FORECLOSURE SALE OF VALUABLE REAL ESTATE AT PUBLIC AUCTION: LAKE MONTICELLO FIVE (5) PARCELS OF VACANT LAND IN FLUVANNA COUNTY 59-18-1 – 2.322 Acres of Vacant Land 59-18-3 – 2.272 Acres of Vacant Land 58-18-4 – 2.300 Acres of Vacant Land 59-18-5 – 2.170 Acres of Vacant Land 59-18-6 – 2.176 Acres of Vacant Land SALE: FRIDAY, OCTOBER 5, 2018, AT 11:00 A.M. AT THE FLUVANNA COUNTY CIRCUIT COURTHOUSE
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FORECLOSURE SALE OF VALUABLE REAL ESTATE AT PUBLIC … · I enclose a copy of the sale ad regarding property for which we will be conducting a foreclosure sale at public auction on
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FORECLOSURE SALE OF VALUABLE REAL ESTATE AT PUBLIC AUCTION:
LAKE MONTICELLO
FIVE (5) PARCELS OF VACANT LAND IN FLUVANNA COUNTY 59-18-1 – 2.322 Acres of Vacant Land 59-18-3 – 2.272 Acres of Vacant Land 58-18-4 – 2.300 Acres of Vacant Land 59-18-5 – 2.170 Acres of Vacant Land 59-18-6 – 2.176 Acres of Vacant Land
SALE: FRIDAY, OCTOBER 5, 2018, AT 11:00 A.M. AT THE FLUVANNA COUNTY CIRCUIT COURTHOUSE
September 17, 2018 Dear Sir/Madam: I enclose a copy of the sale ad regarding property for which we will be conducting a foreclosure sale at public auction on Friday, October 5, 2018, at 11:00 a.m., at the Fluvanna County Circuit Courthouse. In my opinion, one of the reasons why foreclosure sales typically do not bring as much as traditional listed sales of property is that the property is not marketed by the local real estate broker and sales agent community because, of course, usually the local real estate brokers and sales agents have no financial incentive to do so. In an effort to change that, as Trustee I am paying a commission of two percent (2%) to the real estate broker or sales agent who identifies the successful bidder at sale. In other words, if you send me the name of “your buyer” by 3:00 p.m. on Thursday, October 4, 2018, and the bidder identified by you turns out to be the successful bidder at sale (and closes, of course), I will pay you a commission of 2% of the gross proceeds of sale. Of course, “your buyer” has to be someone who has not been previously identified by another broker or agent and should not be an entity or individual with which you have an investment or ownership relationship. Very truly yours,
Phone: (434) 979-1400 Fax: (434) 977-5109 530 East Main Street P.O. Box 2057 Charlottesville, Virginia 22902
TABLE OF CONTENTS
Realtor Representation Form Sale Ad: Terms of Sale Plat Current Deed of Trust Sample Foreclosure Auction Contract Nancy R. Schlichting Lenhart Pettit 530 East Main Street P.O. Box 2057 Charlottesville, VA 22902 Telephone: (434) 220-6108 Fax: (434) 977-5109 [email protected]
REALTOR REPRESENTATION FORM Must be received by Trustee by 3:00 p.m. on Thursday, October 4, 2018.
REMIT TO: Nancy R. Schlichting, Substitute Trustee FAX: (434) 977-5109 Email: [email protected] DATE/TIME OF AUCTION: October 5, 2018, 11:00 A.M. PROPERTY DESCRIPTION: Tax Map Nos. 59-18-1, 59-18-3, 59-18-4, 59-18-5 and 59-18-6 PROSPECTIVE BUYER NAME: ____________________________________________________ PROSPECTIVE BUYER ADDRESS: ____________________________________________________ PROSPECTIVE BUYER PHONE NO.: ____________________________________________________ This shall serve as written notice to register the named Prospective Buyer with the Substitute Trustee with respect to the above referenced property to be sold at Public Auction on the stated date. It is understood and agreed that the realtor commission of two percent (2%) of the purchase price will be governed in accordance with certain Terms: (a) this Form is properly completed and timely submitted; (b) the Prospective Buyer named is the highest bidder at the auction sale; (c) the Prospective Buyer executes a Contract of Sale and closes on the sale of the subject property in accordance with the terms of the Contract of Sale; (d) the Prospective Buyer has not been identified previously by another Realtor; and (e) Prospective Buyer is not related to the undersigned Realtor in any way, including but not limited to, common ownership or as family members. In order to be effective, all Realtor Representation Forms must be received by the Substitute Trustee on or before 3:00 p.m. on Thursday, October 4, 2018. ACCEPTED: ________________________________________________ ________________________________ Realtor Signature Date ________________________________________________ Realtor Name (Printed) ________________________ _____________________________________ ___________________ Realtor License No. Realtor Email Realtor Phone No. ______________________________________________ ________________________________ Prospective Buyer Signature Date RECEIVED BY SUBSTITUTE TRUSTEE: By: __________________________________________ ________________________________
FORECLOSURE SALE OF VALUABLE REAL ESTATE AT PUBLIC AUCTION
FIVE (5) PARCELS OF VACANT LAND IN FLUVANNA COUNTY
59-18-1 – 2.322 Acres of Vacant Land 59-18-3 – 2.272 Acres of Vacant Land 58-18-4 – 2.300 Acres of Vacant Land 59-18-5 – 2.170 Acres of Vacant Land 59-18-6 – 2.176 Acres of Vacant Land
SALE: FRIDAY, OCTOBER 5, 2018 AT 11:00 A.M.
