11 Tracts for AUCTION

38 Olive St, Staunton, VA 24401, USA

For Sale



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Please note: This property is an AUCTION through Mountain Valley Auctions & the $11,000 price is the minimum bid for the full acreage amount - https://www.mountainvalleyauctions.com/auctions/detail/bw62834

3.284 +/- acres of undeveloped land in the heart of Staunton VA. This is an unusual and incredible opportunity for investors, developers, or builders. This property is zoned R3 Multi-Family and sold in 11 separate tracts to the highest bidder regardless of price. Don't let this opportunity get away!

This Is An Online Only Auction - All Bids Must Be Submitted Online. https://www.mountainvalleyauctions.com/auctions/detail/bw62834

Property Highlights:
Undeveloped wooded acreage in historic Staunton VA
Zoned R-3 Multi-Family Residential
Excellent investment and development opportunity
Conveniently located just two blocks from Gypsy Hill Park and within easy walking distance of many other amenities
City water and sewer lines as well as natural gas lines adjacent to the property
Existing street access from Olive and Myrtle Streets
Beautiful hilltop views from the upper tracts
Additional Information Can Be Found At The 'Documents' Tab At The Top Of This Listing and By Clicking The “Bid Online Now” Button.

This property consists of twenty-three individual lots being sold in eleven different tracts. All of these eleven tracts are being sold to the highest bidder regardless of price with a starting bid of only $1,000 per tract.

The bidding for all of these tracts will close at 1:00 PM May 25 with a five minute auto extend. This means that if a bid is placed on any tracts within the last five minutes the bidding will be extended on all tracts for an additional five minutes. This allows you the opportunity to be the high bidder on any combination that you wish to purchase.

This property is being sold AS-IS with no financing/appraisal/inspection contingencies and with no warranties or guarantees of any kind. Seller(s) do guarantee clear title to the property. Bidders are encouraged to enlist the assistance of professional inspectors or contractors in evaluating the condition and value of the property. All inspections and other due diligence must be performed prior to the close of the auction.

Terms: (See additional terms at https://www.mountainvalleyauctions.com/auctions/detail/bw62834). Payment will be in the form of Cash or Cash Equivalent with a $1,000 non-refundable deposit per tract due the day of the auction (within 24 hours for online bidders at a distance) along with a signed contract, and the balance due at closing within 45 days. Deposit will be applied to the purchase price at closing. Please do not bid if you are not able to close within 45 days. Closing will be handled by Insight Title and Settlement Services, Staunton VA.

Buyers Premium: There will be a 10% Buyers Premium added to the high bid to determine total contract purchase price. (For example a 100,000 bid would have a buyers premium of $10,000 added for a total purchase price of $110,000).

Buyers Realtor Representation: Preapproved (No later than 5:00 PM on May 24, 2021) buyers broker participation will be compensated. Ten percent (10%) of the buyers premium will be paid to a qualified licensed real estate agent whose registered buyer's offer is accepted by the seller and who closes on the property. Find the Realtor Representation Form at https://www.mountainvalleyauctions.com/auctions/detail/bw62834.

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Staunton Lots Brochure.pdf

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Property Location

38 Olive St, Staunton, VA 24401, USA