Stately Historic Home
"Redlands" on 9+ ac - c. 1910 - Orange, VA
Linda Terry, Tranzon Fox
121 Pennsylvania Ave
Virginia Beach, VA 23462
Stately Historic Home
"Redlands" on 9+ ac - c. 1910 - Orange, VA
Auction Date and Time:
Thursday, August 22, 6:00pm
Property Preview Date and Time:
One Hour Prior to Auction
Property and Auction Location:
15340 Berry Hill Rd
Orange, VA 22960
This classic, 103- year old country estate home sits proudly atop a
grassy knoll and overlooks acres of thriving vineyards. Sturdy brick with impressive columns and
grand entrance facing the Blue Ridge Mountains, Redlands is just a stone’s throw outside the
charming town of Orange. The home was built in 1910 by Bank President Halsey, whose
second wife wanted to be closer to her husband as he worked in town during the week.
Since that time, other families have raised children here in this peaceful setting central to
Charlottesville, Richmond and DC. Vintage in appearance and appeal, it’s also a very livable
house, boasting a first floor bedroom in addition to formal rooms, den, mud room, large country
kitchen and two working fireplaces. English basement offers separate living quarters with private
entrance, which has in the past produced rental income-- and there is also an office with direct
entrance for home business. Horses, vineyards, bed & breakfast—there are many possibilities
here at Redlands.
The grounds have fenced fields, carriage house and smoke house as well as a stone patio.
Zoning permits both horses and B & B, but prospective buyers need to do their own due
A front lot at the bottom of the hill by driveway, consisting of +/- 7.14 acres zoned Town
Activity Center (formerly General Commercial), is also being auctioned and will be
offered separately and in combination with the house.
The back view is protected by a long term lease to Horton Vineyards, part of a land grant being
preserved by the original family, affording rolling hills and Tuscan views from the Manor House.
NOTE: There is currently a leasehold interest for production, cutting and removal of hay from
the approximately 14 acres of fields (outside the yard fence) on the property. The lease may be
terminated upon sixty (60) days written notice. There is no cost to the land owner to terminate
the lease and no cash payment is due from tenant under said lease.
SQ Footage: 4,207+/- per tax record
Parcel ID#: 44-101
2013 Tax Assessment: $650,000
2013 Property Taxes: $4439.52/yr, one half paid every six months
Approx Year Built: 1910
Approx Lot Size: 8.926 ac
Heat/Air: Oil radiator, & elec heat pump 2 zone AC
Water/Sewer: Public water, septic
Homeowners Assoc Fee: None
Schools: Orange Elementary, Prospect Heights Middle, Orange High School
From town of Orange, go South on Madison Road to immediate left on Rt. 20 Berry
Hill Rd. Property on the right.
Cooperating Broker’s Fee:
Up to 3% of the high bid will be paid to a properly registered
broker at settlement.
Summary of Terms of Sale:
All property sold in “as is” condition. A 10% buyer’s premium will
be added to the high bid to determine the contract price. High bidder will execute a Contract for
Sale and Purchase of Real Estate and provide 10% deposit with a minimum auction day deposit
of $20,000 in guaranteed funds. A cashier’s check, certified check, cash or money order made
payable to yourself in the amount of $20,000 must be shown at registration. Balance of contract
price is due at closing within 30 days. Seller will provide general warranty deed at closing.
Please see the Contract for Sale of Real Estate and Terms & Conditions in this info package for
all of the sale terms.
ATTENTION PROSPECTIVE BIDDERS:
ALL INFORMATION CONTAINED IN THIS AND OTHER ADVERTISEMENTS WAS OBTAINED FROM SOURCES BELIEVED TO BE ACCURATE. HOWEVER, NO WARRANTY OR GUARANTEE, EITHER EXPRESSED OR IMPLIED, IS INTENDED OR MADE. ALL PURCHASERS MUST INDEPENDENTLY INVESTIGATE AND CONFIRM ANY INFORMATION OR ASSUMPTIONS ON WHICH ANY BID IS BASED. NEITHER AUCTION COMPANY NOR TRUSTEE SHALL BE LIABLE FOR ANY ERRORS OR THE CORRECTNESS OF INFORMATION.
ALL ANNOUNCEMENTS MADE AT THE AUCTION TAKE PRECEDENCE OVER ANY OTHER PROPERTY INFORMATION OR PRINTED TERMS OF SALE. ITEMS MAY BE ADDED OR DELETED.
