Valuable Real Estate For Sale At Online Auction
Closing May 1, 2024 @ 1:00 PM
145.7± acres of land along Old Hall Ridge Rd, Stuart VA 24171
This property is located on Bull Mountain in Patrick County VA and being offered in six separate tracts ranging in size from 7 acres to 45 acres. The property features world class panoramic views, multiple springs and streams, abundant wildlife and recreational opportunities, interior roads, and potential cabin or home sites on each tract. Even more recreational options are nearby with less than 10 miles to Fairystone State Park and Philpott Lake, 20 miles to the Blue Ridge Parkway and Meadows of Dan, and convenient access to the nearby towns of Stuart, Basset, and city of Martinsville VA.
This is an online only auction held in partnership with Mountain Valley Auction Group and is being hosted on their website.
Click the "Bid Online" button to go to Mountain Valley Auctions. You will need to create an account on Mountain Valley Auction Group's website in order to bid.
If you are looking for secluded mountain property with breathtaking views and plenty of wildlife where you can build your cabin or getaway home, then you have found the right place. The only sounds you are likely to hear are gurgling mountain streams, the wind stirring the leaves, and songbirds adding their melody. If hunting is your thing, this property offers a diverse habitat of new growth pines, mountain laurel, and mature hardwoods that provides excellent location for wildlife. Enjoy the freedom of the outdoors and and the freedom of owning your own property with no HOA restrictions or zoning. Access is provided by a network of private roads with a maintenance fee of $125 per year. Electricity is available on and near the property or you could build an off the grid cabin if that suits your style better.
Click Here For An Overview Video Of The Property
Tract #1 - is 20.888 +/- acres located along Old Hall Ridge Rd beginning about 1500 ft southwest of the intersection with Foley Ridge Rd. Old Hall Ridge Rd is a 50 ft right of way. This tract includes property on both sides of Old Hall Ridge Rd. Pole Branch is a year round stream that flows along the boundary of this tract. A number of potential cabin or home building sites are available and interior roads have been cleared. Appalachian Power overhead electric lines cross the lower edge of the tract along the road. This property features ideal wildlife habitat with mature hardwoods along with some new growth pines and mountain laurel thickets. New survey has just been completed and boundary lines are cut and flagged. This tract is a part of the proposed and approved division of the original 138.739 acre tax map parcel ID # 4914-97.
Tract #2 - is 24.837 +/- acres along Old Hall Ridge Rd beginning about 3,500 southwest of the intersection with Foley Ridge Rd. Old Hall Ridge Rd is a 50 ft right of way. Pole Branch is a year round stream that flows through this tract. Two potential cabin or home building sites have been cleared along with an interior road to provide access. Appalachian Power electric overhead lines are just a few hundred feet from the property boundary. This property features ideal wildlife habitat with mature hardwoods along with some new growth pines and mountain laurel thickets. New survey has just been completed and boundary lines are cut and flagged. This tract is a part of the proposed and approved division of the original 138.739 acre tax map parcel ID # 4914-97.
Tract #3 - is 12.910 +/- acres along Mullies Mountain Lane beginning about 3,000 ft from the Foley Ridge Rd and Wagoner Rd intersection. Mullies Mountain Lane is a 25 ft right of way. This tract features nearly 360 degree mountain views from a clearing along the road. This fairly level clearing has great potential for a cabin or home building site. The nearest Appalachian Power electric overhead lines are approximately 2,000 feet from the property boundary. This property features ideal wildlife habitat with mature hardwoods along with some new growth pines and mountain laurel thickets. New survey has just been completed and boundary lines are cut and flagged. This tract is a part of the proposed and approved division of the original 138.739 acre tax map parcel ID # 4914-97.
Tract #4 - is 34.994 +/- acres along Mullies Mountain Lane beginning about 4,500 ft from the Foley Ridge Rd and Wagoner Rd intersection. Mullies Mountain Lane is a 25 ft right of way. This tract features nearly 360 degree mountain views from a clearing along the road. This fairly level clearing has great potential for a cabin or home building site. Pole Branch is a year round stream which finds its headwaters on this tract. The nearest Appalachian Power electric overhead lines are approximately 3,500 feet from the property boundary. This property features ideal wildlife habitat with mature hardwoods along with some new growth pines and mountain laurel thickets. New survey has just been completed and boundary lines are cut and flagged. This tract is a part of the proposed and approved division of the original 138.739 acre tax map parcel ID # 4914-97.
