VA Deed-Trustee's 1

THIS DEED, made and entered into this _____ day of __________________, 20_____, by and between TRUSTEE and FIDUCIARY, Trustees, Grantors, parties of the first part, and BIDDER [marital status], Grantee, party of the second part, whose address is [address],

WITNESSETH

WHEREAS, by deed of trust dated _______________________________ and recorded in t he Office of the Clerk of the Circuit Court of the County of _________________, Virginia in Deed Book ____, page _____, ___________________ conveyed the hereinafter described property to ________________________ Trustee and _____________________ Fiduciary, Trustees, to secure the payment of a deferred purchase money deed of trust, note dated _________________________ in the principal amount of ____________________________________ Dollars ($_____________ ) with interest thereon at the annual rate of ________________ percent ( ______ %), payable to the order of ____________________ in _____ consecutive annual installments of ________________________________ Dollars ($____________ ) beginning on _______________________________ and continuing ________________ thereafter until _______________________, when the entire remaining principal balance plus accrued interest would be due and payable; said deed of trust note containing a waiver of the Homestead exemption; and,

WHEREAS, the said ______________________ failed to pay said note in accordance with its terms upon demand to do so; and

WHEREAS, the said Trustees upon request of the holder of said note advertised the property for sale under the terms of said deed of trust by publishing notice of the time, place, and terms of sale once a week for three consecutive weeks in the ____________________________________, a newspaper of general circulation in the County of _____________________, Virginia, and by posting handbills at numerous places in said County, including at the Courthouse door of said County, for a period of at least four weeks; and,

WHEREAS, the Trustees gave notice of the time, place and terms of sale to _______________ and to the subordinate lien creditors [and, if applicable, to the assignee of the note] by certified mail in compliance with the provisions of Section 55-59.1 of the Code of Virginia, 1950, as amended; and,

WHEREAS, the Trustees proceeded to offer the property for sale at public auction on the premises as advertised, on _________________, ____________________, 20____ at _______________, at which sale Bidder bid the sum of _________________________ Dollars ($____________ ), that being the highest and last bid therefor; and,

WHEREAS, the Trustees sold the property to Bidder for the sum of __________________________________ Dollars ($____________ ) and received a bidder's deposit of __________________________________ Dollars ($___________ ) and have now received the balance of the purchase price.

NOW, THEREFORE, in consideration of the premises and the sum of _____________________________ Dollars ($______________ ) cash in hand paid, the receipt of which is hereby acknowledged by the parties of the first part, the said parties of the first part hereby grant, bargain, sell, and convey with SPECIAL WARRANTY OF TITLE unto the said Bidder the following described real estate, to-wit:

[property description]

This conveyance is made expressly subject to the restrictions, conditions, rights-of-way, and easements, if any, contained in the instruments constituting the chain of title to the property conveyed herein, and to matters visible upon inspection.

WITNESS the following signatures and seals:

_____________________________________ (SEAL)

Trustee

_____________________________________ (SEAL)

Trustee

[Acknowledgments]

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