COMMERCIAL BUILDING - 0N-LINE AUCTION
U.S. BANKRUPTCY COURT, CHAPTER 7, CASE NO. 13-12566
FEB. 7TH Through FEB. 25TH ~ 5:00 P.M.~ 2014
23 BROADWAY STREET, MCKENZIE, TN 38201

ALEXANDER AUCTIONS & REAL ESTATE SALES HAS BEEN COMMISSIONED MARIANNA WILLIAMS, TRUSTEE FOR ROBERT D. RADFORD & CHRISTIEN D. RADFORD, CHAPTER 7, CASE NO. 13-12566 TO SELL THIS REAL ESTATE IN AN ON-LINE AUCTION.

1. COMMERCIAL BUILDING AND LOT LOCATED AT 23 BROADWAY STREET, DOWNTOWN MCKENZIE, TN 38201.

2. REAL ESTATE IS LOCATED 4TH CIVIL DISTRICT OF CARROLL COUNTY, TN.

3. DEED DESCRIPTION:

BEING A LOT AND BUILDING LOCATED IN THE CITY OF MCKENZIE AND FURTHER DESCRIBED AS FOLLOWS: BOUNDED ON THE NORTH BY MOORE; ON THE SOUTH BY WRINKLE, ON THE EAST BY BROADWAY STREET, AND ON THE WEST BY AN ALLEY, SAID LOT BEING 25 FEET WIDE AND 81 FEET LONG, MORE OR LESS.

4. DEED REFERENCE: DEED BOOK 354, PAGE 126, REGISTERÂ’S OFFICE OF CARROLL COUNTY, TN

5. PROSPECTIVE PURCHASER(S) SHOULD REVIEW THE PROPERTY TO BECOME FAMILIAR WITH THE PROPERTY DIVISIONAL LINES. ADJOINING BUILDINGS HAVE COMMON WALLS.

6. MAP 012L, GROUP N, PARCEL 18.00, CARROLL COUNTY TAX ASSESSORS OFFICE.

7. DEED TRANSFER WILL BE BY TRUSTEE DEED. PURCHASER TO ASSUME THE DELINQUENT TAXES AND 2014 TAXES.

COUNTY: 2013 TAXES: APPROX. $350.66
COUNTY: 2012 TAXES: APPROX. 293.44 + PENALTY & INTEREST
CITY: 2013 TAXES: APPROX. $111.00
COUNTY: 2012 TAXES: APPROX. $128.00 +PENALTY & INTEREST

8. PROPERTY SELLS SUBJECT TO THE APPROVAL OF THE BANKRUPTCY JUDGE, UNITED STATES BANKRUPTCY COURT FOR WESTERN DISTRICT OF TENNESSEE, EASTERN DIVISION

9. POSSESSION OF PROPERTY WILL BE GIVEN UPON DELIVERY OF DEED.

BUYERÂ’S PREMIUM RATES

10. A 10% BUYER'S PREMIUM WILL BE ADDED TO THE FINAL BID ON REAL ESTATE TO REACH THE TOTAL SALES PRICE AND TOTAL CONTRACT PRICE BEING PAID FOR BY CASH, CASHIERÂ’S CHECK, CERTIFIED FUNDS, WIRE TRANSFER OR PERSONAL CHECK.

11. A 13% BUYERÂ’S PREMIUM WILL BE ADDED TO THE FINAL BID ON REAL ESTATE TO REACH THE TOTAL SALES PRICE AND TOTAL CONTRACT PRICE NOT BEING PAID FOR BY CASH, CASHIERÂ’S CHECK, CERTIFIED FUNDS, WIRE TRANSFER OR PERSONAL CHECK. WE ACCEPT VISA AND MASTER CARD ONLY.

REAL ESTATE TERMS:

12. THE SUCCESSFUL BIDDER SHALL BE REQUIRED TO DEPOSIT EARNEST MONEY OF $1,000.00 OR 20% OF THE CONTRACT PRICE - (WHICHEVER IS GREATER). BALANCE DUE WITHIN 30 DAYS UPON DELIVERY OF DEED. IN THE EVENT, COURT APPROVAL IS NOT RECEIVED WITHIN THIRTY DAYS, THE SALES CONTRACT WILL BE EXTENDED UNTIL 15 BANKING DAYS AFTER THE PURCHASE IS NOTIFIED THE COURT ORDER APPROVING THE SALE IS SIGNED.

13. EARNEST MONEY DEPOSIT SHALL BE PAYABLE ON OR BEFORE THURSDAY, FEBRUARY 27TH AT 4:00 P.M. AT WHICH TIME PURCHASER SHALL BE REQUIRED TO SIGN AN Â“AGREEMENT FOR PURCHASE & SALE OF REAL ESTATE PROPERTYÂ”.

14. PURCHASER SHALL MAKE THE EARNEST MONEY DEPOSIT AND SIGN Â“AGREEMENT FOR PURCHASE & SALE OF REAL ESTATE PROPERTYÂ” AT OFFICE OF ALEXANDER AUCTIONS & REAL ESTATE SALES, 239 UNIVERSITY STREET, MARTIN, TN 38237. OFFICE PHONE: (731) 587-4244.

15. PAYABLE BY CASH, CASHIERS CHECK OR PERSONAL CHECK WITH CURRENT BANK LETTER OF GUARANTEE MADE TO ALEXANDER AUCTIONS & REAL ESTATE SALES REQUIRED BY ALL PERSONS NOT PERSONALLY KNOWN BY AUCTION COMPANY TO ALEXANDER AUCTIONS & REAL ESTATE ESCROW.

