Sale of 'Elan' hotel from Srbobran on December, 15th - starting price 44,1 million dinars

Municipality court in Vrbas, Department of Srbobran, will organize on Monday (December, 15th, 2008) the second public auction for purchase of 'Elan' hotel from Srbobran.

The value of the Hotel was estimated to be 44,1 million dinars, but as this will be 2nd auction, the Hotel can be sold below determined value, but not below two thirds of the value, except if the buyer reaches agreement with the beneficiaries otherwise.

The mortgage for 'Elan' hotel is held by the Department for public incomes, Ministry of finances, because of unpaid taxes and contributions. 'Elan' is a B category hotel, with 52 rooms, three apartments, fitness center, backery, several halls and terraces, and previously maintained a price of 1,1 million euros.

All parties who make a deposit in the amount of 10% of estimated value can participate at the auction, and the buyer is obliged to pay the determined amount in the deadline given by the court. If the buyer does not make the payment in the prearranged deadline, the purchase will be pronounced invalid and another sale will be scheduled.