GENERAL AUCTION TERMS AND CONDITIONS
LESLIE B. LASSITER ESTATE
4521 AUSTIN SPRINGS ROAD, DUKEDOM, TN 38226
REAL ESTATE AUCTION
ON-LINE ONLY AUCTION – Extend All Dynamic Bidding Auction
BIDDING ENDS TUESDAY, MAY 16TH, 2023 @ 12 NOON
BIDDERS MUST REGISTER WITH ALEXANDER AUCTIONS & REAL ESTATE SALES
AT WEBSITE (www.alexanderauctions.com)
BIDDERS SHOULD REVIEW ALL ONLINE TERMS PRIOR TO BIDDING!
1. ALEXANDER AUCTIONS AND REAL ESTATE SALES HAS BEEN COMMISSIONED BY STEVE LASSITER, EXECUTOR TO SELL THIS PROPERTY AT PUBLIC AUCTION.
2. REAL ESTATE CONSISTS OF 63.132 AC., AND IMPROVEMENTS IN WEAKLEY COUNTY, TENNESSEE
3. PROPERTY IS OFFERED IN 5 TRACTS. NO COMBINATIONS OF TRACTS WILL BE OFFERED.
ORIGINAL DEED REFERENCE: DEED BOOK 399 PAGE 406
REGISTER’S OFFICE WEAKLEY COUNTY, TENN. 38225
PROPERTY TAX MAP 021 PARCEL 005.00
ASSESSOR’S OFFICE WEAKLEY COUNTY, TENN. 38225
2022 PROPERTY TAXES
4. TRACT 1 – 3.785 AC. RESIDENCE, BARN, AND STORAGE BUILDING AT INTERSECTION OF AUSTIN SPRINGS ROAD & CECIL DAVIS ROAD. ON AUSTIN SPRINGS ROAD & ON CECIL DAVIS ROAD.
5. TRACT 2 – 7.763 AC. SOUTH AND EAST OF TRACT 1 ON AUSTIN SPRINGS ROAD AND CECIL DAVIS ROAD.
6. TRACT 3 – 5.976 AC. ON AUSTIN SPRINGS ROAD 100 FT NORTH OF STEVEN LASSITER RESIDENCE and FRONTAGE SOUTH OF STEVEN LASSITER. 2 ACRES RENTED FOR ROW CROP FOR 2023.
7. TRACT 4 – 18.677 AC. FRONTAGE ON SOUTH SIDE OF CECIL DAVIS ROAD EAST AND JOINING TRACT 2 AND TRACT 3.5 ACRES ON THE SOUTH BOUNDARY RENTED FOR ROW CROP FOR 2023. DRAINAGE DITCH DIVIDES TRACTS.
8. TRACT 5 - 26.931 AC. FRONTAGE ON WEST SIDE OF AUSTIN SPRINGS ROAD ACROSS FROM TRACT 1, 2, & 3. 7.6 ACRES OF WOODS. TILLABLE LAND CURRENTLY RENTED TO ROW CROP FOR 2023.
9. CONDITIONS OF SALE: PROPERTY IS BEING OFFERED IN AN ONLINE AUCTION. THIS AUCTION HAS AN EXTEND-ALL FEATURE.
10. BIDDER SHOULD REVIEW THESE TERMS, THE SALES & PURCHASE AGREEMENT (CONTRACT), AND OTHER EXHIBITS POSTED ONLINE AND IN THE DUE DILIGENCE REPORT.
11. BUYER’S PREMIUM: A 10% BUYER'S PREMIUM WILL BE ADDED TO THE FINAL BID ON THE REAL ESTATE TO REACH THE TOTAL SALES PRICE AND TOTAL CONTRACT PRICE.
12. BIDDERS AND BUYERS MUST AGREE TO THESE AUCTION TERMS & CONDITIONS AND EXHIBITS INCLUDED WITH THE TERMS ONLINE BEFORE BIDDING. YOUR ACCEPTANCE OF THE TERMS AND CONDITIONS AND EXHIBITS ARE APPROVED BY YOU REGISTERING FOR A BIDDER NUMBER.
13. PURCHASE AGREEMENT: AFTER THE CLOSE OF THE AUCTION, THE SUCCESSFUL BIDDER WILL BE EMAILED A SALES AND PURCHASE AGREEMENT/CONTRACT TO BE SIGNED AND RETURNED TO ALEXANDER AUCTIONS & REAL ESTATE SALES WITHIN 24 HOURS OF COMPLETION OF THE AUCTION, ALONG WITH THE REQUIRED EARNEST MONEY DEPOSIT.
14. EARNEST MONEY: THE SUCCESSFUL BIDDER IS REQUIRED TO MAKE AN EARNEST MONEY DEPOSIT OF 20% OF THE TOTAL SALES PRICE AND CONTRACT PRICE ON ANY TRACT OF REAL ESTATE, WITHIN 24 HOURS AFTER THE AUCTION CLOSES, WHEN THE PURCHASE AGREEMENT IS SIGNED. EARNEST MONEY IS NON-REFUNDABLE.
15. EARNEST MONEY PAYMENT: EARNEST MONEY PAYABLE BY CASH, WIRE TRANSFER, CASHIER’S CHECK OR PERSONAL CHECK WITH CURRENT BANK LETTER OF GUARANTY MADE TO ALEXANDER AUCTIONS. SEE SAMPLE COPY OF BANK LETTER OF GUARANTY AT WEBSITE ONLINE. NO CREDIT CARD PAYMENTS AND NO LETTERS OF INTENT ACCEPTED FOR PAYMENT.
16. CASH OFFER: BUYER(S) MUST BE PREPARED TO MAKE A CASH OFFER. THERE ARE NO CONTINGENCIES TO THIS SALE (I.E., FINANCING, APPRAISAL, REPAIRS, OR INSPECTIONS). THEREFORE, YOU SHOULD BE PRE-QUALIFIED BY A LENDER PRIOR TO BIDDING IF YOU REQUIRE FINANCING. THIS PROPERTY IS BEING SOLD FOR CASH “AS-IS, WHERE-IS” WITH A CLOSING DEADLINE.
17. CLOSING DATE: BALANCE OF THE PURCHASE PRICE SHALL BE DUE ON OR BEFORE JULY 7TH , 2023.
18. FAILURE TO CLOSE AND PAY THE BALANCE DUE AT CLOSING WILL REQUIRE BUYER TO FORFEIT THE EARNEST MONEY AND IS SUBJECT TO THE ALL THE TERMS STATED IN THESE TERMS & CONDITIONS AND THE PURCHASE AGREEMENT.
19. LIQUIDATED DAMAGES: SUCCESSFUL BIDDERS NOT EXECUTING AND RETURNING THEIR PURCHASE AGREEMENT ALONG WITH EARNEST MONEY DEPOSIT WITHIN FORTY-EIGHT (48) HOURS OF THE CONCLUSION OF THE AUCTION WILL BE CONSIDERED IN DEFAULT. IF YOUR CLOSING IS DELAYED FOR ANY REASON, BY YOU, AS PURCHASER, OR OTHER PARTIES WORKING ON YOUR BEHALF, INCLUDING ANY LENDER YOU INVOLVE, YOU MAY BE DECLARED IN BREACH OF THIS CONTRACT, FORFEIT ALL DEPOSITS MADE AND COULD ADDITIONALLY BE LIABLE FOR ANY AND ALL COST INCURRED BY SELLER AND ALEXANDER AUCTIONS AND REAL ESTATE SALES INCURRED IN A SUBSEQUENT RESALE OF THE PROPERTY. IF SUCH ACTION OCCURS, ALEXANDER AUCTIONS AND REAL ESTATE SALES HEREBY HAS THE RIGHT TO DISPERSE THE DEPOSIT AS STATED IN THE LISTING AGREEMENT AND THE BUYER HAS NO CLAIMS TO SUCH MONEY OR PROPERTY BEING SOLD. LIQUIDATED DAMAGES ARE TO COVER COST OF AUCTION, COST INCURRED BY SELLER, LABOR COST AND ADDITIONAL COST OF AUCTION AS NOT DEFINED IN THIS AGREEMENT. THESE LIQUIDATED DAMAGES DO NOT RESTRICT THE SELLER FROM SUING THE BUYER FOR PERFORMANCE DAMAGES AND/OR ANY ADDITIONAL DAMAGES THE SELLER SUFFERS BY THE DEFAULT OF THE BUYER.
20. COMPLIANCE WITH THE TERMS OF SALE: 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 PURCHASE AGREEMENT (CONTRACT) FOR SALE OF REAL ESTATE AND EARNEST MONEY DEPOSIT, THE WINNING BIDDER AND OR BUYER SHALL PAY TO ALEXANDER AUCTIONS ANY 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 ALEXANDER AUCTIONS 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 ALEXANDER AUCTIONS. 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 ALEXANDER AUCTIONS 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 WEAKLEY COUNTY, TENNESSEE. ALEXANDER AUCTIONS RESERVES THE RIGHT TO SELL TO THE NEXT HIGHEST QUALIFIED BIDDER OR ANY OTHER BIDDER 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.
21. COMMISSION: PURCHASER AGREES TO PAY A 10% BUYERS PREMIUM OF THE BID PRICE UPON CLOSING, WHICH IS EQUAL TO THE AGREED UPON COMMISSION BETWEEN SELLER, AGENT AND PURCHASER. PURCHASER RECOGNIZES AND AGREES THAT THE 10% PREMIUM PAID AS COMMISSION IS THIS TRANSACTION DOES NOT CONSTITUTE PURCHASER REPRESENTATION.
22. POSSESSION OF TRACT 1 WILL BE GIVEN AT CLOSING AND DEED TRANSFER.
23. POSSESSION OF TRACT 2 THROUGH TRACT 4 (SUBJECT TO AREAS LEASED FOR 2023) SHALL BE GIVEN UPON DEPOSIT OF THE EARNEST MONEY IN ALEXANDER AUCTIONS ESCROW ACCOUNT SUBJECT TO THE CLEARANCE OF ANY CHECKS OR WIRE TRANSFER DEPOSITS.
24. 2023 TAXES : TOTAL TAXES FOR 2022 - $757.00. TRACT 1 2023 TAXES PRORATED AT CLOSING; 2023 TAXES ON TRACTS 2, 3, 4, AND 5 ARE TO BE ASSUMED BY BUYER.
25. GREENBELT ROLL BACK TAXES – BUYER TO ASSUME ANY ROLL BACK TAXES WHICH ARE ASSESSED TO ANY TRACTS CONSISTING 15 ACRES OR MORE AND ON ANY COMBINATION OF TRACTS TOTALING 15 ACRES OR MORE WHICH ARE ELIGIBLE FOR GREENBELT PROGRAM. SELLER WILL PAY FOR ANY ROLL BACK TAXES WHICH ARE ASSESSED TO ANY TRACT NOT ELIGIBLE FOR THE GREENBELT PROGRAM.
26. GREENBELT TAXES: PURCHASER TO PAY ANY ROLL BACK TAXES THAT MAY BECOME DUE ON ANY TRACT OR COMBINATION OF TRACTS ELIGIBLE FOR GREENBELT OR BECAUSE NEW BUYER ELECTS NOT TO ENROLL THE PROPERTY IN THE GREENBELT PROGRAM.
27. CLOSING DELAY: IF YOUR CLOSING IS DELAYED FOR ANY REASON, BY YOU, AS PURCHASER, OR OTHER PARTIES WORKING ON YOUR BEHALF, INCLUDING ANY LENDER YOU INVOLVE, YOU MAY BE DECLARED IN BREACH OF THIS CONTRACT, FORFEIT ALL DEPOSITS MADE AND COULD ADDITIONALLY BE LIABLE FOR ANY AND ALL COST INCURRED, IN A SUBSEQUENT RESALE OF THE PROPERTY, BY SELLER AND ALEXANDER AUCTIONS. IF SUCH ACTION OCCURS, ALEXANDER AUCTIONS HEREBY HAS THE RIGHT TO DISPERSE THE DEPOSIT AS STATED IN THE LISTING AGREEMENT AND THE BUYER HAS NO CLAIMS TO SUCH MONEY OR PROPERTY BEING SOLD. LIQUIDATED DAMAGES ARE TO COVER THE AUCTIONEER’S COMMISSION, COST OF AUCTION, COST INCURRED BY SELLER, LABOR COST AND ADDITIONAL COST OF AUCTION AS NOT DEFINED IN THIS AGREEMENT. THESE LIQUIDATED DAMAGES DO NOT RESTRICT THE SELLER FROM SUING THE BUYER FOR PERFORMANCE DAMAGES AND/OR ANY ADDITIONAL DAMAGES THE SELLER SUFFERS BY THE DEFAULT OF THE BUYER.
28. TITLE: DEED TRANSFER WILL BE BY WARRANTY DEED SIGNED BY THE EXECUTOR.
29. INSPECTION: PROSPECTIVE PURCHASER(S) SHOULD INSPECT AND REVIEW THE PROPERTY TO BECOME FAMILIAR WITH THE PROPERTY BOUNDARY LINES AND THE PHYSICAL CONDITION OF THE IMPROVEMENTS AND COMPLETE THEIR OWN DUE DILIGENCE RESEARCH.
30. DEED DESCRIPTIONS: PROPERTY WILL BE SOLD ACCORDING TO THE NEW SURVEY LEGAL DESCRIPTIONS OR THE NEW SURVEYS FOR THE INDIVIDUAL TRACTS.
31. SURVEY: PROPERTY HAS A CURRENT SURVEY COMPLETED BY SERATT SURVEYING, LLC., THOMAS L. SERATT III, DATED APRIL 20, 2023.
32. SURVEY COST: BUYER TO PAY $300.00 SURVEY COST FOR EACH TRACT PURCHASED AT CLOSING. SELLER TO PAY BALANCE OF SURVEY.
33. AGENCY DISCLOSURE: ALEXANDER AUCTIONS AND REAL ESTATE SALES AND ALL AGENTS WORKING AT THIS AUCTION ARE ACTING AS AN AGENT FOR THE SELLER.
34. BIDDING: NO ONE SHOULD MAKE A BID THAT HE/SHE DOES NOT WANT TO HONOR OR IS NOT FINANCIALLY ABLE TO HONOR.
35. CONTINGENCIES: NO PURCHASE IS CONTINGENT ON FINANCING, APPRAISALS, PROPERTY INSPECTIONS OR ANY OTHER CONTINGENCIES.
36. DUE DILIGENCE: ANY INFORMATION SUPPLIED IN THE TERMS AND CONDITIONS CONCERNING THE PROPERTY INFORMATION AND TAX AMOUNTS ARE SUPPLIED TO ACCOMMODATE THE PURCHASER(S). IT IS THE PURCHASER’S SOLE RESPONSIBILITY TO COMPLETE THEIR OWN DUE DILIGENCE SURVEY, RESEARCH, INSPECTION, CHECKING AND BID ACCORDING TO THEIR DUE DILIGENT SURVEY AND RESEARCH.
37. EASEMENTS: PROPERTY SELLS SUBJECT TO EXISTING EASEMENTS AND SUBJECT TO ANY RECORDED EASEMENTS.
38. RESTRICTIONS: REAL ESTATE SELLS SUBJECT TO ANY AND ALL EXISTING MATTER OF RECORDS, EASEMENTS, CITY, COUNTY AND STATE, BUILDING, USE OR ZONING LAWS AND RESTRICTIONS.
39. ENVIRONMENTAL ASSESSMENTS: SELLERS HAVE NOT REQUESTED NOR HAD ANY ENVIRONMENTAL ASSESSMENTS RUN ON THIS PROPERTY. SOME HOUSEHOLD AND FARM TRASH HAS BEEN DEPOSITED IN A SPOT OR TWO TO STOP EROSION.
40. ENVIRONMENTAL DISCLOSURE: AUCTIONEER AND BROKER AND SELLERS ARE NOT EXPERT IN DETERMINING ENVIRONMENTAL HAZARDS AND HAZARDOUS MATERIAL. BUYERS ACCEPT THESE IMPROVEMENTS AND LAND IN ITS PRESENT CONDITION. BUYER AGREES TO HOLD HARMLESS ALEXANDER AUCTIONS & REAL ESTATE SALES, THE BROKER, AUCTIONEER AND THE SELLERS FROM ANY ENVIRONMENTAL HAZARDS AND FROM ANY CLAIMS IN CONNECTION WITH ENVIRONMENTAL HAZARDS.
