REAL ESTATE AUCTION
BIDDING TERMS & CONDITIONS

NOTE the type of deed to be transfered varies based off who owns the properties. Please take note prior to bidding.
Lots 19-24 are owned by Anderson County TN and will transfer using a quit claim deed.
Lot 13 is a court ordered auction and will require court confirmation. Once the court confirms the sale the buyer will have 30 days to close.


1. ANNOUNCEMENTS
All announcements made by the Auctioneer on the day of sale take precedence over prior advertisements or marketing materials.

2. AUCTION FIRM
JD's Realty & Auction, LLC is a licensed Tennessee real estate brokerage conducting this auction on behalf of the Seller. The seller may be an individual or a legal entity.

3. REGISTRATION
All bidders must register and be approved prior to bidding. By registering, bidders affirm they are financially capable of closing and agree to be legally bound by these Terms & Conditions.

4. AGENCY DISCLOSURE
JD's Realty & Auction represents the Seller exclusively. Buyers are encouraged to seek independent representation if they desire.

5. PROPERTY INSPECTION
Property is available for inspection by appointment. Buyers acknowledge they have conducted all desired inspections and are not relying upon Auctioneer representations.

6. AUCTION METHOD
This property is selling:
? Subject to Seller Confirmation (Reserve Auction)

If subject to confirmation, no contract is binding until Seller accepts the high bid, or in some cases if the court approves the sale, or the county commission approves the sale.

7. CONTRACT & EARNEST MONEY
High bidder shall execute the Purchase and Sale Agreement immediately and deliver a non-refundable earnest money deposit equal to 10% of the high bid at the conclusion of the auction by either check or wire transfer.

8. BUYER'S PREMIUM
A 10% Buyer's Premium will be added to the high bid to determine the Total Purchase Price.

9. CONTINGENCIES
The sale is not contingent upon financing, appraisal, inspections, or sale of Buyer's property, or any other contingency. Property sells AS-IS, WHERE-IS.

10. CONDITION OF PROPERTY
Property is sold AS-IS with no warranties expressed or implied.

11. CLOSING
Closing shall occur within 30 days of auction unless otherwise stated. Time is of the essence.

12. PRE-AUCTION OFFERS
Seller reserves the right to accept pre-auction offers or cancel/modify the auction.

13. DEFAULT
If Buyer defaults, earnest money shall be forfeited as liquidated damages. Seller may pursue additional remedies.

14. TECHNOLOGY DISCLAIMER
Auction Firm is not responsible for internet disruptions, platform errors, or missed bids due to technical failures.

15. BIDDER CONDUCT
Auctioneer reserves the right to reject bids, resolve disputes, and control bidding increments. Auctioneer's decisions are final.

16. BROKER PARTICIPATION
Cooperating brokers must register buyer in writing prior to contact and remain involved through closing to qualify for commission.

17. WIRE FRAUD WARNING
Buyers must independently verify wire instructions prior to sending funds.

18. FORCE MAJEURE
Auction Firm not liable for delays due to events beyond its control.

19. JURISDICTION
Governing law: State of Tennessee. Venue: Anderson County, Tennessee.

20. ACCEPTANCE
By registering and placing a bid, bidder acknowledges they have read, understand, and agree to these Terms & Conditions.

Terms and Conditions(Lots 19 - 24)

