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PROUDLY PRESENTING

AMAZING WEST VIRGINIA LAND AUCTION

536 +/- ACRES of WOODED LAND AND FIELDS

Hatcher Road, Princeton, WV

SEALED BIDDING ONLY

SEALED BIDS TO BE OPENED AUGUST 4 AT 1:00PM

PRINCETON PRESBYTERIAN CHURCH

1809 WEST MAIN STREET, PRINCETON,WV 24740

Property Tour Dates July 14 and July 22 2:00PM-5:00PM

Private appointments may also be scheduled to see this property. Call Martha Hilton at 304-667-7060

INSTRUCTIONS ARE PROVIDED BELOW THAT DETAIL THE REQUIREMENTS TO REQUEST A SEALED BID PURCHASE AGREEMENT



Category: ALL (1 records) 536 Acres-Princeton,WV - August 4, 2018 1:00 PM
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Item Photo Description
1 vertical.jpg VISION QUEST REALTY-MARTHA HILTON AUCTIONEER & BROKER WV0004244 WV#1357 in MARKETING CONSULTATION WITH ENTRUSTED AUCTIONS - - - -- - -AMAZING WEST VIRGINIA LAND. HISTORIC PROPERTY OWNED BY THE SAME FAMILY FOR MULTIPLE GENERATIONS. FIVE TRACTS TOTALING 536 +/- ACRES. BREATHTAKING VIEWS. GREAT TRAIL SYSTEM.HUNTER'S AND CAMPER'S DREAM! ELECTRICITY PRESENT.

Real Estate Auction

Hatcher Road

Princeton, WV

(Google Map)

AUCTIONEER'S COMMENTS: ALMOST HEAVEN!! WHAT AN AMAZING PIECE OF PROPERTY!! This wonderful property sits on a beautiful hillside plateau in Mercer County, West Virginia. It is a hunter's paradise. Plenty of wooded areas, multiple springs and a fully stocked pond. The property also features multiple open fields that are currently being cut for hay. The property has also been used as a functional cattle farm during its lifetime. The property is easily accessible by the main access road. Several roads cross the property and allow for easy passage for farm equipment and ATV. Additional logging roads that form a trail system allow for simple and easy passage across and through the wooded areas by ATV . This property is perfect for an off the grid style campsite, weekend camper getaway or just a nice manageable recreational and hunting tract with convenient access and a private secluded feel. Located close to interstate 77 from two different exits, either Princeton (Rt. 460 East) or Athens (Eads Mill Rd. & Pisgah Rd.) exits. This property is approximately 15 minutes east of Princeton,WV and Interstate 77. If you’ve been looking for that private piece of land that you can call your own, you’ll want to take a look at this one.

Sold subject to seller confirmation and acceptance of highest bid received
Required minimum bid - $350,000.00
Acreage - 536 +/- acres
Great trail system
Electricity present on central parcel along with small caretaker's house
Multiple large open fields surrounded by wooded areas. Open fields currently being cut for hay
Several springs and fully stocked spring-fed pond
Food plots already present
Parcel ID Number and Legal Description
05 11001500000000 184 ACS PAYNES FK
05 11001600000000 187.5 ACS PAYNES FK
05 11001700000000 0.62 ACS PAYNES FK
05 12001100000000 92.25 ACS PAYNES FK 05
20000600000000 71.80 ACS PAYNES FK
Municipality: Mercer County
Zoning:Tax Class 2, Land Use 112 Active Farm

RECOMMENDED DIRECTIONS AND ACCESS POINT - Interstate 77 to Route 460 East. Travel approximately 5 miles - Left turn onto Goodwins Chapel Road. Travel 1.2 miles. - Left turn onto Cheesy Creek Road. Travel 0.1 mile - Sharp left onto Hatcher Road. Travel approx. 4.4 miles to property entrance NOTE: Hatcher Road is a narrow, paved, unlined road that turns to gravel around the 3.3 mile mark. After traveling on the gravel for approx. 1.1 miles you should arrive at the property entrance.

IMPORTANT TRAFFIC NOTE: buyers traveling from the south or from northern VA are advised to detour around Interstate 77 North. There are major delays being caused by construction approximately eight miles south of Princeton,WV and the intersection of Rt. 460. Suggested alternate routes traveling from the south or northern VA are:
- Interstate 81 to Dublin, VA. Route 100 North to Pearisburg, VA. Route 460 West then travel approx. 20 miles to Goodwins Chapel Road on the right.
-Interstate 81 to Christiansburg, VA. Route 460 West toward Blacksburg, VA. Travel approx. 50 miles on Rt. 460 West to Goodwins Chapel Road on the right.
-Interstate 77 North to the Bluefield, WV exit 1 and Route 52 north. Travel approx. 2 miles to the ramp for Rt. 460 East. Take Rt. 460 East approx. 17 miles on Rt. 460 East to Goodwins Chapel Road on the left.