41. SOIL EVALUATION: THE OWNERS, SELLERS AND SALES MANAGEMENT HAVE NOT HAD OR REQUESTED ANY PERK TEST OR SOIL CLASSIFICATION INSPECTIONS TO BE COMPLETED BY THE GROUND WATER PROTECTION AGENCY OR ANY SOIL SCIENTIST TO DETERMINE THE APPROVAL OR REQUIREMENTS FOR SEPTIC TANKS OR SEPTIC LINES FOR ANY OF THE TRACTS.
42. GROUND WATER PROTECTION AUTHORITY: PURCHASER(S) SHALL BE RESPONSIBLE FOR CONTACTING THE WEAKLEY COUNTY GROUND WATER PROTECTION AGENCY AND/OR AN APPROVED TENNESSEE SOIL SCIENTIST TO OBTAIN A SOIL ANALYSIS AND APPROVAL FOR A SEPTIC SYSTEM. ALEXANDER AUCTIONS AND THE SELLERS MAKE NO WARRANTY OR GUARANTY AS TO SOIL TYPES AND SOIL APPROVAL FOR A SEPTIC/SEWAGE SYSTEM.
43. SEPTIC SYSTEMS: ALEXANDER AUCTIONS AND THE SELLER HAVE NO KNOWLEDGE ABOUT THE EXISTENCE OF A SEPTIC SYSTEM ON ANY TRACT EXCEPT TRACT 1. ALEXANDER AND SELLER HAVE NO KNOWLEDGE OF THE CONDITION OF WELL AND SEPTIC SYSTEM ON TRACT 1 EXCEPT THAT THE WATER IS ON AND THE BATH ROOMS ARE FUNCTIONING.
44. “AS IS”: PROPERTY AND IMPROVEMENTS ARE BEING SOLD IN THEIR PRESENT CONDITION “AS IS”. NO IMPROVEMENTS WILL BE MADE. THERE ARE NO WARRANTIES OR GUARANTEES EXPRESSED OR IMPLIED AS TO CONDITION OR FITNESS FOR USE. THE WARRANTIES OF HABITABILITY AND FITNESS FOR A PARTICULAR PURPOSE AND PARTICULAR USE ARE EXPRESSLY EXCLUDED.
45. INSPECTION OPPORTUNITY: PURCHASER AND PURCHASER’S REPRESENTATIVES HAVE HAD THE OPPORTUNITY TO INSPECT THIS PROPERTY AND AGREE ALL BIDS ARE MADE SUBJECT TO THEIR INSPECTIONS AND DUE DILIGENCE RESULTS AND PURCHASE SAID PROPERTY AS A RESULT OF THEIR INSPECTION.
46. WARRANTIES OR REPRESENTATION: ALEXANDER AUCTIONS AND SELLER HAS NOT MADE, DOES NOT MAKE, AND EXPRESSLY DISCLAIMS, ANY WARRANTIES, REPRESENTATIONS, COVENANTS OR GUARANTEES, EXPRESSED OR IMPLIED OR ARISING OUT BY OPERATION OF LAW, AS TO THE MERCHANTABILITY, HABITABILITY, QUANTITY, QUALITY OR ENVIRONMENTAL CONDITION OF THE PROPERTY OR ITS SUITABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OR PARTICULAR USE.
47. AUCTIONEER’S DISCRETION: ALEXANDER AUCTIONS HAS FULL DISCRETION TO MODIFY DATE AND TIME, ORDER AND DETAILS OF THE AUCTION FOR ANY REASON OR NO REASON AT ALL, INCLUDING BUT NOT LIMITED TO TECHNICAL ISSUES INCLUDING BUT NOT LIMITED TO INTERNET DIFFICULTIES, EMERGENCIES AND CONVENIENCE, ALEXANDER AUCTIONS RESERVES THE RIGHT TO MODIFY, CHANGE OR REMOVE USER NAMES AT ANY TIME.
48. TIME EXTENSION: ALEXANDER ONLINE AUCTIONS HAVE AN AUTO-EXTEND BIDDING FEATURE.
49. TIME INCREASE OR DECREASE: ALEXANDER AUCTIONS MAY INCREASE OR DECREASE THE EXTENDED BIDDING TIME AMOUNT AT ANY TIME DURING THE AUCTION UNTIL THE CLOSE OF BIDDING.
50. ALEXANDER AUCTIONS USES TWO TYPES OF EXTENDED BIDDING PLATFORMS.
51. PLATFORM TYPE 1 - EXTENDED BIDDING FEATURE: ALEXANDER’S AUCTIONS ARE TIMED EVENTS AND BIDDING WILL CLOSE AT A SPECIFIC TIME. ALEXANDER AUCTIONS ALSO HAVE AN AUTO-EXTEND FEATURE. WHEN ANY BID IS PLACED IN THE FINAL FIVE MINUTES OF AN AUCTION ON ANY ITEM, THE AUCTION ENDING TIME WILL BE AUTOMATICALLY EXTENDED FIVE (5) MINUTES FROM THE PUBLISHED CLOSING TIME. EXAMPLE: IF AN AUCTION SCHEDULED TO CLOSE AT 12:00 NOON RECEIVES A BID AT 11:56 THE CLOSE TIME WILL AUTOMATICALLY EXTEND TO 12:05. THE AUTO-EXTEND FEATURE REMAINS ACTIVE UNTIL NO FURTHER BIDS ARE RECEIVED WITHIN A FIVE (5) MINUTE TIME FRAME ON THE REAL ESTATE OR A PERSONAL PROPERTY LOT
52. PLATFORM TYPE 2 – EXTEND ALL DYNAMIC BIDDING: THIS AUCTION HAS AN EXTEND-ALL BIDDING FEATURE. ANY TIME ANY TRACT OF REAL ESTATE OR PERSONAL PROPERTY LOT IS BID ON WITHIN THE LAST 5 MINUTES, ALL TRACTS AND PERSONAL PROPERTY LOTS EXTEND 5 MINUTES MORE THE ENTIRE AUCTION REMAINS OPEN. ALL REAL ESTATE AND PERSONAL PROPERTY LOTS WILL CLOSE SIMULTANEOUSLY AT THE SAME TIME, WHEN NO BIDS ARE PLACED WITHIN THE LAST FIVE MINUTES ON ANY TRACT OF REAL ESTATE OR ANY OTHER LOT.
53. BID CLOSING: IN AN EXTEND ALL DYNAMIC BIDDING AUCTION, ALL TRACTS AND LOTS WILL CLOSE AT THE SAME TIME. NO TRACTS OR LOTS WILL BE COMBINED.
54. REFRESH BIDDING: REFRESH YOUR SCREEN CONSTANTLY DURING THE CLOSING MINUTES OF THE BIDDING OR ENABLE THE “AUTO-REFRESH” FEATURE.
55. SERVER & SOFTWARE TECHNICAL ISSUES: IN THE EVENT THAT THERE ARE TECHNICAL DIFFICULTIES RELATED TO THE SERVER, SOFTWARE OR ANY OTHER ONLINE AUCTION RELATED TECHNOLOGY, ALEXANDER AUCTIONS RESERVES THE RIGHT TO EXTEND BIDDING, CONTINUE THE BIDDING, CLOSE THE BIDDING OR INCREASE OR DECREASE THE EXTENDED AMOUNT OF TIME AT THE END OF THE AUCTION. NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR ALEXANDER AUCTIONS WILL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON.
56. BIDDING INCREMENTS: ALEXANDER AUCTIONS MAY HAVE DIFFERENT BIDDING INCREMENTS. THE BIDDING SOFTWARE WILL CALCULATE THE NEXT BID AMOUNT BEFORE YOU SUBMIT THE BID. ALEXANDER AUCTIONS RETAINS THE RIGHT TO CHANGE BIDDING INCREMENTS AT ANY TIME.
57. IF THE BIDDING INCREMENTS ARE NOT MET ON TRACTS OR LOTS, YOUR BID WILL NOT BE ACCEPTED.
58. AGENCY: ALEXANDER AUCTIONS AGENTS AND REPRESENTATIVES ARE AGENTS FOR THE SELLER. BUYER AND OR BIDDER AGREES TO HOLD HARMLESS AND INDEMNIFY ALEXANDER AUCTIONS AND ITS REPRESENTATIVES FROM ANY AND ALL CLAIMS, DAMAGES OR SUITS INCLUDING BUT NOT LIMITED TO AWARDS, JUDGMENTS, COSTS, FEES, ETC.
59. BACK-UP BIDS: IF YOU ARE NOT THE SUCCESSFUL BIDDER ON THE REAL ESTATE OR A PERSONAL PROPERTY LOT AND WISH TO MAKE A BACK-UP BID IN CASE OF DEFAULT BY THE HIGH BIDDER, PLEASE CONTACT ALEXANDER AUCTIONS TO RECEIVE A BACK-UP BIDDER FORM. EMAIL NOTIFICATION MAY BE SENT TO REGISTERED BIDDERS WITH UPDATED INFORMATION AS DEEMED NECESSARY BY THE AUCTION COMPANY.
60. OFF-SITE BIDDING: BIDDERS WHO BID OFF-SITE AND DO NOT MAKE AN INSPECTION UNDERSTAND AND ACKNOWLEDGE THAT THEY MAY NOT BE ABLE TO INSPECT THE PROPERTY AS WELL AS IF THEY EXAMINED IT IN PERSON. IT IS THE BIDDER’S RESPONSIBILITY TO DETERMINE CONDITION, AGE, GENUINENESS, VALUE OR ANY OTHER DETERMINATIVE FACTOR.
61. BIDDING APPROVAL: ALEXANDER AUCTIONS RESERVES THE RIGHT TO REMOVE OR CANCEL THE BIDS AND OR BIDDING RIGHTS AND PRIVILEGES OF ANY PARTY AT ANY TIME DEEMED NOT TO BE IN THE BEST INTEREST OF THE SELLER. THE IDENTITY OF ALL BIDDERS WILL BE VERIFIED, BIDDING RIGHTS ARE PROVISIONAL AND IF COMPLETE VERIFICATION IS NOT POSSIBLE, ALEXANDER AUCTIONS WILL REJECT THE REGISTRATION, AND BIDDING ACTIVITY WILL BE TERMINATED.
62. AUCTION CANCELLATION – BID REJECTION: ALEXANDER AUCTIONS RESERVES THE RIGHT TO REJECT ANY AND ALL BIDS FOR ANY REASON. ALEXANDER AUCTIONS 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, IN THE EVENT OF AN INTERNET FAILURE OR IF THE BIDDING PLATFORM FAILS OR CRASHES.
63. ACCEPTANCE OF BID PRICES: THE AUCTIONEER SHALL MAKE THE SOLE AND FINAL DECISION AS TO THE WINNING HIGH BID AMOUNT. ACCEPTANCE BY THE ONLINE BIDDING PLATFORM DOES NOT NECESSARILY CONSTITUTE AN ACCEPTED BID BY THE AUCTIONEER. SUCCESSFUL BIDDER AND OR BUYER(S) WILL BE REQUIRED TO ENTER INTO A PURCHASE AGREEMENT CONTRACT IMMEDIATELY FOLLOWING THE CLOSE OF THE AUCTION. ALEXANDER AUCTIONS WILL EMAIL DOCUMENTS TO BE EXECUTED AND FAX OR EMAIL BACK TO ALEXANDER AUCTIONS WITHIN 24 HOURS OF THE END OF THE AUCTION. SUCCESSFUL BIDDER AND OR BUYER(S) NOT EXECUTING AND RETURNING CONTRACTS WITH EARNEST MONEY DEPOSIT WITHIN 24 HOURS WILL BE CONSIDERED IN DEFAULT. ALEXANDER AUCTIONS RESERVES THE RIGHT TO SELL TO THE NEXT HIGHEST QUALIFIED BIDDER OR ANOTHER 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.
64. ALEXANDER AUCTIONS INVOLVEMENT IN THIS CONTRACT: BOTH THE SELLER AND BUYER HEREBY AGREE THAT ALEXANDER AUCTIONS & REAL ESTATE SALES IS THE PROCURING CAUSE OF THE SALE CONTRACT AND SHALL RECEIVE COMPENSATION AS STATED IN THE AGREEMENT HERETO OR AS STATED IN THE LISTING AGREEMENT HEREBY MADE A PART OF.
65. NO WARRANTY: PREREQUISITE TO BIDDING IS THAT THE REAL ESTATE AND PERSONAL PROPERTY IS PURCHASED ABSOLUTELY “AS IS” WITH NO WARRANTY WHATSOEVER AS TO THE CONDITION OF THE SAME.
66. CLOSING REQUIREMENTS: PURCHASERS SHOULD CONTACT THEIR ATTORNEY OR TITLE COMPANY TO COMPLETE THEIR TITLE OPINION IMMEDIATELY. CONTRACT DOES NOT PROVIDE FOR AN EXTENSION DUE TO AN ATTORNEY OR TITLE COMPANY FAILING TO COMPLETE TITLE WORK OR YOUR LOAN CLOSING NOT BEING SET UP TO CLOSE ON OR BEFORE APRIL 25TH, 2022.
67. RISK OF LOSS: ANY RISK OF LOSS TO THE PROPERTY SHALL BE BORNE BY SELLER UNTIL DEED HAS BEEN CONVEYED TO THE PURCHASER.
68. TERMINOLOGY: AS THE CONTEXT MAY REQUIRE IN THESE TERMS (1) THE SINGULAR SHALL MEAN THE PLURAL AND VICE VERSA; (2) ALL PRONOUNS SHALL MEAN AND INCLUDE THE PERSON, ENTITY, FIRM OR CORPORATION TO WHICH THEY RELATE.
69. ADDITIONAL AUCTION INFORMATION: ALL INFORMATION PUBLISHED, ANNOUNCED OR CONTAINED HEREIN WAS DERIVED FROM SOURCES BELIEVED TO BE CORRECT; HOWEVER, IT IS NOT GUARANTEED BY THE SELLER OR THE AUCTIONEER. PERSONAL ON-SITE INSPECTION OF ALL PROPERTY IS RECOMMENDED. THE FAILURE OF ANY BIDDER TO INSPECT, OR TO BE FULLY INFORMED AS TO THE CONDITION OF THE PROPERTY, WILL NOT CONSTITUTE GROUNDS FOR ANY CLAIM OR DEMAND FOR ADJUSTMENT OR WITHDRAWAL OF BID, OFFER OR DEPOSIT MONEY AFTER ITS OPENING TENDER. THIS INCLUDES BUT IS NOT LIMITED TO PUBLIC INFORMATION SUCH AS EASEMENTS, RESTRICTIONS, ZONING, RIGHTS-OF-WAY, OR ANY OTHER INFORMATION THAT CAN BE OBTAINED AS PUBLIC RECORD IN THE APPROPRIATE COUNTY COURTHOUSE CONCERNING SUBJECT PROPERTIES.
70. INTERNET BIDDING: INTERNET BIDDERS WHO DESIRE TO MAKE CERTAIN THEIR BID IS ACKNOWLEDGED SHOULD LEAVE THEIR MAXIMUM BID 24 HOURS BEFORE THE AUCTION ENDS. EMAIL NOTIFICATIONS MAY BE SENT TO REGISTERED BIDDERS WITH UPDATED INFORMATION AS DEEMED NECESSARY BY ALEXANDER AUCTIONS.
71. IF YOU HAVE ANY PROBLEMS WITH THE WEBSITE, CALL MARKNET CUSTOMER SERVICE AT 1-888-307-6545 AND/OR ALEXANDER AUCTIONS AT (731) 587-4244.
72. HEALTH RISK: I UNDERSTAND THE RISK ASSOCIATED WITH BEING OUTSIDE OF MY HOME AND THE PROXIMITY OF OTHERS DURING THE COVID-19 VIRUS PANDEMIC. I UNDERSTAND THE COVID-19 VIRUS IS HIGHLY INFECTIOUS AND CONTAGIOUS. I ACKNOWLEDGE THE ACTIVITIES TO WHICH THIS RELEASE APPLIES CAN BE DANGEROUS, I AM ACCEPTING THOSE RISKS FOR MYSELF AND FOR ANY PARTICIPANTS WHO MAY BE IN MY CARE. I ACKNOWLEDGE RECEIPT OF THE COVID-19 SAFE PRACTICES SHEET DETAILED AT ALEXANDER AUCTIONS & REAL ESTATE SALES WEBSITE. I FURTHER ACKNOWLEDGE THAT I AM FAMILIAR WITH LOCAL, STATE AND FEDERAL GUIDELINES AND EXECUTIVE ORDERS RELATED TO THE COVID-19 VIRUS AND SOCIAL DISTANCING. I AM PARTICIPATING AT THE AUCTION OF MY OWN FREE WILL.
