LARGE COMMERCIAL BUILDING ON 5 +/- ACRES
TOW MOTOR AND WINERY EQUIPMENT
847 W. Main St., Monteagle, TN
Grundy County
Bid ONLINE or AT BID CENTER
Tuesday, March 31st, 2015 @ 1:00 PM
PREVIEW: Tuesday, March 24th from 12 to 2 PM
SOLD! $365,200
Currently being used as Monteagle Winery. This property offers a large foyer, large tasting room with bar and stone fireplace, his and her bathroom, event venue, office with bathroom, workroom-breakroom, storage room, upstairs efficiency apartment with full bath. Downstairs features winery including tank room, lab, bottling room, processing room, climate controlled inventory warehouse and roll-up access drive door. Even though this property has been previously used as a winery, it offers unlimited possibilities. Approx. 300 yards from I-24 high atop Monteagle Mountain.
Furniture and Decorative Items also being sold. CLICK HERE to bid on these items.
Equipment being offered separately or together with real estate online bidding.
If purchasing equipment separate from real estate see below:
Payment in full by cash or cashiers check must be made within 24 hours of the close of bidding and pick up is scheduled for Wednesday, April 8th from 12:00pm - 6:00 pm. Payment must be made before item(s) are removed by the specified date. This sale has an auto-extend feature.
Some items will require a professional moving company to remove. Buyer responsible for securing moving company and transport of equipment.
Bidding assistance provided at bid center:
847 W. Main St., Monteagle, TN 37356. Please arrive at bid center by 12:00 noon as the auction will begin closing on March 31st at 1:00 PM.
Carl Montgomery (615) 589-0078
Stephanie Mitchell (615) 397-1468
A.: Terms: 10% Buyers Premium added to the final bid price to determine final selling price. 10% down day of sale and balance due at closing. Property information believed to be accurate but not guaranteed. Buyer should independently verify all information prior to bidding. Announcements made day of sale take precedence over any previous advertising. See website for full online terms. Bidding assistance provided at bid center: 847 W. Main St., Monteagle, TN 37356. Please arrive at bid center by 12:00 noon as the auction will begin closing on Tuesday, March 31st at 1:00 PM. If purchasing equipment separate from real estate see below:
B.: Personal Property Payment in full by cash or cashiers check must be made within 24 hours of the close of bidding and pick up is scheduled for Wednesday, April 8th from 12:00 pm - 6:00 pm. Payment must be made before item(s) are removed by the specified date. This sale has an auto-extend feature. Some items will require a professional moving company to remove. Buyer responsible for securing moving company and transport of equipment
C: If the Real Estate + Equipment (Lot 1) final bid price is higher than (Lots 1A and 2-38) it will offered as a whole. This is subject to seller and lender confirmation once auction is completed.
If (Lot 1A) plus (Lots 2-38) final bid prices are higher than (Lot 1) the Individual lots will be offered as separate lots. This is subject to seller and lender confirmation once auction is completed.
Real Estate Terms Lot 1 and Lot 1A):
1. Refresh Bidding:
Refresh your screen constantly during the closing minutes of the bidding, or Enable the 'Auto Refresh' feature.
2. Bidding Increments:
Each Comas Montgomery Realty & Auction Company Inc. auction may have different bidding increments. The software will calculate the next bid amount before submitting the bid.
3. Agency:
Comas Montgomery Realty & Auction Co., Inc., Agents and Representatives are agents of the Seller.
4. Buyer's Premium:
There will be a ten percent (10%) Buyer’s Premium added to final bid price to determine the final selling price of the auction lot.
5. Auction Ending:
Comas Montgomery Realty & Auction Co., Inc. Online Auctions are timed events and all bidding will close at a specified time. Comas Montgomery Realty & Auction Co., Inc. Online Auctions also have an auto-extend feature. Any bid placed in the final five (5) minutes of an auction, the auction ending will be automatically extended five (5) minutes from the time the bid was placed. Example: If an auction is scheduled to close at 6:00 receives a bid at 5:59, the close time will automatically extend 6:04. The auto extend feature remains active until no further bids are received within a five (5) minute time frame. If any lot is extended, all lots will be extended.
6. Time Increase or Decrease:
Comas Montgomery Realty & Auction Co., Inc. may increase or decrease the extended time amount at any time during the auction until the close of bidding.
7. Outbid Notification:
Until the auction begins to close, the bidding software will notify bidders by email when they have been outbid. Bidders may also find out if they have been outbid by refreshing the individual lot information. Due to varying internet connections/speed, please place a max bid or constantly monitor the auction at close of bidding. Sometimes email notifications can be delayed.
8. Property Information & Inspection:
Comas Montgomery Realty & Auction Co., Inc. is not responsible for any missing or incorrect listing information. Comas Montgomery Realty & Auction Co., Inc. has attempted to provide accurate descriptions. However, it is the bidder's responsibility to conduct any inspections to determine the condition and feasibility of the bidder’s intended use. Descriptions that are provided by Comas Montgomery Realty & Auction Co., Inc. are provided in good faith and are matters of opinion.
