Northwood, ND
| Shipping: | No |
| Online Payment: | No |
Property and Assets to be sold to the highest bidder above $50,000!
This is an amazing opportunity to own a turn-key restaurant in a cozy little North Dakota town. This is also a piece of history that has been in operation since 1933!
This auction includes the property & building (fully paid for), the restaurant equipment, and the name. This is a fully operational business that will continue to be open throughout most of the auction!
The building is 2,300 square feet and is rated to seat 65. The building includes a 29' x 25-1/2' dining area; 50' x 8-1/2' storage area; 29' x 11-1/2 overflow dining area/meeting room. The kitchen/food prep areas are not measured because they are several smaller areas all tied together.
Recent upgrades include the fire suppression system in the kitchen and the roof exhaust system. The fire system is an Ansul R-102 wet chemical system installed in January 2022, and the roof vent was installed in 2021. Both of these were expensive upgrades that have kept the building up-to-date.
The restrooms are both simple and clean.
The included equipment includes:
There are a few things *NOT* included:
Property and Assets to be sold to the highest bidder above $50,000. Earnest money of 10% of the final bid price is due within 48 hours of the auction close. This is not refundable, but it will go towards the total amount due. Closing will need to be completed no more than 3 weeks later, by April 13, 2023.
The following buyer fees will be the responsibility of the buyer:
The seller will be responsible for the purchase agreement and the deed preparation.
The closing will take place at "The Title Team" in Grand Forks, and the closing date will be contingent on the payment.
Please contact Jonathan @701-739-1164 for any questions about this sale.
Property and Assets to be sold to the highest bidder above $50,000. Earnest money of 10% of the final bid price is due within 48 hours of the auction close. This is not refundable, but it will go towards the total amount due. Closing will need to be completed no more than 3 weeks later, by April 13, 2023.
The following buyer fees will be the responsibility of the buyer:
The seller will be responsible for the purchase agreement and the deed preparation.
The closing will take place at "The Title Team" in Grand Forks, and the closing date will be contingent on the payment.
Please contact Jonathan @701-739-1164 for any questions about this sale.
| Bid Range | Minimum Increment | ||
|---|---|---|---|
| $0.01 | - | $75.00 | $1.00 |
| $75.01 | - | $150.00 | $5.00 |
| $150.01 | - | $250.00 | $10.00 |
| $250.01 | - | $500.00 | $25.00 |
| $500.01 | - | $1,000.00 | $50.00 |
| $1,000.01 | - | $5,000.00 | $75.00 |
| $5,000.01 | - | $50,000.00 | $100.00 |
| $50,000.01 | - | $75,000.00 | $250.00 |
| $75,000.01 | - | $100,000.00 | $500.00 |
| $100,000.01 | - | $2,500,000.00 | $1,000.00 |
| Buyer's Premium | |||
|---|---|---|---|
| 10.00% | |||
This auction is contracted and managed by: North Country Auctions
Manager: Jonathan Norberg
Property and Assets to be sold to the highest bidder above $50,000. *There is no reserve on this auction!* Earnest money of 10% of the final bid price is due within 48 hours of the auction close. This is not refundable, but it will go towards the total amount due. Closing will need to be completed no more than 3 weeks later, by April 13, 2023.
The following buyer fees will be the responsibility of the buyer:
The seller will be responsible for the purchase agreement and the deed preparation.
The closing will take place at "The Title Team" in Grand Forks, and the closing date will be contingent on the payment.
Online Payment will not be an option for this auction due to the size of the transaction. All payments will need to be via wire transfer. Since there will be two different transactions (earnest money & balance at close), North Country auctions will cover the wire transfer fee of the initial transfer.
Please contact Jonathan @701-739-1164 for any questions about this sale.
This auction is contracted and managed by an independent affiliate. By placing a bid on this auction, you are agreeing to the auction specific terms listed on this page in additions to the K-BID user terms and agreements.
K-BID Online, Inc. (K-BID) is responsible for maintaining the K-BID.com website. K-BID.com serves as the venue used by independent auction companies (Affiliates) to present their online auctions to bidders.
K-BID’s role in the auctions listed on K-BID.com is limited to providing the venue for affiliate auctions. Affiliates are not employees, agents, representatives or partners of K-BID Online, Inc. K-BID’s knowledge about individual auctions and individual auction transactions is limited to the information appearing on the website.
By placing a bid on K-BID.com, bidders are verifying they are at least 18 years old and acknowledging they understand and will comply with both the K-BID.com website terms and the auction specific terms. Bidders MUST NOT share their password or account information with anyone. Bidders are responsible for bids placed on their account.
Inspection dates/times are available for every auction. Bidders are strongly encouraged to inspect prior to placing bids. Removal day is not inspection day. When an auction ends, and the winning bidder invoice appears on the bidder’s dashboard, the bidder is obligated to honor their bid(s).
Every auction item is sold “as is, where is” with no guarantees or warranties. You are responsible for inspecting items prior to purchase.
