Name City of Knoxville Surplus Real Estate Auction
Auctioneer Powell Auction & Realty, LLC
Type Online-Only Auction
Date(s) 12/18/2017 - 1/12/2018
BIDDING ENDS: Friday, January 12th at 12:00PM
Preview Date/Time Please view the properties at your leisure.
Checkout Date/Time Please review the terms & conditions of the sale.
Location 6729 Pleasant Ridge Road
Knoxville, TN 37921
Buyer Premium 5% Buyer's Premium
Description
City of Knoxville Surplus Real Estate Auction ONLINE BIDDING ONLY City of Knoxville Surplus Real Estate obtained from the City of Knoxville Tax Sales 26 Properties to be Sold BIDDING BEGINS: Monday, December 18th at 9:00AM BIDDING ENDS: Friday, January 12th at 12:00PM
TERMS: The successful high bidder on this property will be required to sign the Real Estate Purchase Agreement immediately upon conclusion of the bidding and will make an earnest money deposit of 10% of the bid or $1,000.00, whichever is greater. A 5% buyer's premium will be added to the high bid to establish the total sales contract price. The balance is to be paid in full at closing. The contract will not be contingent upon financing. If property is residential and applicable, the Buyer will sign a Lead-Based Paint Inspection Waiver as part of the sales contract and the sale will be exempt from the Tennessee Residential Property Disclosure. SALE IS SUBJECT TO APPROVAL BY THE CITY COUNCIL OF KNOXVILLE. In no event shall the City of Knoxville or Powell Auction & Realty, LLC be liable for any indirect, incidental, consequential, special or exemplary damages or lost profits, even if Knoxville City has been advised of the possibility of such damages. REAL ESTATE TAXES START AT CLOSING FOR BUYER. Quit Claim Deed closing will take place within 30-60 days from the City Council approval. Buyer will be advised as to the day and location of closing. The City of Knoxville Law Department will be conducting the closings. Seller to furnish a QUIT CLAIM DEED only. Buyer is responsible for the cost of recording the deed. BUYER UNDERSTANDS AND ACKNOWLEDGES THAT THE PROPERTIES WERE ACQUIRED BY THE CITY OF KNOXVILLE FROM A TAX SALE AND TITLE INSURANCE WILL NOT BE AVAILABLE. ONLINE REAL ESTATE TERMS: Thank you for participating in a Powell Auction & Realty, LLC Online Auction. It is important that you familiarize yourself with the Terms and Conditions of the Sale. If you do not agree with any of the terms and conditions stated, PLEASE DO NOT BID or you will be bound by those Terms and Conditions. Good luck and good bidding. Auctioneer/Employees without notice may withdraw, extend or rearrange any property, and or item at their sole discretion at any time and will not be liable for any computer, internet or website malfunctions. Payment must be made within 24 Hours after being contacted by Powell Auction & Realty, LLC. Powell Auction & Realty, LLC will have up to 7 DAYS to provide the Buyer with any documents to be signed after the auction has ended. All properties are sold "AS IS, WHERE IS and WITH ALL FAULTS" with no financing, inspection or other contingencies to sale. Auctioneer represents the seller only and does not inspect properties on Bidder's behalf.
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 9,999,999.99 100.00 USD
Currency USD
Buyer Premium 5% Buyer's Premium
Payment Terms
10% deposit or 1000.00 which ever is greater,Payment must be made within 24 Hours after being contacted by Powell Auction & Realty, LLC. Powell Auction & Realty, LLC will have up to 7 DAYS to provide the Buyer with any documents to be signed after the auction has ended.