DISCLAIMER This Bidder s Information Packet is solely intended to provide interested parties with preliminary information only and is not a solicitation of offers and does not constitute an offer to sell. The delivery of this material to any person shall not create any agency relationship between such person and Furrow Auction Company. The information included herein is believed to be correct, but it is not guaranteed; some of the information furnished is from outside sources deemed to be reliable but is not certified as accurate by the seller or Furrow Auction Company. All of the information contained herein is subject to corrections, errors and omissions. All bids must be based on the bidder s own investigation of any property offered herein and not on any representations made by any selling broker or any other party. Neither seller or Furrow Auction Company makes any representation or warranty, express or implied, with respect to the property identified herein, and the property is being sold in an AS-IS, WHERE-IS, WITH ALL FAULTS condition except as specifically stated in the purchase and sale contract. This property is offered for sale to qualified purchasers without regard to potential purchaser s race, color, religion, sex, marital status or national origin. All announcements made at the auction or in the bid offering take precedence ov er any other information or printed material. Property may be added or deleted without notice or penalty. All prospective bidders are specifically advised to refrain from exclusive reliance on the information provided herein as a basis for making a bid on the property. Prospective purchasers are further encouraged to conduct a personal inspection of the property which they contemplate purchasing.
Table of Contents 1. Terms and Conditions 2. Property Overview 3. Plat of Record 4. Tax Information 5. Utility Information 6. Zoning Information 7. Title Commitment 8. Sample Sale Day Contract 9. Sample Deed
Online Bidding Real Estate Terms and Conditions Bidding Starts: Thursday, January 19 th at 12 Noon, EST Bidding Ends: Monday, January 23 rd at 12 Noon, EST (If a bid is placed in the last five (5) minutes remaining, bidding for the lot will remain open for an additional five (5) minutes). Location: 2055 Shaw Ferry Rd., Lenoir City, TN 37772 Inspection: Vacant Land Inspect at any time Payment: The Successful bidder shall pay an amount of 20% of the purchase price (including Buyer s Premium) (Earnest Money) and is due by 4pm on January 23, 2017 in the form of cash, cashier s check or wire transfer, plus a real estate sales contract must be signed. Balance is due in certified funds at closing. CLOSING MUST OCCUR WITHIN 20 DAYS OF COURT CONFORMATION. NO EXTENSIONS AVAILABLE. Buyer s Premium: There is a 10% Buyer s Premium in effect for this auction. Terms for Online Bidding: The online registration will need to be completed, including credit card information which will be verified and approved, and the credit card will be charged $1.00 for this process. If you are the successful bidder and do not deliver the earnest money as outlined above, a charge of 20% of the Purchase Price will be placed on the credit card plus a 3% credit card fee. The card is for verification purposes to ensure we have serious bidders. The balance of the contract price will be paid in full at closing 20 days after court confirmation. The successful online bidder will be notified immediately following the closing of the auction and issued the sales contract. The executed sales contract shall be submitted per the instructions received with the contract. If you have any questions, please call our office at 865-546-3206. BUYER S PREMIUM: A 10% buyer s premium will be added to the high bid. Example: For each $10,000 a 10% buyer s premium of $1,000 will be added to arrive at the total purchase price. AGENCY: Furrow Auction Company, auctioneer/broker, is acting exclusively as agent for the seller. CLOSING ATTORNEY: Closings will be conducted by Tennessee Valley Title, Knoxville, TN. Purchaser will pay all closing costs, including, but not limited to, deed preparation and attorney s fees to prepare such deed recording fees, title examination, transfer tax and purchaser s legal fees. Taxes for 2016 will be paid by seller. Purchaser assumes all of the 2017 taxes. Title insurance may be required at the purchaser s expense. For questions regarding closings contact Rob Strickland, Furrow Auction Company, 865-546-3206 or email rob@furrow.com. DISCLAIMER: Property is selling as-is, where-is with all faults and is selling subject to easements, leases, restrictions, covenants, conditions, zoning HOA and POA fees and all other matters which would be revealed by a current survey or an inspection of the property or which is contained in public records. Seller reserves the right to cancel the sale. Property will be conveyed by a Special Warranty Deed. Information contained herein was obtained from sources deemed reliable. The seller and their agents reserve the right to place bids on the property up to the seller s reserve at their sole discretion. The