AT THE FLUVANNA COUNTY CIRCUIT COURTHOUSE
In execution of a Deed of Trust, being dated July 7, 2008, of record in the Clerk’s Office of the
Fluvanna County Circuit Court, Virginia, in Deed Book 770, Page 690, (the “Deed of Trust”), the
undersigned as Trustee by instrument of record in the aforesaid Clerk’s Office, will offer for sale at
public auction:
All that certain lot or parcel of land, lying and being situate in the Fork Union Magisterial District of Fluvanna County, Virginia, more particularly described as Lot C, containing 13.93 acres, on plat of Robert L. Lum, Land Surveyor, dated August 7, 1998, entitled “The Curtis Naylor Properties,” said plat attached to a deed recorded in the Clerk’s Office of the Circuit Court of Fluvanna County, Virginia, in Deed Book 347, Page 421. Said property is the same as that conveyed to the Grantor by the terms of a deed of Allen J. McCauley and Kathryn M. McCauley, husband and wife, bearing date June 10, 2008, of record in said Clerk’s Office immediately prior hereto.
(the “Property”). TERMS OF SALE: A bidder’s deposit of the lesser of $10,000 or 10% of the winning bid, shall
be paid at the sale by cash or cashier’s check made payable to Bidder (to be assigned to Trustee if
Bidder is successful), with the balance upon delivery of a trustee’s deed within 30 days of sale. If the
initial deposit is less than 10% of the winning bid, then the successful bidder’s deposit MUST be
increased to 10% of the winning bid by cashier’s check or wired funds within three (3) business days.
Settlement shall be held within 30 days after the date of sale unless otherwise postponed at the sole
discretion of the Trustee. Sale is subject to the covenants, conditions, restrictions, rights of way, and
easements, if any, contained in the deeds and other documents forming the chain of title to the property.
Property is sold “AS IS, WHERE IS,” “WITH ALL FAULTS” and “WITH ABSOLUTELY NO
WARRANTIES.”
TIME SHALL BE OF THE ESSENCE WITH RESPECT TO SETTLEMENT. The deposit shall
be applied to the credit of successful bidder at settlement; or, in the event of failure to complete
settlement within the time set forth after the date of sale, in accordance with the terms of sale, the
deposit shall be forfeited and applied to the costs of sale, including Trustee’s fee, and the Property shall
be resold at the cost and expense of the defaulting Purchaser. Risk of loss or damage to the Property
shall be borne by successful bidder from the time of auctioneer’s strikedown at the sale. Purchaser shall
pay all settlement fees, title examination charges, title insurance premiums, and recording costs. Current
real estate property taxes will be prorated at closing as of date of sale. Rollback taxes, if any, will be the
responsibility of the Purchaser.
THE TRUSTEE RESERVES THE RIGHT: (i) to waive the deposit requirements; (ii) to extend
the period of time within which the Purchaser is to make full settlement; (iii) to withdraw the Property
from sale at any time prior to the termination of the bidding; (iv) to keep the bidding open for any
length of time; (v) to reject all bids; and (vi) to postpone or continue this sale from time to time, such
notices of postponement or setting over shall be in a manner deemed reasonable by the Trustee.
Announcements made on day of sale take precedence over all other advertised terms and conditions.
FOR INFORMATION SEE: www.lplaw.com/foreclosures
Nancy R. Schlichting Acting Trustee Lenhart Pettit P.C. 530 E. Main Street P. O. Box 2057 Charlottesville, VA 22902 (434) 220-6108 (Schlichting) [email protected]
