United Country A.B. Cole & Associates, LLC
Date(s) 10/21/2024 - 10/31/2024
Tuesday, October 22- Thursday, October 31 @6pm Online Auction
Online-Only Auction
Shipping Not Available
Bidding Notice:
Online only bidding with Staggered Soft Closing - One item closing every 25 sec. beginning 6pm, on Thursday, October 31, 2024. Items receiving bids in last 2min of closing will extend time for 2 min.
Auction Information
Name | Machine Shop Building- Suffolk, VA |
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Auctioneer |
United Country A.B. Cole & Associates, LLC
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Type | Online-Only Auction |
Date(s) | 10/21/2024 - 10/31/2024 |
Auction Date/Time Info |
Tuesday, October 22- Thursday, October 31 @6pm
Online Auction
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Preview Date/Time | Preview: Saturday, October 26 from 10AM-2PM or by appointment |
Checkout Date/Time | Checkout takes place within 24 hours after the auction and contracts are signed. |
Location |
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Buyer Premium | 10% Buyers Premium will be added |
Description |
Don’t miss this incredible opportunity to own a 6,500 +/- sq. ft. block-constructed fabrication shop set on 1 +/- acre in the heart of Suffolk’s commercial district! Perfectly positioned for your manufacturing and repair needs, this versatile space is ready for you to move in and get started.
Property Features:
Spacious 6,500 +/- sq. ft. fabrication shop
1 +/- acre lot in a bustling commercial area
Solid block construction for durability
Flexible layout adaptable for various uses
Ideal for manufacturing, repairs, and more
Why Bid?
Prime Location: Benefit from high visibility and easy access to major routes.
Ready to Operate: Move in with your equipment and start working right away!
Versatile Space: Perfect for a variety of industrial and commercial applications.
Auction Details:
Date: Tuesday, October 22- Thursday, October 31, closing at 6pm
Location: Online – Bid from the comfort of your home!
Inspection: Saturday, October 26, from 10AM-2PM or call Barry for an appointment 757-539-9866
Seize this chance to expand your business or invest in a promising property!
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Terms and Conditions
Auction Terms & Conditions
SUCCESSFUL BID, TOTAL PURCHASE PRICE, ESCROW DEPOSITS, CASHIER’S CHECK, SALES CONTRACT:
Once the highest and acceptable bid (“Successful Bid”) for the Property has been established and
recorded, the successful Bidder will be required to execute, as Buyer (“Buyer”), the Sales Contract
(“Contract”) immediately following the conclusion of the Auction, with no exceptions, and tender the
escrow deposits so required. The Successful Bidder’s deposit shall be 5% of the cost of the total
price, which includes the 10% buyer’s premium delivered to United Country A.B. Cole & Associates
as Settlement Agent, (“Initial Deposit”) for deposit into their real estate escrow account and held as a
required deposit pursuant to the terms of the Contract. The amount of ( i ) the Successful Bid AND (
ii ) 10% of the Successful Bid (“Buyer’s Premium”), added together, will be the Total Purchase Price
(“Total Purchase Price”) for the Property to be purchased by the Buyer under the Contract. A
personal, business check, or a wire transfer from a U.S. Bank Payable to United Country A.B. Cole &
Associates Real Estate Escrow Account and delivered to United Country A.B. Cole & Associates for
deposit into their real estate escrow account and held in escrow as a required deposit pursuant to
the terms of the Contract
CONFIRMATION OF BID:
This auction is subject to Seller approval.
CLOSING AND PAYMENT OF TOTAL PURCHASE PRICE:
The Closing (“Closing”) will be on or before Monday, December 2 by 5:00 PM and will be
coordinated through the offices of the Settlement Agent. The Total Purchase Price will be due and
payable by Buyer at Closing by Cashier’s Check from a U.S. Bank in U.S. Bank Funds or by Wire
Transfer pursuant to instructions from the Settlement Agent. Buyer shall receive credit for the Initial
Deposit which shall be released from escrow and applied by the Settlement Agent towards the Total
Purchase Price at Closing. Time shall be of the essence. Buyer agrees to pay all buyer side closing
costs associated with the settlement of the property.
TITLE INSURANCE AND ZONING: (a) Seller will provide Buyer a commitment (“Commitment”) to issue
an Owner’s Title Insurance Policy for the Property. The Commitment and Owner’s Title Insurance
Policy will be issued by the Settlement Agent. (b) It is understood and agreed that fee simple title, at
time of closing, will be conveyed to the Purchaser by General Warranty Deed. (c) Buyer agrees that
the Property is subject to all laws, ordinances, codes, rules, and regulations of applicable
governmental authorities pertaining to the ownership, use and occupancy of the Property, including,
but not limited to, zoning, land use, and building codes, Homeowners/Condominium Association
Documents, Covenants, Restrictions and Obligations, Recorded Plat and agrees to take title subject
to such matters. (d) The seller shall provide buyer(s) a survey of the property or parcels (tracts) as
applicable to properly describe the property being purchased.
