Absolute Auction 35+/- Acres Commercial Residential

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At Auction, Inc. is pleased to have the opportunity to sell this mixed-use property to settle the Estate of Mr. Ray Glazebrook, Jr. Whether you are a “minor” or “major” investor, the potential held by this real estate makes it an auction NOT TO BE MISSED!

The term “rare” is overused in the advertising world, but this auction offering is truly a RARE one. Rarely do we have the opportunity to offer substantial commercial and residential acreage in a location with this much visibility and access! This undeveloped real estate consists of 4 parcels totaling 35+/- acres with B-2, combination B-2/R-1, and R-1 zoning, and is situated along the I-95 Northbound on-ramp at Rt. 17 (Exit #133 – Falmouth/Fredericksburg/Warrenton) directly behind, and adjacent to, a Howard Johnson’s Motel and Texaco quick mart service station. The topography is flat to rolling. The immediate vicinity is vastly developed with car dealerships, a major auto auction, Target, numerous restaurants, service stations, convenience stores, shopping centers, etc.… A highly visible location with HUGE daily traffic count (See VDOT traffic count attachment)! Long road frontage access is via Hornet’s Nest Rd., directly off Rt. 17 (Warrenton Rd.), just through the first traffic light after exiting I-95. Direct Rt. 17 ingress/egress is available via additional property to be sold on the same date/time (See Separate Listing of 1+/- Acre Commercial Property – Currently operated as a tire shop). Substantial additional acreage is now available from adjoining property owners, which could make this property part of a potentially MAJOR development (Call Bill Ross, Auction Coordinator for additional information).

This property WILL BE SOLD…. ABSOLUTE, to the HIGHEST BIDDER… REGARDLESS of PRICE!!! Current Stafford County tax assessment is approximately $5.5M – Come make it yours for YOUR price!

*ADDITIONAL INFORMATION, TERMS & SUPPORTING DOCUMENTS CAN BE FOUND IN ATTACHMENTS TO THIS LISTING*

Auction Held On-Site (378 Warrenton Rd.) - Rain or Shine

*For specific questions, please call BILL ROSS, AUCTION COORDINATOR at 540-220-1883*

Auctioneers: Buddy Updike, CAI #83 & Dan Pegelow, CAI CES #667

Auction Terms

This property is being sold As-Is, Where-Is with any & all faults, and subject to all laws, ordinances, easements, plats, titles, & any other matters of record. The real estate may be offered in separate parcels, as well as in combination. These Parcel(s) sells ABSOLUTE to the Highest Bidder – Regardless of Price! A 10% Buyer’s Premium will be added to the highest final bid and will become a part of the total contract price. A non-refundable deposit of 10% of the high bid amount on each parcel (or combination of parcels), in the form of Cash or Certified funds, made payable to At Auction, Inc., is due immediately following the auction with the balance due at closing NO LATER THAN December 30, 2009. Time Is Of The Essence. Obtaining financing, if needed, is the sole responsibility of the purchaser. No owner financing is being offered. The sale is not contingent upon the purchaser obtaining financing or any other matters. All bidders & purchasers hereby waive their rights to any post sale rights of rescission periods & understand the sale is immediately binding & irrevocable. No loan points payments, closing cost assistance, or any other purchase incentive is being offered. While all information regarding this real estate has been from derived sources deemed reliable and believed correct; neither the Sellers, Auction Firm, Facilitators, or their representatives; make any guarantees or warranties, expressed or implied whatsoever; regarding, without limitation; the structural integrity, physical condition, construction, extent of construction, workmanship, materials, habitability, zoning, ability to subdivide, fitness for a particular use or purpose, topography, soil type or content, functionality of any & all systems, availability of public utilities, or merchantability of all or any part of the property. Prospective purchasers shall rely solely upon information obtained through their own due diligence. Any reliance upon the information provided shall be solely at the risk of the bidders and purchasers. The Auctioneer retains the right to determine the bid increments &/or modify the deposit requirement. Some parcels, or a portion thereof, are currently under Land Use classification for real estate taxation purposed by Stafford County. Any changes in this Land Use classification by the Purchaser will result in roll-back taxes due. The Purchaser shall remain solely responsible for any roll-back taxes created by a change in classification. The Seller does NOT accept any responsibility for the payment of roll-back taxes. The Purchaser shall waive their rights to any rescission periods, lead-based paint disclosure forms or inspections, radon inspections, &/or any other home inspections; and shall accept the property As-Is. Should the Purchaser fail to comply with any portion of the Agreement To Purchase Real Estate Contract or Terms of Sale, and the Seller so elects, the property so struck down may be again put up for sale, and the Purchaser will be held liable for any costs and expenses of such resale, plus any deficiency there may be between the sum for which the property was to be purchased and the sales price of the property on resale, as well as any financial penalties and/or adverse tax consequences suffered by the Seller from Purchasers failure to close the transaction by the stated settlement date. These terms, signed by each purchaser, and all announcements made from the auction block become part of the agreement to purchase contract.