9. Auctioneer's Discretion:
Comas Montgomery Realty & Auction Co., Inc. has full discretion to modify the date and time, order, and details of the auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and convenience of Comas Montgomery Realty & Auction Co., Inc. or the seller.
10. Server & Software Technical Issues:
In the event that there are technical difficulties related to the server, software or any other online auction-related technologies, Comas Montgomery Realty & Auction Co., Inc. reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor Comas Montgomery Realty & Auction Co., Inc. shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Email notifications may be sent to registered bidders with updated information as deemed necessary by Comas Montgomery Realty & Auction Co., Inc.
11. Terms:
10% OF THE FINAL BID PRICE REQUIRED as non-refundable earnest money in the form of a certified check, cash or wire transfer within 24 hour of the close of auction, with the balance of purchase price due at closing. Purchaser shall be responsible for all wire transfer fees. Closing will be as specified in the Contract for Sale of Real Estate. This online only auction is a CASH SALE not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by Bidder and or Buyers at registration prior to bidding and specified in the Contract for Sale of Real Estate under “files” sections of the webpage.
12. Contract For Sale Of Real Estate:
The contract is required to be fully and correctly completed, WITHOUT any modifications and properly signed within 24 hours of the close of auction.
13. Closing:
Property is to be closed within 30 days after the auction. NO EXTENTIONS. Be prepared to close.
14. Closing Costs:
Seller and Buyer shall pay a closing fee and document preparation fee. Seller shall also pay for any costs incurred by Comas Montgomery Realty & Auction Company, Inc., as agreed upon in the EXCLUSIVE AUCTION CONTRACT OF EMPLOYMENT. Seller shall pay no closing costs for Buyer, including any lender's fees or recording fees unless otherwise agreed to in this Contract.
15. Property Condition:: Buyer specifically acknowledges herein that the property is being purchased 'AS IS' and that neither the Seller nor Comas Montgomery Realty & Auction Company, Inc., makes any warranties or representations, express or implied, as to the habitability, condition, square footage, acreage or boundary lines of the real property conveyed herein. Seller is NOT responsible for any repairs.
16. Hold Harmless:
Buyer and or Bidder agrees to hold harmless and indemnify Comas Montgomery Realty & Auction Co., Inc. and its Agents, Owners, Directors, Employees and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.
17. Disputes:
Any dispute between Comas Montgomery Realty & Auction Co., Inc., its Agents or Representatives and the Buyer(s) will be tried in a court of jurisdiction in Rutherford County, Tennessee. By bidding on any item, buyer agrees to all terms and conditions set forth. EACH PARTY HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES (TO THE EXTENT PERMITTED BY APPLICABLE LAW) ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY OF ANY DISPUTE ARISING UNDER OR RELATING TO THIS AGREEMENT AND AGREES THAT ANY SUCH DISPUTE SHALL BE TRIED BEFORE A JUDGE SITTING WITHOUT A JURY.
18. Auction Bidder and/or Buyer Default:
Successful Bidder and or Buyer not executing and returning the contract with earnest money deposit within 24 hours of the conclusion of the auction will be considered in default. In the event a winning Bidder and or Buyer fails to submit the signed Contract for Sale of Real Estate and earnest money deposit, the winning Bidder and or Buyer shall pay to Comas Montgomery Realty & Auction Company, Inc., as damages, an amount equal to the Buyer's premium or commission percentage, as set forth in said Contract, and any and all expenses incurred by the said Comas Montgomery Realty & Auction Company, Inc., for said auction. Should Buyer's earnest money check be returned for any reason whatsoever, this shall constitute an item of default, and in addition to the remedies previously stated hereinabove, Buyer shall also pay an additional penalty of five percent (5%) of the earnest money check to Comas Montgomery Realty & Auction Company, Inc. Buyer shall also pay a reasonable attorney's fee and costs incurred in the collection of these monies owed by Buyer as a result of Buyer's default. Buyer shall also pay the Seller any damages caused by said breach of contract, including attorney's fees and costs. This shall not preclude the Seller from suing for specific performance of the Contract of Sale, in addition to said damages. It is specifically understood and agreed by and between the Seller and Comas Montgomery Realty & Auction Company, Inc., that in the event the Buyer should default in the terms of this Contract in any manner whatsoever, that the earnest money, or sufficient sums therefore, shall be paid first to the agent for the Buyer's premium or commission percentage, and the balance, if any, to the Seller. Any disputes will be tried in a court of jurisdiction in Rutherford County, Tennessee. Comas Montgomery Realty & Auction Co., Inc. reserves the right to sell to the next highest qualified Bidder and or Buyer in the event the successful high Bidder and or Buyer does not comply with the terms of the sale. By bidding on the property, buyer agrees to all terms and conditions set forth. The contract is required to be fully and correctly completed, without any modifications and properly signed. A contract that is incomplete, incorrect, or modified in any respect, is considered to be in default.
