PM Auction Tract 7:
216 College St., Martinsville, VA., Five Plex, Zoned C-N.
Tax Map Number: 32 (01 )N /34
Parcel ID: 000778200
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Terms & Conditions Of Auction
1. REGISTRATION: Bids will be accepted only from registered bidders. Registration begins at 9:00 AM for the AM SESSION and 3:00 PM for the PM SESSION. Please bring a driver’s license for identification.
2. AUCTION SALE: The property will be sold subject to seller confirmation of the high bid. ALL CONFIRMED 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. 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.
4. LIABILITY: Bidders inspecting property enter at their own risk. Auction Company and Seller assume no risk for bodily injury or damage to personal property.
5. BIDDING: Qualified bidders may bid on individual tracts or any grouping of tracts. The auctioneer will determine all bid increments. All decisions by the auctioneer regarding bid acceptance are final.
6. ANNOUNCEMENTS: Announcements on day of sale take precedence over all prior releases, verbal and written, concerning this auction sale.
7. BUYER’S PREMIUM: The Buyer’s Premium on the real estate is 5% of the high bid amount. The Buyer’s Premium will be added to the high bid to determine the final sale price.
8. AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLER.
9. LEAD PAINT: The majority of the properties in this auction were built prior to 1978 and may contain lead-based paint. A lead-paint inspection may be performed by bidders prior to the auction sale date. Applicable lead paint documents and information are available from Auction Company. Bidders will be provided a lead-paint disclosure prior to signing a real estate purchase agreement and agree to waive the ten (10) day right to inspection after the auction sale.
10. REAL ESTATE DEPOSIT: A deposit in the amount of ten percent (10%) of the contract sale price will be required on day of sale. The deposit is payable by cash, cashier’s check, or pre-approved personal check payable to Woltz & Associates, Inc. Escrow Account. Personal checks will be approved if the Buyer presents a bank letter stating that the Buyer is a customer of the bank and the checking account is in good standing.
11. 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 on or before January 3, 2023. There will be no assigning of tracts or deeds between bidders. Tracts will be deeded in the manner purchased at the auction.
12. BOUNDARY LINES: Boundaries on aerial photos and topo maps are approximate.
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. LEASES: Copies of all the leases we have are on our web site and all properties are being sold subject to their existing lease. Rents posted in brochure and on website are from management company and are believed to be accurate.