Details
Build, hold, or assemble: an East End lot minutes from downtown Richmond.
2029 Ford Avenue is being sold at online auction by order of the U.S. Bankruptcy Court, and bidding closes Thursday, November 19, 2026. This is a court-supervised sale, and the seller’s goal is to sell. Opportunities like this rarely come to market through a traditional listing.
The Property
This vacant residential lot sits in Richmond’s East End, just off US Route 360 (Fairfield Way) and minutes from downtown. The lot is about 2,549 square feet (0.059 acres) with 22 feet of frontage on Ford Avenue. It is irregular in shape and runs roughly 135–140 feet deep to a 20-foot rear line. A two-story single-family house stood on the lot until 2019. The lot appears to be a buildable nonconforming lot of record, but the City has not confirmed this and buyers should verify. The house was removed, and the lot has been vacant since.
Why It Works
- For builders: The lot is zoned R-5 Single-Family Residential and previously held a home. It sits on a block of similarly sized lots, which makes it a natural fit for a narrow-lot infill house.
- For investors: The adjoining lots at 2027 and 2031 Ford Ave are both vacant. Combined with 2031 alone, the site would total about 6,575 SF with 57 feet of frontage. Richmond is also rewriting its zoning code for the first time in about 50 years, with a stated goal of expanding housing options citywide. Buying land before new rules are adopted can position an owner to benefit as they take effect. Review the draft map for this block at rva.gov/coderefresh.
- Low cost to hold: Taxes run about $372 a year at the current $31,000 assessment.
- Flood Zone X: The lot is outside the 100- and 500-year floodplains, so flood insurance is not federally required.
- Location: The lot is minutes from downtown Richmond and has quick access to US-360.
Do Your Homework, Then Bid
The Buyer Information Sheet is in the documents section. It covers City water and sewer connection fees, utility contacts, zoning, and flood data, so you can run your numbers before the auction closes. All information is believed reliable but is not guaranteed, and bidders should complete their own due diligence.
Register today to bid. Questions? Contact Chip Jones (804)-873-8593, CAI, AARE, at Dudley Resources.
Terms
TERMS AND CONDITIONS FOR THIS AUCTION EVENT
Seller: Maxum Genesis Group, Inc., Debtor-in-Possession, Chapter 11 (Subchapter V) Case No. 26-31259-BFK, United States Bankruptcy Court for the Eastern District of Virginia, Richmond Division.
Property: 2029 Ford Ave, Richmond, VA 23223 (City of Richmond Parcel ID E0000597015).
Auctioneer/Broker: Dudley Auctions Inc. dba Dudley Resources (“Dudley Auctions”).
Summary of Terms and Conditions:
Buyer's Premium: 10% Buyer's Premium or $2,500, whichever is greater, will be added to the highest bid.
Deposit Amount: At the Fall of the Hammer, the credit card used to register your account will be charged the deposit or escrow amount of $2,500 or 10% of the high bid, whichever is greater. The deposit will be refunded in full if the high bid is not accepted by the Seller.
Broker Co-op: Up to 2% of the high bid may be paid to a properly registered broker/agent at settlement.
Closing: 30-day closing from the Seller's acceptance of the high bid, As-Is, no contingencies. Conveyance by special warranty deed, free and clear of liens, claims, and interests pursuant to the Sale Order.
Agency Disclosure: Dudley Auctions is acting as auctioneer/agent and is agent for the Seller only. Dudley Auctions will not act as a dual or designated agent in this transaction.
Disclaimer: Information contained herein is believed to be correct to the best of Dudley Auctions’ knowledge, but it is the sole responsibility of each Bidder to inspect and verify all information pertaining to the property. This property is subject to sale prior to the auction event and may be withdrawn, modified, or canceled at any time without notice.
