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23 Franklin Road
Roanoke, VA 24011
540.342.3560
800.551.3588
www.woltz.com

 

A581

“Virginia’s Best Kept Secret” - Craig County, Virginia
ABSOLUTE AUCTION

Classic Farmhouse And 36± Acres Offered In Four Tracts

Sold August 2007

You must visit this gorgeous property to appreciate all it has to offer.
Don’t miss this opportunity to buy a treasure at your price!

This beautiful 36± acre farm is located in the scenic Sinking Creek Valley near the Community of Simmonsville in historic Craig County. The Appalachian Trail crosses Route 42 only 1.1 miles from this picturesque farm. The classic two-story farmhouse (circa 1880) and numerous outbuildings are reminiscent of a bygone era. It is hard to believe that you are fewer than 20 miles from Virginia Tech when you are enjoying the sweet breezes and views of the surrounding mountains from one of the three porches.

The farm will be offered in 4 tracts, each with frontage on Route 42, as well as in any grouping of tracts desired by bidders, providing a great opportunity for buyers interested in owning a small tract for cropland, those searching for a spectacular rural home site, buyers who desire a working farm with a classic farmhouse and Hokies looking for a second home for game weekends.

The parcels range in size from 5.1± acres to 14.1± acres. The property is zoned A-1, Agricultural, Limited District, and is identified as Craig County Tax Map No. 105-A-21.

Tract 1: This 14.171± acre tract has rolling hayfields, long range views and several ideal building sites. There are 459± ft. of frontage on Route 42.

Tract 2: Tract 2 features a 2,552± sq. ft. two-story farmhouse and several
outbuildings. The home has pine floors, a walnut staircase, three fireplaces and three porches. There are mature chestnut trees, damson plum trees, grape vines,
boxwoods, perennials and other mature plantings in the fenced yard. There is open pasture and cropland on this 5.12± ac. tract which has 565± ft. of frontage on Route 42 and views of the surrounding mountains and farmland.

Tract 3: This 9.662± acre parcel has pasture and hayfields and features
outstanding views of the surrounding countryside. The hilltop offers a spectacular building site. There are 300± feet of frontage on Route 42.

Tract 4: This partially wooded 7.093± acre tract provides the buyer with a choice of building a home among the hardwoods or on the open land with views. There are 364± ft. of frontage on Route 42.













Documents:
Survey (PDF format)
Preliminary Real Estate Bidder Packet

Directions - Property Address is 4694 Cumberland Gap Rd. Newport, VA 24128:

To Property from Blacksburg/Virginia Tech (Southgate Drive): Follow Rt. 460 West for 9.7 mi. and turn right on Rt. 42 East (Bluegrass Trail) toward Newport/New Castle. Property is 8.4 mi. on right.

To Property from I-81 North: Take Exit 118B toward Blacksburg (Rt. 11/Rt. 460). Follow Rt. 460 West toward Blacksburg/Pearisburg for 17.6 mi. and turn right on Rt. 42 East (Bluegrass Trail) toward Newport/New Castle. Follow Rt. 42 East 8.4 mi. to property on right.

To Property from Roanoke and I-81 South: From I-81 South, take Exit 141 (Salem/Rt. 419). At end of ramp, turn onto Rt. 419 North toward Rt. 311/Catawba. Travel approximately .50 mi. and turn right on Rt. 311 North toward Catawba/New Castle. Go 18.9 mi. to New Castle. Turn left on Rt. 42 West toward Newport. Go 20.2 mi. to property on left.

To Sale Site (Newport Recreation Center): From Property: Continue on Rt. 42 West (Cumberland Gap Road) for 8.0 miles to the Newport Recreation Center on the left in Newport. From Virginia Tech (Southgate Drive): Follow Rt. 460 West for 9.7 mi. and turn right on Rt. 42 East (Bluegrass Trail) toward Newport/New Castle. The Newport Recreation Center is .4 mi. on the right in Newport. From I-81/Blacksburg: Take Exit 118B toward Blacksburg (Rt. 11/Rt. 460). Follow Rt. 460 West toward Blacksburg/ Pearisburg for 17.6 mi. and turn right on Rt. 42 East (Bluegrass Trail) toward Newport/New Castle. The Newport Recreation Center is .40 mi. on the right in Newport.

Broker Participation:

Any broker actively licensed in the Commonwealth of Virginia whose agent properly registers the successful high bidder will be paid a two percent (2%) commission at settlement by the Seller. Registration must be on a Woltz & Associates, Inc. Broker Participation Application form and contain the name, address and signature of agent and prospect as well a Brokerís license number and Federal Tax ID number. The form must be received in the office of Woltz & Associates, Inc. by 12:00 noon on August 3, 2007. If prospect attends preview, agent must attend with prospect. Additionally, agent must attend sale and co-register with prospect on auction day. Only the first broker to register the high bidder will be paid a commission. Agents acting as principals, on behalf of licensed real estate agents, on behalf of family members, on behalf of entities in which they hold an ownership interest or who represent prospects who have had prior contact with seller or auction company are not eligible. Only one registered bidder per agent.

Auction Terms and Conditions:

  1. REGISTRATION: Bids will be accepted only from registered bidders. Registration begins at 11:00. Please bring a
    driver’s license for identification.
  2. TERMS OF SALE: The property will be sold absolute to the highest bidder. All property is sold “AS IS, WHERE IS.” Bidders should perform such independent investigation with respect to the property as they deem necessary or appropriate. ALL SALES ARE FINAL.
  3. ANNOUNCEMENTS: Announcements day of sale take precedence over all prior releases, verbal and written,
    concerning this sale.
  4. BIDDING: Registered bidders may bid on individual tracts, any grouping of tracts or on the whole property. The
    auctioneer will determine bid increments.
  5. BUYER’S PREMIUM: A Buyer’s Premium will be charged. The Buyer’s Premium is five percent (5%) of the high bid amount. The Buyer’s Premium is added to the high bid amount to determine the sale price.
  6. DEPOSIT: A deposit in the amount of ten percent (10%) of the sale price (high bid plus Buyerís Premium) will be required on day sale. The deposit is payable by cash, cashierís check or pre-approved personal check made payable to Woltz & Associates, Inc. Escrow Account. Personal checks will be approved if the Buyer presents, at time of
    registration, a letter from its bank stating that the Buyer is a customer of the bank and that the account on which the check is drawn is in good standing.
  7. CLOSING DATE: The balance of the purchase price is due at settlement on or before September 4, 2007.
  8. TRANSFER OF TITLE: The real estate will be conveyed by general warranty deed free and clear of liens subject, however, to any rights of way, easements and restrictions of record.
  9. AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLER, ALAN R. LUGAR and DIANE W. LUGAR.
  10. BIDDER PACKETS: Bidder Packets are available from the Auction Company.
  11. BOUNDARY LINES: Boundaries shown on aerial photographs and topographical maps, which are provided by Auction Company as a courtesy to bidders, are approximate. Bidders should refer to the survey provided in the Bidder Packet for boundary locations.

Buyers Premium: 5% on Real Estate

Contact:
Jonna McGraw (VA# 2434) or Sam Hardy (VA# 2535) at 540-342-3560 or 800-551-3588


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