73. LIABILITY WAIVER AND RELEASE: BY AGREEING TO THESE TERMS AND BIDDING ON THIS AUCTION, YOU VOLUNTARILY RELEASE, INDEMNIFY, DEFEND AND HOLD ALEXANDER AUCTIONS & REAL ESTATE SALES AND SELLER, AND THEIR RESPECTIVE AGENTS AND EMPLOYEES (EACH A “RELEASED PARTY”) FROM ANY AND ALL LIABILITIES, CLAIMS, LOSSES, CAUSES OF ACTION OR EXPENSE OF ANY KIND, INCLUDING REASONABLE ATTORNEYS’ FEES, RESULTING FROM A RELEASED PARTY’S NEGLIGENT ACT OR OMISSION, ARISING OUT OF MY PARTICIPATION IN AND PRESENCE WHETHER RELATED TO BODILY INJURY, INFECTION DUE TO COVID-19 VIRUS, PROPERTY DAMAGE, OR ANY OTHER FORM OF INJURY OR LOSS IN REGARD TO INSPECTION DAYS AND PAYMENT AND REMOVAL DAYS OF MY PHYSICAL ITEMS PURCHASED AT THE DYERSBURG ELEVATOR COMPANY AUCTION.
74. AUCTION NOTIFICATION: PROPERTY IS BEING SOLD SUBJECT TO THESE TERMS AND CONDITIONS AND EXHIBITS AND ATTACHMENTS WHICH WILL BE ATTACHED TO THE PURCHASE AND SALE AGREEMENT (CONTRACT) FOR FUTURE REFERENCE.
75. REVIEW THE PERSONAL PROPERY TERMS AND THE REMOVAL OF PERSONAL PROPERTY TERMS FOR ANY PERSONAL PROPERTY IN THE AUCTION.
76. PLEASE DO NOT WIRE FUNDS WITHOUT VERBALLY VERIFYING THE WIRING INSTRUCTIONS AND CASH TO CLOSE AMOUNT PRIOR WITH SOMEONE FROM OUR OFFICE. REMEMBER: INQUIRE BEFORE YOU WIRE. WARNING – FRAUDULENT FUNDING INSTRUCTIONS: EMAIL HACKING AND FRAUD ARE ON THE RISE TO FRAUDULENTLY MISDIRECT FUNDS. PLEASE CALL OUR OFFICE IMMEDIATELY USING CONTACT INFORMATION FOUND FROM AN INDEPENDENT SOURCE, SUCH AS THE SALES CONTRACT, INVOICE OR INTERNET TO VERIFY ANY FUNDING INSTRUCTIONS RECEIVED. WE ARE NOT RESPONSIBLE FOR ANY WIRES SENT BY YOU TO AN INCORRECT BANK ACCOUNT.
77. ACCEPTANCE: ALL BIDDERS AGREE AND ACCEPT THESE TERMS AND CONDITIONS AND AGREE TO BID ACCORDING TO THESE TERMS BY REGISTERING FOR A BID NUMBER.
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
239 University St., Martin, TN 38237
Office: (731) 587-4244 * Cell: (731) 225-7368
Email: [email protected]
GENERAL AUCTION TERMS AND CONDITIONS
LESLIE B. LASSITER ESTATE
4521 AUSTIN SPRINGS ROAD, DUKEDOM, TN 38226
PERSONAL PROPERTY AUCTION
VEHICLES, FARM EQUIPMENT, HORSE DRAWN EQUIPMENT, TOOLS, FURNITURE, COLLECTIBLES, & MISC.
ON-LINE ONLY AUCTION – EXTENDED BIDDING FEATURE
BIDDING ENDS – TUESDAY ~ MAY 16TH AT 12 NOON & 3:15 P.M. & WEDNESDAY, MAY 17TH, 2023 – 12 NOON
BIDDERS MUST REGISTER WITH ALEXANDER AUCTIONS & REAL ESTATE SALES AT WEBSITE (www.alexanderauctions.com)
BIDDERS
ALL BIDDERS MUST REVIEW THESE AUCTION TERMS AND CONDITIONS AND AGREE TO ENTER BIDS ACCORDING TO THESE TERMS AND CONDITIONS.
1. THE PROPERTY LISTED AND DESCRIBED ON THE ATTACHED LIST WILL BE OFFERED UNDER THE FOLLOWING TERMS AND CONDITIONS OF SALE, WHICH TERMS AND CONDITIONS OF SALE AND DESCRIPTIONS OF ITEMS LISTED ON THE ATTACHED, MAY BE AMENDED, UPDATED OR ALTERED AT THE TIME AND DURING THE SALE BY THE AUCTION COMPANY.
2. THESE TERMS AND CONDITIONS OF SALE AND ANY ANNOUNCEMENTS FROM THE AUCTION COMPANY SHALL BE BINDING ON ANY BIDDER, WHETHER PRESENT, REPRESENTED BY AN AGENT OR ABSENTEE BIDDER. BUYERS ARE BOUND BY THESE TERMS AND CONDITIONS OF SALE.
3. TERMS OF SALE: ALL PROPERTY IS SOLD “AS-IS’ AND ‘WHERE-IS’ AND NEITHER ALEXANDER AUCTIONS & REAL ESTATE SALES NOR THE SELLER MAKES ANY EXPRESS OR IMPLIED WARRANTY OR REPRESENTATION OF ANY KIND OR NATURE WITH RESPECT TO THE PROPERTY BEING SOLD. IN NO EVENT SHALL ALEXANDER AUCTIONS & REAL ESTATE SALES OR THE SELLER BE RESPONSIBLE FOR THE CORRECTNESS OF OR BE DEEMED TO HAVE MADE ANY REPRESENTATION OR WARRANTY OF MERCHANTABILITY, FITNESS FOR PURPOSE, DESCRIPTION, SIZE, GENUINENESS, YEAR OF MANUFACTURE, ATTRIBUTION, PROVENANCE OR CONDITION CONCERNING THE PROPERTY OR ANY WARRANTY THAT ANY ITEM COMPLIES WITH ANY APPLICABLE FEDERAL OR STATE LAWS. NO STATEMENT SET FORTH IN THE ATTACHED LIST OR MADE AT THE SALE OR IN THE BILL OF SALE OR INVOICE OR ELSEWHERE, WHETHER ORAL OR WRITTEN, SHALL BE DEEMED SUCH A WARRANTY OR REPRESENTATION OR AN ASSUMPTION OF LIABILITY. ALEXANDER AUCTIONS & REAL ESTATE SALES MAKES NO REPRESENTATION OR WARRANTY AS TO THE ACCURACY OF THE DESCRIPTIONS OR REPRESENTATIONS WHICH WERE PROVIDED BY THE SELLER AND ARE LISTED ON THE ATTACHED OR AS TO THE CONDITION OF THE ITEM.
4. CONDITIONS OF ITEMS SOLD: ALL INFORMATION IS BELIEVED TO BE ACCURATE; HOWEVER, THE AUCTIONEER SHALL NOT BE RESPONSIBLE FOR THE CORRECT DESCRIPTION, AUTHENTICITY, GENUINENESS OF OR DEFECT IN ANY LOT, AND MAKES NO WARRANTY IN CONNECTION THEREWITH. NO ALLOWANCES WILL BE MADE OR SALE SET ASIDE ON ACCOUNT OF ANY INCORRECTNESS, ERROR IN CATALOGING OR ANY IMPERFECTION NOT NOTED. NO DEDUCTION WILL BE ALLOWED ON DAMAGED ARTICLES AS ALL GOODS BEING EXPOSED FOR PUBLIC EXHIBITION ARE SOLD “AS IS” AND WITHOUT RECOURSE.
5. LOCATION: ITEMS LOCATED ON-SITE AT 4521 AUSTIN SPRINGS ROAD, DUKEDOM, TN 38226
6. EXTENDED BIDDING: EACH TIME A BID IS PLACED ON AN ITEM IN THE FINAL FIVE (5) MINUTES OF THE CLOSING TIME, BIDDING TIME FOR THAT ITEM WILL BE AUTOMATICALLY EXTENDED FIVE (5) MINUTES FROM THE TIME THE BID WAS PLACED ON THAT LOT. EXAMPLE: IF AN AUCTION IS SCHEDULED TO END AT 1 P.M. AND AN ITEM RECEIVES A BID AT 12:59 P.M., THE CLOSING TIME OF THAT ITEM AUTOMATICALLY EXTENDS TO 1:05 P.M. THE AUTO-EXTEND FEATURE REMAINS ACTIVE ON THAT LOT UNTIL NO FURTHER BIDS ARE RECEIVED WITHIN A FIVE-MINUTE TIME FRAME ON THAT LOT. LOTS WHICH DO NOT RECEIVE A BID IN THE LAST 5 MINUTES WILL CLOSE AT PUBLISHED TIME.
7. LOTS 81 THROUGH REMAINING LOTS IN CATALOG 2 SELL UNDER THESE EXTENDED BIDDING TERMS. LOTS ARE SET TO CLOSE EVERY 15 MINUTES SUBJECT TO EXTENSIONS.
8. EXTEND ALL DYNAMIC BIDDING: THE REAL ESTATE TRACTS AND LOTS IN CATALOG 1 SELL UNDER THE EXTEND ALL DYNAMIC BIDDING RULES. EACH TIME A BID IS PLACED ON AN ITEM IN THE FINAL FIVE (5) MINUTES OF THE CLOSING TIME, BIDDING TIME FOR ALL TRACTS AND LOTS IN CATALOG 1 WILL EXTEND 5 MINUTES. ALL LOTS WILL REMAIN OPEN FOR BIDDING UNTIL NO BIDS ARE PLACED IN THE LAST 5 MINUTES. ALL LOTS CLOSE AT THE SAME TIME.
9. BUYER’S PREMIUM: A 10% BUYER’S PREMIUM WILL BE ADDED TO THE HIGHEST BID ON EACH ITEM TO REACH THE TOTAL SALES PRICE.
10. BIDDERS ARE REQUIRED TO PRE-REGISTER FOR A BIDDING NUMBER AND GIVE EVIDENCE OF THEIR CREDIT-WORTHINESS.
11. TO BE AN APPROVED ON-LINE BIDDER AT THIS AUCTION YOU MUST HAVE A VALID VISA OR MASTERCARD CREDIT CARD ON FILE.
12. BUYERS: YOUR CREDIT CARD WILL BE CHARGED IMMEDIATELY FOLLOWING THE AUCTION FOR ITEMS UNDER $500.00 TOTAL WHEN CREDIT CARDS ARE ACCEPTED PAYMENT.
13. PAYMENT: BUYER AGREES THAT ALL PURCHASES MUST BE PAID IN FULL NO LATER THAN MAY 18TH, 2023 BY 5 P.M. ALL PAYMENTS ARE TO BE MADE IN U.S. CURRENCY BY CASH, WIRE TRANSFER, CASHIER'S CHECK, CERTIFIED BANK CHECK, OR PERSONAL CHECK WITH IRREVOCABLE LETTER OF GUARANTY IN FAVOR OF ALEXANDER AUCTIONS & REAL ESTATE SALES, REQUIRED OF ALL PURCHASERS NOT PERSONALLY KNOWN BY THE AUCTION COMPANY. BUYERS ARE RESPONSIBLE FOR ANY WIRE TRANSFER. PURCHASERS WHO WISH TO PAY BY PERSONAL CHECK MUST BE CLEARED BY ALEXANDER AUCTIONS & REAL ESTATE SALES OR BY THE SELLER.
14. CREDIT CARDS: ONLY ACCEPT A TOTAL PAYMENT OF $500.00 PLUS THE BUYER’S PREMIUM PER 1 OR MORE ITEMS. A 5% SERVICE FEE WILL BE CHARGED WITH ALL CREDIT CARD PAYMENTS. THE CREDIT CARD ON FILE WILL BE CHARGED IMMEDIATELY FOLLOWING THE AUCTION FOR THE FULL AMOUNT OF THE WINNING HAMMER PRICE PLUS PREMIUMS.
15. ALEXANDER AUCTIONS & REAL ESTATE SALES DOES NOT TOLERATE ANY EXCUSES FOR A CHECK THAT DOES NOT CLEAR. PERSONAL CHECKS ARE ACCEPTED FROM PEOPLE WHO WE HAVE APPROVED AND WE EXPECT THESE CHECKS TO CLEAR THE BANK IMMEDIATELY.
16. NO ITEMS CAN BE REMOVED THE DAY OF THE AUCTION – TUESDAY, MAY 16 & WEDNESDAY, MAY 17, 2023.
17. ALL ITEMS PURCHASED ARE TO BE PICKED UP AT THE AUCTION SITE: PICK UP DAYS ARE THURSDAY, MAY 18 TH FROM 1:30 P.M. TO 5 P.M., FRIDAY, MAY 19TH FROM 9:30 A.M. TO 4:30 P.M. AND SATURDAY, MAY 20TH FROM 9:30 A.M. TO 1 P.M. REMOVAL MUST BE BY APPOINTMENT. CALL (731) 587-4244 FOR APPOINTMENT.
18. REMOVAL OF ALL ITEMS: ALL ITEMS MUST BE REMOVED ON OR BEFORE SATURDAY, MAY 20TH, 2023 BY 1:30 PM. REMOVAL MUST BE ARRANGED BY APPOINTMENT.
19. SALES TAX: SALES TAX WILL NOT BE COLLECTED ON ANY ITEM IN THE AUCTION.
20. BUYER IS RESPONSIBLE FOR ALL LOADING INCLUDING LABOR AND REMOVAL. BRING OWN LOADING PERSONNEL. SELLER AND ALEXANDER AUCTIONS & REAL ESTATE SALES DO NOT PROVIDE LOADING.
21. ALL ITEMS MUST BE PICKED UP ONSITE – NO SHIPPING, UNLESS PRIOR APPROVAL BY ALEXANDER AUCTIONS ON SELECTED ITEMS WHICH ARE STILL PACKED. BUYER PAYS ALL COST INCLUDING MOVING AND TRANSPORTATION TO SHIPPER, ANY PACKING CHARGES, SHIPPING CHARGES, AND INSURANCE. ALL CHARGES WILL BE CHARGED TO YOUR CREDIT CARDS IMMEDIATELY AT THE TIME OF SHIPPING. IF YOUR CREDIT CARD IS DENIED THERE WILL BE A $30.00 CHARGE.
22. REMOVAL OF PROPERTY OR STORAGE: NONE OF THE PROPERTY MAY BE REMOVED FROM THE PREMISES UNTIL THE TOTAL PURCHASE PRICE HAS BEEN PAID. ALL ITEMS MUST BE REMOVED FROM AND OFF PREMISES BY SATURDAY, MAY 20TH, 2023 BY 1 P.M. ANY ITEMS LEFT AND NOT REMOVED FROM THE PREMISES REMAIN AT THE SOLE RISK OF THE BUYER. REMOVAL SHALL BE AT THE EXPENSE, LIABILITY, AND RISK OF THE PURCHASER. PURCHASES CAN BE REMOVED ONLY ON PRESENTATION OF ORIGINAL BILL OF SALE. PHOTOSTATS OF BILLS OF SALE WILL NOT BE ACCEPTED FOR REMOVAL. UPON FAILURE OF PURCHASER TO REMOVE GOODS WITHIN TIME SPECIFIED AS POSTED OR ANNOUNCED, AUCTIONEER SHALL HAVE THE OPTION OF REMOVING AND STORING THE GOODS AT EXPENSE AND RISK OF THE PURCHASER OR DEEMING MONEY DEPOSIT FORFEITED IN WHICH CASE AUCTIONEER MAY RESELL WITHOUT NOTICE AT PUBLIC SALE OR OTHERWISE DISPOSE OF GOODS AT RISK AND EXPENSE OF PURCHASER. PURCHASER SHALL REMAIN LIABLE FOR LOSS, EXPENSE AND DAMAGES ARISING FROM THE PURCHASER’S DEFAULT.