PROPERTY SOLD “AS IS, WHERE IS, WITH ALL FAULTS.” PROSPECTIVE BIDDERS SHOULD VERIFY ALL INFORMATION. THE PROPERTY IS OFFERED FOR SALE TO QUALIFIED PURCHASERS WITHOUT REGARD TO PROSPECTIVE PURCHASER'S RACE, COLOR, RELIGION, SEX, MARITAL STATUS OR NATIONAL ORIGIN. THE PROPERTY AND IMPROVEMENTS WILL BE SOLD "AS IS" WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND, INCLUDING ANY REPRESENTATIONS REGARDING ENVIRONMENTAL CONDITIONS AFFECTING THE PROPERTY. THE REAL PROPERTY SHALL BE SOLD FREE AND CLEAR OF LIENS, BUT SUBJECT TO CONDITIONS, RESTRICTIONS, RIGHTS-OF-WAY, EASEMENTS, AND RESERVATIONS, IF ANY, OF RECORD; SUBJECT TO THE RIGHTS, IF ANY OF TENANTS-IN-POSSESSION, UNDER LAW. NEITHER THE AUCTION COMPANY NOR THE TRUSTEE MAKE OR HAS MADE ANY REPRESENTATION OR WARRANTY WITH RESPECT TO THE ACCURACY, CORRECTNESS, COMPLETENESS, CONTENT OR MEANING OF THE INFORMATION CONTAINED HEREIN. ALL PROSPECTIVE PURCHASERS RECOGNIZE AND AGREE THAT ANY INVESTIGATION, EXAMINATION, OR INSPECTION OF THE PROPERTY IS WITHIN THE CONTROL OF THE OWNER OR OTHER PARTIES IN POSSESSION AND THEIR AGENTS. ANY DECISION TO PURCHASE OR NOT TO PURCHASE IS THE SOLE AND INDEPENDENT BUSINESS DECISION OF THE POTENTIAL PURCHASER. NO RECOURSE OR CAUSE OF ACTION WILL LIE AGAINST ANY OF THE ABOVE-MENTIONED PARTIES SHOULD PURCHASER BECOME DISSATISFIED WITH ITS DECISION, WHATEVER IT MAY BE, AT A LATER DATE.
26’5” x 10’
Gracious large foyer with solid wood door with
side lights. Crown mouldings. Custom paneled
Hardwood flooring. Crown mouldings. Corner
fireplace with milled mantle.
Hardwood flooring. Chandelier. Crown
mould-ings. Corner fireplace with milled mantle. Glass
French doors to living room.
16’9” x 14’3”
Hardwood flooring. Crown mouldings. Chair
rail. Fireplace with milled mantel. Built-in
Eat-in. Hardwood flooring. JennAir downdraft
range. Side-by-side refrigerator/freezer.
Dish-washer. Trash compactor. Kitchen area has
Laundry closet, Half Bath, Mud Room, storage
and back staircase.
16’9” x 13’11”
Fireplace, closet, separate office overlooking
vineyards and full bath.
Power Room is off kitchen.
15340 Berry Hill Rd.
Gracious Foyer with milled staircase opening to Living
Room and Library Formal Living Room with lovely corner fireplace.
15340 Berry Hill Rd.
Solid wood door with glass lights gives natural light to Foyer.
Large Eat-in kitchen Library with large fireplace, Built-in shelves
First Floor Bedroom has lovely fireplace, closet, full
bath with shower and tub, and separate office. One of 5 fireplaces in the house. Each one has a hand-carved mantle with incredible detailing.
Large Eat-in kitchen Dining Room
25’2” x 14’6”
Carpeting over partial hardwood. Crown
mould-ings. Three closets. Huge Room with sitting area.
16’5” x 11’8”
Crown mouldings. Built-in cabinets with desk.
Wet bar.. Carpeting. Three closets. Ceiling fan.
Ceramic flooring. Double vanities. Shower.
Hardwood flooring. Crown mouldings. Closet.
Two large linen closets. Tub and separate shower.
16’8” x 14’3”
Hardwood flooring. Crown mouldings. Ceiling
Hardwood flooring, Crown moldings.
18’5” x 16’ Carpeting. Huge storage room. New windows.
Huge Master Suite with 3 closets, master bath, sitting Room with built-in bookshelves and wet bar.
Full kitchen with refrigerator, cabinets
16’6” x 13’7”
Gas fireplace. Could be a Living
Room for an apartment.
15’6” x 12’9”
Could be bedroom
13’11” x 12’5”
Separate entrance/ Built-in cabinets.
Storage Room. Perfect for Home
Third Floor has huge room and storage room Original Smoke House
Office with separate entrance. Perfect for Home Business
15340 Berry Hill Rd.
Side view of the house with lovely landscaping
There are several fenced areas that are perfect for horses.
