When Time Matters, Call the Auction Professionals

When Time Matters, Call the Auction Professionals

LAND BANKRUPTCY AUCTION

by Alexander Auctions & Real Estate Sales

When

Nov 29, 2017 - Central

Where

BLANKENSHIP - CASE NO. 16-10840
MULTI-PARCELS
PARSONS, TN 38230

How

Live Auction

Notes

LIVE AUCTION - HELD OFF-SITE

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Conducted By

Alexander Auctions & Real Estate Sales

239 University
P.O. Box 129
Martin, TN 38237


Office: 731-587-4244 or 1-800-748-8567
Fax: 731-587-2698
cell: 731-225-7368

http://www.alexanderauctions.com

Ending Time

Nov 29, 2017 10:00 AM

Auction Listing


GENERAL TERMS & CONDITIONS
BLANKENSHIP FARMS, LP
MARIANNA WILLIAMS, CHAPTER 7 BANKRUPTCY TRUSTEE, CASE NO. 16-10840
WEDNESDAY, NOVEMBER 29TH, 2017 - 10:00 A.M.
AUCTION HELD AT DECATUR COUNTY FAIRGROUNDS
1925 US-641, PARSONS, TN 38363

1. ALEXANDER AUCTIONS & REAL ESTATE SALES HAS BEEN COMMISSIONED BY MARIANNA WILLIAMS, TRUSTEE TO SELL THIS PROPERTY AT PUBLIC AUCTION.

2. REAL ESTATE CONSISTS OF 12 FARMS, 3 HOUSES, 2 TENNESSEE RIVER LOTS LOCATED IN THE CIVIL DISTRICT OF DECATUR & HENDERSON COUNTIES, TN.

3. PROPERTY OFFERED IN INDIVIDUAL FARMS, TRACTS, & COMBINATIONS.

4. TAX MAP AND TAX PARCELS IN DECATUR & HENDERSON COUNTIES, TENNESSEE TAX ASSESSOR’S OFFICE ARE LISTED IN EXHIBIT NO. “1”.

5. SOME TRACTS HAVE SURVEY DESCRIPTIONS & OTHER TRACTS HAVE METES & BOUNDS DESCRIPTIONS.

6. IN THE EVENT ANY TRACTS IN A CERTAIN FARM SELL SEPARATE AND DO NOT HAVE A SURVEYED DESCRIPTION FOR HOW THEY ARE DIVIDED, AN ACTUAL SURVEY OF THE DIVISIONAL LINE WILL BE RUN BY A SURVEYOR TO CALCULATE THE ACTUAL ACREAGE.

7. THE ACTUAL SALES PRICE OF ANY TRACTS WHICH REQUIRE A SURVEY WILL BE ADJUSTED UP OR DOWN PROVIDED THE ACTUAL SURVEY SHOWS A VARIANCE IN THE NUMBER OF ACRES. THE SALES PRICE ADJUSTMENT WILL BE CALCULATED ON A PER ACRE BASIS ACCORDING TO THE SALES PRICE PER ACRE SHOWN IN THE PURCHASE AGREEMENT, EXCEPT TRACTS WHICH CONTAIN A RESIDENCE. SEE SPECIFIC TERMS.

8. ANY SURVEY COST WILL BE PAID ½ BY SELLER AND ½ BY PURCHASER.

9. DEED CONVEYANCE WILL BE A TRUSTEE’S DEED.

10. TERMS: 15% DOWN DAY OF AUCTION WITH A MINIMUM OF $500.00 ON ANY TRACT, PAYABLE IN CASH, CASHIER’S CHECK, OR PERSONAL CHECK WITH CURRENT BANK LETTER OF GUARANTY MADE TO ALEXANDER AUCTIONS & REAL ESTATE SALES REQUIRED BY ALL PERSONS NOT PERSONALLY KNOWN BY AUCTION COMPANY.

11. CLOSING DATE TO BE ON OR BEFORE DECEMBER 29TH, 2017.

12. PURCHASERS SHOULD CONTACT THEIR ATTORNEY TO COMPLETE THEIR TITLE OPINION IMMEDIATELY FOLLOWING THE AUCTION. PURCHASE AGREEMENT DOES NOT PROVIDE FOR AN EXTENSION DUE TO AN ATTORNEY FAILING TO COMPLETE TITLE WORK OR YOUR LOAN CLOSING NOT BEING SET UP IN TIME TO MEET THE THIRTY (30) DAY CLOSING PERIOD. CONTACT YOUR ATTORNEY IMMEDIATELY!

