WATERFRONT - December 9th, 2024 - December 23rd, 2024 - City of Norfolk Trustee Auction

TRUSTEE AUCTION - 12/09/24 - 12/23/24

This auction will be Online Only!

This auction will be open for bidding on Monday, December 9th, 2024 @ 10:00 AM and will begin to close on Monday, December 23rd, 2024 @ 11:00 AM.

This auction is subject to auto-extend bidding.

A 10% Buyer’s Premium will be added to the high bid to determine the sale price of the property.

A deposit of $55,000 or 10% of the Sale Price, whichever is lower, is due the day of the sale by wire transfer, or overnighted check. Settlement in full shall be made within forty-five (45) days from the date of the expiration of the online bidding period. 

Deposits/Payments can be made with John P. Williams at 1010 Washington Ave NW, STE. 305, Washington, DC 20007, within 2 hours of close of auction.

**Note - If you are still pending approval after 12/09/24 at 10:00 AM, please call our office at 757-538-0123.**

NOTICE OF TRUSTEE’S SALE

Property: 966 W. Ocean View Ave, Norfolk, VA (GPIN # 1531293108), and

968 W. Ocean View Ave, Norfolk, VA (GPIN # 1531293351)

In execution of a certain Commercial Deed of Trust, Security Agreement, Assignment of Leases and Rents, and Fixture Filing in the original principal amount of $550,0000 dated September 28, 2023 and recorded as Instrument No. 230017252 in the Clerk’s Office of the Norfolk Circuit Court (the “Deed of Trust”), executed by Norfolk Ocean View Properties, LLC, a Delaware limited liability company (the “Owner”), originally to Thomas Westberg-Croessmann as Trustee, and JPW PC – Virginia, LLC (the “Substitute Trustee”) having been substituted as Trustee pursuant to a Deed of Removal of Trustee and Appointment of Substitute Trustee dated August 26, 2024 and recorded as Instrument No. 240014243 in the Clerk’s Office of the Norfolk Circuit Court, and default having been made in the payment of the indebtedness secured by the Deed of Trust, and having been requested to do so by the holder of the note evidencing the indebtedness (the “Noteholder”) secured by the Deed of Trust, the undersigned Substitute Trustee will offer for sale by public auction, the following described property with improvements thereon (the “Property”):

ALL THOSE certain lots, pieces or parcels of land lying, situate, and being in the City of Norfolk, State of Virginia, and known, numbered and designated as Lots Nos. Six (6), and Twenty-Two (22), in Block Twenty-One (21), as shown on the Plat of Willoughby Beach, which is duly of record in the Clerk’s Office of the Circuit Court of the City of Chesapeake, Virginia, in Map Book 5, at pages 80 and 81, said lots being of the dimensions shown on said plat, reference to which is hereby made, said lots, as a whole, fronting fifty (50) feet, more or less, on Chesapeake Bay Avenue and extending back between parallel lines three hundred (300) feet, more or less, to Ocean View Avenue, with a frontage of fifty (50) feet, more or less, on said last mentioned avenue.

Street address of the Property: 966 W. Ocean View Ave, Norfolk, VA and

968 W. Ocean View Ave, Norfolk, Virginia

Tax Map Number: 1531293108, and 1531293351

TIME, DATE, AND PLACE OF SALE: The sale will be conducted by online public auction, through the services of Virginia Auction Company, Inc., at www.vaauctionco.com. Bidding starts on Monday, December 9, 2024, at 10:00 am, and expires on Monday, December 23, 2024, at 11:00 am. All bids shall be submitted here: https://bid.vaauctionco.com/ui

THIS SALE is subject to all conditions, rights-of-way, easements, and reservations contained in the deeds forming the chain of title to the Property, and subject to any and all liens, including, but not limited to, filed and unfiled mechanics’ and materialmens’ liens, to the extent that any of the foregoing may lawfully apply to the Property or any part thereof, and take priority over the liens and security interests of the Deed of Trust.

WARRANTIES: THE PROPERTY AND ALL IMPROVEMENTS LOCATED THEREON WILL BE SOLD IN THEIR “AS IS, WHERE IS” CONDITION WITHOUT WARRANTY OF ANY KIND, INCLUDING, WITHOUT LIMITATION, THE PHYSICAL CONDITION, CONSTRUCTION, STRUCTURAL INTEGRITY, WORKMANSHIP, HABITABILITY, FITNESS FOR A PARTICULAR PURPOSE, MERCHANTBILITY, MATERIALS, ZONING, OR ENVIRONMENTAL CONDITION.

