Real Estate Auction
Listing ID#: 243721

Sale Location

Portsmouth, VA 23704
Sale Dates and TimesSALE IS COMPLETED
Thursday Oct 31, 2019 Completed
Sale Type
 Live Auction 
Company Information
Progressive Auction and Real Estate Co. LLC

Contact: Joe Joyner
Phone: 757-478-9630
Email: Progressiveauctionsva@gmail.com
Website: progressiveauctionsva.com

EstateSale.com ID#: 6207
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Listing Terms and Conditions
VA FIRM 2908000809 NC Lic. 8572

Terms: 10% nonrefundable down payment prior to or on auction day certified check, cash or wire transfer will be accepted as down payment. Balance due at closing.
Buyers’ Premium: A 10% nonrefundable buyer’s premium will be added to the high bid to determine the purchase price of the property.
Agent for the Seller: Progressive Auction and Real Estate Co., LLC is acting as the agent for the seller.
Additional Conditions:
1. There are no minimum starting bids required for the property; however, Seller reserves the right to accept or reject all offers on the property. The auction shall be recorded, and if any disputes arise following the auction, the Auctioneer’s recorded records will be final in all aspects.
2. Bidders are invited and encouraged to inspect property as to any structural, hazardous, asbestos, or environmental conditions relating thereto prior to submitting a bid. The bidder gives up rights to inspections once his/her bid is submitted. Bidders are advised that houses built prior to 1978 may contain lead-based paint. The auctioneer will assist bidders in obtaining any such authorizations that may be required in order to carry out any such inspections prior to submitting a bid. Bidders shall be deemed to have relied solely on their own judgment in assessing the overall condition of all or any part of the property. The Auctioneer or his representatives, Sellers, and his/her representatives are offering this property, AS IS, WHERE IS and HOW IS condition with all faults, without any warranty expressed or implied, of any kind or character, including without limitations, any warranty of habitability or fitness for a particular purpose. The Auctioneer makes no representation as to whether any parcel is classified as a buildable site. Seller and the Auctioneer and their agents shall not be liable for any damages, whether actual or direct or incidental, including without limitation, damages for loss of use or loss of income occurring by reason of condition of such property.
3. Commercial properties being purchased under these terms will be subject to these terms where appropriate and will not be subject to any required permits or licenses required or any other particular requirement to open or operate any type of business. The commercial property is also being sold in a as is, where is, and how is condition including but not limited to use for a particular purpose.
4. Taxes, sizes and square footage set forth for the property are approximations only, based on best information available, but actual taxes, sizes and square footage may be different.
5. The Seller and Auctioneer have the right to withdraw the property, postpone or cancel the auction at their sole discretion without notice and to modify or add any terms and conditions either prior to or at the auction. The Seller has the right to accept or reject any and all offers in reference to the listed property in this auction sale.
6. Persons buying in the Name of Trust, Partnerships, Corporations, or with a Power of Attorney must have the authorizing documents examined prior to the auction by a representative designated by the Seller.
7. Closing will be conducted by the Purchaser’s attorney and all costs legally chargeable to the Purchaser will be paid by the Purchaser.
8. This property is being offered for sale to purchasers without regard to prospective race, color, religion, sex, marital status, or national origin.
PROPERTIES MAY BE ADDED OR DELETED UNTIL THE TIME OF SALE
All information was obtained from sources deemed reliable. The Auctioneer and his agents will not be responsible for any errors or omissions herein. Oral representations cannot be relied upon as correct. However, announcements made on sale day take precedence over written matter. Conduct of the auction and increments of the sale shall be at the sole discretion of the Auctioneer.
Signature__________________________________________ DATE _______________________________
Address______________________________________ City ________________________________ State______________
Phone No .__________________________ Email _____________________________________________ Bid # ___________
Listing Information

Information available at Progressiveauctionsva.com

 

