Property sold as-is, where-is. 10% Buyers Premium will be added to the high bid. View website for complete terms and conditions. Registered agents and referrals welcome. 2% broker participation
Auction Type:Reserve Auction
Property Location:(7) Lots located on Alydar Ct., & Orlando Rds., Nokesville, VA
Date & Time:Thurs. December 14 @ 4:00 p.m.
Inspection Dates: Sunday, Dec. 3rd, 1-4pm; Thursday, December 6, 1-4 pm or by appt.
Auction representative will meet at 9950 Alydar Ct. for tour and information.
Property Description: SEVEN (10+/- Ac.) Lots with great potential for developer or future homeowner. The Buyer will have the opportunity to bid and buy (1) parcel or as many as he/she wants or he/she can buy the entire 73 +/- acres as divided. The method of sale will be “High Bidder’s Choice.”
1. Ownership will convey by Warranty Deed.
2. A total deposit of 5% of the contract price will be required at the conclusion of the auction.
Of the 5% deposit, $5,000 will be required in the form of cash or cashier's check (payable to yourself). The difference of the 5% and the $5,000 cashier’s check can be in the form of a personal check with proper ID. Closing/Settlement is on or before Monday, January 15, 2018 by 5:00 PM
3. Broker Participation Form can be downloaded at our website.
Brokers must pre-register 24-hours prior to the Auction listing their client and accompany
their buyer to the Auction and through the contract signing and closing process.
4. There is a 10% Buyer’s Premium which will be added to the high bid to determine the final
contract price. The Buyer’s Premium is 11% if bidding online.
5. Photos and terms available at: http://www.ABCole.com or www.BidNovaLots.com
6. All auction properties are sold “As Is, Where Is” with all faults.
7. Pre-Auction offers welcome!
For specific questions, call Tony Arko at 571-238-6882
8. Please see Complete Terms and Conditions as shown in Documents listed on websites.
ALL INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED!
ONLINE AUCTION BIDDING TERMS:
A 10% Buyers Premium will be added to the total winning bid amount (11% for online bidders) to determine the contract purchase price. The sale of the property is an "all cash" transaction and is not subject to any financing or due diligence. As a bidder, you are encouraged to bid on this property only if you have had an opportunity to inspect and examine the condition of the property. This property is being sold "As-Is" without any contingencies.
1. Ownership will convey by Warranty Deed. 2. A total deposit of 5% of the contract price will be required at the conclusion of the auction. Of the 5% deposit, $5,000 will be required in the form of cash or cashier's check (payable to yourself). The difference of the 5% and the $5,000 cashier's check can be in the form of a personal check with proper ID. IF YOU ARE AN ONLINE BIDDER, YOU WILL NEED TO WIRE A DEPOSIT OF $5,000 INTO OUR ESCROW ACCOUNT PRIOR TO THE AUCTION. IF YOU ARE THE SUCCESSFUL BIDDER ONLINE, YOU WILL THEN NEED TO SEND THE DIFFERENCE IN THE $5,000 DEPOSIT AND THE 5% REQUIRED DEPOSIT WITHIN 72 HOURS OF THE AUCTION VIA WIRE TRANSFER PER THE WIRING INSTRUCTIONS THAT WILL BE SENT TO YOU VIA EMAIL. IF YOU ARE NOT THE SUCCESSFUL BIDDER THE $5,000 DEPOSIT WILL BE REFUNDED BACK TO YOU WITHIN 72 HOURS OF THE AUCTION. 3. Closing/Settlement is within 30-day of the auction. 4. Broker Participation must be completed for all real estate agents/brokers representing a potential buyer. A Broker's Participation Form can be found on our website. Brokers must pre-register 24-hours prior to the Auction listing their client and accompany their buyer to the Auction and through the contract signing and closing process. 5. There is a 10% Buyer's Premium (11% Buyer's Premium for online bidders) which will be added to the high bid to determine the final contract price. 6. Photos and terms available at: http://www.ABCole.com or http://BidNOVAlots.com 7. All auction properties are sold "As Is, Where Is" with all faults. 8. Pre-Auction offers welcome! 9. For specific questions, call Barry Cole at 757-785-0317 or Ernie Rogers at 804-334-4558. ALL INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED! Partial Terms of Sale: All bidders must register for the auction by completing a Bidder Registration Form and sign that they have received a copy of the complete terms of the auction. A 10% Buyer's Premium (11% Buyer's Premium for online bidders) will be added to the high bid at the auction to determine the final contract sales price. As an example, if you bid $100,000 for a property at auction, the contract sale price will be $110,000 OR $111,000 IF BIDDING ONLINE. Another example would be if you bid $200,000 for a property at auction, the contract price will be $220,000 OR $222,000 IF BIDDING ONLINE. A 5% non-refundable deposit is required after the auction payable to A.B. Cole & Associates of which $5,000 will be in the form of a cashier's check and the difference of the $5,000 and the 5% can be in