Bidding Opens: Nov. 3, 2 PM
Bidding Closes: Nov. 10, 2 PM
Auction Tract 1
City of Bristol Virginia, Exit 5
Location!, Location!, Location!
Tax Id# 264-A-1
18.8± Acres
Zoned M1 (Adjoins B3 Zoning)
Located on Walling Road between Harley Davidson and Virginia Beverage Company. Excellent location just across I-81 from “The Falls”. This is a blank canvas for a developer, investor or end user.
I-81 Traffic 26,000
Water & Sewer Available
Not far from the Hard Rock Hotel and Casino.
Directions: I-81 Exit 5, Take 19 south west to light and turn left on Old Abingdon Hwy and immediately left on Walling Road, by Harley Davidson Store. Property on right just past Harley Davidson.
Auction Tract 2 – SOLD
Abingdon Virginia Exit 17
Washington County Tax Parcel ID# 105-8-1
35.4± Acres
Zoned Abingdon A & A2
Currently in Land Use
PRIME DEVELOPMENT PROPERTY
Water & Sewer Available
Not far from South Holston Lake, Historic Downtown Abingdon, the Hard Rock Hotel and Casino. Close to shopping.
Directions: From I -81 Exit 17 Go south Cummings Street and turn right on Gravel Lake Road. Property fronts on Cummings Street and along Gravel Lake past the new Round About!
7% Buyer’s Premium | Boundaries are Approximate
Terms & Conditions of Auction for Online Bidding
Auction Tract 1 City of Bristol Tax ID# 264-A-1 18.8± Acres
Henry C. Pratt Irrevocable Trust and The Mack B. Trammell Foundation, Inc.
Bristol VA, Abingdon VA
Auction Tract 2 Washington County Tax ID# 105-8-1 35.4± Acres
Henry C. Pratt Irrevocable Trust
Washington County, VA
Bidding Starts: November 3, 2022 at 2:00 PM ET
Bidding Ends: November 10, 2022, 2:00 PM ET
- 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.
- 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.
- 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.
- LIABILITY: Bidders inspecting property enter at their own risk. Auction Company assumes no risk for bodily injury or damage to personal property.
- BUYER’S PREMIUM: The Buyer’s Premium on the real estate is seven percent (7%) of the high bid amount. The Buyer’s Premium will be added to the high bid to determine the final contract sales price.
- AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLER.
- 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 December 28, 2022. The contract to purchase is not assignable. Possession of the Property shall be given to the buyer at settlement.
- BOUNDARY LINES: Boundaries on aerial photos, topographic maps, and otherwise, are approximate and are subject to verification by all parties relying on them.
- 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 five minutes. If a bid is placed within the last five minutes an additional five minutes will be added to ensure everyone gets time to place their bid.
- 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.
- 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.
- 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.
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