19. Auction Cancellation – Bid Rejection:
Comas Montgomery Realty & Auction Co., Inc. reserves the right to reject any and all bids for any reason. Comas Montgomery Realty & Auction Co., Inc. reserves the right to cancel this auction, or remove any item or lot from this auction prior to the close of bidding even if a bid has been placed.
20. Acceptance of Bid Prices:
ALL BIDS ARE SUBJECT TO SELLER CONFIRMATION UNLESS NOTED AS ABSOLUTE. Successful Bidder and or Buyer(s) will be required to enter into a purchase agreement immediately following the close of the auction. Comas Montgomery Realty & Auction Co., Inc. will e-mail documents to be executed and fax or e-mail back to Comas Montgomery Realty & Auction Co., Inc. within 24 hours of the end of the auction. Successful Bidder and or Buyers not executing and returning contracts with earnest money deposit within 24 hours will be considered in default. Any and all inspections that a buyer may want must be completed at buyer’s expense prior to the close of the online bidding. Comas Montgomery Realty & Auction Co., Inc., Agents, Representatives or Employees may bid. Comas Montgomery Realty & Auction Co., Inc. reserves the right to sell to the next highest qualified Bidder and or Buyer if the winning Bidder and or Buyer is in default of these terms. Winning Bidder and or Buyer must execute the contract with no changes, modification, additions or deletion.
21. Title:
As specified in the Contract for Sale of Real Estate
22. Deed:
As specified in the Contract for Sale of Real Estate
23. Possession:
As specified in the Contract for Sale of Real Estate
24. Real Estate Taxes and Closing Cost:
UNLESS OTHERWISE STATED IN THE CONTRACT FOR SALE OF REAL ESTATE, all taxes will be prorated to day of closing using the most current available year’s tax amount. HOA fees and condominium assessments, if any, will be prorated up to the date of closing. The purchaser will pay all other closing costs associated with the purchaser’s side of the sale, including local and state recording fees and any cost associated with the purchaser’s loan.
25. Easements:
Subject to any and all easements of record.
26. Zoning:
This property is subject to all state and local zoning ordinances.
27. Acreage & Aerial Photos:
Parcel dimensions and acreages are based on legal descriptions. Aerial photos are for illustration purposes only and not surveyed boundary lines.
28. Bidder Verification:
The identity of all bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, Comas Montgomery Realty & Auction Co., Inc. will reject the registration, and bidding activity will be terminated. The Seller and Comas Montgomery Realty & Auction Co., Inc. reserve the right to preclude any person from bidding.
29. Bidder Responsibilities:
Bidder responsibilities include, but are not limited to: Bidders agree to keep their username and password confidential, as they are responsible for ANY and ALL activity involving their account. When using the web site you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges. Auction company employees and/or auction company may bid on auction. We gather aggregate information from the web site which may include but is not limited to: number of page visitors, most visited pages, and any and all correspondence.
30. Guaranty Agreement:
By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees earnest money payment to Comas Montgomery Realty & Auction Co., Inc.
31. Age Requirement:
All bidders must be eighteen (18) years of age or older.
Personal Property Terms:
32. Refresh Bidding:
Refresh your screen constantly during the closing minutes of the bidding, or Enable the 'Auto Refresh' feature.
33. Bidding Increments:
Each Comas Montgomery Realty & Auction Company Inc. auction may have different bidding increments. The software will calculate the next bid amount before submitting the bid.
34. Auction Ending:
Comas Montgomery Realty & Auction Co., Inc. Online Auctions are timed events and all bidding will close at a specified time. Comas Montgomery Realty & Auction Co., Inc. Online Auctions also have an auto-extend feature. Any bid placed in the final five (5) minutes of an auction, the auction ending will be automatically extended five (5) minutes from the time the bid was placed. Example: If an auction scheduled to close at 6:00 receives a bid at 5:59, the close time will automatically extend 6:04. The auto extend feature remains active until no further bids are received within a five (5) minute time frame. The extension time will apply to individual lots only.
35. Outbid Notification:
Until the auction begins to close, the bidding software will notify bidders by email when they have been outbid. Bidders may also find out if they have been outbid by refreshing the individual lot information. Due to varying internet connections/speed, please place a max bid or constantly monitor the auction at close of bidding. Sometimes email notifications can be delayed.
36. Property Information & Inspection:
Comas Montgomery Realty & Auction Co., Inc. is not responsible for any missing or incorrect listing information. Comas Montgomery Realty & Auction Co., Inc. has attempted to provide accurate descriptions of all items in the auction. However, it is the bidder's responsibility to inspect the item and determine the condition of each lot. Descriptions that are provided by Comas Montgomery Realty & Auction Co., Inc. are provided in good faith and are matters of opinion. The only recourse for the buyer of an item or items that are missing or damaged prior to pick up is not paying for the item.
If the pictures displayed with descriptions do not appear to match, contact [email protected] or call 615.895.0078 to report the auction date and item number.
