High Knob - Blacksburg, Virginia

Absolute Auction
203± Acres Offered in 3 Parcels

Friday, October 9, 2009 - 2:00 PM
Held at The Inn at Virginia Tech
901 Prices Fork Rd., Blacksburg, VA 24060

Previews: Fridays, September 18 & 25, October 2, 2:00-5:00PM Or by appointment

1036 Cedar Run Road, Blacksburg, Virginia

Libarary

Downstairs Wet Bar \

Downstairs Bedroom

Cooks Quarters

Pool and Cabana

Kitchen Tract 3

Tract 2 Tract 2

Tract 2 Tract 1

Tract 3 Tract 3

Tract 1

It is amazing that such a rare and beautiful estate remains undeveloped less than two miles from Virginia Tech, one of the nation’s premier universities. Imagine walking through the mature hardwood forest in the early morning fog and mist or looking over the wide expanse of the Ellett Valley as evening shadows fall. Enjoy the natural beauty and privacy of this mountain estate as well as the cultural benefits of a college town.

Custom built in the early 1960’s, the 4,800 SF contemporary brick ranch house has unmatched views of the Ellett Valley and beyond. Property Address: 1036 Cedar Run Road, Blacksburg, Virginia.

Parcel 1: 91.219± acres
This tract supports a stand of upland hardwoods with old field openings. With a small amount of clearing, this tract will offer beautiful potential building sites with western views of the Ellett Valley. Construct walking and riding trails on the wonderful property and enjoy its natural beauty. Most of this parcel is in Montgomery County and is zoned R-2. A small portion is in the Town of Blacksburg and is zoned R-4.

Parcel 2: 66.281± acres
The 4,800 SF contemporary brick ranch house and adjacent swimming pool with pool cabana sits on this parcel. This home offers a unique restoration opportunity. The views from this house are simply breathtaking. The home features four fireplaces, along with four bedrooms and five full baths. The living room and den have hard to find wormy chestnut paneling and random width pegged hardwood floors. The brick used to build the fireplaces came from one of the original faculty houses built in the late 1800’s on Old Faculty Row on the V.P.I. campus. The house has a freestanding propane powered generator as a back up power source. There is public water from the Town of Blacksburg and a septic system. The house was built in 1962 by Adger Smyth Johnson and is surrounded by a mature hardwood forest with abundant wildlife.

Parcel 3: 45.483± acres
This parcel includes the southern point of High Knob and provides expansive views of the Ellett Valley and several potential building sites. It supports a mature stand of upland hardwoods with abundant wildlife. This tract is accessed over a 50’ right of way. It has an easement for a beacon tower for the Virginia Tech airport and power is currently on this parcel.

High Knob
High Knob is a mountain summit with a peak elevation of 2,382 feet.

Adger Smyth Johnson

Adger Johnson graduated from Virginia Tech in 1928 with a degree in chemical engineering. His father, J.S.A. Johnson, was Chairman of the Chemistry Department at Virginia Tech. Mr. Johnson had a distinguished career with Union Carbide Corporation in New York City where he retired as Vice Chairman and Director. Mr. Johnson worked for Union Carbide in Shanghai, China in the 1930’s. He served on Virginia Tech’s Board of Visitors from 1964 to 1973 and received the university’s Alumni Distinguished Service Award in 1973. Mr. Johnson and his wife, Elizabeth, loved to entertain at High Knob when they were there. Their primary residence was in Englewood, New Jersey for many years.

Aerial Photography

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 surveys provided in the Bidder Packet for boundary locations.

Topographic Map

Documents

Survey
Title Commitment
Private Road Maintenance Agreement*
Covenants and Restrictions*
Broker Participation Form
R-2 Zoning
Timber Cruise
Estimate to bring High Knob Property back to original condition
Purchase Agreement
FAA Determination of No Hazard to Air Navigation Letter

*These Covenants and Restrictions only apply if the property is sold in two or more parcels. If there is a single Buyer for the entire property they become null and void as does the Shared Road Maintenance Agreement.

Documents will be added as they become available.

Please check back often.

