Knox County Surplus Online Real Estate Auction. Knox County has ordered the sale of 40 properties. ONLINE BIDDING ONLY. Pre-bidding ENDS Monday, March 26th at 12:00PM (noon). All bidding starts at $50. IF you are the high ONLINE bidder, then you will receive an Email. Auction IS SUBJECT to REBID per T.C.A. 67-5-2507. Pursuant to Resolution R-07-1-903 passed by the Commission of Knox County, Tennessee, bidders hereby acknowledge by submission of their bid or proposal that they are current in their respective Federal, State, County and City taxes of whatever kind or nature and are not delinquent in any way. Bidders delinquent on any taxes, or who have been delinquent within the past 5 years, of whatever kind are not eligible and risk debarment from future sales. In no event shall Knox County or Powell Auction & Realty LLC, be liable for any indirect, incidental, consequential, special or exemplary damages or lost profits, even if Knox County has been advised of the possibility of such damages.
REBID AUCTION: April 25th at 10:00AM, LIVE AUCTION, held at 6729 Pleasant Ridge Road Knoxville, TN 37921.
REBIDS: All properties were acquired by Knox County as part of the Knox County Trustee's Tax Sale and are subject to rebid per T.C.A 67-5-2507. Results of the ONLINE auction will be published in a newspaper of general circulation within five (5) business days of the end of the ONLINE auction. Bidders will then have ten (10) business days from the publication of the notice to increase the final ONLINE bid price by ten percent (10%) or more. All rebids must be submitted in Writing, to the Knox County Procurement, ATTN: Ben Sharbel, 1000 North Central Street, Knoxville, Tennessee 37917. The high ONLINE bidder will be contacted IF their bid gets raised. IF there is no rebid on a property, the ONLINE auction result is final.
IF you remain the High ONLINE bidder, then the buyer will need to sign a Real Estate Sales Contract, Terms & Conditions & any other documents needed, WITHIN 24 hours of REBID Auction and pay a Deposit of 10% or $1,000.00 whichever is greater, per Property. US currency Cash OR Approved Check. 5% buyer's premium added to final price to establish total contact sales price.
IF a property IS rebid, then all bidders will be notified of a Final, LIVE auction to be held at Powell Auction & Realty LLC 6729 Pleasant Ridge Road Knoxville, TN 37921. Bidding at the Final LIVE auction will begin at the highest rebid price.
Buyers to sign a Real Estate Sales Contract, Terms & Conditions and any other documents needed, immediately upon conclusion of the bidding and pay a Deposit of 10% or $1,000.00 whichever is greater, per Property. US currency Cash OR Approved Check. 5% buyers premium to be added to final price to establish total contract sales price.
Knox County Law Department will conduct the closings. The balance is to be paid in full at the closing within 60 days, AFTER Knox County Commission Approval. Property will be transferred with a Quit Claim Deed. The buyer is responsible for recording the deed.
PLEASE note that these properties were obtained via the Knox County Trustee's Tax Sale and may NOT qualify for TITLE INSURANCE. Sellers OR Sellers Agent make NO Warranties on these properties or that Title Insurance can be obtained and the buyer is advised to seek legal council.
Real Estate Property Taxes will start at Closing for the buyer.
The contract will not be contingent upon financing, inspections or any other contingencies.
Powell Auction & Realty LLC and its auctioneer(s) and employee(s) are representing the seller(s) as the sellers Agent(s).
TENANTS: The buyer understands and acknowledges that IF properties are occupied by tenants / previous owner: The purchaser IS buying the property with the tenants / previous owner in possession. AND buys the property subject to the rights of tenants/ previous owner in possession and all applicable rules and regulations relating thereto, and Seller and Auctioneer make no representations or warranties regarding the same.
All properties are sold “AS IS, WHERE IS and WITH ALL FAULTS”, without any warranties expressed, implied or guarantees of any kind. Agent represents the seller only and does not inspect properties on bidder's behalf. All measurements, square footage & age are approximate and not guaranteed. Seller and or Agent makes no warranty as to accuracy of information. All information is deemed reliable, but not guaranteed, buyer to verify ALL information, to their satisfaction before bidding IF Applicable, Tennessee Residential Property Exemption and Lead-Based Paint Disclosure Waiver will be a part of the sales contract. Lead-Based Paint inspection starts March 5, 2018.
ONLINE AUCTION TERMS: Thank you for participating in this Powell Auction & Realty LLC Online Auction. It is important that you familiarize yourself with these terms & conditions of Sale. If you do not agree with any of the terms and conditions stated, DO NOT BID. You will be bound by these terms and conditions. Good luck and good bidding.
Agent/Auctioneer may withdraw, extend, or rearrange any property and or item(s) at their sole discretion at any time, without notice and will not be liable for any computer, internet or website malfunctions. Bidding may extend, if bids are placed within the last minute, to prevent bid snipping. 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. Payment must be made within 48 Hrs after being contacted by Powell Auction & Realty LLC.
All properties are sold “AS IS, WHERE IS and WITH ALL FAULTS”, without any warranties expressed, implied or guarantees of any kind. Agent represents the seller only and does not inspect properties on bidder's behalf. All information is deemed reliable, but not guaranteed, buyer to verify ALL information, to their satisfaction before bidding.