-         A 10% earnest money deposit of the total contract price will be due immediately from all successful bidders.

-         A 10% buyer’s premium will be added to the high bid to determine the total purchase price.

-         The property is being sold “AS IS, WHERE IS” and without any contingencies, including financing.

-         The Closing for Tract 1 will be set for 60 days from the auction date and Closing for Tracts 2 - 8 will be set for 45 days from the auction date or as soon thereafter as closing documents are available.

The Cotton Rose Farm spans 363± acres of prime development land outlined in the Suffolk City 2035 Comprehensive Plan. Situated at the intersection of Matoaka Road and Mockingbird Lane, the property offers an access corridor leading to Kings Fork Road. Suffolk, experiencing rapid growth within Hampton Roads, attracts homebuyers seeking its allure. Potential buyers will find appeal in the property's secluded setting, coupled with convenient access to the burgeoning retail hub along Godwin Boulevard, which includes Sentara Obici Hospital, King's Fork High School, and the Suffolk Bypass. With a projected 6.5 percent increase in the city's population and a 6.9 percent rise in housing units by 2026, with more than half of this growth anticipated in zip code 23434, the property holds significant investment potential.