing within a specified period, you risk losing your Earnest Money Deposit.

A: YES! There are multiple ways you can bid.

• SINGLE BID: A potential buyer submits a bid for one store only. He/she encloses the signed Purchase and Sale Agreement (PSA) and the bid deposit based on the purchase price of the store they are bidding on.
• MULTIPLE BID: This type of bid is intended for bidders who want to purchase more than one store. In this instance, you will send a signed PSA and bid deposit for each property.
• PREFERENCE BID: This type of bid is intended for bidders who want to purchase one store only, but have an interest in several stores. In this case, you would send a signed PSA for each property with a letter stating your numerically ranked store preferences.
• ALL OR NOTHING BID: This bid is for bidders who would like to purchase a group of stores. You would submit a PSA for all stores in the bid and a bid deposit in the amount of 2.5% of the TOTAL BID PRICE. You must provide a separate purchase contract with an individual price for each store. Add all bids together to reach the total bid price.

A: A PSP is a Property Specific Package. They are site specific and are used as the bidder's key to coming to a conclusive and successful bid. The PSP contains some or all of the following information:

• Store Sales Data
• Tank and Line Configurations
• Environmental Reports
• Title Reports
• Permits/Licenses
• Survey/Site Plans
• Bidding Package with bidding instructions, bid envelope and the purchase contract to be signed without alterations

A: Unless otherwise noted, properties that are currently operating may be inspected during normal business hours. UNDER NO CIRCUMSTANCES MAY BIDDERS ASK QUESTIONS OF STORE MANAGERS OR STORE EMPLOYEES. BIDDERS VIOLATING THIS REQUIREMENT MAY BE DISQUALIFIED FROM BIDDING. All pre-bid inspections are limited to non-invasive investigation. Properties that are not currently operating may be inspected by appointment only. Please call NRC at (800) 747-3342, for further information.

A: All bids should include a signed copy of the Purchase and Sale Agreement (PSA) and your bid deposit. Bids should be sent in the bid envelope provided in the PSP to the following address:

All bids should be sent via a certified courier service that guarantees a delivery time and offers tracking capabilities, such as FedEx or UPS. All bids MUST be here by noon on the bid deadline day. U.S. Mail overnight service generally takes 2-3 business days to arrive in our Chicago office.

A: There is generally a 14-day period after the bid deadline during which your bid deposit and offering are irrevocable. The seller uses this time to review bids and determine which bids will be accepted. NRC will notify bidders upon the bid determinations.

A: All bids are stored until the bid deadline. On that day, all bids are opened and processed. Bids are then sent to the seller for further deliberation.

A: If the accepted bidder is to default for any reason, the backup bidder is awarded the site. NRC holds the backup bidder’s deposit until it is certain the accepted bidder will or will not close. If the accepted bidder defaults, the backup bidder is notified of his/her acceptance, the earnest money is deposited into a non-interest bearing account and the closing process begins.

A: A bid deposit is a "good faith" (earnest money) deposit, made in the form of a cashier's or certified check that a buyer is required to submit with a bid. Unless otherwise specified, the bid deposit is 2.5% of the bid amount or $10,000, whichever amount is greater. For example, if your bid is $100,000, your bid deposit should be $10,000. Accordingly, if your bid is $500,000, your bid deposit should be $12,500. Bids that are submitted without a bid deposit are deemed nonconforming and will not be considered.

A: Earnest money is to be sent in the form of either a CASHIER'S or CERTIFIED CHECK made payable to NRC Realty & Capital Advisors, LLC. We do not accept any cash, personal or business checks. We will also accept a wire transfer.

A: As stated above, bids/bid deposits are irrevocable for 14 days after the bid deadline. At the end of this time, or once the seller has determined the high bidders, bidders are notified of their bid status. If their bid was not accepted, the earnest money checks are returned via FedEx Second Day Delivery.

A: Bid deposits are held in a non-interest bearing account until the contract has been executed and a closing date has been scheduled.

A: Fax a letter stating your request and a customer service representative will contact you. Our fax number is 312.278.6900. Please be sure to include your name, phone number, address and the Sale Number for the particular sale on the letter. The Sale Number can be found on the NRC website, on the PSP package or by calling NRC Customer Service.