5279 Homegrown Lane , Zuni, VA 23898(Isle of Wight County)

This property was once a group home for adults with intellectual disabilities as well as supervised independent living apartments. This campus at its peak housed 48 residents. In addition to the group housing, this property was the processing and distribution site for the Zuni Gourmet Peanuts. Currently most of the tillable land is being leased. The State Natural Area Preserve joins the property.

One vinyl sided and four brick apartment buildings were used for adult housing. There are brick and block buildings used as the cafeteria, a recreational hall and administration. The pond and swimming pool offered a recreational outlet for residents. Paved roads and parking are found throughout the campus. There is potential for more bed capacity under Virginia Law than was previously used by the Presbyterian Homes and Family Services and plenty of room for expansion on the 119 acres.

TRACT 1: 75 acres and campus buildings

TRACT 2: 23 acres of agricultural land with metal shop and wooden barn

TRACT 3: 21 acres of agricultural land

ALL TRACTS ARE ZONED RAC RURAL AGRICULTURAL CONSERVATION

Unlimited possibilities such as rehab/health care facility, substance abuse, halfway house, school, church, camp or retreat.

Improvements alone are assessed for $2,383,000. Come bid your price on this prime property!

Zoning

Isle of Wright County Zoning RAC (Rural Agricultural Conservation)

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 a Brokers license number and Federal Tax ID number. The form must be received in the office of Woltz & Associates, Inc. by 12:00 noon on September 5, 2018. 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.

Terms and Conditions

REGISTRATION: Bids will be accepted only from registered bidders. Registration begins at 1:00 PM. Please bring a drivers license for identification.

AUCTION SALE: Auction Tracts 1-3 will be sold subject to Seller confirmation. ALL CONFIRMED SALES ARE FINAL: All 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.

FINANCING: Your bidding and purchase of the property is NOT CONDITIONAL UPON FINANCING. Be sure you have arranged financing, if needed, and are capable of paying cash at closing.

LIABILITY: Bidders inspecting property enter at their own risk. Auction Company assumes no risk for bodily injury or damage to personal property.

BIDDING: Qualified bidders may bid on individual tracts, any grouping of tracts or the Property in its entirety. The auctioneer will determine all bid increments. All decisions by the auctioneer regarding bid acceptance are final.

ANNOUNCEMENTS: Announcements on day of sale take precedence over all prior releases, verbal and written, concerning this auction sale.

BUYERS PREMIUM: The Buyers Premium on the real estate is seven percent (7%) of the high bid amount. The Buyers Premium will be added to the high bid to determine the final sales price.

AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLER.

LEAD-BASED PAINT: Some of the buildings in this auction were built prior to 1978 and may contain lead-based paint. A lead-based paint inspection may be performed by bidders prior to the auction sale date. Applicable lead paint disclosures and information are available from Auction Company. Bidders will be provided a lead-based 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.

REAL ESTATE DEPOSIT: A deposit in the amount of ten percent (10%) of the contract sales price will be required on day of sale. The deposit is payable by cash, cashiers check, or pre-approved personal check payable to Woltz & Associates, Inc. Escrow Account. Personal checks will be approved if the Buyer presents a bank letter stating that the Buyer is a customer of the bank and the checking account is in good standing.

REAL ESTATE DEED: The real estate will be conveyed by general warranty deed free and clear of liens and encumbrances, except for (i) easements of record not materially and adversely affecting the value or use of the Property, (ii) real estate taxes not yet due and payable (which will be prorated at settlement), (iii) any items agreed to be paid or released at settlement by Seller and the buyer, and (iv) customary easements, rights-of-way and restrictions required by public utilities and/or the local governmental authorities not materially and adversely affecting the value or use of the Property. The balance of the purchase price is due at settlement on or before October 23, 2018. There will be no assigning of tracts or deeds between bidders. Tracts will be deeded in the manner purchased at the auction.

BOUNDARY LINES: Boundaries on aerial photos and topo maps are approximate. Refer to survey for exact boundary locations.

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.