Foreclosed Properties in High Country Hit Auction Block As Yadkin Valley Financial Corporation Cleans Its Books

Published Tuesday, January 29, 2013 at 10:25 am

indexBy Jesse Wood

Jan 29, 2013. Iron Horse Auction Company is auctioning off foreclosed properties, many of which are located in the High Country, in the second week in February. (See a recent HCP article on state of foreclosures in High Country.)

Properties in Alexander, Ashe, Avery, Caldwell, Watauga and Wilkes counties are on the auction block. This auction is among a bigger sale that features 149 properties in 17 counties in North Carolina and 21 properties in three counties in South Carolina. The appraised value of all the properties combined is more than $10 million.

“This is one of the largest auctions in North Carolina for a community or regional bank,” Sonny Weeks, an auctioneer with Iron Horse Auction, said. “This is a rare opportunity to buy bank owned properties at auction prices.”

This is a move by Yadkin Valley Financial Corporation to flush the properties from their books that is a bit different from Bank of America’s method, when it  received tax write-offs for demolishing homes and donated those properties to local governmental authorities in 2011. 

“Yadkin Valley Financial Corp has raised $45 million in capital, allowing the bank to move a large portfolio of bank owned properties off their books,” said Weeks. “The bank has authorized our company to auction these properties with no minimum to the highest bidder.”

The properties are to be sold and closed by March 20, 2013. The properties will be sold “free and clear of all liens,” with taxes paid up to the day of closing by the seller. All bidding is to take place online at www.ironhorseuaction.com, where you can also view aerial maps, deeds and tax cards. The auctions are divided into three geographical areas with slightly different dates:

  • Charlotte Metro Auction, Wednesday, Feb. 6 to Wednesday, Feb. 13
  • Western N.C. Auction, Thursday, Feb. 7, to Thursday, Feb. 14 
  • Eastern N.C. Auction, Friday, Feb. 8, to Friday, Feb. 15 

Pre-auction offers will be entertained. 

For more information, click to www.ironhorseauction.com or call 1-800-997-2248. 

Here’s the link to the Western N.C. Auction Page: www.ironhorseauction.com/index.php?subp=1&sct=109&pg=ap&pid=30895&ap_sub=cat


 

PROPERTY DESCRIPTION
Here are some of the High Country lots featured in the auction:

Auction Lot #1
Vacant Lot on Buckeye Ridge Road,Beech Mountain, NC; Chestnut Falls Lot 1A and also known as Buckeye Gap Lot372; Avery County; PIN 1940-05-29-2054; Deed 377, Page 1846, Plat Book 5, Page82; Tax Value $5,800.00. HOA Dues are approximately $250.00 per year per lot.  All back taxes, dues and/or assessments will be paid by the seller. All current taxes, dues and/or assessments will be prorated at closing, if any due.

Auction Lot #2
Vacant Lot on Buckeye Ridge Road,Beech Mountain, NC; Chestnut Falls Lot 1B and also known as Buckeye Gap Lot373; Avery County; PIN 1940-05-28-3925; Deed 377, Page 1846; Plat Book 5, Page82; Tax Value $5,800.00. HOA Dues are approximately $250.00 per year per lot.  All back taxes, dues and/or assessments will be paid by the seller. All current taxes, dues and/or assessments will be prorated at closing, if any due.  

Auction Lot #3
Vacant Lot on Buckeye Ridge Road,Beech Mountain, NC; Chestnut Falls Lot 1C and also known as Buckeye Eye Gap Lot374; Avery County, PIN 1940-05-28-3886; Deed 377 Page 1846; Plat Book 5, Page82; Tax Value $5,800.00. HOA Dues are approximately $250.00 per year per lot.  All back taxes, dues and/or assessments will be paid by the seller. All current taxes, dues and/or assessments will be prorated at closing, if any due. 

Auction Lot #4
Vacant Lot on Buckeye Ridge Road,Beech Mountain, NC; Chestnut Falls Lot 1D and also known as Buckeye Gap Lot375; Avery County, PIN 1940-05-28-4736; Deed 377, Page 1846; Plat Book 5, Page82; Tax Value $5,800.00. HOA Dues are approximately $250.00 per year per lot.   All back taxes, dues and/or assessments will be paid by the seller. All current taxes, dues and/or assessments will be prorated at closing, if any due.