Original Carriage House could be converted to a Guest House
The back of the house overlooks the Horton Vineyards on the Taylor estate.
Front porch with stunning stone columns.
Select Another Parcel
Monday July 29, 2013
HONENBERGER, SARAH C
300 N RIDGE RD #6
Zip + 4
Owners Name 2
Select Another ParcelCopyright 2013 © MSAG LLC
REDLANDS history and background info
Built 1910 by Mr. Halsey, President of National Bank and Trust in Orange, as in town house for his second wife who didn’t like being out in the country at Eastern View in Rapidan, VA when he was working in town during the week. Every one of the spacious rooms enjoys views of the Blue Ridge Mountains or the neighboring vineyard.
Prior owners rented upstairs apartment in 40’s and 50’s, moved downstairs when they bought the house in 1956, raised four boys and a girl here. The Honenbergers bought it in 1985, raised three children here while they were lawyers in town. Mrs. H wrote her first two novels here. Mr. H left law practice to become CEO and President of Second Bank and Trust, community bank.
Front hallway door to back exterior porch was closed in as closet when kitchen was renovated in the forties, and wood cooking stove was eliminated then. The old flu exists behind spice cupboard in kitchen.
Storm windows and new oil furnace were added in 1985. New water heater approximately 15 years ago. Oil furnace was upgraded in 2004 for a more efficient model. In 1013 a state-of-the-art regulator was installed to minimize oil needed to maintain 120 degrees for radiator water. Interior temperature of 60 degrees was maintained with only 100 gallons of oil during the 2012-2013 season. Second floor and attic are zoned with heat pump/A/C, used as the sole heat during October and March/April. First floor guest bedroom and kitchen were cooled by window units. English basement remains cool in summer, with dehumidifier stand-alone unit, and window A/C in farm office. Gas fireplace in basement, with storage tank behind boxwoods.
14 vinyl windows with screens on 2nd floor sunporch, attic, and basement apartment. 6 new
screen/storms on driveway side and front of house were added in 2013. Balance of windows are original wood and glass-paned, with similar model sliding storms and screens, except for canning room and furnace room (no storms/screens). All exterior wood painted in 2012 and hidden gutters repaired. Outside entries powerwashed and back porch railing and steps replaced in 2012. Roof on Carriage house
repaired and painted 2012. Three bedrooms and hallway on 2nd floor painted in 2012.
Extra features: Farm office with bookcases and storage cupboards has separate entrance and separate tool room. Carriage house (for lawn equipment, fencing supplies, storage) with vinyl windows,
smokehouse with replacement roof and new wood siding. Canning room and furnace room are in original condition. Stone patio at rear of house.
Paved driveway, historic brick front walkway, mature plantings, flowering trees and bushes, fruit trees and grapevines with arbor, expanded septic field in 1992. 2013 oil tank and DEQ certification of non-contamination. Closed 1960’s gas tank with 2013 ‘no contamination’ certification. Under termite warranty for entire ownership by Honenbergers.
Appliances convey: Kitchen side by side Kenmore refrig, Jenn Air grill and oven, Kenmore upright freezer, Kenmore washer/dryer, Basement refrig, and stove.
We divided attic into storage and playroom (carpeted) in 1988 approximately). Third attic space over master bedroom is accessible for heat pump ductwork, but not floored. We upgraded electricity to 240
amp service everywhere, separate box and meter for basement apartment. Four electrical boxes, one in
basement apartment, one in basement office, one in 1st floor front hallway by closet, and one in attic.
Electric bill for basement apartment when empty is $13/month, $45 with tenant (last rented 1995). House electric bill is $120 three seasons and $200 in summer with A/C. Town water bill is $10 minimum and $50 when house is occupied full-time. Town bill includes small sewer availability fee and small trash fee.
ORANGE is an unusually sophisticated rural community. A plethora of antique and thrift stores, several award-winning restaurants, informal and semi-formal, exist along with the usual local coffee shops, family-run restaurants, national chains, and pizza places. Orange public elementary schools are strong, and there is one K-8 private school Grymes Memorial with a 40-plus year reputation. Woodberry Forest Prep School is located 5 miles from the Town of Orange. Martha Jefferson Hospital and University of Virginia Hospital both maintain full-time medical offices in Orange. Other outstanding private high schools are available in Charlottesville. Orange offers a thriving selection of B & Bs , in part due to the growing number of visitors to its National Trust property Montpelier, President James Madison’s home. Historic events there include James Madison’s birthday, the Montpelier Steeplechase Races, and
numerous interpretative activities, archeological workshops, and camps. Culpeper, 18 miles north, has 2 five-star restaurants, two movie theaters, and the Library of Congress video repository and theater with free movies Thursday through Saturday. Charlottesville and the University of Virginia are 30 miles south. One of the longest running community theaters operates in the southwestern end of the county as The Four County Players.
