2125 Jefferson Street, SW, Roanoke, VA 24014
This desirable 0.45± acre South Roanoke property comprised of two tax parcels is being offered by sealed bid auction. The 11,825± SF parcel located at the corner of S. Jefferson Street and 22nd Street is improved with a 2,923± SF three bedroom, three bath brick house. The adjoining 7,826± SF lot faces S. Jefferson Street. Paved parking is available in the rear portions of the parcels. The frontage on Jefferson St. and 22nd Street is 110± ft. and 162± ft., respectively.
The property is a short walk from Carilion Roanoke Memorial Hospital, the Roanoke River Greenway, residential properties and churches, as well as restaurants, a grocery store, coffee shops, banks and other businesses.
Current zoning is IN, Institutional District. The most recent use has been residential. The property is identified as City of Roanoke Parcels 1050607 and 1050608. The combined current tax assessed value is $444,200.
South Roanoke Investment Property
From Downtown Roanoke at the Corner of Elm Avenue & Jefferson Street: Travel south on Jefferson Street toward Carilion Roanoke Memorial Hospital for 1.3 miles. Property is on the right at the corner of S. Jefferson Street and 22nd Street, SW. Address: 2125 Jefferson Street, SW, Roanoke, VA 24014
BIDDER INFORMATION PACKETS WITH BID DOCUMENTS ARE AVAILABLE FROM THE AUCTION COMPANY
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 as Broker’s license number and Federal Tax ID number. The form must accompany the Sealed Bid Auction Real Estate Purchase Agreement and Deposit when the bid is placed. To be considered, sealed bids must be received in the offices of Woltz & Associates, Inc. by 12:00 noon Eastern Daylight Time on July 12, 2017. If prospect attends preview, agent must attend with prospect. 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.
Terms & Conditions of Auction
- TERMS OF SALE: The property is being sold subject to the Terms & Conditions contained in the Bidder Information Packet and the Sealed Bid Auction Real Estate Purchase Agreement contained therein. The property is sold “AS IS, WHERE IS” and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries and due diligence with respect to the property as they deem necessary or appropriate. ALL SALES ARE FINAL. All time deadlines are Eastern Daylight Time.
- BIDDER INFORMATION PACKET: The Bidder Information Packet containing bidding instructions, a survey, title commitment, City of Roanoke GIS information, a title commitment and the Sealed Bid Auction Real Estate Purchase Agreement is available from the Auction Company.
- BIDDING: The property is being offered by sealed bid auction. In order to be considered, a signed Sealed Bid Auction Real Estate Purchase Agreement (contained in the Bidder Information Packet) must be received by the Auction Company by 12:00 noon on July 12, 2017. The bids will be opened and the bidders placing the three highest bids will be notified by 5:00 p.m. on July 12, 2017 and given the opportunity to place their highest bid by 12:00 noon on July 14, 2017.
- BUYER’S PREMIUM: A Buyer’s Premium will be charged. The Buyer’s Premium is five percent (5%) of the bid amount and must be added to bid amount in the Sealed Bid Auction Real Estate Purchase Agreement to calculate the purchase price.
- EARNEST MONEY DEPOSIT: A deposit in the amount of ten percent (10%) of the purchase price (high bid plus Buyer’s Premium) must accompany the sealed bid by either cashier’s check or wire transfer. Deposit checks must be made payable to Woltz & Associates, Inc. Escrow Account. Cashier’s checks will be held uncashed during the bid consideration period. The Auction Company will mail deposits on offers not accepted to the respective bidders by July 21, 2017. The deposit made by the successful bidder will be placed in the Woltz & Associates, Inc. Escrow Account and retained until settlement in accordance with the terms of the Sealed Bid Auction Real Estate Purchase Agreement.
- BID OPENING: Bids will be opened at the offices of Woltz & Associates, Inc. located at 23 Franklin Road, SW, Roanoke, Virginia 24011 at 12:30 p.m. on July 12, 2017. The bidders submitting the three highest bids will be notified by 5:00 p.m. that they are entitled to enter the final round of bidding. The final bids, due by 12:00 noon on July 14, 2017, will be opened at the offices of Woltz & Associates, Inc. at 12:30 p.m. that day. Only the top bid will be announced.
- TIE BIDS: In the event of a tie bid, Seller may accept the bid of its choice or elect to give bidders whose bids tied an opportunity to submit an additional higher bid by 12:00 noon on July 17, 2017.
- SETTLEMENT: The balance of the purchase price is due at settlement on or before September 5, 2017. This is a cash transaction and is not conditioned upon the bidder obtaining financing. If by August 7, 2017, the holder of a right of first refusal exercises its right to purchase the property according to the same terms as the high bidder in the auction, the high bidder will be notified and its deposit returned.
- TRANSFER OF TITLE: The Real Estate will be conveyed by special warranty deed free and clear of liens subject, however, to any rights of way, easements, covenants and restrictions of record.
- AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLER.
- BOUNDARY LINES: Boundaries shown on aerial photographs which are provided by the Auction Company as a courtesy to bidders are approximate. A survey is contained in the Bidder Information Packet.