INVITATION TO BID TIMBERLAND with RECREATIONAL OPPORTUNITIES The Property: R. S. Ramey Tract Mecklenburg County, Virginia ±157 Total Acres Offered at Sealed Bid Sale Friday, September 8, 2017 at 11:30 a.m. Prepared August 1, 2017
American Forest Management, Inc. (AFM), acting as agent for the owners of the R. S. Reamey Tract (Seller), is pleased to present the following information regarding this outstanding ±157-acre timberland property. This sale represents an excellent opportunity for long-term financial returns from timber production, while also providing the prospect of recreational and wildlife development. The tract is located in south-central Mecklenburg County along Layton s Creek, approximately 6 miles north Boydton, VA and 10 miles from Buggs Island Lake access. Recreational opportunities include white-tail deer and turkey hunting, 4-wheeling and trail riding, and other uses. Directions: From the intersection of Highway 92 and Highway 58 just north of Boydton, VA, drive north on Highway 92 1.1 miles and turn right on State Road 660 (Old Cox Rd.) Drive 3.1 miles and turn right on State Road 667 (Easters Rd.) and drive approximately 1.1 miles and the access road will be on your left. 1800 Easters Rd., Boydton, VA 23917 is the street address (between the mail boxes for 1780 and 1818 Easters Road). Property Description: The R. S. Reamey tract represents an excellent opportunity to acquire a tract of land suited for timber production and recreational activities. It is currently owned in a partnership preparing to divest itself from timberland properties. All merchantable timber was recently harvested from the tract and the owners wish to sell the land. Approximately 142 acres are included in the clearcut area, and the successful bidder will be responsible for complying with Virginia s Seed Tree Law. The tract has approximately 4,000 feet of frontage on Layton s Creek a major local waterway. The logging contractor did a very good job of cutting all merchantable and non-merchantable growth to facilitate reforestation of the tract. Access to the tract is provided via historic (prescriptive) use of a good woods road recently rocked by the logging contractor, and being approximately 900 feet in length from the state road to the Property. Property Use: The highest and best use for this tract is timber production and recreational uses such as hunting, hiking, 4-wheeling and similar activities. The soils on the tract are predominantly Congaree, Georgeville and Goldston silt loams, which are productive soils for growing loblolly pine. The tract is offered for sale by sealed bid at 11:30 a.m. on Friday, September 8, 2017. The bid may be contingent upon a limited number of standard requests; however, bids with fewer contingencies and with more secure financing will receive a more favorable review. Bidders are encouraged to review the property, verify available information and conduct other due diligence requirements prior to bidding. All information in this brochure or any other information provided by Seller, its advisor, broker and employees has been developed to provide interested buyers with an overview of the property and should not be relied upon by buyers. Seller, its advisor, broker and employees make no representation or warranty as to the accuracy or completeness of any such information, other than those contained in an executed Purchase and Sale Agreement. The prospective buyers are responsible, at their sole cost, for verifying to their own satisfaction, the accuracy of maps, timber volumes, environmental issues and other factors and the condition of the property.
ADDITIONAL TRACT INFORMATION: The tract is zoned AG - Agricultural and is identified as Mecklenburg County tax map number 091000 A 025, and the legal description can be found in Deed Book 456 at page 677. The most recent county tax valuation was $172,700 for land, $87,000 for pine timber and $4,800 for volunteer growth. As described above, the timber has been harvested, which will reduce the tax valuation. The 2017 tax rate was $0.42 per $100 value. The estimated taxes for 2018 would be $172,700/100 = $1,727 X $0.42 = $725.34. Hunting Lease: The tract is not currently leased for hunting, but there is a local hunt club interested in the tract if the new owners prefer to lease the hunting right rather than hunt themselves. Reforestation: The tract is subject to compliance with the Virginia Seed Tree law, which requires adequate stocking of pine trees within 3 years of harvest completion. Estimated costs for replanting the tract are as follows: Site preparation spray summer 2018 (remove hardwood and natural pine competition) and plant winter 2019 approximately $175 per acre. Straight plant the tract winter 2018 and release spray summer 2018 approximately $120 per acre. This method will not kill natural pine competition and often leads to an overstocked and under productive stand. Both methods are eligible for Cost-Share assistance. Property Ready for Reforestation Layton s Creek
