Tender Form II to participate in a Foreclosure Sale

Here is an another format for the Tender Form to participate in a Foreclosure Sale this one is simpler than the last one. Tender Sample 1

TENDER FORM

To

Authorized Officer,

ABC Institution,

Branch, City.

Sir,

Sub: Submission of tender for purchase of Immovable property “as is whereas and what is   

         basis” - A/c of  (---Borrower Name---)” .

Ref: Your advertisement dated (---Date---) in (News Paper) Daily News Papers.

  

I/ We submit my/ our tender for purchase of Immovable property offered by you on “as is whereas and what is basis”. I/ We furnish the necessary details as below:

*Mention Individual/ HUF/ Proprietary Concern/ Partnership firm/ Private Limited Company/ Public Limited Company.

Date:

Place:                                                                     SIGNATURE OF THE TENDERER

Terms & Conditions of the Tender:

1.   The offer without EMD will summarily be rejected. The EMD shall be liable for forfeiture without any prior notice, if the successful bidder fails to adhere to the terms of sale, time or commit any default in any manner and the property shall forthwith be sold again.

2.   After opening the tenders, the intending bidders may be given opportunity at the discretion of the authorized officer on the auction date to have, interse bidding to enhance the offer price.

3.   The successful bidder should deposit 25% of the bid amount  (inclusive of EMD) immediately after auction on the same day of the sale by DD drawn as above and the balance bid amount within 15 days from the date of confirmation of sale or such extended period as may be agreed in writing by the authorized officer. In case of default, all amounts deposited till date shall be forfeited and the property shall be resold.

4.   The successful bidder should bear all statutory dues, taxes, charges & also fees payable for conveyance such as stamp duty, registration fees etc. as applicable as per State Stamp Act , ordinance, state circulars and Income Tax Laws.

5.   The authorized officer has absolute right to accept or reject tender or bid any or all the offers and for adjournment/ postponement/ cancel the auction without assigning any reason therefore and also to modify any terms and conditions of this sale without any prior notice.

6.    The sale is subject to confirmation by the Bank.

7.   Possession of the property will be given after full receipt of bid amount.

I/ We have read above terms and condition and accept the same.

Date:

Place:                                                                   SIGNATURE OF THE TENDERER

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