| 1. How do I make an offer on a property?
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| Go to the sample Letter
of Intent ("LOI") form. The form Purchase and Sale Agreement
for each property is also posted on the this website. Complete the
LOI form and return it via email on the Buyer's letterhead to cfinfo@cfwy.com.
All business term negotiations should be conducted directly with
the Seller. Once the Seller and Buyer have reached an agreement
as to the material terms of the sale, your LOI will be forwarded
to Seller's counsel to be drafted into the form Purchase and Sale
Agreement posted on the website. |
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| 2. How do I gain access to the property?
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| If the property has a security guard you may
schedule an appointment to visit the site. You will be required
to give your name and present a business card or other form of identification.
Please contact the real estate department at cfinfo@cfwy.com
to schedule an appointment. |
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| 3. How do I get due diligence data on a
property? |
| Go to "Current Properties
For Auction". At the bottom of the page you will find instructions
to obtain Alta Surveys, Environmental Summaries, Appraisals and
Commitments For Title Insurance for some of the larger properties.
Should you have additional questions relating to environmental conditions
at most of the Consolidated Freightways' owned locations, contact
Blymyer Engineers, Inc. -- mike_lewis@blymyer.com
or 510. 521.3773. |
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| 4. What if there is no due diligence information
available for the property that I wish to inspect? |
| Due diligence data is available on the website
for most of the larger properties and properties that have been
designated to sell in the earlier motions. If no data is posted
on the property that you are interested in, continue to monitor
the website as new data will be posted on a weekly basis. If you
have any further questions contact the Seller at cfinfo@cfwy.com. |
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| 5. If I want to attend the auction (either
in person, or by telephone) and overbid, what do I do? |
| Go to "Bidding
Procedures". Familiarize yourself with the bidding procedures
and how to become a "Qualified Bidder". If you wish to bid, click
on "Request to be
Designated a Qualified Bidder at Auction" and complete
the form. The overbid letter (Request to be Designated as Qualified
Bidder) must be emailed to cfinfo@cfwy.com
or faxed to (360) 448-4314 two (2) business days prior to the auction.
You must also follow the directions as posted, and either send by
cashier's check or wire transfer the "minimum deposit" as posted
on the website. |
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| 6. Can I become a "Qualified Bidder" if
I arrive in person on the day of the auction? |
| Although we do not recommend it, if you fulfill
all the requirements of a Qualified Bidder and you bring a cashier's
check for the minimum deposit on the day of the auction, the Seller
may consider your bid. |
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| 7. Do I have to attend the auction in order
to participate in the bidding? |
| No, you can bid telephonically. Follow the steps
as outlined in Question 5 and become a Qualified Bidder. Once you
become a Qualified Bidder and have posted the deposit you will be
notified of a time and number to call in on for the respective property
that you intend to bid on. |
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| 8. How long will it take to close the property
after the Auction date? |
| The close of escrow should occur on or before
fifteen (15) days after the Auction. |
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| 9. I was the successful bidder at the auction.
How does the close process work? |
| Go to the closing
package for a preview of a vanilla closing package. Specific
direction will come from a representative of the Seller. |
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| 10. I was not the successful bidder at
the auction. How and when do I get my deposit back? |
| The runner-up bidder's deposit will be held until
the close of escrow on the property they bid on. This takes from
10 to 26 days after the auction date. All other
bidders' deposits will be refunded within 5 business days. Further
questions should be directed to tdubuisson@landam.com or suzannebaker@landam.com. |
