Details
DATE: Friday, May 20th, 2022 at 11:00AM
(Accepting online pre bids now. Becomes live auction on 5/20/22 at 11:00AM)
AUCTION SITE: The Board Room in the County Administration Building located at 122 East Main St, Bedford, VA 24523
HOW TO REGISTER TO BID ONILINE: (NOTE: You do not need to register to bid online if you are going to attend the sale in person. You will be need to register in person prior to the sale if you attend live.) View the "Instructions on how to register to bid online" document under the "Downloads" section under the map on this page. Please be sure to read the entire document to avoid confusion.
SALES MANAGER: George McDaniel - 434-546-9235
Terms and Conditions
GENERAL TERMS OF SALE: All sales are subject to confirmation by the Circuit Court. The Special Commissioner has the right to reject any bids determined to be unreasonable in relation to the estimated value of the Property. Any unsold property will be offered for sale again at the next auction, whenever that may be.
Properties are conveyed by Special Warranty Deed, subject to any easements, covenants, agreements, restrictions, reservations, and any and all rights of record which may affect the property. Properties are offered for sale as-is, where-is, and if-is, with all faults and without any warranty, either expressed or implied. Persons are encouraged to make a visual inspection of the property within the limits of the law and to obtain an independent title search, at their own expense, prior to bidding on any of the properties to determine the suitableness of the property for their purposes. It is not guaranteed that the property has a right-of-way or that it is not landlocked. Property is sold in gross and not by the acre. There is no warranty as to the accuracy of the GIS system, nor is the information contained therein a legal representation of any of the features of the property which it depicts.
The sale of property to the highest bidder is not contingent upon obtaining financing. Financing, if needed, is the sole responsibility of the high bidder. By bidding, parties are entering into a legally binding contract, waive all rescission rights, and understand that their bid is immediately binding, irrevocable, and enforceable. Additionally, by bidding, parties are representing that they have read, and agree to be bound by, all terms and conditions for this sale. Failure to complete the property purchase will result in forfeiture of any funds paid and may subject the highest bidder to additional damages, which may include expenses and any deficit upon resale.
PAYMENT TERMS: On the day of the auction, the highest bidder shall make a deposit in the amount of twenty-five percent (25%) or One Thousand Dollars ($1,000.00), whichever is higher, along with a 10% buyer’s premium added to the final bid. Bids which are less than One Thousand Dollars ($1,000.00) shall be paid in full at the time of the auction. Deposits shall not exceed Twenty Thousand Dollars ($20,000) per parcel. Such sum shall be held by the Special Commissioner and credited towards the purchase price following confirmation of the sale. Subsequent taxes will be prorated from the auction date, and the highest bidder will be responsible for taxes from that date forward.
The balance of the purchase price and recording costs for deed recordation shall be deposited by the highest bidder with the Special Commissioner within fifteen (15) days of confirmation of the sale by the Court.
Terms applicable to In-Person Bidders ONLY: The highest bidder shall make a deposit in the amount of twenty-five percent (25%) or One Thousand Dollars ($1,000.00), whichever is higher on the day of the auction, along with their buyer’s premium payment. All payments must be made in the form of personal check, traveler’s check, cashier’s check or money order. No cash will be accepted.
Terms applicable to Online Bidders ONLY: All interested parties must register and be approved by the Auctioneer. Registration and bidding are free of charge and are done through the Auctioneer’s website www.countsauction.com. If any interested bidders are unable to attend for in-person bidding and wish to bid on property, but do not have access to the internet, please call (434) 525-2991 for assistance. The highest bidder will receive their purchase contract and balance due via email following the close of the auction. The contract shall immediately be executed and returned to TACS. The bid deposit (25% or $1,000, whichever is greater) and the 10% buyer’s premium must be received in full within five (5) business days following the auction closing (no later than May 25, 2022). Time is of the essence. All payments must be made in the form of certified funds, cashier’s check, money order or wire transfer. Cash and personal checks will not be accepted. Checks and money orders shall be made payable to Bedford County and forwarded to TACS, at the address shown below. Wire transfer instructions will be provided to the highest bidder upon request.
To qualify as a purchaser at this auction, you may not owe delinquent taxes to the County or Town of Bedford and you may not be a Defendant in any pending delinquent tax matter. Questions concerning the registration and bidding process should be directed to the Auctioneer online at www.countsauction.com, by email to GMcDaniel@countsauction.com or by phone to (434) 525-2991. Questions concerning the property subject to sale should be directed to TACS online at www.taxva.com, by email to taxsales@taxva.com, by phone to (804) 893-5176
