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OPERA HOUSE RESTAURANT ONLINE REAL ESTATE AUCTION
Listing ID#: 823963
| Sale Location |
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MARTIN, TN 38237 |
| Sale Dates and Times |
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| Bidding Ends: Tuesday Dec 2 |
| Sale Type |
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 Online Auction
VIEW ONLINE CATALOG |
| Company Information |
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Alexander Auctions & Real Estate Sales Contact: Marvin E. Alexander Phone: (731) 587-4244 Email: alexanderauctions@frontiernet.net Website: www.AlexanderAuctions.com EstateSale.com ID#: 9919 View company information and listings |
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| Listing Terms and Conditions | |||||||||||||||||||||
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ON LINE AUCTION OPERA HOUSE RESTAURANT 214 SOUTH LINDELL STREET, MARTIN, TN 38237 Real Estate Auction ~ GENERAL AUCTION TERMS AND CONDITIONS Extend All Dynamic Bidding Auction BIDDING ENDS TUESDAY, DECEMBER 2ND, 2025 @ 12 NOONBIDDERS MUST REGISTER WITH ALEXANDER AUCTIONS & REAL ESTATE SALES
BIDDERS SHOULD REVIEW ALL ONLINE TERMS PRIOR TO BIDDING! 1. THE PROPERTY LISTED AND DESCRIBED ON THE ATTACHED LIST WILL BE OFFERED UNDER THE FOLLOWING TERMS AND CONDITIONS OF SALE, WHICH TERMS AND CONDITIONS OF SALE AND DESCRIPTIONS OF ITEMS LISTED ON THE ATTACHED, MAY BE AMENDED, UPDATED OR ALTERED AT THE TIME AND DURING THE SALE BY THE AUCTION COMPANY.
2. THESE TERMS AND CONDITIONS OF SALE AND ANY ANNOUNCEMENTS FROM THE AUCTION COMPANY SHALL BE BINDING ON ANY BIDDER, WHETHER PRESENT, REPRESENTED BY AN AGENT OR ABSENTEE BIDDER. BUYERS ARE BOUND BY THESE TERMS AND CONDITIONS OF SALE.
3. tTERMS OF SALE: ALL PROPERTY IS SOLD “AS-IS’ AND ‘WHERE-IS’ AND NEITHER ALEXANDER AUCTIONS & REAL ESTATE SALES NOR THE SELLER MAKES ANY EXPRESS OR IMPLIED WARRANTY OR REPRESENTATION OF ANY KIND OR NATURE WITH RESPECT TO THE PROPERTY BEING SOLD. IN NO EVENT SHALL ALEXANDER AUCTIONS & REAL ESTATE SALES OR THE SELLER BE RESPONSIBLE FOR THE CORRECTNESS OF OR BE DEEMED TO HAVE MADE ANY REPRESENTATION OR WARRANTY OF MERCHANTABILITY, FITNESS FOR PURPOSE, DESCRIPTION, SIZE, GENUINENESS, YEAR OF MANUFACTURE, ATTRIBUTION, PROVENANCE OR CONDITION CONCERNING THE PROPERTY OR ANY WARRANTY THAT ANY ITEM COMPLIES WITH ANY APPLICABLE FEDERAL OR STATE LAWS. NO STATEMENT SET FORTH IN THE ATTACHED LIST OR MADE AT THE SALE OR IN THE BILL OF SALE OR INVOICE OR ELSEWHERE, WHETHER ORAL OR WRITTEN, SHALL BE DEEMED SUCH A WARRANTY OR REPRESENTATION OR AN ASSUMPTION OF LIABILITY. ALEXANDER AUCTIONS & REAL ESTATE SALES MAKES NO REPRESENTATION OR WARRANTY AS TO THE ACCURACY OF THE DESCRIPTIONS OR REPRESENTATIONS WHICH WERE PROVIDED BY THE SELLER AND ARE LISTED ON THE ATTACHED OR AS TO THE CONDITION OF THE ITEM
4. ALEXANDER AUCTIONS AND REAL ESTATE SALES HAS BEEN COMMISSIONED BY JOE AND EDITH ADCOCK TO SELL THIS PROPERTY AT PUBLIC AUCTION.
5. REAL ESTATE CONSISTS OF BRICK BUILDING AND LOT IN WEAKLEY COUNTY, TENNESSEE. THE BUILT-IN BAR, CHECK OUT COUNTER, WALK-IN COOLER AND FREEZER, THE VENT HOOD AND ANSUL FIRE COMPRESSOR SYSTEM IN THE KITCHEN WILL REMAIN WITH THE BUILDING.
6. SOME RESTAURANT EQUIPMENT AND FIXTURES ARE ATTACHED TO THE BUILDING. THIS EQUIPMENT WILL SELL SEPARATE FROM THE BUILDING AND WILL BE REMOVED. NO REPAIRS WILL BE MADE FOR SCREW HOLES OR CONNECTIONS.
