SALES 1-6 (SEPT 6, 2014 AUCTION) STATEMENT OF SALE & ONLINE BIDDING TERMS
The sale of ALL PROPERTIES SALES 1-6 TO BE SOLD SEPT 6th, 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.
Sales 1-6 will be an Absolute Auction - All Sales are Final and will sell to the highest and best bidder. 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 SEPT 6TH 2014 AUCTION START WEDNESDAY, SEPT 3RD AT 10:30 AM EDT AND WILL END ON SAT, SEPT 6TH DURING LIVE AUCTION BEGINNING AT 10:30 AM EDT. BY PLACING AN ONLINE BID FOR LIVE EVENT, SALES 1-6, 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 30 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.
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, Sept 10th, or buyer may be charged for double paperwork at closing. Bidders must be ready, willing and able to close within 30 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. 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 30 days.
Possession of all properties to be given at closing WITH EXCEPTION OF SALE #5 - SEE BELOW
Homes, 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.
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 #1 131 AC SMOKY MTN FARM, SEVIER COUNTY, TN BANKRUPTCY COURT CASE NO. 07-32016
Home, buildings and all property sold in as is condition. Possession of property to be given at closing. Zoned A-1 Sevier County. Old homes not livable. Note overhead power line to old home as shown on map. ACCESS TO PROPERTY: per Title Attorneys Opinion access to the property is over a road designated on the Tax Maps as Dockery Branch Road which gives access to Henry Town Road, a county road. There is not to be found an easement deed for said road, however the property has prescriptive rights to use the road for access. The unmaintained road runs all the way through the property and may be subject to access by adjoining properties. This property is being sold by older survey done by Charles H. Freeman, RLS last revised January 7, 2005. Copies of this survey are available online and at Civic Center during Open House and day of sale. This is an absolute auction and is not subject to court approval.
SALE #2 6.5 AC TRACT RIDGETOP BUILDING SITE, SEVIER COUNTY, TN
Property zoned A-1, Sevier County. See copy of restrictions available online and at Civic Center during Open House and day of sale.
SALE #3 3.91 AC ON DUMPLIN CREEK, KODAK, TN
Property zoned R-1, Sevier County. See copy of restrictions available online and at Civic Center during Open House and day of sale. Utility water available. Field line and septic is required. Note the back portion of this property along Dumplin Creek is within the 100-year flood area as shown on map by Eddy R. Garrett, RLS.
SALE #4 6.63 AC BABY FARM TRACT, JEFFERSON COUNTY TN
Property zoned A-1, Jefferson County. This property will require a well and field line and septic system. See notes on map by Eddy R. Garrett, RLS.
SALE #5 HOME LOCATED AT 2217 WALNUT AVE, JEFFERSON CITY, TN
Property zoned R-2, Jefferson City. Home 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. Please see copy of termite inspection letter available online and at Civic Center during Open House and day of sale. No live termites were found, but treatment for termites was recommended. Buyer will be responsible for treatment. Home is presently rented on a month to month basis at a rate of $400 per month. Rent to be prorated day of closing. If new buyer of home desires to no longer rent home, buyer must give current renter at least 30 days notice. Per seller, home is presently on city water and sewer.
SALE #6 1.15 AC IN JEFFERSON CITY, TN
Property zoned R-2, Jefferson City. Per Shady Grove Utility District, utility water is available and there is an $850 tap fee. Field line and septic may be required. City sewer may be in area, but would be buyers expense to extend to property if Jefferson City allows. See notes on recorded map by Johnny D. Kerr, RLS dated February 20, 2005 and updated survey by Eddy R. Garret, RLS dated July 3, 2014. Mineral and mining rights do not sell with property.