Court Ordered Bankruptcy Real Estate Auction | Over 90 Acres in Meigs County | Decatur, TN 37322

Date: 07/14/2022

Time: 5:00PM

Location: 586 N Main Street, Decatur, TN 37322

Office: Knoxville

Agent: Kenny Phillips - #2385 | Phillip Hopper - #6709 | Ronnie Colyer - #1365

Court Ordered Bankruptcy Real Estate Auction

SOLD BY THE ORDER OF THE UNITED STATES BANKRUPTCY COURT FOR THE EASTERN DISTRICT OF TENNESSEE, SOUTHERN DIVISION
CASE NO. 1:19-bk-15184-SDR

BID LIVE OR ONLINE:
Thursday, July 14th at 5:00PM

ALL PROPERTIES TO BE SOLD FROM THE MEIGS COUNTY FAIRGROUNDS
Located adjacent to Meigs County Middle School
586 N Main Street, Decatur, TN 37322

ALL TRACTS SELLING ABSOLUTE TO THE HIGHEST BIDDER

Over 90 total acres sold in tracts and groupings

All properties are located in the Decatur area of Meigs County

Great development opportunities with these properties

Some are adjoining TVA property and just minutes from the Tennessee River

PROPERTY 1 | 452 HIGHWAY 30 W
DECATUR, TN 37322

+/- 9.2 acres

Adjoins TVA property

Public water and electricity available

Former mobile home site

Parcel/Tax ID: 036  007.02

PROPERTY 2 | HIGHWAY 30 W
DECATUR, TN 37322

+/- 31 acres

Comprised of Parcel/Tax IDs:
041  001.01, 041  003.00, and 041  011.01

Adjoins TVA property

Owner has been told that the property is eligible to apply for a dock permit, but no guarantees that a permit will be granted

PROPERTY 3 | RIVER ROAD
DECATUR, TN 37322

+/- 13.58 acres

Gorgeous views from property

Property includes Lot 8 of Morrison Road (Parcel 032  010.00)

Comprised of Parcel/Tax IDs:
032  002.04, 032  004.01, and Lot 8 of 032  010.00

Access from River Road and Morrison Road

PROPERTY 4 | RIVER ROAD
DECATUR, TN 37322

+/- 36.5 acres | Offered in 2 groups and as a whole

GROUP 1: Tracts 1-3 | +/-15.5 acres

GROUP 2: Tracts 4-7 | +/-21 acres

Current Parcel/Tax ID: 032  002.03

PROPERTY 5 | MORRISON ROAD
DECATUR, TN 37322

Lots 1-7 | +/- 4.34 acres | Offered as single lots and as a whole

These lots have been approved by the Meigs County planning commission

Ideal lots for single family homes, mobile homes or tiny houses

LOT 1: +/-0.67 acre

LOT 2: +/-0.63 acre

LOT 3: +/-0.63 acre

LOT 4: +/-0.60 acre

LOT 5: +/-0.60 acre

LOT 6: +/-0.61 acre

LOT 7: +/-0.60 acre

Portion of Current Parcel/Tax ID: 032  010.00

SALE CONDUCTED IN CONJUNCTION WITH:
Don Harris Auction Solutions | Don Harris, Auctioneer - Lic #2383 | 423-310-9788
Ronnie Colyer Auction & Realty | Ronnie Colyer, Auctioneer - Lic #1365 | 423-506-0990

Rural 1st

Real Estate Terms:
Powell Auction will email winning bidder  your contract. The successful high bidder on this property will be required to sign the Real Estate Sales Contract, Terms & Conditions and any other documents needed, upon conclusion of the bidding and will make an earnest money deposit of ten percent (10%) of the sales price. A ten percent (10%) buyer’s premium will be added to the high bid to establish the total sales price. US currency cash or approved check. The balance is to be paid in full at the deed closing. By bidding you are entering into a binding agreement.

Reliance Title will be conducting the closing.
Current taxes, will be prorated at the date of closing, unless otherwise specified. Seller to provide deed. Buyer is responsible for title opinion, title insurance & recording fees. Buyer is responsible for HOA requirements, transfer fees, membership fees, if applicable. Title company closing cost to be split between buyer & seller. Buyer is to obtain his/her own financing. Closing to occur by August 23rd, 2022.

The contract will not be contingent upon financing, inspections or any other contingencies.

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. **Powell Auction reserves the right to withdraw, without notice, any items in the auction at any time.**

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. We do not approve any international bidding. It is up to the auctioneer to approve or disapprove bidders.

New Bidders, please Pre-Register, we will have to approve you to Bid!