7. PROPERTY TAX MAP 072I, GROUP L, PARCEL 013.00 ASSESSOR’S OFFICE WEAKLEY COUNTY, TENN. 38313
8. 2025 PROPERTY TAXES: STATE – COUNTY: $ 3,657.00 – CITY OF MARTIN: $4,136.00
9. SURVEY COST: PURCHASER HAS THE RIGHT TO HAVE A SURVEY COMPLETED AT THEIR EXPENSE IF THEY DESIRE..
10. CONDITIONS OF SALE: PROPERTY IS BEING OFFERED IN AN ONLINE AUCTION. THIS AUCTION HAS AN EXTEND-ALL FEATURE.
11. BIDDER SHOULD REVIEW THESE TERMS, THE SALES & PURCHASE AGREEMENT (CONTRACT), AND OTHER EXHIBITS POSTED ONLINE AND IN THE DUE DILIGENCE REPORT.
12. BUYER’S PREMIUM: A 10% BUYER'S PREMIUM WILL BE ADDED TO THE FINAL BID ON THE REAL ESTATE TO REACH THE TOTAL SALES PRICE AND TOTAL CONTRACT PRICE.
13. BIDDERS AND BUYERS MUST AGREE TO THESE AUCTION TERMS & CONDITIONS AND EXHIBITS INCLUDED WITH THE TERMS ONLINE BEFORE BIDDING. YOUR ACCEPTANCE OF THE TERMS AND CONDITIONS AND EXHIBITS ARE ACCEPTED AND APPROVED BY YOUR REGISTERING FOR A BIDDER NUMBER.
14. PURCHASE AGREEMENT: AFTER THE CLOSE OF THE AUCTION, THE SUCCESSFUL BIDDER WILL BE EMAILED A SALES AND PURCHASE AGREEMENT/CONTRACT TO BE SIGNED AND RETURNED TO ALEXANDER AUCTIONS & REAL ESTATE SALES WITHIN 24 HOURS OF COMPLETION OF THE AUCTION, ALONG WITH THE REQUIRED EARNEST MONEY DEPOSIT.
15. EARNEST MONEY: THE SUCCESSFUL BIDDER IS REQUIRED TO MAKE AN EARNEST MONEY DEPOSIT OF 15% OF THE TOTAL SALES PRICE AND CONTRACT PRICE OF THE REAL ESTATE, WITHIN 24 HOURS AFTER THE AUCTION CLOSES, WHEN THE PURCHASE AGREEMENT IS SIGNED. EARNEST MONEY IS NON-REFUNDABLE.
16. EARNEST MONEY PAYMENT: EARNEST MONEY PAYABLE BY CASH, WIRE TRANSFER, CASHIER’S CHECK OR PERSONAL CHECK WITH CURRENT BANK LETTER OF GUARANTY MADE TO ALEXANDER AUCTIONS. SEE SAMPLE COPY OF BANK LETTER OF GUARANTY AT WEBSITE ONLINE. NO CREDIT CARD/DEBIT CARD PAYMENTS AND NO LETTERS OF INTENT ACCEPTED FOR PAYMENT.
17. CASH OFFER: BUYER(S) MUST BE PREPARED TO MAKE A CASH OFFER. THERE ARE NO CONTINGENCIES TO THIS SALE (I.E., FINANCING, APPRAISAL, REPAIRS, OR INSPECTIONS). THEREFORE, YOU SHOULD BE PRE-QUALIFIED BY A LENDER PRIOR TO BIDDING IF YOU REQUIRE FINANCING. THIS PROPERTY IS BEING SOLD FOR CASH “AS-IS, WHERE-IS” WITH A CLOSING DEADLINE.
18. CLOSING DATE: BALANCE OF THE PURCHASE PRICE SHALL BE DUE ON OR BEFORE DECEMBER 31ST , 2025.
19. FAILURE TO CLOSE AND PAY THE BALANCE DUE AT CLOSING WILL REQUIRE BUYER TO FORFEIT THE EARNEST MONEY, BUYER IS SUBJECT TO THE ALL THESE TERMS AND CONDITIONS AND ANY OTHER TERMS INCLUDED IN THE PURCHASE AGREEMENT.
20. LIQUIDATED DAMAGES: SUCCESSFUL BIDDERS NOT EXECUTING AND RETURNING THEIR PURCHASE AGREEMENT ALONG WITH EARNEST MONEY DEPOSIT WITHIN FORTY-EIGHT (48) HOURS OF THE CONCLUSION OF THE AUCTION WILL BE CONSIDERED IN DEFAULT. IF YOUR CLOSING IS DELAYED FOR ANY REASON, BY YOU, AS PURCHASER, OR OTHER PARTIES WORKING ON YOUR BEHALF, INCLUDING ANY LENDER YOU INVOLVE, YOU MAY BE DECLARED IN BREACH OF THIS CONTRACT, FORFEIT ALL DEPOSITS MADE AND COULD ADDITIONALLY BE LIABLE FOR ANY AND ALL COST INCURRED BY SELLER AND ALEXANDER AUCTIONS AND REAL ESTATE SALES INCURRED IN A SUBSEQUENT RESALE OF THE PROPERTY. IF SUCH ACTION OCCURS, ALEXANDER AUCTIONS AND REAL ESTATE SALES HEREBY HAS THE RIGHT TO DISPERSE THE EARNEST MONEY AS STATED IN THE PURCHASE AGREEMENT AND THE BUYER HAS NO CLAIMS TO SUCH MONEY OR PROPERTY BEING SOLD. LIQUIDATED DAMAGES ARE TO COVER COST OF AUCTION, COST INCURRED BY SELLER, LABOR COST AND ADDITIONAL COST OF THE AUCTION NOT DEFINED IN THIS AGREEMENT. THESE LIQUIDATED DAMAGES DO NOT RESTRICT THE SELLER FROM SUING THE BUYER FOR PERFORMANCE DAMAGES AND/OR ANY ADDITIONAL DAMAGES THE SELLER SUFFERS BY THE DEFAULT OF THE BUYER.