BID OPENING AND PROCEDURES Sealed bids for the tract will be opened at 11:30 a.m., Friday, September 8, 2017, at the AFM office. American Forest Management, Inc. 591-A Southlake Boulevard Richmond, VA, 23236 O: (804) 897-5052 F: (804) 897-5056 The office is located in the Southport Office Park, south of the intersection of Southlake Boulevard and Trade Road. All bids should be for the whole tract based on ±157 acres being sold. Copies of maps, available plats, and other information delineating the tracts are available online or by request. Bidders may bring bids to the bid opening provided sealed bids are submitted to the AFM representative prior to commencing the opening of the bids or Bidders may mail or overnight bids to the above AFM address for receipt prior to the bid opening. Bids may be submitted by scan and email (david.anderton@afmforest.com) or facsimile (FAX); however, Bidder should follow any emailed or fax bid with a telephone call to confirm receipt of such bid. AFM will not be responsible for any failure to receive email or fax bids due to electronic, machine or other failure. Telephone bids will be required to complete a written bid sheet or enter into a written contract within one (1) day of the bid opening. Sealed envelopes containing the bid should be marked BID Reamey Tract. Seller reserves the right to reject any and all bids. All bids must be submitted in writing on the attached BID FORM. Once the bid process has commenced, promptly at 11:30 a.m., no additional bids will be accepted. Seller s Agent will open all of the bids at the designated time and bids will be evaluated with the Sellers. The name of the successful bidder and the accepted offer will be given to all of the Bidders. The owner s decision to accept or reject bids will be made on or before 5:00 p.m. Monday, September 11, 2017. All bids will be considered to be legally binding and continuing offers until accepted or rejected by Seller or Seller s Agent. Successful bidder, so notified by Seller or Seller s Agent, AFM, shall execute a Real Estate Offer to Purchase and Sale Contract, no later than 5:00 p.m. Friday, September 15, 2017. An earnest money deposit of five percent (5%) will be collected at the contract signing to be applied towards payment on execution of such contract, and will be transferred to closing attorney s escrow account. SELLER AND/OR AFM, AS SELLER S AGENT, WILL NOT BE LIABLE FOR ANY FEES OR COMMISSIONS TO ANY REAL ESTATE BROKER, DEALER, AGENT OR REPRESENTATIVE ON BEHALF OF THE BIDDER AS A RESULT OF THE BIDS OR RESULTING SALE TO THE BIDDER IN CONNECTION WITH THIS OFFERING UNLESS BIDDER HAS PROPERLY REGISTERED HIS BUYER S AGENT WITH AFM PRIOR TO THE BID OPENING AND SAID BIDDER HAS NOT PREVIOUSLY BEEN CONTACTED BY AFM REGARDING THIS BID SALE. The terms of the sale are cash at closing. Real estate taxes and all assessments will be divided on a daily pro rata basis between Buyer(s) and Seller, as of the date of Closing. At Closing, Seller shall deliver to Buyer(s) a general warranty deed conveying fee simple title to the property. Seller shall pay customary documentary stamp tax and Buyer(s) shall pay all remaining recording costs. Title examination fees and title insurance costs, if any, shall be the responsibility of the Buyer(s). Closing will occur as described in the purchase and sale agreement, but no later than October 31, 2017. Requests for showings by AFM and requests for additional information should be directed to: David E. Anderton, Jr. (804) 356-5871 or the AFM Richmond Office (804) 897-5052.
BID FORM: R. S. REAMEY TRACT BIDS must be received by 11:30 a.m., Friday, September 8, 2017 at the Richmond Office of AFM, Inc., 591-A Southlake Boulevard, Richmond, VA 23236. The undersigned bidder hereby agrees to purchase the tract listed below, located in Mecklenburg County, Virginia, as advertised in the bid prospectus dated August 1, 2017. The undersigned bidder understands the submitted bid is based upon the terms and conditions stated in this prospectus and certifies that bidder received a copy of the bid prospectus and is familiar with and understands the terms and conditions in that document. If this bid is accepted, the undersigned bidder agrees to execute the Real Estate Offer to Purchase and Sale Contract (copy available upon request) in substantially the form presented. The contract must be executed and delivered to AFM s Richmond, VA, office by 5:00 p.m. Friday, September 15, 2017. The undersigned bidder hereby offers to purchase the following tract for the price bid below: R. S. Reamey Tract Bid based on ±157 Acres $ Bid Contingencies: The bid on the above shown tract is contingent upon or subject to the following terms and conditions (if none, please state none ): The bid will remain a legally binding and continuing offer until it is accepted or rejected or until 5:00 p.m. Monday, September 11, 2017. All bidders will be notified at that time as to the status of the bids. The undersigned bidder hereby acknowledges and agrees that neither AFM nor Sellers will pay any real estate fees or commission in connection with this offering unless the Buyer s Agent is properly registered prior to the bid opening as described herein. The undersigned bidder acknowledges that neither Seller nor Agent nor representatives warrant the completeness or accuracy of any acreage, or the condition, age, volume or value of land and/or timber associated with this bid and that no representations or warranties are expressed or implied as to the Property, its condition or boundaries. This bid is based on the fact that the property is being sold AS IS and the bidder(s) has satisfied himself or herself as to the accuracy of this information. The undersigned bidder agrees that the Seller reserves the right to reject or accept any bid at its sole discretion. DISCLOSURE OF AGENCY: The undersigned bidder acknowledges receipt of a copy of the agency disclosure form and understands that the agent may represent both the buyer and seller, but only with the full knowledge and written consent of all parties. The bidder understands that David E. Anderton, Jr., Carolyn Mulligan, Alfred E. Schatzki and Charlie J. Kerns, Jr., agents with the firm AFM, Inc. represent the SELLER. Bidder s Name: (print full name) Address: Telephone: Bidder s Signature: