ONLINE ONLY ABSOLUTE ESTATE AUCTION
2 Story Commercial Building
113 Broadway (Hwy. 11)
in Downtown Lenoir City, TN 37771
Bidding begins to end Tuesday, October 1st @ 6:00 PM
OPEN HOUSE:
Sunday, Sept. 29th 2:00 - 3:00 PM
or Call Stephenson Realty & Auction Co for appointment 865-457-2327
Estate of Jimmy & Juanita Pearman. Over 2500 sq. ft. on each of the two floors with the first floor having a half bath, lots of open space, office and lots of storage. On the top floor there is a large apartment that has 3 bedrooms, large kitchen and dining, 1 1/2 baths, wood floors, Honeywell central heat & air, utility room, bathroom with double sinks and a large partially covered deck at rear of 2nd floor that leads to the street at back of building.
AUCTIONEERS NOTE: Mr. & Mrs. Pearman bought this building in September 2000, made a lot of improvements, opened Antiques West on the first floor and they lived upstairs on the second floor. There is a separate entrance to the upstairs next to the door that opens to the first floor, giving privacy to the apartment upstairs. Would make an excellent location for lots of commercial business. Plan Now to attend one of our open houses.
TERMS: 10% down upon conclusion of the online bidding and signing of contract with closing in 30 to 40 days. Property auctioned "AS IS" with 10% buyers premium.
DIRECTIONS: From I-40 and the Lenoir City Exit, travel toward Maryville 2.6 miles on Hwy. 321. Turn right on Hwy. 11 (Broadway) and property will be .6 mile on right in the heart of Lenoir City.
NO MINIMUM - NO RESERVE - SELLS TO THE HIGHEST BIDDER
10% down upon conclusion of the online bidding and signing of contract with closing in 30 to 40 days. Property auctioned "AS IS" with 10% buyers premium.
Terms Day of Sale: A 10% Deposit within 24 hours of the end of bidding, balance at closing within 30 – 40 days.
All information was derived from sources believed to be correct but not guaranteed.
A 10% Buyers Premium is added to bid price.
Property sold “AS IS, WHERE IS” with any and all faults.
ONLINE AUCTION TERMS:
Agency Disclosure: Stephenson Realty & Auction is acting as agent for the seller, not as buyer's agent.
AUCTION END TIMES: Stephenson Realty & Auction Online Auctions are timed events and all bidding will close at specified time. Stephenson Realty & Auction 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 6:00 receives a bid at 5:59, the close time will automatically extend 6:04. The auto extend feature remains active until no further bids are received within a 5-minute time frame.
REFRESH YOUR SCREEN CONSTANTLY DURING THE CLOSING MINUTES OF THE BIDDING
SERVER & SOFTWARE TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Stephenson Realty & Auction reserves the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor STEPHENSON REALTY & AUCTION 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 the email address provided in your registration with updated information as deemed necessary by Stephenson Realty & Auction.
TERMS: 10% of the final bid price as non-refundable earnest money in the form of a certified check, cash or wire transfer within 24 hours of the close of auction, with the balance of purchase price due at closing within 30 days after court approval. Purchaser shall be responsible for all wire transfer fees and any currency exchange fees to US dollars. Closing will be as specified in the Contract for Sale of Real Estate. 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 Contract for Sale of Real Estate.
DEED: Good Insurable Deed at Closing.
BUYER’S PREMIUM: There will be a buyer’s premium of 10% added to the bid price to arrive at final purchase price. Example: Bid Price $100,000 plus $10,000 (10% buyer’s Fee) equals purchase price of $110,000.
AUCTION BIDDER DEFAULT: Successful bidder not executing and returning the contract with earnest money deposit within 24 hours of the conclusion of the auction will be considered in default. In the event a winning bidder fails to submit the signed Contract for Sale of Real Estate and earnest money deposit, the winning bidder will be charged a penalty fee of $3,000.00 on the credit card provided at auction registration. Additional default remedies are reserved by Stephenson Realty & Auction and the Seller as provided in the Auction Terms and Conditions and the Contract for Sale of Real Estate. Stephenson Realty & Auction reserves the right to sell to the second-highest bidder in the event the successful high bidder does not comply with the terms of the sale.
