Online Auction of Three Homes
EXTENDED ONE WEEK DUE TO WEATHER
These three homes are in very poor condition and need a buyer to save them from demolition.
The Booth-Wyatt House 142 Chestnut Street
The James House 937-939 Green Street
The Longwell House 844 Pine Street
Viewing and Bidding Schedule
- Buyers MUST view a home IN PERSON before a bid on that home can be accepted or considered
- Request showings via email to info@oldwestendva.com
- If desired, inspectors or contractors may accompany buyer (no children)
- There are no utilities at these homes — bring a flashlight
- Bids will be accepted on this webpage through noon EDT on Friday, February
1926, 2021 (see below) - Bids received will be posted on this webpage at 1:00 p.m. and 7:00 p.m. daily
- Bidders may rebid in an amount at least $100 more than posted high bid before noon on Friday, February
1926, 2021 - Qualified high bids will be accepted by noon on Friday,
February 26March 5, 2021
Acceptance and Closing Schedule
- Upon acceptance, buyer must provide $5,000 earnest money and return signed terms and conditions by Friday, March 5, 2021
- Seller will revoke acceptance if buyer fails to do so and
- Seller will consider other qualified bids
- Closing must occur on or before April 30, 2021
- Buyer to pay closing cost fees
- Seller will revoke acceptance if buyer fails to do so and
- Seller will retain earnest money as liquidated damages and
- Seller will consider other qualified bids
- An additional $15,000 payment plus the bid price will be required at closing
- Deposit and additional payment (total $20,000) will be placed in an escrow account
- Escrow will be paid back to buyer on presentation of paid invoices for materials or contractor services
- Buyer will sign quit claim deed back to seller to be used only if buyer fails to perform the conditions below
Additional Terms and Conditions
- All work requiring construction permits must have permits before work begins
- Exterior work must abide by the Old West End Design Guidelines
- Exterior stabilization must begin within 45 days of closing and be complete within six months of closing
- Buyer must obtain certificate of occupancy within 18 months of closing
- If so, seller relinquishes quit claim deed and releases remaining escrow balance if any
- If not, seller records quit claim deed and retains escrow balance
- Buyer must reside in (not sell or rent) the home for a minimum of five years from the closing date
- If not, seller has right of first refusal to repurchase at market value
Questions
Questions may be emailed to Friends of the Old West End
Bids Received
The Booth-Wyatt House 142 Chestnut Street
As of February 21, 7:00 p.m. — No qualified bids received, bidders must visit to received award.
RS, Dublin — $100.00
The James House 937-939 Green Street
As of February 21, 7:00 p.m. — No qualified bids received, bidders must visit to received award.
JH, South Boston — $100.00
TB, Morrisville — $500.00
The Longwell House 844 Pine Street
As of February 21, 7:00 p.m. — No qualified bids received, bidders must visit to received award.
PW, Ocala — $1.00
EM, Montgomery — $1.00
JH, South Boston — $400.00