Broker Participation

Any broker actively licensed in the Commonwealth of Virginia whose agent properly registers the successful high bidder will be paid a commission of 20% of Auction Company’s net commission (approximately 1.2% of sale price) at settlement. Registration 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 Broker’s license number and Federal Tax ID number. The form must be received in the office of Woltz & Associates, Inc. by 12:00 noon on Wednesday, November 7, 2018. If prospect attends preview, agent must attend with prospect. Additionally, agent must attend sale and co-register with prospect on auction day. Only the first broker to register the high bidder will be paid a commission. Agents acting as principals, on behalf of licensed real estate agents, on behalf of family members, on behalf of entities in which they hold an ownership interest or who represent prospects who have had prior contact with Seller or Auction Company are not eligible.
Basic Terms & Conditions

REGISTRATION: Bids will be accepted only from registered bidders. Registration begins at 4:00 PM at the Holiday Inn Express and sale starts at 5:00 PM, Thursday November 8, 2018. Please bring a driver’s license for identification.
TERMS OF SALE: All property is sold “AS IS, WHERE IS.” Bidders should perform such independent investigation with respect to the property as they deem necessary or appropriate. ALL SALES ARE FINAL.
AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLER.
ANNOUNCEMENTS: Announcements day of sale take precedence over all prior communications, verbal and written, concerning this sale.
BIDDING: The auctioneer will determine bid increments. The tracts may be bid upon individually and in any combination.
BUYER’S PREMIUM: A Buyer’s Premium will be charged. The Buyer’s Premium on real estate is five percent (5%) of the high bid amount. The Buyer’s Premium is added to the high bid amount to determine the contract sales price.
DEPOSIT: A deposit in the amount of ten percent (10%) of the contract sales price (high bid plus buyer’s premium) will be required on day of sale. The deposit is payable by cashier’s check or a pre-approved personal check made payable to Woltz & Associates, Inc. Escrow Account. A personal check will be approved if, prior to or at the time of registration, the bidder presents a bank letter stating the bidder is a customer of the bank and that the checking account is in good standing.
CLOSING DATE FOR REAL ESTATE: The balance of the purchase price is due at settlement on or before December 21, 2018.
TRANSFER OF TITLE TO REAL ESTATE: The real estate will be conveyed by general warranty deed free and clear of liens subject, however, to any recorded rights of way, easements and conditions of record.
FINANCING: The sale of the real estate is not conditioned upon the bidder obtaining financing. Bidders should arrange any necessary financing prior to registering to bid.
BIDDER PACKET: A Bidder Packet with information regarding the real estate is available from the Auction Company and posted on our website at www.woltz.com.
BROCHURE: The information contained in this brochure is subject to independent verification by prospective bidders. Neither the Auction Company nor the Seller assume any liability for its accuracy, errors or omissions. Boundaries shown on aerial photographs are approximate. Please refer to survey for boundary locations.