SOLD | $850,025 | 4555 Redwood Road | Cosby, TN 37722 | Home, 3 Cabins & 42 acres

Date: 04/07/2022

Time: 12:00PM (Noon)

Location: Online Bidding Only

Office: Knoxville

Agent: Kenny Phillips - #2385 | Phillip Hopper - #6709

 Online Only Bankruptcy Real Estate Auction
4555 Redwood Drive | Cosby, TN 37722

+/- 42.77 acres with home, 3 cabins, creek frontage & waterfall views

AUCTION CANCELED - BANKRUPTCY TRUSTEE HAS ACCEPTED A PRE-AUCTION OFFER

SOLD BY THE ORDER OF THE UNITED STATES BANKRUPTCY COURT FOR THE EASTERN DISTRICT OF TENNESSEE NORTHEAST DIVISION AT KNOXVILLE
CASE NO. 3:20-bk-32391-SHB

Peace and serenity surround this property with the sounds and views of Caney Creek and the waterfall on the property. This setting allows you to have the feels of hiking in the Great Smoky Mountains without having to leave your own property. Located in the Catons Grove community of Cosby and Cocke County. The main home on the property once served as the post office, one cabin was a mill, one was the community general store, and the third was a former horse barn. This property could make an excellent wedding/event venue, cabin or tiny home development, or possible campground. Endless possibilities surrounding this breathtaking property.


COCKE COUNTY
PARCEL/TAX IDs

128  004.00
120  068.01

YEARLY
PROPERTY TAXES
$1,805.76
LOT SIZE
+/- 42.77 acres
(2 tracts offered as a whole)

DETAILS
Home, 3 Cabins &
2-car Detached Garage

MAIN HOUSE:

  • Originally was the post office for the community
  • Approx. 2750 SF | 1680 SF Main Level | 1070 SF Upstairs
  • Main level master suite with full bathroom
  • Half bathroom on main level
  • Upstairs with 2 Bedrooms and 1 full Bathroom
  • Kitchen with large pantry (kitchen is in need of finishing remodel)
  • Living room with fireplace
  • Covered front porch running the length of the house
  • Central heat & air

CABIN 1:

  • Originally "Ed's Mill"
  • 2 Bedrooms | 1 Bathroom
  • Kitchen/Living Room combination
  • Large window looking at waterfall
  • Fireplace
  • Covered front porch
  • Gorgeous old pine floors
  • Covered back porch overlooking Caney Creek and the waterfall
  • Central heat & air

CABIN 2:

  • Originally the community general store
  • Walk bridge from yard going across the creek to the rear of the cabin
  • Large deck off of the 2nd level and deck beside the creek - both overlooking the creek and looking toward the waterfall
  • Covered front porch and side porch that looks over creek
  • Central heat & air
  • Main level:
    • Living room with dining room area, fireplace and pine floors
    • Full bathroom
    • Kitchen with breakfast nook and door leading to side porch
  • 2nd level:
    • Sitting area
    • Full bathroom with walk-in shower
    • 2 bedrooms - both with doors leading to large deck looking at creek and waterfall
  • 3rd level:
    • Loft style bedroom
    • Tons of natural light
    • 1/2 Bathroom 

CABIN 3:

BANKRUPTCY REAL ESTATE TERMS: Powell Auction will email winning bidder the sales contract within 24 hours of sale conclusion.. The successful high bidder on this property will be required to sign the Real Estate Purchase Agreement immediately upon conclusion of the bidding and will make an earnest money deposit of ten percent (10%) of the total sales price. A ten percent (10%) buyer’s premium will be added to the high bid to establish the total sales price. The balance is to be paid in full at Trustee's Deed closing within 30 days, unless otherwise specified. No Extensions. Buyer is to obtain his/her own financing. The contract will not be contingent upon financing, inspections or any other contingencies.
M & M Title Company to conduct Closing. Property to be transferred with a Trustee's Deed. Seller will provide deed ONLY. Buyer is responsible for ALL CLOSING COSTS, title opinion, title insurance & recording fees. Buyer is responsible for ALL current & delinquent property taxes, fees & any penalties. Buyer is responsible for ALL HOA fees, transfer fees, membership fees, if applicable. Buyer is to obtain his/her own financing. Closing to occur by May 9th, 2022.
Powell Auction & Realty LLC and its auctioneer(s) and employee(s) are representing the seller(s) as the sellers Agent(s). All properties are sold “AS IS, WHERE IS and WITH ALL FAULTS”, without any warranties expressed, implied or guarantees of any kind. Agent represents the seller only and does not inspect properties on bidder’s behalf. All measurements, square footage & age are approximate and not guaranteed. Seller and or Agent makes no warranty as to accuracy of information. All information is deemed reliable, but not guaranteed, buyer to verify ALL information, to their satisfaction before bidding. Tennessee Residential Property Exemption and Lead-Based Paint Waiver will be part of the sales contract. ***The Bankruptcy Trustee and Powell Auction & Realty reserves the right to withdraw, postpone, or cancel the auction without notice, at any time.***
ONLINE AUCTION TERMS: Thank you for participating in this Powell Auction & Realty LLC Online Auction. It is important that you familiarize yourself with these terms & conditions of Sale. If you do not agree with any of the terms and conditions stated, DO NOT BID. You will be bound by these terms and conditions. Good luck and good bidding. Agent/Auctioneer may withdraw, extend, or rearrange any property and or item(s) at their sole discretion at any time, without notice and will not be liable for any computer, internet or website malfunctions. Bidding may extend, if bids are placed within the last minute, to prevent bid sniping. Powell Auction & Realty LLC will have up to 7 DAYS to provide the Buyer with any documents to be signed, after the auction has ended. Payment must be made within 48 Hours after being contacted by Powell Auction & Realty LLC. All properties are sold “AS IS, WHERE IS and WITH ALL FAULTS”, without any warranties expressed or implied or guarantees of any kind. Agent represents the seller only and does not inspect properties on bidder’s behalf. All information is deemed reliable, but not guaranteed, buyer to verify ALL information, to their satisfaction before bidding.
SOFT CLOSING: The Auctioneer’s online auctions are designed to mimic traditional “live” auction. For this reason, The Soft close will allow extended bidding until no bids are placed for one minute. 10% Buyers Premium is added to all bids to establish total purchase price. If a bid is placed within last minute additional minutes will be added to ensure everyone gets time to place their bid.                                         
New Bidders, please Pre-Register, we will have to approve you to Bid!