37. Sold 'As Is Where Is':
Comas Montgomery Realty & Auction Co., Inc. and the seller furnish all auction items to buyers 'As Is', unsupported, without warranty of any kind. Comas Montgomery Realty & Auction Co., Inc. and the seller disclaims all warranties, express or implied, including the implied warranties of merchantability and fitness for a particular purpose. Items are sold in their actual current condition, with all faults and defects, and with all errors of description. Comas Montgomery Realty & Auction Co., Inc. liability to a purchaser will never exceed the purchase price actually paid for an item.
Bidders accept all auction items “with all faults”, whether or not immediately apparent. Bidders are responsible for ascertaining actual current condition through personal inspection and careful review of the description, pictures, video and/or support documentation. Every bidder agrees that his or her decision to bid and the amount he or she bids have been based solely on his or her own independent inspection and evaluation of the auction items.
38. Auctioneer's Discretion:
Comas Montgomery Realty & Auction Co., Inc. has full discretion to modify the date and time, order, and details of the sale of any item or conduct of any auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and convenience of Comas Montgomery Realty & Auction Co., Inc. or the seller. Comas Montgomery Realty & Auction Co., Inc. reserves the right to modify, change, or remove usernames at any time.
39. Server & Software Technical Issues:
In the event that there are technical difficulties related to the server, software or any other online auction-related technologies, Comas Montgomery Realty & Auction Co., Inc. reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor Comas Montgomery Realty & Auction Co., Inc. shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Email notifications may be sent to registered bidders with updated information as deemed necessary by Comas Montgomery Realty & Auction Co., Inc.
40. Terms:
Comas Montgomery Realty & Auction Co., Inc. reserves the right to reject any and all bids for any reason. An accepted bid is a legal binding contract. Items become the full responsibility of the bidder at the time that payment is received. The bidder assumes all risk of loss or damage to the item at that time. Comas Montgomery Realty & Auction Co., Inc. reserves the right to resell any personal property that is not paid for in full by the conclusion of the state pickup date. In any such event, the bidder will still be responsible for payment for the original purchase and the costs of collection of this payment and/or damages resulting for the resale of the property.
Buyer and or Bidder agrees to hold harmless and indemnify Comas Montgomery Realty & Auction Co., Inc. and its Agents, Owners, Directors, Employees and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.
41. Buyer's Premium:
There will be a ten percent (10%) Buyer’s Premium added to final bid price to determine the final selling price of the auction lot.
42. Payment:
Payment must be made before item(s) are removed by the specified date on the auction advertisement. All sales are final. There are no returns, refunds, or adjustments. Comas Montgomery Realty & Auction Co., Inc. accepts the following forms of payment: Cash, Wire Transfer, Cashier’s Check and Money Orders.
43. Auction Cancellation:
Comas Montgomery Realty & Auction Co., Inc. reserves the right to cancel this auction, or remove any item or lot from this auction prior to the close of bidding.
44. Bidder Verification:
The identity of all bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, Comas Montgomery Realty & Auction Co., Inc. will reject the registration, and bidding activity will be terminated. The Seller and Comas Montgomery Realty & Auction Co., Inc. reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, mental fitness, etc.
45. Bidder Responsibilities:
Bidder responsibilities include, but are not limited to: Bidders agree to keep their username and password confidential, as they are responsible for ANY and ALL activity involving their account. When using the web site you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges. Auction company employees and/or auction company may bid on auction. We gather aggregate information from the web site which may include but is not limited to: number of page visitors, most visited pages, and any and all correspondence.
46. Personal Property Pickup:
All items, must be picked up from the address listed on the auction, as well as the date listed, once Comas Montgomery Realty & Auction Co., Inc. has received and acknowledged payment in full. Items will not be released to buyers until payment is made in full to Comas Montgomery Realty & Auction Co., Inc. Bidders are responsible for rigging, loading, and moving all items purchased without assistance from Comas Montgomery Realty & Auction Co., Inc. If you are the winning bidder on large items, please bring help and equipment to load the item.
47. Security:
Surveillance and security are on site; please do not enter the property except at the specified preview date and time or by appointment.
48. Default:
If purchases are not settled by the specified pick up day, it will be considered in default. Upon default the bidder will be black listed/blocked from bidding on Comas Montgomery Realty & Auction Co., Inc. auctions, as well as MarkNet Alliance auctions and may be charged ten percent (10%) of bid price or five hundred dollars ($500), whichever is greater. All defaulted items may be offered to the next highest qualified bidder at the discretion of Comas Montgomery Realty & Auction Co., Inc.
The bidder agrees to pay all reasonable attorney fees and other costs incurred by Comas Montgomery Realty & Auction Co., Inc. in its efforts to collect unpaid funds from the bidder. The bidder agrees that a fee of two percent (2%) of the outstanding balance per month be added to any unpaid balance due Comas Montgomery Realty & Auction Co., Inc. Any dispute will be tried in a court of jurisdiction in Rutherford County, Tennessee.
EACH PARTY HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES (TO THE EXTENT PERMITTED BY APPLICABLE LAW) ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY OF ANY DISPUTE ARISING UNDER OR RELATING TO THIS AGREEMENT AND AGREES THAT ANY SUCH DISPUTE SHALL BE TRIED BEFORE A JUDGE SITTING WITHOUT A JURY.