Tract #5 - is 45.111 +/- acres at the end of Mullies Mountain Lane beginning about 5,200 ft from the Foley Ridge Rd and Wagoner Rd intersection. Mullies Mountain Lane is a 25 ft right of way. The upper boundary of this tract is very near the top of Bull Mountain at an elevation of approximately 2,700 ft. There is a fairly level clearing at the end of the road which has great potential for a cabin or home building site. The nearest Appalachian Power electric overhead lines are approximately 4,200 feet from the property boundary. This tract has some steep and rugged terrain in its upper reaches but the views are amazing to the west and north. This property features a number of springs which feed the Pole Branch along with ideal wildlife habitat composed of mature hardwoods, new growth pines, and mountain laurel thickets. New survey has just been completed and boundary lines are cut and flagged. This tract is a part of the proposed and approved division of the original 138.739 acre tax map parcel ID # 4914-97.
Tract #6 - is 6.991+/- acres along Mullies Mountain Lane beginning about 3,800 ft from the Foley Ridge Rd and Wagoner Rd intersection. Mullies Mountain Lane is a 25 ft right of way. This tract features nearly 360 degree mountain views from a clearing along the road. This fairly level clearing has great potential for a cabin or home building site. The nearest Appalachian Power electric overhead lines are approximately 2,800 feet from the property boundary. This tract features mostly new growth pines and grass has just been seeded on the cleared areas. New survey has just been completed and boundary lines are cut and flagged. This tract is the original 6.991 acre tax map parcel ID # 5014-213.
This property comes with a recent survey which will be recorded after the auction and before closing. If you purchase more than one of these tracts and wish to keep them combined on the same tax map # we will accommodate that by not recording the new line between your tracts. The exception being the 6.99 acre tract #6 which is already a separate tax map parcel.
The bidding for all of these tracts will close at 1:00 PM May 1, 2024 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. If you wish to buy more than one tract, you will need to be the final high bidder on all the tracts you wish to purchase.
Property Tour Dates: Please do not walk or drive on the property unattended. We have two scheduled property tour dates: March 23 from 1-4 PM and April 22 from 1-4 PM. If you would like an agent to show you the property at some other time or answer any questions you may have please Call Linford Berry (Auctioneer/Agent) at 540-476-3309 VAFL 1028 or Keith Gunter (Auctioneer/Agent) 276-952-5281 VAAL #2 for more information or for an appointment to tour the property.
Property Highlights:
Panoramic Views From Upper 4 Tracts
New Growth Pine and Hardwood Timber
Abundant Wildlife
Mountain Streams and Springs On Tracts # 1, 2, 4 and 5
Potential Cabin or Home Building Sites on Each Tract
Overhead Electric Lines Across Tract #1 and Near Tract #2
New Survey With Boundary Marked and Approved Division
Interior Roads
Road Access To Each Tract On 50 Ft or 25 Ft Right Of Way
No Restrictions Or Zoning
$125 Per Year Road Maintenance Fee
Less than 10 miles from Fairystone State Park and Philpott Lake
Additional Information Can Be Found By Clicking The “Bid Online” Button
Terms and Conditions:
This property is being sold subject to seller confirmation with a starting bid of $5,000 per tract.
WE GUARANTEE A FREE AND CLEAR DEED 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.
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 $5,000 non-refundable deposit per tract due the day of the auction (within 24 hours for online bidders at a distance) and the balance due at closing on or before 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. Closing will take place at Appalachian Title Company Inc, Stuart VA.
Financing can be obtained for the property, but the sale is not contingent upon obtaining financing.
All information provided by Mountain Valley Auction Group 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 under the photo
Note For Real Estate Agents: Preapproved (No later than 5:00 PM on April 10) buyers agent participation will be compensated. Click Here For Form
Contact:
Linford Berry, Mountain Valley Auctions (Auctioneer/Agent)
540-476-3309
VAFL 1028
Keith Gunter, Rogers Realty & Auction Co. (Auctioneer/Agent)
276-952-5281
VAAL #2
Real Estate Auction Terms Of Sale:
This auction is conducted by Mountain Valley Auction Group LLC and Rogers Realty and Auction Co Inc (Auctioneer) on behalf of the owners of the property referred to as the (Seller). Auctioneer is not responsible for the acts of the Seller or statements made by the Seller before, during, or after the auction. The auction shall be governed by the terms set forth herein and any announcements made at the auction. The act of submitting a bid shall constitute Bidder’s acceptance of each and every term and condition contained in these terms and conditions and shall form a binding contract of intent to purchase between the Bidder and the Auctioneer. All persons attending the auction and inspecting the property assume all risks whatsoever of damage or loss to person and property and specifically release the Auctioneer from all liability. Auctioneer is not liable by reason of any defect in, or condition of, the property or the premises on which the preview/sale is held. Auctioneer is released for any claims or actual damage to the property sold and/or consequential damages that may result from the sale of defective property.