23. BIDDER CONTRACT: THIS BIDDER CONTRACT ENTERED INTO BETWEEN THE BIDDER WHOSE NAME IS REGISTERED AND ALEXANDER AUCTIONS & REAL ESTATE SALES SHALL GOVERN THIS AUCTION AND HE/SHE AGREES WITH THE TERMS AND CONDITIONS. ADDITIONAL TERMS WHICH MAY BE POSTED ON SITE OR POSTED ONLINE ON ALEXANDER AUCTIONS’ WEBSITE ARE JUST AS BINDING AS THE PRINTED TERMS AND CONDITIONS.
24. FULL PAYMENT: ALL ITEMS MUST BE PAID FOR IN FULL BEFORE ALL VEHICLES, TRAILERS, EQUIPMENT AND PERSONAL PROPERTY LEAVE THE PREMISES. NOTHING MAY BE REMOVED UNTIL IT IS SETTLED FOR. PAYMENT FOR PURCHASES MUST BE MADE BY CASH OR CASHIER’S CHECK, PERSONAL CHECK OR BUSINESS CHECK. LETTERS OF CREDIT OF GUARANTEE MUST BE FOR THIS AUCTION ONLY, ALONG WITH PROOF OF IDENTITY. BIDDER AGREES NOT TO STOP PAYMENT ON CHECKS OR DISALLOW A BANK DRAFT AND IS RESPONSIBLE FOR ANY EXPENSES DUE TO COLLECTION OF BAD CHECK. IN THE EVENT OF NON-PAYMENT OF BAD-CHECK, THE AUCTIONEER RESERVES THE RIGHT TO REPOSSESS THE MERCHANDISE INVOLVED, AT ANY TIME AT YOUR LOCATION.
25. COMPLIANCE WITH THE TERMS OF SALE: IN DEFAULT OF PAYMENT OF BILLS IN FULL WITHIN THE TIME ANNOUNCED FOR THIS AUCTION THE AUCTIONEER IN ADDITION TO ALL OTHER REMEDIES ALLOWED BY LAW, MAY RETAIN ALL MONIES RECEIVED AS DEPOSIT OR OTHERWISE, AS LIQUIDATED DAMAGES. LOTS NOT PAID FOR WITHIN THE TIME SPECIFIED HEREIN MAY BE RESOLD AT PUBLIC OR PRIVATE SALE WITHOUT FURTHER NOTICE. ANY RESULTING DEFICIENCY TOGETHER WITH ALL EXPENSES AND COSTS OF RE-SALE WILL BE THE RESPONSIBILITY OF THE DEFAULTING PURCHASER. EACH BUYER IN MAKING A BID DOES HEREWITH AGREE TO COMPLY WITH THE TERMS AND CONDITIONS AS HEREIN STATED AND AS OTHERWISE SET FORTH. THE FAILURE OR DEFAULT BY A SUCCESSFUL BUYER TO FULLY COMPLY WITH THE TERMS AND CONDITIONS HEREIN WILL BE TREATED AS AN IMMEDIATE BREACH AND THE DEPOSIT AS MADE RETAINED AND APPLIED TOWARD ANY DEFICIT IN ADDITIONAL COSTS OR CHARGES AS INCURRED TO AFFECT THE RESALE OF THAT PROPERTY AT PRIVATE OR PUBLIC SALE. THERE SHALL BE NO FURTHER NOTICE REQUIRED TO THE BUYER ONCE A DEFAULT HAS OCCURRED. THE OBLIGATION OF THE BUYER SHALL BE FOR COSTS AS INCURRED, PLUS ANY DEFICIT INCLUDED ARISING FROM THE BUYER’S DEFAULT.
26. ALEXANDER AUCTIONS ESTABLISHES BID INCREMENTS: ALEXANDER AUCTIONS RESERVE THE RIGHT TO CHANGE THE BID INCREMENTS BY INCREASING OR DECREASING AT ANY TIME. BID INCREMENTS ARE INDICATED ONLINE IN THE BID PROGRAM.
27. BIDDERS WHO BID OFF-SITE AND ARE NOT PRESENT AT THE PREVIEW UNDERSTAND AND ACKNOWLEDGE THAT THEY MAY NOT BE ABLE TO INSPECT AN ITEM AS WELL AS IF THEY EXAMINED IT IN PERSON. IT IS THE BIDDER’S RESPONSIBILITY TO DETERMINE CONDITION, AGE, GENUINENESS, VALUE OR ANY OTHER DETERMINATIVE FACTOR.
28. ALEXANDER AUCTIONS & REAL ESTATE SALES IS PROVIDING INTERNET AUCTION BIDDING AS A SERVICE TO BIDDER. BIDDER ACKNOWLEDGES AND UNDERSTANDS THAT THIS SERVICE MAY OR MAY NOT FUNCTION CORRECTLY THE DAY OF THE AUCTION. UNDER NO CIRCUMSTANCES SHALL BIDDER HAVE ANY KIND OF CLAIM AGAINST ALEXANDER AUCTIONS & REAL ESTATE SALES OR ANYONE ELSE IF THE INTERNET SERVICE FAILS TO WORK CORRECTLY BEFORE OR DURING THE LIVE AUCTION. ALEXANDER AUCTIONS & REAL ESTATE SALES WILL NOT BE RESPONSIBLE FOR ANY MISSED BIDS FROM ANY SOURCE. INTERNET BIDDERS WHO DESIRE TO MAKE CERTAIN THEIR BID IS ACKNOWLEDGED SHOULD LEAVE THEIR MAXIMUM BID 24 HOURS BEFORE THE AUCTION BEGINS.
29. ALL SALES ARE FINAL. ALL PURCHASERS ARE RESPONSIBLE FOR THE ITEM UPON THE FALL OF THE HAMMER. FALL OF THE HAMMER IN THIS ON-LINE AUCTION SHALL BE WHEN THE BIDDING ENDS AND THE FINAL BIDDER BECOMES THE WINNER. ALEXANDER AUCTIONS & REAL ESTATE SALES WILL NOT ACCEPT ANY MERCHANDISE BACK BECAUSE YOU HAVE DECIDED THAT YOU DO NOT WANT IT OR YOU HAVE DECIDED YOU OVERPAID FOR IT. IF YOU PURCHASE AN ITEM AND LEAVE AND DO NOT PAY FOR IT, THEN WE WILL PROCEED TO COLLECT FOR THE ITEM IN A LEGAL MANNER.
30. WARRANTY: ALL ITEMS ARE SOLD “AS IS”, “WHERE IS”, WITHOUT GUARANTEE OF ANY KIND. NO WARRANTY ON QUALITY, CONDITION, MERCHANTABILITY, OR FITNESS FOR INTENDED USE OR ANY PARTICULAR PURPOSE OR PARTICULAR USE IS GIVEN. ALL MERCHANDISE IS CONSIDERED USED AND ALL SALES ARE FINAL!! NO RETURNS OR CHARGE BACKS ALLOWED! RETURNS AND CHARGE BACKS WILL RESULT IN A BLACK FLAG WITH MARKNET ALLIANCE.
31. THE DESCRIPTIONS OF ITEMS APPEARING IN ADVERTISING PRIOR TO THIS AUCTION ARE BELIEVED TO BE CORRECT. NEVERTHELESS, NEITHER THOSE DESCRIPTIONS NOR ANY ORAL STATEMENTS MADE BY THE OWNER (OR HIS AGENTS OR OFFICERS) OR THE AUCTIONEER (OR HIS AGENTS OR OFFICERS) CONCERNING ANY ITEM SHALL BE CONSTRUED AS A WARRANTY, EITHER EXPRESSED OR IMPLIED. BIDDER AGREES TO INSPECT THE PHOTOS OF THE ITEMS THEY ARE BIDDING ON AND TO SATISFY THEMSELVES AS TO THE PROPER NAME, AGE, AND CONDITION OF THE ITEM. I, THE BIDDER, HAVE EXAMINED THIS MERCHANDISE AND ACCEPT IT IN “AS IS” CONDITION.
32. ATTORNEY FEES: IN AN ACTION ARISING OUT OF THIS AGREEMENT, THE PREVAILING PARTY SHALL BE ENTITLED TO REASONABLE ATTORNEY FEES AND COSTS.
33. ANY COURT LITIGATION SHALL BE IN WEAKLEY COUNTY, TN.
34. ALEXANDER AUCTIONS & REAL ESTATE SALES WILL NOT TOLERATE ANY PILFERING OR TAKING OF ANY ITEM OR THEFT OF ANY ITEM. ANY WRONGDOING WILL BE PROSECUTED TO THE FULLEST EXTENT OF THE LAW.
35. CONFIRMATION OF PURCHASE: TITLE TO THE PROPERTY SHALL PASS TO THE BUYER UPON THE FALL OF THE AUCTIONEER'S HAMMER OR CLOSE OF THE AUCTION, SUBJECT TO THE COMPLIANCE OF THE CONDITIONS OF SALE. BUYER ASSUMES ALL RESPONSIBILITY FOR THE ITEM OR ITEMS AND SHALL PAY THE TOTAL PURCHASE PRICE.
36. UCC SECTION 2-328 (4) DISCLAIMER: SECTION 2-328(4) OF THE UCC STATES, “IF THE AUCTIONEER KNOWINGLY RECEIVES A BID ON THE SELLER’S BEHALF OR THE SELLER MAKES OR PROCURES SUCH A BID, AND NOTICE HAS NOT BEEN GIVEN THAT LIBERTY FOR SUCH BIDDING IS RESERVED, THE BUYER MAY AT HIS OPTION VOID THE SALE OR TAKE THE GOODS AT THE PRICE OF THE LAST GOOD FAITH BID PRIOR TO THE COMPLETION OF THE SALE.” ACCORDINGLY, THE SELLER AND THEIR AGENTS, HEREBY, RESERVE THE RIGHT TO BID AT TODAY’S AUCTION.
37. INTERNET BIDDERS WHO DESIRE TO MAKE CERTAIN THEIR BID IS ACKNOWLEDGED SHOULD USE THE PROXY-BIDDING FEATURE AND LEAVE THEIR MAXIMUM BID 24 HOURS BEFORE THE AUCTION BEGINS.
38. INTERNET & ON-SITE BIDDERS ARE INFORMED SOME LOTS ARE SOLD AS A SINGLE LOT & SOME LOTS ARE SOLD INDIVIDUALLY (TIMES THE MONEY PER PIECE).
39. PURCHASERS SHALL PROVIDE THEIR OWN PHYSICAL AND LIABILITY INSURANCE COVERAGE FOR THEMSELVES, EMPLOYEES AND THEIR RIGGERS. PURCHASERS ARE RESPONSIBLE FOR THEIR OWN INSURANCE COVERAGE FOR PROPERTY DAMAGE AND LIABILITY COVERAGE FOR THEMSELVES, THEIR EMPLOYEES, THEIR RIGGERS AND DYERSBURG ELEVATOR COMPANY WHILE VISITING, LOADING AND REMOVING PURCHASES. PURCHASERS SHALL HOLD HARMLESS THE SELLERS AND ALEXANDER AUCTIONS & REAL ESTATE SALES FROM ANY LIABILITY OR PROPERTY DAMAGE CAUSED BY THEM.
40. ALEXANDER AUCTIONS & REAL ESTATE SALES AND THE SELLER IS NOT AND WILL NOT BE RESPONSIBLE FOR OR FURNISH ANY SECURITY FOR ITEMS AFTER THE FALL OF THE HAMMER VEHICLES, FARM EQUIPMENT, YARD FURNITURE ARE LOCATED OUTSIDE. ALL OTHER ITEMS ARE LOCATED IN THE HOUSE, STORAGE BUILDING, AND BARN.
41. INSURE ITEMS WHEN YOU PURCHASE THEM.
42. BIDS: ALEXANDER AUCTIONS & REAL ESTATE SALES RESERVES THE RIGHT AND DOES ACCEPT ABSENTEE BIDS FROM INDIVIDUALS AND WILL ATTEMPT TO EXECUTE THESE BIDS. ITEMS WILL BE SOLD TO SAID INDIVIDUALS PROVIDED THEY ARE THE HIGH BIDDER. IF ANYONE WOULD LIKE TO LEAVE AN ABSENTEE BID ON ANY ITEM, GO TO THE OFFICE OF ALEXANDER AUCTIONS & REAL ESTATE SALES, 239 UNIVERSITY STREET, MARTIN, TN, SIGN A FORM, AND LEAVE PAYMENT. YOUR BID WILL BE EXECUTED. IN THE EVENT YOU ARE NOT THE SUCCESSFUL BIDDER, YOUR MONEY WILL BE REFUNDED.
43. DISPUTE BETWEEN BIDDERS: IF ANY DISPUTE ARISES BETWEEN TWO OR MORE BIDDERS, THE AUCTIONEER MAY DECIDE THE SAME OR MAY IMMEDIATELY PUT THE LOT OR ITEM UP FOR SALE AGAIN, AND RE-SELL TO THE HIGHEST BIDDER. THE DECISION OF THE AUCTIONEER SHALL BE FINAL AND ABSOLUTE.
44. ADDITION TO OR WITHDRAWAL FROM SALE: THE AUCTIONEER RESERVES THE RIGHT TO WITHDRAW FROM SALE ANY OF THE ITEMS; TO SELL AT THIS AUCTION ITEMS NOT LISTED; TO GROUP ONE OR MORE LOTS INTO ONE OR MORE SELLING LOTS OR TO SUBDIVIDE INTO TWO OR MORE SELLING LOTS. THE AUCTIONEER ALSO RESERVES THE RIGHT TO SELL ALL OF THE ITEMS LISTED IN BULK.
45. AUCTIONEER: THE AUCTIONEER, WHEN ACTING AS AGENT, IS NOT RESPONSIBLE FOR ACTS OF ITS PRINCIPALS.
46. OWNERSHIP: ALL ITEMS BECOME THE SOLE RESPONSIBILITY OF THE PURCHASER IMMEDIATELY AT KNOCKDOWN. NO REFUNDS OR ADJUSTMENTS WILL BE ALLOWED FOR ANY SHORTAGES. IF YOU BELIEVE YOU ARE ENTITLED TO AN ADJUSTMENT TO YOUR INVOICE DUE TO MISSING OR DAMAGES ITEM(S), YOU, YOUR MOVER OR YOUR RIGGER MUST REPORT THE PROBLEM TO OUR ON-SITE SUPERVISOR PRIOR TO SETTLEMENT AND PRIOR TO THE ITEMS LEAVING THE PROPERTY. ONCE THE ITEM HAS LEFT THE PROPERTY, THERE WILL BE NO ADJUSTMENTS. WHEN YOU HIRE A MOVER/RIGGER, THE MOVER/RIGGER IS ACTING AS YOUR AGENT. WE WILL NOT ACCEPT THAT THE MOVER/RIGGER DID NOT NOTIFY YOU OF A MISSING OR DAMAGED ITEM(S) OR THAT IT WAS DISCOVERED THAT AN ITEM(S) WAS MISSING OR DAMAGED WHEN YOUR
PURCHASES WERE DELIVERED TO YOUR FACILITY. ALL BIDDERS AND MOVERS/RIGGERS MUST BE AWARE OF THIS POLICY! IF FOR ANY REASON WHATSOEVER, A PROPERTY AS BID, CANNOT BE DELIVERED WITHIN THAT PERIOD OF TIME PROVIDED FOR AT THE SALE, THE BUYER EXPRESSLY WAIVES LIABILITY ON THE PART OF ALEXANDER AUCTIONS & REAL ESTATE SALES, THE AUCTIONEER AND FURTHER AGREES THAT ANY OBLIGATION WITH RESPECT THERETO SHALL BE LIMITED TO THE BID AND PAID FOR SAID PROPERTY (ASSETS).
47. NON-DELIVERY RESPONSIBILITY: AUCTIONEER SHALL NOT, IN ANY EVENT, BE LIABLE FOR NON-REMOVAL OR FOR ANY OTHER MATTER TO ANY PURCHASER OF ANY LOT.
