Northwood, ND
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.
Auction Terms Addendum
This auction is contracted and managed by an independent auctioneer. By placing a bid, you agree to both the auction-specific terms listed on this page and the K-BID User Terms and Agreements.
Platform Role
K-BID Online, Inc. (“K-BID”) operates and maintains K-BID.com as a venue for independent auction companies to conduct online auctions.
They are independent entities and are not employees, agents, or representatives of K-BID. K-BID’s knowledge of individual auctions is limited to the information provided on the website.
Bidder Responsibilities
By placing a bid, you confirm that you are at least 18 years old and agree to comply with all applicable terms.
Inspection & Removal
Inspection dates and times are provided for every auction. Bidders are strongly encouraged to inspect items prior to bidding.
Removal day is not an inspection day.
Once an auction closes and an invoice is issued, the winning bidder is obligated to complete the purchase.
Item Condition
All items are sold “as is, where is,” with no guarantees or warranties. Buyers are responsible for their own due diligence.
Buyer’s Premium
If applicable, Buyer’s Premium caps are applied per item, not per invoice.
Auction Process
Compliance & Enforcement
Failure to comply with auction terms, including removal requirements, may result in suspension of bidding privileges.
If bidding privileges are suspended due to unpaid invoices:
Duplicate accounts will be deactivated. Suspected fraudulent activity may result in bid removal, account holds, or permanent suspension. K-BID reserves the right to refuse service to any user and may refer fraudulent behavior to appropriate authorities.
Seller Conduct
Sellers and their agents are strictly prohibited from bidding on their own items.
Sales Tax
Applicable sales tax will be collected by the independent auction company managing the auction.
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 |