Bankruptcy Court Approved:
Trustee Foreclosure
ABSOLUTE AUCTION
The Belle Grae Inn
515 West Frederick Street
Belle Grae Inn
Staunton, Virginia
Auction: Wednesday, August 18th at 12:00 noon on site at The Garden Room at the Belle Grae Inn
Previews: August 4th and August 11th
10:00 a.m. to 2:00 p.m. or weekends of appointment only
Building Size: 5,721 sf
Lot Size: 1.019 acres
Tax Assessed Value: $638,540.00
2 Story Brick Inn
Main Floor - Foyer, Office, Registration, 1 Bedroom, 1 Full bath, 3 half baths, 4 Large Dining/Sitting Rooms, Garden Room, Service Bar, Full Cook’s Kitchen
Upper Floor - 5 Bedrooms, 2 Sitting Rooms, 5 Full baths, 1 half bath, Second Floor Exit
The Old Inn, Circa, 1873 is a comfortably restored Victorian Mansion. The Old Inn has a parlor for our guests to use with fireplace and a wide veranda for sitting and sipping while enjoying the mountains or Victorian rooftops.
The Inn offers five delightful rooms and suites in the traditional bed and breakfast style. Each room or suite has its own personality and private bath, with sleigh, four poster, or canopy beds. Each has its own sitting area and three of the rooms and suites in this building have an in-room fireplace.
This awesome brick Victorian Manse can continue to function as B & B, could be a "McMansion" for a single family, an incubator for a group of independent businesses, a private home and art salon or intimate retail space, a Tea Room or a Wedding Chapel and reception center.
Six bedrooms, 8 fireplaces, office, library, parlor, dining room, sitting room, music room, full commercial kitchen, a 1500 sq ft enclosed garden room, deep wrap around verandah facing Betsie Bell and Mary Gray Mountains and a private courtyard in the rear. Over an acre of landscaped gardens and pathways connect copious parking connected by a private lane from Frederick Street on the South entrance to Baldwin Street to the North.
Basic Terms and Conditions:
1. REGISTRATION: Bids accepted only from registered bidders. Bring driver’s license for identification. A Cashier’s Check in the amount of 10% of the bid is required to obtain a bid number.
2. DEPOSIT: The successful bidders will sign a Foreclosure Sale Agreement immediately following the falling of the hammer, and the Cashier’s Check in the amount of 10% of each of the bid prices will be held by the Substitute Trustee and will be applied to the purchase price at closing. Deposits are non-refundable.
3. CLOSING: Closings are to take place within 30 days of sale - Time will be of the Essence.
4. DEED: Properties to be conveyed by Special Warranty Deed. Property being sold by Substitute Trustee, pursuant to terms of Deed of Trust.
5. TYPE OF SALE: All properties sold by Substitute Trustee will be ABSOLUTE - Regardless of the Price.
6. “AS-IS”, “WHERE-IS”: All properties, will be sold “AS-IS”, “WHERE-IS”. Potential Buyers must perform such independent investigations with respect to property as they deem necessary to verify information provided by Auction Company or Substitute Trustee.
7. ANNOUNCEMENTS: Announcements made on the day of sale take precedence over all prior releases, both verbal and written, concerning this sale or properties.
8. WARRANTY: All information provided by Auction Company and Substitute Trustee is deemed reliable but is not warranted. The information contained in this brochure and any advertisements by Auction Company or Substitute Trustee are subject to verification by all parties relying on it. No liability for its accuracy, error or omission is assumed by the Auction Company and Substitute Trustee.
9. REPRESENTATION: Auction Company and its representatives represent the Seller.
10. BUYER’S PREMIUM: There will be a 5% Buyer’s Premium in effect on day of sale. The Buyer’s Premium is added to the high bid amount, to determine the Contract Sales Price.
11. BID INCREMENTS: Auctioneer reserves the right to set bid increments.
12. GROUPING: The Auction Company reserves the right to group properties.
13. BROKER PARTICIPATION: There will be a 3% Broker Participation paid to a Broker/Agent meeting the Auction Company’s Guidelines for Broker Participation. Call Auction Company for the Guidelines or print the form from our website.