21. COMPLIANCE WITH THE TERMS OF SALE: SUCCESSFUL BIDDERS AND OR BUYERS NOT EXECUTING AND RETURNING THE CONTRACT WITH EARNEST MONEY DEPOSIT WITHIN 48 HOURS OF THE CONCLUSION OF THE AUCTION WILL BE CONSIDERED IN DEFAULT. IN THE EVENT A WINNING BIDDER AND OR BUYER FAILS TO SUBMIT THE SIGNED PURCHASE AGREEMENT (CONTRACT) FOR SALE OF REAL ESTATE AND EARNEST MONEY DEPOSIT, THE WINNING BIDDER AND OR BUYER SHALL PAY TO ALEXANDER AUCTIONS ANY DAMAGES, AN AMOUNT EQUAL TO THE BUYER’S PREMIUM OR COMMISSION PERCENTAGE AS SET FORTH IN SAID CONTRACT, AND ANY AND ALL EXPENSES INCURRED BY THE SAID ALEXANDER AUCTIONS FOR SAID AUCTION. SHOULD BUYER’S EARNEST MONEY CHECK BE RETURNED FOR ANY REASON WHATSOEVER, THIS SHALL CONSTITUTE AN ITEM OF DEFAULT, AND IN ADDITION TO THE REMEDIES PREVIOUSLY STATED HEREINABOVE, BUYER SHALL ALSO PAY AN ADDITIONAL PENALTY OF FIVE PERCENT (5%) OF THE EARNEST MONEY CHECK TO ALEXANDER AUCTIONS. BUYER SHALL ALSO PAY A REASONABLE ATTORNEY’S FEE AND COSTS INCURRED IN THE COLLECTION OF THESE MONIES OWED BY BUYER AS A RESULT OF BUYER’S DEFAULT. BUYER SHALL ALSO PAY THE SELLER ANY DAMAGES CAUSED BY SAID BREACH OF CONTRACT, INCLUDING ATTORNEY’S FEES AND COSTS. THIS SHALL NOT PRECLUDE THE SELLER FROM SUING FOR SPECIFIC PERFORMANCE OF THE CONTRACT OF SALE, IN ADDITION TO SAID DAMAGES. IT IS SPECIFICALLY UNDERSTOOD AND AGREED BY AND BETWEEN THE SELLER AND ALEXANDER AUCTIONS THAT IN THE EVENT THE BUYER SHOULD DEFAULT IN THE TERMS OF THIS CONTRACT IN ANY MANNER WHATSOEVER, THE EARNEST MONEY, OR SUFFICIENT SUMS THEREFORE, SHALL BE PAID FIRST TO THE AGENT FOR THE BUYER’S PREMIUM OR COMMISSION PERCENTAGE, AND THE BALANCE, IF ANY, TO THE SELLER. ANY DISPUTES WILL BE TRIED IN A COURT OF JURISDICTION IN WEAKLEY COUNTY OR HENDERSON COUNTY, TENNESSEE. ALEXANDER AUCTIONS RESERVES THE RIGHT TO SELL TO THE NEXT HIGHEST QUALIFIED BIDDER OR ANY OTHER BIDDER OR BUYER IN THE EVENT THE SUCCESSFUL HIGH BIDDER AND OR BUYER DOES NOT COMPLY WITH THE TERMS OF THE SALE. BY BIDDING ON THE PROPERTY, BUYER AGREES TO ALL TERMS AND CONDITIONS SET FORTH. THE CONTRACT IS REQUIRED TO BE FULLY AND CORRECTLY COMPLETED, WITHOUT ANY MODIFICATIONS AND PROPERLY SIGNED. A CONTRACT THAT IS INCOMPLETE, INCORRECT, OR MODIFIED IN ANY RESPECT, IS CONSIDERED TO BE IN DEFAULT.
22. COMMISSION: PURCHASER AGREES TO PAY A 10% BUYERS PREMIUM OF THE BID PRICE UPON CLOSING, WHICH IS EQUAL TO THE AGREED UPON COMMISSION BETWEEN SELLER, AGENT AND PURCHASER. PURCHASER RECOGNIZES AND AGREES THAT THE 10% PREMIUM PAID AS COMMISSION FOR THIS TRANSACTION DOES NOT CONSTITUTE PURCHASER REPRESENTATION.
23. POSSESSION OF THE REAL ESTATE WILL BE GIVEN AT CLOSING.
24. 2025 TAXES: TOTAL TAXES FOR 2025 WILL BE PRORATED AT CLOSING.
