FAIRBANKS NORTH STAR BOROUGH
2026 WEST CHATANIKA RIVER RECREATION LAND SALE
TERMS AND CONDITIONS
TERMS AND CONDITIONS ARE SUBJECT TO MODIFICATION
BY SUBMITTING A BID, YOU AGREE TO THE TERMS AND
CONDITIONS AS POSTED AT THE TIME BID IS SUBMITTED.
BIDDER MUST BE PRE-QUALIFIED TO BID (ALASKA RESIDENT) AND MUST SUBMIT PRE-QUALIFICATION DOCUMENTS NO LATER THAN 5:00pm ON JULY 21, 2026.
ALL SALES ARE FINAL.
THERE ARE ABSOLUTELY NO REFUNDS.
(Bid deposits are returned per auction rules below)
Auction: All sales will be made by auction to the highest bidder. The minimum bid for each parcel has been established at 90% of fair market value each parcel in accordance with FNSBC 20.20.010. Fair market value has been determined by a fee appraiser.
A 5% buyer's premium shall be added to the final sale price. The 5% buyer's premium functions as the commission/fee paid to Public Surplus for conducting the sale, and is paid by the buyer.
EXAMPLE OF PROCESS: A $10,000 winning bid will result in a 5% buyer's premium of $500 for a total final payment of $10,500.
$10,000 bid is made.
5% ($500) is required through credit card hold
$10,000 is the winning bid
Required documents are submitted by winning bidder and approved by the Borough
Purchase and Sale Agreement is signed AND 10% ($1,000) of the bid amount is submitted with verified funds.
The Borough and Buyer are ready to close (30 days).
The remaining 90% ($9,000) AND the 5% Buyer's Premium ($500) for a total of $9,500 is paid with verified funds
This combines with the already plaid $1.000 for a total of $10,500
Winning Bidder's participation and requirements are complete.
The original 5% (500) credit card hold is removed and bidder is not charged.
Borough Records the deed.
Sale complete.
The minimum bid amount does not include the 5% buyer's premium.Winning bidders must be prepared to execute all required documents and otherwise comply with the terms and conditions.
The Fairbanks North Star Borough (Borough) is not obligated to pay any costs incurred by parties participating in the submission or preparation of bids. Per FNSBC 20.20.020, the Borough shall not sell land to a person who is delinquent in the payment of any tax, debt, or obligation owed to the Borough.
Online Registration: Registration open no later than June 21, 2026 on the Public Surplus website and Pre-Qualified via the Borough (https://www.publicsurplus.com). On-line bidding will begin starting June 25, 2026 at 8:00am Alaska time. The auction will close July 24, 2026 5:00 p.m. Alaska time. It will be the responsibility of the Bidder(s) to submit a bid online for one or more parcels and perform under the Terms and Conditions of Public Surplus and the Fairbanks North Star Borough.
Bid Deposits: Fairbanks North Star Borough requires bid deposits in order to ensure fairness to all bidders. The bid deposit amount will be specified in the general description of the subject parcel. Bid deposit(s) are requested via credit card upon submitting a bid. Follow the instructions on the Public Surplus website (https://www.publicsurplus.com). A credit card hold will be placed on each deposit. If you are not a winning bidder, Public Surplus will reverse your deposit (release the credit card hold) once the sale is completed. However, the deposit will be retained by Public Surplus and not refunded if the winning bidder defaults (choosing not to follow through with the sale). The credit card hold will not go towards the purchase price, all funds used to purchase the property must be paid with verified funds. The credit card hold for the winning bidder with be released once the sale is closed.
Deposit Forfeiture: In the event a Bidder(s) does not follow through to properly complete the sales transaction, the bid deposit may be retained by Public Surplus as a deposit forfeiture. If a losing bidder, or a winning bidder that follows through with the sale, the credit card hold will be released back to the bidder. The bidder in any event shall remain responsible for any costs incurred as a result of participation in the sale. The Borough shall not be responsible to pay any expenses for any reason resulting from agreements to which the Borough was not a party. An bidder also may be banned from future Borough land sales and/or banned by the company we use to conduct the auction, in the discretion of the Borough or the company, respectively.