Auction Lot #5
Vacant Lot on Buckeye Ridge Road,Beech Mountain, NC; Chestnut Falls Lot 1E and also known as Buckeye Gap Lot376; Avery County, PIN 1940-00-28-5742; Deed 377, Page 1846; Plat Book 5, Page82; Tax Value $5,800.00. HOA Dues are approximately $250.00 per year per lot.   All back taxes, dues and/or assessments will be paid by the seller. All current taxes, dues and/or assessments will be prorated at closing, if any due.

Auction Lot #6
2.55+/- Acre Vacant Lot on Round Mountain Parkway and Walnut Ridge Drive, Lenoir, NC, Caldwell County; Being Lot5 in The Coves at Round Mountain; Deed 1730, Page 386; Tax Value $76,400.00.HOA dues are $700.00 per lot per year. All back taxes, dues and/or assessments will be paid by the seller; All current taxes, dues and/or assessments will be prorated at closing, if any due. 

Auction Lot #7
2.155+/- Acre Vacant Lot on Skyview St., Deep Gap, NC, Watauga County;*****Sold Prior To Auction**** 

Auction Lot #8      
1.083+/- Acre Vacant Lot on Skyview St. Deep Gap, NC, Watauga County; ****Sold Prior To Auction**** 

Auction Lot #9
2.06+/- Acre Vacant Lot on Stony Creek Way, Boone, NC, Watauga County; Lot 3, Phase IV of Heavenly Mountain; PIN2849-13-7265-000; Deed 1422, Page 469, Plat Book 013, Page 128; Tax Value $292,400.00.HOA dues are approximately $787.50 per lot per quarter. All back taxes, dues and/or assessments will be paid by the seller. All current taxes, dues and/or assessments will be prorated at closing, if any due. 

Auction Lot #10

1.419+/- Acre Vacant Lot on Ledgestone Lane, Boone, NC, Watauga County; Lot 9 in Boulder Creek; PIN1899-98-8199-00; Deed Book 1422, Page 444; Plat Book 18, Page 101; Tax$136,300.00. HOA dues amount is not known. There is a one time $500.00 capital contribution due per lot. All back taxes, dues and/or assessments will be paid by the seller. All current taxes, dues and/or assessments will be prorated at closing, if any due.

Auction Lot #11
2.795+/- Acre Vacant Lot on Boulder Creek Drive, Boone, NC, Watauga County; Lot 3 Boulder Creek; PIN2809-08-404-00; Deed 1422, Page 448, Plat Book 18, Page 101; Tax Value$145,000. HOA dues amount is not known. There is a one time $500.00 capital contribution due per lot.  All back taxes, dues and/or assessments will be paid by the seller. All current taxes,dues and/or assessments will be prorated at closing, if any due.

Auction Lot #12
23.56+/- Vacant Acres, in Titus Ridge, Fleetwood, NC, Ashe County; PIN 15239-042; Deed Book 431, Page 2389; Tax Value $228,900.00. May be subject to HOA dues and restrictions. All back taxes,dues and/or assessments will be paid by the seller. All current taxes, dues and/or assessments will be prorated at closing, if any due, There is a proposed public highway that may affect this property at a future date. 

Auction Lot #13
9.27+/- Total Vacant Acres, in Titus Ridge, Fleetwood, NC, Ashe County; consisting of two lots of 8.428 +/-Acres and .842+/- Acres; Deed Book 431, Page 2389; Tax Value $92,700.00; PIN’s15239-182 and 15239-197; May be subject to HOA dues and restrictions. All back taxes, dues and/or assessments will be paid by the seller; All current taxes,dues and/or assessments will be prorated at closing, if any due. There is a proposed public highway that may affect this property at a future date.There is a proposed public highway that may affect this property at a future date.

Auction Lot #14
2.019+/- Acre Vacant Lot, being Lot 1 in Titus Ridge, Fleetwood, NC, Ashe County; Deed Book 431, Page 2389;Plat Book 6, Page 499; PIN 15239-042-001. Tax Value $60,000.00. HOA dues are approximately $250.00 per lot per year. There is also an impact fee when building on the lot. It is $500.00 if the road in the subdivision is gravel or$1,500.00 if the road is paved. All back taxes, dues and/or assessments will be paid by the seller. All current taxes, dues and/or assessments will be prorated at closing, if any due. There is a proposed public highway that may affect this property at a future date. 

