SOLD – Real Estate Auction: City of Salem Delinquent Tax Properties

Valuable parcels of real estate located throughout the City of Salem are being offered for sale on behalf of Mark D. Kidd, Special Commissioner. The properties are located in areas zoned RSF (Residential Single Family District). There are no minimum bids. A five percent (5%) buyer’s premium will be added to the high bid to determine the sale price.

Property information is also available on the Real Estate and GIS sections of the City of Salem website – https://salemva.gov/

 

Basic Terms & Conditions of Auction

  1. REGISTRATION: Bids will be accepted only from registered bidders. Registration begins at 9:00 AM. Please bring your driver’s license for identification. A prospective bidder who owns property in the City of Salem for which any local taxes are past due will not be permitted to register or bid.
  2. AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLER, MARK D. KIDD, SPECIAL COMMISSIONER.
  3. AUTHORITY FOR SALE: The sale is by Order of the City of Salem Circuit Court. All properties will be sold at auction subject only to City of Salem Circuit Court confirmation. The hearings on confirmation of the sales of the properties will be held at 1:30 PM on May 6, 2021.
  4. TERMS OF SALE: All property is sold “AS IS, WHERE IS” and with any faults. 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. Inspection of the properties is performed at the potential bidder’s own risk. Except for the required Circuit Court approval referenced in paragraph 3, all sales are final.
    The properties are sold subject to any applicable conditions or easements of record including utilities, construction, sewer, water, storm water or drainage and any homeowners’ associations’ covenants and restrictions.
  5. ANNOUNCEMENTS: Announcements made on the day of sale take precedence over all prior communications, verbal and written, concerning this sale. Detailed terms and conditions will be provided on the day of sale.
  6. BUYER’S PREMIUM: A Buyer’s Premium will be charged. The Buyer’s Premium is five percent (5%) of the high bid amount. The Buyer’s Premium will be added to the high bid amount to determine the sale price.
  7. DEPOSIT ON REAL ESTATE: Immediately following the sale, successful bidders will be required to sign an Offer of Purchase, a copy of which is available from the Auction Company. The successful bidder must pay a deposit in the amount of ten percent (10%) of the purchase price (high bid plus Buyer’s Premium) at the time the Offer of Purchase is signed on the day of sale. The deposit is payable by cash, cashier’s check or pre-approved personal check made payable to Mark D. Kidd, Special Commissioner. Personal checks will be approved if the Buyer presents, at time of registration, a letter from its bank stating that the Buyer is a customer of the bank and that the account on which the check is drawn is in good standing.
  8. CLOSING DATE: The balance of the purchase price is due within fifteen (15) days following entry of the decree confirming the sale. This is a cash transaction and is not conditioned upon the bidder obtaining financing.
  9. CLOSING COSTS: The purchaser shall pay any Grantor’s tax and all expenses of recording and closing.
  10. TRANSFER OF TITLE: The Real Estate will be conveyed by special warranty deed free and clear of all liens, except as noted in paragraph 4 above and current real estate taxes which shall be prorated.
  11. BIDDER PACKETS: Preliminary Bidder Packets containing assessor’s cards and other information about the properties are available from the Auction Company upon request.
  12. WITHDRAWAL OF PROPERTY: The Seller may withdraw a property from the sale if the current owner exercises its right to redeem before 5:00 PM on April 28, 2021.
  13. WEB SITE: Visit www.woltz.com for additional photographs and other information.

SOLD – Thistle Foundry Bankruptcy Auction

 

Real Estate Offered in 3 Tracts

Tract Property Address Tax Map Number Acreage (±) Building SF (±) Assessed Value
1 101 Thistle Street 024A2A 0057   7,399 $143,900
2 108 Thistle Street 024A2A 0059 0.80 17,404 $293,400
3 124 Mill Street 024A2A 0060 1.128 6,760 $156,000
Information taken from Virginia Mass Appraisal Network

Thistle Foundry & Machine Company, founded in 1898 and located in Bluefield, Virginia was one of the ten oldest steel companies in the U.S. This Foundry has supplied steel and metal castings to customers all across the country. The time has come for this longtime business to seek new ownership. Real Estate, foundry equipment, casting patterns, and tools all offered for sale. Take this fully functioning Foundry and make it your own.

 

Additional features in full screen mode

Equipment Sale

• 1988 International S1700 Dump Truck, 142,288 Miles on Odometer
• 1999 GMC Flatbed Truck, Gas, 162,005 Miles on Odometer (Has Not Been Started)
• Daewoo G30S Forklift
• Daewoo G25S Forklift
• Bobcat Skid Steer Model 751
• Carry Safe Company Metal Safe
• Craftsman Bandsaw
• Brickford Drill Press
• Magnaflux Testing Machine Model H-600
• Summit Bandsaw 250M
• Heavy Duty Metal Storage Racks
• Summit Lathe
• Metal Filing Cabinets (Multiple)
• Baird Spectrometer
• Jet JRD 700 Drill Press
• Oster Pipe Threader Model 792A
• 5 Foot Bucket Attachment for Bobcat
• Hammer Attachment for Bobcat
• Kloster Sand Machine
• Misc Hand Tools and Drill Bits
• And much more

Directions

From I-77 Exit 1: Take US-52 N toward Bluefield and go 2.0 miles, using right lane to merge onto US-460 E (Ramp to Princeton) Turn left onto US-19 S. Travel 6 miles and turn right onto Graham Avenue for 0.1 mile. Continue onto Trial of Lonesome Pine/Virginia Avenue for 1.1 miles and turn left onto Thistle Street. Turn right to stay on Thistle Street and property is on right.

