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Wayside house auctioned off

By Ryan Cornell

A house once belonging to the Wayside Foundation for the Arts was auctioned off for $75,000 on Tuesday.

The winning bid for the property, located at 7864 Main St. in Middletown, was from BB&T.

According to the website for the RE/MAX real estate company, the 1,614-square-foot house -- which includes four bedrooms and one bathroom -- was last sold in October 2003 for $115,000. It listed the house as being built in 1891.

The Wayside Foundation also owns the neighboring theater that closed last fall. Attorney Michael L. Bryan, counsel for BB&T, described the house as a "straightforward foreclosure."

He said the house will be held by the bank for resale.

"The bank will typically buy property like this from foreclosure and turn it over to their real estate department, who then turn it over and sell it," he said.

Auctioneer Dave Owings said there were three active bidders out of the six or seven people attending the auction.

Contact staff writer Ryan Cornell at 540-465-5137 ext. 164, or rcornell@nvdaily.com

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