This auction consist of six apartment unit in each of the two buildings at this location.  Units 1007 thru 1017 is in one building and units 1021 thru 1031 is in the second building.  Each unit is seperate and con be sold off as a condo.  Each unit has its' own tax assessment.  All units are currently rented and have been rentivated.  Parking is available is available for each unit.  Units 1007 thru 1017 is currently rented at $800.00 each totaling $4,800.00 income per month.  Units 1021 has a rent of $900.00 per month and unit 1025 has a rent of $850.00 per month.  Units 1023, 1027, 1029, and 1031 has a rent of $800 per month totaling $4950.00 per month.  Insurance for units 1007 thru 1017 is $2350 per year, units 1021 thru 1025 is $1,330 per year and units 1027 thru 1031 is $890.00 per year.  All insurance has just been paid for the year.  Taxes for all units per year is $12,670.04 per year.

Tax assessment for each unit is as follows;

Unit 1007  $68,180.00                                        Unit 1009  $72,110.00

Unit 1011   $74,880.00                                       Unit 1013  $68,180.00

Unit 1015   $74,560.00                                       Unit 1017  $72,110.00

Unit 1021   $68,180.00                                       Unit 1023  $74,590.00

Unit 1025   $72,110.00                                       Unit 1027  $68,180.00

Unit 1029   $74,620.00                                       Unit 1031  $72,110.00

These units are right in the down town area of the City of Portsmouth close to the City offices, Norfolk Naval Shipyard, Naval Hospital, very nice restaurants and shopping areas.  They are right near the downtown tunnel and 264 interstate.  If you work in the downtown area of Norfolk there is even a ferry that crosses the river on a regular bases.

These properties can be purchased prior to the auction date by contacting the auction company.  Inspections will be set up on an appointment bases due to all units being rented.  All of these units are in two LLC's so your only cost would to be tranfering your name (s) or company names to the LLC's.  The units are currently being managed by a well known attorney in Portsmouth that will help with all transferes and may be willing to continue managing the units for you after purchase.  You can submit your offers by auction purchase contract and all offers will be presented to the responsible parties as they are submitted.  Please review the terms and conditions of this sale prior to submitting any offers.  All terns and conditions are strictly followed as well as the auction sales contract.  These are not stress properties but the owners would like to sell the properties and retire from the business.

Broker participation is allowed but they must abide by the terms of the auction terms and conditions as well as the auction contract.  1.  The broker must submit a letter from their company on their letterhead stating the broker or agent that is representing their client and name that client in the letter.  2.  They must either submit or be present with their client when submitting an offer on the auction sales contract.  3.  Their client must be declared the high bidder on the property and close on the property within the terms of the sales contract.  In the event all three requirements has been fulfilled they would recieve a 2% finders fee from the seller of the property of the sales price of the property.

Each unit has two bedrooms and eight of the units has a bath and a half bath.  The sq. footages for each unit is slightly different but range fro 765 to 850 sq. ft.
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Real Estate Auction