PAYMENT TERMS:
A signed contract and a nonrefundable deposit of $5,000 for each tract is required from the high bidder(s) immediately after confirmation of final bid and the balance due at closing on or before 45 days (unless prior arrangements have been made with the auctioneer). Closing will be at the offices of Appalachian Title Company Inc, Stuart VA. Deposit must be in the form of a wire transfer or check drawn on a US bank. The signed contract and nonrefundable deposit is due within 24 hours of the auction ending unless other arrangements have been made with Auctioneer prior to the close of the auction. Title shall to be delivered free of all liens or encumbrances as more specifically set forth in the Sale Contract. All settlement and closing costs will be the responsibility of the buyer and the property taxes will be prorated as of the day of settlement.
BUYER’S PREMIUM:
A 10% buyer’s premium will be added to the final bid to become part of the purchase price at settlement. Buyer agrees to these provisions and will pay the applicable buyer’s premium.
DISCLOSURES/NO WARRANTY:
There is no warranty offered, expressed or implied, by Auctioneer or Seller for any property. All property is sold AS-IS, WHERE-IS, and with all faults and defects therein. ALL SALES ARE FINAL and are not contingent on any financing, appraisal, or inspections. All inspections of the property must be done before the auction. Closing must be within 45 days and time is of the essence. All information provided is believed to be correct but NO warranty as such is either expressed or implied, including but not limited to the warranty of merchantability or fitness for a particular purpose. Bidder is solely responsible to determine condition, value or any other determinative factors. The Auctioneer strongly encourages bidders to attend preview/property tours and retain the services of building inspectors or other professionals in order to determine the value and condition of the property.
BIDDER REGISTRATION:
By registering and bidding, Bidder acknowledges that they have read and agree to the terms and conditions of this auction. Bidder agrees to sign the contract of sale and other documents related to the transaction, pay the earnest money deposit and close the transaction within 45 days if their winning bid is accepted. Bidder must be 18 years of age or older and is required to register for the auction. In registration, Bidder must submit information found to be current, complete and accurate for proper identification by Auctioneer. Bidder’s registration is not transferable or assignable. Auctioneer reserves the right to deny or restrict any bidders registration with or without cause. Bidder must register to participate in the auction. If you have any questions, please call the auctioneer at 540-476-3309.
BIDDING:
Using YOUR knowledge and experience, form your own opinion of the property and bid accordingly. If you are in doubt, DO NOT BID. The property is sold AS-IS; this is an AUCTION and all SALES ARE FINAL. Bids cannot be retracted and are binding contracts between Bidder and Auctioneer/Seller. Bidder is accountable to be informed about property and associated costs before bidding. A maximum bid can be placed on the property in the online bidding interface. A maximum bid is kept confidential. Except for properties noted “Absolute Auction,” all properties in auctions will be sold subject to seller confirmation or will have a pre-established minimum Reserve Price. The starting bid is not the Reserve Price. Except where prohibited by law, Auctioneer may counter bid on behalf of Seller on any property up to the amount of the Reserve Price (and no such bid will result in a sale of the property). If the Reserve Price is not met, Seller is under no obligation to sell the property; however, Seller may accept a bid that is below the Reserve Price in its sole discretion.
BIDDER VERIFICATION & QUALIFICATION:
The identity of all bidders will be verified prior to participation. The Auctioneer may require a proof of funds letter be submitted prior to bidder participation. A credit card is required to register for online bidding. No charges will be made to your card unless you are determined to be the winning bidder and you fail to execute the Contract of Sale and pay the required earnest money deposit. At the discretion of the Auctioneer, a penalty of $1,000.00 will be charged to the credit card provided at registration if you fail to return the signed Contract of Sale and pay the required earnest money deposit within the required time period. Payment of the penalty shall not affect other remedies available to the Seller for such failure.
BROKER COMPENSATION:
Preapproved (No later than 5:00 PM the day before the auction ends) 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. To qualify for a commission, the agent must first register his/her self and client with the Auctioneer at least 24 hours prior to the close of auction. Brokers only receive commission when they represent a client, not if they themselves are the client. Commissions will be paid only after closing and after the Auctioneer has been paid in full. Agents are not required to attend the closing but must attend the auction with their client and/or visit the property with their client during the marketing period. Agents must have client's permission to register him/her for the auction. Agents may not register people who are not actually their clients. If an agent has not met all of these requirements, no commission will be paid to the cooperating agent, even if the agent's client purchases the property. Under no circumstances whatsoever will any commission be paid if the sale does not close for any reason.