the form of a personal check with proper identification with the balance due at closing. The closing will take place within 30-days of the auction unless specified otherwise or as soon thereafter as necessary to correct any defects in title. If you are not prepared to make the required deposit and close within the timeframe stated, please do not bid. All properties sold at auction are sold "As Is - Where Is - With All Faults" without any warranties or representations neither expressed nor implied. This is an "ALL CASH" transaction, financing is not a contingency of the sale. It is understood and agreed that fee simple title, at the time of closing, will be conveyed to the Purchaser by Warranty Deed. The Auctioneer reserves the right to bid on behalf of the Seller up until the reserve price is achieved. The auction is subject to Seller approval. The auctioneer is an agent for the Seller. Announcements made the day of sale take precedence over any printed material or other oral statements made. All information contained herein is believed to be correct, but is not guaranteed. All purchasers must independently investigate and confirm any information or assumption on which any bid is based. If the closing does not occur for any reason whatsoever, other than solely due to the fault of the Seller, Seller shall retain the earnest money deposit as a measure of liquidated damages. This provision shall in no way affect the right of Seller and Auctioneer to rely upon and to exercise any other legal remedies or recourse available to them, including without limitation seeking specific performance or monetary damages, in the event the closing contemplated herein does not occur due to default by Purchaser. Purchaser further agrees to pay all attorney fees, court costs and other costs of collection/enforcement incurred by Auctioneer and Seller due to a default by Purchaser. The auction is subject to cancellation, additions, deletions, or postponement. The real estate taxes will be pro-rated to the date of closing. For more information, please contact A.B. Cole and Associates. VAAF 0796
ADDITIONAL TERMS & CONDITIONS OF SALE All persons bidding or otherwise attending auction ("Bidders") acknowledge the following terms and conditions ("Terms and Conditions") and agree to be bound by them. 1. Bidding. Bidding is open to the public without regard to race, color, sex, religion, or national origin. All bidders are required to have a bidder's number to bid. To obtain a bidder's number, a registration form must be filled out including full name, address, phone number, and other information. 2. Bidding Procedures: (1) Method, order of sale, and bidding increments shall be at the sole discretion of the auctioneer. (2) The auctioneer reserves the right to delete or add items at its discretion. (3) AB Cole & Associates Realty & Auction LLC may act to protect the interest of buyers and sellers as an agent, by bidding through the auctioneer. (4) The auctioneer may open bidding on any item by placing a bid as an agent for any buyer or seller. (5) The auctioneer may continue to bid as an agent for a buyer or seller, either by placing consecutive bids or by placing bids in response to other bidders. 3. Auctioneer Authority. Announcements (both verbal and written) made on the day of the auction will take precedence over all printed material or oral statements made. The auctioneer has the authority, at his sole and absolute discretion, to deviate from, change, alter, or modify, the bidding procedures and conduct of the auction, at any time, including after commencement of the auction. 4. Bid Execution. Bids which are submitted to AB Cole & Associates Realty & Auction LLC in writing, through the Internet, or otherwise placed with AB Cole & Associates Realty & Auction LLC prior to or during an auction for execution at or below a specified price shall be entertained and executed by AB Cole & Associates Realty & Auction LLC for the convenience of bidders. AB Cole & Associates Realty & Auction LLC shall not be responsible for failing to execute such bids or for errors relating to the execution or such bids. Auctioneer is not responsible for a bidder's inability to place any bid, internet or otherwise for this auction for any reason. In the event of technology issues with Internet sales, or for other reasons, the Auctioneer reserves the right to reopen or extend Internet bidding as it deems necessary and appropriate. 5. Purchaser Defined. The highest bidder whose bid is accepted by AB Cole & Associates Realty & Auction LLC Asset Disposition Group ("AB Cole & Associates Realty & Auction LLC" or "Auctioneer"), is the Purchaser ("Purchaser"). The "Final Bid" shall be the Purchaser's bid as accepted by the Auctioneer, and all items are "Purchased" when the Purchase Price is accepted. 6. Buyer's Premium. The Buyer's Premium shall be paid by the Purchaser and will be added to the Final Bid on the item to determine the "Purchase Price". If there is no Buyer's Premium, the Final Bid is the Purchase Price. See Section "Buyer's Premium" in the Sale Information portion. 