Progressive Auction and Real Estate Co. LLC

Progressive Auction and Real Estate Co. LLC

Contact: Joe Joyner
Phone: 757-478-9630
Sale Location
1007-1031 Green St.
Portsmouth, VA 23704
Sale Dates and Times
Thursday Oct 31, 2019 Completed
Sale Terms and Conditions
VA FIRM 2908000809 NC Lic. 8572 Terms: 10% nonrefundable down payment prior to or on auction day certified check, cash or wire transfer will be accepted as down payment. Balance due at closing. Buyers’ Premium: A 10% nonrefundable buyer’s premium will be added to the high bid to determine the purchase price of the property. Agent for the Seller: Progressive Auction and Real Estate Co., LLC is acting as the agent for the seller. Additional Conditions: 1. There are no minimum starting bids required for the property; however, Seller reserves the right to accept or reject all offers on the property. The auction shall be recorded, and if any disputes arise following the auction, the Auctioneer’s recorded records will be final in all aspects. 2. Bidders are invited and encouraged to inspect property as to any structural, hazardous, asbestos, or environmental conditions relating thereto prior to submitting a bid. The bidder gives up rights to inspections once his/her bid is submitted. Bidders are advised that houses built prior to 1978 may contain lead-based paint. The auctioneer will assist bidders in obtaining any such authorizations that may be required in order to carry out any such inspections prior to submitting a bid. Bidders shall be deemed to have relied solely on their own judgment in assessing the overall condition of all or any part of the property. The Auctioneer or his representatives, Sellers, and his/her representatives are offering this property, AS IS, WHERE IS and HOW IS condition with all faults, without any warranty expressed or implied, of any kind or character, including without limitations, any warranty of habitability or fitness for a particular purpose. The Auctioneer makes no representation as to whether any parcel is classified as a buildable site. Seller and the Auctioneer and their agents shall not be liable for any damages, whether actual or direct or incidental, including without limitation, damages for loss of use or loss of income occurring by reason of condition of such property. 3. Commercial properties being purchased under these terms will be subject to these terms where appropriate and will not be subject to any required permits or licenses required or any other particular requirement to open or operate any type of business. The commercial property is also being sold in a as is, where is, and how is condition including but not limited to use for a particular purpose. 4. Taxes, sizes and square footage set forth for the property are approximations only, based on best information available, but actual taxes, sizes and square footage may be different. 5. The Seller and Auctioneer have the right to withdraw the property, postpone or cancel the auction at their sole discretion without notice and to modify or add any terms and conditions either prior to or at the auction. The Seller has the right to accept or reject any and all offers in reference to the listed property in this auction sale. 6. Persons buying in the Name of Trust, Partnerships, Corporations, or with a Power of Attorney must have the authorizing documents examined prior to the auction by a representative designated by the Seller. 7. Closing will be conducted by the Purchaser’s attorney and all costs legally chargeable to the Purchaser will be paid by the Purchaser. 8. This property is being offered for sale to purchasers without regard to prospective race, color, religion, sex, marital status, or national origin. PROPERTIES MAY BE ADDED OR DELETED UNTIL THE TIME OF SALE All information was obtained from sources deemed reliable. The Auctioneer and his agents will not be responsible for any errors or omissions herein. Oral representations cannot be relied upon as correct. However, announcements made on sale day take precedence over written matter. Conduct of the auction and increments of the sale shall be at the sole discretion of the Auctioneer. Signature__________________________________________ DATE _______________________________ Address______________________________________ City ________________________________ State______________ Phone No .__________________________ Email _____________________________________________ Bid # ___________
Listing Details

Information available at Progressiveauctionsva.com

 

This auction consist of six apartment unit in each of the two buildings at this location.  Units 1007 thru 1017 is in one building and units 1021 thru 1031 is in the second building.  Each unit is seperate and con be sold off as a condo.  Each unit has its' own tax assessment.  All units are currently rented and have been rentivated.  Parking is available is available for each unit.  Units 1007 thru 1017 is currently rented at $800.00 each totaling $4,800.00 income per month.  Units 1021 has a rent of $900.00 per month and unit 1025 has a rent of $850.00 per month.  Units 1023, 1027, 1029, and 1031 has a rent of $800 per month totaling $4950.00 per month.  Insurance for units 1007 thru 1017 is $2350 per year, units 1021 thru 1025 is $1,330 per year and units 1027 thru 1031 is $890.00 per year.  All insurance has just been paid for the year.  Taxes for all units per year is $12,670.04 per year.

Tax assessment for each unit is as follows;

Unit 1007  $68,180.00                                        Unit 1009  $72,110.00

Unit 1011   $74,880.00                                       Unit 1013  $68,180.00

Unit 1015   $74,560.00                                       Unit 1017  $72,110.00

Unit 1021   $68,180.00                                       Unit 1023  $74,590.00

Unit 1025   $72,110.00                                       Unit 1027  $68,180.00

Unit 1029   $74,620.00                                       Unit 1031  $72,110.00

These units are right in the down town area of the City of Portsmouth close to the City offices, Norfolk Naval Shipyard, Naval Hospital, very nice restaurants and shopping areas.  They are right near the downtown tunnel and 264 interstate.  If you work in the downtown area of Norfolk there is even a ferry that crosses the river on a regular bases.

