AUCTION TERMS AND CONITIONS FOR UPCOMING AUCTION WILL BE CONSIDERED PART OF THE BUYERS CONTRACT.

TERMS AND CONDITION FOR REAL PROPERTY AUCTION MAY 31 THROUGH JUNE 8, 2021.
FOR THE PROPERTY LOCATED AT 1116 AND 1118 HIGHWAY 67, ELIZABETHTON, TN 37643. PARCEL ID # 029G A 032.00.

10% DOWN DUE IMMEDIATELY UPON SIGNING OF CONTRACT. SUCCESSFUL BIDDER TO IMMEDIATELY SIGN PURCHASE CONTRACT UPON ACCEPTED BID BY SELLER.

THERE IS A 10% BUYERS PREMIUM FOR THIS AUCTION.

CLOSING TO TAKE PLACE WITHIN 30 DAYS OF CONTRACT SIGNING. EARNEST MONEY DEPOSIT WILL BE FORFEITED IF BUYER DEFAULTS ON THE CONTRACT. A $10,000.00 DEPOSIT MUST BE PRESENTED TO THE AUCTION COMPANY PRIOR TO BEING APPROVED FOR BIDDING. IF YOU DO NOT HAVE A WORKING RELATIONSHIP WITH THE AUCTION COMPANY THEN YOU WILL NOT BE APPROVED TO BID UNLESS A CHECK OR BANK WIRE OF FUNDS IS PRESENTED BEFORE THE END OF BIDDING TIMELINE.

THE SELLER OR AUCTIONEER WILL NOT BE RESPONSIBLE FOR ARRANGING ANY FINANCING. PLEASE MAKE SURE YOU HAVE THE NECESSARY RESOURCES BEFORE BIDDING. 2021 PROPERTY TAXES WILL BE PRORATED. SELLER WILL FURNISH DEED. BUYER(S) WILL PAY ANY OTHER EXPENSES.

SUBJECT TO ANY EXISTING EASEMENTS, CLAIMS OF EASEMENT OR RESTRICTIONS, ZONINGS, RIGHT OF WAYS OR ANY OTHER MATTERS NOT OF RECORD. INCLUDING ALL ROAD, WATER, SEWER AND POWER LINE EASEMENTS IF ANY.

PROPERTY IS SELLING WITHOUT A CURRENT SURVEY AND SELLS BY TAX DATA ONLY.

OWNER OR RUSS SWANAY REAL ESTATE OR AUCTIONEER WILL NOT BE HELD LIABLE FOR ANY PRESENT OR PAST ENVIRONMENTAL HAZARDS, SINKHOLES, OR ANY OTHER MATTERS THAT MAY AFFECT THE MARKETABILITY OF THE PROPERTY. PROPERTY WAS BUILT BEFORE 1978, BUYER HAS THE RIGHT TO DO A LEADBASED PAINT INSPECTION, HOWEVER, THE SELLER WILL NOT "CURE" ANY LEADBASE PAINT ISSUES.

THERE IS NO WARRANTY, EITHER WRITTEN OR IMPLIED ALL IMPROVEMENTS ARE BEING "SOLD AS IS." OWNER WILL TRANSFER THE PROPERTY WITH A WARRANTY DEED. IT IS THE BUYERS RESPONSIBILITY TO PAY FOR THEIR OWN TITLE OPINION AND RECORDING FEES.

AUCTIONEER RESERVES THE RIGHT TO REJECT ANY BID CONSIDERED TO NOT BE IN THE BEST INTEREST OF THE SALE. PROPERTY BEING OFFERED WITH A RESERVE.

THE AUCTIONEER NOR THE OWNER, WILL NOT BE HELD LIABLE FOR ANY ACCIDENTS THAT MAY OCCUR ON THE PREMISES.

RUSS SWANAY REAL ESTATE P.A.L. # 4465 112 SOUTH ARMED FORCES DRIVE ELIZABETHTON, TN 37643 PHONE (423)543-5741 AUCTIONEER: DAVID COLLINS

ONLINE ONLY AUCTION BIDDING STARTS MAY 31ST @ 8:00 A.M. AND BEGINS CLOSING ON JUNE 7TH @ 6:00 P.M. FOR MORE INFO AND ONLINE BIDDING VISIT OUR WEBSITE @ WWW.SWANAYPROPERTIES.COM 1120 HWY 91 ELIZABETHTON, TN 37643 2 UNIT APARTMENT BLDG WITH A SEPERATE GARAGE APARTMENT AND A 2 CAR GARAGE 1116 & 1118: HOUSE WITH A DETACHED APARTMENT ALL ARE IN IMMACULATE CONDITON DIRECTIONS: From Elizabethton, take Hwy 91 toward Stoney Creek, property will be on the right. AUCTIONEERS NOTE: 1120 HWY 91> Well maintained three unit apartment complex to be offered at online auction. Brick duplex, built in 1996, offers two 2 bedroom, 1 bath apartments, each with 957 square feet. Brick construction with an updated metal roof. Additional garage apartment was built in 1998 and offers a 2 bedroom, 1 bath apartment containing 896 square feet. There is also a 896 square feet two car garage comprised within this building. The garage apartment is of vinyl construction, also with an updated metal roof. All three units offer central heating and air conditioning. Total monthly income for all three apartments is $1,800. All units are separately metered for water and electricity with the tenants paying all utilities. This is a prime multi-family investment property, superbly maintained. 1116 & 1118 HWY 91> : Multi-family investment property to be sold at a public online auction. Property consists of a 3 bedroom, 1 bath home plus a 1 bedroom, 1 bath garage apartment unit. Currently, the house offers 1,163 square feet of living space with the apartment comprising 780 square feet. Both properties offer CH&A with the house offering a new heat pump. The house rents for $650 per month and the apartment rents for $400 per month. Creek front property. Excellent rental property. Online bidding period will begin May 31, 2021 and will end June 7, 2021. TERMS AND CONDITIONS: 10% down at contract signing. Closing to be within 30 days of contract signing. If you do not have a working relationship with our auction company, you will need to provide a $10,000.00 deposit before you will be approved for bidding. See additional terms and conditions at our bidding URL. There will be a 10% buyers premium added to the final bid to determine final contract price. Buyer may obtain a lead based paint inspection, but results are not contingent to closing. Owner is selling as is with no warranty's expressed or implied. Open house scheduled for May 21 -3 to 6 p.m. RUSS SWANAY REAL ESTATE OFFERS COMPLETE AND COMPREHENSIVE REAL ESTATE AND AUCTION SERVICES. VOTED # 1 BY THE READERS CHOICE OF CARTER COUNTY FOR BEST AUCTION AND REAL ESTATE FIRM. TO VIEW OUR CURRENT AUCTIONS, REGISTER OR BID ONLINE VISIT: WWW.SWANAYPROPERTIES.COM BEST WAY TO BID ONLINE: 1. Place your maximum bid with confidence! Our easy and trusted bidding system ensures you get the best prices. Your bid stays at the lowest price required to keep you in the lead, and increases only if another bidder places a competing bid. 2. In the event the bidding surpasses your maximum bid you will be notified prior to auction close with the option to adjust your bid. Bid with Confidence! 3. Bid with confidence as you are the only person with visibility to see your maximum bid! With our secure auction platform, we can only see the current bid price! Russ Swanay Real Estate 112 Armed Forces Dr. Elizabethton, TN 37643 423-543-5741 www.swanayproperties.com David Collins Principal Auctioneer P.A.L # 4465