SALES 1-7 (JUNE 13, 2014 AUCTION) STATEMENT OF SALE & ONLINE BIDDING TERMS
The sale of ALL PROPERTIES SALES 1-7, REAL ESTATE AND PERSONAL PROPERTY, TO BE SOLD JUNE 13th, 2014, will be sold as follows:
10% BUYERS PREMIUM WILL BE ADDED TO EACH SUCCESSFUL BID
All newspaper or other publications and all oral and verbal statements as to advertising made by owners of said property and by McCarter Auction, Inc., or any agent of said company, or by Scott E. McCarter, are hereby revoked.
This is an Absolute Auction - All Sales are Final. Each Sale # has its own announcements. Please pay very close attention as this will cover the terms and conditions for that property. The highest bid plus a 10% Buyers Premium will be the total sales price. All successful bidders will be required to sign a note for the deposit amount, in addition to deposit paid day of sale. Note shall become null and void when buyer shall complete all requirements for closing as set out in their contract.
ALL ONLINE BIDS ON THIS JUNE 13TH 2014 AUCTION START MONDAY, JUNE 9TH AT 10:30 AM EDT AND WILL END ON FRIDAY, JUNE 13TH DURING LIVE AUCTION BEGINNING AT 6:00 PM EDT. BY PLACING AN ONLINE BID FOR LIVE EVENT, SALES 1-7, YOU AUTHORIZE MCCARTER AUCTION, INC. OR ITS AFFILIATES TO IMPLEMENT YOUR BIDS AT THE LIVE AUCTION.
NOTE: during the live close of this simulcast auction a system operator will sit next to the auctioneer and offer online bidders the same bid opportunities that are being offered to the onsite bidders. If a bid is made via the internet, the operator will represent that bidder. Note that the operator may be bidding for several different online bidders at the same time. No preference is made for either onsite or online bidders; the bid will go to the first accepted by the auctioneer. Any tie bid or other issues regarding who has the high bid are always resolved by the Auctioneer, who has complete and final authority.
THE FINAL SALE OF PROPERTIES USING INTERNET BIDS AND LIVE ONSITE BIDS WILL DETERMINE THE WINNING BIDDERS OF PROPERTIES AS ADVERTISED.
This is an Absolute Auction and will sell to the highest and best bidder. Auctioneer is in full charge of auction having the right to set bid increments throughout the sale, settle any bid disputes, and accept or reject any bids at his discretion.
Terms for Real Estate are 10% down today, balance at closing within 31 days. Buyer to pay one-half of closing fee, in addition to their other individual closing costs. Please note that Johnson, Murrell and Associates will be the exclusive closing agent for all transactions. Terms for Personal Property are cash or good check today.
NOTICE!! A 10% Buyers Premium will be added to all successful bids. The highest bid plus the 10% (ten percent) Buyers Premium will be the total sales price. Any changes made to buyers paperwork, including Warranty Deed or Trust Deed, must be made by this Wednesday, June 18th, or buyer may be charged for double paperwork at closing. Bidders must be ready, willing and able to close within 31 days. Please do not bid unless prepared to do so.
The properties will be sold in tracts and adopt the sale which brings the highest and best bid. The contract you sign on this property is final and binding. Sale #2 will be sold high bidder choice then grouping will be offered with a 5% raise per Grouping Outline available online and at Civic Center during Open House and day of sale. All successful bidders will be required to sign a note for the deposit amount with the contract, in addition to deposit paid day of sale. Note shall become null and void when buyer shall complete all requirements for closing as set out in the contract.
Taxes for the 2014 year to be prorated at closing and any back taxes to be paid by seller at closing. Closing for real estate will be on or before 31 days. Possession of all properties to be given at closing. Homes, barns, buildings, and all other properties to be sold in as is condition with no guarantees or warranties expressed or implied. Please rely on your previous inspections of all properties. Copies of surveys, restrictions and zoning regulations of properties are available online and here today. Pick up for personal property items are today immediately after the sale or Wednesday, June 18th, from noon to 4:00 pm at 3140 Newport Hwy, Sevierville TN 37876. Personal property not removed by 4:00 pm on June 18th, 2014 becomes the buyers responsibility.
The properties will be sold subject to zoning, easements and restrictions of record and will be sold as described from maps. The properties will be sold free from all encumbrances and a Warranty Deed will be executed by the owner to the purchaser for said land.
REMEMBER, this is an Absolute Auction and all sales are final. Do not bid unless you are prepared to pay appropriate deposit today and meet all conditions to close as set out in your contract.
NOTICE!! Please pay very close attention as each property is presented. Some properties will have specific pertinent information, which will be online and announced prior to that property being sold.
BID PACKAGE: Auction Sales Contract & Promissory Note Package, along with any other paperwork pertaining to each sale #, will be sent by e-mail from McCarter Auction Inc to the successful online bidder, who must execute and fax or email back to McCarter Auction Inc within 24 hours of receipt. Successful online bidders not executing and returning their contract & promissory note with earnest money deposit (10% non refundable deposit of total purchase price (certified funds or wire) made payable to McCarter Auction Inc) within 24 hours of receipt will be considered in default and subject to an Administrative Fee (as defined below). All Administrative Fees are non-refundable. The entirety of the remaining balance is due at closing. Purchaser shall be responsible for all wire transfer fees and closing fees as set out in Auction Sales Contract and Auction Statement of Sale.