The Borough may retain backup submittals on any parcel. In the event the first submittal fails to properly complete, sign and return all required forms and funds under the terms and conditions required in this brochure, fails to follow through with closing the transaction, or is not qualified to purchase a parcel under the terms and conditions of this brochure, the acceptance of that submittal will be cancelled by the Borough. Subsequent submittals for the same parcel, if any, will be notified based on the next highest bid. This process will continue until the Borough has obtained a qualified Purchaser, or when no backup submittals remain.
Bidding: A bid is an irrevocable offer to purchase property. The Borough reserves the right to pursue all available legal remedies against a non-paying bidder. A bidder is legally and financially responsible for all properties bid upon whether acting as oneself or acting as an agent. All bidders must be 18 years of age or older, an Alaska resident, and a naturalized person (human being, not a corporation). Contact Public Surplus for instructions and questions pertaining to registration.
The winning bidder will be required to submit the below forms within ten (10) business days after the Notice of Award of the successful bid is received:
Purchase and Sale Agreement, signed by Bidder(s)(s)
10% of the purchase price in the form of a cashier's check, certified check or money order payable to the Fairbanks North Star Borough or FNSB.
Recorded Special Power of Attorney (only if Bidder(s) is being represented)
Any other forms as required under the Terms and Condition, Documentation Required section, if applicable.
Must be the person(s) who was pre-qualified to bid.
The Borough is not liable for the failure of any device which prevents a person from participating in any sale. "Device" includes but is not limited to; computers and other equipment to access the internet, hardware, networks, software applications, and web sites.
If any party is the successful Bidder on multiple parcels in a single auction, that Bidder must pay for all parcels. Any attempt to make selective payments will not be allowed and will result in all transactions being deemed in default. The parcels will then be placed for re-offer.
Bidder Qualifications::
A bidder at auction must be an Alaska Resident and must:
provide an emailed copy or the Alaska Driver's License or State-ID card
AND must provide one or more of the following:
Alaska Permanent Fund Dividend (PFD) confirmation of eligibility for current year *Note, a PFD Signature Page or eligibility status of "application received" cannot be accepted as residency proof; or
Employment, Unemployment, or Military records showing residency; or
Current and valid occupational license issued by the State of Alaska; or
Income tax records showing employment in Alaska; or
School records; or
Court or other government agency records.
(B) A person is not a qualified bidder if:
(1) the person is delinquent in the payment of any tax, debt, or obligation owed to the Borough; or
(2) the person is currently in breach or default on any contract or lease for real property transactions in which the Borough has an interest; or
(3) the person is not an Alaska resident, or has not provided sufficient proof of residency.
(C) A bidder must be at least eighteen (18) years of age to participate in the auction and a natural person, not a corporation.
Payment Options after successful bid:
Cash: Full settlement of any balance must be made to the Borough within 30 business days after the successful bidder(s) has been determined to be qualified. If you are the successful bidder(s), and you fail to submit any balance due on your auction purchase per these terms of sale, you will not become the owner of the subject property. Payment must be by cashier's check, certified check or money order. Cashier's checks, certified checks or money orders must be payable to Fairbanks North Star Borough or FNSB. Personal checks, third-party checks, or credit cards will not be accepted.
OF NOTE: The 5% buyer's premium must also be paid by cashier's check, certified check, or money order.
Down Payment. The 10% down payment accompanying the Purchase and Sale agreement (different from the buyer's premium or bid deposit) is non-refundable and will be retained by the Borough if the buyer fails to complete the sale as outlined in the Purchase and Sale Agreement.
