AUCTION LOCATION: The auction will be held on Thursday, September 23, 6:00 p.m. EDT on site at Harrison Acres, Caseview Drive (off Harrison Bay Road), Harrison, Tennessee.
INSPECTION: Property open for inspection. John Dixon & Associates’ representatives will be on the property Sunday, September 19 from 2:00 p.m. until 4:00 p.m.
TERMS: Pay 20% 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.
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 (firstname.lastname@example.org) 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 to download a broker form.
CLOSING: The balance of the purchase price of real estate is due in 30 days, on or before Monday, October 25, 2010.
CLOSING ATTORNEY: Closings will be conducted by Brian Kopet of Title Guaranty & Trust in Chattanooga (423.266.5751). Deed preparation and attorney’s fees for conducting the closings will be paid by the seller. All other normal closing costs, including title insurance, shall be paid by the purchaser. Seller shall pay its pro rata share of the 2010 property taxes at closing based on the 2009 tax bill.
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 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. 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.
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