By bidding at the Auction, you are agreeing to the following terms and conditions in respect to the real property that is the subject of the sale (the “Property”):
All buyers are required to have a Bidder’s Number to bid, giving full name, address, and phone number. Evidence of correct form of deposit must be made in order to register for the auction.
CONTRACTS AND DEPOSITS:
The successful bidder (the “Buyer”) must sign a sales contract and all other documents specified by the auctioneer immediately upon conclusion of the auction. In order to bid, a minimum nonrefundable deposit of $20,000 shall be required to be presented to the auctioneer prior to the sale. The Buyer’s deposit will be retained by the auctioneer and applied against the 10% deposit specified below. All deposits must be in the form of a cashier’s or certified check. No third party checks will be accepted. Successful bidders will be required to place a deposit equal to 10% of the total purchase price of the Property ($20,000 minimum deposit in certified funds) at the time of signing the sales contract. Balance of the 10% deposit (over the $20,000) may be a personal or business check. The total deposit shall be applied to the Buyer’s credit at settlement. The auctioneer reserves the right to waive or modify the above deposit requirement at any time. Please note: All cashier’s or certified checks should be made payable to yourself. The successful bidder will be required to endorse the check over to Tranzon Fox. See specific Terms of the Sale for actual deposit requirements.
A buyer’s premium of ten percent (10%) shall be added to the successful bidder’s high bid and included in the total purchase price to be paid by the successful bidder.
PROPERTY SOLD “AS IS, WHERE IS, WITH ALL FAULTS” WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND:
The Property shall be sold subject to all conditions, restrictions, right-of-way easements, and reservations, if any, of record, filed and unfiled mechanics and materialmen’s liens, if any, and all other matters of record taking priority, subject to the rights, if any, of tenants-in-possession, and further subject to all conditions announced at sale; and confirmation of the sale by the seller. The property, and all the improvements to the property, if any, shall be conveyed in "as is" condition and without warranty of any kind, including any warranty as to the physical condition, extent of zoning, or environmental conditions (including, without limitation, the existence of radon gas, formaldehyde gas, airborne asbestos fibers, toxic chemicals, underground storage tanks, lead, mold or other pollutants in the soil, air or water).
REAL ESTATE CLOSING:
The Buyer must close the sale of the Property within 30 days (or sooner if noted in specific terms and conditions). Time is of the essence. The entire purchase price must be paid by cashier’s or certified check, attorney’s escrow check, or wired funds at closing. The Buyer’s purchase of the Property is not contingent on financing. The Property will be conveyed to the Buyer by deed upon full payment of all amounts due under this Agreement.
The Auctioneer is acting as agent on behalf of the seller(s) only, and reserves the right to protect the seller’s interest by bidding as agent, unless the Property is being sold absolute to the highest bidder. The Auctioneer is not responsible for the acts of his agents or principals. During bidding, the Auctioneer has the right to reject any bid that, in his opinion, is not commensurate with the Property value. In the event of any dispute after the sale, Tranzon Fox’s determination shall be conclusive.
MEGAN’S LAW DISCLOSURE
Purchaser(s) should exercise whatever due diligence they deem necessary with respect to information on any sexual offenders registered
under Chapter 23 (19.2 – 387 et. seq.) of Title 19.2. Such information
may be obtained by contacting your local police department or the Department of State Police, Central Criminal Records Exchange, at 804-674-2000 www.state.va.us/vsp/vsp.html.
Unless stated otherwise, only the Real Estate is being sold. Any personal property left in the property upon settlement conveys with the real estate. Seller is not obligated to leave property in “broom clean” condition.
LEAD BASED PAINT:
The ten (10) day inspection period for residential property is prior to the auction, and the opportunity is hereby waived from and after the date and time of auction.
REAL ESTATE BROKERS:
A commission (as stated in the Property Information Package) calculated on the successful buyer’s high bid shall be paid from the proceeds of sale to the licensed, qualified broker, whose properly registered buyer is the successful bidder at the auction, and whose buyer completes the purchase of the Property. Brokers must register their prospective buyer on the required form completely filled out and signed. In the event a commission reduction is required to consummate a sale, Fox reserves the right to proportionately reduce the commission herein. Broker must accompany their buyer to the Auction. The form is included in the Property Information Package or may be obtained by calling 757-473-3000 and must be submitted to Tranzon Fox no later than 4 pm on the last business day prior to the Auction. Fax the completed form to 757-473-9787.
