Occasionally, VHFA organizes a public sale of a property. All public sales require a posted legal notice in media outlets. For more full information regarding a public sale, refer to the applicable legal notice and contact the parties provided as contacts in the notice.
General terms of a typical sale is as follows:
- The property will be sold to the highest qualified bidder
- A minimum $10,000 certified treasurer's or cashier’s check must be presented to qualify as a bidder
- The successful bidder is required to enter into a Purchase and Sale Agreement with No Contingencies, except for court confirmation
- Payment in full is due by the date set by VHFA or within ten days from the date of the court-issued Order of Confirmation
- Properties are sold, “As is, where is, with all faults”, and the successful bidder is required to purchase the property regardless of any title defects, environmental hazards and whether or not the property is in compliance with local, state or federal land use laws, regulations or permits
- The subject property may be subject to rights of parties in possession
Other terms may be announced at the sale. For additional information, see the contact listed for each property below.