Investment Property for Sale Near the Town of Floyd VA
Calling all real estate investors! Welcome to this investment property located just outside of the Town of Floyd VA. There are two homes on the property, both are currently lived in but need repairs and upgrades.
The farmhouse which was built in 1913 still holds a lot of its original character. It is heated with an oil furnace but does not have an A/C system. With some updating and improvements, this could be a great business location or permanent residence. The single wide mobile home features 2 bedrooms and 2 baths. Trailer has electric heat and window A/C units. Live in one home and rent out the other! Homes are served by their own septic system but share a well.
The detached garage is great for parking a vehicle or storing lawnmowers or other lawn equipment. The 6.03 acres that surround the homes features usable land with nice frontage on Route 221 N.
Online Auction Ends Wednesday, October 11th at 3 PM
670 Floyd Highway N, Floyd, VA 24091
PREVIEW DATE: Saturday, September 30th @ 10 AM
ONLINE BIDDING: Online bidding is now active and runs through 3 PM on October 11th, 2023. SOFT CLOSE.
DIRECTIONS: From the town of Floyd – Take 221 N towards Roanoke, VA. Property is on the right in less than 2 miles. See signs.
BIDDER PACK: Download Bidder Pack for complete information on each offering. The Bidder Pack has maps, complete terms and conditions, sample contracts, tax cards, and restrictions. Some of the plats in Bidder Pack may have notations and boundaries created by Auctioneer for illustration purposes, however unchanged surveys are in Bidder Pack as well.
SOFT CLOSE: If a bid is received within the last 2 minutes of the auction, the auction close time will automatically extend 2 minutes to allow other bidders an opportunity to competitively bid prior to the auction closing. This feature eliminates “snipers” and encourages fair and impartial bidding from all participants.
BUYER’S PREMIUM – TEN PERCENT (10%): Buyer’s Premium shall be added to the final online bid, which will determine the Total Contract Sales Price. Bidders hereby acknowledge and understand that the Buyer’s Premium will be added to the winning bid to create the Total Contract Sales Price for which they are obligated to pay for the property. Example: (winning online bid $100,000 + 10% buyer’s premium = total purchase price of $110,000). Buyer’s Premium is not due until closing.
PRE-AUCTION SALES: As an agent for the Seller, the Auctioneer must present any and all bona fide written offers to the Seller, which may be created outside of the online bidding platform. Therefore, all properties are subject to pre-auction sales. Pre-auction offers must meet all off the auction terms and conditions and must be submitted to the Auctioneer on the Auction Real Estate Sales Contract, along with the required earnest deposit. Properly submitted offers will be presented to the Seller in a timely manner. Seller may accept or reject such offer at their sole and absolute discretion. When a pre-auction offer is submitted, all properly registered online bidders will be notified that “an offer” has been submitted and on which specific property, however the amount of the offer shall remain confidential. All pre-auction offers must allow a minimum of 24 hours for seller’s acceptance. A Broker Fee of (2%) is offered to a cooperating VA State Licensed Real Estate Broker on any pre-auction offers that are properly completed and submitted on the appropriate forms provided by the auction company.
TERMS & CONDITIONS: 10% Buyer’s Premium will be added to final high bid to arrive at contract price. Earnest Money Deposit of $5,000 required on day of sale. Close on or before November 27th, 2023. Subject to seller confirmation. Property sold as is, where is with any and all faults. Buyer is expected to complete their own due diligence placing a bid. Auction starts ending at 3 PM on October 11th, 2023. Please note that during the last two minutes of bidding, if a new bid is placed, the clock is automatically extended an additional two minutes. Be sure to register to bid early to ensure you receive notifications regarding any changes to the Auction, Bidder Packet and/or Pre-Auction offers received. Download Bidder Information Pack for complete terms and conditions, purchase contract and maps.