ADDITION OR WITHDRAWAL FROM SALE; CONDITION OF SALE:
The sale of the real Property shall be contingent upon the seller and lender's confirmation, unless the sale is specified as absolute at the time of sale. The Auctioneer reserves the right to withdraw from sale the Property listed, and also reserves the right to group one or more properties into one or more selling lots or to subdivide into two or more selling lots. The Auctioneer reserves the right to cancel the auction sale up to the time prior to the commencement of bidding. All properties are sold in gross in all cases. If a subsequent survey by the Buyer shows a greater or lesser number of acres or square footage this will not affect the purchase or purchase price.
Seller and auctioneer reserve the right to announce additional terms and conditions at the time of the sale, which additional terms and conditions will be binding upon the Buyer and the seller(s). All announcements made the day of sale take precedence over any conflicting prior written or verbal terms of sale. The Buyer will acquire the Property(s) subject to the rights of all parties in possession. If any conditions contained herein are not complied with by the Buyer, Tranzon Fox may, in addition to asserting all remedies available by law, including the right to hold the Buyer liable for the purchase price, either (a) cancel the sale, retaining as liquidated damages any payment made by the Buyer; (b) resell the Property at public auction; or (c) take such other action as it deems necessary or appropriate. The retention of the bidder’s deposit shall not limit any rights or remedies of Tranzon Fox or the sellers with respect to the Buyer’s default. If the Property is resold, the Buyer shall be liable for payment of any deficiency in the purchase price and all costs and expenses of both sales, reasonable attorney’s fees, commissions, incidental damages and all other charges due hereunder.
The respective rights and obligations of the parties with respect to the Terms and Conditions of Sale and the conduct of the auction shall be governed and interpreted by the laws of the Commonwealth of Virginia. By bidding at any auction, whether present in person or by agent, by written bid, or other means, the Buyer shall be deemed to have consented to the jurisdiction of the state and federal courts sitting in the Commonwealth of Virginia. Any controversy or claim arising from or relating to the contract or any breach of such contract shall be settled by arbitration administered by the American Arbitration Association under its rules, and judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. This auction is conducted by Tranzon Fox acting as auctioneer/listing agent. Tranzon Fox is solely responsible for the terms and conditions of this auction and the manner in which it is conducted. Tranzon Fox is a member company of Tranzon, L.L.C., is independently owned and operated, and uses the Tranzon name by license from Tranzon, L.L.C., which is not conducting or otherwise involved in this auction.
TERMS AND CONDITIONS OF SALE
BROKER PARTICIPATION TERMS & ACKNOWLEDGEMENT
This form is void unless received via fax by Tranzon FOX at 757-473-9787 or emailed to email@example.com no later than 4 p.m. EST on the last business day prior to the auction date.
Auction Date: August 22, 2013, 6:00pm
Property Address: 15340 Berry Hill Rd, Orange, VA 22960
A commission will be paid based on the following schedule to any properly licensed real estate broker whose Buyer/Bidder is the successful purchaser for this property and who actually closes and pays the Total Contract Sale Price for this Property. Agents/Brokers acting as principals or employees, affiliates or immediate family members are not eligible for this commission. Payment made to Broker upon closing.
3% of the opening bid written below on this form prior to the opening of the auction. 1% of the balance between the submitted written opening bid and the actual high bid as per the contract (not including buyer’s premium)
In the absence of a written opening bid, 1% of the successful high bid will be paid
Broker agrees that if the commission pool is negotiated down in order to confirm the sale, they will accept a proportionate cut. Maximum broker participation shall not exceed 3% of the high bid. Oral registration will not qualify Broker for commission. Agent or Broker MUST attend the auction. Broker agrees that he/she shall hold harmless and indemnify Tranzon Fox, including its reasonable attorney’s fees, from any and all claims with regard to such commission. Such written offer does not constitute an auction bid unless/until the named buyer or their representative has complied with all auction terms including authorization of form of deposit, attends and registers to participate in the above referenced auction AND the Auctioneer opens the auction for bids. No exceptions will be made to the terms on this form.
Name of Broker: _____________________________
Name of Company: ___________________________ Bidder/Buyer Name: ______________________
Name of Sales Assoc.: ________________________ Address: _______________________________
Broker License Number: _______________________ City, State, Zip: __________________________
Address: ___________________________________ Phone Number: _________________________
City, State, Zip: ______________________________ Bidder/Buyer email:_______________________
Phone Number: ______________________________
Fax Number: ________________________________ Agent email:____________________________
The undersigned buyer/bidder makes the opening bid of $____________________________ for property located at the above address.