13. FAILURE TO PAY THE BALANCE DUE WILL REQUIRE PURCHASER TO FORFEIT THEIR EARNEST MONEY AND BECOME SUBJECT TO ALL TERMS IN THE PURCHASE AGREEMENT.

14. SELLER TO PAY 2017 TAXES.

15. PURCHASERS TO ASSUME THE 2018 TAXES.

16. PURCHASER TO PAY ANY ROLL BACK TAXES THAT MAY BECOME DUE.

17. A 10% BUYER’S PREMIUM WILL BE ADDED TO THE FINAL BID ON THE REAL ESTATE TO DETERMINE THE TOTAL SELLING PRICE AND CONTRACT PRICE.

18. POSSESSION OF PROPERTY WILL BE GIVEN AT CLOSING.

19. ALEXANDER AUCTIONS & REAL ESTATE SALES AND ALL AGENTS WORKING AT THIS AUCTION ARE ACTING AS AN AGENT FOR THE SELLER.

20. NO ONE SHOULD MAKE A BID THAT HE/SHE DOES NOT WANT TO HONOR OR IS NOT FINANCIALLY ABLE TO HONOR.

21. OTHER CONDITIONS: BUYER(S) MUST BE PREPARED TO MAKE A CASH OFFER. THERE ARE NO CONTINGENCIES TO THIS SALE (I.E., FINANCING, APPRAISAL, REPAIRS, OR INSPECTIONS). THEREFORE, YOU SHOULD BE PRE-QUALIFIED BY A LENDER PRIOR TO BIDDING IF YOU REQUIRE FINANCING. THIS PROPERTY IS BEING SOLD FOR CASH “AS-IS, WHERE-IS” WITH A CLOSING DEADLINE.

22. NO PURCHASE IS CONTINGENT ON FINANCING, APPRAISALS, PROPERTY INSPECTIONS OR ANY OTHER CONTINGENCIES.

23. ANY INFORMATION SUPPLIED IN THE TERMS AND CONDITIONS CONCERNING THE PROPERTY INFORMATION AND TAX AMOUNTS ARE SUPPLIED TO ACCOMMODATE THE PURCHASER(S). IT IS THE PURCHASER’S SOLE RESPONSIBILITY TO HAVE COMPLETED THEIR OWN DUE DILIGENCE SURVEY, RESEARCH, INSPECTION, CHECKING AND BID ACCORDING TO THEIR DUE DILIGENT SURVEY AND RESEARCH.

24. PROPERTY SELLS SUBJECT TO EXISTING EASEMENTS AND SUBJECT TO ANY RECORDED EASEMENTS.

25. PROPERTY SELLS SUBJECT TO ANY CITY, COUNTY, OR STATE ZONING RESTRICTIONS THAT EXIST.

26. THE OWNERS, SELLERS AND SALES MANAGEMENT HAVE NOT HAD OR REQUESTED ANY PERK TEST OR SOIL CLASSIFICATION INSPECTIONS TO BE RUN BY THE HEALTH DEPARTMENT TO DETERMINE THE APPROVAL OR REQUIREMENTS FOR SEPTIC TANKS OR SEPTIC LINES FOR ANY OF THE TRACTS.

27. PURCHASER(S) SHALL CONTACT THE DECATUR & HENDERSON COUNTY WATER PROTECTION AGENCY AND/OR AN APPROVED SOIL SCIENTIST TO OBTAIN A SOIL ANALYSIS AND APPROVAL FOR A SEPTIC SYSTEM. ALEXANDER AUCTIONS AND THE SELLERS MAKE NO WARRANTY OR GUARANTY AS TO SOIL TYPES AND SOIL APPROVAL FOR A SEPTIC/SEWAGE SYSTEM.

28. ALEXANDER AUCTIONS & THE SELLER HAVE NO KNOWLEDGE ABOUT THE EXISTENCE OR NON EXISTENCE OF A SEPTIC SYSTEM ON ANY TRACT INCLUDING THE HOUSE TRACTS.