All bidders recognize and agree that any investigation, examination, or inspection of the Property is within the control of the Owner and not within the control of the Substitute Trustee

TERMS OF SALE: ALL CASH. The Property will be sold to the bidder that submitted the highest bid prior to the expiration of the online bidding period. A ten percent (10%) premium will be added to the highest bid to determine the actual sales price for the Property. By submitting a bid, each bidder agrees that the actual sale price for the Property shall be the amount of their bid plus the ten percent (10%) premium. Following the expiration of the online bidding period, the highest bidder will be required to sign a Trustee’s Memorandum of Sale, in form and substance reasonably acceptable to the Substitute Trustee. A bidder’s deposit of $55,000, or ten percent (10%) of sale price, whichever is lower, will be required of the highest bidder following the expiration of the online bidding period. The highest bidder shall pay for all recording charges, settlement fees, and all costs of conveyancing the Property to the highest bidder. Transfer of title to the Property to the highest bidder shall be by Trustee’s Deed. Settlement in full shall be made within forty-five (45) days from the date of the expiration of the online bidding period. The Substitute Trustee reserves the right to extend the 45-day deadline for settlement as may be necessary. Risk of loss or damage to the Property shall be borne by the highest bidder starting from the expiration of the online bidding period. Real estate taxes, assessments, and other public charges against the Property shall be prorated to the date of the expiration of the online bidding period, such that the highest bidder shall be responsible for the payment of all real estate taxes, assessments, and other public charges beginning as of the expiration of the online bidding period.

In the event the Substitute Trustee deems it best for any reason at the time of sale to postpone, suspend, or continue the Trustee’s Sale, the Substitute Trustee may do so, in accordance with the terms of the Deed of Trust and/or applicable.

In the event of default by the highest bidder, the Property may be sold at the expense of the defaulting highest bidder, and the defaulting highest bidder shall be liable for any amount by which the ultimate sales price for the Property is less than the bid submitted by the defaulting highest bidder. In addition, the deposit paid by the defaulting highest bidder shall be forfeited and applied to the costs of the sale and to the secured indebtedness. After any default and forfeiture of deposit, the Property may, at the discretion of the Substitute Trustee, be conveyed to the next highest bidder at the Trustee’s Sale.

Should the Substitute Trustee be unable, for any reason, in the Substitute Trustee’s reasonable discretion, to convey marketable title to the highest bidder, the highest bidder’s sole remedy in law or equity shall be the return of the bidder’s deposit. Upon refund of the deposit, the sale shall be void and of no effect.

Bidding:  The auction software and our online bidding platform will notify bidders by email if they have been outbid.  Please consider using the “Max Bid” feature as this will allow the software to bid on your behalf up to, but not exceeding, your Max Bid.  If two or more bidders put in the same Max Bid, the auction software will recognize the earliest placed bid. The real estate is offered for sale to all persons without regard to race, color, religion, sex, handicap, familial status or national origin. 

Auction Ending:  The Auction is scheduled to end at the published end time, subject to auto-extend bidding.  Each time a bid is placed with the clock showing less than 2 minutes, the clock will reset to 2 minutes.  If there are no bids within 2 minutes, the auction will end.  This procedure prohibits any last second “sniping'"from taking place and making it fair for everyone.  In the event the auto-extend time needs to be reduced, Virginia Auction Company, Inc. reserves the right to adjust the auto-extend, as needed. Virginia Auction Company, Inc. also reserves the right to open closed lots back up at the end of the auction for bidding. The lots will close in 2 minute intervals starting with Lot 1 @ 11:00AM and Lot 2 @ 11:05AM and so on.

Closing: All properties being sold are subject to confirmation from the Trustee, John P. Williams, Esq..

High Bids: If you are the high bidder for a property and are using our online platform to participate in our auction, you will be sent a Purchase Agreement for electronic signature. You must electronically sign the Purchase Agreement within thirty (30) minutes of receiving the Purchase Agreement for that property. If you fail to sign the Purchase Agreement within this timeframe, you are agreeing to forfeit your entire deposit. Virginia Auction Company, Inc. reserves the right to revoke all bidding privileges for any bidder, whether participating online or in-person, that does not fully comply with all terms and conditions set forth for this auction.

Bidding: The Auctioneer reserves the right to accept or reject any and all bids either live or online. Virginia Auction Company, Inc. is not responsible for failed execution of bids due to bidder’s technological difficulties or issues.

Technical Issues: Virginia Auction Company, Inc. has made reasonable efforts to provide for online bidding for this sale. You recognize and acknowledge, however, that technical problems with hardware, software, or internet connectivity, as well as human errors, may arise and may affect, without limitation, the sale website, our online bidding program and process, your or our internet service and access, and your connection to this sale bidding program and process. You further acknowledge that these and other technical problems may develop at any time and with or without notice. You acknowledge and agree that neither we nor the Special Commissioner is in any way responsible for any such technical problems, and that you have no absolute or other right to be able to bid on this sale in the event of any such technical problems. Notwithstanding the foregoing, you further acknowledge and agree that, in the event of any such technical problems we reserve the right to postpone or cancel the sale and/or extend the bidding time for this sale and/or relist the property for sale at another time, in our sole discretion, and that our decision with regard to any such actions is and will be final. Bidders must take care in entering bids, and each bidder will be responsible for all bids placed under the Bidder’s approved registration. Once entered and recorded online, a bid is deemed to be final on behalf of the registered Bidder and may not be modified, retracted, or rescinded in whole or in part.