US Bankruptcy Auction - Luxury Waterfront Condo in the Bimini Sands Resort
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US Bankruptcy Auction - Luxury Waterfront Condo in the Bimini Sands Resort

   

ONLINE AUCTION!

Fisher Auction Company and Coldwell Banker Lightbourn Realty, as exclusive marketing agents, are pleased to offer a Luxury Oceanfront Condominium Unit in the Bimini Sands Resort and Marina in Bimini, Bahamas.

 

PROPERTY HIGHLIGHTS

  • Oceanfront Luxury Condominium in Bimini Sands Resort and Marina, Bimini, Bahamas
  • 990± Square Foot Unit with 1 Bedroom + Loft, 2 Bathroom Floor Plan with Oceanfront Patio
  • Breathtaking Atlantic Ocean Views from Private Balcony
  • Bimini is Known for World Class Diving, Fishing, and Snorkeling
  • Dock Rental available in the protected Marina with an 8’ Controlling Depth with Gas and Diesel Service, Boat Washing Service, Laundry/Shower facility, Fish Cleaning Stations, Ship Store, Wi-Fi, and Restaurant
  • Private Storage Unit and Laundry Facility on premises
  • Spectacular Resort Style Pool/Entertainment area overlooking the Atlantic Ocean with Tiki Hut and Snack Bar
  • Ceiling Fans and Window Treatments Throughout
  • Traveling to Bimini includes regularly scheduled 20 to 40 Minute Commercial Flights from Miami, Fort Lauderdale, Orlando and Tampa to South Bimini Airport(10 Minute Taxi Ride from Property). Private flights are available from Fort Lauderdale Executive Airport and a Ferry Service from Port Everglades in Fort Lauderdale is also an option. Traveling by private vessel would include the following distances from 3 South Florida Ports. Fort Lauderdale- 50 Nautical Miles, Miami- 48 Nautical Miles, West Palm Beach- 70 Nautical Miles