property will sell as-is, where-is with no warranty, expressed or implied, as to improvements, soil condition, environmental and wetlands, or zoning. No personal property conveyed with real estate. Neither the seller, Furrow Auction 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. Purchaser or purchaser s representative will acknowledge by signature of the Contract of Sale they have inspected the property. The terms of the Contract of Sale are controlling in the event of any perceived inconsistency between its terms and any statements or other advertisement. Cash Sale: This is a cash sale and is not contingent on Purchaser s ability to obtain financing. Possession: Purchaser will receive possession at closing. No New Survey: The Property shall be conveyed by the existing legal description. Equal Opportunity Clause: All bidding is open to the public. The property is available to qualified purchasers without regard to a prospective purchaser s race, color, religion, sex, material status, national origin, or physical handicap. Debt Collection and Interest Charge: The bidder agrees to pay all reasonable attorney fees and other costs incurred by Furrow Auction Company in its efforts to collect unpaid funds from the bidder. The bidder agrees that a fee of 2% of the outstanding balance per month be added to any unpaid balance due Furrow Auction Company. Any debt collection or dispute proceedings will be heard in Knox. County. Guaranty Agreement: By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees payment of any bid amount not paid when due by the business entity or corporation, for any reason, together with all collection expenses incurred to enforce collection, including a reasonable attorney s fee. Age Requirement: All bidders must be 18 years of age or older.
Property Report Wednesday, November 30, 2016 2055 Shaw Ferry Rd, Lenoir City, TN 37772 Loudon County, TN parcel# 016 354.01 Property Report Location Property Address Subdivision County Current Owner Name Mailing Address Property Summary Property Type Land Use Improvement Type Square Feet 2055 Shaw Ferry Rd Lenoir City, TN 37772 Loudon County, TN Skinner Tillman Etux Beverly 2051 Shaw Ferry Rd Lenoir City, TN 37772-6055 Residential General Parcel Information Parcel/Tax ID 016 354.01 Special Int 000 Alternate Parcel ID Land Map 016 District/Ward 02 2010 Census Trct/Blk 603.02/3 Assessor Roll Year 2016 Sales History through 11/10/2016 Date Amount Buyer/Owners Buyer/Owners 2 Instrument Quality Book/Page or Document# 06/19/2009 Skinner Tillman Etux Beverly 334/661 04/01/1974 Redmond Weltha B 117/251 Tax Assessment Appraisals Amount Taxes Amount Jurisdiction Rate Assessment Year 2016 Tax Year 2015 Appraised Land $39,600 City Taxes $0 Appraised Improvements $0 County Taxes $184.01 Loudon 1.8587 Total Tax Appraisal $39,600 Total Taxes $184.01 Total Assessment $9,900 Exempt Amount Exempt Reason Mortgage History No mortgages were found for this parcel. Property Characteristics: Building No Buildings were found for this parcel. Property Characteristics: Extra Features No extra features were found for this parcel. COPYRIGHT 2016 COURTHOUSE RETRIEVAL SYSTEM. ALL RIGHTS RESERVED. Call (865) 584-8017. Information Deemed Reliable But Not Guaranteed.
2055 Shaw Ferry Rd, Lenoir City, TN 37772 - Loudon County, TN parcel# 016 354.01, cont. Property Characteristics: Lot Land Use Lot Dimensions Block/Lot Lot Square Feet 72,745 Latitude/Longitude 35.813511 /-84.242160 Acreage 1.67 Property Characteristics: Utilities/Area Gas Source Road Type Paved Electric Source Public Topography Rolling Water Source Public District Trend Stable Sewer Source Special School District 1 Zoning Code R1 Special School District 2 Owner Type Legal Description Subdivision Plat Book/Page Block/Lot Description District/Ward 02 Flood Zone Information Zone Code Flood Risk BFE Description X Minimal Area of minimal flood hazard, usually depicted on FIRMs as above the 500-year flood level. Zone Source: FEMA DFIRM Data Firm Panel FIRM Panel ID Eff. Date 47105C0125D 05/16/2007 COPYRIGHT 2016 COURTHOUSE RETRIEVAL SYSTEM. ALL RIGHTS RESERVED. Call (865) 584-8017. Information Deemed Reliable But Not Guaranteed.