I agree to the terms set forth herein and the published terms of sale.
________________________ ______________________________ Date: _____________________
Broker Signature Bidder/Buyer Signature
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> RECEIVED BY TRANZON FOX: ______________________________ DATE ____________________
CONTRACT FOR SALE OF REAL ESTATE
This Contract for Sale of Real Estate is made as of August 22, 2013, between Sarah C. Honenberger (“Seller”)and ____________________________________________________________________(“Purchaser”)
Note: Seller reserves the right to transfer the property to a land trust or limited liability company prior to the date
of real estate closing and if such a transfer takes place, the Seller will be permitted to transfer the property at the real estate closing by Special Warranty Deed.
W I T N E S S E T H:
In consideration of the deposit of $_________ (the “Deposit”) delivered by Purchaser to Tranzon Fox (the “Auction Firm”) and the mutual covenants hereinafter provided, Seller agrees to sell, and Purchaser agrees to buy, the following parcel of real estate together with any improvements-thereon 15340 Berry Hill Rd., Orange VA 22960 Tax ID#000010456 Map #04400000001010 44-101 WILLIAMS PC C-17 DB667/425 +/- 8.926 ac
w/improvements – house known as “Redlands” (The “Property”) . The purchase and sale of the Property
shall be on the following terms and conditions:
1. Auction Terms and Conditions. The Auction Terms and Conditions (the “Auction Terms”) and
announcements made prior to auction shall be deemed part of this Contract as if set forth in this Contract in their entirety. In the event of a conflict between the terms and conditions of this Contract and those of the Auction Terms, the terms and conditions of the Auction Terms shall govern.
2. Purchase Price. Purchaser agrees to pay as the full purchase price for the Property the sum of
$___________________ (the “Purchase Price”) in gross, as follows:
(a) Purchaser shall pay the Deposit to the Auction Firm upon the execution of this Agreement. Auction Firm shall hold the Deposit and shall (i) pay it over to Seller at settlement for application to the payment of the Purchase Price, (ii) return it to Purchaser when instructed to do so by Seller upon the conditions set forth herein, or (iii) in the event of Purchaser’s default and at Seller’s option, pay it over to Seller for application as set forth in Paragraph 9 below. The Auction Firm shall retain any interest accruing on the Deposit while held by the Auction Firm. Demand Note: If any portion of the down payment is made with a personal check, this contract will
constitute Buyer's personal demand note guaranteeing the check. Should Seller or Auctioneer/Broker be required to pursue collection on this check or enforcement of this contract, the cost of such collection and
Sellers'/auctioneer's reasonable attorney fees will be Buyer's expense, all unpaid amounts shall accrue interest at a rate of 1.5% per month (18% per year) until said amount is fully collected.
(b) Purchaser shall pay the remainder of the Purchase Price to Seller at settlement in cash, by wire transfer or by certified or cashier’s check.
(c) Purchaser acknowledges that the Purchase Price includes a buyer’s premium of ten percent (10%). A summary of the terms of the sale is as follows:
High Bid $_____________ Buyer’s Premium Plus $ ____________ Purchase Price Equals $_____________ Deposit $_____________ Balance of Purchase Price
Due at Settlement Equals $ ______________
3. Settlement and Possession. Settlement will take place no later than 30 days of confirmation of the bids
at the offices of Purchaser’s Attorney who shall be the settlement agent in connection with this transaction for tax reporting purposes. Possession of the Property will be delivered to Purchaser at settlement, subject to the rights of tenants, if any. There is currently a leasehold interest for production, cutting and removal of hay from the approximately 14 acres of fields (outside the yard fence) on the property. The lease may be terminated upon sixty (60) days written notice. There is no cost to the land owner to terminate the lease and no cash payment is due from tenant under said lease.
