WHO WHAT Hamilton County Court 2 Duplexes (4 units) on Plumwood Rd. 3407 & 3409 3411 & 3413 Plumwood Rd., Chattanooga, TN WHY WHEN Court Ordered Absolute Auction Saturday June 10, 2017 11:00am WHERE Auction taking place at: 8961 Dayton Pike, Soddy-Daisy, TN 37379 HOW Absolute Auction Selling to the Highest Bidder! INVESTMENT OPPORTUNITY!! Chance to own 4 cash producing properties on a quiet street in East DETAILS Chattanooga. See a quick return on your investment after fixing up the property to match the care the neighbors have taken. These brick exterior duplexes on one 0.55-acre lot are located next door to the Antioch Missionary Baptist Church and conveniently located near the Foxwood Shopping Plaza in the Eastdale neighborhood of East Chattanooga.
Table of Contents Greetings from Henry Glascock... 3 Pictures of Subject Property... 4 Aerial Photographs... 5 Site Description and Configuration... 7 Infrastructure / Streets / Access / Logistics... 7 Existing Use... 7 Topography... 8 Utilities... 8 Flood Hazard Statements (with FEMA Flood Map)... 9 Zoning... 9 Tax Card... 10 Sample Auction Contract... 12 Frequently Asked Questions... 13 Auction Terms and Conditions... 14 Disclaimer... 15
Greetings from Henry Glascock To: From: Subject: Prospective Bidders Henry B. Glascock Auction of Duplexes on Plumwood Rd 3407 & 3409 3411 & 3413 Plumwood Rd., Chattanooga, TN This property information package has been prepared to assist you in your pre-auction due diligence. Please carefully review the disclaimer and the auction terms. The Hamilton County Court has ordered the sale of this property due to a dispute of the estate of the deceased owner. The Court has ordered the Henry B. Glascock Company to auction off these 2 duplexes to the highest bidder at absolute auction. This is your chance to own 4 cash producing properties on a quiet street in East Chattanooga. See a quick return on your investment after fixing up the property to match the care the neighbors have taken. These brick exterior duplexes on one 0.55-acre lot are located next door to the Antioch Missionary Baptist Church and conveniently located near the Foxwood Shopping Plaza in the Eastdale neighborhood of East Chattanooga. No Open Houses are being held at the property prior to auction date. Feel free to visit the property at your convenience. The tenants are moving out, or have moved out of all 4 buildings. Please call us with any questions, perform your due diligence and plan to attend this important auction event, ready to buy at your price. Sincerely, Henry B. Glascock Henry B. Glascock Company
Pictures of Subject Property Front of 3407 & 3409 Plumwood Rd Front of 3411 & 3413 Plumwood Rd View of both duplexes
Aerial Photographs Aerial showing approximate lot dimensions Subject Property Aerial of Site: Subject Property
Aerial of Neighborhood: Subject Property Aerial of Chattanooga Subject Property
Site Description and Configuration 3407, 3409, 3411 & 3413 Plumwood Rd are 2 duplexes approximately 1,760 sq ft and 1,984 sq ft. Each duplex has 2 units with separate entry/exit. Both duplexes are located on 1 parcel (Hamilton County Tax ID# 137P K 008) which is a square shaped lot approximately 0.55 acres (24,025 sq ft). Both duplexes were built in 1973 and have brick exteriors. Infrastructure / Streets / Access / Logistics Located on Plumwood Rd which connects to Greenwood Dr to the northwest and Tunnel Blvd to the southeast. Conveniently located near the Foxwood Shopping Plaza in the Eastdale neighborhood of East Chattanooga. Existing Use Income producing property - currently vacant
Topography Subject Property Utilities All utilities are available at subject property Water Sewer Electricity
Flood Hazard Statements (with FEMA Flood Map) Flood Risk: Minimal Area of minimal flood hazard, usually depicted on FIRMs as above the 500-year flood level. Subject Property Zoning R-1 - Single-Family Residential
Tax Card
Sample Auction Contract
Frequently Asked Questions Q. Will there be any liens, back property taxes or past debts on the property when I purchase? A. The property will be sold free and clear of any liens, back property taxes or past debts. Current property taxes will be prorated to date of closing. Purchaser must buy title insurance to insure clear title at closing. Q. How much earnest money is due on Auction day? A. Twenty percent (20%) of the purchase price is due (personal check or otherwise) on auction day. High bid of $1,000 Buyer s premium $ 100 Purchase price $1,100 Earnest money (20%) $ 220 Balance due in 30 days $ 880 Q. What other expenses will the buyer have at closing? A. The cost to record the deed plus the transfer taxes based on the purchase price, the cost of title insurance and any Purchaser s closing fees or property tax pro-rations. Q. When is the closing? A. On or before 30 days after the auction. Contact the auctioneer for details about the closing attorney or if more time is needed to close. Q. Are there any deed restrictions? A. No
