Details
AUCTION DATE: Friday, April 19, 2024 @ 12:00 noon
LOCATION OF AUCTION: Off-site bidding location: Russell County Fairgrounds, 237 Donnie Dean Dr., Castlewood, VA 24224
PROPERTY ADDRESS: 3045 Reed Valley Rd, Castlewood, VA 24224 (Russell Co)
CLICK THE EXTERNAL LINK TO SEE A VIDEO https://drive.google.com/file/d/1sxx2-_erHeqC4Swfq6Nfm9w-bMIvByJ_/view?usp=sharing
PREVIEW DATES: Drive-by inspections only.
SALES MANAGERS:
George McDaniel - 434-546-9235 - gmcdaniel@countsauction.com
Pete Ramsey - 434-258-6611 - pete@countsauction.com
PROPERTY INFORMATION:
What's selling:
Approximately 117 acres with a house and several outbuildings. About 80 acres is open with the balance in woodland. The property has rolling hills. There is deeded access from Reed Valley Rd. to the property.
Directions:
From the Russell County Fairgrounds, turn left onto Rt. 58 and go 0.9 miles to Frosty Rd. Turn right onto Frosty Rd. and go 0.4 miles to River Rd. Turn left onto River Rd. and go 2.0 miles to Red Oak Ridge Rd. Take a slight right onto Red Oak Ridge Rd and go 0.1 miles to Reeds Valley Rd (Rt. 640). Turn left onto Reeds Valley Rd and go 3.0 miles. The access to the property will be on the left.
From Lebanon, take Rt. 71 S for 4.3 miles to Carterton Rd. Turn right onto Carterton Rd. and go 3.2 miles to Reeds Valley Rd. (Rt. 640). Turn left onto Reeds Valley Rd. for 2.2 miles. The access to the property will be on the right.
Terms and Conditions
Terms & Conditions:
A 10% buyer's premium will be added to the final high bid to determine contract price. A deposit of $15,000 in certified funds is due on sale day with the balance due 30 days from sale day. NOTE: By bidding at this sale, the Buyer hereby acknowledges receipt of and agrees to all these Terms and Conditions.
Inspection: Property is being sold AS-IS, WHERE IS with all FAULTS with no representations or warranties of any sort. While all information provided is deemed to be reliable, they are not guaranteed and do not constitute a warranty, either expressed or implied. All bidders are responsible for doing their own due diligence to determine if they should bid and/or purchase the property.
Terms: The property is sold in “AS – IS” condition and is not contingent upon bidder’s financing, condition of the property, appraisal, or inspection. Bidders shall rely on their own information, judgement, and inspection of the property. Title will convey via Special Warranty Deed, free and clear of all liens. The property taxes will be prorated as of the date of auction. The closing will take place within 30 days of the auction date unless specified otherwise or as soon thereafter as necessary to correct any defects in the title. Day of sale announcements take precedence over any previous printed materials, or any other oral statements made.
Bidder Verification: The identity of all bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, Counts Realty & Auction Group may reject the registration and bidding rights may be terminated.
Default: If the closing does not occur for any reason whatsoever, other than solely due to the fault of the Seller, Seller shall retain the earnest money deposit. This provision shall in no way affect the right of the Seller and/or The Counts Realty & Auction group to exercise any legal remedies or recourse available, including without limitation, seeking specific performance or monetary damages. Purchaser agrees to pay all attorney fees, court costs, and other costs of collection/enforcement incurred by the Seller and/or The Counts Realty & Auction Group.
Controlling Law: The respective rights and obligations of the parties with respect to the Terms and Conditions of Sale and the conduct of the sale shall be governed by the laws of the Commonwealth of Virginia.
Acceptance of these Terms and Conditions is acknowledged by placing a bid either in person, via telephone, or online.
Compliance:
For the purposes of ensuring compliance with applicable federal regulations restricting “related party” transactions by Farm Credit of the Virginias (Seller), Purchaser represents and warrants to Seller that as of the date of this Contract, Purchaser is not an employee, director, or officer of Seller or an immediate family member (meaning spouse, parent, sibling, child, step child, parent-in-law, sibling-in-law, son-in-law, or daughter-in-law) of any employee, director, or officer of Seller.
If Purchaser is a corporation, partnership, limited liability company, or other entity, Purchaser represents and warrants that none of its manger(s) or owner(s) are related parties of the Seller 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 consider for purposes of this representation.
If Purchaser is a trust, Purchaser represents and warrants that neither its trustee(s) nor its beneficiaries are related parties of Seller as described above.