4. Title. Seller will convey the Property to Purchaser by General OR Special Warranty Deed (see note at top of document). Purchaser’s and Seller’s obligations hereunder are contingent upon Seller being able to convey good and marketable title to the Property subject, however, to the following (the “Permitted Encumbrances”): (i) matters that do not render title to the Property unmarketable; (ii) the rights of tenants, if any; (iii) the lien of ad valorem real estate taxes not yet due and payable; (iv) such state of facts as an accurate survey and inspection of the Property would reveal; and (v) easements of record granted to providers of utility services. If, prior to settlement hereunder, Purchaser identifies a title defect other than the Permitted Encumbrances, Seller shall have the opportunity, but not the obligation, to attempt to cure the title defect, and Seller shall be able to extend the settlement date accordingly. If Seller does not elect to attempt to cure the title defect, or if Seller attempts but is not successful in curing the title defect, Purchaser shall have the option to terminate this Agreement, in which case Seller shall instruct the Auction Firm to return the Deposit to Purchaser and neither party will have any further obligation or liability to the other, or to waive the title defect and proceed to settlement hereunder. If an owner’s title insurance policy can be obtained without exception to the title defect or with affirmative protection over the title defect, Purchaser agrees to waive its objection to the title defect. This property is subject to an easement across the +/- 50 ft wide pipe stem portion of the parcel for the purposes of ingress and egress and for the installation and maintenance of utilities for commercial development of the front parcel. This easement will allow for the expansion and improvement of the access across the pipe stem and onto US Rt. 20, all at the expense of the owner of the benefitted parcel.
5. Proration at Settlement and Settlement Costs. Ad valorem real estate taxes and rent will be
prorated at settlement. Heating/cooking fuel present at closing conveys to buyer. Seller will pay the grantor’s tax/land transfer tax (or however named) imposed by the local, county or State governments, where the property being sold resides, revenue stamps (statutory recording fees) and the cost of preparing the deed; all other recording costs, fees, and closing expenses will be borne by Purchaser. Each party hereto shall be responsible for paying its own legal fees incurred under this Contract, whether or not closing occurs. Purchaser to pay for any survey required for recordation purposes.
6. Eminent Domain. In the event of a taking of the Property or any portion thereof by eminent
domain after the date hereof but before settlement, Purchaser will, within ten (10) days of the taking, either (i) terminate this Contract by written notice to Seller, in which event Purchaser will be entitled to the return of the Deposit and neither party will have any further liability to the other, or (ii) elect to proceed to settlement without a reduction in the Purchase Price, in which event Seller will convey to Purchaser the portion of the Property not taken and will assign to Purchaser all of Seller’s right, title, and interest in any condemnation award arising from and pertaining to the taking of the Property.
7. Condition of Sale. Properties are sold in gross in all cases. If a subsequent survey by
Purchaser shows a greater or lesser number of acres, this will not affect the purchase or purchase price. Buyer acknowledges receipt of Association Documents, if applicable, and agrees to abide by terms set therein.
8. Physical Condition of the Property.
(a) Purchaser acknowledges that it has examined and inspected, and is satisfied with, the physica l condition of the Property and the improvements thereon. PURCHASER EXPRESSLY AGREES THAT THE PROPERTY IS OR WILL BE SOLD “AS IS, WHERE IS, WITH ALL FAULTS”, WITHOUT ANY WARRANTY OR REPRESENTATION, EXPRESS, IMPLIED, OR ARISING BY OPERATION OF LAW, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTY OF CONDITION, HABITABILITY, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, AND SUBJECT TO ORDINARY WEAR AND TEAR OCCURRING AFTER THE
DATE HEREOF. Purchaser further acknowledges that Seller has neither made nor extended to Purchaser any
representation, warranty or indemnity with regard to the environmental condition of the Property or with regard to its compliance with the Americans with Disabilities Act of 1990, if applicable, and Purchaser hereby assumes sole responsibility therefor, indemnifies and agrees to hold Seller, its affiliates, agents, directors, employees and attorneys harmless from and waives any right, action, claim or cause of action it or its successors or assigns may have now or in the future against Seller, its affiliates, agents, directors, employees or attorneys with regard thereto.
(b) If the improvements on the Property are damaged after the date hereof but before settlement, Seller may (but will not be obligated to) attempt to repair the improvements and, at Seller’s option, there will be a reasonable extension of the settlement date in which Seller may attempt to complete the repair. If Seller notifies Purchaser that Seller does not intend to attempt repair, or if Seller attempts but is not successful in effecting repair and so notifies Purchaser, within ten (10) days of either such notification Purchaser either (i) will terminate this Agreement, in which case Purchaser will be entitled to the return of the Deposit and neither party will have any further liability to the other, or (ii) will waive any objection to the damage and any right to reduce the Purchase Price, in which case Seller will convey to Purchaser the Property with such damaged improvements as are then
thereon and will assign to Purchaser all of Seller’s right, title and interest to any insurance proceeds, if any, received or to be received in payment of damage to the improvements (but no other insurance proceeds, such as proceeds from damage to personal property).
