All Bidders registering for this auction live onsite or online will have to be approved by EK Auctioneers, LLC (hereinafter referred to as Auction Company or EK Auctioneers) before any bids can be placed to prevent an unqualified Bidder from placing bids (example: an underage person or a person with a fraudulent bidding account). If Bidder is known to Auction Company they will be approved quickly after registration. If Bidder isn’t known to Auction Company, a phone call with Auction Company staff or possibly a refundable deposit may be required before placing online bids. Auction Company prefers any unknown Bidders to view the property in person before placing any bids.
YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, and are capable of paying cash at closing.
Earnest money deposit & contract signing: The winning Bidder will be required to sign purchase agreement contract at end of auction and is required to pay a non refundable deposit of $20,000.00 per purchase agreement. Deposit must be in the form of cash or cashier check. Personal and business check accepted if you are known by auction company. Balance must be paid at closing, within 30 days of the close of bidding.
Closing to take place at Reliance Title 214 Railroad Street Sweetwater TN 37874
This property will be sold in “AS IS, WHERE IS” condition without any representation or warranty of any kind, whether express or implied. The Purchaser shall have satisfied themselves 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 derived from courthouse and other records and are believed to be correct; however, neither the Seller nor the Auction Company makes any guarantee or warranty as to the accuracy or completeness of such information.
This property sells without contingencies. Any inspections or financing needed by the Purchaser must be made or arranged before the close of bidding at the Purchaser’s expense. The sale of this property will not be subject to contingencies for inspections, financing or appraisals needed by the Purchaser.
EK Auctioneers,LLC and its auctioneers and agents are representing the sellers as the sellers' agents.
Buyer’s premium: There will be a ten percent (10%) Buyer’s Premium added to the winning bid price to arrive at the total contract sale price to be paid by the Purchaser. Example: If you bid $100,000.00, the total sale price at closing will be $110,000.00 plus applicable closing costs.
The Auction Company reserves the right to cancel, suspend, extend or reschedule an auction event or to make changes to the auction in the event of any unforeseen technical, legal problems or act of GOD
Possession & closing: Purchaser will receive possession at closing. The sale shall be closed on or before Dec. 7 4pm (or sooner if possible) of the close of bidding in the amount of the purchase price, and shall execute a Warranty Deed conveying the real estate to the Purchaser.
Closing, Seller shall pay for its escrow and closing fees, and all of the costs for preparation of all documents to convey a marketable and insurable deed of the property. At closing, Purchaser shall pay for its escrow and closing fees, any and all recording fees, and all other sale, financing or closing fees as required. Taxes, assessments and association fees, if any, shall be prorated to the date of closing.
Miscellaneous: All decisions of the Auction Company 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. Auction Company reserves the right to deny any person the right to participate in the auction for any reason, or to ban anyone from the auction who attempts to disrupt it. Auction Company has the right to bid on behalf of the seller. All auctions are sold with buyer confirmation unless stated.
AGENCY: EK Auctioneers,LLC Edward Knight - Broker, 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.
Age requirement: All bidders must be 18 years of age or older.
Server & software technical issues: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, EK Auctioneers, LLC reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor EK Auctioneers, LLC shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Email notifications will be sent to registered bidders with updated information as deemed necessary by