Lee County & Town of Pennington Gap — Judicial Sale

NOTICE OF PUBLIC AUCTION
SPECIAL COMMISSIONER’S SALE OF REAL ESTATE
COUNTY OF LEE, VIRGINIA & TOWN OF PENNINGTON GAP, VIRGINIA

Pursuant to the terms of those certain Decrees of Sale entered in the Circuit Court of County of Lee, the undersigned Special Commissioner will offer for sale at a simulcast (with online and in person bidding) public auction the following described real estate inside the Courtroom at 33640 Main Street Courthouse, Jonesville Virginia 24263, on June 16, 2023 at 1:00 pm.

The sale of such property is subject to the terms and conditions below, and any term or conditions which may be subsequently posted or announced by Lee Auction Company (“Auctioneer”) and Taxing Authority Consulting Services, PC (“TACS”). Subsequent announcements made on the day of the auction take precedence over any prior written or verbal terms of sale.

For complete information (including terms, conditions and property listings), please see the Information Packet.

You can visit the auctioneer’s website here: Lee Auction Company

GENERAL TERMS OF SALE:  All sales are subject to confirmation by the Circuit Court. The Special Commissioner has the right to reject any bids determined to be unreasonable in relation to the estimated value of the Property. Any unsold property will be offered for sale again at the next auction, whenever that may be.

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. Properties are offered for sale as-is, where-is, and if-is, with all faults and without any warranty, either expressed or implied. 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 expense, prior to bidding on any of the properties to determine the suitableness of the property for their purposes. It is not guaranteed that the property has a right-of-way or that it is not landlocked. Property is sold in gross and not by the acre. There is no warranty as to the accuracy of any information contained in the GIS system, nor is the information contained therein a legal representation of any of the features of the property which it depicts.

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.

PAYMENT TERMS:  On the day of the auction, 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 of $100.00, added to the final bid. Bids which are less than One Thousand Dollars ($1,000.00) shall be paid in full at the time of the auction. Deposits shall not exceed Twenty Thousand Dollars ($20,000) per parcel. Such sum shall be held by the Special Commissioner and credited towards the purchase price following confirmation of the sale. Subsequent taxes will be prorated from the auction date, and the highest bidder will be responsible for taxes from that date forward.

The balance of the purchase price and recording costs for deed recordation shall be deposited by the highest bidder with the Special Commissioner within fifteen (15) days of confirmation of the sale by the Court.

Terms applicable to In-Person Bidders ONLY: The deposit and buyer’s premium are due on the day of the auction. All payments must be made in the form of personal 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.leeauction.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 Lee Auction Company, at (276) 546-2067 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 deposit and buyer’s premium must be received in full within seven (7) days following the auction closing (no later than June 23, 2023). 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 County of Lee and forwarded to TACS, at the address shown below. Wire transfer instructions will be provided to the highest bidder upon request.

To qualify as a purchaser at this auction, you may not owe delinquent taxes to County of Lee and/or Town of Pennington Gap 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.leeauction.com, by email to sales@leeauction.com or by phone to Jim “Red” Crabtree, at (276) 546-2067. Questions concerning the property subject to sale should be directed to TACS online at www.taxva.com, by email to rcranmer@taxva.com, by phone to (804) 293-8608, or by writing to the address below.

Re: County of Lee & Town of Pennington Gap Judicial Sale Auction
Taxing Authority Consulting Services, PC
P.O. Box 31800
Henrico, Virginia 23294-1800