Terms: Real Estate: 10% buyer's premium added to final bid price. Property sold AS-IS. 10% deposit required within 24 hours of sale's conclusion. Successful bidder not executing and returning the contract with earnest money deposit within 24 hours of the conclusion of the auction will be considered in default. In the event a winning bidder fails to submit the signed Contract for Sale of Real Estate and earnest money deposit, the winning bidder will be charged a penalty fee of $3,000.00 on the credit card provided at auction registration. Closing in 30 days or less. Homes built prior to 1978 may contain lead-based paint. There is extended bidding on the real estate. For instance, if home gets a bid at 1:59PM day of closing, the new closing time will be 2:04pm. Bidding will extend 5 minutes if there is a bid within the last 5 minutes of the auction. Once all bidding is exhausted and no more bids are received, then the time will tick down and the auction will close. This closely mimics a live sale. If you don't understand the terms of the auction, call us at 865-681-7797 and we can explain them to you. If you don't agree with the terms or don't trust the system, THEN DON'T BID! It's that simple. Items not picked up from the auction and remain at the residence at closing become possession of the new home owner. Thank you, and Happy Bidding!!
Personal Property: 15% Buyer's Premium added to each successful bid. everything sold AS-IS. No refunds, no exceptions. NO CHECKS ACCEPTED UNLESS YOU ARE KNOWN BY US, and only from a local bank. You will need to let us know in advance if you are planning on paying by check. Cash is always accepted, but buyer must let us know before the end of the auction if paying with cash. Payment must be made by credit card on file that was used to register for the auction. Payment must be made in full BEFORE items are removed from premises. There is an auto extend feature on this auction. Bidding will extend 5 minutes if there is a bid within the last 5 minutes of the auction. Once all bidding is exhausted and no more bids are received, then the time will tick down and the auction will close. This closely mimics a live sale. There is also a staggered closing on personal property items. The first items start closing at 6:00PM, and the remaining items will have a staggered close time throughout the evening beyond the 6:00PM closing time listed. Contact us if you have questions about this. If you don't understand the terms of the auction, call us at 865-681-7797 and we can explain them to you. If you don't agree with the terms or don't trust the system, THEN DON'T BID! It's that simple. Items not picked up from the auction and remain at the residence at closing become possession and responsibility of the new home owner. Thank you, and Happy Bidding!!
TN Auction license 4498.