Bankruptcy Sale: The sale is being conducted pursuant to the Order Granting Application to Employ Auctioneer and Motion to Approve Sale of Real Property entered by the United States Bankruptcy Court for the Eastern District of Virginia, Richmond Division, in Case No. 26-31259-BFK
FULL TERMS AND CONDITIONS:
Bidder Approval: A $0.00 deposit or any amount, if any, displayed on the Dudley Auctions website or as communicated by Dudley Auctions may be required in order to become an approved Bidder and be able to place a bid during the auction event. Any such deposit will be required in the form of cash, certified funds, or credit card. Dudley Auctions reserves the right to hold the deposit until the completion of the auction event and for a reasonable period of time to allow for the release of any such deposit and/or the return of any such funds after the conclusion of the auction. The online bidding platform shall place a minimal credit card hold at the time of online registration to confirm the validity of the credit card being used.
Bid Increments: Dudley Auctions shall solely determine the bid increments for this auction event. Bid increments may be changed or modified from time to time during the auction event.
Bid Responsibility: Bidders are responsible for entering their bids and each Bidder shall be responsible for any and all bids placed under that approved Bidder’s number during the auction event. Bids placed by approved Bidders shall be considered final and will be recorded. Recorded bids may not be modified, retracted or rescinded.
Bidding Time: This auction is a timed auction event, which means that bidding is scheduled to begin and close at the times posted on the website for Dudley Auctions. All time references on the bidding site for Dudley Auctions are expressed in Eastern Time. It is the responsibility of the bidder to check the Dudley Auctions website regarding the scheduled opening and closing times for each timed auction event.
Buyer's Premium: A Buyer's Premium of $2,500 or ten percent (10%) of the highest bid, whichever is greater, will be added to the highest bid for the real property and included in the total selling price paid by the buyer.
Buyer's Premium Example |
|
Highest Bid | $50,000 |
10% Buyer's Premium | $5,000 |
Total Purchase Price | $55,000 |
Closing: The highest bidder must sign all documents and contracts within one (1) hour after the end of the auction event. All closings must occur within thirty (30) days after the Seller's acceptance of the high bid, unless otherwise specified in the Purchase Agreement. TIME IS OF THE ESSENCE WITH REGARD TO ALL CLOSINGS! The subject Property is to be conveyed by special warranty deed, free and clear of all liens, claims, and interests pursuant to 11 U.S.C. § 363(f) and the Sale Order, but subject to applicable easements and restrictive covenants of record. The terms of the purchase agreement are non-negotiable, and the highest bidder must sign the purchase agreement in the name of the highest bidder or the highest bidder's associated business entity. The purchase agreement and such other documents will set forth the specific terms and conditions of the sale, including the time by which the successful participant’s purchase of the property must be completed. It is the sole responsibility of each registered bidder to review all documents provided by Dudley Auctions before making any bids at the auction event.
Closing Costs: The deed shall be prepared and acknowledged by Seller at Seller's expense and recorded at the expense of Buyer. The buyer shall pay all title searches, title insurance charges, survey expenses, usual conveyance expenses, and recordation taxes, including the Grantor's and Grantee’s Tax. Real estate taxes, rents, water and sewer charges, if any, will be prorated as of the date of closing. Successful purchasers must pay all wire transfer fees. Sale of the property is not contingent upon the buyer obtaining financing.
Controlling Law: The rights and obligations of all parties regarding this auction event shall be governed and interpreted by the laws of the Commonwealth of Virginia and applicable federal bankruptcy law. All registered Bidders shall be deemed to have consented to the exclusive jurisdiction of the United States Bankruptcy Court for the Eastern District of Virginia, Richmond Division (the “Court”), which has retained jurisdiction over any disputes arising from or related to the sale of the Property, when making an offer at the auction event, whether present in-person or by agent, written offer, telephone, online, or any other means.
Cooperating Broker/Agent Fee: Dudley Auctions offers up to two percent (2%) cooperating broker/agent fee to be paid to the broker/agent representing the highest bidder for the real property (cooperating broker/agent fee is based on the highest bid and does not include the applicable Buyer's Premium). Please contact Dudley Auctions for full terms.
