Absolute Auction 2 Douglas Lakefront Tracts, 15 Prime Homesites

When

May 25, 2013 Saturday, May 25th, 2013 10:30 AM

Where

116 SW Tom Patterson Trl Dandridge, TN 37725

How

Online Only

Notes

Lot 14B Rainwater Cove (Island) sold for $44,000 Lot 14C Rainwater Cove (Point) sold for $11,000 Lots 1, 2, 3, 14, 15, 17, 18, 19, 21, 22, 23, 24, 31, 32, and 33 of Wells Spring Estates all sold individually for a total of $156,750<br>
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GREAT OWNER TERMS, No Qualifying on Wells Spring Est &amp;Lakefront Tracts 15% down, 3 yrs fixed @ 3% interest or 4 yrs fixed @ 4%interest, or 5 yrs fixed @ 5% interest, amortized over 20 yrs. No prepayment penalties or buyer maypay cash at closing.<br>
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OPEN HOUSE: FRIDAY, MAY 24TH 4:00 PM TIL DARK&amp; SATURDAY BEFORE SALE<br>
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Online Bidding Terms:<br>
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ALL ONLINE PREBIDS ON THIS MAY 25TH AUCTION START FRIDAY, MAY 17TH, AT 10:30 AM EST AND WILL END ON MAY 24TH AT 5:00 PM EST. BY PLACING INTERNET BIDS ONLINE PRIOR TO LIVE EVENT, YOU AUTHORIZE McCarter Auction Inc OR ITS AFFILIATES TO IMPLEMENT YOUR BIDS AT THE LIVE AUCTION.<br>
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THE FINAL SALE OF PROPERTIES USING INTERNET BIDS/MAX BIDS AND LIVE ONSITE BIDS WILL DETERMINE THE WINNING BIDDERS OF PROPERTIES AS ADVERTISED.<br>
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INTERNET BIDDING INCREMENTS = $500<br>
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Auction Sales Contract &amp; Promissory Note Package: Auction Sales Contract &amp; Promissory Note Package 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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When you bid your max, the current bid price does not automatically go to your max bid. Someone else online or at live auction has to bid to increase the current price and bid up to your max in the increments specified.<br>
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EXTENDED BIDDING<br>
This auction features EXTENDED BIDDING! Any lot that gets a bid within TEN minutes of its Scheduled Closing Time will remain open for bids past its normal close; it will go into extended bidding. It will remain open until there are no bids on that lot for TEN minutes. This only affects lots with bids in the last ten minutes; other lots will continue to close at their normal times. If you have questions please call us 1-877-282-8467

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