Questions??Call Martha Hilton, Broker at 304-667-7060

SEALED BIDDING INSTRUCTIONS AND TERMS AND CONDITIONS for SEALED BID REAL ESTATE AUCTION

TO REQUEST A SEALED BID PACKET AND PLACE A BID:

Detailed Bidder’s Information Packets containing the Sealed Bid Auction Real Estate Purchase Agreement, title reports, tax parcel numbers, aerial and topographic maps and bidding instructions are available from Vision Quest Realty via email, fax or mail order. Contact Martha Hilton at agentwv@mountain.net or call 304-667-7060

REAL ESTATE TERMS:

1. TERMS OF SALE: This Auction is being conducted subject to the Terms and Conditions of Sale and the Sealed Bid Auction Real Estate Purchase Agreement. Five tracts totaling approximately five hundred and thirty six (536) +/- acres in the State of West Virginia, Mercer County. The Auction Tracts are being offered for sale as a whole.

2. BIDDER’S INFORMATION PACKET: Detailed Bidder’s Information Packets containing the Sealed Bid Auction Real Estate Purchase Agreement, title reports, tax parcel numbers, aerial and topographic maps and bidding instructions are available from Auction Company via email, fax or mail order.

3. PROPERTIES OFFERED SUBJECT TO MINIMUM BID: The property in its entirety is offered subject to the seller’s confirmation of the highest bid. All bids presented must be greater than or equal to the published Minimum Bid of $350,000.00

4. BIDDING: The Auction Tracts are being offered by a sealed bid auction.

ELECTRONIC MAIL BIDS, U.S MAIL BIDS, BIDS DELIVERED BY DELIVERY SERVICE (UPS, FEDEX, ETC.): To participate and bid in the auction via mail, delivery service or electronic mail, all fully executed and signed Sealed Bid Auction Real Estate Purchase Agreements (contained in the Bidder’s Information Packet) must be completed and delivered to Martha Hilton, Auctioneer and Broker, Vision Quest Realty, on or before 5:00 PM Eastern Time, Friday, August 3, 2018. All bids sent through U.S. Mail or by delivery service, must be sent by certifiable means, requiring a signature upon receipt. Bids may be emailed, mailed or delivered to: Martha Hilton, Broker and Auctioneer 951 Washington Street, West Lewisburg, WV 24901 agentwv@mountain.net

HAND DELIVERED BIDS: With prior approval from Martha Hilton, Auctioneer and Broker, Vision Quest Realty, fully executed and signed Sealed Bid Auction Real Estate Purchase Agreements (contained in the Bidder’s Information Packet) may also be hand delivered to Martha Hilton at the Princeton Presbyterian Church located at 1809 West Main Street, Princeton, WV 24740 on Saturday, August 4, 2018 before 12:30 pm. All requests for hand delivery at the Princeton Presbyterian Church must be received via electronic mail. No requests for hand delivery and no hand delivered bids will be accepted after 12:30 PM on August 4, 2018.

5. BID BASIS: Bidding is by a lump sum bid, not per acre.

6. BUYER’S PREMIUM: A ten percent (10%) buyer’s premium must be added to the final High Bid to determine the total Purchase Price.

Example: $400,000.00 bid + $40,000.00 buyer’s premium = $440,000.00 total purchase price

7. EARNEST MONEY DEPOSIT: A Deposit of 10% of your bid must accompany the bid either by cashier’s or certified check or wire transfer. Deposit checks must be made payable to “Vision Quest Realty Trust Fund ”. Cashier’s checks will not be deposited during the bid consideration period. All Deposits on offers not accepted will be returned to the respective bidders by August 28, 2018 with time allowed for mail delivery. Deposits for accepted winning Bids are NON-REFUNDABLE and will be deposited to the Escrow account of Martha Hilton, Auctioneer and Broker, Vision Quest Realty, and held per the terms of the Sealed Bid Auction Real Estate Purchase Agreement. Call 304-520-0992 or 304-645-7700 for wiring instructions.

8. BID OPENING: Bids will be opened at the Princeton Presbyterian Church located at 1809 West Main Street, Princeton, WV 24740 on Saturday, August 4, 2018 at 1:00 PM, Eastern Time. Only the high bids will be announced.

9. NOTIFICATION OF ACCEPTED BIDS: The successful bidder(s) will be notified if their bid(s) has/have been accepted by 5:00 PM Eastern Time on Thursday, August 9, 2018.

