AUCTION
TERMS AND CONDITION FOR REAL PROPERTY AUCTION
SATURDAY NOVEMBER 26, 2022
116 OLD MILLIGAN HWY
JOHNSON CITY, TN 37601
FURTHER DESCRIBED AS PARCEL ID 055E B 006.00


10% DOWN JUNE 2022. SUCCESSFUL BIDDER TO IMMEDIATELY SIGN PURCHASE CONTRACT UPON ACCEPTED BID BY SELLER. CLOSING TO TAKE PLACE WITHIN 30 DAYS OF CONTRACT SIGNING. ONLINE BIDDERS, THAT HAVE NOT DONE BUSINESS WITH RUSS COLLINS AND COMPANY REALTORS AND AUCTIONEERS WILL NEED TO PROVIDE A $20,000.00 DEPOSIT BEFORE BEING ALLOWED TO BID. DEPOSIT WILL BE REFUNDED IF YOU ARE NOT THE SUCCESSFUL BIDDER. THE REMAINDER 10% WILL NEED TO BE WIRE NO LATER THAN FRIDAY NOVEMBER 25TH, 2022

EARNEST MONEY DEPOSIT WILL BE FORFEITED IF BUYER DEFAULTS ON THE CONTRACT.

THE SELLER OR AUCTIONEER WILL NOT BE RESPONSIBLE FOR ARRANGING ANY FINANCING. PLEASE MAKE SURE YOU HAVE THE NECESSARY RESOURCES BEFORE BIDDING.

2022 PROPERTY TAXES WILL BE PRORATED.

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 SELLS WITH A CURRENT SURVEY. THERE IS A RECORDED EASEMENT AT THE DRIVEWAY, FOR INGRESS AND EGRESS.

OWNER OR COLLINS & COMPANY REALTORS AND AUCTIONEERS 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. IMPROVEMENTS WERE BUILT BEFORE 1978. LEAD BASED PAINT INSPECTION MAY BE PERFORMED BY THE BUYER, HOWEVER, THIS IS NOT A CONTINGENCY FOR CLOSING AND THE SELLER WILL NOT CURE IF LEAD PAINT IS FOUND.

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, RECORDING FEES, CLOSING AND ATTORNEY FEES. .

AUCTIONEER RESERVES THE RIGHT TO REJECT ANY BID CONSIDERED TO NOT BE IN THE BEST INTEREST OF THE SALE.

PROPERTY IS OFFERED TODAY WITH A RESERVE.

HOME AND ADDITIONAL WILL BE OFFERED SEPERATELY AND AS A WHOLE, A 10% REGROUPING FEE APPLY'S.

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

ANNOUNCEMENTS MADE SALE DAY TAKE PRECEDENCE OVER ALL OTHER PREVIOUS ADVERTISEMENT.

COLLINS & COMPANY REALTORS AND AUCTIONEERS
P.A.L. # 4465
112 SOUTH ARMED FORCES DRIVE
ELIZABETHTON, TN 37643

AUCTION SATURDAY NOVEMBER 26TH @ 10:00 A.M. THIS IS A LIVE AND ONLINE AUCTION EVENT NO BUYERS PREMIUM FOR THE HOME 116 OLD MILLIGAN HWY JOHNSON CITY, (MILLIGAN) TN 37601 HISTORIC HOME AT PUBLIC AUCTION - EARLY EAST TN FURNITURE AND ANTIQUES BEING OFFERED AFTER THE HOME AUCTION DIRECTIONS: From The Milligan Hwy, turn onto the Old Milligan Hwy in front of Milligan College. Home will be on the right. AUCTIONEERS NOTE: HOME AND ADDITIONAL LOT TO BE SOLD AT PUBLIC AUCTION, SATURDAY, NOVEMBER 26th, 2022, @ 10:00 AM. THIS IS A LIVE AND ONLINE AUCTION EVENT TO BE HELD ON SITE. AUCTIONEERS NOTE: First time offered on the market and has been in the same family since the early 1920's. Circa 1870's built home situated on a shade tree lot, with an additional lot being offered at public auction. Home has much history and historical ties to Milligan College. Classic 2 story farm style home, retaining original hardwood flooring and character of days gone by. Lower level, has the living room area with a fireplace. Off to the right is the original parlor area that takes advantage of the front and side views. Large dining room with original built in corner cupboards and off to the side is the kitchen with a back entryway to the upstairs area. There is an additional downstairs room that has been used as a bedroom with an adjacent full sized bathroom. Upstairs entry from the hall entryway of the home and offers 4 bedrooms and a bath. The upstairs retains all of the original hardwood flooring and you can see many of the characteristics of the original home. Gorgeous front porch area that is encompassed by a large shade trees and gives you the feel of that sweet Southern charm. Smaller structure on the property served as a doctors office in the day and was used by a doctor Chase. Dr. Chase was an ole "timey" Dr. who used the adjacent building to keep his horse and buggy there for quick use. The original Carriage house is now a 2 car garage with a large loft area and could be easily converted for living area. Adjacent lot will be offered separately and has City sewer and water. Great building lot and a rare find for this area. Home is in need of updates and repairs, but what a charming place to be able to call home. House Lot Size: .60 + or - acres. Additional Lot Size .38 + or - acres 4 Bedroom 2 Bath home Home was built in Circa 1870's 2140 Square feet. Taxes: County - $1,078.44 - City: $834.06 - Total $1912.50 TERMS: 10% DOWN AT CONTRACT SIGNING, CLOSING TO BE WITHIN 30 DAYS. SELLER IS SELLING AS IS WITH NO WARRANTIES EXPRESSED OR IMPLIED. HOME AND IMPROVEMENTS WERE BUILT BEFORE 1978 LEAD BASED PAINT INSPECTION MAY BE PERFORMED BY THE BUYER, HOWEVER SELLER WILL NOT CURE ANY ISSUES THAT MAY BE FOUND. SALE IS SUBJECT TO OWNER APPROVAL OF FINAL BID. ANNOUNCEMENTS MADE DAY OF SALE TAKE PRECEDENCE OVER ANY PREVIOUS ADVERTISEMENTS. COLLINS AND COMPANY REALTORS AND AUCTIONEERS OFFERS COMPLETE AND COMPREHENSIVE REAL ESTATE AND AUCTION SERVICES. VOTED BEST REAL ESTATE AGENCY, AUCTION FIRM, AUCTIONEER AND REALTORS BY THE JOHNSON CITY PRESS AND ELIZABETHTON STAR READERS CHOICE AWARDS. FOR MORE INFORMATION AND ADDITIONAL PHOTOS VISIT OUR WEBSITE @ WWW.COLLINSANDCOMPANY.INFO Phone: 423-543-5741 Auctioneer: David Collins P.A.L. # 4465 COLLINS & COMPANY REALTORS AND AUCTIONEERS The Tri Cities most innovative auction firm. Voted best Real Estate, Auction Firm, Auctioneer and Realtors by Readers Choice awards.