FREQUENTLY ASKED QUESTIONS
WHAT IS A SEALED BID SALE PROCESS?
A Sealed Bid Sale process is one in which the other bidders are not aware of the level of each other’s bids. It allows Sellers to set the terms of the
sale and allows bidders to specify the price they are willing to pay for the property on those terms. The Seller will evaluate the price and may accept
the sealed bid, reject the sealed bid, proceed to negotiate with a bidder of a sealed bid, or solicit best and final offers from bidders. The Terms and
Conditions of Sale for the Sealed Bid process are included in the Property Specific Package (PSP) and on the sale website at
www.nrc.com/powersale.
WHAT IS A PROPERTY SPECIFIC PACKAGE AND WHERE DO I GET ONE?
A Property Specific Package (PSP) is available for each property and includes, where available, maps, site plans and/or surveys, demographics,
environmental reports, financial information, a current title commitment with documents for title exceptions and the Purchase and Sale Agreement.
Some PSPs will be available for download by going to www.nrc.com/powersale, locating the Current PowerSales™, and registering for the sale that
you are interested in. Others may require that you place an order directly with NRC. You may be required to complete a confidentiality agreement in
order to have access to the PSP. For sites where the PSP is available online, fill in the information required to register. You will then be emailed a
confirmation which then allows you access to the website. Return to the website and “Log In”. Find the individual property link that you are
interested in and then click on that link. The PSP will then be available for you to download.
HOW DO I GET ACCESS TO A PROPERTY I AM INTERESTED IN?
Please contact NRC customer service at 800.747.3342 and they will work with you to schedule a preview of the property. Please plan to have any
inspections/appraisals, etc. conducted during this time. Please keep in mind that some properties are leased. We ask that you not disturb the
tenants. For land, feel free to preview at your convenience.
WHAT IS A PREEMPTIVE BID?
A preemptive bid is a bid made online prior to the official bid deadline date by a bidder that is interested in purchasing the property. A preemptive bid
must be placed no later than seven days prior to the bid deadline date. To submit a preemptive bid, a bidder must “Bid Now” online and complete
the paperwork required to formalize the bid. The bid is confidential and not disclosed by the Seller or their agent(s), NRC or NAI to other interested
parties. Making a preemptive bid does not guaranty a purchase or winning bid. The bid is subject to the acceptance by the Seller and execution of a
Purchase and Sale Agreement by all parties. Bidders are notified that either the Seller has accepted their bid or, should the Seller not accept the
preemptive bid, they have the opportunity to let their bid stand for the Bid Deadline.
WHAT DEPOSIT IS REQUIRED?
A bidder submitting a sealed bid should also provide an earnest money deposit in the amount of two and one half percent (2.5%) of the Total
Purchase Price along with the sealed bid. Deposits can be made in the form of certified check or cashier’s check.
WILL I GET CLEAR TITLE TO THE PROPERTY?
All properties will be sold free and clear of all liens and encumbrances except for those ordinary items of record, such as road right of ways, utility
easements, leases, restrictions, etc., unless otherwise noted in the PSP.
WHAT IS THE BUYER’S PREMIUM?
The Buyer’s Premium is a percentage of the winning bid and paid by the buyer at closing and in addition to the purchase price. The amount of the
Buyer’s Premium may vary by site and that information will be available on the Property’s site specific page on the website and will be detailed in the
Purchase and Sale Agreement for the Property.
WHAT ARE THE TERMS OF THE SALE?
The Terms and Conditions for each Sale will be contained in the PSP for each property, available for review on the Sale website, and are
incorporated by reference into the Purchase and Sale Agreement for the Property. All sealed bids are due on the date specified online and in the
PSP. Any unsuccessful bidders’ deposits will be returned.
HOW THE SEALED BID POWERSALE™ WORKS
THIS IS MY FIRST SEALED BID POWERSALE™. HOW DO I PARTICIPATE?
Step 1: Visit www.nrc.com/powersale. Click on the Current Sales link and register. Once you receive your confirmation, return to the site and
login. Click on the property you are interested in to download the Property Specific Package (PSP) if it is available online. If the PSP is not available
online, contact NRC customer service at 800.747.3342 to order your PSP.
Step 2: Review the information contained in the PSP. Since your offer is not contingent upon financing or other matters, you must do any required
due diligence and line up your financing before submitting your offer. We recommend your legal counsel review the Purchase and Sale Agreement.
Step 3: Bidders have two convenient options for bidding:
1) Where available, complete a “Bid Now” online bid no later than seven (7) days prior to the bid due date and submit the completed
Purchase and Sale Agreement and required deposit to NRC prior to the Bid Deadline;
2) Completely fill out the Bid Form and Purchase and Sale Agreement and submit along with the form any other documents required per
the Terms and Conditions.
Step 4: When sending in a Bid, be sure to provide the required documentation and certified funds for a two and one half percent (2.5%) deposit to
NRC no later than the Bid Deadline date specified online and in the PSP.
Step 5: Parties submitting a preemptive bid online will be notified no later than two (2) days prior to the bid deadline date as to the status of their
preemptive bid. If your preemptive bid is not accepted, you will still have an opportunity to submit a Bid on or before the bid deadline date. Parties
submitting a Bid will be contacted no later than five business days after the bid closing. If your offer is not accepted, your deposit will be returned.
When a Bidder receives notification that they are the winning bid, they then send the remaining 7.5% deposit within two (2) days of bid acceptance to
NRC, thus bringing their total deposit to ten percent (10%) of the Total Purchase Price.
Step 6: The accepted offer will be moved forward to closing, on or before thirty (30) days from the date of acceptance.