BANKRUPTCY COURT APPROVED:
Trustee Foreclosure
ABSOLUTE AUCTION
The Jefferson House
113 - 115 N. Jefferson Street,
Staunton, Virginia
Wednesday, August 18th at 12:00 noon
Previews: August 4th and August 11th
10:00 a.m. to 2:00 p.m. or weekends by appointment only
Building Size: 2,598 sf
Lot Size: .092 acres
Tax Assessed Value: $318,750.00
2 Story Frame - 4 Unit Quadplex
Unit 1: 1 Bedroom, 1 Bath, Parlor/Sitting Room, WetBar
Unit 2: 1 Bedroom, 1 Bath, Parlor/Sitting Room, Wet Bar
Unit 3: 1 Bedroom, 1 Bath, Parlor/Sitting Room, Wet Bar
Unit 4: 1 Bedroom, 1 Bath, Parlor/Sitting Room, Wet Bar
Jefferson House
This 1860's railroad style house has been completely restored into four large suites. Each suite has private bath, fireplace, wet bar area, and has a separate sitting room from the bedroom and is furnished with period antiques. Each suite has its own deck or porch overlooking the Victorian garden area, just steps away from the Old Inn building and restaurant. All suites have telephone, TV, gas log fireplace, queen size beds and remote internet access.
Jefferson House presently accommodates 4 suites each with bedroom, bath, wet bar kitchen and private deck. This can easily be converted to a single family residence with a modification of the 20 x 15 prep kitchen on the Garden Level to an awesome state of the art family kitchen with garden dining area.
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 the Substitute Trustee will sell 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.
