Terms of Sale:
Registration at the auction finalizes each bidder's agreement to the terms and conditions of sale as stated in the Contract and its Addenda which are incorporated by reference into your bidding. DO NOT BID unless you have registered and received a Bidder's Card and Sale Day Notes and agreed to be bound by the terms of sale in the Contract as they are final upon you becoming a high bidder.
All properties are sold "AS IS, WHERE IS" with no financing, inspection or other contingencies to sale. Williams & Williams represents the Sellers only and does not inspect properties on bidder's behalf. Do not bid if you have not inspected the property(s).
Buyers receive insurable title to each property, as evidenced by the Title Insurance offered by the Closer indicated in the Contract. Current year's property taxes are pro-rated through day of closing as customary. Any manufactured housing not already considered attached to the real estate will be conveyed only with hold harmless agreement or quit claim Bill of Sale unless otherwise noted.
Each high bidder must make a 5% ($2,500 MINIMUM) non-refundable deposit per property. Cash, cashier's checks, and personal checks (electronically processed) are accepted. The balance of the purchase price and all closing costs are due within 30 days. Closing costs generally total approximately $1,500 and include title exam, title policy, closing fee, filing costs and any other fees noted. A fee of $3,000 is also due on all properties for the services required pre-auction until closing. If for any reason Seller does not perform or accept the terms of the Contract, the sole remedy shall be the return of Buyer's deposit.
A "QUICK CLOSE" option, if available (see Disclosures or listen day of sale), allows Buyers to save on title/closing costs (per above, approximately $1,500). To qualify, buyer must pay the purchase price plus any other non-title fees (such as the $3,000 service fee as noted above) in full day of sale.
Bidding starts at the nominal Opening Bid(s) indicated and is open to the public. The Auctioneer will call the sale and control any increments of bidding. To make a bid, raise your hand or Bid Card to be recognized. The bidding usually takes less than 3 minutes for each property. Absentee bids may be accepted at the discretion of the Auctioneer. The Auctioneer reserves the right to enter bids on behalf of absentee bidders as specified in 21 NCAC 4B. Any mistakes during bidding as to who has the high bid and/or at what price may be called to the Auctioneer's attention and corrected. The Auctioneer is the sole arbiter and controller of the conduct of the auction and shall be the final and absolute authority without liability to any party.
Do not inspect properties and/or attend an auction except at your own risk. Auctioneer, Broker, and Seller, their agents and employees, expressly disclaim any "invitee" relationship and shall not be liable to any person for damages to their person or property while in, on or about these properties, nor shall they be liable for hidden defects, dangers or conditions. All persons shall be on the premises at their own risk and shall defend, indemnify, and save harmless Auctioneer, Broker, and Seller from any and all liability attendant thereto.
All auctions are subject to court or seller approval. Most sales are approved within 7 business days. Buyers are not allowed possession until filing of the deed, at which time the property should be re-keyed. "Showing" requests from Buyers after the auction may not be able to be accommodated.
If more than one property, the Auctioneer may choose to offer a group of the properties for auction at the same time. The price being called for and bid is for any one property only. This is called "BUYER'S CHOICE" and is to accommodate buyers who have an interest in more than one property and/or have 2nd and 3rd choices if they are out bid for a favorite property. Upon winning the bid, please choose which property, or properties, you want. You pay the high bid price for each property selected. Each sale is final and stands alone. Remaining properties are then offered in another round of bidding. 2nd high bidders do not win a right to choose. Anyone may bid at any time, including prior High Bidders.
Williams & Williams and the Seller expressly disclaim any liability for errors, omissions or changes regarding any information provided for these sales. Potential purchasers are strongly urged to rely solely upon their own inspections and opinions in preparing to purchase property and are expressly advised to not rely on any representations made by the seller or their agents. Property information may change without notice and potential purchasers should investigate all data fully before relying upon it.
Legal Description: LOCATED IN THE 2ND CIVIL DISTRICT OF RHEA COUNTY, TENNESSEE, TO WIT:
BEING TRACT THREE OF THE UNRECORDED PLAT OF PROPERTY OF RICHARD TROOST, DATED MARCH 1989, AND MORE
PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT THE INTERSECTION OF THE SOUTHERNMOST CORNER OF TRACT 3 AND THE NORTHERN CORNER OF TRACT 2,
LYING IN THE RIGHT OF WAY OF SUNSET DRIVE; RUN THENCE ALONG TRACT 2 SOUTH 58 DEGREES 48' EAST 458.8 FEET TO A
CORNER; THENCE NORTH 39 DEGREES 27' EAST 1079 FEET TO A CORNER; THENCE SOUTH 17 DEGREES 13' WEST 787.9 FEET
TO A POINT; THENCE ALONG THE CUL-DE-SAC OF SUNSET DRIVE IN A SOUTHWESTERLY DIRECTION A RADIUS OF 50 FEET TO A
POINT; THENCE ALONG SUNSET DRIVE A GENERALLY SOUTHWESTERLY DIRECTION 229.5 FEET TO THE POINT OF BEGINNING.