 What is sold?
The Federal Deposit Insurance Corporation (FDIC) sells a wide variety of assets from failed banks including loans; real estate such as undeveloped land, hotels, shopping malls, single-family homes, condominiums, and apartment complexes; personal property, including computers, phone systems, furniture, fixtures, and plants; and specialty items such as crystal, china, and antiques.
How items are sold?
Brokers, sealed bid, and sometimes auctions.
How sales are advertised?
Sales are advertised in the Wall Street Journal, trade publications for specialized items, and the local newspapers and broadcast media where the sales will be held.The FDIC office listed on the next page can also provide information on upcoming sales. FDIC does not maintain a national mailing list.
Special restrictions/conditions
Special conditions and restrictions are made on a case-by-case basis and may involve verifying low to moderate income for buyers of certain residential properties, requiring protection of the endangered species on undeveloped property, or insuring proper care for a property that is a national historic landmark. FDIC typically does not finance properties. Guaranteed payment, such as money orders, certified checks, cashier's checks, or cash, is required. FDIC employees may not participate in the sales.
For more information
The best way to obtain information on FDIC auctions and assets for sale is through the FDIC website at www.fdic.gov.
For more information on FDIC sales, including listings of upcoming sales, contact:
FDIC Asset Marketing
Dallas Field Office
1910 Pacific Pl., Ste. 1700
Dallas, TX 75201
(214) 754-0098
1(800)568-9161 toll-free
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