48. PERSONAL AND PROPERTY RISK: PERSONS ATTENDING DURING EXHIBITION, SALE OR REMOVAL OF GOODS ASSUME ALL RISKS OF DAMAGE OF OR LOSS TO PERSON AND PROPERTY AND SPECIFICALLY RELEASE AND INDEMNIFY ALEXANDER AUCTIONS & REAL ESTATE SALES, THE AUCTIONEER FROM LIABILITY THEREFORE. NEITHER ALEXANDER AUCTIONS & REAL ESTATE SALES, THE AUCTIONEER NOR HIS PRINCIPAL OR SELLER SHALL BE LIABLE BY REASON OF ANY DEFECT IN OR CONDITION OF THE PREMISES IN WHICH THE SALE IS HELD.
49. RECORDS: THE RECORD OF SALE KEPT BY ALEXANDER AUCTIONS & REAL ESTATE SALES, THE AUCTIONEER AND BOOKKEEPER WILL BE TAKEN AS FINAL IN THE EVENT OF ANY DISPUTE.
50. NOMINAL BIDS: ANY BID WHICH IS MERELY A NOMINAL OR FRACTIONAL ADVANCE MAY BE REJECTED BY THE AUCTIONEER, IF IN HIS JUDGMENT IT MAY AFFECT THE SALE NEGATIVELY.
51. THE BUYER DOES HEREBY ASSUME AND DOES AGREE TO INDEMNIFY AND HOLD ALEXANDER AUCTIONS & REAL ESTATE SALES, THE AUCTIONEER AND SELLER HARMLESS FROM ANY FUTURE CLAIM WHICH SHALL PERTAIN TO THE FITNESS OR USE OF THAT ASSET AS BEING PURCHASED.
52. ADDITIONAL TERMS AND CONDITIONS: ADDITIONAL TERMS OR CONDITIONS OF SALE MAY BE ADDED BY AUCTIONEER BY ANNOUNCEMENT OR POSTED ON THE PREMISES OR ONLINE PRIOR TO THE AUCTION.
53. CONDUCT OF AUCTION: ALEXANDER AUCTIONS & REAL ESTATE SALES, THE AUCTIONEER, RESERVES THE RIGHT, WITHOUT GIVING ANY REASON, TO PUT UP ITEMS OUT OF NUMERICAL SEQUENCE AND TO WITHDRAW ANY ITEM, ITEMS, OR LOT FROM THE AUCTION.
54. ANY BIDDERS APPROVED BY ALEXANDER AUCTIONS HAVE THE RIGHT TO BID IN THIS AUCTION, INCLUDING SELLERS, OWNERS, AUCTIONEERS, AND PERSONNEL WORKING IN THIS AUCTION.
55. ALL ANNOUNCEMENTS MADE FROM THE AUCTION STAND OR DURING THE AUCTION BIDDING PERIOD WILL TAKE PRECEDENCE OVER ANY PREVIOUS ANNOUNCEMENTS OR STATEMENTS.
56. PURCHASER SHALL BE RESPONSIBLE FOR THE LOADING AND MOVING OF THEIR ITEMS. ALEXANDER AUCTIONS & REAL ESTATE SALES DOES NOT FURNISH HELP TO LOAD OR MOVE ITEMS. IN THE EVENT AN EMPLOYEE OF ALEXANDER AUCTIONS & REAL ESTATE SALES ASSISTS IN THE MOVING OR LOADING OF AN ITEM, ALEXANDER AUCTIONS & REAL ESTATE SALES SHALL NOT BE RESPONSIBLE FOR ANY DAMAGE OR ACCIDENT THAT MAY OCCUR TO THE ITEM OR PERSON THEY ARE ASSISTING.
57. ALL ITEMS ARE SOLD “AS IS” WITHOUT A WARRANTY OR GUARANTEE MADE, EXPRESSED OR IMPLIED AS TO THE CONDITION OR FITNESS FOR USE.
58. PLEASE DO NOT WIRE FUNS WITHOUT VERBALLY VERIFING THE WIRING INSTURCTIONS AND CASH TO CLOSE AMOUNT PRIOR WITH SOMEONE FROM OUR OFFICE. REMEMBER: INQUIRE BEFORE YOU WIRE. WARNING: FRAUDULENT FUNDING INSTRUCTIONS: EMAIL HACKING AND FRAUD ARE ON THE RISE TO FRAUDULENTLY MISDIRECT FUNDS. PLEASE CALL OUR OFFICE IMMEDIAELY USING CONTACT INFORMATION FOUND FROM AN INDEPENDENT SOURCE, SUCH AS THE SALES CONTRACT, INVOICE OR INTERNET TO VERIFY ANY FUNDING INSTRUCTIONS RECEIVED. WE ARE NOT RESPONSIBLE FOR ANY WIRES SENT BY YOU TO AN INCORRECT BANK ACCOUNT.
WE APPRECIATE YOUR BIDDING AT THIS AUCTION & WILL BE GLAD TO ANSWER ANY QUESTIONS YOU MAY HAVE. CALL ALEXANDER AUCTIONS AND REAL ESTATE SALES AT 731-587-4244.
EXPLANATION OF WAYS TO BID:
Maximum Bid: The maximum amount you are willing to pay for a lot. Your bid will only increase by the minimum increment, but will automatically rise to your maximum bid as others bid up the lot over time.
“Forcing the Bid” is a bidding strategy by which a bidder increases the bid by more than the next accepted bid (placing your bid at $150.00 when the accepted bid is $50.00). This practice is used by some bidders to discourage others from bidding, in hopes of acquiring an item at a lower price. This prevents someone else from bidding your max bid first.
There are many theories on the effectiveness of this practice and a bidder who wishes to apply it does so at their own discretion. The Auction Company will not lower the price of an item that has been won by a “jumped” bid with no other competing bids.
Extend All/Dynamic Bidding Auctions may extend the bidding time on any lot that gets a bid within a certain amount of time of its scheduled closing time. The Auction will remain open for all lots until no bids are placed in the allotted amount of time. The Auctioneer will determine the number of minutes necessary to activate dynamic bidding ahead of time.
EXTENDED BIDDING: EACH TIME A BID IS PLACED ON AN ITEM IN THE FINAL FIVE (5) MINUTES OF THE AUCTION, BIDDING TIME FOR THAT ITEM WILL BE AUTOMATICALLY EXTENDED FIVE (5) MINUTES FROM THE TIME THE BID WAS PLACED ON THAT LOT. EXAMPLE: IF AN AUCTION IS SCHEDULED TO END AT 1 P.M. AND AN ITEM RECEIVES A BID AT 12:59 P.M., THE CLOSING TIME OF THAT ITEM AUTOMATICALLY EXTENDS TO 1:05 P.M. THE AUTO-EXTEND FEATURE REMAINS ACTIVE ON THAT LOT UNTIL NO FURTHER BIDS ARE RECEIVED WITHIN A FIVE-MINUTE TIME FRAME ON THAT LOT.
EXTEND ALL BIDDING: EACH TIME A BID IS PLACED ON A TRACT OF REAL ESTATE OR A LOT IN THE FINAL FIVE (5) MINUTES OF THE AUCTION, BIDDING TIME FOR ALL THE TRACTS OF REAL ESTATE AND LOTS IN THE AUCTION WILL EXTEND 5 MINUTES. ALL TRACTS AND PLOTS WILL REMAIN OPEN FOR BIDDING UNTIL NO BIDS ARE PLACED ON ANY TRACT OF REAL ESTATE OR ANY LOT IN THE LAST 5 MINUTES. ALL LOTS WILL CLOSE AT THE SAME TIME.
Alexander
AUCTIONS & REAL ESTATE SALES
MARVIN E. ALEXANDER, CAI - LIC 9
239 UNIVERSITY STREET ~ P.O. BOX 129 ~ MARTIN, TN 38237
Office: (731) 587-4244 ~ Email: [email protected]
CHECK OUT OUR WEBPAGE FOR UPCOMING AUCTIONS: www.alexanderauctions.com
LESLIE B. LASSITER ESTATE
4521 AUSTIN SPRINGS ROAD, DUKEDOM, TN 38226
REAL ESTATE AUCTION
ON-LINE ONLY AUCTION – Extend All Dynamic Bidding Auction
BIDDING ENDS TUESDAY, MAY 16TH, 2023 @ 12 NOON
BIDDERS MUST REGISTER WITH ALEXANDER AUCTIONS & REAL ESTATE SALES
AT WEBSITE (www.alexanderauctions.com)
BIDDERS SHOULD REVIEW ALL ONLINE TERMS PRIOR TO BIDDING!
1. ALEXANDER AUCTIONS AND REAL ESTATE SALES HAS BEEN COMMISSIONED BY STEVE LASSITER, EXECUTOR TO SELL THIS PROPERTY AT PUBLIC AUCTION.
2. REAL ESTATE CONSISTS OF 63.132 AC., AND IMPROVEMENTS IN WEAKLEY COUNTY, TENNESSEE
3. PROPERTY IS OFFERED IN 5 TRACTS. NO COMBINATIONS OF TRACTS WILL BE OFFERED.
ORIGINAL DEED REFERENCE: DEED BOOK 399 PAGE 406
REGISTER’S OFFICE WEAKLEY COUNTY, TENN. 38225
PROPERTY TAX MAP 021 PARCEL 005.00
ASSESSOR’S OFFICE WEAKLEY COUNTY, TENN. 38225
2022 PROPERTY TAXES
4. TRACT 1 – 3.785 AC. RESIDENCE, BARN, AND STORAGE BUILDING AT INTERSECTION OF AUSTIN SPRINGS ROAD & CECIL DAVIS ROAD. ON AUSTIN SPRINGS ROAD & ON CECIL DAVIS ROAD.
5. TRACT 2 – 7.763 AC. SOUTH AND EAST OF TRACT 1 ON AUSTIN SPRINGS ROAD AND CECIL DAVIS ROAD.
6. TRACT 3 – 5.976 AC. ON AUSTIN SPRINGS ROAD 100 FT NORTH OF STEVEN LASSITER RESIDENCE and FRONTAGE SOUTH OF STEVEN LASSITER. 2 ACRES RENTED FOR ROW CROP FOR 2023.
7. TRACT 4 – 18.677 AC. FRONTAGE ON SOUTH SIDE OF CECIL DAVIS ROAD EAST AND JOINING TRACT 2 AND TRACT 3.5 ACRES ON THE SOUTH BOUNDARY RENTED FOR ROW CROP FOR 2023. DRAINAGE DITCH DIVIDES TRACTS.
8. TRACT 5 - 26.931 AC. FRONTAGE ON WEST SIDE OF AUSTIN SPRINGS ROAD ACROSS FROM TRACT 1, 2, & 3. 7.6 ACRES OF WOODS. TILLABLE LAND CURRENTLY RENTED TO ROW CROP FOR 2023.
9. CONDITIONS OF SALE: PROPERTY IS BEING OFFERED IN AN ONLINE AUCTION. THIS AUCTION HAS AN EXTEND-ALL FEATURE.
10. BIDDER SHOULD REVIEW THESE TERMS, THE SALES & PURCHASE AGREEMENT (CONTRACT), AND OTHER EXHIBITS POSTED ONLINE AND IN THE DUE DILIGENCE REPORT.
11. BUYER’S PREMIUM: A 10% BUYER'S PREMIUM WILL BE ADDED TO THE FINAL BID ON THE REAL ESTATE TO REACH THE TOTAL SALES PRICE AND TOTAL CONTRACT PRICE.
12. BIDDERS AND BUYERS MUST AGREE TO THESE AUCTION TERMS & CONDITIONS AND EXHIBITS INCLUDED WITH THE TERMS ONLINE BEFORE BIDDING. YOUR ACCEPTANCE OF THE TERMS AND CONDITIONS AND EXHIBITS ARE APPROVED BY YOU REGISTERING FOR A BIDDER NUMBER.
13. PURCHASE AGREEMENT: AFTER THE CLOSE OF THE AUCTION, THE SUCCESSFUL BIDDER WILL BE EMAILED A SALES AND PURCHASE AGREEMENT/CONTRACT TO BE SIGNED AND RETURNED TO ALEXANDER AUCTIONS & REAL ESTATE SALES WITHIN 24 HOURS OF COMPLETION OF THE AUCTION, ALONG WITH THE REQUIRED EARNEST MONEY DEPOSIT.
14. EARNEST MONEY: THE SUCCESSFUL BIDDER IS REQUIRED TO MAKE AN EARNEST MONEY DEPOSIT OF 20% OF THE TOTAL SALES PRICE AND CONTRACT PRICE ON ANY TRACT OF REAL ESTATE, WITHIN 24 HOURS AFTER THE AUCTION CLOSES, WHEN THE PURCHASE AGREEMENT IS SIGNED. EARNEST MONEY IS NON-REFUNDABLE.
15. EARNEST MONEY PAYMENT: EARNEST MONEY PAYABLE BY CASH, WIRE TRANSFER, CASHIER’S CHECK OR PERSONAL CHECK WITH CURRENT BANK LETTER OF GUARANTY MADE TO ALEXANDER AUCTIONS. SEE SAMPLE COPY OF BANK LETTER OF GUARANTY AT WEBSITE ONLINE. NO CREDIT CARD PAYMENTS AND NO LETTERS OF INTENT ACCEPTED FOR PAYMENT.
16. CASH OFFER: BUYER(S) MUST BE PREPARED TO MAKE A CASH OFFER. THERE ARE NO CONTINGENCIES TO THIS SALE (I.E., FINANCING, APPRAISAL, REPAIRS, OR INSPECTIONS). THEREFORE, YOU SHOULD BE PRE-QUALIFIED BY A LENDER PRIOR TO BIDDING IF YOU REQUIRE FINANCING. THIS PROPERTY IS BEING SOLD FOR CASH “AS-IS, WHERE-IS” WITH A CLOSING DEADLINE.
17. CLOSING DATE: BALANCE OF THE PURCHASE PRICE SHALL BE DUE ON OR BEFORE JULY 7TH , 2023.
18. FAILURE TO CLOSE AND PAY THE BALANCE DUE AT CLOSING WILL REQUIRE BUYER TO FORFEIT THE EARNEST MONEY AND IS SUBJECT TO THE ALL THE TERMS STATED IN THESE TERMS & CONDITIONS AND THE PURCHASE AGREEMENT.
19. LIQUIDATED DAMAGES: SUCCESSFUL BIDDERS NOT EXECUTING AND RETURNING THEIR PURCHASE AGREEMENT ALONG WITH EARNEST MONEY DEPOSIT WITHIN FORTY-EIGHT (48) HOURS OF THE CONCLUSION OF THE AUCTION WILL BE CONSIDERED IN DEFAULT. IF YOUR CLOSING IS DELAYED FOR ANY REASON, BY YOU, AS PURCHASER, OR OTHER PARTIES WORKING ON YOUR BEHALF, INCLUDING ANY LENDER YOU INVOLVE, YOU MAY BE DECLARED IN BREACH OF THIS CONTRACT, FORFEIT ALL DEPOSITS MADE AND COULD ADDITIONALLY BE LIABLE FOR ANY AND ALL COST INCURRED BY SELLER AND ALEXANDER AUCTIONS AND REAL ESTATE SALES INCURRED IN A SUBSEQUENT RESALE OF THE PROPERTY. IF SUCH ACTION OCCURS, ALEXANDER AUCTIONS AND REAL ESTATE SALES HEREBY HAS THE RIGHT TO DISPERSE THE DEPOSIT AS STATED IN THE LISTING AGREEMENT AND THE BUYER HAS NO CLAIMS TO SUCH MONEY OR PROPERTY BEING SOLD. LIQUIDATED DAMAGES ARE TO COVER COST OF AUCTION, COST INCURRED BY SELLER, LABOR COST AND ADDITIONAL COST OF AUCTION AS NOT DEFINED IN THIS AGREEMENT. THESE LIQUIDATED DAMAGES DO NOT RESTRICT THE SELLER FROM SUING THE BUYER FOR PERFORMANCE DAMAGES AND/OR ANY ADDITIONAL DAMAGES THE SELLER SUFFERS BY THE DEFAULT OF THE BUYER.
20. COMPLIANCE WITH THE TERMS OF SALE: 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 PURCHASE AGREEMENT (CONTRACT) FOR SALE OF REAL ESTATE AND EARNEST MONEY DEPOSIT, THE WINNING BIDDER AND OR BUYER SHALL PAY TO ALEXANDER AUCTIONS ANY 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 ALEXANDER AUCTIONS 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 ALEXANDER AUCTIONS. 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 ALEXANDER AUCTIONS 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 WEAKLEY COUNTY, TENNESSEE. ALEXANDER AUCTIONS RESERVES THE RIGHT TO SELL TO THE NEXT HIGHEST QUALIFIED BIDDER OR ANY OTHER BIDDER 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.