Directions

Directions to High Knob: From I-81: Take Exit 118 C-B-A/460 West-Blacksburg. From 460 West take the 460 Business/South Main Street exit and go 0.9 miles to the stoplight at Ellett Road and take a right on Ellett Road. Go 0.6 miles to the entrance to High Knob on your left which is marked 807 Ellett Road and 1036 Cedar Run Road.

Directions to Sale Site: The Inn at Virginia Tech From I-81: Take Exit C-B-A/460 West towards Blacksburg. Go 10.8 miles to exit for Rt. 412 East/Prices Fork Road. Go 0.7miles on Prices Fork Road to entrance to The Inn at Virginia Tech. Come into the main lobby and follow the signs to the auction.

Broker Participation

Any appropriately licensed broker whose agent properly registers the successful high bidder will be paid a 2% commission based upon the contract sales price at settlement by the Seller. Application must be on a Woltz & Associates, Inc. Broker Participation Application form and contain the name, address and signature of agent and prospect as well as the Broker’s license number and Federal Tax ID number. The form must be received in the offices of Woltz & Associates, Inc. by 5:00 PM (EDT), Wednesday, October 7, 2009. Agent must show the prospective buyer the property and sign in at the open house, if attended by prospective buyer, attend the sale, and co-register with prospective Buyer on auction day. Only the first agent to register the high bidder will be eligible for a commission. Agents acting as principals buying on their own account, on behalf of family members, other licensed real estate agents, or who represent prospects that have had prior contact with Seller or Auction Company are not eligible. An agent may register only one bidder. Broker Participation Form

Basic Terms & Conditions

REGISTRATION: Bids will be accepted only from registered bidders. Registration begins at 1:00PM. Please bring a driver’s license for identification.
AUCTION SALE: All property will be sold absolute to the high bidder. ALL SALES ARE FINAL: All property is auctioned “AS IS, WHERE IS” with all faults in its condition at the time of sale without recourse by way of refund, reduction of the purchase price, or otherwise. Bidders should perform such independent investigation with respect to the property as they deem necessary or appropriate.
FINANCING: Your bidding and purchase of the property is not conditional upon financing. Be sure you have arranged financing, if needed, and are capable of paying cash at closing.
LIABILITY: Bidders inspecting property enter at their own risk. Auction Company assumes no risk for bodily injury or damage to personal property.
BIDDING: Qualified bidders may bid on individual tracts, any grouping of tracts or on the whole property. The auctioneer will determine all bid increments. All decisions by the auctioneer regarding bid acceptance are final.
ANNOUNCEMENTS: Announcements on day of sale take precedence over all prior releases, verbal and written, concerning this auction sale.
BUYER’S PREMIUM: The Buyer’s Premium on the real estate is 5% of the high bid amount. The Buyer’s Premium will be added to the high bid to determine the final sale price.
AGENCY: The Auction Company and its representatives represent the Seller, High Knob Limited Partnership.
LEAD PAINT: The residential property in this auction was built prior to 1978 and may contain lead-based paint. A lead-paint inspection may be performed by bidders prior to the auction sale date. Applicable lead paint documents and information are available from Auction Company. Bidders will be provided a lead-paint disclosure prior to signing a real estate purchase agreement and agree to waive the ten (10) day right to inspection after the auction sale.
REAL ESTATE DEPOSIT: A deposit in the amount of ten percent (10%) of the contract sale price will be required on day of sale. The deposit is payable by cash, cashier’s check, or pre-approved personal check payable to Woltz & Associates, Inc. Escrow Account. Personal checks will be approved if the Buyer presents a bank letter stating that the Buyer is a customer of the bank and the checking account is in good standing.
REAL ESTATE DEED: 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. The balance of the purchase price is due at settlement on or before November 6, 2009. There will be no assigning of tracts or deeds between bidders. Tracts will be deeded in the manner purchased at the auction.
BOUNDARY LINES: Boundaries on aerial photos and topo maps are approximate. Refer to survey for exact boundary locations.
GENERAL: The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, error, or omissions is assumed by the Seller or the Auction Company.

Contact

For more information, please contact Deal Tompkins (VA# 2907003647) or Charlie Wade (VA # 3176).
Phone Number: (540) 342-3560 or 800-551-3588
Email: Deal or Charlie