Online Real Estate Auction
Bidding Closes Tuesday, January 21st at 11AM
1105 Belle Isle Dr 24176
Location! Location! Location!
This beautiful property located on Smith Mountain Lake, VA is a rare find!
Nearly 260 +/- ft of water frontage and a generous 1800 +/- sq ft floor plan, this property has so much to offer.
- Gorgeous flat lot with stunning views of Smith Mountain Lake
- Covered Dock
- Brick Siding
- 2-Story Floorplan
- Excellent Location
This property is being sold subject to seller confirmation with a starting bid of $350,000
The bidding for this property will close Tuesday, January 21st at 11AM with a two-minute auto extend. This means that if a bid is placed within the last two minutes the bidding will be extended for an additional two minutes.
Property Tours:
Shown By Appointment Only
Call Phillip Via, CAI (Auctioneer) to schedule a private showing (540) 312-8569
Terms & Conditions:
We guarantee a free & clear title to the property.
This property is being sold in AS-IS condition with no financing/appraisal/inspection contingencies. Bidders are strongly encouraged to inspect the property themselves and/or 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. We have provided a home inspection for you to review. Please keep in mind this inspection is for the purposes of the auction company and can not be transferred.
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).
Payment Terms: Payment will be in the form of Cash or Cash Equivalent with a $10,000 non-refundable deposit due the day of the auction (by 5PM) and the balance due at closing on or before 30 days. Deposit will be applied to the purchase price at closing. Please do not bid if you are not able to close within 30 days.
Financing may be obtained for the property, but the sale is not contingent upon buyer obtaining financing.
All information provided by Lucky Dog Auction & Realty Inc was obtained from sources believed to be reliable but are not guaranteed. Buyer shall rely on their own information, judgment, and inspection of the property.
View the sample purchase agreement and complete terms under the "Docs" tab or drop down menu at the top of the page under the photo.
Realtors/Brokers - You must be preapproved no later than 5PM on Saturday, January 18th . Buyers agent participation will be compensated. Please click on the Documents tab to review the form.
Auction Bidders Agreement
Buyer agrees to immediately enter into the Real Estate Auction Purchase Contract (winning bidder) by the auctioneer for the real property located at: Belle Isle Drive Union Hall, VA 24176 Tax Map: 0510200100
AUCTION LOCATION – Online at LuckyDogAuction.com
AUCTION DATE – Monday, January 20th at 11AM (EST). Each bid received within the last 2 minutes of the auction ending will initiate an automatic extension of bidding for an additional 2 minutes, allowing for additional bids until the close of auction. See Paragraph 16 that addresses the “SOFT CLOSE”.
AUCTIONEER – Phillip Via (Auctioneer) License # 2907004428 of Lucky Dog Auction & Realty, INC located at 770 Cornell Road Rocky Mount, VA 24151 (540-312-8569) has contracted with “Seller” to offer to sell at public auction certain real property.
Online Bidding Open NOW – Online Bidding Begins to Close on Monday, January 20th at 11AM (EST) Bidder agrees that they have read and fully understand the Online Auction Bidders Agreement and the Terms and Conditions of this auction.
It is solely the bidders’ responsibility to contact the auction company at (540) 312-8569 with any questions regarding the auction, purchase agreement, or terms & conditions, prior to placing any bids in said auction.
Online Auction Terms & Conditions:
1) Seller Confirmation Auction: The property is being offered in an online auction and sale is subject to seller confirmation.
2) Bidding Registration: Online bidder hereby agrees that they must be properly registered for the online auction. If you need assistance with registration, contact Janice Via at (540) 493-1554 or Phillip Via (540) 312-8569 or by email at Phillip@LuckyDogAuction.com. Seller(s) or Auctioneer may at their sole discretion request additional registration requirements from any bidder unknown to them or the auction company.
3) Bidding Opens/Closes: The Online Only Auction bidding shall be opened and begin closing on the dates and times stated above, subject to the soft close feature as outlined below in (#16).
4) Property Preview Dates: It is highly recommended that all bidders personally inspect the property prior to placing any bids in the auction. Property inspections are the sole responsibility of the bidders. The property may also be inspected by scheduling an appointment with Lucky Dog Auction & Realty (540) 312-8569.
5) Cash Offer/ Financing Contingency: By participating in this auction, bidders hereby agree that their bid shall NOT be subject to the bidder’s ability to obtain financing. By placing a bid in this auction, bidders are making a “cash offer” to purchase the property. Financing is NOT a contingency in the purchase agreement. However, if a bidder decides to purchase property with a loan, they should make sure they are approved for a loan and that lender is capable of completing on or before closing date. Should a buyer default by not obtaining financing they will not be granted a refund of their deposit. There will be no Buyer conditions or contingencies to the sale of the Real Property, except that Seller must deliver good and marketable title.
