Bidding Notice:

Proof of a minimum $10,000.00 (USD) available funds for deposit, per property, is required by the Trustee to receive a bidder number toparticipate in the auction. Sales price (gross bid) shall be defined as the high bid plus a tenpercent (10%) Buyer's Premiumif Buyer is present and a thirteen percent (13%) Buyer’s Premium if buyer purchases on-line. Thegreater of $10,000.00 (USD) or ten percent ... Show More

Auction Information
Name Multi Property
Auctioneer
Type Live Webcast Auction
Date(s) 3/18/2019
Auction Date/Time Info
Monday, March 18, 2019, 1:30 PM
Checkout Date/Time Monday, March 18, 2019, 2:30 PM
Location
Buyer Premium N/A
Description
Multi Property Real Estate Auction Income-Producing Properties! Trustee Ordered Sold-Atlantic Trustee Services, LLC, Substitute Trustee (1) 2208 Elmington Circle (2) 1225 Mullholand Court (3) 1321 Kasba Court
Terms and Conditions of Auction 2208 Elmington Circle, Virginia Beach, VA 234541321 Kasba Court, Virginia Beach, VA 23464 1225 Mullholand Court, Virginia Beach, VA 23454 IDENTIFICATION: All buyers are required to have a Bidder's Number to bid, giving full name, address, and phone number. Evidence of correct form of deposit must be made in order to register for the auction. CONTRACTS:The successful bidder must sign all documents and contracts immediately upon conclusion of the auction. DEPOSITS:Proof of a minimum $10,000.00 (USD) available funds for deposit, per property, is required by the Trustee to receive a bidder number toparticipate in the auction. Sales price (gross bid) shall be defined as the high bid plus a tenpercent (10%) Buyer's Premiumif Buyer is present and a thirteen percent (13%) Buyer’s Premium if buyer purchases on-line. Thegreater of $10,000.00 (USD) or ten percent (10%) payment of thegross bid (high bid + Buyer’s Premium) is due immediately after being declared winning bidder. All deposits will be required in the form of a cashier’s check or certified check.The winning bidders shall make the cashier’s check or certified check payable to Atlantic Trustee Services, LLC, Trustee,at the completion of the auction. BUYER’S PREMIUM:A buyer’s premium of ten percent (10%) shall be added to the successful bidder’s high bid and included in the total purchase price to be paid by the successful bidder. An additional threepercent (3%) buyer’s premium will be added to on-line bids and an additional three percent (3%) buyer’s premium shall be added to any paymentsin the form of a credit card. REAL ESTATE CLOSING:Buyers must close all sales of real property within 15days from the date of the auction sale. Time is of the essence. The entire purchase price must be paid by cashier or certified check or wired funds at closing. Buyer is to pay all closing and transfer fees. A $595.00 processing fee is added to the price of each auction lot. Upon payment in full of the purchase price, the buyer shall be entitledto a deed for said property with special warranty of the title. If bidding on additional properties, please be prepared on the auction daywith a cashier’s check or certified check for the adjusted bidder deposit amount. REAL ESTATE BUYERS AGENTS: Real Estate brokers who register as buyers agents will qualify for a commission as outlined in the Broker's Registration form available from the Auctioneer. Commissions are calculated on the successful buyer's high bid. Cooperating broker must be licensed in the state where the property is located. The brokers properly registered buyer must pay and settle on the property. A broker shall not be entitled to any sort of commission on any sale to an entity of which (or of any affiliate of which) the broker is a principal, employee, affiliate, shareholder, or immediate family member. Broker must register their prospective buyer with the accepted form with the signature of the broker ANDthe prospective buyer, the broker's Real Estate license number, identification ofthe property, and Agency Discloser Statement. Agents must accompany their buyer to the auction and forward bid deposit to auctioneer. Please call 757-286-6460 with any questions concerning this process or to acquire a form via email. Brokers must submit forms via email to: wjsumms@atlanticremarketing.com (2) business days prior to bidding. Brokers must retain the stamped version of the submitted form that is emailed back, and bring it to the auction. CONDITION OF SALE:This property is sold in gross in all cases. If a subsequent survey by the buyer shows a greater or lesser number of acres or square footage, this will not affect the purchase or purchase price. AGENCY:The Auctioneer is acting as agent on behalf of the Secured Creditoronly, and,as such, may protect the Secured Creditor’s interests by bidding as agent. During bidding, the Trusteehas the right to reject any raise that, in his opinion, is not commensurate with the value