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Conditions for Personal Property SalesSorry! There are no giveaways. Stories about $100 yachts or exotic cars sold for little or nothing are pure fiction. GSA expects to receive a fair market price, and every item has an undisclosed minimum price. Tax dollars were paid for these items when they were new, and GSA expects to receive the best possible return on the tax dollar when they are sold. No Guarantees GSA does not guarantee the condition of the sale items. Customers have an opportunity and are encouraged to inspect property prior to sale, and GSA will inform a customer of any deficiencies of which GSA is aware. However, GSA is not responsible for any problems that may be identified after the sale. Terms & Conditions of Sale GSA sells used personal property according to the U.S. Government's Standard Form 114C April 2001, "General Sale Terms and Conditions." Customers may ask to review a copy from any of the GSA regional Sales Offices. Please study carefully the terms and conditions in the Invitation for Bid and in any notices provided at auctions and other sales and be sure that any special terms are understood. Payment and Removal Payment is restricted to the following instruments:
Certified checks, bank drafts, and debit cards with dollar limitations and/or requiring a PIN Number, are not acceptable. All checks and money orders must be made payable to the General Services Administration. A personal or company check will be accepted only when accompanied by a bank letter guaranteeing payment. The government does not provide any form of financing. This letter must be on a bank letterhead and must state:
The letter must include the:
Purchasers are required to remove their purchases within the time prescribed for each sale, but merchandise cannot be removed before payment is made. Removal is the purchaser's responsibility. If a purchaser fails to pay and or remove the merchandise by the prescribed deadline, the government will take action to collect damages ($200 or 20 percent of the purchase price, whichever is greater).
Last Reviewed 6/12/2008
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