25. CLOSING DELAY: IF YOUR CLOSING IS DELAYED FOR ANY REASON, BY YOU, AS PURCHASER, OR OTHER PARTIES WORKING ON YOUR BEHALF, INCLUDING ANY LENDER YOU INVOLVE, YOU MAY BE DECLARED IN BREACH OF THIS CONTRACT, FORFEIT ALL DEPOSITS MADE AND COULD ADDITIONALLY BE LIABLE FOR ANY AND ALL COST INCURRED, IN A SUBSEQUENT RESALE OF THE PROPERTY, BY SELLER AND ALEXANDER AUCTIONS. IF SUCH ACTION OCCURS, ALEXANDER AUCTIONS HEREBY HAS THE RIGHT TO DISPERSE THE EARNEST MONEY IN THE PURCHASE AGREEMENT AND THE BUYER HAS NO CLAIMS TO SUCH MONEY OR PROPERTY BEING SOLD. LIQUIDATED DAMAGES ARE TO COVER THE AUCTIONEER’S COMMISSION, COST OF AUCTION, COST INCURRED BY SELLER, LABOR COST AND ADDITIONAL COST OF AUCTION AS NOT DEFINED IN THIS AGREEMENT. THESE LIQUIDATED DAMAGES DO NOT RESTRICT THE SELLER FROM SUING THE BUYER FOR PERFORMANCE DAMAGES AND/OR ANY ADDITIONAL DAMAGES THE SELLER SUFFERS BY THE DEFAULT OF THE BUYER.
26. TITLE: DEED TRANSFER WILL BE BY WARRANTY DEED SIGNED BY THE OWNERS.
27. INSPECTION: PROSPECTIVE PURCHASER(S) SHOULD INSPECT AND REVIEW THE PROPERTY TO BECOME FAMILIAR WITH THE PROPERTY BOUNDARY LINES AND THE PHYSICAL CONDITION OF THE IMPROVEMENTS AND COMPLETE THEIR OWN DUE DILIGENCE RESEARCH.
28. DEED DESCRIPTIONS: PROPERTY WILL BE SOLD ACCORDING TO THE CURRENT DEED DESCRIPTION DESCRIBED IN SELLER’S DEED IN EXHIBIT “A” ATTACHED TO THESE TERMS.
29. AGENCY DISCLOSURE: ALEXANDER AUCTIONS AND REAL ESTATE SALES AND ALL AGENTS WORKING AT THIS AUCTION ARE ACTING AS AN AGENT FOR THE SELLER.
30. BIDDING: NO ONE SHOULD MAKE A BID THAT HE/SHE DOES NOT WANT TO HONOR OR IS NOT FINANCIALLY ABLE TO HONOR.
31. CONTINGENCIES: NO PURCHASE IS CONTINGENT ON FINANCING, APPRAISALS, PROPERTY INSPECTIONS OR ANY OTHER CONTINGENCIES.
32. DUE DILIGENCE: ANY INFORMATION SUPPLIED IN THE TERMS AND CONDITIONS CONCERNING THE PROPERTY INFORMATION AND TAX AMOUNTS ARE SUPPLIED TO ACCOMMODATE THE PURCHASER(S). IT IS THE PURCHASER’S SOLE RESPONSIBILITY TO COMPLETE THEIR OWN DUE DILIGENCE SURVEY, RESEARCH, INSPECTION, CHECKING AND BID ACCORDING TO THEIR DUE DILIGENT SURVEY AND RESEARCH.
33. EASEMENTS: PROPERTY SELLS SUBJECT TO EXISTING EASEMENTS AND SUBJECT TO ANY RECORDED EASEMENTS.
34. RESTRICTIONS: REAL ESTATE SELLS SUBJECT TO ANY AND ALL EXISTING MATTER OF RECORDS, EASEMENTS, CITY, COUNTY AND STATE, BUILDING, USE OR ZONING LAWS AND RESTRICTIONS.
35. REAL ESTATE IS ZONED B-3 - IN MARTIN HISTORICIAL DISTRIST BY THE CITY OF MARTIN.
36. ENVIRONMENTAL ASSESSMENTS: SELLERS HAVE NOT REQUESTED NOR HAD ANY ENVIRONMENTAL ASSESSMENTS RUN ON THIS PROPERTY.
37. ENVIRONMENTAL DISCLOSURE: AUCTIONEER AND BROKER AND SELLERS ARE NOT EXPERT IN DETERMINING ENVIRONMENTAL HAZARDS AND HAZARDOUS MATERIAL. BUYERS ACCEPT THESE IMPROVEMENTS AND LAND IN ITS PRESENT CONDITION. BUYER AGREES TO HOLD HARMLESS ALEXANDER AUCTIONS & REAL ESTATE SALES, THE BROKER, AUCTIONEER AND THE SELLERS FROM ANY ENVIRONMENTAL HAZARDS AND FROM ANY CLAIMS IN CONNECTION WITH ENVIRONMENTAL HAZARDS.