Auction Administrative Fee: In the event a winning online bidder fails to submit the signed Auction Sales Contract, signed Promissory Note, and deposit earnest money as provided in the pre-stipulated Auction Terms, the winning online bidder will be charged an administrative fee of $2,500.00 on the credit card provided at auction registration. Additional default remedies are reserved by McCarter Auction Inc and the Seller as provided in the Auction Statement of Sale, the Auction Sales Contract and the Promissory Note. All Administrative Fees are non-refundable.
AUCTION SALES CONTRACT, PROMISSORY NOTE, and STATEMENT OF SALE: Each property is offered under specific terms provided in the auction sales contract, promissory note, and statement of sale. The Auction Sales Contract, Promissory Note, Statement of Sale are available at www.mccarterauction.com in the View Documents section of this auction website. Please read and review the contract, promissory note, and statement of sale thoroughly prior to bidding on any property. If you have not read and reviewed the Auction Sales Contract, Promissory Note, Statement of Sale and all other materials available plus completed your own due diligence to satisfy all questions, please Do Not Bid!
Buyers Premium: A 10% buyers premium will be added to the bid price on all properties to determine the final contract price.
McCarter Auction Inc has the sole authority to resolve any bidding disputes as they may arise.
McCarter Auction Inc is providing internet/online bidding as a service to Bidder. Bidder acknowledges and understands that this service may or may not function correctly the ending day of the auction. Under no circumstances shall Bidder have any kind of claim against McCarter Auction Inc or anyone else if the internet service fails to work correctly before or during the ending of the auction. McCarter Auction Inc will not be responsible for any missed bids from any source.
INDIVIDUAL PROPERTY TERMS:
SALE #1 PHILLIPS ESTATE 5.5+AC IN 2 TRACTS W/HOME & BARNS, 2849 CEDAR BLUFF RD, SEVIERVILLE TN
Home on Tract 1, according to one of the Phillips heirs, the basement walls were repaired in the mid 1990s "dug out behind and extra concrete was added" also one side of garage floor has large crack. Home, barns, buildings and all property sold in as is condition. A lead based paint disclosure must be signed by buyer of home. Termite inspection letter will be provided to buyer of home. No treatment was required. Possession of home and this property to be given at closing. Zoned A-1 Sevier County. There is utility water available. Home is on septic. Old house on Tract 2 not livable. Note overhead power lines as shown on map.
SALE #2 19+AC IN 4 TRACTS ON RIDGE RD, SEVIERVILLE TN
Property zoned R-1, City of Sevierville. See copy of restrictions available online and at Civic Center during Open House and day of sale. These lots will sell High Bidder Choice then offered as a group with a 5% raise as per Grouping Outline available online and at Civic Center during Open House and day of sale. City water and sewer in area. Buyer responsible for costs to extend service to building site(s). Subject to transmission line easements, water line easements, public utility easement, tower site leasehold area, road easements, and power line easements, as shown on map dated May 2, 2014 by Howard T Dawson, Registered Land Surveyor.
SALE #3 LOTS 3, 4 & 5 SELL AS ONE LOT FOR ONE PRICE, ANGLERS WOODS S/D JEFFERSON COUNTY TN
Property zoned A-1, Jefferson County. See copy of restrictions and Jefferson County Restricted Septic Approval available online and at Civic Center during Open House and day of sale. This property is subject to Home Owners Association. Buyer(s) must join Home Owners Association and abide by their rules and regulations and pay appropriate fees. Subject to TVA flowage easement on land lying below 1007 contour line of Douglas Lake. Property will be deeded to the Douglas Lake 1002 contour line. Anglers Woods S/D is a gated community. Buyer to receive access card to gate.
SALE #4 LOTS 2 & 3 JOSE-CAR S/D, JEFFERSON COUNTY TN
Property zoned A-1, Jefferson County. See copy of restrictions and Jefferson County Septic Approval available online and at Civic Center during Open House and day of sale. Subject to TVA flowage easement on land lying below 1007 contour line of Douglas Lake. Property will be deeded to the Douglas Lake 1002 contour line. Lots 2 & 3 sell subject to a right-of-way providing access to the waters of Douglas Lake as they recede, and for a boat ramp, provided necessary permits are obtained. A small portion of Lot 3 adjoins 1002 contour line at head of cove. This lot, Lot 3, would only have water at the very, very highest lake level.
SALE #5 LOT 15 JESSEE MANNING S/D, 13.5 AC FRONTING BUCKHORN RD, JEFFERSON COUNTY TN
Property zoned A-1, Jefferson County. See copy of restrictions available online and at Civic Center during Open House and day of sale. This Lot has no lake frontage.
SALE #6 4.74 TOTAL ACRES IN 2 TRACTS DOUGLAS LAKEFRONT, 737 & 715 BRIGHTSTONE WAY, JEFFERSON COUNTY TN
Property zoned A-1, Jefferson County. Brightstone Way is a private road. Property owners are responsible for maintaining this road. Brightstone Way is gated and buyer(s) will receive gate key. Subject to TVA flowage easement on land lying below 1007 contour line of Douglas Lake. Subject to the right-of-way of Brightstone Way. These two tracts front the head of a cove on Douglas Lake. Per Jefferson County Health Department, there was no record found of septic approval. Buyer(s) of these two tracts are buying as is and would be responsible for obtaining possible septic approval.
10% BUYERS PREMIUM TO BE ADDED TO EACH SUCCESSFUL BID