Hampton, VA Real Estate Auction Back to Auction Calendar

To Register for Online Bidding 

(For Live Bidding:  Registration starts 11:00 AM Onsite at 2015 W Pembroke Ave, Hampton, VA 23661)

Announcements

Location: Hampton, VA
Seller: LCM Corporation
Date: 11/13/24

A. Welcoming remarks.

1. On behalf of Woltz & Associates I want to welcome you all here today for the sale of this exceptional property located here in Hampton, VA.

2. Our company is Woltz & Associates, Inc., located in Roanoke Virginia. We are real estate brokers and auctioneers licensed in 17 states. We sell large land tracts as well as commercial, industrial, residential real estate and a variety of other types of property.  We invite you to visit our web site, www.woltz.com, to view our auction calendar and current real estate listings or call our 800 number to be placed on a mail list to receive auction brochures by mail.  You can also sign up for auction notices by e-mail on our web site.
   

3. We want to begin by thanking Lawrence Musgrove, President of LCM Corporation for the opportunity to offer this property at auction. This property offers an incredible opportunity for its next owner to develop 10 acres of commercial land with frontage on two main corridors.

4. We want to thank Martha Boush with Acquisition Title & Settlement for the preparation of the title commitments.

5. Participating Brokers: We welcome the real estate agents who are here today utilizing our broker participation program. Please remember to stay until the end of the auction to sign the real estate purchase agreement if your registered bidder is the successful high bidder today. 

B. BIDDING PROCEDURES:

1. We are selling to registered bidders only. So, if you have not gotten a bidder card, please RAISE YOUR HAND AND WE WILL GET YOU REGISTERED.

2. This auction is a one-time opportunity, so don’t miss your chance to own this exceptional tract of commercial land. Watch the auctioneer and his bid assistants.  They will take your bid and will assist you with any questions you have about the bidding.

4. Your bidding is not conditioned upon your obtaining financing, so before bidding you should have arranged financing. You must be capable of paying cash at closing.

5. Minimum bid increments are at the discretion of the auctioneer

C. TERMS OF SALE:

1. AUCTION SALE: The Property will be sold subject to Seller’s confirmation of the high bid and Bankruptcy Court Order. Purchaser will execute the Auction Real Estate Purchase Agreement as required in Paragraph 2. The property is auctioned “AS IS, WHERE IS” with all faults in its condition at the time of sale without recourse by way of refund, reduction of the purchase price, or otherwise. Bidders should perform such independent investigation with respect to the property as they deem necessary or appropriate. Bidding signifies you have read and are in agreement with the terms and conditions of the auction.
   Secured creditor has the right to bid on their own behalf in order to protect their lien on the property.
2. REAL ESTATE DEPOSIT: The Buyer is required to pay a deposit in the amount of ten percent (10%) of the contract sales price and sign an Auction Real Estate Purchase Agreement immediately following SELLERS acceptance of the bid. Buyer may wire funds ($25.00 wire fee), use a personal check with a bank letter, or present a cashier’s check for the earnest money deposit.
3. ANNOUNCEMENTS: Announcements on day of sale take precedence over all prior releases, verbal and written, concerning this auction sale.
4. FINANCING: Your bidding and purchase of the property are NOT CONDITIONAL UPON FINANCING. Be sure you have arranged financing, if needed, and are capable of paying cash at settlement.
5. LIABILITY: Bidders inspecting property enter at their own risk. Auction Company and Seller assume no risk for bodily injury or damage to personal property.
6. BUYER’S PREMIUM: The Buyer’s Premium on the real estate is five percent (5%)of the high bid amount. The Buyer’s Premium will be added to the high bid to determine the final contract sales price.
7. AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLER.
8. REAL ESTATE DEED AND POSSESSION: The real estate will be conveyed by a Special Warranty deed to be prepared at the expense of the Seller and the cost of Virginia deed transfer tax shall be borne by the Seller. It is agreed the Property is being conveyed free and clear of liens; subject, however, to any rights of way, easements, and restrictions of record. The balance of the purchase price is due at settlement which shall be on or before December 19, 2024. The contract to purchase is not assignable. Possession of the Property shall be given to the buyer at settlement.
9. BOUNDARY LINES: Boundaries on aerial photos, topographic maps, and otherwise, are approximate and are subject to verification by all parties relying on them.
10. BIDDING: The bidding is hereby offered to registered bidders only. Registration for on-site opened at 11:00AM today.
11. CONFIRMATION: The auction tract is sold subject to Seller Confirmation.
12. GENERAL: The information contained in the brochure, on woltz.com, all advertising, and the Bidder’s Information Packet 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.
13. BROKER PARTICIPATION: Any appropriately licensed Virginia broker whose agent properly registers the successful high bidder will be paid a 2% commission based upon the contract sales price, and will be paid at settlement by the Seller. Applications 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 the Broker’s license number and Federal Tax ID number. The form must HAVE BEEN received in the office of Woltz & Associates, Inc. or by email at hannah@woltz.com no later than 12:00pm, November 12, 2024. Participating Broker must sign the Real Estate Purchase Agreement for winning bid. Agents acting as principals buying on their own behalf, on behalf of family members, other licensed real estate agents, or who represent prospects that have had prior contact with the Seller or Auction Company are not eligible. An agent may register and represent only ONEBidder for this auction.

