This is a 12 parcel auction ONLINE only for the City of Suffolk
Terms and Conditions
TERMS AND CONDITIONS OF TAX SALE FOR REAL ESTATE BY
Ronald H. Williams, Treasurer for The City of Suffolk
You must register to Bid at the Auction. To receive the Bidder’s Authorization, which includes a Bidder’s Number enabling you to bid, you must show proper identification when you register. You also may be asked, at registration or at any time during the Auction, to demonstrate that you have the necessary funds available to comply with the terms below regarding the required down payment. By registering to Bid at the Auction, you are affirming: 1) That you are not an elected official for the City of Suffolk, Virginia; 2) That you are not registering to Bid on behalf of a corporation or other business entity in which an elected official for the City of Suffolk, Virginia owns a controlling interest; 3) That you are not registering to Bid in order to purchase property on behalf of an elected official for the City of Suffolk, Virginia; 4) That you are not an immediate Family Member or Employee for The Law Office of Clarence H. Brooks and 5) That you are not registering to Bid on behalf of a corporation or other business entity in which a member or Employee for The Law Office of Clarence H. Brooks has a Financial Interest. Each Property will be Sold to the Highest Bidder, who will Sign a Bid Receipt that constitutes a Promise to Buy the Property in accordance with these Terms and Conditions. If a dispute arises after the Auction, the Auctioneer’s Records will be determinative in all respects. The Special Commissioner has the right to postpone or cancel the Auction in whole or in part, at his discretion and without notice, and to modify or add terms and conditions prior to or during the Auction. The properties are offered for sale to Qualified Purchasers without regard to the Prospective Purchasers’ race, color, religion, sex, marital status or national origin. The Special Commissioner and the Auctioneer reserve the right to refuse admittance to or to remove anyone from the bidding process for interfering with the Auction.
DOWN PAYMENT The successful High Bidder on each Property must sign the approved Memorandum of Sale immediately after the Auction (as further defined by the Auctioneer’s Terms & Conditions) and Pay a Bidder’s Deposit, in Cash, Certified Check, Cashier’s Check or Money Order, of at least 20% of the Bid Amount as a Down Payment for All Properties Sold for more than $3,000.00. Payment In Full of the Balance, by Cash, Certified Check, Cashier’s Check or Money Order, must be made within 10 Days of the Sale Date, as defined in the Memorandum of Sale, TIME BEING OF THE ESSENCE. In the event that the High Bid is for $3,000.00 or less, the High Bidder must Pay the entire Purchase Price and Recording Cost immediately after the Auction (as further defined by the Auctioneer’s Terms & Conditions). All Certified Checks, Cashier’s Checks or Money Orders must be Made Payable to Ronald H. Williams, Treasurer for The City of Suffolk.
CLOSING The Special Commissioner reserves the right to reject any and all bids. The sale is subject to Confirmation by the City of Suffolk Circuit Court. Confirmation may take up to 90 days from the Sale Date. If the Purchaser Fails or Refuses to Tender the Full Purchase Price to Ronald H. Williams, Treasurer for The City of Suffolk within 10 Days of the Sale Date, the Purchaser will be in Breach of the Agreement To Buy the Property. Upon the Purchaser’s Breach, the Special Commissioner may Treat the Sale as Canceled and Apply the Deposit to the Costs of the Sale with the remaining balance delivered to the City to be applied against amounts Owed for the Taxes. The Property may then be Resold at the Risk and Expense of the Defaulting Purchaser. The Special Commissioner’s Retention of the Deposit shall not limit any Rights or Remedies that exist against the Defaulting Purchaser. The Purchaser shall pay any Closing Costs, Including the entire Deed Recordation Fee (Inclusive of the Grantor’s Tax), which will be calculated by the Special Commissioner and added to the balance owed by the Purchaser. Real Estate Taxes Owed on the Property at the time of the Sale will be Prorated as of the Sale Date and Paid to the City of Suffolk out of the Sale Proceeds after the Court confirms the sale and directs the Clerk of the Court to Disburse the Funds. The Purchaser shall be Responsible for Paying all Taxes After the Sale Date as they become due. If the Court does not Confirm the Sale, the Special Commissioner will Refund All Sums Paid by the Purchaser. TITLE Title to the Property will be conveyed by Special Warranty Deed after Payment of the Full Purchase Price, Including the Fee for Recording the Deed, the Court’s Confirmation of the Sale and Entry of a Decree directing the Clerk to Disburse the Sale Proceeds. The Property will be Sold Without Representations of Any Kind (except for the Special Warranty in the Deed). The Property will be Sold free of All Claims of Any Creditor, Person or Entity pursuant to Virginia Code §58.1-3967, et seq, and the Property will be Sold “As Is,” in gross and not by the acre, and subject to, without limitation, restrictions, conditions, easements, liens or encumbrances of record, possible rights of parties in possession, encroachments, overlaps, gaps and gores, deficiency in quantity, all questions 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. The Special Commissioner does not Warrant or Convey Title to Personal Property that might be on the Property or within any dwelling. Personal Property includes, without limitation, such items as Storage Building, Appliances, Window Treatments, Furniture, Automobiles, etc. All parcels are bought at the Purchaser’s Risk. In short, these properties are Sold “As Is,” “With All Faults,” and Without Any Representation or Any Warranty of Any Kind, Nature or Description.