7. ALL SALES ARE FINAL. All bidders are responsible to determine the age, description, condition, and authenticity of all Purchased items. Each item is auctioned "AS IS, WHERE IS, with all faults" in its condition at the time of sale, without any warranties or guarantees, either expressed or implied, INCLUDING BUT NOT LIMITED TO WARRANTIES OF TITLE, POSSESSION, QUIET ENJOYMENT, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE, and without recourse by way of refund, reduction of the Purchase Price, or otherwise. No purchase will be set aside, nor will Auctioneer be liable, for incorrectness in description, misnomer, errors in cataloging, imperfection, or mislabeling of any item. 8. Catalog. The listing catalog has been prepared only as a guide based on information from sources believed to be reliable, but the accuracy thereof cannot be guaranteed or warranted by AB Cole & Associates Realty & Auction LLC. All announcements from the auction stand on auction day, to the extent that they are different from prior printed material take precedence. Any information provided by AB Cole & Associates Realty & Auction LLC or its representatives, verbal or otherwise, is not guaranteed. 9. Disputes. Should a dispute arise between two or more bidders, the Auctioneer may re-open the bidding between the high bidders until the property is purchased. Should the Auctioneer and a bid assistant (bid spotter) simultaneously recognize conflicting bidders, even if the Auctioneer has announced the item as "sold," the Auctioneer may re-open the bidding between the high bidders until the property is purchased. The Auctioneer will determine the purchaser and his decision shall be final and absolute. 10. AB Cole & Associates Realty & Auction LLC reserves the right to cancel the entire auction without notice or liability to AB Cole & Associates Realty & Auction LLC. 14. 16. Arbitration. Bidders agree that any controversy or claim arising out of or relating to these Terms and Conditions shall be settled by arbitration in Suffolk, Virginia, administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules, and judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. Bidders agree that AB Cole & Associates Realty & Auction LLC shall be entitled to its reasonable attorneys' fees (25% of any amount awarded to AB Cole & Associates Realty & Auction LLC) incurred in any arbitration or action to enforce or otherwise related to these Terms and Conditions. 17. SHERMAN ANTITRUST ACT. Title 15, Section 1 of the United States Code specifically prohibits any agreements that restrain trade and commerce and declares them to be illegal and a federal felony. The law provides: 'Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is declared to be illegal. Every person who shall make any contract or engage in any combination or conspiracy hereby declared to be illegal shall be deemed guilty of a felony, and, on conviction thereof, shall be punished by fine not exceeding $10,000,000 if a corporation, or, if any other person, $350,000, or by imprisonment not exceeding three years, or by both said punishments, in the discretion of the court.' Any agreement among potential bidders at this auction not to bid against one another, or otherwise to dampen the bidding process, is illegal and will be immediately reported by AB Cole & Associates Realty & Auction LLC to the United States Attorney and the Department of Justice for investigation and prosecution. This is a very serious matter and we want you to view it as such and conduct yourselves accordingly. 18. Acceptance. Bidding on any items or otherwise attending the auction indicates acceptance of these Terms and Conditions.
ONLINE BIDDING INCREMENTS
Your bid must adhere to the bid increment schedule.
Bid Amount 0.000 - $9,999,999.99
Minimum Bid Increment $1,000.00
Buyer's Premium 10% at the auction or 11% if bidding online
Payment Terms At the Auction: 5% deposit the night of the auction
Online bidding: $5,000 wired to the auction company prior
to the auction. The difference between the 5% deposit and the
$5,000 deposit is to be wired to the auctioneer within 72 hours of
YOU MUST SIGN AND RETURN THIS FORM AND THE AUCTION TERMS WHICH WILL BE EMAILED TO YOU. YOU CAN SIGN AND FAX THESE DOCUMENTS TO 804-486-9840 OR EMAIL DIRECTLY TO ERNIE@ABCOLE.COM
FOR SPECIFIC QUESTIONS ABOUT ONLINE BIDDING FOR THIS AUCTION, CALL KATHY COLE AT
EITHER 757-539-9866 OR 757-285-0319
For Wiring instructions to be emailed to you, call Ernie Rogers at 804-334-4558 or Kathy Cole at 757-285-0319 or email request to Ernie@ABCole.com or KCole@ABCole.com
The Website for online bidding is: http://ABColeRealty.HiBid.com
I hereby acknowledge receipt of these online bidding terms.
____________________________________________________ ____________________________ _______________
Name (Print) Signature Date
SIGN AND RETURN VIA EMAIL TO ERNIE@ABCOLE.COM OR FAX TO 804-486-9840.