21. COMMISSION: PURCHASER AGREES TO PAY A 10% BUYERS PREMIUM OF THE BID PRICE UPON CLOSING, WHICH IS EQUAL TO THE AGREED UPON COMMISSION BETWEEN SELLER, AGENT AND PURCHASER. PURCHASER RECOGNIZES AND AGREES THAT THE 10% PREMIUM PAID AS COMMISSION IS THIS TRANSACTION DOES NOT CONSTITUTE PURCHASER REPRESENTATION.
22. POSSESSION OF TRACT 1 WILL BE GIVEN AT CLOSING AND DEED TRANSFER.
23. POSSESSION OF TRACT 2 THROUGH TRACT 4 (SUBJECT TO AREAS LEASED FOR 2023) SHALL BE GIVEN UPON DEPOSIT OF THE EARNEST MONEY IN ALEXANDER AUCTIONS ESCROW ACCOUNT SUBJECT TO THE CLEARANCE OF ANY CHECKS OR WIRE TRANSFER DEPOSITS.
24. 2023 TAXES : TOTAL TAXES FOR 2022 - $757.00. TRACT 1 2023 TAXES PRORATED AT CLOSING; 2023 TAXES ON TRACTS 2, 3, 4, AND 5 ARE TO BE ASSUMED BY BUYER.
25. GREENBELT ROLL BACK TAXES – BUYER TO ASSUME ANY ROLL BACK TAXES WHICH ARE ASSESSED TO ANY TRACTS CONSISTING 15 ACRES OR MORE AND ON ANY COMBINATION OF TRACTS TOTALING 15 ACRES OR MORE WHICH ARE ELIGIBLE FOR GREENBELT PROGRAM. SELLER WILL PAY FOR ANY ROLL BACK TAXES WHICH ARE ASSESSED TO ANY TRACT NOT ELIGIBLE FOR THE GREENBELT PROGRAM.
26. GREENBELT TAXES: PURCHASER TO PAY ANY ROLL BACK TAXES THAT MAY BECOME DUE ON ANY TRACT OR COMBINATION OF TRACTS ELIGIBLE FOR GREENBELT OR BECAUSE NEW BUYER ELECTS NOT TO ENROLL THE PROPERTY IN THE GREENBELT PROGRAM.
27. CLOSING DELAY: IF YOUR CLOSING IS DELAYED FOR ANY REASON, BY YOU, AS PURCHASER, OR OTHER PARTIES WORKING ON YOUR BEHALF, INCLUDING ANY LENDER YOU INVOLVE, YOU MAY BE DECLARED IN BREACH OF THIS CONTRACT, FORFEIT ALL DEPOSITS MADE AND COULD ADDITIONALLY BE LIABLE FOR ANY AND ALL COST INCURRED, IN A SUBSEQUENT RESALE OF THE PROPERTY, BY SELLER AND ALEXANDER AUCTIONS. IF SUCH ACTION OCCURS, ALEXANDER AUCTIONS HEREBY HAS THE RIGHT TO DISPERSE THE DEPOSIT AS STATED IN THE LISTING AGREEMENT AND THE BUYER HAS NO CLAIMS TO SUCH MONEY OR PROPERTY BEING SOLD. LIQUIDATED DAMAGES ARE TO COVER THE AUCTIONEER’S COMMISSION, COST OF AUCTION, COST INCURRED BY SELLER, LABOR COST AND ADDITIONAL COST OF AUCTION AS NOT DEFINED IN THIS AGREEMENT. THESE LIQUIDATED DAMAGES DO NOT RESTRICT THE SELLER FROM SUING THE BUYER FOR PERFORMANCE DAMAGES AND/OR ANY ADDITIONAL DAMAGES THE SELLER SUFFERS BY THE DEFAULT OF THE BUYER.
28. TITLE: DEED TRANSFER WILL BE BY WARRANTY DEED SIGNED BY THE EXECUTOR.
29. INSPECTION: PROSPECTIVE PURCHASER(S) SHOULD INSPECT AND REVIEW THE PROPERTY TO BECOME FAMILIAR WITH THE PROPERTY BOUNDARY LINES AND THE PHYSICAL CONDITION OF THE IMPROVEMENTS AND COMPLETE THEIR OWN DUE DILIGENCE RESEARCH.
30. DEED DESCRIPTIONS: PROPERTY WILL BE SOLD ACCORDING TO THE NEW SURVEY LEGAL DESCRIPTIONS OR THE NEW SURVEYS FOR THE INDIVIDUAL TRACTS.
31. SURVEY: PROPERTY HAS A CURRENT SURVEY COMPLETED BY SERATT SURVEYING, LLC., THOMAS L. SERATT III, DATED APRIL 20, 2023.
32. SURVEY COST: BUYER TO PAY $300.00 SURVEY COST FOR EACH TRACT PURCHASED AT CLOSING. SELLER TO PAY BALANCE OF SURVEY.
33. AGENCY DISCLOSURE: ALEXANDER AUCTIONS AND REAL ESTATE SALES AND ALL AGENTS WORKING AT THIS AUCTION ARE ACTING AS AN AGENT FOR THE SELLER.
34. BIDDING: NO ONE SHOULD MAKE A BID THAT HE/SHE DOES NOT WANT TO HONOR OR IS NOT FINANCIALLY ABLE TO HONOR.
35. CONTINGENCIES: NO PURCHASE IS CONTINGENT ON FINANCING, APPRAISALS, PROPERTY INSPECTIONS OR ANY OTHER CONTINGENCIES.
36. DUE DILIGENCE: ANY INFORMATION SUPPLIED IN THE TERMS AND CONDITIONS CONCERNING THE PROPERTY INFORMATION AND TAX AMOUNTS ARE SUPPLIED TO ACCOMMODATE THE PURCHASER(S). IT IS THE PURCHASER’S SOLE RESPONSIBILITY TO COMPLETE THEIR OWN DUE DILIGENCE SURVEY, RESEARCH, INSPECTION, CHECKING AND BID ACCORDING TO THEIR DUE DILIGENT SURVEY AND RESEARCH.
37. EASEMENTS: PROPERTY SELLS SUBJECT TO EXISTING EASEMENTS AND SUBJECT TO ANY RECORDED EASEMENTS.
38. RESTRICTIONS: REAL ESTATE SELLS SUBJECT TO ANY AND ALL EXISTING MATTER OF RECORDS, EASEMENTS, CITY, COUNTY AND STATE, BUILDING, USE OR ZONING LAWS AND RESTRICTIONS.
39. ENVIRONMENTAL ASSESSMENTS: SELLERS HAVE NOT REQUESTED NOR HAD ANY ENVIRONMENTAL ASSESSMENTS RUN ON THIS PROPERTY. SOME HOUSEHOLD AND FARM TRASH HAS BEEN DEPOSITED IN A SPOT OR TWO TO STOP EROSION.
40. ENVIRONMENTAL DISCLOSURE: AUCTIONEER AND BROKER AND SELLERS ARE NOT EXPERT IN DETERMINING ENVIRONMENTAL HAZARDS AND HAZARDOUS MATERIAL. BUYERS ACCEPT THESE IMPROVEMENTS AND LAND IN ITS PRESENT CONDITION. BUYER AGREES TO HOLD HARMLESS ALEXANDER AUCTIONS & REAL ESTATE SALES, THE BROKER, AUCTIONEER AND THE SELLERS FROM ANY ENVIRONMENTAL HAZARDS AND FROM ANY CLAIMS IN CONNECTION WITH ENVIRONMENTAL HAZARDS.
41. SOIL EVALUATION: THE OWNERS, SELLERS AND SALES MANAGEMENT HAVE NOT HAD OR REQUESTED ANY PERK TEST OR SOIL CLASSIFICATION INSPECTIONS TO BE COMPLETED BY THE GROUND WATER PROTECTION AGENCY OR ANY SOIL SCIENTIST TO DETERMINE THE APPROVAL OR REQUIREMENTS FOR SEPTIC TANKS OR SEPTIC LINES FOR ANY OF THE TRACTS.
42. GROUND WATER PROTECTION AUTHORITY: PURCHASER(S) SHALL BE RESPONSIBLE FOR CONTACTING THE WEAKLEY COUNTY GROUND WATER PROTECTION AGENCY AND/OR AN APPROVED TENNESSEE SOIL SCIENTIST TO OBTAIN A SOIL ANALYSIS AND APPROVAL FOR A SEPTIC SYSTEM. ALEXANDER AUCTIONS AND THE SELLERS MAKE NO WARRANTY OR GUARANTY AS TO SOIL TYPES AND SOIL APPROVAL FOR A SEPTIC/SEWAGE SYSTEM.
43. SEPTIC SYSTEMS: ALEXANDER AUCTIONS AND THE SELLER HAVE NO KNOWLEDGE ABOUT THE EXISTENCE OF A SEPTIC SYSTEM ON ANY TRACT EXCEPT TRACT 1. ALEXANDER AND SELLER HAVE NO KNOWLEDGE OF THE CONDITION OF WELL AND SEPTIC SYSTEM ON TRACT 1 EXCEPT THAT THE WATER IS ON AND THE BATH ROOMS ARE FUNCTIONING.
44. “AS IS”: PROPERTY AND IMPROVEMENTS ARE BEING SOLD IN THEIR PRESENT CONDITION “AS IS”. NO IMPROVEMENTS WILL BE MADE. THERE ARE NO WARRANTIES OR GUARANTEES EXPRESSED OR IMPLIED AS TO CONDITION OR FITNESS FOR USE. THE WARRANTIES OF HABITABILITY AND FITNESS FOR A PARTICULAR PURPOSE AND PARTICULAR USE ARE EXPRESSLY EXCLUDED.
45. INSPECTION OPPORTUNITY: PURCHASER AND PURCHASER’S REPRESENTATIVES HAVE HAD THE OPPORTUNITY TO INSPECT THIS PROPERTY AND AGREE ALL BIDS ARE MADE SUBJECT TO THEIR INSPECTIONS AND DUE DILIGENCE RESULTS AND PURCHASE SAID PROPERTY AS A RESULT OF THEIR INSPECTION.
46. WARRANTIES OR REPRESENTATION: ALEXANDER AUCTIONS AND SELLER HAS NOT MADE, DOES NOT MAKE, AND EXPRESSLY DISCLAIMS, ANY WARRANTIES, REPRESENTATIONS, COVENANTS OR GUARANTEES, EXPRESSED OR IMPLIED OR ARISING OUT BY OPERATION OF LAW, AS TO THE MERCHANTABILITY, HABITABILITY, QUANTITY, QUALITY OR ENVIRONMENTAL CONDITION OF THE PROPERTY OR ITS SUITABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OR PARTICULAR USE.
47. AUCTIONEER’S DISCRETION: ALEXANDER AUCTIONS HAS FULL DISCRETION TO MODIFY DATE AND TIME, ORDER AND DETAILS OF THE AUCTION FOR ANY REASON OR NO REASON AT ALL, INCLUDING BUT NOT LIMITED TO TECHNICAL ISSUES INCLUDING BUT NOT LIMITED TO INTERNET DIFFICULTIES, EMERGENCIES AND CONVENIENCE, ALEXANDER AUCTIONS RESERVES THE RIGHT TO MODIFY, CHANGE OR REMOVE USER NAMES AT ANY TIME.
48. TIME EXTENSION: ALEXANDER ONLINE AUCTIONS HAVE AN AUTO-EXTEND BIDDING FEATURE.
49. TIME INCREASE OR DECREASE: ALEXANDER AUCTIONS MAY INCREASE OR DECREASE THE EXTENDED BIDDING TIME AMOUNT AT ANY TIME DURING THE AUCTION UNTIL THE CLOSE OF BIDDING.
50. ALEXANDER AUCTIONS USES TWO TYPES OF EXTENDED BIDDING PLATFORMS.
51. PLATFORM TYPE 1 - EXTENDED BIDDING FEATURE: ALEXANDER’S AUCTIONS ARE TIMED EVENTS AND BIDDING WILL CLOSE AT A SPECIFIC TIME. ALEXANDER AUCTIONS ALSO HAVE AN AUTO-EXTEND FEATURE. WHEN ANY BID IS PLACED IN THE FINAL FIVE MINUTES OF AN AUCTION ON ANY ITEM, THE AUCTION ENDING TIME WILL BE AUTOMATICALLY EXTENDED FIVE (5) MINUTES FROM THE PUBLISHED CLOSING TIME. EXAMPLE: IF AN AUCTION SCHEDULED TO CLOSE AT 12:00 NOON RECEIVES A BID AT 11:56 THE CLOSE TIME WILL AUTOMATICALLY EXTEND TO 12:05. THE AUTO-EXTEND FEATURE REMAINS ACTIVE UNTIL NO FURTHER BIDS ARE RECEIVED WITHIN A FIVE (5) MINUTE TIME FRAME ON THE REAL ESTATE OR A PERSONAL PROPERTY LOT
52. PLATFORM TYPE 2 – EXTEND ALL DYNAMIC BIDDING: THIS AUCTION HAS AN EXTEND-ALL BIDDING FEATURE. ANY TIME ANY TRACT OF REAL ESTATE OR PERSONAL PROPERTY LOT IS BID ON WITHIN THE LAST 5 MINUTES, ALL TRACTS AND PERSONAL PROPERTY LOTS EXTEND 5 MINUTES MORE THE ENTIRE AUCTION REMAINS OPEN. ALL REAL ESTATE AND PERSONAL PROPERTY LOTS WILL CLOSE SIMULTANEOUSLY AT THE SAME TIME, WHEN NO BIDS ARE PLACED WITHIN THE LAST FIVE MINUTES ON ANY TRACT OF REAL ESTATE OR ANY OTHER LOT.
53. BID CLOSING: IN AN EXTEND ALL DYNAMIC BIDDING AUCTION, ALL TRACTS AND LOTS WILL CLOSE AT THE SAME TIME. NO TRACTS OR LOTS WILL BE COMBINED.
54. REFRESH BIDDING: REFRESH YOUR SCREEN CONSTANTLY DURING THE CLOSING MINUTES OF THE BIDDING OR ENABLE THE “AUTO-REFRESH” FEATURE.
55. SERVER & SOFTWARE TECHNICAL ISSUES: IN THE EVENT THAT THERE ARE TECHNICAL DIFFICULTIES RELATED TO THE SERVER, SOFTWARE OR ANY OTHER ONLINE AUCTION RELATED TECHNOLOGY, ALEXANDER AUCTIONS RESERVES THE RIGHT TO EXTEND BIDDING, CONTINUE THE BIDDING, CLOSE THE BIDDING OR INCREASE OR DECREASE THE EXTENDED AMOUNT OF TIME AT THE END OF THE AUCTION. NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR ALEXANDER AUCTIONS WILL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON.
56. BIDDING INCREMENTS: ALEXANDER AUCTIONS MAY HAVE DIFFERENT BIDDING INCREMENTS. THE BIDDING SOFTWARE WILL CALCULATE THE NEXT BID AMOUNT BEFORE YOU SUBMIT THE BID. ALEXANDER AUCTIONS RETAINS THE RIGHT TO CHANGE BIDDING INCREMENTS AT ANY TIME.
57. IF THE BIDDING INCREMENTS ARE NOT MET ON TRACTS OR LOTS, YOUR BID WILL NOT BE ACCEPTED.
58. AGENCY: ALEXANDER AUCTIONS AGENTS AND REPRESENTATIVES ARE AGENTS FOR THE SELLER. BUYER AND OR BIDDER AGREES TO HOLD HARMLESS AND INDEMNIFY ALEXANDER AUCTIONS AND ITS REPRESENTATIVES FROM ANY AND ALL CLAIMS, DAMAGES OR SUITS INCLUDING BUT NOT LIMITED TO AWARDS, JUDGMENTS, COSTS, FEES, ETC.
