Valuable Residential Real Estate For Sale @ Online Auction

Bidding Closes May 8, 2025 @ 1:00 PM

We are offering at online auction the real estate and improvements located at 118 Jefferson Dr Palmyra VA 22963. This 3 bedroom, 2 bath home sits on a 0.44 +/- acre corner lot at Lake Monticello. Lake Monticello is a gated country club lake and golf community that is regularly ranked as one of the top places to live in VA. This house features 1,394 sq ft of single level living space with a two car attached garage.

Click Here For A Video Overview Of The Property

Located in Fluvanna County just 15 miles southeast of Charlottesville and 65 miles northwest of Richmond, Lake Monticello offers families and retirees a place to get away from the hustle and bustle of the city yet remain close enough for convenient access to airports, shopping, and dining amenities. Lake Monticello is a 325 acre freshwater lake with its own 18 hole par 72 golf course, clubhouses, dining, beaches, swimming pool, parks,  and other amenities.  As a homeowner these are all features that add to the family feel of this great community.

Click Here For the Lake Monticello Owners Association Website

This home was constructed in 1988. It features a spacious living room with gas fireplace and built in bookshelves, large kitchen, screened in back porch, and two car garage. It sits on a nice corner lot with a paved driveway. It is served by municipal water and sewer. Kitchen appliances convey with the house. The house could use some cosmetic updates but appears to be structurally sound. This property is a part of a homeowners association and subject to the restrictions and policies of the association. Please see the documents tab for HOA documents.  Annual HOA fee is $1,168. Our seller has moved to a more manageable living situation and we have been instructed us to sell this property at public auction. This is not a foreclosure auction. Our seller has elected to use transparent and competitive bidding to establish the sales price of the property. Don't miss this great opportunity to own a solid home in a very desirable neighborhood.

All Bids Must Be Submitted Online. Click The "Bid Online Now" Button To See Property Details and To Bid

The bidding for this property will close at 1:00 PM May 8, 2025 with a two minute auto extend.  This means that if a bid is placed within the last two minutes the bidding will be extended for an additional two minutes.

This property is being Sold Subject To Seller Confirmation With A Starting Bid of $25,000

Property Tours: Please do not visit the property without being accompanied by an agent per Lake Monticello regulations.  We do have property tours scheduled for 4 PM Monday April 21 and 4 PM Friday May 2 or at other dates and times by appointment. Please Call or Text Linford Berry - 540-476-3309 or HL Wenger - 540-246-3333 for more information or for an appointment to see the property.  

Property Highlights:

• Spacious 0.44 +/- Acre Corner Lot In Lake Monticello Community
• Home Built In 1988
• Zoned R-4
• This Property is in an HOA - Membership Includes Access To Assoc. Amenities
• Fishing, Boating, Golfing, Swimming, Dining, and More
• Annual HOA Fee - $1,168 - Includes Recycling, Trash, and Storm Cleanup
• 1,394 +/- Sq Ft Of Single Level Living Space
• 3 Bedrooms, 2 Bath
• Gas Fireplace
• Two Car Attached Garage and Storage/Utility Room
• Kitchen Appliances Convey
• Heat Pump, Central AC, Electric Heat
• Screened In Back Porch
• Municipal Water and Sewer
• 200 Amp Electrical Service From Central VA Electric Co-op
• 2025 Tax Assessed Value $246,500

Additional Information, Photos, And Video Can Be Found At The Tab Or Dropdown Menu At The Top Of This Page or By Clicking The “Bid Online Now” Button.

Terms and Conditions:

• WE GUARANTEE A FREE AND CLEAR DEED TO THE PROPERTY
• This property is being sold in AS-IS condition with no financing/appraisal/inspection contingencies. Bidders are strongly encouraged to inspect the property themselves and/or enlist the assistance of professional inspectors or contractors in evaluating the condition and value of the property. All inspections must be performed prior to the auction. 
• Buyers Premium: There will be a 10% Buyers Premium added to the high bid to determine total contract purchase price. (For example a 100,000 bid would have a buyers premium of $10,000 added for a total purchase price of $110,000).
• Payment Terms: Payment will be in the form of Cash or Cash Equivalent with a $10,000 non-refundable deposit due the day of the auction (within 24 hours for online bidders at a distance) and the balance due at closing within 45 days of the auction.  Deposit will be applied to the purchase price at closing. Please do not bid if you are not able to close within 45 days.
• Financing can be obtained for the property, but the sale is not contingent upon obtaining financing.
• All information provided by Mountain Valley Auction Group was obtained from sources believed to be reliable but are not guaranteed. Buyer shall rely on their own information, judgment, and inspection of the property.
• View the sample purchase agreement and complete terms under the "Docs" tab or drop down menu at the top of the page under the photo.

Note For Real Estate Agents: Preapproved (No later than 5:00 PM on May 7) buyers agent participation will be compensated. Click Here For Form