60 +/- Acres offered up in 11 tracts ranging from 3.4 +/- acres to 9.5+/- acres Reedside Drive, Fancy Gap, VA Owner has valuable information posted at:  www.fancygapvafarms.com Over 4000 feet on Little Reed Island Creek  

December 8, 2018 @ 11:00am

ONSITE AND ONLINE

Breathtaking Acreage in Fancy Gap, VA

60 +/- Acres, Offered in 11 tracts, ranging from 3.4 +/- acres to 9.5+/- acres, combinations and as a whole.  Owner has valuable information on their webpage:  www.fancygapvafarms.com

Exceptional Location: within 1 -1/2 mile of I-77, One and half miles from the beautiful Blue Ridge Parkway, 20 minutes to Mayberry RFD (Mount Airy, NC) an only a short distance from the Mountain Music Park.

This property has been a cattle farm for many years. The neighborhood is quiet and undeveloped with farms surrounding the entire area and views that are clean and clear of clutter. 

Over 4000 Feet of Creek Frontage

Tracts 1-6 Have Creek Frontage on Little Reed Island Creek perfect for cabins or private estate.

Commercial Property Potential - Just minutes from I-77 and would make a great location for a Hotel as this areas offers close proximity to Bristol Motor Speedway, Lowe's Motor Speedway, and the most traveled entrance to the Blue Ridge Parkways.

Also, still on property is 40x60 barn with hay loft, corn crib, storage shed, onsite watering system for livestock, and new 7 Strand smooth high tensile fence around the perimeter.

Pin# 114-A-6, 114-A-7, 114-5-9, 114-5-10, and 114-5-11

10% Buyer's Premium

10% Deposit Due Day of Sale

Sells AS-IS

Announcements at Auction take precedence over all advertised materials written or oral.

 

Dale Fulk, Auctioneer/Sale Manager

(336) 970-1866

dalefulk@rogersrealty.com

VAAL #2

PLEASE DO NOT BID UNTIL YOU HAVE READ THESE TERMS AND CONDITIONS OF SALE.

Real Estate is subject to sale prior to the auction.

AS IS: The real property will be offered at public auction with live bidding onsite and online bidding for pre-approved bidders with an account at www.rogersauctiongroup.com, subject to all online terms and conditions, and approval to bid by the auction manager.

 All improvements, buildings, sheds, structures, etc., sell with the property. The property and all improvements, if any, will be sold on an AS-IS, WHERE IS, WITH ALL FAULTS, conditions, defects, or flaws. The buyer agrees to take the property in the condition existing. No representations or warranties, expressed or implied, concerning the property are made by neither the sellers nor the seller's agents. Descriptions of the improvements and property are believed to be correct but are not guaranteed. You are encouraged to conduct your inspections and due diligence prior to bidding and buying at the auction.

EASEMENTS and RIGHT OF WAYS: The real estate is being sold subject to any and all easements or right of ways. Lease payments or rents, if any, will be pro-rated at closing.

ALLOTMENTS and MINERAL RIGHTS: Crop allotments, mineral rights, timber rights, water rights, if any, will transfer with the deed or title.

HOA, POA, and RESTRICTIVE COVENANTS:  The real property is being sold subject to restrictive covenants and homeowner's association rules, regulations and dues and county zoning.

METHOD OF SALE:  The auction company will offer the property in separate tracts initially and reserves the right to offer tracts again in blocks, combinations and groups. Auction firm reserves the right to sell the property in separate tracts, or in any combination or as a whole for the highest prices to the benefit of the owner-seller. Owner-seller directs the Auction Firm to sell in any method that the owner-seller approves.

SURVEY:  The property will be sold subject to an existing survey or the existing legal description.

PERK TEST: Perk test are the responsibility of the buyer and the contract is not contingent upon the soil having a satisfactory perk.

FINANCING: The sale is not subject to financing. Failure to close for ANY REASON WHAT SO EVER will result in the forfeiture of the deposit. NO EXCEPTIONS.

DEPOSIT REQUIRED AT AUCTION: Terms are for a deposit of 10% of the purchase price on site at the auction in cash, cashier's check or a check with a bank letter guaranteeing funds.

