SELLING REGARDLESS OF PRICE
Rapidan Golf Course & 8 Land Tracts
35448 Somerset Ridge Road, Locust Grove, VA 22508
Selling Online Only
AUCTION BID DEADLINES: Wednesday, May 6th @ 11 AM & 12 NOON EST
(Please Note NEW Auction Bid Deadline Date)
Click HERE for Flyover Video of Course
Click HERE to Visit the Rapidan Golf Club Website
ASSET DESCRIPTIONS: The auction will consist of 2 separate offerings:
The first offering consists of an 18 hole golf course with two story clubhouse and maintenance building. The property consists of 154.41+/- total acres, Orange County Parcel Numbers: 004A00000000000A0 & 004A000040004A. A large portion of the property has frontage on the Rapidan River. All "owned" personal property to be conveyed at the time of closing.
All golf carts are under a rental agreement and select maintenance equipment finance agreements exist. Purchaser MUST assume equipment finance agreements at the time of closing. Purchaser will have the OPTION of qualifying and assuming the golf cart rental agreement. Copies of the golf cart rental agreement and equipment finance agreements are available in the property information package. To obtain a property information package, please click the "Documents" tab for a confidentiality agreement. Please sign and return the confidentiality agreement. Once received, the information will be emailed for your review. Please do not bid until you have thoroughly reviewed the information.
IMPORTANT UPDATE 3/17/20: Purchaser will have the OPTION of assuming the cart rental agreement. In the event purchaser does not want to qualify and assume the cart rental agreement, Seller will have the carts removed prior to closing. Two equipment finance agreements exist and must be assumed by the purchaser.
IMPORTANT UPDATE 4/29/20: A conservation easement exists on a large portion of the golf course and Orane County Parcel #004A000040004A. Please find the attached easement survey and other related documentation under the Documents tab.
The second offering consists of eight separate Orange County land tracts that total 19.87+/- acres:
Parcel Numbers: 0040000000005A (2.0 Acres), 0040000000005B (1.264 Acres), 0040000000005C (1.265 Acres), 0040000000005D (2.0 Acres), 0040000000000005H (2.0 Acres), 004A0000D00010 (0.649 Acres), 004A000040004C (5.9 Acres) & 004A000040004B (4.8 Acres)
IMPORTANT UPDATE 3/17/20: Parcels 40004B (4.8 Acres) & 40004C (5.9 Acres) are under an easement granted to the Historic Fredericksburg Foundation, Inc. that limit the uses for these two tracts. A copy of the easement is posted under the "Documents" tab. Please review the easement prior to bidding.
INSPECTION: Please contact Auctioneer for instructions.
REGISTRATION & BIDDING: Online registration and bidding to start on April 27th.
AUCTIONEER'S NOTE: Due to the unfortunate death of owner, these debt free assets are being sold regardless of price. We encourage all prospects to inspect the properties, obtain all necessary information, register for the auction and be ready to bid.
TERMS: Please click the "Documents" tab for General Terms and Conditions.
BUYER’S PREMIUM: A 10% buyer’s premium will be added to the high bid. Example: For a high bid of $100,000, a 10% buyer’s premium of $10,000 will be added making the purchase price $110,000.
ONLINE BIDDING: For online bidding instructions, please contact Scott Schwartz at 404-550-3490 or firstname.lastname@example.org.
CLOSING ATTORNEY: Davies, Barrell, Will, Lewellyn & Edwards, PLC, 122 W. Cameron Street, Culpeper, VA 22701, Office: 540-825-6000
Auction Conducted by: Hilda W. Allen Real Estate, Inc., 212 Old Quitman Annex Road, Adel, GA 31620, Phone: 229-896-1492.
VAAL# 2907003354 / VARE Firm Lic# 0226010231
Online Auction Facilitator: Bullseye Auction & Appraisal, LLC, 500 Pike Park Drive, Suite F, Lawrenceville, GA 30046