Online Auction: 163.2± Acres – 8 Tracts Back to Auction Calendar

Bidding Opens: Jan. 13, 8 AM
Bidding Closes: Jan. 24, 3 PM

• Incredible Mountain and Countryside Views
• Secluded Setting
• Close proximity to Interstate 81
• Mostly Wooded Land
• Abundant Wildlife
• Recently Surveyed
• Great potential for Residential and Recreational Uses

Don’t miss this opportunity on 163.20± acres that is already subdivided into eight 20± acre parcels, see that plat under documents. Incredible views, seclusion, abundant wildlife, & much more to offer, yet only 30 minutes to Downtown Roanoke & Downtown Blacksburg! Buyer responsible for well, septic, & power. See Covenants & Restrictions, HOA Bylaws, Plat, & Soils under Documents. HOA to be established after fifth lot has been sold.

30 Minutes from Downtown Roanoke and Downtown Blacksburg!

Schools

Elementary School: Eastern Montgomery
Middle School: Shawsville
High School: Eastern Montgomery

Directions

From Roanoke; Take Interstate 81 South 16 miles, Take exit 128 to Ironto. Travel 600 feet and take right onto N Fork Rd, Travel 500 feet and take right, in 500 feet turn left onto Reese Mountain Rd. See signs for parcels on left, travel further up Reese Mountain Rd to see additional parcels.

Terms & Conditions

Bidding Starts: January 13, 2023, at 8:00 AM ET
Bidding Ends: January 24, 2023, 3:00 PM ET

1. AUCTION SALE:  The Property will be sold subject to Seller’s confirmation of the high bid.  Purchaser will execute the Auction Real Estate Purchase Agreement as required in Paragraph 2.  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. Bidding signifies you have read and are in agreement with the terms and conditions of the auction. 
2. REAL ESTATE DEPOSIT: The Buyer is required to pay a deposit in the amount of ten percent (10%) of the contract sales price and sign an Auction Real Estate Purchase Agreement immediately following SELLERS acceptance of the bid via Doc U Sign.   Buyer may wire funds ($25.00 wire fee) or overnight a cashier’s check for the earnest money deposit at Buyer’s expense.
3. FINANCING:  Your bidding and purchase of the property are NOT CONDITIONAL UPON FINANCING.  Be sure you have arranged financing, if needed, and are capable of paying cash at settlement.
4. LIABILITY:  Bidders inspecting property enter at their own risk.  Auction Company assumes no risk for bodily injury or damage to personal property.
5. BUYER’S PREMIUM:  The Buyer’s Premium on the real estate is five percent (5%) of the high bid amount.  The Buyer’s Premium will be added to the high bid to determine the final contract sales price.
6. AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLER.
7. REAL ESTATE DEED AND POSSESSION:  The real estate will be conveyed by a Special Warranty deed to be prepared at the expense of the Seller and the cost of Virginia Grantor’s tax shall be borne by the Seller.  It is agreed the Property is being conveyed 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 which shall be on or before February 24, 2023.  The contract to purchase is not assignable.  Possession of the Property shall be given to the buyer at settlement.
8. BOUNDARY LINES:  Boundaries on aerial photos, topographic maps, and otherwise, are approximate and are subject to verification by all parties relying on them.
9. BIDDING AND SOFT CLOSE: The bidding is hereby offered by Online Auction only and bidding will only be available to registered bidders. The Soft close will allow extended bidding until no bids are placed for two minutes. If a bid is placed on any tract within the last two minutes, an additional two minutes will be added to all tracts to ensure everyone gets time to place their bid.
10. CONFIRMATION: All auction tracts are sold subject to Seller Confirmation.
11. GENERAL: The information contained in the brochure, on woltz.com, all advertising, and the Bidder’s Information Packet is subject to verification by all parties relying on them.  No liability for its accuracy, error, or omissions is assumed by the Seller or the Auction Company.
12. BROKER PARTICIPATION: Any appropriately licensed Virginia broker whose agent properly registers the successful high bidder will be paid a 2% commission based upon the high bid, and will be paid 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. or by email at hannah@woltz.com prior to the registered bidder making a bid. Participating Broker must sign the Real Estate Purchase Agreement for winning bid. 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 this auction.
13. SOFTWARE & TECHNOLOGY: Woltz & Associates, Inc. reserves the right to reject any bid at our sole discretion. In the event there are technical difficulties related to the server, software, or any other online auction-related technologies, Woltz & Associates, Inc., reserves the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR WOLTZ & ASSOCIATES, INC. SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Email notifications will be sent to registered bidders with updated information deemed necessary by Auction Company.
14. BUYER ACKNOWLEDGMENT: All Property is sold subject to the Reese Mountain Road Association Bylaws; Covenants, Conditions and Restrictions; Road Maintenance Agreement; and Notice to Potential Purchasers.

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