6) Buyer’s Premium: A Ten Percent (10%) Buyer’s Premium shall be added to the winning bid price which will determine the Total Contract Sales Price. Bidders hereby understand that the Buyer’s Premium shall be added to the winning bid to create the Total Contract Sales Price for which they are obligated to pay for the property. Example: (winning online bid $100,000 + 10% buyer’s premium = total purchase price of $110,000).
7) Purchase Contract: Winning bidder hereby agrees to enter into the Real Estate Auction Purchase Contract which has been approved by the Seller, immediately upon being declared the Successful Bidder by the Auctioneer. Upon the close of the auction the winning bidder will complete an Auction Real Estate Sales Contract to purchase the property. A signed copy of the Auction Real Estate Sales Contract must be received by Lucky Dog Auction and Realty no later than 24 hours from the time said Purchase Contract was sent to the winning bidder. The Auction Real Estate Sales Contract may be e-signed, hand delivered, or scanned and emailed. A sample purchase contract is available for review online prior to placing any bids in the auction.
8) Earnest Money Deposit: A $10,000 non-refundable deposit will be wire transferred or hand delivered in the form of certified funds to Lucky Dog Auction & Realty no later than 48 hours following the close of auction. See closing agents contact information below. The balance of the purchase price will be due in full at closing.
9) Closing: Preliminary Title Search is complete to ensure a smooth closing without delay. Title search available upon request.
10) Easements: The sale of the property is subject to any and all easements of record.
11) Survey: No survey is required to transfer title to the property and the Seller(s) shall not provide any additional survey. If the Buyer desires a survey, it shall be at the Buyer’s sole expense and shall not be a contingency or requirement in the purchase contract.
12) Possession: Possession of the property will be given upon payment in full of the purchase price and transfer and recording of title, at closing.
13) Deed: Seller shall execute a general warranty deed conveying the property to the buyer(s).
14) Taxes: Seller shall pay any previous year’s taxes (if due), and the current year’s real estate taxes shall be prorated to the date of closing.
15) Online Auction Technology (Disclaimer): Under no circumstances shall Bidder have any kind of claim against Lucky Dog Auction & Realty, INC if the Internet service fails to work correctly before or during the auction. Online bidding is subject to technology faults and issues which are outside the control of the auction company. Bidder(s) are encouraged to use the “Maximum Bid” feature on the bidding platform and lock in their maximum bid amount if they are concerned about technology failure during the auction or attend the auction in person if possible. The SELLER and/or Auction Company reserves the right to (pause) the online auction bidding in the event of any internal or external technology failure, to preserve the integrity of the auction event and maintain a fair and impartial bidding environment.
16) Soft Close: If a bid is received within the last 2 minutes of the auction, the auction close time will automatically extend 2 minutes to allow other bidders an opportunity to competitively bid prior to the auction closing. This feature eliminates "snipers" and encourages fair and impartial bidding from all participants. Bidding will remain open until no bids have been placed within the last 59 seconds.
17) Disclaimer: All information provided is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All information to be verified by Buyers and or Buyer’s Agents. All lines drawn on maps, photographs, etc. are approximate. Buyers should verify the information to their satisfaction. Information is subject to change without notice. There are no warranties either expressed or implied pertaining to this property. Real estate is being sold "As-Is, Where-Is" with NO warranties expressed or implied. Please make all inspections and have financing arranged prior to the end of bidding.
By participating in this auction, Buyers hereby acknowledge that any bid(s) placed by them is a binding agreement to purchase the property, subject to the bid being approved by Seller.
18) Buyer’s Broker Fee: Buyer's agent must contact the Auction company, submit a Broker Participation Form signed by the buyer, and register the buyer 48 hours prior to the auction date. If these steps have not been completed, no broker participation fee will be paid.
19) Recording Fees: Buyer will pay the fees for recording the deed for the Real Property.
20) Settlement Fees and Expenses. Buyer will pay any and all settlement fees and expenses, including, without being limited to, title searches, title insurance charges, and survey costs.
21) Apportionment. Taxes and all other periodic realty costs, if any, will be apportioned pro rata as of the date of the Realty Closing. Seller will pay for all days up to and including the date of the Realty Closing, and Purchaser will pay for all days following the date of the Realty Closing.
22) Zoning; Land Use. It will be the responsibility of each Bidder to make such inquiries and investigations as may be necessary to confirm the applicable zoning and land use restrictions affecting the Real Property. The purchase of the Real Property will not be contingent in any way on zoning or land use restrictions, or on whether the Buyer may put the Real Property to any desired use. Notwithstanding the foregoing, any representations or statements made by or on behalf of Seller with respect to applicable zoning and land use restrictions are true and correct to the best of Seller’s knowledge and belief.