CRS Bing Map Map for Parcel Address: 2055 Shaw Ferry Rd Lenoir City, TN 37772, Parcel ID: 016 354.01 COPYRIGHT 2016 COURTHOUSE RETRIEVAL SYSTEM. ALL RIGHTS RESERVED. Call (865) 584-8017. Information Deemed Reliable But Not Guaranteed.
Loudon County - Parcel: 016 354.01 November 30, 2016 1:1,000 0 0.0075 0.015 0.03 mi 0 0.0125 0.025 0.05 km OIR-GIS Services
Parcel Detail Page 1 of 2 Home About New Search Return to List County Number: 053 County Name: LOUDON Tax Year: 2016 Property Owner and Mailing Address Jan 1 Owner: SKINNER TILLMAN ETUX BEVERLY 2051 SHAW FERRY ROAD LENOIR CITY, TN 37772 Current Owner: SKINNER TILLMAN ETUX BEVERLY C/O ETHRA 9111 CROSS PARK DRIVE SUITE D100 KNOXVILLE, TN 37923 Property Location Address: SHAW FERRY RD 2055 Map: 016 Grp: Ctrl Map: 016 Parcel: 354.01 PI: S/I: 000 Value Information Reappraisal Year: 2013 Land Mkt Value: $39,600 Improvement Value: $0 Total Market Appraisal: $39,600 Assessment %: 25 Assessment: $9,900 General Information Class: 00 - RESIDENTIAL City #: 000 City: SSD1: 000 SSD2: 000 District: 02 Mkt Area: C01 # Bldgs: 0 # Mobile Homes: 0 Utilities - Water / Sewer: 00 - PUBLIC / NONE Utilities - Electricity: 01 - PUBLIC Utilities - Gas / Gas Type: 00 - NONE Zoning: R1 Subdivision Data Subdivision: Plat Bk: Plat Pg: Block: Lot: Additional Description Building Information Extra Features Sale Information Sale Date Price Book Page Vac/Imp Type Instrument Qualification 06/19/2009 334 661 04/01/1974 $0 117 251 Land Information http://www.assessment.cot.tn.gov/re_assessment/parceldetailimpact.aspx 11/30/2016
Parcel Detail http://www.assessment.cot.tn.gov/re_assessment/parceldetailimpact.aspx Page 2 of 2 11/30/2016 Deed Acres: 1.67 Calc Acres: 0.00 Total Land Units: 1.67 Land Type: 03 - SMALL TRACT Soil Class: Units: 1.67 New Search Return to List View GIS Map for this Parcel Glossary of Terms How to Search Fact Sheet Division of Property Assessments Home Page Comptroller of the Treasury Home Page State of Tennessee Home Page
Tax Information 2055 Shaw Ferry Rd., Lenoir City, TN Estimated County Taxes: $184.01 o Current year taxes to be pro-rated at closing. o Back taxes (if applicable) will be paid by seller For more information, please contact the Loudon County Trustee s Office at office at (865) 458-3103 or visit them at http://www.loudoncounty-tn.gov/government/trustee.php.
Utility Information 2055 Shaw Ferry Rd., Lenoir City, TN Electric: Water: Lenoir City Utilities Board Lenoir City Utilities Board For additional information, please contact Lenoir City Utilities Board at (865) 986-6591 or visit them at www.lcub.com. Gas: Not Available in Area (Propane would be an option Contact Suburban Propane at 800-884-6761) Sewer: Not Available in Area (property would have to utilize septic system information on septic systems can be obtained from the Loudon County Environmental Health Dept. - 865-408-9051)
Zoning Information 2055 Shaw Ferry Rd., Lenoir City, TN According to Nancy Henson, with the Loudon County Planning Dept. (865-458-3880), the subject property is zone R-1. R-1, Suburban Residential District (Loudon County): Additional information can be obtained via the Loudon County Planning & Zoning Office at 865-458-4470.
