Terms and Conditions of the Auction
The terms of the sale shall be cash, or in the alternative, a down payment of not less than 20% of the successful bid price at the time of sale, by cash or certified check, at the time of sale for bids over $3000.00, to be deposited by the Special Commissioner with the balance due in ten (10) days, also by cash or certified check to the Special Commissioner at the office of David, Kamp & Frank, LLC, 739 Thimble Shoals Blvd., Ste. 105, Newport News, VA 23606. High Bids of $3000.00 or less, will require full payment at the Auction. All real estate shall be sold, “As Is,” in gross and not by the acre, and subject to, without limitations, restrictions, conditions, easements, liens or encumbrances of record, possible rights of parties in possession, encroachments, overlaps, gaps and gores, deficiencies in quantity, all question of boundaries, location and acreage which a current and accurate survey would disclose, roadways, environmental and wetland matters, unrecorded easements, matters which would be disclosed by an inspection of the premises, or any other matter of record or not of record. Real estate sold through the judicial sale process will be sold free of all claims of any creditor, person or entity pursuant to Virginia Code §58.1-3967. et seg. Before the Special Commissioner delivers a special warranty deed to the successful bidder, they shall report the result of the sale to the Court for Confirmation. The sale shall be subject to confirmation by the Court.