Tennessee Properties on Watts Bar Lake
SATURDAY, JULY 17, 11AM


Over the years, a Meigs County resident and a north Georgia developer have acquired lakefront property, surrounding acreage and commercial interests on and around Watts Bar Lake. In spite of the buyer’s market, the partnership has chosen this time to liquidate their Tennessee holdings. The pearl of this auction is that there is something for everyone.

You will have your choice of a brand new 4 bedroom, 3 bath lake home, homesites, estate size lakefront property or 1,000± lakefront acreage. Some properties have unheard of low opening bid prices and some properties will be selling at absolute auction….where the high bidder buys regardless of price.

Don’t miss this important real estate auction on a variety of properties on and around Watts Bar Lake on Saturday, July 17 at 11:00 a.m.

Property Description
101 56+/- Acre Tract in Rhea County, Divided Into Seven Tracts or As A Whole
102 20+/- Acres on Lake Divided into Two Lakefront Tracts or As A Whole
103 0.75 Acre Lake View Homesite
104 2,500± Square Foot Lakefront Home, New Construction
105 Two Residential Building Sites with Lake Frontage
106 35+/- Acres at Apollo Shores, Excellent Lake Frontage
107 12 Lot Tract with Lake Frontage
108 Interior Lots in Apollo Shores
109 Commercial Store/Restaurant/Campground/Putt Putt, Meigs County SOLD REMOVED FROM AUCTION
Property 101
Property 101 Property 101
  PROPERTY 101
56+/- Acre Tract in Rhea County
Divided Into Seven Tracts or as a Whole

Minimum Opening Bid: $30,900
 

This 56± acre tract has spectacular views of the main channel of Watts Bar Lake and the surrounding mountains. City water runs in front of each of the seven homesites that have been surveyed to give each buyer privacy, value and scenic beauty. Property has potential pond sites and is a stone’s throw from Rivermyst Development.

Directions: From Spring City, proceed north on Highway 27 and turn right on East Jackson Avenue. Turn left on Toestring Valley Road. Travel approximately 5.5 miles on Toestring Valley Road. Turn right on Lodge Road. Auction signs and arrows will direct.


Property 102
Property 102 Property 102
  PROPERTY 102
20+/- Acres on Lake Divided into Two Lakefront Tracts or as a Whole


This tract has been divided into two 10± estate lots. The property features over 330' of dockable main channel frontage and offers tremendous views of the main channel and scattered islands. Property is adjacent to Rivermyst Development with access to utilities.

Directions: From Spring City, proceed north on Highway 27 and turn right on East Jackson Avenue. Turn left on Toestring Valley Road. Travel approximately 5.5 miles on Toestring Valley Road. Turn right on Lodge Road. Auction signs and arrows will direct.


Property 103   PROPERTY 103
0.75 Acre Lake View Homesite


This homesite offers panoramic views of the main channel and is situated above spectacular lakefront homes and adjacent to estate size lakefront tracts.

Directions: From Spring City proceed north on Highway 27 and turn right on East Jackson Avenue. Turn left on Toestring Valley Road. Travel approximately 5.5 miles on Toestring Valley Road. Turn right on Lodge Road. Auction signs and arrows will direct.


Property 104

Click here for Slideshow

  PROPERTY 104
2,500+/-
Square Foot Lakefront Home, New Construction
Minimum Opening Bid: $299,900


This homesite offers panoramic views of the main channel and is situated above spectacular lakefront homes and adjacent to estate size lakefront tracts.

Directions: From Spring City, proceed north on Highway 27 and turn right on East Jackson Avenue. Turn left on Toestring Valley Road. Travel approximately 5.5 miles on Toestring Valley Road. Turn right on Lodge Road. Auction signs and arrows will direct.


Property 105   PROPERTY 105
Two Residential Building Sites with Lake Frontage
Minimum Opening Bid: $110,000


Adjacent to the newly constructed home are two dramatic 0.5 acre lake lots with county road frontage and dockable year round water.

Directions: From Spring City, proceed north on Highway 27 and turn right on East Jackson Avenue. Turn left on Toestring Valley Road. Travel approximately 5.5 miles on Toestring Valley Road. Turn right on Lodge Road. Auction signs and arrows will direct.