49. Guaranty Agreement:
By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees payment to Comas Montgomery Realty & Auction Co., Inc. of any bid amount not paid when due by the business entity or corporation, for any reason, together with all collection expenses incurred to enforce collection, including a reasonable attorney's fee.
50. Limitation of Liability:
If, for any reason, Comas Montgomery Realty & Auction Co., Inc. is unable to make available or deliver any Purchase, or portion thereof, or documentation required in respect of any Purchase at time of pickup, the sole liability of Comas Montgomery Realty & Auction Co., Inc., if any, shall be the return of any paid monies in respect of such Purchase upon its return by Purchaser.
51. Disputes:
Any dispute between Comas Montgomery Realty & Auction Co., Inc., its Agents or Representatives and the Buyer(s) will be tried in a court of jurisdiction in Rutherford County, Tennessee. By bidding on any item, buyer agrees to all terms and conditions set forth.
52. Age Requirement:
All bidders must be eighteen (18) years of age or older.
53. Firearms Regulations:
Bidders must abide by any local, state, or federal laws set forth on any firearm purchases.
B.: Personal Property Payment in full by cash or cashiers check must be made within 24 hours of the close of bidding and pick up is scheduled for Wednesday, April 8th from 12:00 pm - 6:00 pm. Payment must be made before item(s) are removed by the specified date. This sale has an auto-extend feature. Some items will require a professional moving company to remove. Buyer responsible for securing moving company and transport of equipment
C: If the Real Estate + Equipment (Lot 1) final bid price is higher than (Lots 1A and 2-38) it will offered as a whole. This is subject to seller and lender confirmation once auction is completed.
If (Lot 1A) plus (Lots 2-38) final bid prices are higher than (Lot 1) the Individual lots will be offered as separate lots. This is subject to seller and lender confirmation once auction is completed.
Real Estate Terms Lot 1 and Lot 1A):
1. Refresh Bidding:
Refresh your screen constantly during the closing minutes of the bidding, or Enable the 'Auto Refresh' feature.
2. Bidding Increments:
Each Comas Montgomery Realty & Auction Company Inc. auction may have different bidding increments. The software will calculate the next bid amount before submitting the bid.
3. Agency:
Comas Montgomery Realty & Auction Co., Inc., Agents and Representatives are agents of the Seller.
4. Buyer's Premium:
There will be a ten percent (10%) Buyer’s Premium added to final bid price to determine the final selling price of the auction lot.
5. Auction Ending:
Comas Montgomery Realty & Auction Co., Inc. Online Auctions are timed events and all bidding will close at a specified time. Comas Montgomery Realty & Auction Co., Inc. Online Auctions also have an auto-extend feature. Any bid placed in the final five (5) minutes of an auction, the auction ending will be automatically extended five (5) minutes from the time the bid was placed. Example: If an auction is scheduled to close at 6:00 receives a bid at 5:59, the close time will automatically extend 6:04. The auto extend feature remains active until no further bids are received within a five (5) minute time frame. If any lot is extended, all lots will be extended.
6. Time Increase or Decrease:
Comas Montgomery Realty & Auction Co., Inc. may increase or decrease the extended time amount at any time during the auction until the close of bidding.
7. Outbid Notification:
Until the auction begins to close, the bidding software will notify bidders by email when they have been outbid. Bidders may also find out if they have been outbid by refreshing the individual lot information. Due to varying internet connections/speed, please place a max bid or constantly monitor the auction at close of bidding. Sometimes email notifications can be delayed.
8. Property Information & Inspection:
Comas Montgomery Realty & Auction Co., Inc. is not responsible for any missing or incorrect listing information. Comas Montgomery Realty & Auction Co., Inc. has attempted to provide accurate descriptions. However, it is the bidder's responsibility to conduct any inspections to determine the condition and feasibility of the bidder’s intended use. Descriptions that are provided by Comas Montgomery Realty & Auction Co., Inc. are provided in good faith and are matters of opinion.
9. Auctioneer's Discretion:
Comas Montgomery Realty & Auction Co., Inc. has full discretion to modify the date and time, order, and details of the auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and convenience of Comas Montgomery Realty & Auction Co., Inc. or the seller.
10. Server & Software Technical Issues:
In the event that there are technical difficulties related to the server, software or any other online auction-related technologies, Comas Montgomery Realty & Auction Co., Inc. reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor Comas Montgomery Realty & Auction Co., Inc. shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Email notifications may be sent to registered bidders with updated information as deemed necessary by Comas Montgomery Realty & Auction Co., Inc.
11. Terms:
10% OF THE FINAL BID PRICE REQUIRED as non-refundable earnest money in the form of a certified check, cash or wire transfer within 24 hour of the close of auction, with the balance of purchase price due at closing. Purchaser shall be responsible for all wire transfer fees. Closing will be as specified in the Contract for Sale of Real Estate. This online only auction is a CASH SALE not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by Bidder and or Buyers at registration prior to bidding and specified in the Contract for Sale of Real Estate under “files” sections of the webpage.
