Details
AUCTION DATE: Saturday, Nov. 4 @ 10:00 am
LOCATION OF AUCTION: Off-site bidding location: Craig Co. Courthouse 182 Main St., New Castle, VA 24127
Property Address: 13978 Potts Creek Rd, Paint Bank, VA 24131
LOCATION OF PROPERTIES: Tract 1 and 2 are located on Potts Creek Rd, Paint Bank, VA. The address for Tract 2 is 13978 Potts Creek Rd, Paint Bank, VA 24131. Tract 1 is located across Potts Creek Rd. from Tract 2. Tract 3 is located on Paint Bank Rd.
PREVIEW DATES: Drive-by inspections only. Potential bidders are not allowed on the property and all inspections will need to be done driving by the properties.
SALES MANAGERS:
Pete Ramsey - 434-258-6611 - pete@countsauction.com
George McDaniel - 434-546-9235 - gmcdaniel@countsauction.com
TYPE OF SALE: ABSOLUTE TRUSTEE AUCTION
PROPERTY INFORMATION:
What's selling:
Tract 1 – 67.836 acres. This tract is mostly an open field with approximately 4,500’ of road frontage on Potts Creek Rd. In addition, Potts Creek runs through the property and becomes the northeastern boundary line. Potts Creek has historically been a great trout fishing stream. The possibilities of this tract are many. It could be used for farming, camping, and other recreational uses (subject to Craig Co. zoning).
Tract 2 – 21.350 acres. This tract has a 1,932’ house with several outbuildings. It has about 2,800’ of road frontage on Potts Creek Rd. In addition, this tract has long road frontage on Paint Bank Rd. There is a small creek that runs through the tract towards Potts Creek. The tract is a mix of open land and wooded.
Tract 3 – 75.328 acres. The tract is all wooded and has long road frontage on Paint Bank Rd. There is a small stream that appears to start on the tract. This tract is ideal for hunting and recreational activities.
Directions:
Tracts 1 and 2 – From Paint Bank General Store (16071 Paint Bank Rd.), go 0.3 miles northwest on Rt. 311 (Paint Bank Rd.) to Rt. 18 (Potts Creek Rd.). Go 0.4 miles on Potts Creek Rd. Tract 1 will be on the right and Tract 2 will be on the left.
Tract 3 – From Paint Bank General Store (16071 Paint Bank Rd.), go 0.7 miles northwest on Rt. 311 (Paint Bank Rd.). The property will be on the left.
164 acres in 3 tracts - 45 miles from Roanoke, 47 miles from Blacksburg, 25 miles from Lewisburg WV. Including a Trout Fishing Stream.
Potts Creek is stocked 8 times between October 1 and May 31.
Potts Creek is located just 2 miles from the Paint Bank State Fish Hatchery and is stocked with Rainbow & Brown trout 8 times a year between the months of October and May. Tract 1 is just southwest of one of the designated stocking areas of Potts Creek.
Terms and Conditions
Terms & Conditions:
A 10% buyer's premium will be added to the final high bid to determine contract price. A sale day deposit of$15,000 per tract in certified funds with the balance due at closing in 30 days. The property is sold in “AS-IS” condition, and is not contingent upon buyer's financing, condition of property, appraisal, inspection, etc. Buyers shall rely on their own information, judgment, and inspection of the property. The property taxes will be prorated to the date of auction. The closing will take place within 30 days of the sale unless specified otherwise or as soon there after as necessary to correct any defects in title. Day of sale announcements take precedence over any previously printed material, or any other oral statements made.
Due Diligence: Any reliance on the content of information provided shall be solely at the recipient's risk. All information is believed to be correct but is not guaranteed. Bidders must conduct and rely solely upon their own due diligence. The property is being sold "AS-IS" with all faults.
Compliance:
For the purpose of ensuring compliance with applicable federal regulations restricting “related party” transactions by Farm Credit of The Virginias, ACA (Bank), Purchaser represents and warrants to Bank that as of the date of this Contract, Purchaser is not an employee, director, or officer of Bank or an immediate family member (meaning spouse, parent, sibling, child, step child, parent-in-law, sibling-in-law, or daughter-in-law) of any employee, director, or officer of Bank.
If Purchaser is a corporation, partnership, limited liability company, or other entity, Purchaser represents and warrants that none of its manager(s) or owner(s) are related parties of Bank as described above, unless Purchaser is a public company whose entity is traded on a national recognized exchange, in which case, only a controlling interest shall be considered for purposes of this representation.
If Purchaser is a trust, Purchaser represents and warrants that neither is trustee(s) nor its beneficiaries are related parties of Bank as described above.