Auction Terms and Conditions AUCTION LOCATION: The auction will be held 8961 Dayton Pike, Soddy-Daisy, TN 37379. Look for AUCTION sign. The Auction will take place at 11:00 AM Eastern Standard time. INSPECTION: The Property is open for inspection at your own risk. Those inspecting the property assume all risks associated with any inspection of the property. Acreage amount and dimensions described herein are approximate. BIDDING TERMS: Pay 20% (of the purchase price, which is the high bid amount plus Buyer s Premium) earnest money down at the auction and sign Contract of Sale. Balance due at closing within 30 days. A copy of the contract may be reviewed prior to the auction by contacting the auctioneer. BUYER S PREMIUM: There is a 10% buyer s premium being charged at this auction. Example: For each $10,000 of bid amount, there will be a $1,000 buyer s premium added to arrive at a purchase price of $11,000. CLOSING: Balance of the purchase price is due on or before Monday, July 12 th, 2017. Contact the Auctioneer if more time is needed to close. CLOSING ATTORNEY: Closing shall be conducted by First Title Insurance Company, Chattanooga, Tennessee (423.265.2507). Closing costs shall be paid by the Purchaser and shall include, but not limited to, deed preparation and attorney s fees to prepare such deed, recording fees, title examination, tax search fee and transfer tax fee, if applicable. Title insurance through First Title Insurance Company shall be paid by the Purchaser. AGENCY: Henry B. Glascock Company - broker, Karl Sodergren - Auctioneer is acting exclusively as agent for the seller. SPECIAL NOTE: Property is selling as-is, where-is with all faults and is selling subject to easements, leases, restrictions, covenants, conditions, zoning and all other matters revealed by a current survey or an inspection of the property or contained in public records. The only representation and warranties made are those contained in the Contract of Sale. Seller reserves the right to add or delete property, or cancel the sale, prior to the auction. Properties will be conveyed by General Warranty Deed. Information contained herein was obtained from sources deemed reliable. The property will sell as-is, where-is with no warranty, express or implied, as to improvements, soil condition, environmental and wetlands, or zoning. Any personal property conveyed with real estate will be by separate agreement. Although every precaution has been taken to ensure accuracy, neither the seller, Henry B. Glascock Company nor their agents will be responsible for any errors or omissions herein. Bidders should carefully verify all information and make their own decisions as to the accuracy thereof before submitting their bid. The terms of the Contract of Sale are controlling in the event of any perceived inconsistency between its terms and any statements in this brochure or other advertisements. Announcements made at the auction will take precedence over written matters.
Disclaimer Seller reserves the right to add or delete any property or cancel the sale prior to the auction. Properties will be conveyed by General Warranty Deed. The property will sell as-is, where-is with no warranty, express or implied, as to improvements, soil condition, environmental and wetlands, or zoning. Any personal property conveyed with real estate shall be by separate contract. Information contained herein was obtained from sources deemed reliable. Although every precaution has been taken to ensure accuracy, neither the seller, Henry B. Glascock nor their agents will be responsible for any errors or omissions herein. Bidders should carefully verify all information and make their own decisions as to the accuracy thereof before submitting their bid. AGENCY DISCLOSURE Henry B. Glascock Company, with Henry B. Glascock as principal broker and Karl Sodergren as auctioneer, is hereby giving notice that they are agents and representatives of the owner/seller of the property described in this property information package. ATTORNEY REVIEW RECOMMENDED It is recommended that all information included in this property information package and all other auctionrelated material be carefully reviewed by your attorney. Additionally, all terms and procedures are subject to and may be superseded by changes distributed or announced to bidders prior to the auction. The property is being sold on an as is, where is basis with all faults, and seller makes no representations or warranties except for the warranty of title set forth in the Limited Warranty Deed to be delivered to the purchaser at closing. PROPERTY INSPECTION Your complete inspection and the inspection of the property by your professionals prior to the auction is encouraged. Those inspecting the property assume all risks associated with any inspection of the property. Please call Paul Chapman at the Henry B. Glascock Company to schedule a site visit. 423.825.0049