ft Zoning MapMy Map 8 LOUDON COUNTY, TENNESSEE 0 90 180 DISCLAIMER: THIS MAP IS FOR PROPERTY TAX ASSESSMENT PURPOSES ONLY. IT WAS CONSTRUCTED FROM PROPERTY INFORMATION RECORDED IN THE OFFICE OF THE REGISTER OF DEEDS AND IS NOT CONCLUSIVE AS TO LOCATION OF PROPERTY OR LEGAL OWNERSHIP. MAP DATE: December 1, 2016
furrow auction co. SAMPLE SALES CONTRACT DATE: January 23, 2017 This contract entered into this 23rd Day of January, 2017 by and between with an address of the Seller; FURROW AUCTION COMPANY, with an address of 1022 Elm Street, Knoxville, TN 37921 (phone:865-546-3206),agent and, with an address of, BUYER. WITNESSETH Pursuant to a bid placed at real property auction conducted by Agent on behalf of Seller and the terms and conditions agreed upon by Buyer in conjunction with Buyer placing a bid for purchase, Seller hereby agrees to sell to Buyer, and Buyer hereby agrees to purchase from Seller, subject to the conditions hereinafter set out, the following described premises: Approximately 1.67 acres vacant, residential lot consisting of approximately 72,745 square feet. Property is located at 2055 Shaw Ferry Road in Lenoir City, TN identified as Parcel/Tax ID 016 354.01 in the Loudon County, TN Property Assessor s Office and further described in Deed Book 334 on Page 661 as recorded in the Loudon County, TN Register of Deeds Office, the Property. In consideration of $, paid by Buyer as earnest money and part of the purchase price, the EARNEST MONEY, receipt of which is hereby acknowledged, this contract is made binding on both parties, their heirs, executors, successors and/or assigns. Seller shall deliver to Buyer a SPECIAL WARRANTY DEED conveying fee simple title to the Property to Buyer free and clear of all encumbrances, except as stated herein, being: PRIOR YEAR PROPERTY TAXES WILL BE PAID BY THE SELLER AT CLOSING. ALL CURRENT YEAR PROPERTY TAXES WILL BE PAID BY THE BUYER AT CLOSING. RIGHTS OF TENANTS IN POSSESSION (IF APPLICABLE); PRO-RATION OF RENTS (IF APPLICABLE); ANY RECORDED OR VISIBLE ROAD-WAY RIGHTS OF WAY, RAILROAD OR UTILITY EASEMENTS; SUB-DIVISION RESTRICTIONS; HOA REQUIREMENTS; ZONING; ALL EXCEPTIONS BOTH STANDARD AND SPECIAL AS SHOWN ON COMMITMENT FOR TITLE OBTAINED BY SELLER FROM OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY DATED, COMMITMENT #. BUYER SHALL PAY ANY AND ALL TRANSFER TAXES AND/OR RECORDING FEES IN CONJUNCTION WITH THIS DEED. SELLER OR AGENT MAKES NO REPRESENTATIONS OR WARRANTIES WITH RESPECT TO TITLE TO THE SUBJECT PROPERTY. Buyer shall, within 20 days after Court Confirmation which is scheduled for, pay for the property the total purchase price of $ (WHICH SUM INCLUDES 10% BUYER'S PREMIUM ABOVE THE BID PRICE), under the following terms: 20% DOWN WITH THE SIGNING OF THIS CONTRACT; BALANCE DUE IN CASH AT CLOSING WITHIN 20 DAYS. THIS IS A CASH TRANSACTION - CLOSING NOT SUBJECT TO ANY CONTINGENCIES. TITLE INSURANCE AND/OR SURVEY FOR THE PROPERTY MAY BE PROCURED BY BUYER AT BUYER'S SOLE OPTION AND EXPENSE. THIS PROPERTY SOLD IN ITS AS IS, WHERE IS WITH ALL FAULTS CONDITION WITH NO WARRANTIES EITHER IMPLIED OR EXPRESS EXCEPT WARRANTY OF TITLE. Buyer acknowledges that all properties are being sold at public auction, subject to all existing covenants, conditions, restrictions, reservations, exploration rights, easements, rights of way, assessments, zoning, and all other land use restrictions. No personal property is included in this contract. DEED SHALL BE MADE: AS DIRECTED BY BUYER Title Insurance (at Buyer's expense ) Yes ( ) ( ) No WILL ADVISE - Buyer may, at its own expense, obtain title insurance provided Seller shall not incur any cost as a result of such insurance. IT IS FURTHER MUTUALLY AGREED 1. Agent. Agent is not the owner of the Property, but solely an agent for Seller, who is the Conservator for the fee owner of the Property. 2. Seller s Default. If marketable title subject to the above-listed exceptions cannot be given to Buyer at closing, the Earnest Money in the amount of $ will be refunded to Buyer as Buyer s sole remedy. This contract is subject to any event that would adversely affect the quality of title as described in Schedule B of above-referenced Title Commitment subsequent to the execution of this sales contract. 3. Casualty. The risk of hazard or casualty loss or damage to Property shall be borne by the Seller until transfer of title. If casualty loss prior to Closing exceeds 10% of the Purchase Price, Seller or Buyer may elect to terminate this Agreement with a refund of Earnest Money to Buyer. 