12. Contract For Sale Of Real Estate:
The contract is required to be fully and correctly completed, WITHOUT any modifications and properly signed within 24 hours of the close of auction.
13. Closing:
Property is to be closed within 30 days after the auction. NO EXTENTIONS. Be prepared to close.
14. Closing Costs:
Seller and Buyer shall pay a closing fee and document preparation fee. Seller shall also pay for any costs incurred by Comas Montgomery Realty & Auction Company, Inc., as agreed upon in the EXCLUSIVE AUCTION CONTRACT OF EMPLOYMENT. Seller shall pay no closing costs for Buyer, including any lender's fees or recording fees unless otherwise agreed to in this Contract.
15. Property Condition:: Buyer specifically acknowledges herein that the property is being purchased 'AS IS' and that neither the Seller nor Comas Montgomery Realty & Auction Company, Inc., makes any warranties or representations, express or implied, as to the habitability, condition, square footage, acreage or boundary lines of the real property conveyed herein. Seller is NOT responsible for any repairs.
16. Hold Harmless:
Buyer and or Bidder agrees to hold harmless and indemnify Comas Montgomery Realty & Auction Co., Inc. and its Agents, Owners, Directors, Employees and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.
17. Disputes:
Any dispute between Comas Montgomery Realty & Auction Co., Inc., its Agents or Representatives and the Buyer(s) will be tried in a court of jurisdiction in Rutherford County, Tennessee. By bidding on any item, buyer agrees to all terms and conditions set forth. EACH PARTY HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES (TO THE EXTENT PERMITTED BY APPLICABLE LAW) ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY OF ANY DISPUTE ARISING UNDER OR RELATING TO THIS AGREEMENT AND AGREES THAT ANY SUCH DISPUTE SHALL BE TRIED BEFORE A JUDGE SITTING WITHOUT A JURY.
18. Auction Bidder and/or Buyer Default:
Successful Bidder and or Buyer not executing and returning the contract with earnest money deposit within 24 hours of the conclusion of the auction will be considered in default. In the event a winning Bidder and or Buyer fails to submit the signed Contract for Sale of Real Estate and earnest money deposit, the winning Bidder and or Buyer shall pay to Comas Montgomery Realty & Auction Company, Inc., as damages, an amount equal to the Buyer's premium or commission percentage, as set forth in said Contract, and any and all expenses incurred by the said Comas Montgomery Realty & Auction Company, Inc., for said auction. Should Buyer's earnest money check be returned for any reason whatsoever, this shall constitute an item of default, and in addition to the remedies previously stated hereinabove, Buyer shall also pay an additional penalty of five percent (5%) of the earnest money check to Comas Montgomery Realty & Auction Company, Inc. Buyer shall also pay a reasonable attorney's fee and costs incurred in the collection of these monies owed by Buyer as a result of Buyer's default. Buyer shall also pay the Seller any damages caused by said breach of contract, including attorney's fees and costs. This shall not preclude the Seller from suing for specific performance of the Contract of Sale, in addition to said damages. It is specifically understood and agreed by and between the Seller and Comas Montgomery Realty & Auction Company, Inc., that in the event the Buyer should default in the terms of this Contract in any manner whatsoever, that the earnest money, or sufficient sums therefore, shall be paid first to the agent for the Buyer's premium or commission percentage, and the balance, if any, to the Seller. Any disputes will be tried in a court of jurisdiction in Rutherford County, Tennessee. Comas Montgomery Realty & Auction Co., Inc. reserves the right to sell to the next highest qualified Bidder and or Buyer in the event the successful high Bidder and or Buyer does not comply with the terms of the sale. By bidding on the property, buyer agrees to all terms and conditions set forth. The contract is required to be fully and correctly completed, without any modifications and properly signed. A contract that is incomplete, incorrect, or modified in any respect, is considered to be in default.
19. Auction Cancellation – Bid Rejection:
Comas Montgomery Realty & Auction Co., Inc. reserves the right to reject any and all bids for any reason. Comas Montgomery Realty & Auction Co., Inc. reserves the right to cancel this auction, or remove any item or lot from this auction prior to the close of bidding even if a bid has been placed.
20. Acceptance of Bid Prices:
ALL BIDS ARE SUBJECT TO SELLER CONFIRMATION UNLESS NOTED AS ABSOLUTE. Successful Bidder and or Buyer(s) will be required to enter into a purchase agreement immediately following the close of the auction. Comas Montgomery Realty & Auction Co., Inc. will e-mail documents to be executed and fax or e-mail back to Comas Montgomery Realty & Auction Co., Inc. within 24 hours of the end of the auction. Successful Bidder and or Buyers not executing and returning contracts with earnest money deposit within 24 hours will be considered in default. Any and all inspections that a buyer may want must be completed at buyer’s expense prior to the close of the online bidding. Comas Montgomery Realty & Auction Co., Inc., Agents, Representatives or Employees may bid. Comas Montgomery Realty & Auction Co., Inc. reserves the right to sell to the next highest qualified Bidder and or Buyer if the winning Bidder and or Buyer is in default of these terms. Winning Bidder and or Buyer must execute the contract with no changes, modification, additions or deletion.