of the offering. In the event of any disputebetween bidders, the Trusteemay determine the successful bidder or re-offer and resell the property in dispute. Should there be any dispute after the sale; the Trustee’s record of final sale shall be conclusive. TRUSTEE’S RIGHTS:All announcements made the day of sale take precedence over any prior written or verbal terms of sale. The Secured Creditor or Creditor’s Agent has the right to register as a Bidder (subject to the stated terms) and place a bid on the property for the protection of the Secured Creditor. Buyerswill acquire properties subject to the rights of all parties in possession. Should the buyer fail to comply with any conditions contained herein, Auctioneer may, in addition to asserting all remedies available by law, including the right to hold defaulting buyer liable for the purchase price, either (a) cancel the sale, retaining as liquidated damages any payment made by such buyer; (b) resell the property at public auction; and/or (c) take such other action as it deems necessary or appropriate. The retention of the bidder’s deposit shall not limit any rights or remedies of Atlantic Asset Management Group or the seller(s) with respect to the buyer’s default. If the property is resold, the original defaulting buyer shall be liable for payment of any deficiency in the purchase price and all costs and expenses, the expenses of sales, reasonable attorney's fees, commissions, incidental damages and all other charges due hereunder. JURISDICTIONS:This property, to be offered pursuant to the Notice of Sale, is being offered for sale, transfer & conveyance “AS IS, WHERE IS.” Neither the Substitute Trustee nor the holder of the note secured by the Deed of Trust/security agreement, or both, being foreclosed, not the officers, directors, attorneys, employees, agents or authorized representative of either the title or any physical, environmental, health or safety conditions existing in, on, at or relating to the property being offered for sale, and any and all responsibilities or liabilities arising out of or in anyway relating to any such condition expressly are disclaimed. The respective rights and obligations of the parties with respect to the Terms and Conditions of Sale and the conduct of the auction shall be governed and interpreted by the laws of the Commonwealth of Virginia. By bidding at an auction in person, by agent, by written bid, by internet bid, or by any other means, the buyer shall be deemed to have consented to the jurisdiction of the state and federal courts sitting in the Commonwealth of Virginia. ADDITION TO OR WITHDRAWAL OF SALE:The Secured Creditor reserves the right to withdraw from sale the property listed and also reserves the right to group one or more properties into one or more selling lots or to subdivide into two or more selling lots. The Secured Creditor additionally reserves the right to cancel the auction sale up to the time prior to the commencement of bidding. AUCTION FIRM IS NOT RESPONSIBLE FOR ANY MISTAKES MADE IN AUCTION ADVERTISEMENT(s). DAY OF SALE ANNOUNCEMENTS TAKE PRECEDENCE OVER ALLOTHER ADVERTISING For more information about this auction or other upcoming events, please log on to www.atlanticREmarketing.com or email us at wjsumms@atlanticremarketing.com Thank you for your interest on this great auction property! VA/AF #359 NC/AF #8177 1195 Lance Road•Norfolk, VA 23510•Telephone (757) 461-6867 •Fax (757) 687-1531 •www.atlanticremarketing.comAuctions • Appraisals •Benefit Auctions •Consulting –Licensed •Bonded •Insured
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 20.00 2.00 USD
20.01 - 50.00 5.00 USD
50.01 - 100.00 10.00 USD
100.01 - 500.00 25.00 USD
500.01 - 1,000.00 50.00 USD
1,000.01 - 3,500.00 100.00 USD
3,500.01 - 5,000.00 250.00 USD
5,000.01 - 10,000.00 5,000.00 USD
10,000.01 - 300,000.00 5,000.00 USD
300,000.01 - 1,000,000.00 5,000.00 USD
1,000,000.01 - 9,999,999.99 123.45 USD
Currency USD
Buyer Premium N/A
Payment Terms
10% Deposit of Total Purchase Price due upon close of the auction
Notice: Financing terms available may vary depending on applicant and/or guarantor credit profile(s) and additional approval conditions. Assets aged 10-15 years or more may require increased finance charges. Financing approval may require pledge of collateral as security. Applicant credit profile including FICO is used for credit review. Commercial financing provided or arranged by Express Tech-Financing, LLC pursuant to California Finance Lender License #60DBO54873. Consumer financing arranged by Express Tech-Financing, LLC pursuant to California Finance Lender License #60DBO54873 and state licenses listed at the this link. Consumer financing not available for consumers residing in Alaska, Louisiana, Nevada, Ohio, Vermont, Hawaii, or Wisconsin. Additional state restrictions may apply. Equal opportunity lender.