4. Buyer s Default. If Buyer fails to carry out and perform the terms of this agreement within 20 days after Court Confirmation except in the case of Seller s default, Seller may recover additional damages or obtain specific performance as permitted by law. In such event, Agent may retain the earnest money for commissions previously earned and related sales expenses from the forfeited Earnest Money. 5. Closing and Settlement. Closing to be conducted by Tennessee Valley Title, Knoxville, TN, Phone # 865-523-6254 on or before. At the closing each party shall execute and deliver all documents necessary to effect and complete the closing, any statements, including any affidavits reasonably required by the Title Company for issuance of its title policy without the standard preprinted exceptions. The Deed to be executed by Seller shall be on the form then generally used by the Title Company and shall convey to Buyer marketable fee simple title, free and clear of all liens, restrictions and encumbrances except as specified herein and insurable as such by the Title Company at standard rates on the current American Land Title Association Owner's Policy Standard Form, 1992. All blanks in all of the closing documents shall be filled in at the closing, and all documents shall otherwise be conformed to meet the requirements of the parties as expressed in this Contract. Buyer shall pay all closing cost. 6. Condition of Property. Buyer hereby acknowledges Buyer s obligation to perform due diligence in regard to this transaction as well as the condition of the Property, and agrees that an inspection of the Property has been made by Buyer, that the purchase is based upon such inspection and such additional independent investigation as Buyer has chosen to make, and not by or through any representations made by Seller or Agent. Buyer agrees that Buyer is acquiring the Property as is, where is, with all faults and defects, latent and patent, whether known, unknown, disclosed, or undisclosed by Seller, and Buyer acknowledges and agrees that Seller has not made, does not make, and Seller hereby specifically disclaims any representations, warranties, promises, covenants, agreements, or guaranties of any kind or character whatsoever, whether expressed or implied, oral or written, past, present, or future, of, as to, concerning or with respect to (a) the habitability, merchantability, or fitness of a particular purpose Page 1 of 2 1022 Elm Street Knoxville, TN 37921 (865) 546-3206 1-800-4FURROW www.furrow.com
furrow auction co. SAMPLE SALES CONTRACT of the Property or any part thereof; (b) the compliance of or by the Property or its operation with any laws, rules, ordinances, or regulations of any governmental authority or body having jurisdiction including, without limitation, all applicable zoning laws or other land use regulations including those, without limitation, permitting and certificates of occupancy; (c) the nature, quality, or condition of the Property, including, without limitation, water, soil, and geology, or the presence or absence of any pollutant, mold, lead-based paint, radon, hazardous or toxic substance or material, hazardous or solid waste, termites or other wood destroying organism or any other type of insects, underground or above ground storage tank system, or any other contamination or environmental condition on, in, under, or about the Property; (d) the suitability of the Property for any and all activities and uses which Buyer may intend to conduct thereon; (e) any income to be derived from the Property; (f) the marketability, merchantability, age, quality, state of repair, or fitness for a particular purpose of any items of personal Property that may or may not be located upon the Property, including, without limitation, any HVAC, cooking, refrigerating, dishwashing, plumbing, or electrical apparatus or equipment boilers, engines, motors, generating equipment, piping or plumbing fixtures, underground or above ground storage tank systems, ventilating or vacuum cleaning systems, irrigation systems, fire alarms, fire extinguishing apparatus, security systems, telephone systems, telephone jacks, cable jacks, gas and electric fixtures, elevators, mantels, built-in mirrors, screens, storm sashes, awnings, carpeting, under padding or