Documentation Required: Winning bidder(s) will be required to complete the Purchase and Sale Agreement provided with the notice. Additionally, if a winning bidder(s) is represented by another individual, a Special Power of Attorney form must be completed and recorded in the recording district of the bid parcel and a copy submitted to the Borough.
Closing & Costs: The Borough will schedule closings within 30 business days from the date the Bidder(s) is considered "qualified" by the Borough. At closing, the buyer(s) will pay all remaining balances due including bid amount and the 5% buyer's premium. Payment must be by cashier's check, certified check or money order. Cashier's checks, certified checks or money orders must be payable to Fairbanks North Star Borough or FNSB. Personal checks or third-party checks will not be accepted.
Possession of Property: The successful buyer(s) may take possession of the property after the quitclaim deed has recorded. The Borough has 30 business days to complete recording of the quitclaim deed from the date the successful buyers(s) has been determined to be qualified, all paperwork is complete, and full payment is made using verified funds.
Conveyance: The name(s) listed on the Purchase and Sale Agreement will carry forward to the deed. No names will be added, removed, or changed before the deed is executed.
The Borough's interest in all parcels shall be conveyed by Quitclaim Deed without any warranty, express or implied, which only transfers whatever interest the Borough has in the property at the time of recording. Properties offered in this sale may be subject to any or all of the following: a) reservations, exceptions, easements, rights-of-way, covenants, conditions and restrictions of record or created by operation of law; and b) those additional reservations, exceptions, easements, rights-of-way, covenants, conditions and restrictions, (additional conditions of sale), which will be created at the time of the conveyance from the Borough to the Bidder(s); and c) governmental regulations including, but not limited to, setbacks, use classifications or zoning, special permit requirements; and d) any matters including, but not limited to, improvements, rights-of-way, trails, easements, or encroachments, which would be disclosed to the Bidder(s) by actual inspection or survey of the property. The statements noted within the sale website for each parcel are not intended to be a formal report on the status, access, or title of the parcel, but only note items which may be of interest to Bidder(s).
Title: Bidders(s) are encouraged to consult a title company prior to submitting a bid to determine if title insurance will be available, and at what cost. The Borough will not provide a title policy and is not responsible for clearing title or determining the adequacy of any documents or information needed to do so.
Bidders(s) should be aware that having the ability to obtain a title insurance policy does not necessarily mean the title will be clear of liens and encumbrances. It is important to read and understand all exceptions and limitations of such title commitment and policy. Additionally, the Borough does not guarantee the suitability for any particular use or purpose whatsoever for any of these properties.
Properties may be affected by one or more existing or pending Borough assessments. It is the Bidder(s)'s responsibility to determine and assume all costs for such assessments.
Buyers are responsible for all taxes and special assessments, and other costs/fees for the parcel(s) purchased.
Properties are sold "AS IS - WHERE IS": All properties are offered for sale on a "buyer beware", "where is", and "as is" basis without any representation or warranty, express or implied. It is the responsibility of the purchaser to do their own research as to whether the property may be subject to liens, encumbrances, or restrictions and whether the property is suitable for their intended use.
It is the responsibility of the bidder to contact the State of Alaska, Department of Environmental Conservation for well or septic information and requirements of such, and to determine if any federal, state and local regulations, requirements, and/or permits are required. It is the responsibility of the Bidder(s) to determine and pay for the cost and feasibility of using, extending, and/or connecting to any utility facilities, including electric, natural gas, and telephone, or if public sewer or water systems serves any of the parcels.
It is the responsibility of the bidder to, among other things, investigate and determine the actual size of the parcel and parcel boundaries, applicable regulations, restrictions and potential defects, including those created by prior use, which would affect the use of any parcel offered in this sale. The feasibility and costs to remedy defects, such as obtaining permits, variances, engineered septic systems and the like, should be determined prior to submitting a bid on the parcel. All such costs will be borne by the Bidder(s).