59. BACK-UP BIDS: IF YOU ARE NOT THE SUCCESSFUL BIDDER ON THE REAL ESTATE OR A PERSONAL PROPERTY LOT AND WISH TO MAKE A BACK-UP BID IN CASE OF DEFAULT BY THE HIGH BIDDER, PLEASE CONTACT ALEXANDER AUCTIONS TO RECEIVE A BACK-UP BIDDER FORM. EMAIL NOTIFICATION MAY BE SENT TO REGISTERED BIDDERS WITH UPDATED INFORMATION AS DEEMED NECESSARY BY THE AUCTION COMPANY.
60. OFF-SITE BIDDING: BIDDERS WHO BID OFF-SITE AND DO NOT MAKE AN INSPECTION UNDERSTAND AND ACKNOWLEDGE THAT THEY MAY NOT BE ABLE TO INSPECT THE PROPERTY AS WELL AS IF THEY EXAMINED IT IN PERSON. IT IS THE BIDDER’S RESPONSIBILITY TO DETERMINE CONDITION, AGE, GENUINENESS, VALUE OR ANY OTHER DETERMINATIVE FACTOR.
61. BIDDING APPROVAL: ALEXANDER AUCTIONS RESERVES THE RIGHT TO REMOVE OR CANCEL THE BIDS AND OR BIDDING RIGHTS AND PRIVILEGES OF ANY PARTY AT ANY TIME DEEMED NOT TO BE IN THE BEST INTEREST OF THE SELLER. THE IDENTITY OF ALL BIDDERS WILL BE VERIFIED, BIDDING RIGHTS ARE PROVISIONAL AND IF COMPLETE VERIFICATION IS NOT POSSIBLE, ALEXANDER AUCTIONS WILL REJECT THE REGISTRATION, AND BIDDING ACTIVITY WILL BE TERMINATED.
62. AUCTION CANCELLATION – BID REJECTION: ALEXANDER AUCTIONS RESERVES THE RIGHT TO REJECT ANY AND ALL BIDS FOR ANY REASON. ALEXANDER AUCTIONS 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, IN THE EVENT OF AN INTERNET FAILURE OR IF THE BIDDING PLATFORM FAILS OR CRASHES.
63. ACCEPTANCE OF BID PRICES: THE AUCTIONEER SHALL MAKE THE SOLE AND FINAL DECISION AS TO THE WINNING HIGH BID AMOUNT. ACCEPTANCE BY THE ONLINE BIDDING PLATFORM DOES NOT NECESSARILY CONSTITUTE AN ACCEPTED BID BY THE AUCTIONEER. SUCCESSFUL BIDDER AND OR BUYER(S) WILL BE REQUIRED TO ENTER INTO A PURCHASE AGREEMENT CONTRACT IMMEDIATELY FOLLOWING THE CLOSE OF THE AUCTION. ALEXANDER AUCTIONS WILL EMAIL DOCUMENTS TO BE EXECUTED AND FAX OR EMAIL BACK TO ALEXANDER AUCTIONS WITHIN 24 HOURS OF THE END OF THE AUCTION. SUCCESSFUL BIDDER AND OR BUYER(S) NOT EXECUTING AND RETURNING CONTRACTS WITH EARNEST MONEY DEPOSIT WITHIN 24 HOURS WILL BE CONSIDERED IN DEFAULT. ALEXANDER AUCTIONS RESERVES THE RIGHT TO SELL TO THE NEXT HIGHEST QUALIFIED BIDDER OR ANOTHER 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.
64. ALEXANDER AUCTIONS INVOLVEMENT IN THIS CONTRACT: BOTH THE SELLER AND BUYER HEREBY AGREE THAT ALEXANDER AUCTIONS & REAL ESTATE SALES IS THE PROCURING CAUSE OF THE SALE CONTRACT AND SHALL RECEIVE COMPENSATION AS STATED IN THE AGREEMENT HERETO OR AS STATED IN THE LISTING AGREEMENT HEREBY MADE A PART OF.
65. NO WARRANTY: PREREQUISITE TO BIDDING IS THAT THE REAL ESTATE AND PERSONAL PROPERTY IS PURCHASED ABSOLUTELY “AS IS” WITH NO WARRANTY WHATSOEVER AS TO THE CONDITION OF THE SAME.
66. CLOSING REQUIREMENTS: PURCHASERS SHOULD CONTACT THEIR ATTORNEY OR TITLE COMPANY TO COMPLETE THEIR TITLE OPINION IMMEDIATELY. CONTRACT DOES NOT PROVIDE FOR AN EXTENSION DUE TO AN ATTORNEY OR TITLE COMPANY FAILING TO COMPLETE TITLE WORK OR YOUR LOAN CLOSING NOT BEING SET UP TO CLOSE ON OR BEFORE APRIL 25TH, 2022.
67. RISK OF LOSS: ANY RISK OF LOSS TO THE PROPERTY SHALL BE BORNE BY SELLER UNTIL DEED HAS BEEN CONVEYED TO THE PURCHASER.
68. TERMINOLOGY: AS THE CONTEXT MAY REQUIRE IN THESE TERMS (1) THE SINGULAR SHALL MEAN THE PLURAL AND VICE VERSA; (2) ALL PRONOUNS SHALL MEAN AND INCLUDE THE PERSON, ENTITY, FIRM OR CORPORATION TO WHICH THEY RELATE.
69. ADDITIONAL AUCTION INFORMATION: ALL INFORMATION PUBLISHED, ANNOUNCED OR CONTAINED HEREIN WAS DERIVED FROM SOURCES BELIEVED TO BE CORRECT; HOWEVER, IT IS NOT GUARANTEED BY THE SELLER OR THE AUCTIONEER. PERSONAL ON-SITE INSPECTION OF ALL PROPERTY IS RECOMMENDED. THE FAILURE OF ANY BIDDER TO INSPECT, OR TO BE FULLY INFORMED AS TO THE CONDITION OF THE PROPERTY, WILL NOT CONSTITUTE GROUNDS FOR ANY CLAIM OR DEMAND FOR ADJUSTMENT OR WITHDRAWAL OF BID, OFFER OR DEPOSIT MONEY AFTER ITS OPENING TENDER. THIS INCLUDES BUT IS NOT LIMITED TO PUBLIC INFORMATION SUCH AS EASEMENTS, RESTRICTIONS, ZONING, RIGHTS-OF-WAY, OR ANY OTHER INFORMATION THAT CAN BE OBTAINED AS PUBLIC RECORD IN THE APPROPRIATE COUNTY COURTHOUSE CONCERNING SUBJECT PROPERTIES.
70. INTERNET BIDDING: INTERNET BIDDERS WHO DESIRE TO MAKE CERTAIN THEIR BID IS ACKNOWLEDGED SHOULD LEAVE THEIR MAXIMUM BID 24 HOURS BEFORE THE AUCTION ENDS. EMAIL NOTIFICATIONS MAY BE SENT TO REGISTERED BIDDERS WITH UPDATED INFORMATION AS DEEMED NECESSARY BY ALEXANDER AUCTIONS.
71. IF YOU HAVE ANY PROBLEMS WITH THE WEBSITE, CALL MARKNET CUSTOMER SERVICE AT 1-888-307-6545 AND/OR ALEXANDER AUCTIONS AT (731) 587-4244.
72. HEALTH RISK: I UNDERSTAND THE RISK ASSOCIATED WITH BEING OUTSIDE OF MY HOME AND THE PROXIMITY OF OTHERS DURING THE COVID-19 VIRUS PANDEMIC. I UNDERSTAND THE COVID-19 VIRUS IS HIGHLY INFECTIOUS AND CONTAGIOUS. I ACKNOWLEDGE THE ACTIVITIES TO WHICH THIS RELEASE APPLIES CAN BE DANGEROUS, I AM ACCEPTING THOSE RISKS FOR MYSELF AND FOR ANY PARTICIPANTS WHO MAY BE IN MY CARE. I ACKNOWLEDGE RECEIPT OF THE COVID-19 SAFE PRACTICES SHEET DETAILED AT ALEXANDER AUCTIONS & REAL ESTATE SALES WEBSITE. I FURTHER ACKNOWLEDGE THAT I AM FAMILIAR WITH LOCAL, STATE AND FEDERAL GUIDELINES AND EXECUTIVE ORDERS RELATED TO THE COVID-19 VIRUS AND SOCIAL DISTANCING. I AM PARTICIPATING AT THE AUCTION OF MY OWN FREE WILL.
73. LIABILITY WAIVER AND RELEASE: BY AGREEING TO THESE TERMS AND BIDDING ON THIS AUCTION, YOU VOLUNTARILY RELEASE, INDEMNIFY, DEFEND AND HOLD ALEXANDER AUCTIONS & REAL ESTATE SALES AND SELLER, AND THEIR RESPECTIVE AGENTS AND EMPLOYEES (EACH A “RELEASED PARTY”) FROM ANY AND ALL LIABILITIES, CLAIMS, LOSSES, CAUSES OF ACTION OR EXPENSE OF ANY KIND, INCLUDING REASONABLE ATTORNEYS’ FEES, RESULTING FROM A RELEASED PARTY’S NEGLIGENT ACT OR OMISSION, ARISING OUT OF MY PARTICIPATION IN AND PRESENCE WHETHER RELATED TO BODILY INJURY, INFECTION DUE TO COVID-19 VIRUS, PROPERTY DAMAGE, OR ANY OTHER FORM OF INJURY OR LOSS IN REGARD TO INSPECTION DAYS AND PAYMENT AND REMOVAL DAYS OF MY PHYSICAL ITEMS PURCHASED AT THE DYERSBURG ELEVATOR COMPANY AUCTION.
74. AUCTION NOTIFICATION: PROPERTY IS BEING SOLD SUBJECT TO THESE TERMS AND CONDITIONS AND EXHIBITS AND ATTACHMENTS WHICH WILL BE ATTACHED TO THE PURCHASE AND SALE AGREEMENT (CONTRACT) FOR FUTURE REFERENCE.
75. REVIEW THE PERSONAL PROPERY TERMS AND THE REMOVAL OF PERSONAL PROPERTY TERMS FOR ANY PERSONAL PROPERTY IN THE AUCTION.
76. PLEASE DO NOT WIRE FUNDS WITHOUT VERBALLY VERIFYING THE WIRING INSTRUCTIONS AND CASH TO CLOSE AMOUNT PRIOR WITH SOMEONE FROM OUR OFFICE. REMEMBER: INQUIRE BEFORE YOU WIRE. WARNING – FRAUDULENT FUNDING INSTRUCTIONS: EMAIL HACKING AND FRAUD ARE ON THE RISE TO FRAUDULENTLY MISDIRECT FUNDS. PLEASE CALL OUR OFFICE IMMEDIATELY USING CONTACT INFORMATION FOUND FROM AN INDEPENDENT SOURCE, SUCH AS THE SALES CONTRACT, INVOICE OR INTERNET TO VERIFY ANY FUNDING INSTRUCTIONS RECEIVED. WE ARE NOT RESPONSIBLE FOR ANY WIRES SENT BY YOU TO AN INCORRECT BANK ACCOUNT.
77. ACCEPTANCE: ALL BIDDERS AGREE AND ACCEPT THESE TERMS AND CONDITIONS AND AGREE TO BID ACCORDING TO THESE TERMS BY REGISTERING FOR A BID NUMBER.
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
239 University St., Martin, TN 38237
Office: (731) 587-4244 * Cell: (731) 225-7368
Email: [email protected]
GENERAL AUCTION TERMS AND CONDITIONS
LESLIE B. LASSITER ESTATE
4521 AUSTIN SPRINGS ROAD, DUKEDOM, TN 38226
PERSONAL PROPERTY AUCTION
VEHICLES, FARM EQUIPMENT, HORSE DRAWN EQUIPMENT, TOOLS, FURNITURE, COLLECTIBLES, & MISC.
ON-LINE ONLY AUCTION – EXTENDED BIDDING FEATURE
BIDDING ENDS – TUESDAY ~ MAY 16TH AT 12 NOON & 3:15 P.M. & WEDNESDAY, MAY 17TH, 2023 – 12 NOON
BIDDERS MUST REGISTER WITH ALEXANDER AUCTIONS & REAL ESTATE SALES AT WEBSITE (www.alexanderauctions.com)
BIDDERS
ALL BIDDERS MUST REVIEW THESE AUCTION TERMS AND CONDITIONS AND AGREE TO ENTER BIDS ACCORDING TO THESE TERMS AND CONDITIONS.
1. THE PROPERTY LISTED AND DESCRIBED ON THE ATTACHED LIST WILL BE OFFERED UNDER THE FOLLOWING TERMS AND CONDITIONS OF SALE, WHICH TERMS AND CONDITIONS OF SALE AND DESCRIPTIONS OF ITEMS LISTED ON THE ATTACHED, MAY BE AMENDED, UPDATED OR ALTERED AT THE TIME AND DURING THE SALE BY THE AUCTION COMPANY.
2. THESE TERMS AND CONDITIONS OF SALE AND ANY ANNOUNCEMENTS FROM THE AUCTION COMPANY SHALL BE BINDING ON ANY BIDDER, WHETHER PRESENT, REPRESENTED BY AN AGENT OR ABSENTEE BIDDER. BUYERS ARE BOUND BY THESE TERMS AND CONDITIONS OF SALE.
3. TERMS OF SALE: ALL PROPERTY IS SOLD “AS-IS’ AND ‘WHERE-IS’ AND NEITHER ALEXANDER AUCTIONS & REAL ESTATE SALES NOR THE SELLER MAKES ANY EXPRESS OR IMPLIED WARRANTY OR REPRESENTATION OF ANY KIND OR NATURE WITH RESPECT TO THE PROPERTY BEING SOLD. IN NO EVENT SHALL ALEXANDER AUCTIONS & REAL ESTATE SALES OR THE SELLER BE RESPONSIBLE FOR THE CORRECTNESS OF OR BE DEEMED TO HAVE MADE ANY REPRESENTATION OR WARRANTY OF MERCHANTABILITY, FITNESS FOR PURPOSE, DESCRIPTION, SIZE, GENUINENESS, YEAR OF MANUFACTURE, ATTRIBUTION, PROVENANCE OR CONDITION CONCERNING THE PROPERTY OR ANY WARRANTY THAT ANY ITEM COMPLIES WITH ANY APPLICABLE FEDERAL OR STATE LAWS. NO STATEMENT SET FORTH IN THE ATTACHED LIST OR MADE AT THE SALE OR IN THE BILL OF SALE OR INVOICE OR ELSEWHERE, WHETHER ORAL OR WRITTEN, SHALL BE DEEMED SUCH A WARRANTY OR REPRESENTATION OR AN ASSUMPTION OF LIABILITY. ALEXANDER AUCTIONS & REAL ESTATE SALES MAKES NO REPRESENTATION OR WARRANTY AS TO THE ACCURACY OF THE DESCRIPTIONS OR REPRESENTATIONS WHICH WERE PROVIDED BY THE SELLER AND ARE LISTED ON THE ATTACHED OR AS TO THE CONDITION OF THE ITEM.
4. CONDITIONS OF ITEMS SOLD: ALL INFORMATION IS BELIEVED TO BE ACCURATE; HOWEVER, THE AUCTIONEER SHALL NOT BE RESPONSIBLE FOR THE CORRECT DESCRIPTION, AUTHENTICITY, GENUINENESS OF OR DEFECT IN ANY LOT, AND MAKES NO WARRANTY IN CONNECTION THEREWITH. NO ALLOWANCES WILL BE MADE OR SALE SET ASIDE ON ACCOUNT OF ANY INCORRECTNESS, ERROR IN CATALOGING OR ANY IMPERFECTION NOT NOTED. NO DEDUCTION WILL BE ALLOWED ON DAMAGED ARTICLES AS ALL GOODS BEING EXPOSED FOR PUBLIC EXHIBITION ARE SOLD “AS IS” AND WITHOUT RECOURSE.
5. LOCATION: ITEMS LOCATED ON-SITE AT 4521 AUSTIN SPRINGS ROAD, DUKEDOM, TN 38226
6. EXTENDED BIDDING: EACH TIME A BID IS PLACED ON AN ITEM IN THE FINAL FIVE (5) MINUTES OF THE CLOSING TIME, BIDDING TIME FOR THAT ITEM WILL BE AUTOMATICALLY EXTENDED FIVE (5) MINUTES FROM THE TIME THE BID WAS PLACED ON THAT LOT. EXAMPLE: IF AN AUCTION IS SCHEDULED TO END AT 1 P.M. AND AN ITEM RECEIVES A BID AT 12:59 P.M., THE CLOSING TIME OF THAT ITEM AUTOMATICALLY EXTENDS TO 1:05 P.M. THE AUTO-EXTEND FEATURE REMAINS ACTIVE ON THAT LOT UNTIL NO FURTHER BIDS ARE RECEIVED WITHIN A FIVE-MINUTE TIME FRAME ON THAT LOT. LOTS WHICH DO NOT RECEIVE A BID IN THE LAST 5 MINUTES WILL CLOSE AT PUBLISHED TIME.
