Guidelines & Limiting Conditions
Pursuant to the Court’s order dated November 5, 2021 in Case No. 30-2021-01201461-CU-BC-CJC, Court appointed Receiver Douglas Wilson, acting solely in his capacity as Receiver over the assets of Synrgo, Inc., will accept “Qualified Overbids” as defined herein through November 22, 2021 at 5:00 p.m. PT as part of the sale process for the real properties located at 590 West Lambert Road and 595 Vanguard Way, Brea, California 92821 (collectively referred to herein as the “Subject Properties”). If the Receiver receives a timely Qualified Overbid from a bidder (a “Bidder”), an auction to determine the successful bidder for the Subject Properties will take place on November 23, 2021 at 11:00 a.m. PT at the offices of Buchalter PC, located at 1000 Wilshire Blvd, Suite 1500, Los Angeles, CA 90017.
Qualified Overbid Guidelines
In order for a Qualified Overbid to be deemed timely, it must at a minimum include the following:
Auction (only if 1 or more Qualified Overbids are received)
In the event a Qualified Overbid is received by the Receiver, the Auction shall proceed as noticed herein. At the Auction, counsel for the Receiver will only accept additional bids from bidders who previously submitted Qualified Overbids (or from the original stalking horse buyer). The increased bids shall be in minimum $50,000 increment amounts, or such other amounts as the Receiver or the Receiver’s counsel deems acceptable.
Court Hearing & Approval
A court hearing will be held on December 13, 2021 at 1:30 p.m. in Department C32 of the Orange County Superior Court to approve the sale of the Subject Properties (the “Sale Hearing”), whereby the Receiver will seek court approval of the winning Qualified Overbid (if received) or for the original, stalking horse bid in the event no Qualified Overbids are received. Any sale is specifically contingent on court approval.
Close of Escrow
Escrow shall close on or before fifteen (15) days after court approval.
Terms & Inspections
By appointment. Please inquire.
Due Diligence / Property Reports & Documents
Available via download at www.lambert-vanguard.com/documents
Co-Op Brokerage Fee
There is a co-op broker fee of two percent (2%) of the purchase price. This fee is offered to a broker representing a buyer whose purchase is approved by the Court and who closes escrow on the Property.
All Inquiries & Bids to be Submitted to: