|170.06 +/- Acres of Timberland in Marion County, TN|
|Date & Time:||Sold Online - May 10, 2012|
These 170.06 +/- acres in Marion County, TN sold at absolute online auction for $110,220. Located off of Martin Springs Road, this productive timberland is easily accessed from Interstate 24. This sale was conducted in conjunction with Prudential Woodmont Realty.
Gross Auction Sales: $110,220.00
Participating Bidders: 13
Dates and Times
Tuesday, April 17th, 2012
Terms and Conditions
By participating in this auction the bidder agrees to the following terms and conditions:
- Absolute Auction:
The property will sell to the highest bidder(s) without reserve at absolute auction.
- No Buybacks:
The owner is contractually prohibited from bidding on his own property.
- Buyer's Premium:
A buyer's premium of ten percent (10%) of the high bid price will be added to the high bid price to determine the total contract sales price for the property.
- Auction Ending:
Beginning at the stated closing time, the auction software will conclude bidding for one lot every 5 minutes in catalog order with the following exception: if a bid is placed in the last five (5) minutes remaining for that auction lot, bidding for that lot will remain open for an additional five (5) minutes.
- Outbid Notification:
Until the auction begins to close, the bidding software will notify bidders by email when they have been outbid. After that, bidders may find out if they have been outbid by clicking the "Review Bids" button at the bottom of each page. Items the bidder is no longer winning will be marked with a red indicator.
- Agreement of Purchase and Sale:
The purchaser(s) shall execute an agreement of purchase and sale, in the form provided by the auctioneer, without modification, immediately after being declared the high bidder.
The purchaser(s) shall pay an amount equal to 15% of the total contract sales price to the Escrow Agent by 5:00 PM CT on May 14, 2012. The Escrow Agent shall accept the following forms of payment: cash, wire transfer, cashier's check, personal check, or company check. There may be a fee associated with payment of the deposit or purchase money by wire transfer. Contact the Escrow Agent if you intend to pay this way.
- Escrow Agent:
The deposit, earnest and purchase monies in respect of the property shall be paid to and deposited with Sam Anderson, Attorney at Law. (615) 331-1220. 205 Powell Place, Suite 103, Brentwood, TN 37027.
Sellers shall provide a warranty deed.
The balance of the purchase price shall be paid at or before closing. Closing shall take place on or before June 8, 2012. The Escrow Agent will schedule and conduct closing.
- Title Insurance:
Sellers shall provide an owner's title insurance policy in the amount of the purchase price.
- Closing Costs:
At closing, Seller shall pay for its escrow and closing fees and all of the costs for preparation of all documents to convey the property. At closing, purchaser shall pay for its escrow and closing fees, any and all recording fees, and all other sale, financing or closing fees as required. Taxes shall be prorated to the date of closing.
- Cash Sale:
This is a cash sale and is not contingent on purchaser's ability to obtain financing.
Purchaser will receive possession at closing.
- As-Is Sale:
The Purchaser shall accept the property in an as-is condition with all faults as of the closing date and the purchaser shall specifically agree that the seller has not and does not make any representations or warranties of any kind whatsoever, expressed or implied, to the purchaser regarding the property or any improvements thereon. The property is selling subject to anything an accurate survey or personal inspection of the property may reveal, including any existing rights-of-way, easements or claims to easements, encroachments, rights or claims of parties in possession, restrictive covenants and easements, flood zones, zoning or subdivision regulations, building codes, governmental agencies regulations, environmental conditions, lead-based paint, asbestos, radon gas, hazardous materials, any mineral rights, water rights, riparian or littoral rights, and reservations or conveyances, if any. The purchaser shall have satisfied himself as to the location and condition of the property, and all descriptions thereof, before bidding. All information contained in the brochure and all promotional materials, including, but not limited to, square footages, acreage, dimensions, maps, taxes, etc., was provided by the seller and is believed to be correct; however, neither the seller nor the auctioneer makes any guarantee or warranty as to the accuracy or completeness of such information.
Sale of the property is subject to any and all easements of record.
- No New Survey:
The property will be conveyed according to the existing legal description.
McLemore Auction Company, LLC and its representatives are exclusive agents of the seller and are agents of no other party to this transaction.
All decisions of the auctioneer are final as to the methods of bidding, disputes among bidders, increments of bidding and any other matters that may arise before, during, or after the auction. Seller reserves the right to deny any person the right to participate in the auction or to ban anyone from the auction who attempts to disrupt it.
- Equal Opportunity Clause:
All bidding is open to the public. The property is available to qualified purchasers without regard to a prospective purchaser's race, color, religion, sex, familial status, national origin, or physical handicap.
- Debt Collection and Interest Charge:
The bidder agrees to pay all reasonable attorney fees and other costs incurred by McLemore Auction Company, LLC in its efforts to collect unpaid funds from the bidder. The bidder agrees that a fee of 2% of the outstanding balance per month be added to any unpaid balance due McLemore Auction Company, LLC. Any debt collection or dispute proceedings will be heard in Davidson County, Tennessee.
- Guaranty Agreement:
By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees payment of any bid amount not paid when due by the business entity or corporation, for any reason, together with all collection expenses incurred to enforce collection, including a reasonable attorney's fee.
- Age Requirement:
All bidders must be 18 years of age or older.
- Bidder Information and Security:
All registration information the bidder provides to McLemore Auction Company, LLC shall be current, complete, and accurate. All bidders are responsible for any bids placed under their bidding numbers and passwords. The security of bidder information is the responsibility of the bidder. Bidders must notify McLemore Auction Company, LLC if they believe that their bidder number and password have been compromised.
In Conjunction With
|CONTACT:|| Tommy Anderson|
Phone Number: (615) 661-7800
locationPrimary filterBy2526 categoryContent-Lot--
Participating Bidders: 13
|Categories:||ALL ITEMS (1)|