D. THE BIDDER’S PACKET
(list each page of the packet with a brief description)

• Brochure
• Maps: Aerial, Topo, Survey
• Water & Sewer Map
• GIS Card
• Terms & Conditions
• Purchase Agreement

 E. ADDITIONAL COMMENTS/DISCLOSURES ABOUT THE PROPERTY OR AUCTION.

Thank you for your interest in this auction.  If you have any questions, please feel free to talk to one of our representatives.

SELL THE PROPERTY

Hampton, VA Real Estate Auction

Registration Opens at 11:00 AM

10.73± Acres
Zoned C-3
Assessed Value: $708,100 per GIS

Live and Online Auction held at the property on Wednesday, November 13 at Noon. This is a great opportunity to own 10.73± acres of commercially zoned (C-3) land with road frontage on two premier roads in Hampton, VA (136′ on W Pembroke & 435′ on G Street). Property has potential to serve multiple businesses making it an ideal location for investors. Public water available along W Pembroke, Sewer available along W Pembroke & G Street. See Water/Sewer Map, Survey, Wetlands Delineation, Tax Card and Aerial/Topo Maps under documents. Property will be sold at auction, brokerage representative will be onsite for property preview on 10/25 from Noon to 4PM. Vacant land – preview at your convenience. Contact listing agents with any questions about the auction process.

Schools

Bassett Elementary
Lindsay Middle
Hampton High

Directions

From Downtown Hampton: Take Settlers Landing Road heading west for 1.2 miles. Turn left on W Pembroke Ave. Travel 1.9 miles. Property will be on your left. Property can also be accessed from G St – take left onto G St by Sunoco Gas station and property will be on your right. See signs.

TERMS & CONDITIONS OF AUCTION
LIVE & ONLINE

A1031 – LCM Corporation, Bankruptcy Auction
November 13, 2024, 12:00pm
2015 W. Pembroke Ave. Hampton, VA 23661

1. AUCTION SALE: The Property will be sold subject to Seller’s confirmation of the high bid. Purchaser will execute the Auction Real Estate Purchase Agreement as required in Paragraph 2. The property is auctioned “AS IS, WHERE IS” with all faults in its condition at the time of sale without recourse by way of refund, reduction of the purchase price, or otherwise. Bidders should perform such independent investigation with respect to the property as they deem necessary or appropriate. Bidding signifies you have read and are in agreement with the terms and conditions of the auction. 
2. REAL ESTATE DEPOSIT: The Buyer is required to pay a deposit in the amount of ten percent (10%) of the contract sales price and sign an Auction Real Estate Purchase Agreement immediately following SELLERS acceptance of the bid. Buyer may wire funds ($25.00 wire fee), use a personal check with a bank letter, or present a cashier’s check for the earnest money deposit.
3. ANNOUNCEMENTS: Announcements on day of sale take precedence over all prior releases, verbal and written, concerning this auction sale.
4. FINANCING: Your bidding and purchase of the property are NOT CONDITIONAL UPON FINANCING.Be sure you have arranged financing, if needed, and are capable of paying cash at settlement.
5. LIABILITY: Bidders inspecting property enter at their own risk. Auction Company and Seller assume no risk for bodily injury or damage to personal property.
6. BUYER’S PREMIUM: The Buyer’s Premium on the real estate is five percent (5%) of the high bid amount. The Buyer’s Premium will be added to the high bid to determine the final contract sales price.
7. AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLER.
8. REAL ESTATE DEED AND POSSESSION: The real estate will be conveyed by a Special Warranty deed to be prepared at the expense of the Seller and the cost of Virginia deed transfer tax shall be borne by the Seller. It is agreed the Property is being conveyed free and clear of liens; subject, however, to any rights of way, easements, and restrictions of record. The balance of the purchase price is due at settlement which shall be on or before December 19, 2024. The contract to purchase is not assignable. Possession of the Property shall be given to the buyer at settlement.
9. BOUNDARY LINES: Boundaries on aerial photos, topographic maps, and otherwise, are approximate and are subject to verification by all parties relying on them.
10. BIDDING: The bidding is hereby offered to registered bidders only. Registration for on-site opens at 11:00AM on the day of sale.
11. CONFIRMATION: The auction tract is sold subject to Seller Confirmation.
12. GENERAL: The information contained in the brochure, on woltz.com, all advertising, and the Bidder’s Information Packet 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.
13. BROKER PARTICIPATION: Any appropriately licensed Virginia broker whose agent properly registers the successful high bidder will be paid a 2% commission based upon the contract sales price, and will be paid at settlement by the Seller. Applications 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 the Broker’s license number and Federal Tax ID number. The form must be received in the office of Woltz & Associates, Inc. or by email at hannah@woltz.com no later than 12:00pm, November 12, 2024. Participating Broker must sign the Real Estate Purchase Agreement for winning bid. Agents acting as principals buying on their own behalf, on behalf of family members, other licensed real estate agents, or who represent prospects that have had prior contact with the Seller or Auction Company are not eligible. An agent may register and represent only ONE Bidder for this auction.