9. Default. If Purchaser defaults hereunder, Seller will retain the Deposit and pursue such remedies
as are available to Seller at law or in equity, including, without limitation, an action for specific performance. If Seller defaults hereunder, Purchaser may pursue such remedies as are available to Purchaser at law or in equity, including, without limitation, an action for specific performance. Notwithstanding the foregoing, however, in either case, the defaulting party hereunder shall not be liable in any action at law or in equity, whether based on contract, tort, strict liability or otherwise, to the non-defaulting party or to any other person, including affiliates, subsidiaries, partners, shareholders, directors, officers, agents, employees or representatives of the non-defaulting party, for any punitive, exemplary, special, consequential, indirect or incidental damages or for loss of operating profits, loss of use or loss of business opportunity. A termination of this Contract pursuant to the termination provisions set forth in paragraph 4, 6, and 8, shall not be deemed to be a default of either party hereunder.
10. Notice. Any notice, request, or demand required or permitted hereunder will be in writing and will
be delivered by hand, sent by express courier service, or sent by U. S. certified mail, return receipt requested, postage prepaid, if to Seller with a copy to Tranzon Fox , 121 Pennsylvania Avenue, Virginia Beach, Virginia 23462, and if to Purchaser, to the address set forth below under the Purchaser’s signature, or to such other address as the party to receive such notice may hereafter specify by written notice to the other. Any such notice will be deemed given on the date of actual hand delivery, one (1) day after being sent by express courier service or two (2) days after deposit in the U. S. mail, certified.
11. Relationship Disclosure. Seller and Purchaser acknowledge and agree that the Auction Firm
and the selling broker(s) have acted on Seller’s behalf as independent contractors in connection with this transaction. Seller and Purchaser also confirm that this disclosure of relationship has been made in writing. 12. Miscellaneous. Each party hereto represents that it has not involved any agent, broker, or finder in this transaction (other than the Auction Firm whose compensation is being paid by Seller, and the cooperating broker, if any,___________________________,) and agrees to indemnify, defend, and hold the other party harmless from any claim in connection therewith. The provisions of this Contract will survive settlement hereunder. The parties hereto acknowledge that neither has relied upon any oral representation of the other, that no such oral representation will affect in any way the terms of this Contract and that this Contract represents the final and complete understanding between the parties. This Contract cannot be modified or amended, and no waiver or any provision hereof will be effective, unless in writing executed by the parties hereto. This Contract will be construed, performed and enforced in accordance with the laws of the Commonwealth of Virginia without regard to the conflicts of laws provisions of Virginia law. Except as provided in Paragraphs 6 and 8, the risk of loss or taking will remain with Seller until settlement. This Contract will inure to the benefit of and will bind the parties hereto and their respective heirs, personal representatives, successors and assigns. Purchaser may not assign its rights under this Contract without the prior written consent of Seller, which consent Seller may withhold in its sole and absolute discretion. Any such assignment to which Seller consents shall not release Purchaser from any liability hereunder. This Contract may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same Contract. Notwithstanding any other provision of this Agreement, or any agreements, contracts or obligations that may derive herefrom, nothing herein shall be construed to make the parties hereto partners or joint ventures or to render either party liable for any of the debts or obligations of the other party, it being the intention of this Contract merely to create the relationship of seller and purchaser with regard to the Property. All parties to this Contract have been represented by counsel or have had the opportunity to be so represented. Accordingly, both parties hereby waive the rule of construction of contract language against the drafting party. If any provision of this Contract or the application thereof is deemed unenforceable for any reason, the remainder of this Contract shall not be affected thereby and shall remain in full force and effect. Notwithstanding any mention of specific acreage in any description of the Property, the parties shall agree that the Property is being sold in gross and not by the acre. The parties’ rights and obligations hereunder will not be affected if a subsequent survey of the Property reveals a different acreage.
Personal property remaining at closing conveys with the real estate. Seller is not obligated to leave the property “broom clean”.
TIME IS OF THE ESSENCE IN CONNECTION WITH THIS CONTRACT and this is an irrevocable offer to
purchase without contingencies. In the event the Buyer fails to perform according to the terms of this contract, the deposit shall be forfeited and applied against Seller’s damages without affecting any of the Seller’s further
remedies it may have at law or in equity. All forfeited deposits shall be equally divided between the Seller and Auction Firm.
WITNESS the following signatures and seals:
SELLER: PURCHASERS: ________________________________(SEAL) ______________________________(SEAL) ________________________________(SEAL) ______________________________(SEAL) Attorney: ________________________________ Attorney: _______________________________ Address/phone/email: _____________________________________ _____________________________________ _____________________________________