OPERA HOUSE RESTAURANT ONLINE REAL ESTATE AUCTION
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OPERA HOUSE RESTAURANT ONLINE REAL ESTATE AUCTION
Online Only Auction                Sale Date(s)
Bidding Starts: Wednesday Nov 30 , 12:00 PM
Bidding Ends: Tuesday Dec 2 , Sale Location
MARTIN, TN 38237 Company
Alexander Auctions & Real Estate Sales
Contact: Marvin E. Alexander Phone: (731) 587-4244 Email: alexanderauctions@frontiernet.net Website: www.AlexanderAuctions.com Listing Terms and Conditions
ON LINE AUCTION OPERA HOUSE RESTAURANT 214 SOUTH LINDELL STREET, MARTIN, TN 38237 Real Estate Auction ~ GENERAL AUCTION TERMS AND CONDITIONS Extend All Dynamic Bidding Auction BIDDING ENDS TUESDAY, DECEMBER 2ND, 2025 @ 12 NOONBIDDERS MUST REGISTER WITH ALEXANDER AUCTIONS & REAL ESTATE SALES
BIDDERS SHOULD REVIEW ALL ONLINE TERMS PRIOR TO BIDDING! 1. THE PROPERTY LISTED AND DESCRIBED ON THE ATTACHED LIST WILL BE OFFERED UNDER THE FOLLOWING TERMS AND CONDITIONS OF SALE, WHICH TERMS AND CONDITIONS OF SALE AND DESCRIPTIONS OF ITEMS LISTED ON THE ATTACHED, MAY BE AMENDED, UPDATED OR ALTERED AT THE TIME AND DURING THE SALE BY THE AUCTION COMPANY.
2. THESE TERMS AND CONDITIONS OF SALE AND ANY ANNOUNCEMENTS FROM THE AUCTION COMPANY SHALL BE BINDING ON ANY BIDDER, WHETHER PRESENT, REPRESENTED BY AN AGENT OR ABSENTEE BIDDER. BUYERS ARE BOUND BY THESE TERMS AND CONDITIONS OF SALE.
3. tTERMS OF SALE: ALL PROPERTY IS SOLD “AS-IS’ AND ‘WHERE-IS’ AND NEITHER ALEXANDER AUCTIONS & REAL ESTATE SALES NOR THE SELLER MAKES ANY EXPRESS OR IMPLIED WARRANTY OR REPRESENTATION OF ANY KIND OR NATURE WITH RESPECT TO THE PROPERTY BEING SOLD. IN NO EVENT SHALL ALEXANDER AUCTIONS & REAL ESTATE SALES OR THE SELLER BE RESPONSIBLE FOR THE CORRECTNESS OF OR BE DEEMED TO HAVE MADE ANY REPRESENTATION OR WARRANTY OF MERCHANTABILITY, FITNESS FOR PURPOSE, DESCRIPTION, SIZE, GENUINENESS, YEAR OF MANUFACTURE, ATTRIBUTION, PROVENANCE OR CONDITION CONCERNING THE PROPERTY OR ANY WARRANTY THAT ANY ITEM COMPLIES WITH ANY APPLICABLE FEDERAL OR STATE LAWS. NO STATEMENT SET FORTH IN THE ATTACHED LIST OR MADE AT THE SALE OR IN THE BILL OF SALE OR INVOICE OR ELSEWHERE, WHETHER ORAL OR WRITTEN, SHALL BE DEEMED SUCH A WARRANTY OR REPRESENTATION OR AN ASSUMPTION OF LIABILITY. ALEXANDER AUCTIONS & REAL ESTATE SALES MAKES NO REPRESENTATION OR WARRANTY AS TO THE ACCURACY OF THE DESCRIPTIONS OR REPRESENTATIONS WHICH WERE PROVIDED BY THE SELLER AND ARE LISTED ON THE ATTACHED OR AS TO THE CONDITION OF THE ITEM
4. ALEXANDER AUCTIONS AND REAL ESTATE SALES HAS BEEN COMMISSIONED BY JOE AND EDITH ADCOCK TO SELL THIS PROPERTY AT PUBLIC AUCTION.
5. REAL ESTATE CONSISTS OF BRICK BUILDING AND LOT IN WEAKLEY COUNTY, TENNESSEE. THE BUILT-IN BAR, CHECK OUT COUNTER, WALK-IN COOLER AND FREEZER, THE VENT HOOD AND ANSUL FIRE COMPRESSOR SYSTEM IN THE KITCHEN WILL REMAIN WITH THE BUILDING.
6. SOME RESTAURANT EQUIPMENT AND FIXTURES ARE ATTACHED TO THE BUILDING. THIS EQUIPMENT WILL SELL SEPARATE FROM THE BUILDING AND WILL BE REMOVED. NO REPAIRS WILL BE MADE FOR SCREW HOLES OR CONNECTIONS.
