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Deposit of $500.00 cash or certified check shall be required to qualify as a bidder before the sale, except from the Noteholder. Deposit. without interest, is applied to the purchase price at settlement. Settlement will be held on or before 21 days after sale. Upon purchaser's default, the deposit shall be forfeited and the property shall be resold at the risk and costs of the defaulting purchaser. In the event the Trustee cannot convey to the purchaser the above described interest, in the Trustee’s sole discretion, the sale may be rescinded and the purchaser's sole remedy shall be the refund of the deposit.
The balance of the purchase price shall be in cash or its equivalent. Settlement shall be at the offices of the Substitute Trustee or other mutually agreed location. The property and any improvements thereon shall be sold in “as is" condition without any warranties. The successful bidder shall assume all loss or damage to the property from and after the time of the sale.
Purchaser shall be responsible for all costs of the conveyance, which shall be by special warranty, including but no limited to the preparation of the deed and the grantor's tax. The sale is subject to such additional terms as the Trustee may announce at the time of sale. The purchaser will be required to sign a Memorandum of Sale incorporating all the terms of the sale.
Written notice of this Trustees' Sale has been sent to the owners by certified mail in strict compliance with section 55-59.1 of the Code of Virginia, 1950, as amended.
MICHAEL T. BROWN
Substitute Trustee
For Information Contact:
Michael T. Brown, Substitute Trustee Law Office of Douglas K. Baumgardner 211-A Main Street Post Office Box 270 Washington, Virginia 22747 540-675-3617
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