2017 Total Tax Assessment For Bank-Owned Property $1,120,900

    Loblolly Mill Estates is a beautiful and private 103± Acre — 34 Lot Residential Development located in Roanoke County, Virginia. This is a great opportunity to purchase the remaining Bank-Owned property consisting of 27 residential lots and common areas. This development, with its private paved roads, includes a 1.75± acre scenic pond, a historic grist mill building, and covered bridge. Lots range in size from 1-6 acres and require well and septic, which will need to be installed before house construction. This property is only minutes to Carilion Hospital and Downtown Roanoke. All of the remaining Bank-Owned property within the development will be sold as a “whole” in its entirety by ABSOLUTE Sealed Bid Auction.

    Woltz signs in development are approximate lot markers.

    Lot Number Acreage ± Tax Id Assessment Value
     1  2.529 089.02-02-01.00-0000  $43,600 
    2 1.815  089.02-02-02.00-0000  40,100 
     3  1.588 089.02-02-03.00-0000  38,900 
     4  1.906  089.02-02-04.00-0000 40,500 
     5  1.654  089.02-02-05.00-0000 39,300 
     6 1.482  089.02-02-06.00-0000  38,400 
     7 0.937   089.02-02-07.00-0000 36,000 
     8 1.243   089.02-02-08.00-0000 37,200 
     9 Sold
     10 Sold
     11 Sold
     12 Sold
     13  2.06 089.02-02-13.00-0000   41,300
     14 1.663  089.02-02-14.00-0000  39,300 
     15 1.895  089.02-02-15.00-0000  40,500 
     16 1.923  089.02-02-16.00-0000  40,600 
     17 2.281  089.02-02-17.00-0000  42,400 
     18  1.528 089.02-02-18.00-0000  38,600 
     19 0.948  089.02-02-19.00-0000  36,000 
     20  1.989  089.02-02-20.00-0000  40,900
     21 6.114  089.02-02-21.00-0000  51,300 
     22 4.184   089.02-02-22.00-0000 48,700 
     23 3.829   089.02-02-23.00-0000  50,100
     24 Sold  
     25 2.408   089.02-02-25.00-0000 43,000 
     26 2.025   089.02-02-26.00-0000 41,100 
     27  2.227  089.02-02-27.00-0000  42,100
    28 4.729 089.02-02-28.00-0000 51,800
    29 3.086 089.02-02-29.00-0000 46,400
    30 0.919 089.02-02-30.00-0000 36,000
    31 1.248 089.02-02-31.00-0000 37,200
    32 Sold
    33 Sold
    34 1.13 089.02-02-34.00-0000 36,000
    Roads 4.94 089.02-02-40.00-0000 200
    D 4.92 089.02-02-38.00-0000 700
    A 4.748 089.02-02-35.00-0000 700
    B 2.441 089.02-02-36.00-0000 600
    C 9.103 089.02-02-37.00-0000 900
    SWM 1.094 089.02-02-39.00-0000 500

    Bidder’s Information Packet with Bid Documents is available by calling 800.551.3588 or David Boush at 540.871.5810. Bidder’s Information Packets MUST be obtained from Auction Company in order to bid.

    Directions:

    Take State Route 116 South (Jae Valley Road) to right on Sterling Road (1st right after Blue Ridge Parkway Underpass) to Loblolly Mill Estates on left. Property Address: 0 Tall Pine Lane, Roanoke, Virginia 24014. Woltz signs in development are approximate lot markers.

    Broker Participation

    Any appropriately licensed Virginia broker whose agent properly registers the successful high bidder will be paid a 2% commission based upon the sales price, at settlement by the Seller. Applications 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 office of Woltz & Associates, Inc. accompanying the Sealed Bid Auction Real Estate Purchase Agreement and Deposit. Agents acting as principals buying on their own behalf, on behalf of family members, other licensed real estate agents, or who represent prospects that have had prior contact with the Seller or Auction Company are not eligible. An agent may register only one Bidder for the Auction.

    Terms & Conditions of Auction

    1. TERMS OF SALE: This Auction is being conducted subject to the Terms and Conditions of Sale and the Sealed Bid Auction Real Estate Purchase Agreement (“Contract”).
    2. BIDDER’S INFORMATION PACKET: The detailed Bidder’s Information Packet (“Packet”) containing the Sealed Bid Auction Real Estate Purchase Agreement, title insurance commitment, survey, tax parcel information, aerial and topographic maps, bidding instructions and other detailed information is required to bid and is available from Auction Company at all open houses, via email, fax, mail order or at the offices of Woltz & Associates, Inc. (“Auction Company”) at 23 Franklin Road, SW, Roanoke, VA 24011.
    3. BIDDING: The Property is being offered in its entirety, not by individual lot or per acre, via Sealed Bid Absolute Auction. To participate and bid in the auction, your fully executed and signed Contract (contained in the Bidder’s Information Packet) must be completed and delivered to Auction Company on or before 3:00 PM Eastern Time, Thursday, July 25, 2017.
    4. BUYER’S PREMIUM: A five percent (5%) buyer’s premium must be added to the high bid to determine the total Purchase Price.
    5. EARNEST MONEY DEPOSIT: A Deposit of 10% of the total Purchase Price must accompany the sealed bid either by cashier’s check or wire transfer to Woltz & Associates, Inc. Escrow Account (“Escrow Agent”) as Earnest Money Deposit (“Deposit”). Contact Auction Company for wire transfer instructions. The Deposit shall be held by Escrow Agent during the bid consideration period, in accordance with the terms of the Contract. All Deposits on offers not accepted will be return mailed to the respective bidders by Friday, August 11, 2017.
    6. BID OPENING: Bids will be opened at the offices of Woltz & Associates, Inc., located at 23 Franklin Road, SW, Roanoke, Virginia 24011 at 3:00 PM Eastern Time on Tuesday, July 25, 2017. The bidders placing the three highest bids will be notified by 5:00 PM on July 25, 2017 that they are entitled to enter the final round of bidding and raise their bid to their highest bid by 3:00 PM on Thursday July 27, 2017. The bids will be opened at the offices of Woltz & Associates, Inc., immediately thereafter.
    7. TIE BIDS: In the event of any tie bids, Seller may accept the bid of Seller’s choice, or Seller may elect to give the tie bidders the opportunity to raise their bid to their highest bid by 10:00 AM Eastern Time on Friday, July 28, 2017.
    8. NOTIFICATION OF ACCEPTED BID: The successful bidder will be notified by 3:00 PM Eastern Time on Friday, July 28, 2017. All bids must remain irrevocable by the bidders until this time.
    9. SETTLEMENT: The Settlement date shall be no later than Friday, September 8, 2017. Seller will prepare, and Buyer will accept, a Special Warranty Deed. Seller and Buyer shall pay their own Settlement costs as is customary in the Commonwealth of Virginia.
    10. ALL SALES ARE FINAL: The 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.
    11. 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.
    12. BOUNDARY LINES: Boundaries on aerial photos and topo maps are approximate.
    13. DISCLOSURES: The disclosures can be found in the Bidder’s Packet and attached to the Sealed Bid Auction Real Estate Purchase Agreement. Bidders are encouraged to perform their own due diligence before submitting bid for the Property.
    14. AGENCY: Auction Company and its representatives represent the Seller in this real estate transaction.
    15. GENERAL: The information contained in this brochure and otherwise provided by Seller and Auction Company 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.

    Bidder’s Information Packet with Bid Documents is available by calling 800.551.3588 or David Boush at 540.871.5810. Bidder’s Information Packets MUST be obtained from Auction Company in order to bid.

     

    Documents