Auction Lot #15
1.368+/- Acre Vacant Lot, being Lot 2 in Titus Ridge, Fleetwood, NC, Ashe County; Deed Book 431, Page 2389;Plat Book 6, Page 499; PIN 15239-042-002; Tax Value $60,000.00. HOA dues are approximately $250.00 per lot per year. There is also an impact fee when building on the lot. It is $500.00 if the road in the subdivision is gravel or$1,500.00 if the road is paved. All back taxes, dues and/or assessments will be paid by the seller. All current taxes, dues and/or assessments will be prorated at closing, if any due. There is a proposed public highway that may affect this property at a future date.

Auction Lot #16
1.745+/- Acre Vacant Lot, being Lot 5 in Titus Ridge, Fleetwood, NC, Ashe County; Deed Book 431, Page 2389;Plat Book 7, Page 197; PIN 15239-042-005; Tax Value $95,000.00. HOA dues are approximately $250.00 per lot per year. There is also an impact fee when building on the lot. It is $500.00 if the road in the subdivision is gravel or$1,500.00 if the road is paved. All back taxes, dues and/or assessments will be paid by the seller. All current taxes, dues and/or assessments will be prorated at closing, if any due, There is a proposed public highway that may affect this property at a future date. 

Auction Lot #17
3.572+/- Acre Vacant Lots, being Lot’s 7,8& 9 in Titus Ridge, Fleetwood, NC, Ashe County; Deed Book 431, Page 2389;Plat Book 6, Page 499; PIN 15239-042-007, 15239-042-008 and 15239-042-009; Tax Value $130,000.00. HOA dues are approximately $250.00 per lot per year. There is also an impact fee when building on the lot. It is $500.00 if the road in the subdivision is gravel or $1,500.00 if the road is paved.  All back taxes, dues and/or assessments will be paid by the seller. All current taxes, dues and/or assessments will be prorated at closing, if any due. There is a proposed public highway that may affect this property at a future date.

Auction Lot #18
1.55+/- Acre Vacant Lot, being Lot11 in Titus Ridge, Fleetwood, NC, Ashe County; Deed Book 431, Page 2389; Plat Book 6, Page 499; PIN 15239-042-011; Tax Value $55,000.00. HOA dues are approximately $250.00 per lot per year. There is also an impact fee when building on the lot. It is $500.00 if the road in the subdivision is gravel or $1,500.00if the road is paved.  All back taxes, dues and/or assessments will be paid by the seller. All current taxes,dues and/or assessments will be prorated at closing, if any due. There is a proposed public highway that may affect this property at a future date.

Auction Lot #19
1.521+/- Acre Vacant Lot, being Lot 12 in Titus Ridge, Fleetwood, NC, Ashe County; Deed Book 431, Page 2389;Plat Book 6, Page 499; PIN 15239-042-012; Tax Value $45,000.00. HOA dues are approximately $250.00 per lot per year. There is also an impact fee when building on the lot. It is $500.00 if the road in the subdivision is gravel or$1,500.00 if the road is paved. All back taxes, dues and/or assessments will be paid by the seller; All current taxes, dues and/or assessments will be prorated at closing, if any due.

Auction Lot #20
2+/- Vacant Acres off Three Top Rd, Todd, NC, Watauga County; Deed Book 422, Page 160; Parcel #’s 04122-274/04122-275; Total Tax Value $45,000.00. Any HOA dues are not known. All back taxes, dues and/or assessments will be paid by the seller. All current taxes,dues and/or assessments will be prorated at closing, if any due.

Auction Lot #25
1.278+/- Vacant Acres at 246 Windy Acres Ridge Rd., Fleetwood, NC, Ashe County; Parcel # 15235-316; Deed 419, Page1793; Plat Book 7, Page 100; Tax Value $20,000.00. Any HOA dues are not known.All back taxes, dues and/or assessments will be paid by the seller. All current taxes, dues and/or assessments will be prorated at closing, if any due.

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