Property 106  
PROPERTY 106
35+/- Acres at Apollo Shores, Excellent Lake Frontage
Minimum Opening Bid: $195,000


This unique property offers the individual their own private preserve with over 1,000’ of dockable shoreline and views up to 40 miles. A developer would have the potential for 51 lots, 20 of which would be lakefront. City water is in place and runs along the spine of the property.

Directions: From Spring City, proceed north on Highway 27 and turn right on East Jackson Avenue. Turn left on Toestring Valley Road. Travel approximately 8 miles on Toestring Valley Road. Apollo Shores is on left. Auction signs and arrows will direct.


Property 107
Property 107 Property 107
  PROPERTY 107
12 Lot Tract with Lake Frontage
Minimum Opening Bid: $35,000 per tract


 

These lots will be sold individually, as a combination or as a whole. The three lots at the end of the cul-de-sac are spacious lakefront lots.

Directions: From Spring City proceed north on Highway 27 and turn right on East Jackson Avenue. Turn left on Toestring Valley Road. Travel approximately 8 miles on Toestring Valley Road. Apollo Shores is on left. Auction signs and arrows will direct.


Property 108
Selling at
Absolute Auction

  PROPERTY 108
Corner and other Prime Lots in Apollo Shores
Selling at Absolute Auction


Although not lakefront lots, a sampling of individual homesites are being offered for their views, terrain or natural beauty and will sell at absolute auction….where the highest bidder buys, regardless of price.

Directions: From Spring City, proceed north on Highway 27 and turn right on East Jackson Avenue. Turn left on Toestring Valley Road. Travel approximately 8 miles on Toestring Valley Road. Apollo Shores is on left. Auction signs and arrows will direct.


Property 109

  PROPERTY 109 REMOVED FROM AUCTION
Commercial Store/Restaurant/ Campground/Putt-Putt
Meigs County

This Meigs County property enjoys brisk seasonal business and has acted as headquarters for the selling partners. With this partnership liquidation, there is no further need for offices or these businesses.

 

N O T E

On seeing the properties, it is evident that the sellers have a high regard for quality.
This has caused the developer to be the builder of choice for professional athletes,
musicians and individuals who appreciate both quality and value.

Despite the current market, the sellers are focusing on
liquidating their holdings which presents a unique opportunity for buyers.



With owner financing being offered to qualified individuals,
this is truly an opportune time to take advantage of the current buyer’s market.

  Location Map

 

AUCTION TERMS & CONDITIONS


AUCTION LOCATION
: The auction will be held on Property 101, Lodge Road, Spring City, Tennessee on Saturday, July 17 at 11:00 a.m.

 

INSPECTION: John Dixon & Associates' representatives will be on the properties the following dates or by appointment.

Saturday July 3 2 p.m. to 5 p.m.
Sunday July 4 2 p.m. to 5 p.m.
Saturday July 10 2 p.m. to 5 p.m.
Sunday July 11 2 p.m. to 5 p.m.

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 Tuesday, August 17, 2010.

CLOSING ATTORNEY: Closings will be conducted by J. Arnold Fitzgerald, Dayton, Tennessee (423.775.3530). Deed preparation and attorney's fees for conducting the closing shall be split 50/50 between the seller and buyer. All other normal closing costs shall be paid by the purchaser including title insurance.

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.

BROKER PARTICIPATION: A 2% commission of the high bid, before adding buyer’s premium, will be paid to any qualified 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 first register the prospect by mail, deliver by hand, fax or email (mail@johndixon.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 4:00 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 for broker form.

 

AGENCY: John Dixon & Associates and Henry B. Glascock, auctioneer/brokers, are acting exclusively as agents for the seller.

 

SPECIAL NOTE: Property sells "as-is, -where-is" with all faults and sells 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, reject any bid unless selling absolute and/or cancel the sale. Property will be conveyed by Warranty Deed. Information contained herein was obtained by sources deemed reliable. The seller and their agents reserve the right to place bids on the property up to seller’s reserve, if desired, at their sole discretion, unless selling absolute. The property will sell "as-is, -where-is" with no warranty, express or implied, as to improvements, soil conditions, 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.

John Dixon & Associates

423.825.0049
800.479.1763

Contact John Dixon & Associates
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