Details
The auction for this property will take place online and in-person on May 12th @ 11:00 AM, with the in-person auction being held on-site at 2712 Chamberlayne Ave, Richmond, VA 23222.
This is a foreclosure auction for 2712 Chamberlayne Ave, Richmond, VA 23222. This is a one story brick office building. The property is 4,424 SF and sits on +/- 0.64 acres with a 30+ space parking lot. The parcel is zoned UB-2 and is 4 minutes from I-64 and I-95, 2 minutes from Virginia Union University, and 9 minutes from VCU Monroe Park campus.
The property is being offered "as is, where is" with no warranties or representations of any sort. We will not make any representations to inquiring parties as to the physical condition of the property or as to any other matters.
Summary of Terms and Conditions:
Buyer’s Premium: 10% Buyers Premium added to the highest bid.
Approval to Bid: To be approved, all online bidders must register at least 24 hours prior to the start of the auction.
Deposit: Certified funds or cashier’s checks. A bidder’s deposit of Two Thousand Five Hundred Dollars ($2,500) or Ten Percent (10%) of the high bid, whichever is higher is required with settlement in full to be made within 30 days from the date of said Sale. A $2,500.00 deposit is to be paid by credit card immediately at the end of the auction sale. Any balance owed on the required deposit must be paid by wire transmission within twenty-four hours of the sale. Deposit will be held by the Substitute Trustee.
Broker Co-op: Up to 3% of the high bid may be paid to a properly registered broker/agent at settlement. Agents must register their buyers at least 24 hours prior to the auction.
Closing: 30 day closing, As-Is, no contingencies.
Agency Disclosure: Dudley Auctions Inc. dba Dudley Resources is acting as auctioneer/agent and is agent for the seller only.
Disclaimer: Information contained herein is believed to be correct to the best of Dudley Resources’ knowledge, but it is the sole responsibility of each Bidder to inspect and verify all information pertaining to the property. This property is subject to sale prior to auction event and may be withdrawn, modified or cancelled at any time without notice.
If you have any questions or inquiries regarding the property call Dudley Resources at (804)-709-1954
Location
Terms
TERMS AND CONDITIONS FOR THIS AUCTION EVENT FOR ONLINE BIDDING
This auction is held in accordance with the terms outlined in the Legal Notice of Sale (available under the Documents tab). The Memorandum of Sale is also provided. This is a simulcast auction. Bidders may submit bids both online and in person on site at the live auction.
Summary of Terms and Conditions:
Buyer’s Premium: 10% Buyers Premium added to the highest bid.
Approval to Bid: To be approved, all online bidders must register at least 24 hours prior to the start of the auction.
Deposit: Certified funds or cashier’s checks. A bidder’s deposit of Two Thousand Five Hundred Dollars ($2,500) or Ten Percent (10%) of the high bid, whichever is higher is required with settlement in full to be made within 30 days from the date of said Sale. A $2,500.00 deposit is to be paid by credit card immediately at the end of the auction sale. Any balance owed on the required deposit must be paid by wire transmission within twenty-four hours of the sale. Deposit will be held by the Substitute Trustee.
Broker Co-op: Up to 3% of the high bid may be paid to a properly registered broker/agent at settlement. Agents must register their buyers at least 24 hours prior to the auction.
Closing: 30 day closing, As-Is, no contingencies.
Agency Disclosure: Dudley Auctions Inc. dba Dudley Resources is acting as auctioneer/agent and is agent for the seller only.
Disclaimer: Information contained herein is believed to be correct to the best of Dudley Resources’ knowledge, but it is the sole responsibility of each Bidder to inspect and verify all information pertaining to the property. This property is subject to sale prior to auction event and may be withdrawn, modified or cancelled at any time without notice.
Full Terms and Conditions:
Bidder Approval: A deposit in an amount displayed on the Dudley Resources website or as communicated by Dudley Resources is required in order to become an approved Bidder and be able to place a bid during the auction event. Any such deposit will be required in the form of cash, certified funds, or credit card. Dudley Resources reserves the right to hold the deposit until the completion of the auction event and for a reasonable period of time to allow for the release of any such deposit and/or the return of any such funds after the conclusion of the auction. The online bidding platform shall place a minimal credit card hold at the time of online registration to confirm the validity of the credit card being used.
Bid Increments: Dudley Resources shall solely determine the bid increments for this auction event. Bid increments may be changed or modified from time to time during the auction event.
Bid Responsibility: Bidders are responsible for entering their bids and each Bidder shall be responsible for any and all bids placed under that approved Bidder’s number during the auction event. Bids placed by approved Bidders shall be considered final and will be recorded. Recorded bids may not be modified, retracted or rescinded.
