Special Terms
Everything will be sold As-Is Where-Is; without guarantee or warranty expressed or implied. Items become the sole responsibility of purchaser. All sales are final!
It is buyers responsible to do there due diligence. Auction is not subject to finance or inspection
Preview is Aug 16 2pm-3pm or by appointment 865-607-6698
EK Auctioneers LLC is and agent for sellers only
AS-IS - The Buyer hereby certify that they understand that they are purchasing the real estate in an “AS IS” condition and will accept the property in spite of any defects or conditions, known or unknown, visible or not visible, and therefore the Buyers do hereby release and forever discharge the Sellers and Auctioneers, their respective heirs, licensees, agents, employees, successors and assigns from any and all claims liabilities, losses, damages, costs, and expenses resulting therefrom. Neither the Sellers, Auctioneers, licensees, agents, nor employees shall be liable for any cost including damages, recession, reformation, allowance or adjustments, based on the failure of any component, property or aspect of the real estate, to conform to any specific standard and/or expectation of the Buyers.
The Buyers are purchasing solely in reliance upon their own investigation and inspection and that there are no representations or warranties, expressed or implied, made by the Sellers, Auctioneers, agents or employees. Seller further agrees to permit any other inspections required by lending institutions, insuring agencies, etceteras, or provided for in the terms of this agreement. Any and all expenses and obligations for all repairs, inspections, surveys, permits, etc. are strictly and solely the Buyers responsibility.
(C) Buyer understands that Buyer has the option to request inspections of the property (wood infestation, certificate of occupancy, lead base paint, radon, mold, urea formaldehyde, environmental risks, water, sewer, home, building, or mechanical inspections, etc.) Any and all expenses and obligations for such inspections and remedies are strictly and solely the Buyers. The Buyers understand they are purchasing the property “AS-IS”
The Buyers should obtain any inspections desired to confirm that the property is environmentally safe. Should the condition of the premises be determined as unsafe as to environmental standards as set by the proper authorities, the Sellers may elect to cure the situation, or give credit at closing for remedy, in which the Buyer will proceed with purchase, or the Sellers may declare this agreement null and void and only be responsible to the Buyers for the return of all hand money.
The Sellers shall convey the title in fee simple deed of special warranty. The property is to be conveyed free and clear of all liens, encumbrances, and easements, EXCEPTING HOWEVER the following; existing deed restrictions, historic preservation restrictions or ordinances, building restrictions, ordinances, easements of roads, easements visible upon the ground, easements of record, privileges or rights of public service companies, if any; otherwise the title to the above described real estate shall be good and marketable and such as will be insured by a reputable Title Insurance Company at the regular rates. All Title work, Title insurance, and all expenses incurred by the Buyer (prior to and after the closing) are strictly and solely the expense and obligation of the Buyer. The Buyer accepts present condition of the Title of the Real Estate. The Buyer will give a two-month extension past the closing date listed in 3H of this agreement for the Seller to correct any title problems to convey a free and clear deed.
(B) In the event Seller is unable to give a good and marketable title and such as will be insured by a reputable Title Insurance Company at the regular rates, the Buyer shall have the option of taking such title as Seller can give without changing the price, or of being repaid the deposit paid by the Buyer to Seller on account of purchase price, and there shall be no further liability or obligation on either of the parties hereto and this Agreement shall become NULL and VOID.
(C) Any survey or surveys which may be required by the Title Insurance Company or the abstracting attorney, for the preparation of an adequate legal description of the Property (or the correction thereof), shall be secured and paid for by the Buyer, including any survey or surveys desired by Buyer or required by the mortgage lender, also shall be secured and paid for by Buyer. All expenses incurred by the Buyer are strictly and solely the expense and obligations of the Buyers.
12. ZONING CLASSIFICATION/RIGHTS OF WAYS - The Buyers acknowledge that they have had the opportunity to investigate zoning with the necessary authorities (state, county and local) to their satisfaction for their intended uses of the property before signing this agreement and are purchasing the property “AS-IS” - “Where Is” with the current zoning, if any. This property is [ ] zoned (see #2 of this agreement for zoning) [ ] not zoned. The Buyers are purchasing this real estate subject to any and all restrictions, covenants, leases, right of ways, etcetera of record. To the extent that this agreement is intending to convey mineral rights including oil, gas, etc, the Buyers acknowledge their awareness that Sellers can convey only what they own.
The Seller and Buyers save harmless and indemnify the said Auctioneers, its employees, licensees, agents, successors and assigns from any and all claims, liabilities, suits, losses, costs, harm or damages pertaining to this agreement and transaction. It is understood and agreed that EK Auctioneers LLC , its employees, licensees, agents, successors or assigns shall not in any case whatsoever be held liable by either party for the performance or non-performance of any item or covenant of this agreement. Seller and Buyer hereby releases, quit claims and forever discharges AUCTIONEERS, ALL AGENTS, their SUBAGENTS, EMPLOYEES, LICENSEES and any OFFICER or PARTNER of any one of them and any other PERSON, FIRM, or CORPORATION who may be liable by or through them, from any and all claims, losses or demands, including, but not limited to, personal injuries and property damage and all of the consequences thereof, whether now known or not, including anything arising from the presence of termites or other wood-boring insects, radon, mold, lead-based paint hazards, any wetlands or flood plains, environmental hazards, hazardous materials, oil or gas drilling or processing, any defects in the individual on-lot sewage system or deficiencies in the on-site water service system, or any defects of conditions on the Property or any zoning and/or title discrepancies, etc. This release shall survive settlement or lack thereof.