Any dispute between Stephenson Realty & Auction, its Agents or Representatives and the Buyer(s) will be tried in a court of jurisdiction in Anderson County, Tennessee. By bidding on the property, buyer agrees to all terms and conditions set forth.
Acceptance of Bid Prices: Successful bidder(s) will be required to enter into a purchase agreement immediately following the close of the auction. Stephenson Realty & Auction will e-mail documents to be executed and fax or e-mail back to Stephenson Realty & Auction within 24 hours of the end of the auction. Successful bidders not executing and returning contracts with earnest money deposit within 24 hours will be considered in default. Any and all inspections that a buyer may want must be done at buyer’s expense prior to the close of the online bidding. Stephenson Realty & Auction, Agents, Representatives or Employees may bid.
Title: As specified in the Contract for Sale of Real Estate
Deed: As specified in the Contract for Sale of Real Estate
Possession: As specified in the Contract for Sale of Real Estate
Real Estate Taxes and Closing Cost: All taxes will be prorated to day of closing using the most current available year’s tax amount. The purchaser will pay all other closing costs associated with the purchaser’s side of the sale, including local and state recording fees and any cost associated with the purchaser’s loan.
Easements: Subject to any and all easements of record.
Zoning: This property is subject to all state and local zoning ordinances.
Disclaimer: All properties are being sold 'as is, where is'. We encourage bidders to do property inspections and rely upon their own conclusions. All information is deemed reliable, but is not guaranteed. All information is believed to be correct to the best of the auctioneer's knowledge.
Bidder Verification: The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Stephenson Realty & Auction will reject the registration, and bidding activity will be terminated. The Seller and Stephenson Realty & Auction reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc. Bidders agree to keep their user-name and password confidential as they are responsible for ANY and ALL activity involving their account. When using the web site you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges.
Agency: Stephenson Realty & Auction, Agents and Representatives are agents of the Seller. Buyer and or Bidder agrees to hold harmless and indemnify Stephenson Realty & Auction and its Agents and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.
NEW DATA, CORRECTIONS, AND CHANGES: Please check for updated information prior to scheduled auction time to inspect any changes, corrections, or additions to the property information.
Disclaimer: All information contained in this information packet and all related materials are subject to the terms and conditions outlined in the Contract for Sale of Real Estate agreement. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation either expressed or implied, concerning the property is made by the Seller or Stephenson Realty & Auction Agents or Representatives. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in the brochure and on the website is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller, Stephenson Realty & Auction, Agents or Representatives. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. All decisions of Stephenson Realty & Auction are final.
Any dispute between Stephenson Realty & Auction, its Agents or Representatives and the Buyer(s) will be tried in a court of jurisdiction in Anderson County, Tennessee. By bidding on the property, buyer agrees to all terms and conditions set forth.
Terms Day of Sale: A 10% Deposit within 24 hours of the end of bidding, balance at closing within 30 – 40 days.
All information was derived from sources believed to be correct but not guaranteed.
A 10% Buyers Premium is added to bid price.
Property sold “AS IS, WHERE IS” with any and all faults.
ONLINE AUCTION TERMS:
Agency Disclosure: Stephenson Realty & Auction is acting as agent for the seller, not as buyer's agent.
AUCTION END TIMES: Stephenson Realty & Auction Online Auctions are timed events and all bidding will close at specified time. Stephenson Realty & Auction 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 6:00 receives a bid at 5:59, the close time will automatically extend 6:04. The auto extend feature remains active until no further bids are received within a 5-minute time frame.
REFRESH YOUR SCREEN CONSTANTLY DURING THE CLOSING MINUTES OF THE BIDDING
SERVER & SOFTWARE TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Stephenson Realty & Auction reserves the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor STEPHENSON REALTY & AUCTION 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 the email address provided in your registration with updated information as deemed necessary by Stephenson Realty & Auction.