Bidding Time: This auction is a timed auction event, which means that bidding is scheduled to begin and close at the times posted on the website for Dudley Resources. All time references on the bidding site for Dudley Resources are expressed in Eastern Time. It the responsibility of the bidder to check the Dudley Resources website regarding the scheduled opening and closing times for each timed auction event.
Buyer’s Premium: A Buyer’s Premium of ten percent (10%) will be added to the highest bid for the real property and included in the total price paid by the buyer.
Buyer’s Premium Example:
Purchase Price $50,000
10% Buyer’s Premium. + $5,000
Total Buyer Obligation = $55,000
Closing: The highest bidder must sign all documents and contracts within one (1) hour after the end of the auction event. All closings must occur within 30 days. TIME IS OF THE ESSENCE WITH REGARD TO ALL CLOSINGS! The subject Property is to be conveyed by Marketable Deed from the Substitute Trustee. The terms of the purchase agreement are non negotiable, and the highest bidder must sign the purchase agreement (Memorandum of Sale) in the name of the highest bidder or the highest bidder’s associated business entity. The purchase agreement and such other documents will set forth the specific terms and conditions of the sale, including the time by which the successful participant’s purchase of the property must be completed. It is the sole responsibility of each registered bidder to review all documents provided by Dudley Resources before making any bids at the auction event.
Closing Costs: The deed shall be prepared and acknowledged by Seller at Buyer’s expense and recorded at the expense of Buyer. The buyer shall pay all title searches, title insurance charges, survey expenses, usual conveyance expenses, and recordation taxes, including the Grantee’s Tax. Real estate taxes, rents, water and sewer charges, if any, will be prorated as of the date of the auction. Successful purchasers must pay all wire transfer fees. Sale of the property is not contingent upon the buyer obtaining financing.
Controlling Law: The rights and obligations of all parties regarding this auction event shall be governed and interpreted by the laws of the Commonwealth of Virginia. All registered Bidders shall be deemed to have consented to the jurisdiction of the state and federal courts of the Commonwealth of Virginia when making an offer at the auction event, whether present in-person or by agent, written offer, telephone, online or any other means.
Cooperating Broker/Agent Fee: Dudley Resources offers up to a three percent (3%) cooperating broker/agent fee to be paid to broker/agent representing the highest bidder for the real property (cooperating broker/agent fee based on highest offer and not including applicable buyer’s premium). Please contact Dudley Resources for full terms.
Default: If highest bidder defaults in making settlement, the deposit paid by that defaulting highest bidder shall be forfeited, and the property purchased by such defaulting highest bidder may either be resold at the risk and expense of such party or Seller may accept the next highest available offer at the sale. Such defaulting highest bidder shall be liable personally for any deficiency resulting from the resale of the property it purchased at a lower price as well as for all costs, expenses, and attorneys’ fees in connection with such resale. The forfeiture of such deposit shall not limit any rights or remedies of Seller with respect to any such default. Any successful Bidder who fails to submit an executed Purchase Contract, fails to make any required earnest money deposit, or fails to close in a timely manner may also be prohibited from bidding on future auctions conducted by Dudley Resources.
Deposit: A bidder’s deposit of Two Thousand Five Hundred Dollars ($2,500) or Ten Percent (10%) of the high bid, whichever is higher is required with settlement in full to be made within 30 days from the date of said Sale. A $2,500.00 deposit is to be paid by credit card immediately at the end of the auction sale. Any balance owed on the required deposit must be paid by wire transmission within twenty-four hours of the sale. Deposit will be held by the Substitute Trustee
Due Diligence: It is the sole responsibility of each Bidder to inspect the property; review the information documents relating to the property; assess the accuracy and completeness of the information contained in the Sale Brochure and any such other documents; and independently verify and confirm any estimates, projections, or assumptions relating thereto, none of which may be considered to be guaranties. Bidders are independently responsible for completing Due Diligence to their own satisfaction. By agreeing to these terms and conditions, the bidder represents that they have done so. Registered Bidders are aware of and agree to that the sale pursuant to this auction event is being made on an “as- is, where-is” basis, with no representations or warranties of any kind, expressed or implied, by the Seller and/or Dudley Resources.
Dudley Resources is not the owner of these assets, instead is contractually engaged for the sale of these assets on behalf of the owner (s). These assets are not advertised or being sold Absolute. Dudley Resources reserves the right to bid on behalf of the owner(s), up to the amount of the reserve.
All Bidders have the sole and exclusive responsibility to select and consult with any and all professional advisors in determining whether to place a bid at this auction event. All Bidders acknowledge that they have relied exclusively on their own investigation and determinations and the advice or their own professional advisors, and expressly represent that they have not relied upon any information provided by the Seller or Dudley Resources in any way.
