ALL ONLINE BIDS ON THIS AUCTION START THURSDAY, JUNE 8TH AT 9:00 AM EDT AND WILL BEGIN ENDING ON MONDAY JUNE 12TH AT 8:00 PM EDT.
AUCTION END TIMES: TODD THOMPSON AUCTIONS llc.
Online Auctions are timed events and all bidding will close at a specified time. Todd Thompson Auctions llc. Online Auctions also have an auto extend feature. Any bid placed in the final 5 minutes of an auction, the auction ending will be automatically extended 5 minutes from the time the bid was placed. Example: if an auction scheduled to close at 9:00 receives a bid at 8:59, the close time will automatically extend 9:04 PM. The auto extend feature remains active until no further bids are received within a 5 minute time frame. Todd Thompson Auctions llc. reserves the right to adjust the auto extension time period. THE FINAL SALE OF PROPERTIES USING INTERNET BIDS/MAX BIDS WILL DETERMINE THE WINNING BIDDERS OF PROPERTIES AS ADVERTISED. INTERNET BIDDING INCREMENTS =
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.
BID PACKAGE: Auction Sales Contract & Promissory Note Package, along with any other paperwork pertaining to each sale #, will be sent by e-mail from Todd Thompson Auctions llc to the successful bidder, who must execute and fax or email back to Todd Thompson Auctions llc within 24 hours of receipt. Successful bidders not executing and returning their contract & promissory note with earnest money deposit (10% non refundable deposit of total purchase price (certified funds or wire) made payable to Todd Thompson Auction llc 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.
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 Todd Thompson Auctions llc 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.
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.toddthompsonauctions.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!
Buyer’s Premium: A 10% buyer’s premium will be added to the bid price on all properties to determine the final contract price.
Todd Thompson Auctions llc has the sole authority to resolve any bidding disputes as they may arise.
Todd Thompson Auctions llc 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 Todd Thompson Auctions llc or anyone else if the internet service fails to work correctly before or during the ending of the auction. Todd Thompson Auctions llc will not be responsible for any missed bids from any source.
Taxes for the 2017 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 May 1st, 2017. 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.
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.
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 Tennessee Land Title will be the exclusive closing agent for all transactions.
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.