The properties offered in this auction are lots acquired by Anderson County through tax sales. All sales are subject to approval by Anderson County.
" Some properties will be announced as "sold" if they meet their reserve price during today's auction.
" For properties not meeting the reserve, the highest bid price will be presented to the Anderson County Commission for a decision to sell or deny the sale. �JD's Realty & Auction will notify all bidders of the result.
" Buyers should be prepared for this process and understand that a final sale may not be confirmed until after the commission meeting.
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Bidding and Sale Confirmation:
" This auction is being conducted subject to Anderson County's confirmation.
" The successful high bidder for each property will be required to sign a Real Estate Sales Contract and any other necessary documents immediately following the conclusion of bidding.
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Non-refundable Deposit:
" A non-refundable earnest money deposit equal to 10% of the bid price will be required from the successful bidder and must be made payable to JD's Realty & Auction at the conclusion of today's sale.
" For online bidders, payment must be completed at JD's Realty & Auction's office by 5:00 PM today via personal check, business check, or pre-arranged wire transfer. Contact our office for instructions, if needed.
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Buyer's Premium and Payment Terms:
" A 10% buyer's premium will be added to the high bid to establish the total sales contract price.
" Payments may be made by personal check, business check, or pre-arranged wire transfer.
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Closing Terms:
" The balance of the purchase price is to be paid in full at closing, which must occur within 30 days of the auction.
" Current year taxes will be prorated as of the date of closing.
" All buyers will receive a Quit Claim Deed from Anderson County.
Process for Obtaining the Deed:
" Beginning April 2nd, buyers may visit the Anderson County Mayor's Office to meet with Leean Tupper.
" Payment of the remaining balance will be made at the County Finance Office.
" Buyers will then proceed to the Legal Office to receive their Quit Claim Deed, and must be recorded at the Register of Deeds Office.
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Buyer's Responsibility:
" Buyer is responsible for all costs associated with obtaining title opinions, title insurance, and recording fees.
" Buyer will also be responsible for customary closing costs.
" Financing is to be secured by the buyer at their own expense. The sales contract is not contingent upon financing, inspections, or any other conditions.
" Buyer assumes all responsibility for any personal property left site post closing.
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Representation and Warranties
" JD's Realty & Auction and its agents represent the seller, Anderson County, exclusively.
" All properties are sold "AS-IS, WHERE-IS, and WITH ALL FAULTS," without any warranties or guarantees, whether expressed or implied, including but not limited to discrepancies in lot sizes, property boundaries, or other physical characteristics.
" Lot sizes have been obtained from the Register of Deeds or County Tax Assessor's records. No surveys have been conducted. Buyers agree to accept properties as-is and understand that actual lot dimensions may differ if a survey is conducted.
" Buyers are responsible for conducting their own due diligence prior to bidding.
Disclosures:
" Tennessee Residential Property Exemption Notification and Lead-Based Paint Disclosure Waiver (if applicable for structures built prior to 1978) will be included in the sales contract.
" A lead-based paint brochure and disclosure form will be provided for applicable properties.
" JD's Realty & Auction strongly encourages all bidders to seek legal advice or professional consultation prior to bidding, particularly when purchasing properties conveyed by Quit Claim Deed. Quit Claim Deeds may carry specific risks, including unresolved liens or title defects.
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Upcoming Multi-Property Real Estate Auction Event Live + Online Ballroom Event Event Name: East TN Property Auction Date & Time: Thursday, March 26 at 12:00 Noon Format: Live, in-person bidding + real-time online bidding Location: Online + Anderson County Chamber of Commerce Ballroom Properties Accepted: Residential homes, land, investment properties, unique or hard-to-price assets Open House Dates: Watch for dates coming soon for each lot! Lot 1: Sunday March 8th 2-4pm Lot 2 Sunday March 8th and then March the 22nd Starting at 2 pm. Lot 3: Lot can be viewed at any time. Lot 4: Sunday March 8th at 2pm. Lot 5-10 Drive out anytime Lot 11 Lot 12: Sunday March 15th at 2pm. Lot 13: Sunday March 22nd at 2pm. Lot 14 Sunday, March 15th at 2pm Lot 15 Lot 16 Lot 18 500 Old Furnace Rd Tellico Plains - Sat Mar 21st 12:00 Lot 19 Lot can be viewed at any time. Lot 20 Lot can be viewed at any time. Lot 21 Lot can be viewed at any time. Lot 22 Lot can be viewed at any time. Lot 23 Lot can be viewed at any time. Lot 24 Lot can be viewed at any time.