11/10/15 ONLINE ONLY BIDDING FALL BALLROOM AUCTION STATEMENT OF SALE &amp; ONLINE TERMS<br>
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The sale of Sales 1-4 and 6-9 NOVEMBER 2015 AUCTION LOCATED IN SEVIER &amp; KNOX COUNTIES, TN will be sold as follows:<br>
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10% BUYERS PREMIUM WILL BE ADDED TO EACH SUCCESSFUL BID<br>
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All newspaper or other publications and all oral and verbal statements as to advertising made by owners of said property and by McCarter Auction, Inc., or any agent of said company, or by Scott E. McCarter, are hereby revoked.<br>
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This is an Absolute Auction - All Sales are Final. Each Sale # has its own announcements. Please pay very close attention as this will cover the terms and conditions for that property. The highest bid plus a 10% Buyers Premium will be the total sales price. All successful bidders will be required to sign a note for the deposit amount, in addition to deposit paid day of sale VIA CASH, GOOD CHECK, WIRE TRANSFER, OR CREDIT CARD. CREDIT CARD PAYMENT ONLY UP TO $1,000 AND ANY BALANCE ABOVE $1,000 TO BE PAID VIA CASH, GOOD CHECK OR WIRE TRANSFER. Note shall become null and void when buyer shall complete all requirements for closing as set out in their contract.<br>
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ALL ONLINE BIDS ON THIS AUCTION START WEDNESDAY, NOVEMBER 4TH, AT 10:30 AM EST AND WILL BEGIN ENDING ON TUESDAY NOVEMBER 10TH AT 2:00 PM EST. <br>
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AUCTION END TIMES: McCarter Auction, Inc. Online Auctions are timed events and all bidding will close at specified time. McCarter Auction, Inc. Online Auctions also have an auto extend feature. Any bid placed in the final 10 minutes of an auction, the auction ending will be automatically extended 10 minutes from the time the bid was placed. Example: if an auction scheduled to close at 2:00 receives a bid at 1:59, the close time will automatically extend 2:09. The auto extend feature remains active until no further bids are received within a 10 minute time frame. ALL PROPERTIES IN THIS SALE EXTEND IF ANY ONE OF THEM IS EXTENDED. McCarter Auction, Inc. reserves the right to adjust the auto extension time period.<br>
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THE FINAL SALE OF PROPERTIES USING INTERNET BIDS/MAX BIDS WILL DETERMINE THE WINNING BIDDERS OF PROPERTIES AS ADVERTISED.<br>
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INTERNET BIDDING INCREMENTS =<br>
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$0 TO $2,500.00 --- 50.00<br>
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$2,500.01 TO $10,000.00 --- 100.00<br>
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$10,000.01 TO $25,000.00 --- $250.00<br>
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$25,000.01 TO $50,000.00 --- $500.00<br>
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$50,000.01 TO $250,000.00 --- $1,000.00<br>
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$250,000.01 TO $500,000.00 -- $5,000.00<br>
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$500,000.01 AND UP --- $10,000.00<br>
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This online only auction is a CASH SALE not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by bidders at registration prior to bidding and specified in the attached Auction Sales Contract.<br>
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BID PACKAGE: Auction Sales Contract &amp; Promissory Note Package, along with any other paperwork pertaining to each sale #, will be sent by e-mail from McCarter Auction Inc to the successful bidder, who must execute and fax or email back to McCarter Auction Inc within 24 hours of receipt. Successful bidders not executing and returning their contract &amp; promissory note with earnest money deposit (10% non refundable deposit of total purchase price (certified funds or wire) made payable to McCarter Auction Inc) within 24 hours of receipt will be considered in default and subject to an Administrative Fee (as defined below). All Administrative Fees are non-refundable. The entirety of the remaining balance is due at closing. Purchaser shall be responsible for all wire transfer fees and closing fees as set out in Auction Sales Contract and Auction Statement of Sale.<br>
