Trustee Foreclosure Absolute Auction | 1 of 2 Assisted Living Facilities | March 25, 2020

Former Covington Manor | 4401 Midland Trail Covington, VA 24426


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Auction Specific Details

4401 Midland Trail Covington, VA 24426
This is the first of two assisted living facilities just outside of Covington, VA.

Check out our other auction here >> Tanglewood Home for Adults | 4607 Midland Trail Covington, VA 24426

  • Parcel ID: 03700-00-000-028A
  • Property Use: Seniors Housing
  • Zoning: Commercial
  • Property Acreage: 2.64+/-
  • Building square feet: 16,430
  • Year built: 1950
  • Tax Assessment: $370,900
  • Former ‘Covington Manor I’
  • 36 Assisted Living Units (86 Licensed Beds)
  • 27 Semi-Private Units | 4 Triple Units | 5 Quad Units
  • Fully Equipped Commercial Kitchen/Offices/Laundry
  • Room/Dining Room/Activity Area
  • Fire Sprinkler System with Alarms and hard wired
    smoke detectors
  • Storage Building and Parking for employees and visitors

TERMS AND CONDITIONS
4101 & 4607 Midland Trail Covington, VA 24426

1. REGISTRATION: Bids will only be accepted from registered bidders. You will be required to show your Driver’s License and Cash or your Cashier’s Check (in the amount of 10% of the high bid) to register to bid.
2. DEPOSIT: The successful bidders will be required to sign Memorandum of Sale, immediately following the falling of the hammer, and the Cash or Cashier’s Check, as described above, will be delivered to Substitute Trustee. The Deposit will be applied to the Purchase Price at closing. The Deposits are Non-Refundable, unless the seller cannot convey title. Closings to take place within 30 days of sale. Time is of the Essence.
3. DEED: The properties will be conveyed by Special Warranty Deeds.
4. ANNOUNCEMENTS: Announcements made on the day of sale, take precedence over all prior communications, both verbal and written, concerning the sale or the property.
5. BUYER’S PREMIUM: There will be a 5% Buyer’s Premium in effect on day of sale. The Buyer’s Premium added to the high bid amount, to determine the Contract Sales Price.
6. “AS-IS”, “WHERE-IS”: The property is being sold “AS-IS”, “WHERE-IS”. Potential Buyers must perform such independent investigations with respect to the property as they deem necessary to verify information provided by Auction Company or the Seller.
7. ADVERTISEMENTS: All information provided by Auction Company and the Seller is deemed reliable but is not warranted. The information contained in this brochure and any advertisements by Auction Company are subject to verification by all parties relying on it. No liability for its accuracy, error or omission is assumed by the Auction Company or the Seller.
8. REPRESENTATION: Auction Company and its representatives represent the Foreclosing Party.
9. BID INCREMENTS: Auctioneer reserves the right to set bid increments.

Specifications

Auction Date and Time: March 25, 2020 12:00 pm

Auction Location Address: 4401 Midland Trail Covington, VA 24426

Preview Date 1: 18/03/2020

Preview time 1: 10a-4p

Preview Date 2: 21/03/2020

Preview time 2: 10a-4p

Auction Type: Trustee Foreclosure Absolute Auction

Property Location: 4401 Midland Trail Covington, VA 24426

Online Bidding: Yes

Parcel ID: 03700-00-000-028A

Property Use: Seniors Housing

Zoning: Commercial- AR

Property Acreage: 2.64

Building square feet: 11,895 sq.feet

Year built: 1950

Tax Assessment: $370,900