Default: If the highest bidder defaults in making settlement, the deposit paid by that defaulting highest bidder shall be forfeited and retained by Dudley Auctions as its commission, and the property purchased by such defaulting highest bidder may either be resold at the risk and expense of such party or Seller may accept the next highest available offer at the sale. Such defaulting highest bidder shall be liable personally for any deficiency resulting from the resale of the property it purchased at a lower price as well as for all costs, expenses, and attorneys’ fees in connection with such resale. The forfeiture of such deposit shall not limit any other rights or remedies of the Seller or Dudley Auctions with respect to any such default. Any successful Bidder who fails to submit an executed Purchase Contract, fails to make any required earnest money deposit, or fails to close in a timely manner may also be prohibited from bidding on future auctions conducted by Dudley Auctions.
Deposit: At the Fall of the Hammer, the credit card used to register your account will be charged the initial deposit or escrow amount of $2,500 or 10% of the high bid, whichever is greater. If the high bid is not accepted by the Seller, the deposit will be refunded in full.
Due Diligence: It is the sole responsibility of each Bidder to inspect the property; review the information documents relating to the property; assess the accuracy and completeness of the information contained in the Sale Brochure and any such other documents; and independently verify and confirm any estimates, projections, or assumptions relating thereto, none of which may be considered to be guaranties. Bidders are independently responsible for completing Due Diligence to their own satisfaction. By agreeing to these terms and conditions, the bidder represents that they have done so. Registered Bidders are aware of and agree that the sale pursuant to this auction event is being made on an “as-is, where-is” basis, with no representations or warranties of any kind, expressed or implied, by the Seller and/or Dudley Auctions.
Dudley Auctions is not the owner of these assets, but instead is contractually engaged for the sale of these assets on behalf of the owner(s). These assets are not advertised or being sold Absolute.
Bankruptcy Court Sale Order: The Seller is a debtor-in-possession, and the sale of the Property is being conducted pursuant to the Sale Order entered by the Court in Case No. 26-31259-BFK. Pursuant to the Sale Order, the Seller may establish a reserve price and bid increments, deem bids qualified bids, and deem a qualified bid the highest and/or best offer, and may close the sale of the Property without further approval of the Court. The Property will be conveyed free and clear of all liens, claims, and interests pursuant to 11 U.S.C. § 363(f) and the Sale Order. In the event of any conflict between these Terms and Conditions and the Sale Order, the Sale Order shall control. All Bidders have the sole and exclusive responsibility to select and consult with any and all professional advisors in determining whether to place a bid at this auction event. All Bidders acknowledge that they have relied exclusively on their own investigation and determinations and the advice of their own professional advisors, and expressly represent that they have not relied upon any information provided by the Seller or Dudley Auctions in any way.
Earnest Money Deposit: If you are the successful bidder, you may be required to provide an additional deposit in the form of a cashier's check, wire transfer or credit card, within 24 hours or as specified by Dudley Auctions at the conclusion of the auction event. The deposit is to be held by Dudley Auctions or a designated escrow agent.
Extended Bidding Time: This auction event is scheduled to begin on the “Starting Date and Time” and tentatively end on the “Scheduled Ending Date and Time” that are listed on the Dudley Auctions website. If a bid is received during the last two (2) minutes before the Scheduled Ending Date and Time, an automatic extension feature in the online-bidding platform will extend the Scheduled Ending Date and Time and keep the auction event open for an additional two (2) minutes beyond the time that the last bid was received. This process will repeat every time a subsequent bid is received until the extension period has expired with no additional bids.
For example, if the extension period specified by the Dudley Auctions is 2 minutes, and the scheduled ending time is 4 PM but a bid is placed at 3:59 PM, the auction event would automatically extend by 2 minutes and the auction event would close at 4:01 PM if no additional bids are placed during the extension time.
Highest Bid Acceptance: All offers are subject to review and approval by the Seller, as debtor-in-possession, in accordance with the Sale Order. Dudley Auctions will inform the highest bidder once the highest bid has been considered. The Seller and Dudley Auctions reserve the right to accept the highest and/or best offer in the event this is not the same offer. If the high bid is not accepted, the deposit charged at the Fall of the Hammer will be refunded in full.
