The following property will be sold through an open auction on 16th June 2018 at 10:30 AM in the Conference Hall, RICBL, Head Office, Thimphu.
Begogang, Bjena Gewog Wangdue Phodrang Dzongkhag
Term and conditions:
1. All interested bidders may inspect the property and register before 16th June 2018, 10:00 AM upon payment of non-refundable entry fee of Nu.300/-. In the event that there are less than 3 registered bidders, the Auction Committee reserves the right to cancel the Auction.
2. The individual bidders will have to deposit an earnest money of Nu.25,000/- (Ngultrum Twenty Five Thousand only) in the form of cash at cash counter, RICB, HO, Thimphu, during the time of Registration.
3. The registered bidders will be provided a token during the time of registration. The bidders must produce the token during the time of auction. No person will be allowed to bid in the auction without the token.
4. The successful bidder shall deposit 25% of the bid value on the day of the auction in the form of cash/cheque and the balance of 75% within 10 days from the date of auction.
5. The unsuccessful bidder’s earnest money will be refunded immediately after the auction.
6. In the event, if the successful bidder fails to deposit 25% of the bid value, then the 2nd highest bidder shall be considered as the successful bidder and the earnest money of the 1st successful bidder shall be forfeited and so on and so forth.
7. In case the successful bidder fails to deposit 75% as stipulated, the 25% bid value adjusted earlier with earnest money deposit shall be forfeited.
8. The successful bidder will not be entitled to possession of the property (ies) until the total purchase price have been fully paid and adjusted.
9. The Auction Committee shall presume that the bidders have duly inspected the property prior to the auction and shall not entertain any complaints thereafter.
10. The successful bidders shall bear all the fees/charges/taxes applicable while transferring the ownership of the property (ies).
11. The Auction Committee reserves the right to reject bids without assigning any reason thereof.
12. The RICB reserves the right to withdraw the property from the list of auction before it is actually auctioned.
13. For more information, kindly contact Legal Division, RICBL, Thimphu at 17998040/77604263