THIS DEED OF TRUST, made this ih day of July 2008, by and between STEVE
A. HOLSAPPLE, party of the first part, GRANTOR, and Donna F. Bingler of 408 E.
Market Street, Suite 104B, Charlottesville, Virginia 22902, and W. Gale Pickford of 5759
The Square, Crozet, Virginia 22932, parties of the second part, GRANTEES, hereinafter
called Trustees,
WITNESS ETH:
That for and in consideration of the provisions of this deed and of FIVE DOLLARS
($5.00), cash in hand paid by the said Trustees to the party of the first part, receipt of which
is hereby acknowledged, the party of the first part does hereby GRANT, BARGAIN and
CONVEY unto said Trustees with GENERAL WARRANTY of title,
All that certain lot or parcel of land, lying and being situate in the Fork Union Magisterial District of Fluvanna County, Virginia, more particularly described as Lot C, containing 13.93 acres, on plat of Robert L. Lum, Land Surveyor, dated August 7, 1998, entitled "The Curtis Naylor Properties", said plat attached to a deed recorded in the Clerk's Office of the Circuit Court of Fluvanna County, Virginia, in Deed Book 347, page 421. Said property is the same as that conveyed to the Grantor by the terms of a deed of Allen J. McCauley and Kathryn M. McCauley, husband and wife, bearing date June 10, 2008, of record in said Clerk's Office immediately prior hereto.
NOTICE: THE DEBT SECURED HEREBY IS SUBJECT TO CALL IN FULL OR THE TERMS THEREOF BEING MODIFIED IN THE EVENT OF A SALE OR CONVEYANCE OF THE PROPERTY CONVEYED.
IN TRUST, NEVERTHELESS, to secure all obligations arising hereunder and a I
certain debt of CORVEN D. FLYNN, personally, in the sum of ONE HUNDRED FIFTY
THOUSAND AND 00/100------DOLLARS ($150,000.00) evidenced by 2J bonds, dated
July 7, 2008, payable to bearer at O'NEILL MORTGAGE CORPORATION, as follows:
..., ,,::······.' ~~" II ,,,, '•• 11 '• ,,\ JI " ''••to••"'' 'T
VIRGINIA: CLERK'S OFFICE OF THE CIRCUIT COURT OF FLUVANNA COUNTY St. R. Tax DO Co. R. Tax 'C 0
The foregoing instrument with acknowledgment wa~J
Transfer
Clerk
admitted to rf)ord on :J~1~ ~ , 20_0_~_ at
----...--+-~- l r-'27 f1M. In D.B.73 0 Page(s) tcAo,(ff] .
CONTRACT FOR PURCHASE OF PROPERTY AT FORECLOSURE SALE
Fluvanna Tax Map Nos. 59-18-1, 59-18-3, 59-18-4, 59-18-5 and 59-18-6
THIS CONTRACT OF PURCHASE (the “Contract”) made and entered into this 5th day of
October, 2018, by and between ______________________, (“Purchaser(s)”), and NANCY R.
SCHLICHTING, acting for Lenhart Pettit, PC Substitute Trustee (“Seller”) to convey the following
property in Fluvanna County, Virginia:
All that certain lot or parcel of land, lying and being situate in the Fork Union Magisterial District of Fluvanna County, Virginia, more particularly described as Lot C, containing 13.93 acres, on plat of Robert L. Lum, Land Surveyor, dated August 7, 1998, entitled “The Curtis Naylor Properties,” said plat attached to a deed recorded in the Clerk’s Office of the Circuit Court of Fluvanna County, Virginia, in Deed Book 347, Page 421. Said property is the same as that conveyed to the Grantor by the terms of a deed of Allen J. McCauley and Kathryn M. McCauley, husband and wife, bearing date June 10, 2008, of record in said Clerk’s Office immediately prior hereto.
(the “Property”). WHEREAS, Purchaser was last and highest bidder at the public auction held on October 5, 2018
(the “Sale Date”) with a bid of $______________ (“Purchase Price”) for the purchase of the real estate
known as:
□ TAX MAP PARCEL 59-18-1 □ TAX MAP PARCEL 59-18-6
□ TAX MAP PARCEL 59-18-3
□ TAX MAP PARCEL 59-18-4
□ TAX MAP PARCEL 59-18-5 (“Property”); and
WHEREAS, Purchaser did pay to Trustee as deposit the sum of $______________, the receipt of
which is hereby acknowledged by the Trustee; and
WHEREAS, in connection with this sale, Purchaser acknowledges and agrees to the terms and
conditions as stated in the advertised foreclosure.
NOW, THEREFORE, in consideration of the premises, the parties do hereby agree as follows:
1. That within three (3) business days from the date of this Contract, Purchaser shall pay to
Trustee the sum of $_____________, representing the balance due of the deposit required (10% of the
Purchase Price).
2. That Purchaser shall pay to Trustee, the balance of the Purchase Price, by wire transfer or
certified or cashier’s check, at settlement.
3. At settlement, Trustee shall deliver to Purchaser a deed with Special Warranty of Title
conveying the Property to Purchaser. The conveyance of the Property is subject to the covenants,
conditions, easements, restrictions and reservations, if any, superior to the lien of the Deed of Trust, duly
of record and constituting constructive notice.
