For all interested parties there will be an Owens Valley Land Auction in Bishop, California, March 23, 2011 at 9:00 am at the Tri- County Fairgrounds. The Auction will be conducted by the Los Angeles Department of Water and Power.
 
  • 24 Vacant Parcels
 
  • Residential, Light Industrial, and Commercial Lots
 
  • Lot sizes range from .16 to 15.9 acres
 
  • Starting bids range from $22K to $900K
 
The Information Below was pulled from the Los Angeles Department of Water and Power website if you would like additional information and a list of the available parcels you can visit www.ladwpauction.com :
 
  • All persons interested are invited to attend said auction and bid for the properties intended to be sold. Said properties will be called by parcel number, and bids called for each parcel separately, and all persons present who have been designated as qualified bidders may orally bid thereon, provided, however, that each bid, after the first, shall exceed the last previous regular bid for that parcel by not less than One Hundred Dollars ($100) until no person is willing to bid higher.

 

  • Any person wishing to be designated as a qualified bidder must place a deposit with the auctioneer or his/her representative prior to the commencement of bidding on each parcel. Said deposit must be equal to ten percent (10%) of the minimum acceptable bid for the parcel being called, or $10,000, whichever is less. The required deposit must be in the form of a cashier’s check from a bank, credit union, or savings and loan institution made payable directly to the Los Angeles Department of Water and Power. NO PERSONAL CHECKS, ENDORSED CHECKS, CASH, OR MONEY ORDERS WILL BEACCEPTED. At the close of bidding, deposits will be returned to the unsuccessful bidders on that parcel.

 

  • The qualified bidder making the highest regular bid for the parcel then called shall thereupon execute and deliver to the authorized representative of the Los Angeles Department of Water and Power (LADWP) present at said auction a written confirmation of bid on the form provided for that purpose, constituting an offer in writing to purchase for cash for the amount bid as the purchase price of said parcel; all upon the terms and conditions, and subject to the exceptions, reservations, matters, and things herein set forth or referred to, and as contained in the Board Resolution authorizing this sale, and subject to such further matters, if any, as shall have been publicly announced at the commencement of the auction.

 

  •  In addition to the deposit noted above, an additional deposit is required within 10 days of the date of the auction on all parcels selling for more than $100,000. The additional deposit shall make the total deposit held by LADWP equal to ten percent (10%) of the purchase price. Said deposit(s) shall constitute a guarantee that in the event the offer of purchase is accepted, the person making said offer will complete the purchase according to the terms of said offer. In the event said offer is accepted and the purchase is completed according to the terms thereof, the said deposit(s) shall be credited and applied on account of the purchase price; but, in the event the offer is rejected, the deposit(s) shall be returned to the bidder.

 

  • In the event the said offer is accepted but the purchase is not completed and the failure in that regard is not caused by any act or omission of the City or LADWP or any representative of either, the said deposit(s) shall be retained by and become the property of LADWP as and for all costs and expenses incurred for the necessary proceedings incidental to acceptance of the offer. Each written offer so received and accompanied by the required deposit(s) shall be promptly submitted to the Board of Water and Power Commissioners of the City of Los Angeles for acceptance or rejection on behalf of LADWP, and the right to reject any and all bids is hereby reserved.

 

  • When the Board of Water and Power Commissioners of the City of Los Angeles shall have accepted any such offer, there shall be in due course and subject to terms and conditions of sale, executed and delivered to the purchaser, his nominee or assign, upon payment of the balance of the purchase price and any other fees or costs, a Deed granting title to said property, subject to the lien for taxes and assessments then current and unpaid, if any, and subject to the following exceptions and reservations, to wit:

 

  • a) Excepting there from and reserving unto the Grantor all water and water rights, whether surface, subsurface, or of any other kind, and all water and water rights appurtenant or in anywise incident to the real property herein described, or used

 

  • thereon, or in connection therewith, together with the right to develop, take, transport, control, regulate, and use all such water, and reserving unto the Grantor all oil, gas, petroleum, or other mineral or hydrocarbon substances in and under said land, without the right to enter upon the surface of said land for such use.

 

  • b) Subject to the lien for taxes and assessments then current and unpaid, if any; to all easements, rights of way, encroachments, covenants, conditions, restrictions, and reservations; and to all other matters of record; together with pertinent ordinances, rules, or regulations of the County of Inyo
  • c) Appropriate public utility easements shall be reserved as to each parcel at the discretion of LADWP.

 

  • A Policy of Title Insurance, if any be desired by the purchaser, shall be obtained by and at the expense of the purchaser. All property is being sold without warranty or guarantee, either expressed or implied, as to the ground location of property lines, zoning, or encroachments. Each property is available for inspection by bidders prior to the auction. Seller urges all bidders to inspect the property before bidding.

 

  • By bidding on a parcel, the bidder represents to the Seller that bidder has in fact inspected the property to bidder’s satisfaction, knows the condition thereof, and based on that knowledge and inspection, is nevertheless ready, willing, and able to purchase the property.

 

  • SELLER MAKES NO REPRESENTATION OR WARRANTY WHATSOEVER AS TO THECONDITION OR USABILITY OF THE PROPERTY; THE PRESENCE OF ANY DEFECTS,WHETHER APPARENT OR HIDDEN; OR THE FITNESS OF THE PROPERTY FOR USE, OR ITSFITNESS FOR A PARTICULAR USE.

 

  • ENVIRONMENTAL ASSESSMENTS HAVE BEEN CONDUCTED ON ALL PROPERTIES. THEY ARE AVAILABLE FOR REVIEW ON LADWP’S WEBSITE www.ladwpauction.com; OR VISIT OUR OFFICE AT 300 MANDICH STREET, BISHOP, CALIFORNIA TO REVIEW OR PURCHASE A COPY.

 

  •  EACH PROPERTY OFFERED FOR SALE IS OFFERED AND SOLD IN AN "AS IS" CONDITION, AND ALL BIDDERS, BY BIDDING ON THE PROPERTY, ARE, BY SUCH ACT, EXPRESSLYAGREEING TO PURCHASE THE PROPERTY IN AN "AS IS" CONDITION AND WITHOUT ANY WARRANTY AS TO FITNESS FOR USE, FITNESS FOR A PARTICULAR USE, OR CONDITION OF THE PROPERTY, AND THAT THE SELLER HAS NO OBLIGATION TO CORRECT ANY CONDITION OF THE PROPERTY, WHETHER KNOWN BEFORE OR AFTER THE DATE OF THE AUCTION.

 

  • Seller reserves the right to terminate the sale, in its sole and unfettered discretion, without suffering any penalty or forfeiture whatsoever, at any time prior to the actual delivery of the Deed conveying title to the successful bidder. If the Seller exercises its discretion and terminates the sale, bidder shall receive a refund of any deposit theretofore made with the Seller. Possession of property shall not be given prior to close of escrow.
 
If you are thinking of selling property in Bishop, Big Pine or the Eastern Sierra, Eastern Sierra Realty would love to feature your home on this great new site!
 
Randi Pritchard, Real Estate Professional in Bishop California for Eastern Sierra Realty. Reach us at 760-873-4161.