Memphis, TN, United States
DoneWed, Aug 16, 2006 11:30 PM UTC
Resort Land and Memphis Investment Properties
A 6 lot auction will be held August 16 of 6 resort lots in Texas, Arkansas, South Carolina and Pennsylvania. On August 21, we will auction Memphis Investment Properties including 13 condominiums and an 8 unit apartment building and around 10 houses plus additional resort properties. Some of these properties are turn-key investments with tenants on leases.
Auction & Auctioneer Information
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Terms & Conditions
Land and Timeshare Auction Terms: You are bidding on the FULL purchase price of this lot. This is NOT a Down Payment Auction. There are closing costs of $195.00 which covers the deed preparation and recording fees. A Buyer's Premium of 10% will also be added to the final bid amount. Winning Bid + Processing Fee + Buyer's Premium= Total Purchase Price. Once payment is received, then a Special Warranty Deed will be issued. This deed will be sent to the county to be recorded and then forwarded to you. We accept payment via money orders, Credit Cards directly or via Paypal, and personal checks (requires 2-weeks to clear). Payment must be received within 5 days of auction close. Buyer agrees to pay past due fees or taxes if any as listed in auction details. A Buyer must do their own due diligence in deciding to purchase this lot as all purchases are final and binding. Payment must be received within 5 days of auction close. This property is sold "AS IS" with any and all faults. All information contained in this auction was obtained from information and sources that are presumed to be reliable and accurate to the best of our knowledge. We however, make no guarantee expressed or implied as to the exact location, present condition, accessibility, terrain, buildability or information contained in this listing. Please do not bid if you are unsure of anything or until every objection that you have has been resolved, such as talking it over with your partner or spouse. The owner of the property is Veritas Properties, LC or a subsidiary. Veritas Properties, LC is a limited liability company and one of the members is a licensed real estate agent. Please do not bid until you are able and intend to complete the transaction in every way. House, Duplexes and Apartments and other Improved property Terms CONTRACTS AND DEPOSITS : The successful bidder must sign all documents and contracts immediately upon conclusion of the auction. Paypal and wire transfer or overnighting of cashier checks within 24 hours of auction are only acceptble ways to pay non-refundable deposit. The remianing balance can not be paid with a credit card or paypal BUYERS PREMIUM: A buyers premium of ten percent (10%) shall be added to the successful bidder's high bid and included in the total purchase price to be paid by the successful bidder. Property is sold "AS IS, WHERE IS, WITH ALL FAULTS WITHOUT REPRESENTATION OF WARRANTY OF ANY KIND. All announcements day of sale take precedence over all printed matter. The real property shall be sold subject to conditions, restrictions, rights-of-way easements, and reservations, if any, of record, filed and unfiled mechanics and materialsmen's liens, if any, and all other matters of record taking priority, subject to the rights if any, of tenants-in-possession, and further subject to all conditions announced at sale; and confirmation of the seller. Risk of loss or damage to the property shall be borne from and after the time of sale. REAL ESTATE CLOSINGS : Buyers must close sales of real property within 30 days (or sooner if noted in specific terms and conditions) of confirmation of bids. Time is of the essence. The entire purchase price must be paid by cashier's or certified check, attorney's escrow check, or wired funds at closing. NO purchase is contingent on financing. Buyer is entitled to a deed for property upon full payment. LEAD BASED PAINT : The ten (10) day inspection period for residential property is prior to the auction, and the opportunity is hereby waived from and after the date and time of auction. ADDITION OR WITHDRAWAL FROM SALE; CONDITION OF SALE : The Dixie Agency of Memphis, LLC reserves the right to withdraw from sale the property listed and reserves the right to group properties into one or more selling lots or to subdivide into two or more selling lots. The Dixie Agency of Memphis, LLC reserves the right to cancel the auction up to the time prior to the start of bidding. These properties are sold in gross in all cases. If a subsequent survey by the buyer shows a greater or lesser number of acres or square footage this will not affect the purchase or purchase price. AGENCY : The Auctioneer is acting as agent on the behalf of the sellers only. During bidding, the Auctioneer has the right to reject any raise that, in his opinion, is not commensurate with the property value. In the event of any dispute between bidders, the Auctioneer may determine the successful bidder or re-offer and resell the property in dispute. Should there be any dispute after the sale, The Dixie Agency of Memphis, LLC's record of final sale shall be conclusive. RIGHTS : All announcements the day of sale take precedence over any prior written or verbal terms of sale. Buyers will acquire properties subject to rights of all parties in possession. If any conditions contained herein are not complied with by the buyer, The Dixie Agency of Memphis, LLC may, in addition to asserting all remedies available by law, including the right to hold defaulting buyer liable for the purchase price, either (a) cancel the sale, retaining as liquidated damages any payment made by such buyer; (b) resell the property at public auction; or (c) take such other action as it deems necessary or appropriate. The retention of the bidder's deposit shall not limit any rights or remedies of The Dixie Agency of Memphis, LLC or sellers with respect to the buyers default. If the property is resold, the original defaulting buyer shall be liable for payment of any deficiency in the purchase price and all costs and expenses, the expenses of both sales, reasonable attorney's fees, commissions, incidental damages and all other chares due hereunder. JURISDICTIONS : The respective rights and obligations of the properties with respect to the Terms and Conditions of Sale and the conduct of the auction shall be governed and interpreted by the laws of the State in which the real estate lies. By bidding at any auction, whether present in person or by agent, by written bid, or other means, the buyer shall be deemed to have consented to the jurisdiction of the state and federal courts sitting in the state of which the real estate lies.
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