10. TIE BIDS: In the event of any tie bids, all tied bidders will be given another opportunity to make their best and final offer with 5 business days’ notice.

11. SETTLEMENT: Seller will prepare, and Buyer(s) will accept, a General Warranty Deed. Buyer(s) and Seller shall pay their own settlement costs as is customary in the state of West Virginia. Each party will be responsible for its own attorneys’ fees. Seller is providing a commitment for title insurance for all Auction Tracts. If Buyer elects to purchase title insurance, the title insurance premium shall be at the Buyer’s expense. All Auction Tracts shall be conveyed per the Property Description in the commitment for title insurance. The settlement date shall be on or before Sept 6, 2018.

12. ALL 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.

13. 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. Any and all buyers requiring financing MUST present a letter of qualification or pre-approval to Martha Hilton prior to the date and time of the auction.

14. BROKER PARTICIPATION: Any appropriately licensed West Virginia broker whose agent properly registers the successful high bidder will be paid a commission of 20% of the net buyer’s premium at settlement by the Seller. Broker Participation Applications must be on a Martha Hilton Auctioneer and Broker, Vision Quest Realty, Broker Participation 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 Martha Hilton Auctioneer and Broker, Vision Quest Realty, 24 hours prior to the receipt of or accompanying the Sealed Bid Auction Real Estate Purchase Agreement and Deposit. Agents acting as principals buying on their own account, on account of a business in which they are a principal member, 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 multiple qualified bidders.

15. BOUNDARY LINES: Boundaries on aerial photos and topographic maps are approximate. Potential buyers will have ample opportunity to inspect boundary lines during scheduled property tour dates or by scheduling a private tour of the property. Buyer assumes all risk associated with entry upon the land and traversing the land.

16. ACREAGE AND SQUARE FEET: All acreages and square feet descriptions are approximate. If there is a discrepancy between the seller, Vision Quest Realty, Martha Hilton Broker and Auctioneer, its contractors, employees, affiliates, assigns and the actual acreage and/or square feet as determined by a surveyor or appraiser, the final accepted high bid and subsequent sales price including the buyer’s premium will not be adjusted. The statements, while not guaranteed, are from reliable sources. Any costs incurred in establishing boundaries shall be the responsibility of the buyer. Each sale is subject to easements, rights-of-way, reservation and/or restrictions of record.

17. RESERVE AUCTION: Once declared the high bidder and signing the required Sealed Bid Real Estate Purchase Agreement, the offer shall be irrevocable for seven (7) business days from the date of submission, and shall not be withdrawn for any reason by buyer. If not accepted by seller within that time frame by delivery of a signed copy of the Sealed Bid Real Estate Purchase Agreement, the Sealed Bid Real Estate Purchase Agreement and the buyer’s offer shall become null and void and the deposit held by the auction company shall be promptly returned to the buyer.

18. INDEMNIFICATION OF AGENT AND CLOSER: Buyer jointly and agrees to indemnify and hold closer and agent their agents, principals, associates, affiliates, assigns and employees harmless against any and all losses, claims, damages or liabilities and expenses not resulting from agent or closer's bad faith or gross negligence, including costs of investigation, attorney fees, and disbursements, which may be imposed upon or incurred by agent or closer hereunder relative to the performance of their duties related to the parties or the property, including without limitation any litigation arising from or in respect of this contract or the transactions contemplated hereby. Closer and agent shall not be liable for any error of judgment or for any act done or omitted by them in good faith. Closer and agent are authorized to act on any document believed by them in good faith to be executed by the proper party or parties, and will incur no liability in so acting. Closer and agent are in all respects and for all purposes third party beneficiaries of this contract to the extent that this contract would entitle them to rights or benefits if they were signatory parties hereto, and each of them is entitled to enforce such rights and benefits, as herein provided, to the same extent they would be entitled if they were such signatory parties. ANY INDEMNIFICATION, DEFENSE OR HOLD HARMLESS OBLIGATION OF BUYER FOR THE BENEFIT OF SELLER, CLOSER, OR AGENT IN THIS CONTRACT SHALL SURVIVE THE CLOSING AND/OR TERMINATION OF THIS CONTRACT.

19. GENERAL: The information contained in this brochure and otherwise provided by Seller and Auction Company 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.

20. AGENCY: Martha Hilton, Auctioneer and Broker, Vision Quest Realty and her representatives represent the Seller.

21. QUESTIONS: Sale related questions should be directed to: Martha Hilton at 304-667-7060 or agentwv@mountain.net

Vision Quest Realty WV0004244 WV#1357