Online Only Absolute Real Estate Auction – 3 Knoxville Investment Properties

Date: 03/28/2017

Time: 12:00PM

Location: Online Bidding Only

Office: Knoxville

Agent: Kenny Phillips or Phillip Hopper


3 Knoxville Investment Properties



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1. 2725 Jefferson Avenue Knoxville, TN 37914

Approx. 768 SF 2 Bedrooms & 1 Bath Currently rented for $525.00 per month (month-to-month – tenant has been in house for 7 months) Tax Appraisal: $25,500.00 Total Taxes: $321.76 Parcel/Tax ID: 082ge016 Year Built: 1950 Lot Size: 50 x 150

2. 3326 Skyline Drive Knoxville, TN 37914

Approx. 976 SF 2 Bedrooms & 1 Bath Currently rented for $550.00 per month (month-to-month – tenant has been in house for 2 months) Tax Appraisal: $34,200.00 Total Taxes: $431.05 Parcel/Tax ID: 082ek003 Year Built: 1945 Lot Size: 60 x 232.89 IRR

3. 406 Elizabeth Avenue Knoxville, TN 37920

Approx. 780 SF 2 Bedrooms & 1 Bath Currently rented for $550.00 per month (Tenant has been in house since 2/2017. Lease expires 1/31/2018) Tax Appraisal: $34,300.00 Total Taxes: $432.73 Parcel/Tax ID: 109ae01401 Year Built: 1958 Lot Size: 44.98 x 107.78 IRR

TERMS: The successful high bidder on this property will be required to sign the Real Estate Sales Contract, Terms & Conditions, and any other documents needed immediately 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 contract price. US currency cash or approved check. The balance is to be paid in full at deed closing within 30 days. M&M Title to Conduct the Closing. Current taxes will be prorated at the the date of closing. Seller to provide deed. Buyer is responsible for title opinion, title insurance and recording fees. Customary closing costs to be split between the buyer and seller. Buyer is to obtain their own financing. The contract will not be contingent upon financing, inspections or any other contingencies. Powell Auction & Realty, LLC and its auctioneers and employees are representing the sellers as the sellers’ Agents. 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 and age are approximate and not guaranteed. Seller and/or Agent makes no warranty as to the accuracy of information. All information is deemed reliable, but not guaranteed. Buyer to verify ALL information to their satisfaction prior to bidding. Tennessee Residential Property Exemption Notification and Lead-Based Paint Disclosure waiver will be a part of the sales contract. Lead-based paint inspection begins March 19th, 2017.
ONLINE REAL ESTATE TERMS: Thank you for participating in a Powell Auction & Realty, LLC Online Auction. It is important that you familiarize yourself with the Terms and Conditions of the Sale. If you do not agree with any of the terms and conditions stated, PLEASE DO NOT BID or you will be bound by those Terms and Conditions. Good luck and good bidding. Auctioneer/Employees without notice may withdraw, extend or rearrange any property, and or item at their sole discretion at any time and will not be liable for any computer, internet or website malfunctions. Payment must be made within 24 Hours after being contacted by Powell Auction & Realty, LLC. 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. All properties are sold “AS IS, WHERE IS and WITH ALL FAULTS” with no financing, inspection or other contingencies to sale. Auctioneer represents the seller only and does not inspect properties on Bidder’s behalf.