These properties can be purchased prior to the auction date by contacting the auction company.  Inspections will be set up on an appointment bases due to all units being rented.  All of these units are in two LLC's so your only cost would to be tranfering your name (s) or company names to the LLC's.  The units are currently being managed by a well known attorney in Portsmouth that will help with all transferes and may be willing to continue managing the units for you after purchase.  You can submit your offers by auction purchase contract and all offers will be presented to the responsible parties as they are submitted.  Please review the terms and conditions of this sale prior to submitting any offers.  All terns and conditions are strictly followed as well as the auction sales contract.  These are not stress properties but the owners would like to sell the properties and retire from the business.

Broker participation is allowed but they must abide by the terms of the auction terms and conditions as well as the auction contract.  1.  The broker must submit a letter from their company on their letterhead stating the broker or agent that is representing their client and name that client in the letter.  2.  They must either submit or be present with their client when submitting an offer on the auction sales contract.  3.  Their client must be declared the high bidder on the property and close on the property within the terms of the sales contract.  In the event all three requirements has been fulfilled they would recieve a 2% finders fee from the seller of the property of the sales price of the property.

Each unit has two bedrooms and eight of the units has a bath and a half bath.  The sq. footages for each unit is slightly different but range fro 765 to 850 sq. ft.
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Real Estate Auction
 Live Auction
 
Sale Date(s)
Thursday Oct 31, 2019 Completed
Sale Location

Portsmouth, VA 23704
Company
Progressive Auction and Real Estate Co. LLC

Contact: Joe Joyner
Phone: 757-478-9630
Email: Progressiveauctionsva@gmail.com
Website: progressiveauctionsva.com

Listing Terms and Conditions
VA FIRM 2908000809 NC Lic. 8572 Terms: 10% nonrefundable down payment prior to or on auction day certified check, cash or wire transfer will be accepted as down payment. Balance due at closing. Buyers’ Premium: A 10% nonrefundable buyer’s premium will be added to the high bid to determine the purchase price of the property. Agent for the Seller: Progressive Auction and Real Estate Co., LLC is acting as the agent for the seller. Additional Conditions: 1. There are no minimum starting bids required for the property; however, Seller reserves the right to accept or reject all offers on the property. The auction shall be recorded, and if any disputes arise following the auction, the Auctioneer’s recorded records will be final in all aspects. 2. Bidders are invited and encouraged to inspect property as to any structural, hazardous, asbestos, or environmental conditions relating thereto prior to submitting a bid. The bidder gives up rights to inspections once his/her bid is submitted. Bidders are advised that houses built prior to 1978 may contain lead-based paint. The auctioneer will assist bidders in obtaining any such authorizations that may be required in order to carry out any such inspections prior to submitting a bid. Bidders shall be deemed to have relied solely on their own judgment in assessing the overall condition of all or any part of the property. The Auctioneer or his representatives, Sellers, and his/her representatives are offering this property, AS IS, WHERE IS and HOW IS condition with all faults, without any warranty expressed or implied, of any kind or character, including without limitations, any warranty of habitability or fitness for a particular purpose. The Auctioneer makes no representation as to whether any parcel is classified as a buildable site. Seller and the Auctioneer and their agents shall not be liable for any damages, whether actual or direct or incidental, including without limitation, damages for loss of use or loss of income occurring by reason of condition of such property. 3. Commercial properties being purchased under these terms will be subject to these terms where appropriate and will not be subject to any required permits or licenses required or any other particular requirement to open or operate any type of business. The commercial property is also being sold in a as is, where is, and how is condition including but not limited to use for a particular purpose. 4. Taxes, sizes and square footage set forth for the property are approximations only, based on best information available, but actual taxes, sizes and square footage may be different. 5. The Seller and Auctioneer have the right to withdraw the property, postpone or cancel the auction at their sole discretion without notice and to modify or add any terms and conditions either prior to or at the auction. The Seller has the right to accept or reject any and all offers in reference to the listed property in this auction sale. 6. Persons buying in the Name of Trust, Partnerships, Corporations, or with a Power of Attorney must have the authorizing documents examined prior to the auction by a representative designated by the Seller. 7. Closing will be conducted by the Purchaser’s attorney and all costs legally chargeable to the Purchaser will be paid by the Purchaser. 8. This property is being offered for sale to purchasers without regard to prospective race, color, religion, sex, marital status, or national origin. PROPERTIES MAY BE ADDED OR DELETED UNTIL THE TIME OF SALE All information was obtained from sources deemed reliable. The Auctioneer and his agents will not be responsible for any errors or omissions herein. Oral representations cannot be relied upon as correct. However, announcements made on sale day take precedence over written matter. Conduct of the auction and increments of the sale shall be at the sole discretion of the Auctioneer. Signature__________________________________________ DATE _______________________________ Address______________________________________ City ________________________________ State______________ Phone No .__________________________ Email _____________________________________________ Bid # ___________

