AUCTION: INVITATION TO BID FOR PROPERTIES WITH VACANT POSSESSION LOCATED ACROSS THE COUNTRY

Application deadline date has been passed for this Job.

Invitation to Bid

Post Date: December 15, 2023

Job Description

INVITATION TO BID FOR PROPERTIES WITH VACANT POSSESSION LOCATED ACROSS THE COUNTRY

ELIGIBILITY TO PARTICIPATE

Bidders are required to complete “Know Your Client” form as part of the bid submission process and to disclose any further information as may be required by the receiving the Sales Agents.

SUBMISSION OF BIDS

Bid must be addressed to the offices of representative any of the Sales Agents for each property listed below.
Deadline for submission of bids is January 31, 2024 at 5:00pm

OPENING OF BIDS

The bids will be opened on February 14, 2024 by 12 Noon, and the venue for the bid opening will be communicated to all eligible bidders.
Bidders and/or their nominated representatives are expected to be present at the opening of the bid.
The highest bid for each property will be the proposed tentative winner SUBJECT to:
To the bid being equal or above the advised reserved price.
The concurrence of the “Selling Party” and the consent of the selling party’s regulator” whose decision in this regard shall be final.
Fraud, failure to fully disclose material facts or misrepresentation of facts/identity of the Bidder shall disqualify the bid at any stage of the bidding process and/or whether or not the bid is declared the tentative winning bid.
In the event that of two or more Bidders having a tie on the highest bid, the said tying bidders shall be required to immediately make a second bid immediately and the highest bidder amongst them shall be the tentative winner, subject to the conditions in (3) and (4) above.
All bids will be announced immediately after the opening.
The return of the certified bank drafts to unsuccessful bidders will be processed within twenty-one (21) days after the bidding closes and tentative winner announced.

BIDDING PROCESS

Disposal of advertised properties will be by competitive bidding and bids must not be below reserved price.
Bids must be made on bid forms and submitted together with a duly completed “Know Your Client” form and 10% of the bid amount in certified bank draft made payable to the agents for respective properties. Bid document and “Know Your Client” forms are to be obtained from the offices of any of the sales Agents.
Bids must be submitted in sealed envelopes with “Bid for Property” and “Bidder’s contact address” marked on the top left corner of the envelope.
Bids made by one Bidder through more than one Sales Agent shall be disqualified.
The successful bidders will be required to pay the 90% balance of the bid within 60 days of the receipt of approval of Sale from the Sales Agents failing which the 10% becomes un-refundable and the Selling party will be free to offer the property to other buyers.
Bids cannot be withdrawn or cancelled once submitted. Where this occurs, the initial 10% deposit becomes non-refundable.
Collusion with a Sales Agent or another bidder(s) to circumvent any bid or the bidding process shall automatically disqualify the bidder, colluding bidder and their bids.
Where the selling party’s regulator declines to accept the winning bid after Ninety (90) days of winning the bid. The funds deposited by the winning bidder shall be returned to the winning bidder.
By participating in this bid, each bidder is deemed to have unconditionally accepted all the terms and conditions stated in this advertisement.
All sales Agents are ‘agents’ of the selling party with respect to this bid advert only.

PROPERTY INSPECTION

Interested bidders can contact the sales agents for guided inspections of the properties and further enquiries. The properties will be sold on “as is basis” (in the condition they presently exist).

LIST OF PROPERTIES UP FOR BID

LOCATION	STATE	PROPERTY TYPE	SIZE (SQM)
159 Oron road, Oron town	Akwa Ibom	Building on 2 floors	900
31 Aba road, Ikot Ekpene town	Akwa Ibom	Building on 2 floors	511
Cameron Road, Ikot Nakanda, Akpabuyo	Cross river	Bungalow	1056
15 Ugep/calabar highway, Ugep	Cross river	Bare land	948
Along old Lagos – Asaba road, Issele-Uku	Delta	Building on 2 floors	1275
Plot 321475 TSahuwar Turunku, Igabi LGA	Kaduna	Bungalow	3742
3/5 Warri street, sabon Gari, Zaria	Kaduna	Building on 2 floors	1018
Zakkari gabasawa district, Kano	Kano	Bungalow	756
Dutsin-Ma, Katsina Road, Kankara	Kastina	Bungalow	1920
Gesse 1, residential Area, Birnin Kebbi	Kebbi	Bare land	4000
38 Enitan Street, Aguda Street, Surulere	Lagos	Bare land	376
397, Old Ojo road	Lagos	Bare land	1200
5 Force Roa, Onikan, Lagos	Lagos	Building on 2 floors	900
248 beside Ibadan way, New Bussa	Niger	Bare land	1490
Owode Ola Roada, Sabo owode	Ogun	Building on 2 floors	1527
Ota-Idi-Iroko road, Idi-Iroko	Ogun	Building on 2 floors	1041
157 Ahoada road, Omoku	Rivers	Building on 2 floors	804
40 Mabera Kanilin Sani way, Mabera	Sokoto	Residential bungalow	1000