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Auction Administrative Fee: In the event a winning bidder fails to submit the signed “Auction Sales Contract,” signed “Promissory Note,” and deposit earnest money as provided in the pre-stipulated Auction Terms, the winning bidder will be charged an administrative fee of $2,500.00 on the credit card provided at auction registration. Additional default remedies are reserved by McCarter Auction Inc and the Seller as provided in the Auction Statement of Sale, the Auction Sales Contract and the Promissory Note. All Administrative Fees are non-refundable.<br>
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AUCTION SALES CONTRACT, PROMISSORY NOTE, and STATEMENT OF SALE: Each property is offered under specific terms provided in the auction sales contract, promissory note, and statement of sale. The Auction Sales Contract, Promissory Note, Statement of Sale are available at www.mccarterauction.com in the “View Documents” section of this auction website. Please read and review the contract, promissory note, and statement of sale thoroughly prior to bidding on any property. If you have not read and reviewed the Auction Sales Contract, Promissory Note, Statement of Sale and all other materials available plus completed your own “due diligence” to satisfy all questions, please Do Not Bid!<br>
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Buyer’s Premium: A 10% buyer’s premium will be added to the bid price on all properties to determine the final contract price.<br>
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McCarter Auction Inc has the sole authority to resolve any bidding disputes as they may arise.<br>
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McCarter Auction Inc is providing internet/online bidding as a service to Bidder. Bidder acknowledges and understands that this service may or may not function correctly the ending day of the auction. Under no circumstances shall Bidder have any kind of claim against McCarter Auction Inc or anyone else if the internet service fails to work correctly before or during the ending of the auction. McCarter Auction Inc will not be responsible for any missed bids from any source. <br>
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Taxes for the 2015 year to be prorated at closing and any back taxes to be paid by seller at closing. Closing on all Real Estate will be on or before 30 days from November 10th, 2015. Possession of all properties to be given at closing, unless otherwise stated in individual property terms. All properties to be sold in “as is” condition with no guarantees or warranties expressed or implied. Please rely on your previous inspections of all properties. Copies of surveys, restrictions, zoning regulations and any other paperwork pertaining to the properties are available online.<br>
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The properties will be sold subject to zoning, easements and restrictions of record and will be sold as described from maps. The properties will be sold free from all encumbrances and a Warranty Deed will be executed by the owner to the purchaser for said land, except for Sale 6 Timeshare, which will be a Quit Claim Deed.<br>
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Terms for Real Estate are 10% down day of online bidding end, balance at closing within 30 days. Buyer to pay one-half of closing fee, in addition to their other individual closing costs. Please note that Johnson Murrell &amp; Associates will be the exclusive closing agent for all transactions. <br>
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REMEMBER, this is an Absolute Auction and all sales are final. Do not bid unless you are prepared to pay appropriate deposit and meet all conditions to close as set out in your contract. Bidders must be ready, willing and able to close within 30 days. Please do not bid unless prepared to do so.<br>
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INDIVIDUAL PROPERTY TERMS:<br>
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SALE #1 VACANT LOT ADJOINING 428 OLD DOUGLAS DAM RD AND FRONTING WINFIELD DUNN PKWY/HWY 66, SEVIERVILLE TN: All property sold in “as is” condition. Zoned C-4, City of Sevierville. Selling from map dated November 3, 2015 by Ronnie L. Sims, Registered Land Surveyor. Note 20 foot perpetual sewer easement and other notes as shown on map. Also note permanent drainage easement as shown in northwest corner of property, the following paragraph is in the deed to the State of Tennessee for this permanent easement area: “By this instrument the grantors hereby convey a permanent easement for construction and maintenance of a drainage facility. The land on which the drainage facility is to be constructed is to remain the property of the undersigned and may be used for any purpose desired, provided such use does not interfere with the use of maintenance of said facility.”<br>