Bidders are responsible for knowing and complying with auction terms. Failure to comply with removal terms may result in bidding privileges being disabled. Once a bid is placed it cannot be retracted.
Sellers and their agents are prohibited from bidding on their own assets.
Items with a reserve will not be sold unless the reserve price has been met.
At the close of the auction, active items will remain open until no bids have been received for three minutes.
Applicable sales tax will be collected by the affiliate managing the auction.
In the event that bidding rights are terminated due to no-show invoices, bidders MAY be reinstated at the discretion of K-BID only after a penalty fee of 20% of the unpaid invoice(s) and a reinstatement fee of $25.00 has been paid to K-BID and a scanned copy of your driver's license emailed to us. INVOICED ITEMS WILL NOT BE AWARDED. The payment is punitive and meant to deter no-shows. Duplicate bidder accounts will be deactivated when they are determined to exist. If possible and at our discretion, K-BID reserves the right to delete any bid we believe has been placed by a suspect bidder. Any registration that shows up on our fraud detection system may be placed on hold and bids removed until the user is verified. K-BID Online, Inc reserves the right to disallow anybody from bidding on its website. Cases of obvious bidding with no intent to redeem will be referred to appropriate legal authorities.
Affiliates may lower a lot reserve at any time before or after an auction closes. If the reserve is lowered while the auction is in progress, the applicable reserve message will appear below the Next Required Bid information (Reserve Not Met or Reserve Has Been Met); the asset will sell to the high bidder if the lowered reserve amount is met. If the reserve is lowered after the auction closes, the highest bidder at auction close will receive a winning bidder invoice.
Once an auction begins its closing process, outbid notifications will not be sent.
Once a bid is placed it cannot be retracted.
Online Payment will not be an option for this auction due to the size of the transaction. All payments will need to be via wire transfer. Since there will be two different transactions (earnest money & balance at close), North Country auctions will cover the wire transfer fee of the initial transfer.
| Bidder | Placed | High Bid |
|---|---|---|
|
204483 ^
|
Mar 21 08:15pm
| $60,000.00 |
|
432108
|
Mar 21 08:15pm
| $59,750.00 |
|
204483 ^
|
Mar 21 08:15pm
| $59,500.00 |
|
432108
|
Mar 21 08:15pm
| $59,250.00 |
|
204483 ^
|
Mar 21 08:14pm
| $59,000.00 |
|
432108
|
Mar 21 08:14pm
| $58,750.00 |
|
204483 ^
|
Mar 21 08:13pm
| $58,500.00 |
|
432108
|
Mar 21 08:13pm
| $58,250.00 |
|
204483 ^
|
Mar 21 08:12pm
| $58,000.00 |
|
432108
|
Mar 21 08:12pm
| $57,750.00 |
|
204483
|
Mar 21 08:12pm
| $57,500.00 |
|
432108
|
Mar 21 08:11pm
| $57,250.00 |
|
204483
|
Mar 21 08:10pm
| $57,000.00 |
|
432108
|
Mar 21 08:10pm
| $56,750.00 |
|
204483
|
Mar 21 08:10pm
| $56,500.00 |
|
432108
|
Mar 21 08:09pm
| $56,250.00 |
|
204483
|
Mar 21 08:09pm
| $56,000.00 |
|
432108
|
Mar 21 08:08pm
| $55,750.00 |
|
204483
|
Mar 21 08:08pm
| $55,500.00 |
|
432108
|
Mar 21 08:07pm
| $55,250.00 |
|
204483 ^
|
Mar 21 08:06pm
| $55,000.00 |
|
432108
|
Mar 21 08:06pm
| $54,750.00 |
|
204483
|
Mar 21 08:06pm
| $54,500.00 |
|
432108
|
Mar 21 08:05pm
| $54,250.00 |
|
204483
|
Mar 21 08:04pm
| $54,000.00 |
|
432108
|
Mar 21 08:04pm
| $53,750.00 |
|
204483 ^
|
Mar 21 08:03pm
| $53,500.00 |
|
432108
|
Mar 21 08:03pm
| $53,500.00 |
|
204483
|
Mar 21 08:03pm
| $53,250.00 |
|
432108
|
Mar 21 08:02pm
| $53,000.00 |
|
204483
|
Mar 21 08:02pm
| $52,750.00 |
|
432108
|
Mar 21 08:01pm
| $52,500.00 |
|
204483
|
Mar 21 08:01pm
| $52,250.00 |
|
432108
|
Mar 21 07:58pm
| $51,100.00 |
|
432301
|
Mar 21 07:58pm
| $50,850.00 |
|
358211
|
Mar 21 07:56pm
| $50,600.00 |
|
432108
|
Mar 21 03:25pm
| $50,350.00 |
|
432301
|
Mar 21 02:47pm
| $50,100.00 |
|
432108
|
Mar 21 01:02pm
| $50,000.00 |