21. Title:
As specified in the Contract for Sale of Real Estate
22. Deed:
As specified in the Contract for Sale of Real Estate
23. Possession:
As specified in the Contract for Sale of Real Estate
24. Real Estate Taxes and Closing Cost:
UNLESS OTHERWISE STATED IN THE CONTRACT FOR SALE OF REAL ESTATE, all taxes will be prorated to day of closing using the most current available year’s tax amount. HOA fees and condominium assessments, if any, will be prorated up to the date of closing. The purchaser will pay all other closing costs associated with the purchaser’s side of the sale, including local and state recording fees and any cost associated with the purchaser’s loan.
25. Easements:
Subject to any and all easements of record.
26. Zoning:
This property is subject to all state and local zoning ordinances.
27. Acreage & Aerial Photos:
Parcel dimensions and acreages are based on legal descriptions. Aerial photos are for illustration purposes only and not surveyed boundary lines.
28. Bidder Verification:
The identity of all bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, Comas Montgomery Realty & Auction Co., Inc. will reject the registration, and bidding activity will be terminated. The Seller and Comas Montgomery Realty & Auction Co., Inc. reserve the right to preclude any person from bidding.
29. Bidder Responsibilities:
Bidder responsibilities include, but are not limited to: Bidders agree to keep their username and password confidential, as they are responsible for ANY and ALL activity involving their account. When using the web site you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges. Auction company employees and/or auction company may bid on auction. We gather aggregate information from the web site which may include but is not limited to: number of page visitors, most visited pages, and any and all correspondence.
30. Guaranty Agreement:
By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees earnest money payment to Comas Montgomery Realty & Auction Co., Inc.
31. Age Requirement:
All bidders must be eighteen (18) years of age or older.
Personal Property Terms:
32. Refresh Bidding:
Refresh your screen constantly during the closing minutes of the bidding, or Enable the 'Auto Refresh' feature.
33. Bidding Increments:
Each Comas Montgomery Realty & Auction Company Inc. auction may have different bidding increments. The software will calculate the next bid amount before submitting the bid.
34. Auction Ending:
Comas Montgomery Realty & Auction Co., Inc. Online Auctions are timed events and all bidding will close at a specified time. Comas Montgomery Realty & Auction Co., Inc. Online Auctions also have an auto-extend feature. Any bid placed in the final five (5) minutes of an auction, the auction ending will be automatically extended five (5) minutes from the time the bid was placed. Example: If an auction scheduled to close at 6:00 receives a bid at 5:59, the close time will automatically extend 6:04. The auto extend feature remains active until no further bids are received within a five (5) minute time frame. The extension time will apply to individual lots only.
35. Outbid Notification:
Until the auction begins to close, the bidding software will notify bidders by email when they have been outbid. Bidders may also find out if they have been outbid by refreshing the individual lot information. Due to varying internet connections/speed, please place a max bid or constantly monitor the auction at close of bidding. Sometimes email notifications can be delayed.
36. Property Information & Inspection:
Comas Montgomery Realty & Auction Co., Inc. is not responsible for any missing or incorrect listing information. Comas Montgomery Realty & Auction Co., Inc. has attempted to provide accurate descriptions of all items in the auction. However, it is the bidder's responsibility to inspect the item and determine the condition of each lot. Descriptions that are provided by Comas Montgomery Realty & Auction Co., Inc. are provided in good faith and are matters of opinion. The only recourse for the buyer of an item or items that are missing or damaged prior to pick up is not paying for the item.
If the pictures displayed with descriptions do not appear to match, contact [email protected] or call 615.895.0078 to report the auction date and item number.
37. Sold 'As Is Where Is':
Comas Montgomery Realty & Auction Co., Inc. and the seller furnish all auction items to buyers 'As Is', unsupported, without warranty of any kind. Comas Montgomery Realty & Auction Co., Inc. and the seller disclaims all warranties, express or implied, including the implied warranties of merchantability and fitness for a particular purpose. Items are sold in their actual current condition, with all faults and defects, and with all errors of description. Comas Montgomery Realty & Auction Co., Inc. liability to a purchaser will never exceed the purchase price actually paid for an item.
Bidders accept all auction items “with all faults”, whether or not immediately apparent. Bidders are responsible for ascertaining actual current condition through personal inspection and careful review of the description, pictures, video and/or support documentation. Every bidder agrees that his or her decision to bid and the amount he or she bids have been based solely on his or her own independent inspection and evaluation of the auction items.
38. Auctioneer's Discretion:
Comas Montgomery Realty & Auction Co., Inc. has full discretion to modify the date and time, order, and details of the sale of any item or conduct of any auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and convenience of Comas Montgomery Realty & Auction Co., Inc. or the seller. Comas Montgomery Realty & Auction Co., Inc. reserves the right to modify, change, or remove usernames at any time.
