Details
AUCTION DATE: Friday, July 26, 2024 @ 12:00 noon
LOCATION OF AUCTION: Off-site bidding location: Rockbridge County Courthouse, 20 S Randolph Street, Lexington, VA 24450
PROPERTY ADDRESS: 536 Stuart Road, Fairfield, VA 24435
PREVIEW DATES: Access to the property is not allowed. Drive-by inspections only.
SALES MANAGERS:
Pete Ramsey - 434-258-6611 - pete@countsauction.com
George McDaniel - 434-546-9235 - gmcdaniel@countsauction.com
PROPERTY INFORMATION:
What's selling:
24.48 acres of mostly wooded land. There is a dwelling on the property but it appears to be in poor condition. Electricity is available to the property. There is a stream that runs through the property. The property does not have road frontage on a public road but there is a court ordered easement from Stuart Rd. to the property.
Directions:
From Lexington, take Rt. 11 N for about 5.5 miles to Rt. 716 (Mt. Atlas Rd.) Turn left onto Rt. 716 and go 3.7 miles to Rt. 727 (Stuart Rd.). Turn right onto Rt. 727 (Stuart Rd.) and go 1.0. The access point to the property is on the right.
Buyer's Premium: 10%
Terms: A deposit of the greater of $10,000 or 10% of the winning bid, shall be paid at the sale by cashier's check made payable to Bidder (to be assigned to Trustee if bidder is successful), with the balance of the winning bid plus a 10% buyer's premium to be paid upon delivery of a trustee's deed within 30 days of sale. If the initial deposit is less than 10% of the winning bid, then the successful bidder's deposit MUST be increased to 10% of the winning bid by cashier's check or wired funds within (3) business days. Settlement shall be held within 30 days after the date of sale unless otherwise postponed at the sole discretion of the Trustee. Sale is subject to the covenants, conditions, restrictions, rights of way, and easements, if any, contained in the deeds and other documents forming the chain of title to the property. Property is sold "AS IS, WHERE IS," "WITH ALL FAULTS" and "WITH ABSOLUTELY NO WARRANTIES." Real estate taxes will be prorated as of the sale date. Full terms listed below.
Terms and Conditions
Terms and Conditions
Terms & Conditions: A bidder’s deposit of the greater of $10,000.00 or 10% of the winning bid, shall be paid at the sale by cashier’s check made payable to Bidder (to be assigned to Trustee if bidder is successful), with the balance of the winning bid plus a 10% buyer’s premium to be paid upon delivery of a trustee’s deed within 30 days of sale. If the initial deposit is less than 10% of the winning bid, then the successful bidder’s deposit MUST be increased to 10% of the winning bid by cashier’s check or wired funds within (3) business days. Settlement shall be held within 30 days after the date of sale unless otherwise postponed at the sole discretion of the Trustee. Sale is subject to the covenants, conditions, restrictions, rights of way, and easements, if any, contained in the deeds and other documents forming the chain of title to the property. Property is sold “AS IS, WHERE IS,” “WITH ALL FAULTS” and “WITH ABSOLUTELY NO WARRANTIES.” Real estate taxes will be prorated as of the sale date. The high bidder will be required to sign a contract the day of the sale and pay the deposit. NOTE: By bidding at this sale, the Buyer hereby acknowledges receipt of and agrees to all these Terms and Conditions.
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.
Controlling Law:
The respective rights and obligations of the parties with respect to the Conditions of Sale and the conduct of the sale shall be governed and interpreted by the laws of the Commonwealth of Virginia. By making an offer at the sale, whether present in person or by agent, written offer, telephone, online or other means, the participant shall be deemed to have consented to the jurisdiction of the state and federal courts of the Commonwealth of Virginia.
Acceptance of the terms is acknowledged by placing a bid.
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.