Terms and Conditions of the Sale for Online Bidding
TERMS: To register to bid online contact auction coordinators Stewart Black or David Bateman at 757-538-0123 as soon as possible.
THE TERMS AND CONDITIONS OF THE SALE: 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 for properties sold for more than $3,000.00, by certified or cashier’s check, with the balance due in Ten (10) days, also by certified or cashier’s check. High bids of $3,000.00 or less require full payment day of the live/online auction. The successful bidder shall deposit the bid price and/or down payment with Ronald H. Williams, City of Suffolk Treasurer at 442 W. Washington Street, Suffolk Virginia 23434 within 2 hours of close of sale and no bond shall be required of the Special Commissioners. The said 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, deficiency 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. The sale shall be subject to confirmation by the court.
Bidding: The auction software and our online bidding platform will notify bidders by email if they have been outbid. Please consider using the “Max Bid” feature as this will allow the software to bid on your behalf up to, but not exceeding, your Max Bid. If two or more bidders put in the same Max Bid, the auction software will recognize the earliest placed bid. The real estate is offered for sale to all persons without regard to race, color, religion, sex, handicap, familial status or national origin.
Auction Ending: The Auction is scheduled to end at the published end time, subject to auto-extend bidding. Each time a bid is placed with the clock showing less than 2 minutes, the clock will reset to 2 minutes. If there are no bids within 2 minutes, the auction will end. This procedure prohibits any last second “sniping'"from taking place and making it fair for everyone. In the event the auto-extend time needs to be reduced, Virginia Auction Company, Inc. reserves the right to adjust the auto-extend, as needed. Virginia Auction Company, Inc. also reserves the right to open closed lots back up at the end of the auction for bidding. The lots will close in 5 minute intervals starting with Lot 1 @ 10:00AM and Lot 2 @ 10:05AM and so on.
Closing: All properties being sold are subject to court confirmation.
High Bids: If you are the high bidder for a property and are using our online platform to participate in our auction, you will be sent a Purchase Agreement for electronic signature. You must electronically sign the Purchase Agreement within thirty (30) minutes of receiving the Purchase Agreement for that property. If you fail to sign the Purchase Agreement within this timeframe, you are agreeing to forfeit your entire deposit. (See Default by Purchaser Section) Virginia Auction Company, Inc. reserves the right to revoke all bidding privileges for any bidder, whether participating online or in-person, that does not fully comply with all terms and conditions set forth for this auction.
Default by Purchaser: In the event that the purchaser does not return signed contract via email within thirty (30) minutes and provide the balance of the total purchase price within ten (10) days the purchaser shall be deemed in default and the purchasers deposit will be retained by the special commissioner. The special commissioner may resort to any other action or remedy in law or equity, including legal action to collect the costs of resale and any deficiency resulting from resale.
Inspection: All property is being sold “As is, Where is, With all faults.” With no warranties expressed or implied of any kind. Bidders are encouraged to rely solely on their own due diligence. The Auctioneer, its agents and subagents, and the Special Commissioner assume no liability for errors or omissions in this or any other property listing or advertising or promotional/publicity statements and materials. All information provided was gathered from sources deemed reliable.
Bidding: The Auctioneer reserves the right to accept or reject any and all bids either live or online. Bids are accepted live/onsite, in addition to the internet. Virginia Auction Company, Inc. is not responsible for failed execution of bids due to bidder’s technological difficulties or issues.
Technical Issues: Virginia Auction Company, Inc. has made reasonable efforts to provide for online bidding for this sale. You recognize and acknowledge, however, that technical problems with hardware, software, or internet connectivity, as well as human errors, may arise and may affect, without limitation, the sale website, our online bidding program and process, your or our internet service and access, and your connection to this sale bidding program and process. You further acknowledge that these and other technical problems may develop at any time and with or without notice. You acknowledge and agree that neither we nor the Special Commissioner is in any way responsible for any such technical problems, and that you have no absolute or other right to be able to bid on this sale in the event of any such technical problems. Notwithstanding the foregoing, you further acknowledge and agree that, in the event of any such technical problems we reserve the right to postpone or cancel the sale and/or extend the bidding time for this sale and/or relist the property for sale at another time, in our sole discretion, and that our decision with regard to any such actions is and will be final. Bidders must take care in entering bids, and each bidder will be responsible for all bids placed under the Bidder’s approved registration. Once entered and recorded online, a bid is deemed to be final on behalf of the registered Bidder and may not be modified, retracted, or rescinded in whole or in part.