ABSOLUTE TRUSTEE AUCTION: 310± ACRES Offered in 3 Tracts (Penhook, VA)
DATE: Saturday, March 14, 2020
AUCTION SALE SITE: Tract 1 - entrance off of Sago Rd or Circle Creek Rd.
PROPERTY INFORMATION: The 310± acres will be offered in the following tracts:
Tract 1) 57± acres (Tax Map #106-27)
Access to Tract 1 is from Sago Rd or Circle Creek Rd.
Approximately 50% open land & 50% wooded land; has small pond.
Tract 2) 135± acres (Tax Map #106-26)
There is a deeded easement to this tract from Sago Rd. through Tract 1.
The tract also has road frontage on Circle Creek Rd with an access point.
Mostly wooded with an old house, barn and a pond.
Tract 3) 116± acres (Tax Map #106-24)
This tract has road frontage on Witcher Rd.
Approximately 45% open fields, the balance wooded, old barn with pond and nice creek running through it.
AUCTION SITE DIRECTIONS: The property is in the Penhook area of Franklin County on Sago Road (SR 620) between Walker Road (SR651) & Circle Creek Road (SR652). Please refer to the maps of the auction site for more details.
For GPS guidance you can use (460 Sago road Penhook VA 24137 as a reference)
PREVIEW DATES: Sunday 3/1 (10:00 - 11:00AM), Wednesday 3/4 (10:00 - 11:00AM), and Saturday 3/7 (10:00 - 11:00AM). Self guided tours are welcome anytime.
SALE MANAGERS: Pete Ramsey (434) 258-6611 and George McDaniel (434) 546-9235
Terms and Conditions
Terms: $10,000.00 deposit on sale day in certified funds with a wire transfer to the Trustee in an amount necessary to bring the deposit to a total of 10% of the contract price. Such additional money must be received by the Trustee no later than 5:00 pm EDT on Wednesday March 18, 2020. The balance of the purchased price is due within 30 days of the sale date. Real estate taxes will be prorated as of the sale date.
Disclaimer: For the purposes of ensuring compliance with applicable federal regulations restricting “related party” transactions by Seller, Purchaser represents and warrants to Seller that as of the date of this Contract, Purchaser is not an employee, director, or officer of Seller or an immediate family member (meaning spouse, parent, sibling, child, step child, parent-in-law, sibling-in-law, son-in-law, or daughter-in-law) of any employee, director, or officer of Seller. If Purchaser is a corporation, partnership, limited liability company, or other entity, Purchaser represents and warrants that none of its manager(s) or owner(s) are related parties of Seller as described above, unless Purchaser is a public company whose entity is traded on a national recognized exchange, in which case, only a controlling interest shall be considered for purposes of this representation. If Purchaser is a trust, Purchaser represents and warrants that neither its trustee(s) nor its beneficiaries are related parties of Seller as described above.