Absolute Trustee Auction - Penhook VA 300+/- Acres

Bidding starts 2020-03-14 Location: Sago Rd, Penhook VA 24137

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Tract 1 : March 14th Auction Sago Rd
Tract 2 : March 14th Auction Sago Rd
Tract 3 : March 14th Auction Sago Rd

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Auction Information

ABSOLUTE TRUSTEE AUCTION: 310+/- ACRES OFFERED IN 3 TRACTS Over 310 acres in Penhook VA offered in 3 tracts Preview Schedule: 10 am to 11 am on Sunday 3/1, Wednesday 3/4 and Saturday 3/7 Property Address: Property is off of Circle Creek Rd, Penhook VA (Franklin Co.), Sago Rd & Witcher Rd The 310+/- acres will be offered in the following tracts Tract 1: 57+/- acres (tax map #106-27) Approximately 50% open & 50% wooded. Has a small pond Access is from Sago Rd or Circle Rd SALE SITE Tract 2: 135+/- acres (tax map# 106-26) Mostly wooded, does have an old house and barn Deeded easement to tract from Sago Rd (through tract 1) There is also road frontage on Circle Creek Rd (with an access point) Tract 3: 116+/- acres Approximately 45% open fields and the balance wooded Road frontage on Witcher Rd. There are a pond and creek on this tract Sales Manager: Pete Ramsey (434-258-6611) and George McDaniel (434-546-9235) Directions: The property is in the Penhook area of Franklin County on Sago Road (SR 620) between Walker Road (SR651) & Circle Creek Road (SR652). Please refer to the maps of the auction site for more detail. For GPS guidance you can use (460 Sago Road Penhook VA 24137 as a reference) Terms: $10,000.00 deposit on sale day in certified funds with a wire transfer to the Trustee in an amount necessary to bring the deposit to a total of 10% of the contract price. Such additional money must be received by the Trustee no later than 5:00 pm EDT on Wednesday, March 18, 2020. The balance of the purchased price is due within 30 days of the sale date. Real estate taxes will be prorated as of the sale date. Disclaimer: For the purposes of ensuring compliance with applicable federal regulations restricting “related party” transactions by Seller, Purchaser represents and warrants to Seller that as of the date of this Contract, Purchaser is not an employee, director, or officer of Seller or an immediate family member (meaning spouse, parent, sibling, child, stepchild, parent-in-law, sibling-in-law, son-in-law, or daughter-in-law) of any employee, director, or officer of Seller. If Purchaser is a corporation, partnership, limited liability company, or other entity, Purchaser represents and warrants that none of its manager(s) or owner(s) are related parties of Seller as described above, unless Purchaser is a public company whose entity is traded on a nationally recognized exchange, in which case, only a controlling interest shall be considered for purposes of this representation. If Purchaser is a trust, Purchaser represents and warrants that neither its trustee(s) nor its beneficiaries are related parties of Seller as described above.

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