Bankruptcy Auction: Duplex in Lynchburg

Lynchburg VA
SOLD pending court approval

PROPERTY LOCATION

1601 Fillmore St
Lynchburg, VA 24501

AUCTION LOCATION

Live auction held at the courthouse steps.
900 Court St, Lynchburg, VA

DETAILS

  • Selling for the U.S. Bankruptcy Court, Steven L. Higgs, Bankruptcy Trustee
  • Property is a duplex located on the corner of Fillmore and 16th St near Robert S. Payne Elementary School.
  • The main level and basement combine for one 2BR 1BA unit.
  • The second floor is another 2BR 1BA unit.
  • Total square footage is 2,355 sq.ft.
  • Home was built in 1926 and needs work.
  • Property is vacant.
  • Parcel ID 02631005
  • Zoned R3
  • Tax assessed at $60,800.

AGENT ON SITE

  • Thu, Feb.25 from 12-1 PM
  • Wed, Mar.3 from 12-1 PM
  • or by appointment

DIRECTIONS TO PROPERTY

  • From River Ridge Mall, take Lynchburg Expressway (US-29N Business) 3mi to Kemper St exit. LEFT on Kemper St. 1/4mi to RIGHT on 15th St. 3 blocks to RIGHT on Fillmore St. One block to home on right.

TERMS SUMMARY

  • 10% deposit due day of sale by cash or good check. Closing on or about 30 days. 5% buyer's premium. High bid subject to court approval. Click on "Terms" tab for full terms and conditions.

Terms: Property sells "AS-IS" without warranties of any kind. Potential Buyers must perform such independent investigations with respect to the Property as they deem necessary to verify information provided by Auction Company.

Warranty: All information provided by Auction Company is deemed reliable but is not warranted. The information provided by the Auction Company is subject to verification by all parties relying on it. No liability for its accuracy, error or omission is assumed by the Auction Company.

Title: Seller will convey title by Special Warranty Deed.

Registration: Bids will be accepted only from registered bidders. On-site registration begins at 1:30 PM day of sale. You may also pre-register on our website or phone app.  Deadline for phone and online bidding registration is 6PM EST on the day prior to the auction. A valid form of identification (i.e. driver's license) may be required to register onsite or online.

Online Bidding: Online bidding is available for your convenience. However, due to the technical nature of online bidding, bidder acknowledges that this service may or may not function correctly the day of the auction. Torrence, Read, & Forehand Auctions will not be responsible for missed bids from any source. Online bidders who desire to make certain their bid is acknowledged should use the prebidding function and leave their maximum bid 24 hours before the auction begins. Winning bidders will be notified by email and/or phone and receive instructions for signing the Contract of Purchase (must be returned within 24 hours) and submitting the Deposit (see below).

Announcements: Announcements made on day of sale take precedence over all prior communications, both verbal and written, concerning the sale of the Property.

Approval: High bid subject to court approval.

Buyer's Premium: A 5% buyer's premium will be added to the high bid to determine the final sales price.

Deposit: Deposit equal to 10% of final contract price (bid price plus buyer's premium) due day of sale by cash or good check. Online bidders may overnight deposit or wire transfer funds so it is received within 2 business days.

Closing: Balance of Purchase Price shall be due at closing on or about 30 days after the sale.

Agency: The auction company and its representatives represent the sellers.