TERMS: 10% of the final bid price as non-refundable earnest money in the form of a certified check, cash or wire transfer within 24 hours of the close of auction, with the balance of purchase price due at closing within 30 days after court approval. Purchaser shall be responsible for all wire transfer fees and any currency exchange fees to US dollars. Closing will be as specified in the Contract for Sale of Real Estate. 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 Contract for Sale of Real Estate.
DEED: Good Insurable Deed at Closing.
BUYER’S PREMIUM: There will be a buyer’s premium of 10% added to the bid price to arrive at final purchase price. Example: Bid Price $100,000 plus $10,000 (10% buyer’s Fee) equals purchase price of $110,000.
AUCTION BIDDER DEFAULT: Successful bidder not executing and returning the contract with earnest money deposit within 24 hours of the conclusion of the auction will be considered in default. In the event a winning bidder fails to submit the signed Contract for Sale of Real Estate and earnest money deposit, the winning bidder will be charged a penalty fee of $3,000.00 on the credit card provided at auction registration. Additional default remedies are reserved by Stephenson Realty & Auction and the Seller as provided in the Auction Terms and Conditions and the Contract for Sale of Real Estate. Stephenson Realty & Auction reserves the right to sell to the second-highest bidder in the event the successful high bidder does not comply with the terms of the sale.
Any dispute between Stephenson Realty & Auction, its Agents or Representatives and the Buyer(s) will be tried in a court of jurisdiction in Anderson County, Tennessee. By bidding on the property, buyer agrees to all terms and conditions set forth.
Acceptance of Bid Prices: Successful bidder(s) will be required to enter into a purchase agreement immediately following the close of the auction. Stephenson Realty & Auction will e-mail documents to be executed and fax or e-mail back to Stephenson Realty & Auction within 24 hours of the end of the auction. Successful bidders not executing and returning contracts with earnest money deposit within 24 hours will be considered in default. Any and all inspections that a buyer may want must be done at buyer’s expense prior to the close of the online bidding. Stephenson Realty & Auction, Agents, Representatives or Employees may bid.
Title: As specified in the Contract for Sale of Real Estate
Deed: As specified in the Contract for Sale of Real Estate
Possession: As specified in the Contract for Sale of Real Estate
Real Estate Taxes and Closing Cost: All taxes will be prorated to day of closing using the most current available year’s tax amount. The purchaser will pay all other closing costs associated with the purchaser’s side of the sale, including local and state recording fees and any cost associated with the purchaser’s loan.
Easements: Subject to any and all easements of record.
Zoning: This property is subject to all state and local zoning ordinances.
Disclaimer: All properties are being sold 'as is, where is'. We encourage bidders to do property inspections and rely upon their own conclusions. All information is deemed reliable, but is not guaranteed. All information is believed to be correct to the best of the auctioneer's knowledge.
Bidder Verification: The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Stephenson Realty & Auction will reject the registration, and bidding activity will be terminated. The Seller and Stephenson Realty & Auction reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc. Bidders agree to keep their user-name and password confidential as they are responsible for ANY and ALL activity involving their account. When using the web site you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges.
Agency: Stephenson Realty & Auction, Agents and Representatives are agents of the Seller. Buyer and or Bidder agrees to hold harmless and indemnify Stephenson Realty & Auction and its Agents and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.
NEW DATA, CORRECTIONS, AND CHANGES: Please check for updated information prior to scheduled auction time to inspect any changes, corrections, or additions to the property information.
Disclaimer: All information contained in this information packet and all related materials are subject to the terms and conditions outlined in the Contract for Sale of Real Estate agreement. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation either expressed or implied, concerning the property is made by the Seller or Stephenson Realty & Auction Agents or Representatives. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in the brochure and on the website is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller, Stephenson Realty & Auction, Agents or Representatives. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. All decisions of Stephenson Realty & Auction are final.
Any dispute between Stephenson Realty & Auction, its Agents or Representatives and the Buyer(s) will be tried in a court of jurisdiction in Anderson County, Tennessee. By bidding on the property, buyer agrees to all terms and conditions set forth.