Information available at Progressiveauctionsva.com

 

This auction consist of six apartment unit in each of the two buildings at this location.  Units 1007 thru 1017 is in one building and units 1021 thru 1031 is in the second building.  Each unit is seperate and con be sold off as a condo.  Each unit has its' own tax assessment.  All units are currently rented and have been rentivated.  Parking is available is available for each unit.  Units 1007 thru 1017 is currently rented at $800.00 each totaling $4,800.00 income per month.  Units 1021 has a rent of $900.00 per month and unit 1025 has a rent of $850.00 per month.  Units 1023, 1027, 1029, and 1031 has a rent of $800 per month totaling $4950.00 per month.  Insurance for units 1007 thru 1017 is $2350 per year, units 1021 thru 1025 is $1,330 per year and units 1027 thru 1031 is $890.00 per year.  All insurance has just been paid for the year.  Taxes for all units per year is $12,670.04 per year.

Tax assessment for each unit is as follows;

Unit 1007  $68,180.00                                        Unit 1009  $72,110.00

Unit 1011   $74,880.00                                       Unit 1013  $68,180.00

Unit 1015   $74,560.00                                       Unit 1017  $72,110.00

Unit 1021   $68,180.00                                       Unit 1023  $74,590.00

Unit 1025   $72,110.00                                       Unit 1027  $68,180.00

Unit 1029   $74,620.00                                       Unit 1031  $72,110.00

These units are right in the down town area of the City of Portsmouth close to the City offices, Norfolk Naval Shipyard, Naval Hospital, very nice restaurants and shopping areas.  They are right near the downtown tunnel and 264 interstate.  If you work in the downtown area of Norfolk there is even a ferry that crosses the river on a regular bases.

These properties can be purchased prior to the auction date by contacting the auction company.  Inspections will be set up on an appointment bases due to all units being rented.  All of these units are in two LLC's so your only cost would to be tranfering your name (s) or company names to the LLC's.  The units are currently being managed by a well known attorney in Portsmouth that will help with all transferes and may be willing to continue managing the units for you after purchase.  You can submit your offers by auction purchase contract and all offers will be presented to the responsible parties as they are submitted.  Please review the terms and conditions of this sale prior to submitting any offers.  All terns and conditions are strictly followed as well as the auction sales contract.  These are not stress properties but the owners would like to sell the properties and retire from the business.

Broker participation is allowed but they must abide by the terms of the auction terms and conditions as well as the auction contract.  1.  The broker must submit a letter from their company on their letterhead stating the broker or agent that is representing their client and name that client in the letter.  2.  They must either submit or be present with their client when submitting an offer on the auction sales contract.  3.  Their client must be declared the high bidder on the property and close on the property within the terms of the sales contract.  In the event all three requirements has been fulfilled they would recieve a 2% finders fee from the seller of the property of the sales price of the property.

Each unit has two bedrooms and eight of the units has a bath and a half bath.  The sq. footages for each unit is slightly different but range fro 765 to 850 sq. ft.