ABSOLUTE AUCTION
BANK OWNED PROPERTIES
Auction Date: Thursday, March 1st at 7:00 p.m.
Auction to be held at the Lake Land 'Or Clubhouse at 321 Landor Drive, Ruther Glen, Virginia
Previews: February 24th and February 25th from 12:00 noon to 5:00 p.m.
(Come to the Lake Land 'Or Clubhouse to meet with Agents)
Selling Agents Make 5% Commission
8 Residential Lots in Lake Caroline
1,200+ homes in the Community
Interstate 95 - Exit 110- Ladysmith
Formerly Listed at $15,000.00 per lot
- Three Large Lakes
- Lodge with Meeting Rooms
- Beaches and Swimming Pools
- Basketball and Tennis Courts
- Boating and Water Skiing
- Multiple Parks and Recreation Areas
8 Residential Building Lots
110 American Drive (Lot 1393), Ruther Glen, VA
117 Patrick Henry Drive (847), Ruther Glen, VA
123 New Providence Drive (Lot 1208), Ruther Glen, VA
133 Waring Drive (Lot 922), Ruther Glen, VA
255 American Drive (Lot 1490), Ruther Glen, VA
503 Smith Drive (Lot 1502), Ruther Glen, VA
505 Smith Drive (Lot 1503), Ruther Glen, VA
607 Lake Carolina Drive (Lot 516), Ruther Glen, VA
For additional Information or
to view by appointment contact:
Pitts & Manns Realty, Inc.
Mike Manns, Broker
Ph: (804) 633-6267
All Lots were perked by Tidewater Septic and Rain Harvesting
Contact Deborah Flippo, Operations Cooridnator
(804) 448-3400 (ext. 226) For any questions about the Community
Contact Tidewater Septic and Rain Harvesting, Inc (540) 775-2011 (Rodney Whittaker) For any questions about soil and perks.
Basic Terms and Conditions:
1. REGISTRATION: Bids are only accepted from registered bidders. Driver’s license and a Cashier’s Check in the amount of $2,500.00 is required to get a bid number. Please have Cashier’s Check made payable to Walker Commercial Services, Inc. Exceptions WILL NOT be made.
2. DEPOSIT: Each successful bidder will sign an Auction Contract, immediately following the falling of the hammer. The entire Purchase Price of the Lot will be due at signing of the Contract. You will be required to write a personal check or pay cash for the difference between the $2,500.00 Cashier’s Check and the entire Purchase Price.
3. DISCLOSURE: In accordance with the Virginia Property Owner’s Association Disclosure Act, each successful bidder will be given a HOA Packet specific to their lot when signing the Auction Contract.
3. CLOSING: Closings are to take place within 20 days of sale - Time will be of the Essence.
4. DEED: Property to be conveyed by Special Warranty Deed. Property being sold by Branch Banking & Trust Company. All properties will be sold to the highest bidder regardless of the price. All sales are termed “ABSOLUTE”.
5. “AS-IS”, “WHERE-IS”: All properties, will be sold “AS-IS”, “WHERE-IS”. Potential Buyers must perform such independent investigations with respect to property as they deem necessary to verify information provided by Auction Company or Seller.
6. ANNOUNCEMENTS: Announcements made on the day of sale take precedence over all prior communications, both verbal and written, concerning this sale or properties.
7. WARRANTY: All information provided by Auction Company and Seller is deemed reliable but is not warranted. The information contained in this brochure and any advertisements by Auction Company or Seller are subject to verification by all parties relying on it. No liability for its accuracy, error or omission is assumed by the Auction Company and Seller.
8. REPRESENTATION: Auction Company and its representatives represent the Seller.
9. BUYER’S PREMIUM: There is a 10% Buyer’s Premium in effect on day of sale. The Buyer’s Premium is added to the high bid amount, to determine the Contract Sales Price. The entire Contract Sales Price is due at the Auction ($2,500.00 in the form of a Cashier’s Check and the balance in a personal check or cash) will be due immediately following the Auction.
10. BID INCREMENTS: Auctioneer reserves the right to set bid increments.
11. BROKER PARTICIPATION: There will be a 5% Broker Participation paid to the Brokers representing the successful bidders and meeting the qualifications. Contact Walker Commercial Services, Inc. for the form or download form from our website: www.walker-inc.com
