The terms of sale shall be cash, or alternatively, a down payment of not less than 20% of the successful bid price in cash or certified check at time of sale, payable to the Clerk of the Circuit Court. High bids of $3,000.00 or less require full payment at the auction. The balance is due in ten days, also by cash or certified check. The bid price or down payment will be deposited with the Clerk of the Circuit Court and no bond shall be required of the Special Commissioners. The said real estate shall be sold, pursuant to Va. Code §58.1-3967, et seq., free of all claims of any creditor, person or entity as provided therein, and sold “as is,” in gross and not by the acre, and without any warranty or representations of any kind whatsoever regarding, without limitation, restrictions, conditions, easements, liens or encumbrances, possible rights of parties in possession, encroachments, overlaps, gaps and gores, deficiency in quantity, all questions of boundaries, location and acreage which a current and accurate survey would disclose, roadways, environmental and wetland matters, unrecorded easements, matters which would be disclosed by an inspection of the premises, or any other matter of record or not of record. Persons are encouraged to make a visual inspection of the property within the limits of the law and to obtain an independent title search prior to bidding on any of the properties. Bidders are strongly encouraged to make their own inspection to determine the suitableness of the property and it is assumed that all bidders will perform due diligence prior to the day of the auction. Any costs incurred by the bidder to inspect the property are at the expense of the bidder and are nonrefundable.
Before the Special Commissioners deliver a special warranty deed to the successful bidder, he shall report to this Court the result of this sale to be confirmed by the Court if the Court is of the opinion it should be.