PURCHASE CONTRACT: Buyer will be required to execute a Real Property Auction Purchase and Sale Contract on site and submit their deposit.

NO CONTINGENCIES: The purchase and sale contract is not subject to any buyer contingencies for financing, appraisal, surveys, inspection or any other contingencies.

AGENCY: Buyer will be asked to sign an agency disclosure form stating that buyer is aware that Rogers’ agents represent the seller. Rogers' agents represent the seller and the seller's interest in the transaction.

ENVIRONMENTAL:  There are not any environmental studies, phase 1, phase 2, or phase 3 studies for review. There are not any soil or water studies for review.

PERSONAL PROPERTY: There is no personal property or merchandise being transferred with the real property of value.

CLOSING: Closing is to take place in not more than 30 days from the date of the auction. TIME IS OF THE ESSENCE. All closing costs for the benefit of the buyer such as appraisals, surveys, loan applications, inspections, title searches, title insurance, etc. are the responsibility of the buyer. The seller is not paying for any of the buyers closing costs. . The deed paid for by the sellers, the deed stamps paid by the sellers, and recording fees to be paid by the buyers. Real estate taxes are pro-rated at closing.

BUYER'S PREMIUM: A buyer's premium of 10% is added to the last and highest bid to determine the contract purchase price. For example, if the high bid is $100,000.00, a buyer's premium of $10,000.00 is added and the purchase price would be $110,000.00

POSSESSION: Possession will be given at closing, subject to existing leases, if any.

ABSOLUTE/RESERVE: This auction is conducted subject to a reserve price established by the seller.

BID RIGGING: Bid rigging is a felony. Any attempt by bidders to chill the bid, agree with other bidders not to bid to attempt to lower the price is bid rigging. Anyone suspected of bid rigging will be asked to leave the auction site.

DISPUTED BIDS AND INCREMENTS: In case of a dispute over who is the high bidder, the auctioneer has the sole discretion to determine the high bidder. The auctioneer has the sole discretion to determine the live auction bidding increments.  

It is the duty of the bidder to present their bid to the auctioneer and not that of auction support staff, auction Ringman, auction bid assistants, or the auctioneer.

QUALIFIED BIDDERS:
Auctioneer reserves the right to refuse to register any prospective bidder for any reason, or to require a cash deposit from a prospective bidder of an amount designated by Auctioneer and paid in advance by the prospective bidder to Auctioneer. Such deposit will be applied to any purchases made at the auction by the prospective bidder. At the end of the auction, Auctioneer will refund any portion of this deposit that has not been applied to purchases. Furthermore, Auctioneer will require the removal of any person from the auction site for any reason including, but not limited to: (1) tampering with auction lots; (2) any illegal conduct including collusive bidding or stealing; (3) disruptive behavior; (4) failure to abide by these terms; and (5) intoxication. Bidder agrees to leave the auction site immediately and quietly upon request by Auctioneer. Any act of theft, vandalism or disruption will be prosecuted to the fullest extent of the laws.

DEFAULT BY HIGH BIDDER/BUYER: In the event of a default by the bidder/buyer the seller may resale the property to another bidder/buyer and in the event the property sells for less money than the original price the seller may seek the difference from the original bidder/buyer. The seller may have other rights to pursue damages or costs from the defaulted bidder/buyer as allowed by law.

ONLINE BIDDING: Bidders must open an account at www.rogersauctiongroup.com. Bidders must be approved by the auction firm. Bidders must log in and register to bid during the auction.

The auction company provides online bidding as a convenience for those that cannot attend. The auction company will not be liable for any faulty equipment, failure of equipment, faulty software, failure of software, lack of internet service connections or signals, or failure for any online bids that are not relayed on time to the auction company. Successful high bidders agree to allow the auction firm to charge their credit card for a deposit of 10% of the purchase price after adding the 10% buyer’s premium to determine the purchase price. Online bidders will be emailed a purchase contract if they are the successful bidder approved by the owners-sellers and bidders agree to return a signed and executed copy of all documents within 24 hours of the close of the auction. Online bidder acknowledges and agrees the above terms regarding the property apply to the online bidder.

 


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