TERMS: 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 10% of the bid or $1,000.00, whichever is greater. A 5% buyer's premium will be added to the high bid to establish the total sales contract price. The balance is to be paid in full at closing. The contract will not be contingent upon financing. If property is residential and applicable, the Buyer will sign a Lead-Based Paint Inspection Waiver as part of the sales contract and the sale will be exempt from the Tennessee Residential Property Disclosure. SALE IS SUBJECT TO APPROVAL BY THE CITY COUNCIL OF KNOXVILLE. In no event shall the City of Knoxville or Powell Auction & Realty, LLC be liable for any indirect, incidental, consequential, special or exemplary damages or lost profits, even if Knoxville City has been advised of the possibility of such damages. REAL ESTATE TAXES START AT CLOSING FOR BUYER. Quit Claim Deed closing will take place within 30-60 days from the City Council approval. Buyer will be advised as to the day and location of closing. The City of Knoxville Law Department will be conducting the closings. Seller to furnish a QUIT CLAIM DEED only. Buyer is responsible for the cost of recording the deed. BUYER UNDERSTANDS AND ACKNOWLEDGES THAT THE PROPERTIES WERE ACQUIRED BY THE CITY OF KNOXVILLE FROM A TAX SALE AND TITLE INSURANCE WILL NOT BE AVAILABLE.

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 snipping.  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 Hrs after being contacted by Powell Auction & Realty LLC.

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 information is deemed reliable, but not guaranteed, buyer to verify ALL information, to their satisfaction before bidding.