Payment: The Purchaser shall pay an amount equal to 15% of the total contract sales price to the Closing Attorney by 4:00 PM CT on September 8, 2017. The Closing Attorney shall accept the following forms of payment: wire transfer or cashier's check. There may be a fee associated with payment of the deposit or purchase money by wire transfer. Contact the Closing Attorney if you intend to pay this way.
A $0.00 credit card authorization will be processed when submitting your first bid at this auction. The $0.00 is simply a pending hold on your card and is held by the credit card company for varying lengths but typically 24-72 hours. This $0.00 authorization is not actually charged to your card and if you are the winning bidder that payment will be a separate transaction. If you do not win any bids there will be no charges against your account.
Buyer's Premium: There is a 10% Buyer's Premium in effect for this auction.
UNRESERVED AUCTION. The Property shall be sold to the highest bidder regardless of price at unreserved public auction. The sale shall not be subject to any minimum bid or reserve price.
A ten percent (10%) buyer's premium will be added to the high bid price to determine the total contract sales price for the property.
Beginning at the stated closing time, the auction software will conclude bidding with the following exception: if a bid is placed in the last five (5) minutes remaining, bidding for that lot will remain open for an additional five (5) minutes.
Agreement of Purchase and Sale:
The Purchaser shall execute an agreement of purchase and sale, in the form provided by the auctioneer, without modification, immediately after being declared the high bidder.
This is a cash sale and is not contingent on Purchaser's ability to obtain financing.
The Purchaser shall pay an amount equal to 15% of the total contract sales price to the Closing Attorney by 4:00 PM CT on September 8, 2017. The Closing Attorney shall accept the following forms of payment: wire transfer or cashier's check. There may be a fee associated with payment of the deposit or purchase money by wire transfer. Contact the Closing Attorney if you intend to pay this way.
The purchase monies in respect of the property shall be paid to and deposited with Attorney's Title Company, Inc., Jeff Benz, contact. (615) 385-5502. 2927 Berry Hill Dr., Nashville, TN 37204.
Seller shall provide a receiver's deed.
Evidence of Title:
The Seller agrees to furnish bidders a preliminary title commitment to review before the auction ending. Seller agrees to provide merchantable title to the Property subject to matters of record, general conditions of title and similar or related matters. All tracts sold "AS-IS".
Closing will be within 30 days after auction. The Closing Attorney will schedule and conduct closing.
Purchaser may obtain an owner's title insurance policy in the amount of the purchase price from the Closing Attorney at the Purchaser's cost.
Real Estate Taxes:
Real estate taxes and assessments shall be pro-rated to the date of Closing.
Other Closing Costs:
The Purchaser shall pay a closing fee to the Closing Attorney. In addition, the Purchaser shall pay for any and all recording fees, transfer taxes, courier fees and all other sale, financing or closing fees as required. Please refer to the Estimated Buyer's Closing Costs document for a breakdown of estimated costs.
Purchaser will receive possession at closing, subject to the rights of parties in possession and existing leases, if any. NO ASSIGNMENT. The Purchaser shall not assign his bid or obligation to purchase the Property to a third party without the prior written approval of the Auctioneer.
The Purchaser shall accept the property in an as-is condition with all faults as of the closing date and the purchaser shall specifically agree that the Seller has not and does not make any representations or warranties of any kind whatsoever, expressed or implied, to the purchaser regarding the property or any improvements thereon. The property is selling subject to anything an accurate survey or personal inspection of the property may reveal, including any existing rights-of-way, easements or claims to easements, encroachments, rights or claims of parties in possession, restrictive covenants and easements, flood zones, zoning or subdivision regulations, building codes, governmental agencies regulations, environmental conditions, lead-based paint, asbestos, radon gas, hazardous materials, any mineral rights, water rights, riparian or littoral rights, and reservations or conveyances, if any. The purchaser shall have satisfied himself as to the location and condition of the property, and all descriptions thereof, before bidding. All information contained in the brochure and all promotional materials, including, but not limited to, square footages, acreage, dimensions, maps, taxes, etc., was provided by the Seller and is believed to be correct; however, neither the Seller nor the Auctioneer makes any guarantee or warranty as to the accuracy or completeness of such information. All dimensions and descriptions are approximations only based on the best information available and are subject to possible variation. Bidders should inspect the property and also review all of the pertinent documents and information available at Massa Estate Group as each bidder is responsible for evaluating the property and shall not rely upon the Seller, Broker, or Auctioneer. The Seller, Broker, Auctioneer, or their agents assume no liability for errors or omissions. The properties herein are being sold subject to federal, state and county laws, ordinances and regulations which may affect the property and its use, including all conditions, restrictions and limitations and other matters of record. "The property is being sold as-is and without any warranties or representations, expressed or implied." No claim will be considered for allowance, adjustment or rescission based upon failure of the property to correspond to any particular standard or exception.
ENVIRONMENTAL DISCLAIMER: Seller, Brokers and Auctioneer do not warrantor covenant with Buyer with respect to the existence or nonexistence of any pollutants, contaminants, or hazardous waste prohibited by federal, state or local law or claims based thereon arising out of the actual or threatened discharge, release, disposal, seepage, migration or escape of such substances at, from or into the demised premises. Buyer is to rely upon his/her own environmental audit or examination of the premises.
No personal property shall be conveyed in this real estate auction.
No New Survey:
The Property will be transferred according to the existing legal description.
Massa Estate Group, Ethan Massa, and its representatives are exclusive agents of the Seller and are agents of no other party to this transaction.
All decisions of the Auctioneer are final as to the methods of bidding, disputes among bidders, increments of bidding and any other matters that may arise before, during, or after the auction. Seller reserves the right to deny any person the right to participate in the auction or to ban anyone from the auction who attempts to disrupt it.
Equal Opportunity Clause:
All bidding is open to the public. The property is available to qualified purchasers without regard to a prospective purchaser's race, color, religion, sex, familial status, national origin, or physical handicap.
Debt Collection and Interest Charge:
The bidder agrees to pay all reasonable attorney fees and other costs incurred by Massa Estate Group in its efforts to collect unpaid funds from the bidder. The bidder agrees that a fee of 2% of the outstanding balance per month be added to any unpaid balance due Massa Estate Group. Any debt collection or dispute proceedings will be heard in Davidson County, Tennessee.
By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees payment of any bid amount not paid when due by the business entity or corporation, for any reason, together with all collection expenses incurred to enforce collection, including a reasonable attorney's fee.
All bidders must be 18 years of age or older.
Bidder Information and Security:
All registration information the bidder provides to Massa Estate Group shall be current, complete, and accurate. All bidders are responsible for any bids placed under their bidding numbers and passwords. The security of bidder information is the responsibility of the bidder. Bidders must notify Massa Estate Group if they believe that their bidder number and password have been compromised.
FOREIGN OWNERSHIP RESTRICTIONS. The Property may be subject to foreign ownership restrictions. Bidder acknowledges that it is Bidder's sole responsibility to make any necessary enquiries, including without limitation consulting with legal advisors, prior to bidding to ensure they are legally eligible to purchase the Property.
Robert Waldschmidt, Receiver