UNITED STATES BANKRUPTCY COURT
FOR THE SOUTHERN DISTRICT OF FLORIDA
(MIAMI, DIVISION)
In re: : CASE NO.: 19-14762-AJC
:
DAVID CARL PFEIFFER, : CHAPTER 7
:
Debtor. :
____________________________________/
ORDER GRANTING TRUSTEE’S MOTION FOR ENTRY OF AN ORDER
(I) APPROVING PROCEDURES FOR THE AUCTION AND SALE OF THE ESTATE’S
INTEREST IN REAL PROPERTY; (II) SCHEDULING AN AUCTION SALE; AND (III)
AUTHORIZING THE TRUSTEE TO SELL THE ESTATE’S INTEREST IN THE REAL
PROPERTY TO THE HIGHEST BIDDER AT THE AUCTION
FREE AND CLEAR OF ALL LIENS, CLAIMS AND ENCUMBRANCES PURSUANT
TO 11 U.S.C. §363(f) [D.E. 83]
THIS MATTER, came before the court on September 10, 2019 at 10:30 A.M. to consider
the Motion of Robert A. Angueira, Trustee, for the entry of an Order (I) Approving Procedures for
the Auction and Sale of the Estate’s Interest in Real Property; (II) Scheduling an Auction Sale;
and (III) Authorizing the Trustee to Sell the Estate’s Interest in the Real Property to the Highest
Bidder at the Auction Free and Clear of all Liens, Claims and Encumbrances Pursuant to 11
U.S.C. §363(f) [D.E. 83] (the “Motion”). The Court considered argument of the Chapter 7 Trustee,
ORDERED in the Southern District of Florida on September 13, 2019.
A. Jay Cristol, Judge
United States Bankruptcy Court
_____________________________________________________________________________
Case 19-14762-AJC Doc 100 Filed 09/13/19 Page 1 of 5
Counsel for Creditor Bimini Sands HOA Phase 3. The Court has reviewed the Motion, the
Amended Objection thereto filed by Creditor Bimini Sands HOA Phase 3 [D.E. 94], and has fully
considered the record in this matter. Having reviewed the Motion and the record herein, finding
that notice was proper and for the reasons stated on the record, FINDS, as follows:
A. The Court has jurisdiction over this case pursuant to 28 U.S.C. §§ 157 and 1334.
This matter is a core proceeding pursuant to 28 U.S.C. § 157(b). Venue is proper before this Court
pursuant to 28 U.S.C. § 1408 and 1409. The statutory basis for relief sought herein is Sections
105(a) and 363 of Title 11 of the United State Code.
B. The findings and conclusions set forth herein constitute the Court’s findings of fact
and conclusions of law under Rule 7052 of the Federal Rules of Bankruptcy Procedure.
C. The proposed marketing and bid procedures as set forth in the Motion and this Order
are appropriate and reasonably calculated to provide all interested parties with timely and proper
notice of the auction.
D. Good and sufficient notice of the Motion and the relief sought therein has been given
under the circumstances, and no other or further notice is required. A reasonable opportunity to
object or be heard regarding the relief provided in this Order has been afforded to creditors and
parties of interest.
E. The Trustee has demonstrated a sufficient basis and compelling circumstances
regarding the auction sale of the Real Property and such actions are appropriate exercises of the
Trustee’s business judgment and in the best interests of the Estate. The auction sale of the Real
Property pursuant to the bid procedures is in the best interests of the estate, creditors, and other
parties in interest.
IT IS THEREFORE ORDERED AND ADJUDGED as follows:
Case 19-14762-AJC Doc 100 Filed 09/13/19 Page 2 of 5
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1. The Trustee’s Motion for the entry of an Order (I) Approving Procedures for the
Auction and Sale of the Estate’s Interest in Real Property; (II) Scheduling an Auction Sale; and
(III) Authorizing the Trustee to Sell the Estate’s Interest in the Real Property to the Highest
Bidder at the Auction Free and Clear of all Liens, Claims and Encumbrances Pursuant to 11
U.S.C. §363(f) [D.E. 83] is GRANTED. The Amended Objection filed by creditor Bimini Sands
HOA Phase 3 [D.E. 94] is OVERRULED WITHOUT PREJUDICE.
2. The Auctioneer is authorized to market the real property described as Bimini Sands
Condominium, Unit 21N, South Bimini Bahamas (the “Real Property”).
3. The bid procedures described in the Motion and in the auction marketing strategic
plan attached as Exhibit “1” to the Motion, (the “Auction Proposal”) are APPROVED and
incorporated herein by reference. The Trustee is authorized to conduct the auction sale on the terms
set forth in the bid procedures, which are incorporated herein by reference.
4. As set forth in the Auction Proposal the Auctioneer will hold an auction which
will run over a two-day period via the Auctioneer’s online bidding platform/ APP (the
“Auction”). Prior to the Auction the Auctioneer will determine the appropriate amount of the
bidding increments.
5. As set forth in the Auction Proposal, marketing expenses are estimated not to
exceed $5,500.00.
6. The Real Property shall be sold to the highest and best bidder with the final bid
price being subject to the Court’s and Trustee’s final approval upon entry of a final sale order.
7. No prospective competitive bidder shall be permitted to bid at the Auction unless
such prospective competitive bidder is a Qualified Bidder. To constitute a Qualified Bidder a
competitive bidder must either deliver a cashier’s check made payable to Robert A. Angueira,
Case 19-14762-AJC Doc 100 Filed 09/13/19 Page 3 of 5
4
P.A. at the Trustee’s law firm located at 16 SW 1 Ave., Miami, FL 33130, or wire into Law Firm
Trust/IOTA Account maintained by Robert A. Angueira, P.A., an initial escrow deposit of Ten
Thousand Dollars ($10,000.00), twenty-four hours prior to the Auction ending time.
8. At the conclusion of the Auction, the Auctioneer, in consultation with the Trustee
and Trustee’s counsel, shall determine and select the person or entity (the “Successful Bidder”)
making the highest and best bid for the Real Property (the “Successful Bid”).
9. The Successful Bidder and if required, the immediate back-up bidders (the “Back
up Bidders”) shall each execute an “as is” and “Non-Contingency-All Cash” purchase and sale
agreement immediately following the conclusion of the Auction. Within twenty-four hours from
the highest and best bid being approved by the Trustee and the Court, an additional escrow
deposit totaling 10% of the total contract price in clear funds shall be made by the successful
bidder by either delivering a cashier’s check made payable to Robert A. Angueira, P.A. at the
Trustee’s law firm located at 16 SW 1 Ave., Miami, FL 33130, or by wire to the Law Firm
Trust/IOTA Account maintained by Robert A. Angueira, P.A.
10. The Trustee shall then file a motion seeking the approval of the sale by the Court
at a hearing (a “Final Sale Hearing”) as soon as reasonably practicable following the conclusion
of the Auction.
11. Unless extended by the Trustee, the closing will take place within thirty (30)
calendar days after the entry of the final sale order approving the sale of the Real Property to the
Successful Bidder. The Successful Bidder shall select an attorney in Bahamas, as required by the
law of Bahamas, to coordinate and prepare all documents required to effectuate the closing.
12. In order to purchase property in Bahamas the government imposes a 10%
governmental fee (the “Governmental Fee”). The Successful Bidder shall be responsible to pay
Case 19-14762-AJC Doc 100 Filed 09/13/19 Page 4 of 5
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the Governmental Fee in its entirety.
13. The Real Property will be sold on an “AS IS” and “WHERE IS” WITH ALL
FAULTS OR DEFECTS WHETHER KNOW OR UNKNOWN AND NO WARRANTIES OR
REPRESENTATIONS WHATSOEVER.
14. To the extent that the stay under Bankruptcy Rule 6004(h) would apply to this
Order, the stay is waived and this Order shall be effective immediately upon its entry.
15. The Trustee is authorized to take all actions necessary to effectuate the relief granted
int his Order. Notwithstanding the preceding, the Trustee shall not be required to execute any
documents other than a Trustee’s Deed to convey the estate’s right, title and interest in the Real
Property to the Successful Bidder.
###
Submitted by
ROBERT A. ANGUEIRA, P.A.
16 S.W. 1st Avenue
Miami, FL 33130
Tel. 305-263-3328
e-mail: yanay@rabankruptcy.com
Copies furnished to:
Yanay Galban, Esq.
(Attorney Yanay Galban is directed to serve copies of this Order upon the Debtor, the Trustee, the Attorney for the
Debtor, the U.S. Trustee, and all parties who have entered an appearance in this case, upon receipt thereof, and to
file a Certificate of Service with the Court confirming such service.)