A NOTICE OF PUBLIC AUCTION
SPECIAL COMMISSIONER’S SALE OF REAL ESTATE
TOWN AND COUNTY OF BEDFORD, VIRGINIA
Pursuant to the terms of those certain Decrees of Sale entered in the Circuit Court of Bedford County, the undersigned Special Commissioner will offer for sale at public auction (with online simulcast) the following described real estate at The Board Room in the County Administration Building located at 122 East Main Street, Bedford, Virginia 24523, on Thursday, November 5, 2020, at 10:00am or as soon thereafter as may be affected. The sale of such property is subject to the terms and conditions below, any conditions which may be subsequently posted by Counts Realty & Auction Group (“Auctioneer”) and Taxing Authority Consulting Services, PC (“TACS”), and any such terms and conditions which may be announced on the day of the auction. Announcements made on the day of the auction take precedence over any prior written or verbal terms of sale.
Terms and Conditions
GENERAL TERMS OF SALE: All sales are subject to confirmation by the Circuit Court of the County of Bedford. The Special Commissioner of Sale has the right to reject any bids determined to be unreasonable in relation to the estimated value of the Property. All properties are sold in gross and not by the acre. Properties are offered for sale as-is, with all faults and without any warranty, either expressed or implied. Properties are conveyed by Special Warranty Deed, subject to any easements, covenants, agreements, restrictions, reservations, and any and all rights of record which may affect the property. Subsequent taxes will be prorated from the time of contract (the auction date of November 5, 2020) and the highest bidder will be responsible for taxes from that date forward. Any unsold property will be offered for sale again at the next auction, whenever that may be. Bid increments will be in the amount of $500.
Persons are encouraged to make a visual inspection of the property within the limits of the law and to obtain an independent title search prior to bidding on any of the properties. Bidders are strongly encouraged to make their own inspection to determine the suitableness of the property and it is assumed that all bidders will perform due diligence prior to the day of the auction. Any costs incurred by the bidder to inspect the property are at the expense of the bidder and are non-refundable. It is not guaranteed that the property has a right-of-way or that it is not landlocked. The information shown, including maps, is derived from public records that are constantly undergoing change and do not replace a site survey or inspection. There is no warranty as to the accuracy of the visual maps, nor is the information contained therein a legal representation of any of the features of the property which it depicts.
There will be a 10% buyer’s premium added to the final bid to determine the “final contract price”. The buyer’s premium is due upon the close of the auction and will be in addition to the required deposit amount. Please consider the buyer’s premium when placing bids.
Terms applicable to In-Person Bidders ONLY: The highest bidder shall make a deposit in the amount of twenty-five percent (25%) or One Thousand Dollars ($1,000.00), whichever is higher on the day of the auction, along with their buyer’s premium payment. All payments must be made in the form of personal check, traveler’s check, cashier’s check or money order. No cash will be accepted.
Terms applicable to Online Bidders ONLY: All interested parties must register and be approved by the Auctioneer. Registration and bidding are free of charge and are done through the Auctioneer’s website www.countsauction.com. If any interested bidders are unable to attend for in-person bidding and wish to bid on property, but do not have access to the internet, please contact George McDaniel, at (434) 525-2991 for assistance. The highest bidder will receive their purchase contract and balance due via email following the close of the auction. The contract shall immediately be executed and returned to TACS. The bid deposit and buyer’s premium must be received in full within five (5) business days following the auction closing (no later than November 12, 2020, at 11:00am EST). Time is of the essence. All payments must be made in the form of certified funds, cashier’s check, money order or wire transfer. Cash and personal checks will not be accepted. Checks and money orders shall be made payable to Bedford County and forwarded to TACS, at the address shown below. Wire transfer instructions will be provided to the highest bidder upon request.
GENERAL TERMS OF SALE: Deposits shall not exceed Twenty Thousand Dollars ($20,000.00). Bids which are less than One Thousand Dollars ($1,000.00) shall be paid in full at the time of the auction. Such sum shall be held by the Special Commissioner and credited towards the purchase price following confirmation of the sale.
The balance of the purchase price shall be deposited by the highest bidder with the Special Commissioner within fifteen (15) days of confirmation of the sale by the Court. Recording costs for deed recordation will be the responsibility of the successful bidder and will be due with the balance of the purchase price within fifteen (15) days of confirmation of sale by the Court.
The sale of property to the highest bidder is not contingent upon obtaining financing. Financing, if needed, is the sole responsibility of the high bidder. By bidding, parties are entering into a legally binding contract, waive all rescission rights, and understand that their bid is immediately binding, irrevocable, and enforceable. Additionally, by bidding, parties are representing that they have read, and agree to be bound by, all terms and conditions for this sale. Failure to complete the property purchase will result in forfeiture of any funds paid and may subject the highest bidder to additional damages, which may include expenses and any deficit upon resale.
Please be advised that in order to qualify as a bidder at this auction, you may not owe delinquent taxes to the County of Bedford and you may not be a Defendant in any pending delinquent tax matter. Questions concerning the registration and bidding process should be directed to the Auctioneer online at www.countsauction.com, by email to GMcDaniel@countsauction.com or by phone to George McDaniel, at (434) 525-2991. Questions concerning the property subject to sale should be directed to TACS online at www.taxva.com, by email to firstname.lastname@example.org, by phone to (804) 545-2500 or (804) 612-9041, or by writing to the address below.
Jeffrey A. Scharf, Esq.
Re: Bedford County Auction
Taxing Authority Consulting Services, PC
P.O. Box 31800
Henrico, Virginia 23294-1800