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SALE #2 HOME &amp; LOT LOCATED AT 428 OLD DOUGLAS DAM RD AND FRONTS WINFIELD DUNN PKWY/HWY 66, SEVIERVILLE TN: Home, outbuildings and all property sold in “as is” condition. A lead based paint disclosure must be signed by buyer of home. Termite inspection letter provided to buyer of home. No treatment is needed. Any personal property left in home at closing remains with home. Zoned C-4, City of Sevierville. Selling from map dated October 27, 2015 by Ronnie L. Sims, Registered Land Surveyor. Note drainage pipes and any other notes as shown on map.<br>
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SALE #3 OLD HOMEPLACE 4+ AC, BARN, OUTBUILDING 109 ROGERS LN, SEVIERVILLE TN: Home, barn, outbuildings and all property sold in “as is” condition. A lead based paint disclosure must be signed by buyer of home. Termite inspection letter provided to buyer of home. Buyer responsible for any treatment recommended in termite inspection letter. Any personal property left on property at closing remains with property. Zoned C-2, Sevier County. The older white house located on the property is unlivable. Selling from map dated October 12, 2015 by Eddy R. Garrett, Registered Land Surveyor. Note 20 foot right-of-way for Rogers Lane, electric lines crossing property and any other notes as shown on map. <br>
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SALE #4 COURT ORDERED #11-01-4577 HARRELL ESTATE, LEVEL WOODED LOT w/UNLIVABLE MOBILE HOME 344 OGLE RD, SEYMOUR TN: All property sold in “as is” condition. Zoned A-1, Sevier County. Selling from map dated October 15, 2015 by Ronnie L. Sims, Registered Land Surveyor. Note right-of-way for Ogle Road and any other notes as shown on map.<br>
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SALE #5 Lot 2 of Angel Mountain Cosby TN will not sell in this auction<br>
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SALE #6 GATLINBURG TIMESHARE WEEK 33 BLUEGREEN VACATIONS MOUNTAIN LOFT: 1 time share interest FLOATING according to the time sharing plan, Units 213 &amp; 214, Week 33, during assigned year whole, for the resort facility known as Bluegreen Vacations Mountain Loft in Gatlinburg. Will be conveyed by Quit Claim Deed. All proceeds from auction to benefit St Judes Childrens Hospital. Per Seller: HOA meets in late September &amp; maintenance fees are $720 per year.<br>
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SALE #7 LOT 1 RUNAWAY HILLS PHASE II, SEVIERVILLE TN: All property sold in 'as is' condition. Zoned R-1 Sevier County TN. Selling from recorded map dated March 29, 1999 by Howard T. Dawson, Registered Land Surveyor, LM3/Page 136. No new survey. Buyer to locate markers. Private road, buyer shall be jointly responsible for the upkeep and maintenance of such road. Buyer may have to join Homeowner’s Association and abide by their rules and regulations and pay any necessary fees.<br>
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SALE #8: LOT 8A LAKELAND HILLS RESUB, SEVIER COUNTY TN: All property sold in 'as is' condition. Zoned R-1 Sevier County TN. Selling from recorded map dated August 6, 1997 by James F. Hatcher, Jr, Registered Land Surveyor. Note that the adjoining Lot 8 has a non-exclusive access easement upon Lot 8A for the driveway encroachment on front of property per Book 3987, Page 296. Note 20 foot waterline easement, TVA powerline easement and powerline crossing the northern side of property and any other notes as shown on recorded map.<br>
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SALE #9: 2 LOTS ON MAXEY STREET IN KNOXVILLE, TN: All property sold in 'as is' condition. Zoned R-1 City of Knoxville, TN. Selling from map dated November 2, 2015 by Eddy R. Garrett, Registered Land Surveyor. Note concrete drive encroachment and fence on northwest side of property Sale 9b and any other notes as shown on map.<br>
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10% BUYERS PREMIUM TO BE ADDED TO EACH SUCCESSFUL BID