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), HBD (Highway Business District) or LM (Light Manufacturing 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
- 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.
- AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLER, MARK D. KIDD, SPECIAL COMMISSIONER.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- CLOSING COSTS: The purchaser shall pay any Grantor’s tax and all expenses of recording and closing.
- 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.
- BIDDER PACKETS: Preliminary Bidder Packets containing assessor’s cards and other information about the properties are available from the Auction Company upon request.
- 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.WEB SITE: Visit www.woltz.com for additional photographs and other information.