Every parcel of land purchased will be paid for by separate check. The reason for this is that we have to open a separate bank account for each individual suit.
You must give the following information to my secretary or clerk during or immediately after the sale:
Your full name and address (including zip code).
Your occupation or name of your principal.
Your home and business telephone numbers.
Your business address or business card.
How you want your deed made out, that is, to whom shall the property be deeded.
A cashier's check or cash deposit for at least one-third (1/3) of the actual purchase price (no less) is required at the sale.
You must settle in full within fourteen (14) days of the sale date, irrespective of any title examinations, surveys or physical inspections you may wish to make of the property.
You will receive a Special Warranty Deed to the property, and a large copy of the City Assessor's map or a photocopy thereof showing you the property. You may also be required to sign an Assignment of Bid if someone other than the bidder is taking title. You have no costs other than the purchase price and recording your own deed, which runs $.20 cents per $100 of purchase price, ($.15 for State tax and $.05 for Local Tax) plus $30 Clerk's Fee. We reserve the right to record your deed.
All sales are subject to confirmation and approval by the Court.
You may be required to give proof of ability to pay for any property on which you are high bidder if you are unknown to the undersigned Special Commissioner.
Purchasers must pay the real estate taxes for the quarter in which the sale takes place, as they are not prorated.
Do not bid on the property unless you fully intend to buy and you can fully pay for same within fourteen (14) days. Tax suit sales are extremely complicated and expensive to put on.
Failure to fully settle on said sale within the 14-day time period may result in forfeiture of your deposit if so ordered by the Court, or in your being responsible for all expenses relating to this chancery suit and sale.
Ronald D. Slaven, Jr., Special Commissioner Slaven Law Group 308 George Washington Highway N, Suite 1 Chesapeake, VA 23323 757-547-8080