Valuable Real Estate For Sale At Online Auction
Closing June 15, 2022 @ 1:00 PM
To settle the estate of the late Dr Garner and Mae Frances Downey we are offering at online auction the real estate and improvements located at 210 Lee Avenue, Elkton VA 22827. This property is zoned Residential and is comprised of 6 lots. It is being offered in two separate tracts. Tract #1 is four lots improved by a 2 bedroom 1 1/2 bath home, garage, and garden shed. Tract #2 is two vacant building lots. Also offered in this auction are 12 cemetery lots in the Elk Run Cemetery.
This Is An Online Only Auction - All Bids Must Be Submitted Online. Click The "Bid Online Now" Button To See Property Details and To Bid.
The Downey home is a well constructed 1,326 sq ft house built in 1947. It has 2 or 3 bedrooms (depending how you count) and 1 1/2 baths. It also has a full basement and an enclosed porch. This is a solid house that needs some updating but will make a nice home for a small family with room to spread out on four lots totalling 0.57 acres (25,000 sq ft).
The house and the 4 lots are offered in Tract #1. Tract #2 is two adjacent vacant building lots totaling 0.286 acres (12,500 Sq Ft). If you are looking for nice neighborhood to build in, this is your opportunity. Tracts# 3-8 are pairs of cemetery lots with a total of 12 lots being sold. These 12 lots are located in a beautiful section of the Elk Run Cemetery in Elkton.
The bidding for all of these tracts will close at 1:00 PM June 15 with a two minute auto extend. This means that if a bid is placed on any tract within the last two minutes the bidding will be extended on all tracts for an additional two minutes.
The Lee Avenue property is being sold to the highest bidder regardless of price with a starting bid of $25,000 for Tract #1 and $5,000 for Tract #2. The cemetery lots are being sold to the highest bidder regardless of price.
Property Tour Dates: Monday May 30 @ 1 PM, Saturday June 11 @ 1 PM, or on other dates and times by appointment. Please Call Linford Berry at 540-476-3309 or HL Wenger @ 540-246-3333 for more information or for an appointment.
Conveniently Located Just A Few Blocks From Shopping, Restaurants, and Schools
Detached Garage With New Roof In 2021
Hardwood Floors Throughout The House Under The Carpet
Basement Is Dry
Lennox Oil Furnace and Heat Pump/AC (New In 2018)
Municipal Water and Sewer
New Survey Just Completed
Roof Is Good But House Will Need New Windows and Shutters
Buy Your House and Your Burial Lots At The Same Time!
Additional Information Can Be Found At The 'Docs' Tab At The Top Of This Listing and By Clicking The “Bid Online Now” Button.
This property is being sold AS-IS with no financing/appraisal/inspection contingencies and with no warranties or guarantees of any kind. Seller does guarantee clear title to the property. Bidders are encouraged to enlist the assistance of professional inspectors or contractors in evaluating the condition and value of the property. All inspections must be performed prior to the auction.
Payment Terms: (See our complete terms at the tab above). Payment will be in the form of Cash or Cash Equivalent with a $10,000 for Tract #1 and $2,000 for Tract #2 non-refundable deposit due the day of the auction (within 24 hours for online bidders at a distance) and the balance due at closing within 45 days. Deposit will be applied to the purchase price at closing. Please do not bid if you are not able to close within 45 days.
Payment In Full via cash or good check along with a signed Cemetery Lot Transfer form will be required from all winning bidders of the cemetery tracts within 24 hours of the close of the auction.
Buyers Premium: There will be a 10% Buyers Premium added to the high bid to determine total contract purchase price. (For example a 100,000 bid would have a buyers premium of $10,000 added for a total purchase price of $110,000).
Realtor Representation: Preapproved (No later than 5:00 PM on June 14) brokers participation will be compensated. Twenty percent (20%) of the buyers premium will be paid to a qualified licensed real estate agent whose registered buyer's offer is accepted by the seller and closes on the property.