Distance

Princeton, WV – 15 miles
Blacksburg, VA – 40 miles
Christiansburg, VA – 40 miles
Wytheville, VA – 40 miles
Beckley, WV – 55 miles
Bristol, VA – 88 miles
Charleston, WV – 111 miles
Roanoke, VA – 113 miles

5% Buyer’s Premium on Real Estate • 10% Buyer’s Premium on Personal Property

Personal Property Pickup Following Sale and February 28 from 8 AM to 4 PM

REAL ESTATE TERMS AND CONDITIONS OF AUCTION

  1. REGISTRATION: Bids will be accepted only from registered bidders. Registration begins at 8:30 AM EST.  Please bring a driver’s license for identification. The personal property auction will immediately follow the real estate auction.
  2. AUCTION SALE: This is a Trustee’s Bankruptcy Auction and the property is being sold ABSOLUTE, subject only to final approval of the U.S. Bankruptcy Court, which we will obtain promptly after the sale. 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.
  3. AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLER, ANDREW S. GOLDSTEIN, CHAPTER 7 TRUSTEE, FOR THISTLE FOUNDRY & MACHINE COMPANY, INC.
  4. 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.
  5. LIABILITY: Bidders inspecting property enter at their own risk. Auction Company assumes no risk for bodily injury or damage to personal property.
  6. BIDDING: Qualified bidders may bid on the property. The auctioneer will determine all bid increments. All decisions by the auctioneer regarding bid acceptance are final.
  7. ANNOUNCEMENTS: Announcements on day of sale take precedence over all prior releases, verbal and written, concerning this auction sale.
  8. 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 sales price.
  9. REAL ESTATE DEPOSIT: A Deposit in the amount of ten percent (10%) of the contract sales price will be required on day of sale. The Deposit is payable by cash, cashier’s check, or certified funds payable to the Trustee, Andrew S. Goldstein.
  10. 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 which shall be within fifteen (15) days of U. S. Bankruptcy Court approval.  Tracts will be deeded in the manner purchased at the auction.
  11. BOUNDARY LINES:  Boundaries on aerial photos are approximate. Refer to the Title Commitment, Schedule A, Legal Description for each tract’s description.
  12. ELECTRICITY: The properties are served by one meter box located on 101 Thistle Street.  If the properties are sold individually, it is the buyer’s responsibility to install a new meter box within thirty (30) days of settlement.
  13. 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.
  14. TRUSTEE DOCUMENTS:  Copies of the memorandum of sale and other trustee documents will be available online at woltz.com.

PERSONAL PROPERTY TERMS AND CONDITIONS OF AUCTION

    1. REGISTRATION: Bids will be accepted only from registered bidders. Registration begins on site at 8:30 AM EST. Please bring your driver’s license for identification.  This auction will immediately follow the real estate auction.
    2. TERMS OF SALE: This is a Trustee’s Bankruptcy Auction and the personal property will be sold ABSOLUTE to the highest bidder. All property is sold “AS IS, WHERE IS” on the date of sale without any warranty of merchantability or fitness for a particular purpose. Bidders are responsible for performing such independent investigation with respect to the property as they deem necessary or appropriate. ALL SALES ARE FINAL.
    3. AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLER, ANDREW S. GOLDSTEIN, CHAPTER 7 TRUSTEE, FOR THISTLE FOUNDRY & MACHINE COMPANY, INC.
    4. ANNOUNCEMENTS: Announcements day of sale take precedence over all prior releases, verbal and written, concerning this sale.
    5. BIDDING: The auctioneer will determine bid increments.
    6. LIABILITY: Bidders inspecting the property enter at their own risk. Auction Company assumes no risk for bodily injury or damage to personal property.
    7. BUYER’S PREMIUM: A Buyer’s Premium will be charged. The Buyer’s Premium on personal property is ten percent (10%) of the high bid amount. The Buyer’s Premium is added to the high bid amount to determine the sales price.
    8. PAYMENT: All personal property must be paid for in full on sale day by cash, cashier’s check or pre-approved personal or business check made payable to Woltz & Associates, Inc. Buyers will be provided a receipt which must be provided when picking up your items purchased. KEYS & TITLES TO VEHICLES:  Titles and keys to vehicles will be provided upon receipt of payment by cash, cashier’s check or wire transfer.  If a personal or business check is used for the payment of a vehicle, the title and keys will not be provided to the bidder until the check has cleared.
    9. REMOVAL OF PERSONAL PROPERTY: Paid in full receipt must be shown at pickup.  All personal property becomes the responsibility of the buyer at the time of the sale. Neither the Auction Company nor the Seller provides equipment or labor to remove items purchased.  All personal property (with the exception of vehicles for which payment is not made by cash, cashier’s check or wire transfer) must be removed from the property by 4:00 PM EST, Sunday, February 28, 2021, unless prior arrangements are made with the Auction Company.  Lot #34-Forklift and Lot #54-Bobcat skid steer will be used Saturday and Sunday to move equipment.  These two items can be picked up Sunday, February 28, after 2:00 PM EST. Removal Times:  Day of sale and Sunday February 28, 8:00 AM to 4:00 PM EST. 
    1. MACHINERY DISCONNECTS: All electrical, mechanical and plumbing disconnects must be made in a professional and workman-like manner by a licensed contractor. Electrical, mechanical and plumbing terminators shall be made at the nearest junction box or union to the equipment. Any building penetrations removed (g., piping) shall be re-sealed in a professional and workman-like manner at the expense of the machinery purchaser.
    2. GENERAL: The information provided by Seller and Auction Company is deemed accurate but is subject to verification by all parties relying on it. No liability for its accuracy, error, or omissions is assumed by the Seller or Auction Company.
    3. INVENTORY OF PERSONAL PROPERTY: An inventory of personal property being sold will be available at the previews, at woltz.com or upon request to the Auction Company.