Documents:
Survey (PDF format)

Directions:
Auction Sale Site: John W. Elkins & Company Auction Gallery, 1138 Ayers Road, Glade Hill, Virginia 24092 Sale Site Directions: From Rocky Mount, Va.: Take route 40 east for 8 miles and turn left on Ayers Rd. Proceed 1.1 miles to Auction Gallery on your right. From Gretna, Va.: Take route 40 west for 25 miles and turn right on Ayers Rd. and the Auction Gallery is 1.1 miles on your right.

Sale 1 Property Address: 2463 Morgan’s Fork Rd, Penhook, Va. 24137 Sale 1 Directions: From Route 40 (Old Franklin Rd.) at Penhook, Va. (Approximately 14 miles west of Gretna, Va. and 18 miles east of Rocky Mount, Va.), turn north on the Morgan’s Fork Rd. and proceed 2.1 miles to the property on the left.

Additional Properties:
Sale 2: 17± acre waterfront Long Horne Drive property (2:30 PM) - click for more information

Sale 3: 3 Waterfront Lots Boardview Estates, Franklin County - Pre-development opportunity, 1 Waterfront lot, Waterford, Bedford County (3:30 PM) click for more information

Broker Participation:
Any broker actively licensed in the Commonwealth of Virginia whose agent properly registers the successful high bidder will be paid a two percent (2%) commission at settlement by the seller. Registration must be on a Woltz & Associates, Inc. Broker Participation Application form and contain the name, address and signature of agent and prospect as well as Broker’s license number and Federal Tax ID number. The form must be received in the office of Woltz & Associates, Inc. by 12:00 noon on April 4, 2008. If prospect attends preview, agent must attend with prospect. Additionally, agent must attend sale and co-register with prospect on auction day. Only the first broker to register the high bidder will be paid a commission. Agents acting as principals, on behalf of licensed real estate agents, on behalf of family members, on behalf of entities in which they hold an ownership interest or who represent prospects who have had prior contact with seller or auction company are not eligible. Only one registered bidder per agent. Broker Participation Form (PDF format)

Auction Terms & Conditions:
REGISTRATION: Bids will be accepted only from registered bidders. Registration begins at 11:00 a.m. Please bring a driver’s license for identification.
TERMS OF SALE: Sale 1: All properties will be sold without reserve but subject to final approval by the Franklin County Circuit Court. All sales are final. Sale 2: Properties will be sold subject to seller confirmation. All confirmed sales are final. All property is sold “AS IS, WHERE IS.” Potential bidders should perform such independent inspection, investigation, inquiries and due diligence with respect to the property as they deem necessary or appropriate.
ANNOUNCEMENTS: Announcements on day of sale take precedence over all prior releases, verbal and written, concerning this sale.
BIDDING PROCEDURE: Qualified bidders may bid on individual tracts, any grouping of tracts or on the whole property. Properties from Sale 1 and Sale 2 will not be combined. The auctioneer will determine all bid increments. All decisions by the auctioneer are final.
BUYER’S PREMIUM: A Buyer’s Premium will be charged. The Buyer’s Premium is five percent (5%) of the high bid amount. The Buyer’s Premium is added to the high bid amount to determine the sale price.
DEPOSIT: A deposit in the amount of ten percent (10%) of the sale price (high bid plus BUYER’S Premium) will be required on day of sale. The deposit is payable by cash, cashier’s check, or pre-approved personal check made payable to Woltz & Associates, Inc. Escrow Account. Personal checks will be approved if the Buyer presents, at time of registration, a letter from its bank stating that the Buyer is a customer of the bank and that the account on which the check is drawn is in good standing.
CLOSING DATE: The balance of the purchase price is due at settlement on or before May 6, 2008
LEAD PAINT: The residential property in Sale 1 was built prior to 1978 and may contain lead-based paint. A lead-paint inspection may be performed by bidders prior to the auction sale date. Applicable lead paint documents and information are available from Auction Company. Bidders will be provided a lead-paint disclosure prior to signing a real estate purchase agreement and agree to waive the ten (10) day right to inspection after the auction sale.
POSSESSION: Possession of the property shall be given at closing.
TRANSFER OF TITLE: The real estate from Sale 1 will be conveyed by special warranty deed free and clear of liens subject, however, to any rights of way, easements, restrictions and covenants of record. The real estate from Sale 2 will be conveyed by general warranty deed free and clear of liens subject, however, to any rights of way, easements, restrictions and covenants of record.
AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLERS.
BIDDER PACKETS: Bidder Packets will be available at the previews and online.
BOUNDARY LINES: Boundaries shown on aerial photographs and topographical maps, which are provided by Auction Company as a courtesy to bidders, are approximate. Bidders should refer to the surveys provided in the Bidder Packet for boundary locations.
WEB SITE: Please visit www.woltz.com for additional photos and information about the property.
GENERAL: The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, error, or omissions is assumed by the Seller or the Auction Company.