Historic home with unsurpassed architectural design and
construction materials selling at ABSOLUTE AUCTION!
This is truly a unique buying experience where a family trust is seeking a prompt sale for division among heirs. The family partnership has contracted with JDA to sell the historic Giles house on Lookout Mountain at absolute auction…where the owners do not reserve the right to reject any bid. In this current atmosphere of depressed real estate sales, this auction offers serious buyers the opportunity to buy this valuable property at the price they set at absolute auction. Remember, the highest bid will own the property. Mark your calendar and be at the auction on Thursday, July 23 at 7:00 p.m. and buy at the price you set.
About the Giles House
Known for the elegant detail and prominent location near Lookout Mountain's Point Park, the Giles house was built by David Giles in 1906. Near the end of his illustrious career, the residence was the home of David Giles for only four years prior to his passing. Masterfully converted to six grand apartments in the 1940s, the home was recently vacated and awaits a new owner to restore it to its original splendor as a single-family home. Even today, the home reflects an association of styles in an ornate fashion and presents them prominently with ceremonial facades facing East Brow Road and Richardson Street. The Giles house remains one of the most beautiful and oldest homes on Lookout Mountain.
The one-acre site features the main house, the Carriage House and a large level lawn. The main house faces the brow with panoramic views of downtown Chattanooga and the Tennessee River. A low-stacked stone wall faces the public view and provides a strong frame for the ornate details of the circular covered terrace and stately Corinthian columns. Surrounded by beautiful, mature landscaping, the private lawn, located away from the more traveled East Brow Road, consists of a 65' x 100' level lawn court for active or passive wiling away of time.
Located near Point Park and the Incline on Lookout Mountain's noted East Brow, the Giles house is surrounded by a portion of the nation's largest Civil War Military Park and the site of the historic Battle Above the Clouds. The property, located at 1102 East Brow Road, Lookout Mountain, Tennessee, is flanked by elegant homes and numerous remnants of the rich history this district has experienced.
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David Giles, 19th Century Industrialist
By the late 1800s, Chattanooga was one of the South's great casting and foundry centers. Born to Welsh parents in Pennsylvania, David Giles moved to Nashville in 1857 as the foreman of a foundry. In 1886, Mr. Giles established his own foundry. After a successful first year, he partnered with C.B. Isbester and moved the foundry to Chattanooga where the U.S. Cast Iron Pipe and Foundry Company operated until its close in 2006. He remained a director until his death in 1910. Mr. Giles is said to have possessed a great inventive ability and is credited as an expert mechanic as well as one of Chattanooga's founding fathers of industrialism.
AUCTION TERMS & CONDITIONS
Auction Location: The auction will be held on site at the historic Giles House, 1102 East Brow Road, Lookout Mountain, Tennessee.
Inspection: John Dixon & Associates' representatives will be on the property on Sundays, July 12 & 19 from 2:00 p.m. until 4:00 p.m. each day, or you may call 423.825.0049 to see the property by appointment.
Terms: Pay 10% down of the purchase price at the auction. Balance will be paid in full at closing to be held within 30 days. A copy of the sale contract may be reviewed prior to the auction by contacting the auctioneer.
Closing: Balance of the purchase price is due in 30 days, on or before Monday, August 24, 2009.
Buyer's Premium: A 10% buyer's premium will be added to the high bid. Example: For each $10,000, a 10% buyer's premium of $1,000 will be added to arrive at the total purchase price of $11,000.
Closing Attorney: Closings will be conducted by Milligan & Reynolds Guaranty (423.756.0911). Deed preparation and attorney's fees will be paid by the seller; all other normal closing costs will be paid by the purchaser. Taxes will be prorated as of date of closing. Title insurance shall be purchased at purchaser's expense.
Broker Participation: A 2% commission of the high bid, before adding buyer's premium, will be paid to any qualifi ed licensed Tennessee real estate broker whose prospect is the successful bidder at the auction and closes on the property. To qualify for a commission, the broker must fi rst register the prospect by mail, deliver by hand or fax or email (email@example.com) the prospect's name. The registration must include the property in which the prospective purchaser is interested, the signature of the prospective purchaser, the signature of the broker and the broker's real estate license number, address, phone and email. The registration must be received at 3908 Tennessee Avenue, Suite A, Chattanooga, Tennessee 37409, Attention: Jimmy McGinness, no later than 5:00 p.m. eastern time on the business day preceding the auction. Broker registration may be faxed to 423.825.0019. UNDER NO CIRCUMSTANCES WILL BROKER REGISTRATION BE ALLOWED ON THE DAY OF THE AUCTION. In addition, to qualify for a commission, the broker must attend the auction with the prospect. Commissions will be paid only if property closes. A commission on a property will be paid only to the first broker registering a prospect. A BROKER CANNOT ACT AS A PRINCIPAL AND BROKER ON THE SAME TRANSACTION.Click here to download a broker participation form.
Agency: John Dixon & Associates, auctioneer/broker, is acting exclusively as agent for the seller.
Special Note: Property is selling "as-is, where-is" with all faults and is selling subject to easements, leases, restrictions, covenants, conditions, zoning and all other matters revealed by a current survey or an inspection of the property or contained in public records. The only representation and warranties made are those contained in the Contract of Sale. Seller reserves the right to add or delete property or cancel the sale. Properties will be conveyed by Limited Warranty Deed. Information contained herein was obtained from sources deemed reliable. The property will sell "as-is, where-is" with no warranty, express or implied, as to improvements, soil condition, environmental and wetlands, or zoning. No personal property conveyed with real estate unless denoted in contract. Although every precaution has been taken to ensure accuracy, neither the seller, John Dixon & Associates nor their agents will be responsible for any errors or omissions herein. Bidders should carefully verify all information and make their own decisions as to the accuracy thereof before submitting their bid. The terms of the Contract of Sale are controlling in the event of any perceived inconsistency between its terms and any statements in this brochure or other advertisement. Announcements made at the auction will take precedence over written matters.