Earnest Money Deposit: If you are the successful bidder, you may be required to provide an additional deposit in the form of a cashier’s check, wire transfer or credit card, within 24 hours or as specified by Dudley Resources at the conclusion of the auction event. The deposit is to be held by the Substitute Trustee.
Extended Bidding Time: This auction event is scheduled to begin on the “Starting Date and Time” and tentatively end on the “Scheduled Ending Date and Time” that are listed on the Dudley Resources website. If a bid is received during the last two (2) minutes before the Scheduled Ending Date and Time, an automatic extension feature in the online-bidding platform will extend the Scheduled Ending Date and Time and keep the auction event open for an additional two (2) minutes beyond the time that the last bid was received. This process will repeat every time a subsequent bid is received until the extension period has expired with no additional bids.
For example, if the extension period specified by the Dudley Resources is 2 minutes, and the scheduled ending time is 4 PM but a bid is placed at 3:59 PM, the auction event would automatically extend by 2 minutes and the auction event would close at 4:01 PM if no additional bids are placed during the extension time.
Highest Bid Acceptance: All offers are subject to review and approval by the Seller. Dudley Resources will inform the highest bidder once the highest bid has been considered. Dudley Resources reserves the right to accept the highest or best offer in the event this is not the same offer.
Inspection: The property is being sold “where is,” “as is,” “with all faults,” with no representations or warranties except for the general warranty to be included in the deed to the real property. All property descriptions and due diligence documents are provided by Dudley Resources as a service to customers and do not constitute a warranty, either expressed or implied. Placing a bid, whether in-person, by agent, through the online bidding platform, or any other means, constitutes an agreement by participant to these conditions of sale. Dudley Resources assumes no liability for errors or omissions in this or any other property listing or advertising or promotional/publicity statements andmaterials.
Maximum Bid: Registered Bidders will have the ability to submit a maximum bid amount (often called a “Max Bid”) through the online bid platform and to direct that our website bid on such bidder’s behalf in scheduled increments until the maximum amount identified by the bidder has been reached. If a Max Bid in the same amount as was previously authorized by another bidder’s max bid, the other bidder’s max bid as previously entered will be deemed to be the prevailing bid at that amount. In the event that there should be any dispute among bidders with regard to the identity or amount of the high bid, Dudley Resources reserves the right to reopen bidding and may, in conjunction with such reopening of the bidding, designate one of the bidders as the “High Bidder” at the sole discretion of Dudley Resources. All decisions by Dudley Resources shall be final.
Megan’s Law Disclosure: All interested bidders are solely responsible for conducting any investigation regarding registered sexual offenders prior to bidding and should exercise whatever due diligence they deem necessary with respect to information on registered sexual offenders who might live near a property being offered for sale. Such information may be obtained by contacting your local police department or the Department of State Police.
Registration: In order to register and place bids for this auction event, all interested bidders will be required to register on the Dudley Resources website, www.dudleyresources.com. All Bidders registering for this auction event must be at least eighteen (18) years of age and must be eligible to bid at the sole discretion of Dudley Resources, based on any past experiences with the registered bidder or otherwise. Registered Bidders may also be subject to verification through credit card information in the registration process through a third party service to verify the credit card has the appropriate funds necessary to register for this auction event.
If a prospective Bidder has been approved to bid at the auction event, the approved Bidder will receive email notification that they have been approved to bid at the auction event. Bidding rights are not absolute, and all registrations, even if successfully verified by credit card as described above, are subject to manual verification at any time by Dudley Resources. Dudley Resources also reserves the right to suspend or terminate any Bidder’s registration this auction at any time.
Technical Problems: Dudley Resources has made reasonable efforts to provide for online bidding for this auction event. All registered Bidders recognize and acknowledge, however, that technical problems with hardware, software, or internet connectivity, as well as human errors, may arise and may affect, without limitation, the Dudley Auctions website, the online bidding program and process, or internet service and access, and the registered Bidder’s connection to this auction event bidding program and process.
All registered Bidders further acknowledge that these and other technical problems may develop at any time with or without notice. All registered Bidders acknowledge and agree that neither Dudley Resources nor the Seller are in any way responsible for any such technical problems, and that registered Bidders have no absolute or other right to be able to bid on this auction in the event of any such technical problems.
Notwithstanding the foregoing, all registered Bidders further acknowledge and agree that, in the event of any such technical problems, Dudley Resources reserves the right to postpone or cancel the auction event and/or extend the bidding time for this auction event and/or schedule another auction event for the property, in the sole discretion of Dudley Resources, and that any decision with regard to any such actions is and will be final.
Terms Specific to This Auction Event: As noted above, Dudley Resources may provide Additional Terms and Conditions that are specific to this auction event or the property or properties being sold at this auction event. Such Additional Terms and Conditions may, but shall not necessarily be required to, relate to the following provisions, among others: extended bidding time; and bid increments.
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