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Real Estate & Restaurant Equipment Auction
Tuesday October 6, 2009 (10AM)

Sylvia's Restaurant
1820 MLK Pkwy SE
Wilson, NC
Directions

This beautiful 8,600 sq. ft. restaurant cannot survive the current economic conditions and must close. The 300 seat dining room is spotless and the quality kitchen equipment in excellent working order.

We will sell the real estate, FIRST, at 10 AM. Immediately after the real estate auction, we will sell all equipment and fixtures in the building.

The property will be offered in multiple tracts and then grouped by the auction company in the best interest of the seller.

Terms & Conditions for Real Estate:

• Tracts will be offered individually and grouped as presented by Auctioneer.
• All liens and/or encumbrances will be settled at closing.
• All tracts will be transferred by General Warranty Deed.
• Seller(s) will be responsible for any survey costs, prior to closing, related to the sale of partial lots and not the entire tract.
• Descriptions and measurements are derived from reliable sources, but are estimates and are not guaranteed.
• Inspection of the buildings is BY APPOINTMENT ONLY. You must call (919) 422-5679 for an appointment.
• ALL RESTAURANT RELATED EQUIPMENT WILL BE SOLD SEPARATELY. This includes, but is not limited to, hood systems, water heater, buffet bars, dishwasher, smoker, walk-in coolers and freezer, sinks, and serving lines.
• Bids should be made based on the bidder(s) inspection and evaluation and not from statements, inducements, or printed materials from ANYONE.
• All tracts are sold subject to confirmation by the Seller, to be given immediately after all bidding has concluded. Seller reserves the right to sell any tract, regardless of bid, based on the seller’s needs and requirements.
• A 5% buyer's premium will be added to the high bid on each tract to be sold, with the bid and buyer’s premium constituting the Contract Sales Price.
• Successful bidder(s) will be required to post a 10% Earnest Money Deposit on each tract sold. This Earnest Money Deposit is non-refundable unless the Seller(s) cannot close on the property as described above.
• The balance is due at closing with 30 days of the Contract Date, at a place designated by the buyer(s), within 40 miles of Wilson, NC.

Terms & Conditions for Equipment & Fixtures:

• The equipment and fixtures will be sold after the real estate, at approximately 10:30 AM.
• All items are sold AS IS, WHERE IS.
• It is the buyer's responsibility to dismantle and remove any and all items purchased.
• A 10% buyer's premium will be charged on each item sold.
• You must pay for your purchases on the DAY OF SALE by cash, good NC check, Mastercard, or Visa.
• All items must be removed by Saturday, October 10.

Map & Directions:

Get directions from Mapquest (opens a new browser window)