7. PROPERTY TAX MAP 072I, GROUP L, PARCEL 013.00 ASSESSOR’S OFFICE WEAKLEY COUNTY, TENN. 38313
8. 2025 PROPERTY TAXES: STATE – COUNTY: $ 3,657.00 – CITY OF MARTIN: $4,136.00
9. SURVEY COST: PURCHASER HAS THE RIGHT TO HAVE A SURVEY COMPLETED AT THEIR EXPENSE IF THEY DESIRE..
10. CONDITIONS OF SALE: PROPERTY IS BEING OFFERED IN AN ONLINE AUCTION. THIS AUCTION HAS AN EXTEND-ALL FEATURE.
11. BIDDER SHOULD REVIEW THESE TERMS, THE SALES & PURCHASE AGREEMENT (CONTRACT), AND OTHER EXHIBITS POSTED ONLINE AND IN THE DUE DILIGENCE REPORT.
12. BUYER’S PREMIUM: A 10% BUYER'S PREMIUM WILL BE ADDED TO THE FINAL BID ON THE REAL ESTATE TO REACH THE TOTAL SALES PRICE AND TOTAL CONTRACT PRICE.
13. BIDDERS AND BUYERS MUST AGREE TO THESE AUCTION TERMS & CONDITIONS AND EXHIBITS INCLUDED WITH THE TERMS ONLINE BEFORE BIDDING. YOUR ACCEPTANCE OF THE TERMS AND CONDITIONS AND EXHIBITS ARE ACCEPTED AND APPROVED BY YOUR REGISTERING FOR A BIDDER NUMBER.
14. PURCHASE AGREEMENT: AFTER THE CLOSE OF THE AUCTION, THE SUCCESSFUL BIDDER WILL BE EMAILED A SALES AND PURCHASE AGREEMENT/CONTRACT TO BE SIGNED AND RETURNED TO ALEXANDER AUCTIONS & REAL ESTATE SALES WITHIN 24 HOURS OF COMPLETION OF THE AUCTION, ALONG WITH THE REQUIRED EARNEST MONEY DEPOSIT.
15. EARNEST MONEY: THE SUCCESSFUL BIDDER IS REQUIRED TO MAKE AN EARNEST MONEY DEPOSIT OF 15% OF THE TOTAL SALES PRICE AND CONTRACT PRICE OF THE REAL ESTATE, WITHIN 24 HOURS AFTER THE AUCTION CLOSES, WHEN THE PURCHASE AGREEMENT IS SIGNED. EARNEST MONEY IS NON-REFUNDABLE.
16. EARNEST MONEY PAYMENT: EARNEST MONEY PAYABLE BY CASH, WIRE TRANSFER, CASHIER’S CHECK OR PERSONAL CHECK WITH CURRENT BANK LETTER OF GUARANTY MADE TO ALEXANDER AUCTIONS. SEE SAMPLE COPY OF BANK LETTER OF GUARANTY AT WEBSITE ONLINE. NO CREDIT CARD/DEBIT CARD PAYMENTS AND NO LETTERS OF INTENT ACCEPTED FOR PAYMENT.
17. CASH OFFER: BUYER(S) MUST BE PREPARED TO MAKE A CASH OFFER. THERE ARE NO CONTINGENCIES TO THIS SALE (I.E., FINANCING, APPRAISAL, REPAIRS, OR INSPECTIONS). THEREFORE, YOU SHOULD BE PRE-QUALIFIED BY A LENDER PRIOR TO BIDDING IF YOU REQUIRE FINANCING. THIS PROPERTY IS BEING SOLD FOR CASH “AS-IS, WHERE-IS” WITH A CLOSING DEADLINE.
18. CLOSING DATE: BALANCE OF THE PURCHASE PRICE SHALL BE DUE ON OR BEFORE DECEMBER 31ST , 2025.
19. FAILURE TO CLOSE AND PAY THE BALANCE DUE AT CLOSING WILL REQUIRE BUYER TO FORFEIT THE EARNEST MONEY, BUYER IS SUBJECT TO THE ALL THESE TERMS AND CONDITIONS AND ANY OTHER TERMS INCLUDED IN THE PURCHASE AGREEMENT.
20. LIQUIDATED DAMAGES: SUCCESSFUL BIDDERS NOT EXECUTING AND RETURNING THEIR PURCHASE AGREEMENT ALONG WITH EARNEST MONEY DEPOSIT WITHIN FORTY-EIGHT (48) HOURS OF THE CONCLUSION OF THE AUCTION WILL BE CONSIDERED IN DEFAULT. IF YOUR CLOSING IS DELAYED FOR ANY REASON, BY YOU, AS PURCHASER, OR OTHER PARTIES WORKING ON YOUR BEHALF, INCLUDING ANY LENDER YOU INVOLVE, YOU MAY BE DECLARED IN BREACH OF THIS CONTRACT, FORFEIT ALL DEPOSITS MADE AND COULD ADDITIONALLY BE LIABLE FOR ANY AND ALL COST INCURRED BY SELLER AND ALEXANDER AUCTIONS AND REAL ESTATE SALES INCURRED IN A SUBSEQUENT RESALE OF THE PROPERTY. IF SUCH ACTION OCCURS, ALEXANDER AUCTIONS AND REAL ESTATE SALES HEREBY HAS THE RIGHT TO DISPERSE THE EARNEST MONEY AS STATED IN THE PURCHASE AGREEMENT AND THE BUYER HAS NO CLAIMS TO SUCH MONEY OR PROPERTY BEING SOLD. LIQUIDATED DAMAGES ARE TO COVER COST OF AUCTION, COST INCURRED BY SELLER, LABOR COST AND ADDITIONAL COST OF THE AUCTION NOT DEFINED IN THIS AGREEMENT. THESE LIQUIDATED DAMAGES DO NOT RESTRICT THE SELLER FROM SUING THE BUYER FOR PERFORMANCE DAMAGES AND/OR ANY ADDITIONAL DAMAGES THE SELLER SUFFERS BY THE DEFAULT OF THE BUYER.