Inspection: The property is being sold “where is,” “as is,” “with all faults,” with no representations or warranties except for the special warranty of title to be included in the deed to the real property. All property descriptions and due diligence documents are provided by Dudley Auctions as a service to customers and do not constitute a warranty, either expressed or implied. All bidders are responsible for the inspection of the property and by making a bid(s) on the property are deemed to have so inspected the property to their satisfaction. Placing a bid, whether in-person, by agent, through the online bidding platform, or any other means, constitutes an agreement by participant to these conditions of sale. Dudley Auctions assumes no liability for errors or omissions in this or any other property listing or advertising or promotional/publicity statements and materials.
Maximum Bid: Registered Bidders will have the ability to submit a maximum bid amount (often called a “Max Bid”) through the online bid platform and to direct that our website bid on such bidder’s behalf in scheduled increments until the maximum amount identified by the bidder has been reached. If a Max Bid is entered in the same amount as another bidder’s previously entered Max Bid, the earlier Max Bid will be deemed to be the prevailing bid at that amount. In the event that there should be any dispute among bidders with regard to the identity or amount of the high bid, Dudley Auctions reserves the right to reopen bidding and may, in conjunction with such reopening of the bidding, designate one of the bidders as the “High Bidder” at the sole discretion of Dudley Auctions. All decisions by Dudley Auctions shall be final.
Megan’s Law Disclosure: All interested bidders are solely responsible for conducting any investigation regarding registered sexual offenders prior to bidding and should exercise whatever due diligence they deem necessary with respect to information on registered sexual offenders who might live near a property being offered for sale. Such information may be obtained by contacting your local police department or the Virginia State Police Sex Offender and Crimes Against Minors Registry.
Registration: In order to register and place bids for this auction event, all interested bidders will be required to register on the Dudley Auctions website, www.dudleyauctions.com. All Bidders registering for this auction event must be at least eighteen (18) years of age and must be eligible to bid at the sole discretion of Dudley Auctions, based on any past experiences with the registered bidder or otherwise. Registered Bidders may also be subject to verification through credit card information in the registration process through a third party service to verify the credit card has the appropriate funds necessary to register for this auction event.
If a prospective Bidder has been approved to bid at the auction event, the approved Bidder will receive email notification that they have been approved to bid at the auction event. Bidding rights are not absolute, and all registrations, even if successfully verified by credit card as described above, are subject to manual verification at any time by Dudley Auctions. Dudley Auctions also reserves the right to suspend or terminate any Bidder’s registration for this auction at any time.
Technical Problems: Dudley Auctions has made reasonable efforts to provide for online bidding for this auction event. All registered Bidders recognize and acknowledge, however, that technical problems with hardware, software, or internet connectivity, as well as human errors, may arise and may affect, without limitation, the Dudley Auctions website, the online bidding program and process, or internet service and access, and the registered Bidder’s connection to this auction event bidding program and process.
All registered Bidders further acknowledge that these and other technical problems may develop at any time with or without notice. All registered Bidders acknowledge and agree that neither Dudley Auctions nor the Seller are in any way responsible for any such technical problems, and that registered Bidders have no absolute or other right to be able to bid on this auction in the event of any such technical problems.
Notwithstanding the foregoing, all registered Bidders further acknowledge and agree that, in the event of any such technical problems, Dudley Auctions reserves the right to postpone or cancel the auction event and/or extend the bidding time for this auction event and/or schedule another auction event for the property, in the sole discretion of Dudley Auctions, and that any decision with regard to any such actions is and will be final.
Terms Specific to This Auction Event: Dudley Auctions may provide Additional Terms and Conditions that are specific to this auction event or the property or properties being sold at this auction event. Such Additional Terms and Conditions may, but shall not necessarily be required to, relate to the following provisions, among others: extended bidding time; and bid increments.
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