2800 Sq Ft Home on 1+- Acre

RLM Land and Auction has been given the opportunity by the Cagle Family to sell a home and piece of property that has been in their family since 1951. The property is located at 1344 US Hwy. 127, Pikeville, TN. The property is located on the bypass in Pikeville, TN, has 1± acres and also 120 feet of highway frontage. The potentials of this home and property are limitless. All public utilities are available with this property. The structure on the property is a 2-story home with full basement and approximately 2,800 sq. ft. of living space. The home has a kitchen, bathroom, 3 bedrooms, living room and dining room on the main level. Upstairs, there is additional space for more bedrooms or much needed storage space. In addition to ample living space, the home’s interiors include original hand- pieced oak flooring and walls. The exteriors of the home is vinyl siding and a newly structured roof less than 10 years old. The home was built prior to 1978 and is subject to a lead-based paint inspection. The potential buyer(s) have 20 days prior to the auction for inspection. The seller has also disclosed that in heavy rains the basement will seep small amounts of water inside. Buyer(s) will need to do inspections prior to the auction date and base bids on those decisions. The seller is ready to liquidate this part of the property. I ask you as a Broker/Auctioneer to make an appointment now to view and place your bid for this piece of unique real estate that is to be sold at public auction. TERMS & CONDITIONS: Auction Date & Time: Auction will be held on November 11, 2017, at 10:00 a.m. Central time. PROPERTY TO BE AUCTIONED: 1344 U.S. Hwy 127, Pikeville, TN 37367. AUCTION WILL BE HELD AT: 1344 U.S. Hwy 127, Pikeville, TN 37367. INSPECTION: Property will be available for inspection on November 3 and 4, and November 10, 10:00 a.m. to 2:00 p.m., or by appointment. TERMS & CLOSING: Successful Bidder shall be required to sign a Purchase and Sale Agreement and pay an earnest money deposit equal to 25% of the total purchase price on day of auc- tion and balance due on or before 30 days after the day of auction. If bid is won online, the online winning bidder must have earnest money deposit equal to 25% of the total purchase price on day of auction transferred by wire at 8:00am CST on Monday, November 13, 2017. If bidder fails to wire funds by 10:00am CST on Monday the 13th, their bid is forfeited. In the event the Buyer fails to close and pay his/her balance due, the deposit may be retained by the Seller as liquidated damages in addition to any other remedies available to the Seller and shall not be deemed a forfeiture or penalty within the meaning of any applicable law. BUYER’S PREMIUM: A Buyer’s Premium of 7% shall be applied to each successful bid to be paid at closing by the Buyer(s). CLOSING ATTORNEY: Closings will be conducted by Lynne Swafford, Attorney-At-Law, 776 Frazier St., Pikeville, TN 37367. Property will be conveyed by Warranty Deed. Preparation of Warranty Deed, Title Search, Auctioneer Commission, and Prorated Taxes as of date of closing will be paid by Seller(s). All other normal closing costs will be paid by Purchaser(s). Title Insurance will be available at Purchaser’s expense. SELLER’S CONFIRMATION: The sale is subject to the seller’s confirmation, meaning that the seller(s) has the right to reject any and all bids. Seller(s) also reserves the right to add or delete property and/or cancel the sale. EXCLUSIVE RIGHT TO SELL: RLM Land and Auction has the exclusive right to sell the property. AS-IS/WHERE-IS: Property will sell ‘AS-IS/WHERE-IS’ with all faults and with no warranties expressed or implied by the seller(s)/owner(s), the auction company or its agents including but not limited to property lines, boundaries and property condition. Per the Property Condition Disclosure Act, § §66-5-201 to 66-5-212 of the Official Manual of TREC (2008). 66-5-209. Exempt property transfers. - The following are specifically excluded from the provisions of this part..., (10) Any property sold at public auction; [Acts 1994, ch. 838, §9; 2000, ch. 771, § §2-4.] Those inspecting the property assume all risks associated with any inspection of the property. Every effort has been made to ensure the accuracy of the data in this packet. Measurements are approximate. The information contained herein is deemed to be accurate but is not guaranteed by the seller(s), the auction company or its agents. ABSENTEE/PHONE BIDDING: Absentee and/or Phone Bidding paperwork must be completed and confirmation of applicable conditions met by RLM Land and Auction no later than noon (CST) the day prior to the auction. BROKER PARTICIPATION: Broker par- ticipation paperwork must be completed and received by RLM Land and Auction no later than noon (CST) the day prior to the auction. ANNOUNCEMENTS: Any and all announcements made from the Auction Block take precedence over all printed material and advertising.