16. THE INTERIOR OF THE BUILDING HAS BEEN DESTROYED BY FIRE.

17. PROPERTY AND IMPROVEMENTS ARE BEING SOLD IN THEIR PRESENT CONDITION. NO IMPROVEMENTS WILL BE MADE. THERE ARE NO WARRANTIES OR GUARANTEES EXPRESSED OR IMPLIED AS TO CONDITION OR FITNESS FOR A PARTICULAR PURPOSE OR PARTICULAR USE.

18. PURCHASER IS TO MAKE THEIR OWN INSPECTION OF THE BUILDING INCLUDING ROOF, WALLS & INTERIOR AND BID ACCORDING TO THEIR INSPECTION AND DUE DELINQUENT RESEARCH.

19. PURCHASER TO MAKE ALL REPAIRS. SELLER WILL NOT CLEAN OUT OR MAKE ANY REPAIRS.

20. NO ONE SHOULD MAKE A BID THAT HE/SHE DOES NOT WANT TO HONOR OR IS NOT FINANCIALLY ABLE TO HONOR. THERE IS NO CONTINGENCY IN THE CONTRACT SUBJECT TO THE PURCHASER OBTAINING LONG TERM FINANCING.

21. FAILURE TO PAY THE BALANCE DUE WILL REQUIRE YOU TO FORFEIT YOUR EARNEST MONEY AND BE SUBJECT TO ALL TERMS STATED IN THE CONTRACT.

22. PURCHASERS SHOULD CONTACT THEIR ATTORNEY TO COMPLETE THEIR TITLE OPINION IMMEDIATELY FOLLOWING THE AUCTION. CONTRACT DOES NOT PROVIDE FOR AN EXTENSION DUE TO AN ATTORNEY FAILING TO COMPLETE TITLE WORK OR YOUR LOAN CLOSING NOT BEING SET UP IN TIME TO MEET THE THIRTY (30) DAY CLOSING PERIOD. CONTACT YOUR ATTORNEY IMMEDIATELY!

23. ALL PROPERTY SELLS SUBJECT TO EXISTING EASEMENTS.

24. PROPERTY IS ZONED B-3, CENTRAL BUSINESS DISTRICT WITH H-D, HISTORICAL DISTRICT OVERLAY. A BUILDING IN THE HISTORIC DISTRICT CANNOT BE USED FOR WAREHOUSING.

25. BUILDING MUST CONTAIN A BUSINESS ON THE LOWER FLOOR.

26. HISTORIC DISTRICT ALLOWS THE OPTION OF HAVING AN APARTMENT UPSTAIRS.

27. PROPERTY SELLS SUBJECT TO ANY CITY, COUNTY AND STATE ZONING RESTRICTIONS THAT EXIST.

28. PURCHASER(S) ARE INFORMED THAT THE SELLERS AND ALEXANDER AUCTIONS & REAL ESTATE SALES ARE NOT EXPERTS OR QUALIFIED TO OFFER ANY INFORMATION CONCERNING ENVIRONMENTAL HAZARDS, ASBESTOS HAZARDS ETC. AND MAKE NO WARRANTY, GUARANTEE OR STATEMENTS IN CONNECTION WITH SUCH.

29. AUCTIONEER & BROKER IS NOT AN EXPERT IN DETERMINING ENVIRONMENTAL HAZARDS AND HAZARDOUS MATERIAL. PURCHASER ACCEPT THIS PROPERTY IN ITS PRESENT CONDITION, AGREE TO HOLD HARMLESS THE BROKER, HIS AGENTS AND ALEXANDER AUCTIONS & REAL ESTATE SALES FROM ANY ENVIRONMENTAL HAZARDS AND THE COST TO DEFEND HIMSELF, HIS AGENTS OR ALEXANDER AUCTIONS & REAL ESTATE SALES FROM ANY CLAIMS.

30. PURCHASER HAS HAD THE OPPORTUNITY TO INSPECT THIS PROPERTY AND WILL MAKE ALL BIDS AND PURCHASE SAID PROPERTY AS A RESULT OF THEIR INSPECTION.

31. ALEXANDER AUCTIONS & REAL ESTATE SALES AND ALL AGENTS ARE ACTING AS AN AGENT FOR THE SELLERS.

32. ANY REAL ESTATE TERMS AND INFORMATION SUPPLIED IN THE TERMS AND CONDITIONS
CONCERNING TAX AMOUNTS AND OTHER INFORMATION ARE SUPPLIED TO ACCOMMODATE THE PURCHASER(S). IT IS THE PURCHASERÂ’S SOLE RESPONSIBILITY TO HAVE COMPLETED THEIR OWN DUE DILIGENCE SURVEY, RESEARCH, INSPECTION AND CHECKING AND SHALL BID ACCORDING TO THEIR DUE DILIGENT SURVEY AND RESEARCH.

33. ALL INFORMATION USED IN THE ADVERTISING AND PROMOTION OF THIS AUCTION HAS BEEN OBTAINED FROM PUBLIC RECORDS AND OTHER SOURCES DEEMED TO BE RELIABLE AND ARE TO BE TRUE AND CORRECT. NO WARRANTIES ARE MADE TO THIS EFFECT.

34. PROPERTY IS BEING SOLD SUBJECT TO THESE TERMS WHICH WILL BE INCORPORATED INTO THE SALES CONTRACT FOR FUTURE REFERENCE.

WE APPRECIATE YOU ATTENDING THIS AUCTION AND WE WILL BE GLAD TO ANSWER ANY QUESTIONS YOU MAY HAVE.
ALEXANDER AUCTIONS & REAL ESTATE SALES
MARVIN E. ALEXANDER CAI, Auctioneer TL9, FL 107
239 University Street * P.O. Box 129, MARTIN TN 38237 * (731) 587-4244
Email: alexanderauctions@frontiernet.net]]>

McKenzie Commercial Building