Spring City, TN Real Estate Auction

Date: 11/13/2021

Time: 10:30AM (ET)

Location: Bid Live or Online

Office: Knoxville

Agent: Kenny Phillips - #2385

Commercial and Residential Real Estate Auction
18972 Rhea County Highway | Spring City, TN 37381

Saturday, November 13th at 10:30AM (ET)

Thursday, November 11th from 1-5PM (ET)

Commercial and Residential Real Estate

+/- 27.32 acres total | 7 Buildings

+/- 21.67 acres of cleared pastureland - offered in 3 tracts

3 large showroom buildings with heat & air

Multiple offices | Billboard

Home & detached garage | Recently remodeled

 Hay barn | Gravel/aggregate storage areas | Tire & Repair workshop

+/- 478' of Rhea County Highway frontage 

LOT 1: +/- 8.49 acres
Cleared pastureland

LOT 2: +/- 7.13 acres
Cleared pastureland

LOT 3: +/- 6.05 acres
Cleared pastureland

LOT 4: +/- 5.08 acres
3 commercial buildings, 3 barns, billboard, and multiple sheds/carports
(Parcel/ Tax IDs: 042  025.06 & 042  025.08)

LOT 5: +/- 0.57 acre
House and detached garage
(Parcel/Tax ID: 042  025.07)

Buyer to pay $1,250.00 survey fee per tract on Tracts 1 - 4 and $500.00 survey fee on Tract 5

Sale conducted in conjunction with Ronnie Colyer Auction & Realty | 423-506-0990

Real Estate 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. 

Reliance Title of TN will conduct the closing.
Current taxes will be prorated at 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.  Property is being sold AS IS, sale is exempt from Tennessee property condition disclosure. Lead-based inspection period begins October 6th, 2021.

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 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 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.