21. COMPLIANCE WITH THE TERMS OF SALE: SUCCESSFUL BIDDERS AND OR BUYERS NOT EXECUTING AND RETURNING THE CONTRACT WITH EARNEST MONEY DEPOSIT WITHIN 48 HOURS OF THE CONCLUSION OF THE AUCTION WILL BE CONSIDERED IN DEFAULT. IN THE EVENT A WINNING BIDDER AND OR BUYER FAILS TO SUBMIT THE SIGNED PURCHASE AGREEMENT (CONTRACT) FOR SALE OF REAL ESTATE AND EARNEST MONEY DEPOSIT, THE WINNING BIDDER AND OR BUYER SHALL PAY TO ALEXANDER AUCTIONS ANY DAMAGES, AN AMOUNT EQUAL TO THE BUYER’S PREMIUM OR COMMISSION PERCENTAGE AS SET FORTH IN SAID CONTRACT, AND ANY AND ALL EXPENSES INCURRED BY THE SAID ALEXANDER AUCTIONS FOR SAID AUCTION. SHOULD BUYER’S EARNEST MONEY CHECK BE RETURNED FOR ANY REASON WHATSOEVER, THIS SHALL CONSTITUTE AN ITEM OF DEFAULT, AND IN ADDITION TO THE REMEDIES PREVIOUSLY STATED HEREINABOVE, BUYER SHALL ALSO PAY AN ADDITIONAL PENALTY OF FIVE PERCENT (5%) OF THE EARNEST MONEY CHECK TO ALEXANDER AUCTIONS. BUYER SHALL ALSO PAY A REASONABLE ATTORNEY’S FEE AND COSTS INCURRED IN THE COLLECTION OF THESE MONIES OWED BY BUYER AS A RESULT OF BUYER’S DEFAULT. BUYER SHALL ALSO PAY THE SELLER ANY DAMAGES CAUSED BY SAID BREACH OF CONTRACT, INCLUDING ATTORNEY’S FEES AND COSTS. THIS SHALL NOT PRECLUDE THE SELLER FROM SUING FOR SPECIFIC PERFORMANCE OF THE CONTRACT OF SALE, IN ADDITION TO SAID DAMAGES. IT IS SPECIFICALLY UNDERSTOOD AND AGREED BY AND BETWEEN THE SELLER AND ALEXANDER AUCTIONS THAT IN THE EVENT THE BUYER SHOULD DEFAULT IN THE TERMS OF THIS CONTRACT IN ANY MANNER WHATSOEVER, THE EARNEST MONEY, OR SUFFICIENT SUMS THEREFORE, SHALL BE PAID FIRST TO THE AGENT FOR THE BUYER’S PREMIUM OR COMMISSION PERCENTAGE, AND THE BALANCE, IF ANY, TO THE SELLER. ANY DISPUTES WILL BE TRIED IN A COURT OF JURISDICTION IN WEAKLEY COUNTY OR HENDERSON COUNTY, TENNESSEE. ALEXANDER AUCTIONS RESERVES THE RIGHT TO SELL TO THE NEXT HIGHEST QUALIFIED BIDDER OR ANY OTHER BIDDER OR BUYER IN THE EVENT THE SUCCESSFUL HIGH BIDDER AND OR BUYER DOES NOT COMPLY WITH THE TERMS OF THE SALE. BY BIDDING ON THE PROPERTY, BUYER AGREES TO ALL TERMS AND CONDITIONS SET FORTH. THE CONTRACT IS REQUIRED TO BE FULLY AND CORRECTLY COMPLETED, WITHOUT ANY MODIFICATIONS AND PROPERLY SIGNED. A CONTRACT THAT IS INCOMPLETE, INCORRECT, OR MODIFIED IN ANY RESPECT, IS CONSIDERED TO BE IN DEFAULT.
22. COMMISSION: PURCHASER AGREES TO PAY A 10% BUYERS PREMIUM OF THE BID PRICE UPON CLOSING, WHICH IS EQUAL TO THE AGREED UPON COMMISSION BETWEEN SELLER, AGENT AND PURCHASER. PURCHASER RECOGNIZES AND AGREES THAT THE 10% PREMIUM PAID AS COMMISSION FOR THIS TRANSACTION DOES NOT CONSTITUTE PURCHASER REPRESENTATION.
23. POSSESSION OF THE REAL ESTATE WILL BE GIVEN AT CLOSING.
24. 2025 TAXES: TOTAL TAXES FOR 2025 WILL BE PRORATED AT CLOSING.