29. AUCTIONEER & BROKER IS NOT AN EXPERT IN DETERMINING ENVIRONMENTAL HAZARDS AND HAZARDOUS MATERIAL. PURCHASER ACCEPTS THIS PROPERTY IN ITS PRESENT CONDITION AND AGREES TO HOLD HARMLESS THE BROKER, HIS AGENTS AND ALEXANDER AUCTIONS & REAL ESTATE SALES FROM ANY ENVIRONMENTAL HAZARDS AND THE COST TO DEFEND HIMSELF, HIS AGENTS OR ALEXANDER AUCTIONS & REAL ESTATE SALES FROM ANY CLAIMS.

30. PURCHASER HAS HAD THE OPPORTUNITY TO INSPECT THE PROPERTY AND WILL MAKE ALL BIDS AND PURCHASE SAID PROPERTY AS A RESULT OF THEIR INSPECTION.

31. PROPERTY AND IMPROVEMENTS ARE BEING SOLD IN THEIR PRESENT CONDITION “AS IS”. NO IMPROVEMENTS WILL BE MADE. THERE ARE NO WARRANTIES OR GUARANTEES EXPRESSED OR IMPLIED AS TO CONDITION OR FITNESS FOR USE. THE WARRANTIES OF HABITABILITY AND FITNESS FOR A PARTICULAR PURPOSE AND PARTICULAR USE ARE EXPRESSLY EXCLUDED.

32. THE PURCHASER DOES HEREBY ACKNOWLEDGE THAT THE SUBJECT PROPERTY IS PURCHASED AT PUBLIC AUCTION, AND THAT A PREREQUISITE TO BIDDING IS THAT ALL PROPERTY, WHETHER REAL ESTATE OR PERSONAL, IS PURCHASED ABSOLUTELY “AS IS” WITH NO WARRANTY WHATSOEVER AS TO THE CONDITION OF THE SAME.

33. ALL TIE BIDS WILL BE SETTLED FROM THE AUCTION STAND BY THE AUCTIONEER AND HIS DECISION WILL BE FINAL. THE AUCTIONEER WILL HAVE THE RIGHT TO RE-OPEN THE BID BETWEEN ALL BIDDERS.

34. AUCTIONEER AND SALES MANAGEMENT RESERVE THE RIGHT TO EXECUTE ANY ABSENTEE OR OTHER BIDS THAT ARE TURNED IN TO THEM BEFORE THE AUCTION, ONLINE, AND BY PHONE DURING THE AUCTION.

35. ALEXANDER AUCTIONS & REAL ESTATE SALES WILL NOT BE RESPONSIBLE FOR ANY MISSED BIDS OR UNEXECUTED BIDS FROM ANY SOURCE.

36. ALL INFORMATION USED IN THE ADVERTISING AND PROMOTION OF THIS AUCTION HAS BEEN OBTAINED FROM PUBLIC RECORDS AND OTHER SOURCES DEEMED TO BE RELIABLE AND ARE BELIEVED TO BE TRUE AND CORRECT. NO WARRANTIES ARE MADE TO THIS EFFECT.

37. PROPERTY IS BEING SOLD SUBJECT TO THESE TERMS AND ANY OTHER TERMS ANNOUNCED AT THE AUCTION. THESE TERMS WILL BE INCORPORATED INTO THE PURCHASE AGREEMENT FOR FUTURE REFERENCE.


WE APPRECIATE YOUR INTEREST IN THIS AUCTION AND WE WILL BE GLAD TO ANSWER ANY QUESTIONS YOU MAY HAVE.
Alexander
AUCTIONS & REAL ESTATE SALES
MARVIN E. ALEXANDER CAI, Auctioneer TL9, FL 107
239 University Street * P.O. Box 129, MARTIN TN 38237 * (731) 587-4244
Email: alexanderauctions@frontiernet.net
WEBSITE: www.alexanderauctions.com

PARSON, DARDEN, LEXINGTON FARMS
READ INDIVIDUAL FARMS FOR DIRECTIONS
Auction held at the Decatur County Fairgrounds Pavilion at 1925 U. s. 641, Parson, TN 38363 - 5 Miles south of Parsons