4. Grantor’s tax and pro-rated real estate taxes up to the Sale Date shall be paid by Trustee.
All other costs and expenses shall be paid by Purchaser. Each party shall pay its own attorney’s fees.
Rollback taxes, if any, shall be the responsibility of Purchaser.
5. Settlement shall occur on or before 2:00 p.m. on November 5, 2018 (the “Settlement
Date”), unless otherwise extended at the sole discretion of the Trustee. Possession of the Property shall
be turned over at settlement.
6. If the Seller is unable to convey title to the subject property for any reason, the sole
remedy of Purchaser is the return of the deposit with accrued interest. If the Seller believes any
challenge to the validity of the sale has merit, the Seller may declare in her sole discretion the sale void
and return the deposit, and Purchaser shall have no further remedy.
7. Purchaser agrees this Contract is not contingent upon Purchaser obtaining financing from
any third party and shall be treated as a cash sale. Purchaser further agrees this Contract is not
contingent upon an appraisal of the Property being equal to or greater than the Purchase Price.
8. The deposit shall be applied to the credit of Purchaser at settlement; or, in the event of
Purchaser’s failure to complete settlement on the Settlement Date, including any postponement by
Trustee, and in accordance with the terms of sale, the deposit shall be forfeited and applied to the costs
and expenses of sale, including the auction expenses and Trustee’s fee and then to the balance due under
the applicable note. Thereafter Trustee may resell the Property at the cost and expense of the defaulting
Purchaser or Trustee may accept the next highest available bid from the auction sale, or Trustee may sell
the Property to the lender at the bid of the defaulting Purchaser. Purchaser shall be liable for any
deficiency resulting from the resale of the Property as well as for all costs, expenses, and reasonable
attorneys’ fees connected to and arising out of Purchaser’s failure to fulfill its obligations under this
Contract, including but not limited to the process of any resale or the Trustee’s acceptance of the next
highest available bid.
9. The Property is sold “AS IS” with all faults and without reliance on any warranty of any
kind whatsoever and Purchaser hereby accepts the Property in the condition as of the Sale Date. Risk of
loss or damage to the Property shall be borne by Purchaser from Sale Date.
10. Choice of Settlement Agent: Virginia’s Consumer Real Estate Settlement
Protection Act provides that the purchaser or borrower has the right to select the settlement agent
to handle the closing of this transaction. The settlement agent’s role in closing this transaction
involves the coordination of numerous administrative and clerical functions relating to the
collection of documents and the collection and disbursement of funds required to carry out the
terms of the contract between the parties. If part of the Purchase Price is financed, the lender for
the Purchaser will instruct the settlement agent as to the signing and recording of loan documents
and the disbursement of loan proceeds. No settlement agent can provide legal advice to any party
to the transaction except a settlement agent who is engaged in the private practice of law in
Virginia and who has been retained or engaged by a party to the transaction for the purpose of
providing legal services to the party.
11. Variation by Agreement: The provisions of the Consumer Real Estate Settlement
Protection Act may not be varied by agreement, and rights conferred by this chapter may not be
waived. Trustee may not require the use of a particular settlement agent as a condition of the sale
of the Property.
12. Escrow, Closing and Settlement Service Guidelines: The Virginia State Bar issues
guidelines to help settlement agents avoid and prevent the unauthorized practice of law in
connection with furnishing escrow, closing or settlement services. As a party to a real estate
transaction, the Purchaser or Borrower is entitled to receive a copy of these guidelines from his
settlement agent, upon request, in accordance with the provisions of the Consumer Real Estate
Settlement Protection Act.
13. Ratification by Trustee: This Contract shall not be valid or enforceable unless and until
Trustee has executed and ratified this Contract.
14. This Contract may be executed in counterparts, each of which shall constitute an original
and all of which when taken together shall constitute one and the same document. This Contract may
also be executed by facsimile and/or scanned signature which shall be deemed originals for all purposes.
[SIGNATURE PAGE TO FOLLOW]
WITNESS the following signatures and seals.
I, Nancy R. Schlichting, Auctioneer, do hereby certify that the above-listed price was the highest bid received at the auction of the aforesaid Property. Dated this 5th day of October, 2018. Nancy R. Schlichting – Auctioneer ___________________________________ Seller: Nancy R. Schlichting, acting for
Lenhart Pettit PC Substitute Trustee
___________________________________ Purchaser’s Signature ___________________________________ Purchaser’s Printed Name ___________________________________ Address ___________________________________ City / State / Zip _________________/_________________ Email Telephone ___________________________________ Co-Purchaser’s Signature ___________________________________ Purchaser’s Printed Name ___________________________________ Address ___________________________________ City / State / Zip _________________/_________________ Email Telephone Purchaser’s Settlement Agent (if known): ___________________________________ Name ___________________________________ Address ___________________________________ City / State / Zip _________________/_________________ Email Telephone