Special Commissioners Sale

 

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GENERAL TERMS OF SALE: All sales are subject to confirmation by the City of Danville Circuit Court. 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 auction date, 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.

Persons are encouraged to make a visual inspection of the property within the limits of the law and to obtain an independent title search, at their own costs, prior to bidding on any of the properties to determine the suitableness of the properties for their purposes. It is not guaranteed that the property has a right-of-way or that it is not landlocked. 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.

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, along with a 10% buyer’s premium, subject to a minimum buyer’s premium of $100.00, added to the final bid on the day of the auction (the “Auction Funds”). All payments must be made in the form of personal check, cashier’s check or money order. No cash will be accepted. Deposits shall not exceed Twenty Thousand Dollars ($20,000) per parcel. Bids which are less than One Thousand Dollars ($1,000.00) shall be paid in full at the time of the auction. The Auction Funds will be held by the Special Commissioner and credited towards the purchase price following confirmation of the sale.

The balance of the purchase price must be deposited by the highest bidder within fifteen (15) days of confirmation of the sale by the Court. Recording costs for deed recordation must be paid by the highest bidder and are due with the balance of the purchase price.

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.

To qualify as a purchaser at this auction you may not owe delinquent taxes to the City of Danville. Questions concerning the bidding process should be directed to the Auctioneer by email to williamsauctionco@gmail.com or by phone to Charles Williams, at (276) 340-6441. Questions concerning the property subject to sale should be directed to TACS online at www.taxva.com, by email to taxsales@taxva.com, by phone to (804) 612-9041