By virtue of the power and authority contained in a Deed of Trust dated July 31, 2002 and recorded at Instrument Number 020003402 in the Clerk’s Office for the City of Salem
Virginia Circuit Court, Virginia, securing a loan which was originally $87,400.00. The appointed SUBSTITUTE TRUSTEE, Commonwealth Trustees, LLC will offer for sale at public auction at the front steps for the Circuit Court for the City of Salem located at 2 E Calhoun Street, Salem, VA 24153-7933.
September 28, 2023 at 10:00 AM improved real property, with an abbreviated legal description of the following described property, to wit:
BEGINNING at a point on the south side of Elizabeth Avenue, said point being N. 82 degs. 58` E. 339.50 feet from the intersection of Arch Street and Elizabeth Avenue; thence N. 82 degs. 58` E. 62.50 feet to an iron; thence S. 7 degs. 02` E. 158.05 feet to an
iron; thence S. 87 degs. 37` W. 62.71 feet to an iron; thence N. 7 degs. 02` W. 152.96 feet to the place of BEGINNING, and being part of Lots 7 and 8, Section 3, Map of Puckett Addition; and BEING the same property conveyed unto the Grantor herein by deed dated July 30, 2002 from James M. George and Buddy D. Mason and recorded in the aforesaid Clerk`s Office immediately prior hereto. AND as more fully described in the aforesaid Deed of Trust.
TERMS OF SALE: The property will be sold “AS IS,” WITHOUT REPRESENTATION OR
WARRANTY OF ANY KIND AND SUBJECT TO conditions, restrictions, reservations, easements, rights of way, and all other matters of record taking priority over the Deed of Trust to be announced at the time of sale. A deposit of $20,000 or 10% of the sale price, whichever
is lower, will be required at the time of sale, in the form of certified check, cashier’s check or money order by the purchaser. The balance of the purchase price, with interest at the rate contained in the Deed of Trust Note from the date of sale to the date said funds are received in the office of the SUBSTITUTE TRUSTEE, will be due within fifteen (15) days of sale. In the event of default by the successful bidder, the entire deposit shall be forfeited and applied to
the costs and expenses of sale and Substitute Trustee’s fee. All other public charges or
assessments, including water/sewer charges, whether incurred prior to or after the sale, and all other costs incident to settlement to be paid by the purchaser. In the event taxes, any
other public charges have been advanced, a credit will be due to the seller, to be adjusted from the date of sale at the time of settlement. Purchaser agrees to pay the seller’s attorneys at settlement, a fee of $470.00 for review of the settlement documents.
Additional terms will be announced at the time of sale and the successful bidder will be required to execute and deliver to the Substitute Trustees a memorandum or contract of the sale at the conclusion of bidding.
FOR INFORMATION CONTACT
Rosenberg & Associates, LLC
(Attorney for the Secured Party)
4340 East West Highway, Suite 600
Bethesda, MD 20814
301-907-8000
www.rosenberg-assoc.com
