Open House & Preview Dates: Sunday, July 17 & 24 from 1:00 to 4:00 PM or by appointment.
Property is currently assessed for $145,200 – Sells absolute to the highest bidder
Tract 1: 11.289± acres. This brick ranch with full basement consists of 2 bedrooms, 2 bathrooms, an eat-in kitchen, living room and den. The home also has hardwood floors underneath the carpet in the bedrooms, den, living room and hallways. There are some additional shop buildings that enhance this property, the wood shop has 220 electricity. The home offers great country living with a large yard, garden area and nice views. The balance of the land is mostly heavily wooded with mature marketable timber.
Tract 2: 8.550± acres. This parcel is mostly wooded with harvestable timber. There is a nice ridge top area that could be opened up for big views.
Both parcels reach an elevation of 2,720 feet above sea level!
Tractor and loader; dump truck; wood splitter; rotary cutter; air compressor; toolboxes and tools; drill press; generator; chain saws; floor jack; and hand tools of all kinds; Wood Working Shop Tools: band saw; scroll saw; radial arm saw; clamps; jointer; table saw; and planer.
Directions to Property: From Wytheville VA take Hwy 21 south towards Independence, Virginia to the community of Speedwell. In Speedwell turn west on Cedar Springs Road and go 1.4 miles and turn left on Dry Road. Go 1.5 miles to the property on your left. Address: 845 Dry Road, Speedwell, Virginia 24374.
Sale site is Speedwell Elementary School (6820 Cedar Springs Road, Speedwell, VA 24374). The school is located on Cedar Springs Road 1/10 of a mile from the intersection with Hwy 21 in Speedwell.
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 Broker’s license number and Federal Tax ID number. The form must be received in the office of Woltz & Associates, Inc. by 12:00 noon on July 28, 2016. 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.
Basic Terms & Conditions of the Auction:
REGISTRATION: Bids will be accepted only from registered bidders. Registration begins at Noon. Please bring a driver’s license for identification.
AUCTION SALE: All property sells absolute to the highest bidder regardless of price. 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 or a combination of both tracts. 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 five percent (5%) of the high bid amount. The Buyer’s Premium on the personal property is ten percent (10%) 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.
LEAD PAINT: The home 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 special 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 September 15, 2016. 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.
PAYMENT FOR PERSONAL PROPERTY: All personal property must be paid for in full on day of auction sale by cash, cashier’s check, or pre-approved personal or business check. Personal and business 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.
REMOVAL OF PERSONAL PROPERTY: Personal property becomes the responsibility of the Buyer at the time of sale. The Auction Company does not provide equipment or labor to remove purchased items. All personal property must be removed from the premises during the posted times for pick-up unless prior arrangements are made with Auction Company. Pick-up times for the personal property will be Friday July 29 immediately following the sale.
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.