39. Server & Software Technical Issues:
In the event that there are technical difficulties related to the server, software or any other online auction-related technologies, Comas Montgomery Realty & Auction Co., Inc. reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor Comas Montgomery Realty & Auction Co., Inc. shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Email notifications may be sent to registered bidders with updated information as deemed necessary by Comas Montgomery Realty & Auction Co., Inc.
40. Terms:
Comas Montgomery Realty & Auction Co., Inc. reserves the right to reject any and all bids for any reason. An accepted bid is a legal binding contract. Items become the full responsibility of the bidder at the time that payment is received. The bidder assumes all risk of loss or damage to the item at that time. Comas Montgomery Realty & Auction Co., Inc. reserves the right to resell any personal property that is not paid for in full by the conclusion of the state pickup date. In any such event, the bidder will still be responsible for payment for the original purchase and the costs of collection of this payment and/or damages resulting for the resale of the property.
Buyer and or Bidder agrees to hold harmless and indemnify Comas Montgomery Realty & Auction Co., Inc. and its Agents, Owners, Directors, Employees and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.
41. Buyer's Premium:
There will be a ten percent (10%) Buyer’s Premium added to final bid price to determine the final selling price of the auction lot.
42. Payment:
Payment must be made before item(s) are removed by the specified date on the auction advertisement. All sales are final. There are no returns, refunds, or adjustments. Comas Montgomery Realty & Auction Co., Inc. accepts the following forms of payment: Cash, Wire Transfer, Cashier’s Check and Money Orders.
43. Auction Cancellation:
Comas Montgomery Realty & Auction Co., Inc. reserves the right to cancel this auction, or remove any item or lot from this auction prior to the close of bidding.
44. Bidder Verification:
The identity of all bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, Comas Montgomery Realty & Auction Co., Inc. will reject the registration, and bidding activity will be terminated. The Seller and Comas Montgomery Realty & Auction Co., Inc. reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, mental fitness, etc.
45. Bidder Responsibilities:
Bidder responsibilities include, but are not limited to: Bidders agree to keep their username and password confidential, as they are responsible for ANY and ALL activity involving their account. When using the web site you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges. Auction company employees and/or auction company may bid on auction. We gather aggregate information from the web site which may include but is not limited to: number of page visitors, most visited pages, and any and all correspondence.
46. Personal Property Pickup:
All items, must be picked up from the address listed on the auction, as well as the date listed, once Comas Montgomery Realty & Auction Co., Inc. has received and acknowledged payment in full. Items will not be released to buyers until payment is made in full to Comas Montgomery Realty & Auction Co., Inc. Bidders are responsible for rigging, loading, and moving all items purchased without assistance from Comas Montgomery Realty & Auction Co., Inc. If you are the winning bidder on large items, please bring help and equipment to load the item.
47. Security:
Surveillance and security are on site; please do not enter the property except at the specified preview date and time or by appointment.
48. Default:
If purchases are not settled by the specified pick up day, it will be considered in default. Upon default the bidder will be black listed/blocked from bidding on Comas Montgomery Realty & Auction Co., Inc. auctions, as well as MarkNet Alliance auctions and may be charged ten percent (10%) of bid price or five hundred dollars ($500), whichever is greater. All defaulted items may be offered to the next highest qualified bidder at the discretion of Comas Montgomery Realty & Auction Co., Inc.
The bidder agrees to pay all reasonable attorney fees and other costs incurred by Comas Montgomery Realty & Auction Co., Inc. in its efforts to collect unpaid funds from the bidder. The bidder agrees that a fee of two percent (2%) of the outstanding balance per month be added to any unpaid balance due Comas Montgomery Realty & Auction Co., Inc. Any dispute will be tried in a court of jurisdiction in Rutherford County, Tennessee.
EACH PARTY HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES (TO THE EXTENT PERMITTED BY APPLICABLE LAW) ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY OF ANY DISPUTE ARISING UNDER OR RELATING TO THIS AGREEMENT AND AGREES THAT ANY SUCH DISPUTE SHALL BE TRIED BEFORE A JUDGE SITTING WITHOUT A JURY.
49. Guaranty Agreement:
By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees payment to Comas Montgomery Realty & Auction Co., Inc. of any bid amount not paid when due by the business entity or corporation, for any reason, together with all collection expenses incurred to enforce collection, including a reasonable attorney's fee.
50. Limitation of Liability:
If, for any reason, Comas Montgomery Realty & Auction Co., Inc. is unable to make available or deliver any Purchase, or portion thereof, or documentation required in respect of any Purchase at time of pickup, the sole liability of Comas Montgomery Realty & Auction Co., Inc., if any, shall be the return of any paid monies in respect of such Purchase upon its return by Purchaser.
51. Disputes:
Any dispute between Comas Montgomery Realty & Auction Co., Inc., its Agents or Representatives and the Buyer(s) will be tried in a court of jurisdiction in Rutherford County, Tennessee. By bidding on any item, buyer agrees to all terms and conditions set forth.
52. Age Requirement:
All bidders must be eighteen (18) years of age or older.
53. Firearms Regulations:
Bidders must abide by any local, state, or federal laws set forth on any firearm purchases.