This Auction is being conducted subject to the Terms and Conditions of Sale and the Sealed Bid Auction Real Estate Purchase Agreement.
BIDDER’S INFORMATION PACKET: Detailed Bidder’s Information Packets containing the Sealed Bid Auction Real Estate Purchase Agreement, title report, survey, tax parcel numbers, aerial and topographic maps, soil reports and bidding instructions are available from our office via email or mail order. A Bid Packet MUST be obtained and documents filled out with a deposit in order to submit a bid.
BIDDING: The properties are hereby offered by sealed bid auction subject to Seller confirmation. To participate and bid in the auctions, your fully executed Sealed Bid Auction Real Estate Purchase Agreement (contained in the Bidder’s Information Packet) must be received by the Auction Company on or before 3:00 p.m., Wednesday, October 30, 2019.
BID BASIS: Bidding is by lump sum bid. You must bid on each property individually (Sale 1 or Sale 2). Properties shown for Sale 1 & Sale 2 will be on Exhibit B in the Sealed Bid Auction Real Estate Purchase Agreement for each sale.
BUYER’S PREMIUM: A five percent (5%) buyer’s premium must be added to the high bid to determine the total Purchase Price.
EARNEST MONEY DEPOSIT: A Deposit of ten percent (10%) of the total Purchase Price must accompany the bid either by cashier’s check or wire transfer. Deposit checks must be made payable to “Woltz & Associates, Inc. Escrow Account.” Cashier’s checks will be held uncashed during the bid consideration period. All Deposits on offers not accepted will be returned by mail on or before Friday, November 1, 2019. Deposits for accepted winning bid(s) will be deposited into the Woltz & Associates, Inc. Escrow Account and held per the terms of the Sealed Bid Auction Real Estate Purchase Agreement.
BID OPENING: Bids will be opened at the offices of Woltz & Associates, Inc., 23 Franklin Road, SW, Roanoke, Virginia at 3:00 p.m. on Wednesday, October 30, 2019. Only the high bid for each tract will be announced.
NOTIFICATION OF ACCEPTED BIDS: The successful bidder(s) will be notified on or before 5:00 p.m. on Thursday, October 31, 2019.
TIE BIDS: In the event of any tie bids, Seller may accept the bid of Seller’s choice, or Seller may elect to give the tie bidders the opportunity to make their best and final offer with five (5) business days’ notice.
SETTLEMENT: The real estate will be conveyed by general 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 Monday, December 16, 2019.
ALL SALES ARE FINAL: 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.
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.
BROKER PARTICIPATION: Any actively licensed Virginia broker (Sale 1) and West Virginia broker (Sale 2) whose agents properly registers the successful high bidder will be paid a two percent (2%) commission based upon the contract sales price 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. accompanying the Sealed Bid Auction Real Estate Purchase Agreement and Deposit. 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. Only one registered bidder per agent.
BOUNDARY LINES: Boundaries on aerial photos and topo maps are approximate.
DISCLOSURES: Any disclosures known by the auction company can be found in the Bidder’s Information Packets. Bidders are encouraged to perform their own due diligence before submitting bid for the property.
AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE
SELLER.
GENERAL: The information contained in this brochure and otherwise provided by Seller and Auction Company 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.