Details
- Highly Visible Commercial Retail Location | Fast Food | Restaurant Potential |
- 2,180 +/- sf | Zoned C1 | Trustee Sale | Newport News, VA
- Trustee Sale on Wednesday, May 25, 2022 from 1:00 p.m. to 1:30 p.m.
- OPEN FOR INSPECTION on Tuesday, May 24th
- from 12:00 - 2:00 P.M.
- Sale Held at the property at
- 14624 Warwick Blvd., Newport News, VA 23608
- For More Information:
- Call Ernie Rogers at 804-334-4558
- ERogers@Motleys.com
Terms
TRUSTEES’ SALE:
14624 WARWICK BLVD.
NEWPORT NEWS, VIRGINIA
The captioned property will be offered for sale at public auction conducted pursuant to the terms of the following deed of trust (the “Deed of Trust”) granted by TUY QUOC NGUYEN and ANH LUCILE T.N. NGUYEN: an instrument dated as of April 22, 2003, recorded in the Clerk’s Office in Book 1800 at Page 1984, as modified (the “Deed of Trust”). This sale will be conducted by one or both of the undersigned substitute trustees (collectively, the “Trustee”), by and through the auction firm of Motleys Real Estate (the “Auctioneer”), pursuant to the request and at the direction of the holder of the obligations secured by the Deed of Trust (the “Beneficiary”), at the premises, located at 14624 Warwick Blvd., Newport News, Virginia, at 1:00 p.m. on Wednesday, May 25, 2022.
The encumbered property (the “Property”) is briefly identified as:
14624 Warwick Blvd.
Lot 1160, Beechwood Sec. 24
Plat Book 8, Page 27
Tax Map No. 108000102
Together with all personal property rights
granted under a security agreement dated
April 16, 2019, per Va. Code §8.9A-604(a)(2).
TERMS OF SALE: Cash. The Property (including the associated personal property rights and interests) will be offered for sale "AS IS, WHERE IS" and will be conveyed by special warranty deed and by bill of sale (transfer statement) subject to all encumbrances, rights, reservations, covenants, conditions, easements, restrictions and statutory liens, if any, having priority over the Deed of Trust or over the associated personal property lien interests. The Trustee, the Auctioneer and Beneficiary make no representation or warranty whatsoever as to the existence, validity, survival or terms of any lease, and no credit shall be given against the purchase price for any security deposit associated with any such lease.
Except for the special warranty contained in the deed, the Trustee, the Auctioneer and the Beneficiary disclaim all warranties of any kind for the Property, including without limitation any warranty relating to the zoning, physical or environmental condition, fitness for a particular purpose and merchantability. The risk of loss or damage to the Property shall be borne by the successful bidder from and after the date and time of sale, and such purchaser shall assume all obligations for continuation of utility services to the Property. Securing possession and control of the Property, including locating and securing the personal property assets, shall be the sole responsibility of the successful bidder.
A bidder's deposit in cash or by certified or cashier's check of at least ten percent (10%) of any amount bid must be shown to the Trustee for such bid to be accepted, subject to bidder prequalification. The successful bidder, other than the Beneficiary, shall also be required to pay at closing an additional ten percent (10%) buyer’s premium on top of the high bid amount. Immediately after the sale, the successful bidder shall execute a contract of sale with the Trustee, a form of which is available for review upon request, and shall deliver to the Trustee the required deposit. Settlement in full shall be made in cash at 223 E. City Hall Avenue, Suite 201, Norfolk, Virginia, within 30 days of sale, time being of the essence. Additional procedures, terms and conditions may be announced at the sale, and shall control.
PETER G. ZEMANIAN
PAUL A. DRISCOLL
Substitute Trustees
FOR INFORMATION CONTACT:
Peter G. Zemanian
223 East City Hall Avenue, Suite 201
Norfolk, Virginia 23510
(757) 622-0090
pete@zemanianlaw.com
