Virginia Mountain Land Auction Using a New Auction Method of ‘Selling the Down Payment’
It was announced today that Iron Horse Auction Company, Inc. of Rockingham, NC will sell 15 large mountain tracts in Virginia. Tracts will be sold absolute, selling the down payment and with reserve at public auction. All tracts have guaranteed owner financing available, regardless of credit history. A total of 238.90 +/- acres will be sold in the Cove Creek development.
The properties are located in Cove Creek Subdivision near Bluefield, Virginia in Tazewell County. The Virginia property features extensive mountain views, numerous mountain streams and elevations exceeding 3,000 feet above sea level on some tracts.
The property is near Jefferson National Forest and features many recreational opportunities. The properties will be sold at Fincastle Country Club on Saturday, October 17th at 4 p.m. in Bluefield, Va.
Tom McInnis of Iron Horse Auction Company, Inc. states, “Selling the Down Payment is the newest and most innovative way to auction property. The price is set on the property, with the loan amount in place. Buyers will be bidding on the amount paid toward the down payment. Properties can be purchased with as little as a dollar down and the buyer assumes the loan. 6 tracts will sell the down payment, 4 tracts will sell at regardless of price and 5 tracts will sell with owners’ confirmation. Financing is set at a 5.5% interest rate over 30 years with a five year balloon. Everyone is eligible to purchase the land regardless of credit history.”
For additional information call 800-997-2248 or visit www.ironhorseauction.com.
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