20% down on Sale day, balance in 30 days! 10% Buyers Premium added to final bids!
Volunteer Energy Cooperative Cost to Install Power will be $973.92 per tract and added to each tract price at closing. Closing Agent will handle proceeds. Proceeds due at closing. Combining tracts at auction will not result in a reduction per tract for power installation. Cost to install power is a direct result of there currently being no power available.
Simulcast Online Bidding at Live Auction: Online bidders must pre-register at www.pottsbrothers.com. During the live auction, online bidders can participate and must bid at a pre-determined bid increments. Online bid increments are similar amounts as are being asked at the live auction, but not as flexible to change as at the live event. The online bid assistant at the live auction will only be able to accept pre-determined bid increments from online bidders. We will also have pre-determined combinations of tracts for online bidders plus being offered as a whole. We welcome online bidding but due to online bidding platforms, there is not a tremendous amount of flexibility during the actual live auction when multiple parcels are being offered. Please remember, the bids in the first and opening round of bidding were buyers choose their tract or tracts are being bid per acre. The acre bid is then multiplied by the acres in the tract for the contract price. Once the combinations begin, the bid amount is in regular dollar amounts. Please call before the auction for more clarification if needed.
Contract for Sale of Real Property: Each property is offered under the specific terms provided in the contract. The Contract for Sale of Real Property is available at www.pottsbrothers.com, in the pre-bid package located from within the files tab. Please read and review the contract thoroughly prior to bidding on any property. If you have not read and reviewed the Contract for Sale of Real Property and all other materials available plus completed your own “due diligence” to satisfy all questions, please Do Not Bid!
INTERNET BIDDING INCREMENTS
Range Minimum $1,000.00 – Range Maximum $2500.00 = Increment $50.00
Range Minimum $2,500.00 – Range Maximum $10,000.00 = Increment $100.00
Range Minimum $10,000.00 – Range Maximum $50,000.00 = Increment $ 500.00
Range Minimum $50,000.00 – Range Maximum $100,000.00 = Increment $1,000.00
Range Minimum $100,000.00 – Range Maximum $250,000.00 = Increment $2,500.00
Range Minimum $250,000.00 – Range Maximum $500,000.00 = Increment $5,000.00
Range Minimum $500,000.00 – Range Maximum $3,000,000.00+ = Increment $10,000.00
Potts Brothers Land and Auction, LLC has the sole authority to resolve any bidding disputes as they may arise.
Bidder Verification: The identity of bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Potts Brothers Land and Auction, LLC will reject the registration, and bidding activity will be terminated. The Seller and Potts Brothers Land and Auction, LLC reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc. Bidders agree to keep their user-name and password confidential as they are responsible for ANY and ALL activity involving their account. When using the website, you must obey any and all local, state, and federal laws. Violations will result in termination of website use privileges.
Terms: At the close of the auction, successful bidders will be emailed the contract package to execute and return to Potts Brothers Land and Auction, LLC. Successful bidders will deposit escrow funds as listed on the contract price in form of auction company approved check or wire transfer. The entirety of the remaining balance is due at closing. Purchaser shall be responsible for all wire transfer fees.
Buyer’s Premium: A 10% buyer’s premium will be added to the bid price on all properties to determine the final contract price.
10% Buyer’s Premium Example:
Bid Price: $10,000.00
Plus 10% Buyer’s Premium: $ 1,000.00
Total Contract Price: $11,000.00
Closing: Time being of the essence, these sales shall be closed on or before 30 days from sale as listed on sales contract. The purchaser will pay for all normal closing costs associated with the transaction, depending upon the state where purchased. The ad valorem taxes will be the prorated.
Broker Participation: A two percent (2%) bid price commission is available to properly registered brokers. A Broker Participation Form with complete instructions is available at www.pottsbrothers.com
Agency Disclosure: In all transactions, the auctioneer is acting as agent for the seller, not as a buyer’s agent. Potts Brothers Land and Auction, LLC reserves the right to remove or cancel the bids or bidding rights and privileges of any party, deemed not to be in the best interest of the seller, at any time. At auctions with reserve, the seller and/or auctioneer reserves the right to bid. On all other auctions, auctioneer reserves the right to bid on auctioneer’s behalf when permitted by law.
New Data, Corrections and Changes: Please check for updated information prior to scheduled auction time to inspect any changes, corrections, or additions to the property information. Disclaimer & Absence of Warranties: All information contained in this information packet and all related materials are subject to the terms and conditions outlined in the Contract for Sale of Real Estate agreement. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation either expressed or implied, concerning the property is made by the Seller or Potts Brothers Land and Auction, LLC Agents or Representatives. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in the brochure and on the website is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by Seller, Potts Brothers Land and Auction, LLC, Agents or Representatives. Conducting the auction and increments of bidding are at the direction and discretion of the Auctioneer. All decisions of Potts Brothers Land and Auction, LLC are final.
Any dispute between Potts Brothers Land and Auction, LLC, its agents or Representatives and Buyer(s) will be tried in a court of jurisdiction in Walker County, Georgia. By bidding on the property, buyer agrees to all terms and conditions set forth.
Disclaimer: All information contained herein is believed to be correct to the best of the auctioneer’s knowledge. The information is being furnished to bidders for the bidder’s convenience and it is the responsibility of the bidder to determine that information contained herein is accurate and complete.
Any reliance on the contents shall be solely at the recipient’s risk. Bidders must conduct and rely solely upon their own investigations and inspections. The property is being sold “AS IS” with any and all faults. Please review all information supplied, and seek appropriate assistance prior to bidding.
Refresh your screen constantly during closing minutes of the bidding.
Server & Software Technical Issues: In the event there are technical difficulties related to the service, software or any other on-line auction related technologies Potts Brothers Land and Auction, LLC reserves the right to extend bidding, continue bidding or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR POTTS BROTHERS LAND AND AUCTION, LLC SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. E-mail notifications will be sent to the email address provided in your registration with updated information as deemed necessary by Potts Brothers Land and Auction, LLC.
From Benton, Tennessee, go north of Hwy 411 to Delano Rd (just across Hiwassee River Bridge), turn left and follow to farm on left!!