25. CLOSING DELAY: IF YOUR CLOSING IS DELAYED FOR ANY REASON, BY YOU, AS PURCHASER, OR OTHER PARTIES WORKING ON YOUR BEHALF, INCLUDING ANY LENDER YOU INVOLVE, YOU MAY BE DECLARED IN BREACH OF THIS CONTRACT, FORFEIT ALL DEPOSITS MADE AND COULD ADDITIONALLY BE LIABLE FOR ANY AND ALL COST INCURRED, IN A SUBSEQUENT RESALE OF THE PROPERTY, BY SELLER AND ALEXANDER AUCTIONS. IF SUCH ACTION OCCURS, ALEXANDER AUCTIONS HEREBY HAS THE RIGHT TO DISPERSE THE EARNEST MONEY IN THE PURCHASE AGREEMENT AND THE BUYER HAS NO CLAIMS TO SUCH MONEY OR PROPERTY BEING SOLD. LIQUIDATED DAMAGES ARE TO COVER THE AUCTIONEER’S COMMISSION, COST OF AUCTION, COST INCURRED BY SELLER, LABOR COST AND ADDITIONAL COST OF AUCTION AS NOT DEFINED IN THIS AGREEMENT. THESE LIQUIDATED DAMAGES DO NOT RESTRICT THE SELLER FROM SUING THE BUYER FOR PERFORMANCE DAMAGES AND/OR ANY ADDITIONAL DAMAGES THE SELLER SUFFERS BY THE DEFAULT OF THE BUYER.
26. TITLE: DEED TRANSFER WILL BE BY WARRANTY DEED SIGNED BY THE OWNERS.
27. INSPECTION: PROSPECTIVE PURCHASER(S) SHOULD INSPECT AND REVIEW THE PROPERTY TO BECOME FAMILIAR WITH THE PROPERTY BOUNDARY LINES AND THE PHYSICAL CONDITION OF THE IMPROVEMENTS AND COMPLETE THEIR OWN DUE DILIGENCE RESEARCH.
28. DEED DESCRIPTIONS: PROPERTY WILL BE SOLD ACCORDING TO THE CURRENT DEED DESCRIPTION DESCRIBED IN SELLER’S DEED IN EXHIBIT “A” ATTACHED TO THESE TERMS.
29. AGENCY DISCLOSURE: ALEXANDER AUCTIONS AND REAL ESTATE SALES AND ALL AGENTS WORKING AT THIS AUCTION ARE ACTING AS AN AGENT FOR THE SELLER.
30. BIDDING: NO ONE SHOULD MAKE A BID THAT HE/SHE DOES NOT WANT TO HONOR OR IS NOT FINANCIALLY ABLE TO HONOR.
31. CONTINGENCIES: NO PURCHASE IS CONTINGENT ON FINANCING, APPRAISALS, PROPERTY INSPECTIONS OR ANY OTHER CONTINGENCIES.
32. DUE DILIGENCE: ANY INFORMATION SUPPLIED IN THE TERMS AND CONDITIONS CONCERNING THE PROPERTY INFORMATION AND TAX AMOUNTS ARE SUPPLIED TO ACCOMMODATE THE PURCHASER(S). IT IS THE PURCHASER’S SOLE RESPONSIBILITY TO COMPLETE THEIR OWN DUE DILIGENCE SURVEY, RESEARCH, INSPECTION, CHECKING AND BID ACCORDING TO THEIR DUE DILIGENT SURVEY AND RESEARCH.
33. EASEMENTS: PROPERTY SELLS SUBJECT TO EXISTING EASEMENTS AND SUBJECT TO ANY RECORDED EASEMENTS.
34. RESTRICTIONS: REAL ESTATE SELLS SUBJECT TO ANY AND ALL EXISTING MATTER OF RECORDS, EASEMENTS, CITY, COUNTY AND STATE, BUILDING, USE OR ZONING LAWS AND RESTRICTIONS.
35. REAL ESTATE IS ZONED B-3 - IN MARTIN HISTORICIAL DISTRIST BY THE CITY OF MARTIN.
36. ENVIRONMENTAL ASSESSMENTS: SELLERS HAVE NOT REQUESTED NOR HAD ANY ENVIRONMENTAL ASSESSMENTS RUN ON THIS PROPERTY.
37. ENVIRONMENTAL DISCLOSURE: AUCTIONEER AND BROKER AND SELLERS ARE NOT EXPERT IN DETERMINING ENVIRONMENTAL HAZARDS AND HAZARDOUS MATERIAL. BUYERS ACCEPT THESE IMPROVEMENTS AND LAND IN ITS PRESENT CONDITION. BUYER AGREES TO HOLD HARMLESS ALEXANDER AUCTIONS & REAL ESTATE SALES, THE BROKER, AUCTIONEER AND THE SELLERS FROM ANY ENVIRONMENTAL HAZARDS AND FROM ANY CLAIMS IN CONNECTION WITH ENVIRONMENTAL HAZARDS.
HISTORICAL DOWNTOWN BRICK BUILDING AND RESTUARANT EQUIPMENT 214 SOUTH LINDELL STREET - MARTIN, TN 38237
94 108 109 110 247 297 300 303 353 359 362 411 515 | |||||||||||||||||||||