BUYER’S NOTE: The sale of the Property is an “All Cash” transaction and shall not be subject to any
financing or post due diligence. The Seller, United Country A.B. Cole & Associates., their
representatives, attorneys, agents, and sub-agents, assume no liability for errors or omissions in this
or any other property listing or advertising or promotional/publicity statements and material. The
Seller, United Country A.B. Cole & Associates, their representatives, attorneys, agents, and subagents, make no guarantee as to the accuracy of the information herein contained or in any other
property listing or advertising or promotional/publicity statements and material. Neither the Seller
nor United Country A.B. Cole & Associates have any obligation to update this information. Neither
United Country A.B. Cole & Associates nor the Seller, their agents, sub-agents, have any liability
whatsoever for any oral or written representations, warranties, or agreements relating to the
Property (including information appearing in this advertisement or announcements at the time of
the Auction) except as is expressly set forth in the Contract. All Bidders are encouraged to inspect
the Property prior to placing any bid at the Auction and the Successful Bidder, as Buyer,
acknowledges that it has a reasonable opportunity to inspect and examine the condition of the
Property and make inquiries of applicable governmental authorities pertaining to Buyer’s proposed
use of the Property prior to the Auction as Buyer has deemed necessary or desirable. Competitive
bidding is an essential element of an Auction sale, and such a sale should be conducted fairly and
openly with full and free opportunity for competition among bidders. Any conduct, artifice,
agreement, or combination for the purpose and effect of which is to stifle fair competition and chill
the bidding, is against public policy and will cause the sale to be set aside. Collusion/Bid Rigging is a
Federal Felony punishable by imprisonment and fine. United Country A.B. Cole & Associates will
report all illegal conduct to the F.B.I. and cooperate with any prosecution. The Property or any
portions of the property may be withdrawn from the Auction at any time without notice and is
subject to prior sale. The Seller in its absolute sole discretion reserves the right to amend, negotiate,
modify, or add any terms and conditions to these General Terms and Conditions of Sale and to
announce such amendments, modifications, or additional terms and conditions, at any time. Any
change of the property status relating to zoning, use, etc., to include the rolling back of taxes, will be
paid by the purchaser. The highest acceptable bid shall be the Successful Bid and accepted by Seller
as evidenced by Seller and the Successful Bidder, as Buyer, each executing the Sales Contract. Backup bids will be recorded as received. Should the Property not close with the Buyer, the Seller will
have the option to pursue back-up bids. The highest Bid shall be considered an offer to purchase
and will become final upon a fully executed agreement to buy by both parties. If you are unsure
about anything regarding the Property, do not place a bid. Review of the Contract before making any
bids is strongly recommended. You acknowledge the fact the auction is being recorded by image
and sound and you consent to the same.
ANNOUNCEMENTS:
All announcements from the Auction Block at the Auction will take precedence over all previously
printed material and any other oral statements made. In the event of a dispute over any matter, the
Auctioneer shall make the sole and final decision and will have the right either to accept or reject the
final bid or re-open the bidding.
ABSENTEE/TELEPHONE/ONLINE BIDDING:
Absentee / Telephone / Online Bids will be accepted, subject to all terms and conditions of the
Auction. Interested bidders must obtain and sign the proper forms by contacting United Country
A.B. Cole & Associates and tender the required escrow deposit(s).
DEFAULT:
If the Buyer fails to comply with any of these General Terms and Conditions of Sale, the Seller and
Auction Company may retain the required deposit(s) under the Contract as liquidated damages and
not as a penalty. As stated in 7, the Seller may then pursue any Back-up Bidders.
REPRESENTATIONS:
All information was derived from sources believed to be correct but is not guaranteed. Bidders shall
rely entirely on their own information, judgment, and inspection of the Property and records.
Neither Seller nor Auctioneer its Agents makes any representation or warranties as to the accuracy
or completeness of any information provided. All sizes, dimensions, drawings are approximations
only.
BID PRICE:
The bid price for the Property shall be determined by competitive bidding at the Auction and /or by
mutual agreement between buyer and seller.
ACKNOWLEDGMENT AND ACCEPTANCE:
By registering for this auction, clicking the box that states that you agree to the General Terms and
Conditions of Sale, and have read and understood the provisions set forth therein, accepts same
and agree to bound thereby.
Bid Increments
Your bid must adhere to the bid increment schedule.
Bid Amount | Bid Increment |
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0.00 - 420,000.00 | 10,000.00 USD |
420,000.01 - 9,999,999.99 | 5,000.00 USD |
Payment Information
Currency | USD |
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Buyer Premium | 10% Buyers Premium will be added |
Payment Terms |
A 10% Buyers Premium will be added to your purchases, and will be required as your Down Payment
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Shipping / Pick Up
No Shipping on Real Estate