drapes; or (g) any other matter related to or concerning the Property or any items of personal property which may or may not be located thereon. Buyer shall not seek recourse against Seller on account of any loss, cost, or expense suffered or incurred by Buyer with regard to any of the matters described in above and hereby assumes the risk of any adverse matters related to the matters described above from and after the date of closing. In addition, and without limiting the foregoing, Seller specifically makes no representations as to the existence, suitability, or the working condition of, of any system including but not limited to electric, gas, water, (public or well), septic (public or private), cable, internet, or the status of any available permits or approvals related thereto. Buyer hereby expressly waives any and all claims for damages or rescission of this contract due to any representations made by Seller or Agent, except such representations as may be contained in this contract. THE PROPERTY SHALL BE TRANSFERRED TO AND ACCEPTED BY ANY BUYER IN AS-IS CONDITION WITH NO REPRESENTATION OR WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, OTHER THAN THOSE EXPRESSLY CONTAINED HEREIN AND FREE OF ANY AND ALL LIENS, ENCUMBRANCES, SECURITY AGREEMENTS OR OTHER FINANCING DEVICES, EXCEPT AS EXPRESSLY ALLOWED HEREIN. Seller and Agent each makes no representations or warranties of any kind as to the suitability of the Property for any purpose whatsoever or as to the physical condition thereof (including, without limitation, environmental condition) or otherwise. It is expected that Buyer will rely on its own inspection to determine the condition of the Property, and will not rely on any statement or representation of Seller, or Seller s agents (including Agent), representatives or consultants with respect thereto. Buyer agrees to accept the Property without recourse against Seller of any kind under applicable laws and regulations. By acceptance of the deed to the Property, Buyer shall have released and waived any claim against or rights of contribution against Seller or Agent under any Environmental Law for environmental conditions at the Property that may exist as of the closing date and such release and waiver shall survive the closing and the transfer of title to the Real Property. For purposes hereof, Environmental Laws includes, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended (42 U.S.C. 9601, et. seq.), the Hazardous Materials Transportation Act, as amended (49 U.S.C. 108, et. seq.), the Resource Conservation and Recovery Act, as amended (42. U.S.C. 6901, et. seq.), the Toxic Substances Control Act, as amended (15 U.S.C. 2601, et seq.), the Clean Water Act, as amended (33 U.S.C. 1251, et. seq.), and/or any corresponding state law and the regulations, rules, ordinances, decisions, orders, or determinations of a judicial or governmental entity. 7. Acknowledgement. Buyer acknowledges that in connection with its purchase of this Property from Seller, Agent disclosed to the undersigned Buyer all information, if any, made known by Seller to Agent concerning the exposure of the Property to hazardous wastes and/or substances, and/or the storage of hazardous wastes and/or substances and/or existence of lead-based paint or Chinese drywall or other defective drywall on the Property. The undersigned Buyer is hereby determining to go forward with the purchase based on this information. 8. Agency Disclosure Statement. Buyer acknowledges that Agent disclosed Seller's name. 9. Assignment. Buyer may assign this contract provided Buyer shall give Agent notice in writing of such assignment prior to the closing. The terms and provisions of this contract shall be binding upon and inure to the benefit of Seller and Buyer and their respective heirs, executors, successors and/or assigns and no assignment of this Sales Contract shall serve to release Buyer from any of the obligations contained herein. 10. Entire Agreement. Both Seller and Buyer agree that this contract constitutes the sole and only agreement between them with respect to the abovedescribed Property and shall not be modified, except in writing, and shall be binding upon their heirs, successors and/or assigns. Time is of the essence. ACCEPTED: SELLER FURROW AUCTION COMPANY, AGENT DATE BUYER BUYER DATE Page 2 of 2 1022 Elm Street Knoxville, TN 37921 (865) 546-3206 1-800-4FURROW www.furrow.com