Acreage: The acreage reflected for each parcel is the approximate acreage based on the best information the Borough has at this time. The approximate acreage is typically based on the legal description's gross area and may or may not be adjusted by easements, buffers, submerged areas or wetlands, which may affect a parcel's usability but have not been excluded from the parcel's acreage. Since the Borough makes no warranties, either express or implied, regarding the actual size of the parcel, it is the responsibility of the Bidder(s) to confirm the actual acreage and parcel boundaries to their own satisfaction. The Borough will not adjust a sale by providing other Borough land of equal value in either the same location or another location, nor will it adjust the assessed acreage or price of a parcel at the time of sale, nor provide reimbursement of such for any reason.
Maps: Any parcel and vicinity maps, soil maps, soil interpretation summaries, and plat maps available are a visual representation of data compiled from various sources and are not intended to replace on-ground inspections or actual surveys of the property boundaries. Any physical or geographic features, right-of-way or road locations, acreage and boundaries provided are estimates only. These items may be provided for informational reference only and should not be construed as a factual representation of matters such as access, parcel size, boundaries, soil conditions or capabilities and other matters contained thereon. The Borough assumes no responsibility for completeness or accuracy and makes no warranty, nor assumes any liability whatsoever for the information, or that monumentation indicated on surveys or plats are currently or accurately in place.
Parcel Description: The brief parcel description provided for parcels is for information and identification purposes only. It should not be construed as a complete legal description. The Borough reserves the right to accurately describe the parcel by a complete legal description in the Quitclaim Deed.
Access: It is the responsibility of the Bidder(s) to determine, acquire, locate, construct, maintain and defend the right to use any access route selected for use by the Bidder(s). The requirements for construction and maintenance of roads/trails, drainage systems, and other use of public easement areas shall be the responsibility of the Bidder(s) to determine. Bidder(s)s shall comply with all federal, state and local regulations and requirements.
Research and Inspect Thoroughly Prior to Bid: Bidders are to conduct all due diligence of the property(s) prior to submitting a bid. Bidders are to rely solely on their own investigation of the property(s) they wish to bid on and shall not rely on any information provided to or be provided by the Borough or Public Surplus. By submitting a bid, Bidders approve and accept the Condition of the Property for which they bid and agree to purchase the property and accept the Condition of the Property "AS IS, WHERE IS" with all faults and patent or latent defects.
Zoning, Land Use and Building Regulations: It is the responsibility of the bidder(s) to thoroughly investigate and determine the regulations and requirements that may apply prior to clearing or conducting development activities. Permits from federal, state, borough and local agencies may be required for a variety of activities. While not intended as a comprehensive list, some of the activities that typically are regulated and may require permits are: open burning, installation of wells, and waste water (gray and septic) or manure disposal systems, dredging or filling of wetlands and clearing or constructing improvements near lakes, water bodies, or water courses, appropriation of water, and construction within, or adjacent to, public rights-of-way or easements.
Disclosure: Disclosures in residential real property transfers Act (AS 34.70) do not apply to the Borough for properties offered in this sale.
Borough Rights Reserved: During this sale, the Borough reserves the right, without notice, to postpone or cancel this sale in whole or in part, and to withdraw parcels from this sale at any time prior to and during the sale period, or prior to closing a transaction. The Borough shall not be liable for any expenses incurred by any parties participating in this sale as a result of, but not limited to, a postponement or cancellation of the sale, or withdrawal of a parcel from this sale. The Borough reserves the right to reject any and all offers not meeting the terms and conditions of the sale or any local ordinances and state statutes.
Withdrawal from Transaction: If the Bidder(s) desires to withdraw from the transaction prior to closing, the request must be made in writing and delivered to the Borough Land Management office no later than five (5) business days from the notification by the Borough of being a qualified bidder. Acceptance of said withdrawal is at the sole discretion of the Borough. In the event an Bidder(s) does not follow through to properly complete the sales transaction, the bid deposit may be retained by Public Surplus as a deposit forfeiture.