7. LOTS 81 THROUGH REMAINING LOTS IN CATALOG 2 SELL UNDER THESE EXTENDED BIDDING TERMS. LOTS ARE SET TO CLOSE EVERY 15 MINUTES SUBJECT TO EXTENSIONS.
8. EXTEND ALL DYNAMIC BIDDING: THE REAL ESTATE TRACTS AND LOTS IN CATALOG 1 SELL UNDER THE EXTEND ALL DYNAMIC BIDDING RULES. EACH TIME A BID IS PLACED ON AN ITEM IN THE FINAL FIVE (5) MINUTES OF THE CLOSING TIME, BIDDING TIME FOR ALL TRACTS AND LOTS IN CATALOG 1 WILL EXTEND 5 MINUTES. ALL LOTS WILL REMAIN OPEN FOR BIDDING UNTIL NO BIDS ARE PLACED IN THE LAST 5 MINUTES. ALL LOTS CLOSE AT THE SAME TIME.
9. BUYER’S PREMIUM: A 10% BUYER’S PREMIUM WILL BE ADDED TO THE HIGHEST BID ON EACH ITEM TO REACH THE TOTAL SALES PRICE.
10. BIDDERS ARE REQUIRED TO PRE-REGISTER FOR A BIDDING NUMBER AND GIVE EVIDENCE OF THEIR CREDIT-WORTHINESS.
11. TO BE AN APPROVED ON-LINE BIDDER AT THIS AUCTION YOU MUST HAVE A VALID VISA OR MASTERCARD CREDIT CARD ON FILE.
12. BUYERS: YOUR CREDIT CARD WILL BE CHARGED IMMEDIATELY FOLLOWING THE AUCTION FOR ITEMS UNDER $500.00 TOTAL WHEN CREDIT CARDS ARE ACCEPTED PAYMENT.
13. PAYMENT: BUYER AGREES THAT ALL PURCHASES MUST BE PAID IN FULL NO LATER THAN MAY 18TH, 2023 BY 5 P.M. ALL PAYMENTS ARE TO BE MADE IN U.S. CURRENCY BY CASH, WIRE TRANSFER, CASHIER'S CHECK, CERTIFIED BANK CHECK, OR PERSONAL CHECK WITH IRREVOCABLE LETTER OF GUARANTY IN FAVOR OF ALEXANDER AUCTIONS & REAL ESTATE SALES, REQUIRED OF ALL PURCHASERS NOT PERSONALLY KNOWN BY THE AUCTION COMPANY. BUYERS ARE RESPONSIBLE FOR ANY WIRE TRANSFER. PURCHASERS WHO WISH TO PAY BY PERSONAL CHECK MUST BE CLEARED BY ALEXANDER AUCTIONS & REAL ESTATE SALES OR BY THE SELLER.
14. CREDIT CARDS: ONLY ACCEPT A TOTAL PAYMENT OF $500.00 PLUS THE BUYER’S PREMIUM PER 1 OR MORE ITEMS. A 5% SERVICE FEE WILL BE CHARGED WITH ALL CREDIT CARD PAYMENTS. THE CREDIT CARD ON FILE WILL BE CHARGED IMMEDIATELY FOLLOWING THE AUCTION FOR THE FULL AMOUNT OF THE WINNING HAMMER PRICE PLUS PREMIUMS.
15. ALEXANDER AUCTIONS & REAL ESTATE SALES DOES NOT TOLERATE ANY EXCUSES FOR A CHECK THAT DOES NOT CLEAR. PERSONAL CHECKS ARE ACCEPTED FROM PEOPLE WHO WE HAVE APPROVED AND WE EXPECT THESE CHECKS TO CLEAR THE BANK IMMEDIATELY.
16. NO ITEMS CAN BE REMOVED THE DAY OF THE AUCTION – TUESDAY, MAY 16 & WEDNESDAY, MAY 17, 2023.
17. ALL ITEMS PURCHASED ARE TO BE PICKED UP AT THE AUCTION SITE: PICK UP DAYS ARE THURSDAY, MAY 18 TH FROM 1:30 P.M. TO 5 P.M., FRIDAY, MAY 19TH FROM 9:30 A.M. TO 4:30 P.M. AND SATURDAY, MAY 20TH FROM 9:30 A.M. TO 1 P.M. REMOVAL MUST BE BY APPOINTMENT. CALL (731) 587-4244 FOR APPOINTMENT.
18. REMOVAL OF ALL ITEMS: ALL ITEMS MUST BE REMOVED ON OR BEFORE SATURDAY, MAY 20TH, 2023 BY 1:30 PM. REMOVAL MUST BE ARRANGED BY APPOINTMENT.
19. SALES TAX: SALES TAX WILL NOT BE COLLECTED ON ANY ITEM IN THE AUCTION.
20. BUYER IS RESPONSIBLE FOR ALL LOADING INCLUDING LABOR AND REMOVAL. BRING OWN LOADING PERSONNEL. SELLER AND ALEXANDER AUCTIONS & REAL ESTATE SALES DO NOT PROVIDE LOADING.
21. ALL ITEMS MUST BE PICKED UP ONSITE – NO SHIPPING, UNLESS PRIOR APPROVAL BY ALEXANDER AUCTIONS ON SELECTED ITEMS WHICH ARE STILL PACKED. BUYER PAYS ALL COST INCLUDING MOVING AND TRANSPORTATION TO SHIPPER, ANY PACKING CHARGES, SHIPPING CHARGES, AND INSURANCE. ALL CHARGES WILL BE CHARGED TO YOUR CREDIT CARDS IMMEDIATELY AT THE TIME OF SHIPPING. IF YOUR CREDIT CARD IS DENIED THERE WILL BE A $30.00 CHARGE.
22. REMOVAL OF PROPERTY OR STORAGE: NONE OF THE PROPERTY MAY BE REMOVED FROM THE PREMISES UNTIL THE TOTAL PURCHASE PRICE HAS BEEN PAID. ALL ITEMS MUST BE REMOVED FROM AND OFF PREMISES BY SATURDAY, MAY 20TH, 2023 BY 1 P.M. ANY ITEMS LEFT AND NOT REMOVED FROM THE PREMISES REMAIN AT THE SOLE RISK OF THE BUYER. REMOVAL SHALL BE AT THE EXPENSE, LIABILITY, AND RISK OF THE PURCHASER. PURCHASES CAN BE REMOVED ONLY ON PRESENTATION OF ORIGINAL BILL OF SALE. PHOTOSTATS OF BILLS OF SALE WILL NOT BE ACCEPTED FOR REMOVAL. UPON FAILURE OF PURCHASER TO REMOVE GOODS WITHIN TIME SPECIFIED AS POSTED OR ANNOUNCED, AUCTIONEER SHALL HAVE THE OPTION OF REMOVING AND STORING THE GOODS AT EXPENSE AND RISK OF THE PURCHASER OR DEEMING MONEY DEPOSIT FORFEITED IN WHICH CASE AUCTIONEER MAY RESELL WITHOUT NOTICE AT PUBLIC SALE OR OTHERWISE DISPOSE OF GOODS AT RISK AND EXPENSE OF PURCHASER. PURCHASER SHALL REMAIN LIABLE FOR LOSS, EXPENSE AND DAMAGES ARISING FROM THE PURCHASER’S DEFAULT.
23. BIDDER CONTRACT: THIS BIDDER CONTRACT ENTERED INTO BETWEEN THE BIDDER WHOSE NAME IS REGISTERED AND ALEXANDER AUCTIONS & REAL ESTATE SALES SHALL GOVERN THIS AUCTION AND HE/SHE AGREES WITH THE TERMS AND CONDITIONS. ADDITIONAL TERMS WHICH MAY BE POSTED ON SITE OR POSTED ONLINE ON ALEXANDER AUCTIONS’ WEBSITE ARE JUST AS BINDING AS THE PRINTED TERMS AND CONDITIONS.
24. FULL PAYMENT: ALL ITEMS MUST BE PAID FOR IN FULL BEFORE ALL VEHICLES, TRAILERS, EQUIPMENT AND PERSONAL PROPERTY LEAVE THE PREMISES. NOTHING MAY BE REMOVED UNTIL IT IS SETTLED FOR. PAYMENT FOR PURCHASES MUST BE MADE BY CASH OR CASHIER’S CHECK, PERSONAL CHECK OR BUSINESS CHECK. LETTERS OF CREDIT OF GUARANTEE MUST BE FOR THIS AUCTION ONLY, ALONG WITH PROOF OF IDENTITY. BIDDER AGREES NOT TO STOP PAYMENT ON CHECKS OR DISALLOW A BANK DRAFT AND IS RESPONSIBLE FOR ANY EXPENSES DUE TO COLLECTION OF BAD CHECK. IN THE EVENT OF NON-PAYMENT OF BAD-CHECK, THE AUCTIONEER RESERVES THE RIGHT TO REPOSSESS THE MERCHANDISE INVOLVED, AT ANY TIME AT YOUR LOCATION.
25. COMPLIANCE WITH THE TERMS OF SALE: IN DEFAULT OF PAYMENT OF BILLS IN FULL WITHIN THE TIME ANNOUNCED FOR THIS AUCTION THE AUCTIONEER IN ADDITION TO ALL OTHER REMEDIES ALLOWED BY LAW, MAY RETAIN ALL MONIES RECEIVED AS DEPOSIT OR OTHERWISE, AS LIQUIDATED DAMAGES. LOTS NOT PAID FOR WITHIN THE TIME SPECIFIED HEREIN MAY BE RESOLD AT PUBLIC OR PRIVATE SALE WITHOUT FURTHER NOTICE. ANY RESULTING DEFICIENCY TOGETHER WITH ALL EXPENSES AND COSTS OF RE-SALE WILL BE THE RESPONSIBILITY OF THE DEFAULTING PURCHASER. EACH BUYER IN MAKING A BID DOES HEREWITH AGREE TO COMPLY WITH THE TERMS AND CONDITIONS AS HEREIN STATED AND AS OTHERWISE SET FORTH. THE FAILURE OR DEFAULT BY A SUCCESSFUL BUYER TO FULLY COMPLY WITH THE TERMS AND CONDITIONS HEREIN WILL BE TREATED AS AN IMMEDIATE BREACH AND THE DEPOSIT AS MADE RETAINED AND APPLIED TOWARD ANY DEFICIT IN ADDITIONAL COSTS OR CHARGES AS INCURRED TO AFFECT THE RESALE OF THAT PROPERTY AT PRIVATE OR PUBLIC SALE. THERE SHALL BE NO FURTHER NOTICE REQUIRED TO THE BUYER ONCE A DEFAULT HAS OCCURRED. THE OBLIGATION OF THE BUYER SHALL BE FOR COSTS AS INCURRED, PLUS ANY DEFICIT INCLUDED ARISING FROM THE BUYER’S DEFAULT.
26. ALEXANDER AUCTIONS ESTABLISHES BID INCREMENTS: ALEXANDER AUCTIONS RESERVE THE RIGHT TO CHANGE THE BID INCREMENTS BY INCREASING OR DECREASING AT ANY TIME. BID INCREMENTS ARE INDICATED ONLINE IN THE BID PROGRAM.
27. BIDDERS WHO BID OFF-SITE AND ARE NOT PRESENT AT THE PREVIEW UNDERSTAND AND ACKNOWLEDGE THAT THEY MAY NOT BE ABLE TO INSPECT AN ITEM AS WELL AS IF THEY EXAMINED IT IN PERSON. IT IS THE BIDDER’S RESPONSIBILITY TO DETERMINE CONDITION, AGE, GENUINENESS, VALUE OR ANY OTHER DETERMINATIVE FACTOR.
28. ALEXANDER AUCTIONS & REAL ESTATE SALES IS PROVIDING INTERNET AUCTION BIDDING AS A SERVICE TO BIDDER. BIDDER ACKNOWLEDGES AND UNDERSTANDS THAT THIS SERVICE MAY OR MAY NOT FUNCTION CORRECTLY THE DAY OF THE AUCTION. UNDER NO CIRCUMSTANCES SHALL BIDDER HAVE ANY KIND OF CLAIM AGAINST ALEXANDER AUCTIONS & REAL ESTATE SALES OR ANYONE ELSE IF THE INTERNET SERVICE FAILS TO WORK CORRECTLY BEFORE OR DURING THE LIVE AUCTION. ALEXANDER AUCTIONS & REAL ESTATE SALES WILL NOT BE RESPONSIBLE FOR ANY MISSED BIDS FROM ANY SOURCE. INTERNET BIDDERS WHO DESIRE TO MAKE CERTAIN THEIR BID IS ACKNOWLEDGED SHOULD LEAVE THEIR MAXIMUM BID 24 HOURS BEFORE THE AUCTION BEGINS.
29. ALL SALES ARE FINAL. ALL PURCHASERS ARE RESPONSIBLE FOR THE ITEM UPON THE FALL OF THE HAMMER. FALL OF THE HAMMER IN THIS ON-LINE AUCTION SHALL BE WHEN THE BIDDING ENDS AND THE FINAL BIDDER BECOMES THE WINNER. ALEXANDER AUCTIONS & REAL ESTATE SALES WILL NOT ACCEPT ANY MERCHANDISE BACK BECAUSE YOU HAVE DECIDED THAT YOU DO NOT WANT IT OR YOU HAVE DECIDED YOU OVERPAID FOR IT. IF YOU PURCHASE AN ITEM AND LEAVE AND DO NOT PAY FOR IT, THEN WE WILL PROCEED TO COLLECT FOR THE ITEM IN A LEGAL MANNER.
30. WARRANTY: ALL ITEMS ARE SOLD “AS IS”, “WHERE IS”, WITHOUT GUARANTEE OF ANY KIND. NO WARRANTY ON QUALITY, CONDITION, MERCHANTABILITY, OR FITNESS FOR INTENDED USE OR ANY PARTICULAR PURPOSE OR PARTICULAR USE IS GIVEN. ALL MERCHANDISE IS CONSIDERED USED AND ALL SALES ARE FINAL!! NO RETURNS OR CHARGE BACKS ALLOWED! RETURNS AND CHARGE BACKS WILL RESULT IN A BLACK FLAG WITH MARKNET ALLIANCE.
31. THE DESCRIPTIONS OF ITEMS APPEARING IN ADVERTISING PRIOR TO THIS AUCTION ARE BELIEVED TO BE CORRECT. NEVERTHELESS, NEITHER THOSE DESCRIPTIONS NOR ANY ORAL STATEMENTS MADE BY THE OWNER (OR HIS AGENTS OR OFFICERS) OR THE AUCTIONEER (OR HIS AGENTS OR OFFICERS) CONCERNING ANY ITEM SHALL BE CONSTRUED AS A WARRANTY, EITHER EXPRESSED OR IMPLIED. BIDDER AGREES TO INSPECT THE PHOTOS OF THE ITEMS THEY ARE BIDDING ON AND TO SATISFY THEMSELVES AS TO THE PROPER NAME, AGE, AND CONDITION OF THE ITEM. I, THE BIDDER, HAVE EXAMINED THIS MERCHANDISE AND ACCEPT IT IN “AS IS” CONDITION.
32. ATTORNEY FEES: IN AN ACTION ARISING OUT OF THIS AGREEMENT, THE PREVAILING PARTY SHALL BE ENTITLED TO REASONABLE ATTORNEY FEES AND COSTS.
33. ANY COURT LITIGATION SHALL BE IN WEAKLEY COUNTY, TN.
34. ALEXANDER AUCTIONS & REAL ESTATE SALES WILL NOT TOLERATE ANY PILFERING OR TAKING OF ANY ITEM OR THEFT OF ANY ITEM. ANY WRONGDOING WILL BE PROSECUTED TO THE FULLEST EXTENT OF THE LAW.
35. CONFIRMATION OF PURCHASE: TITLE TO THE PROPERTY SHALL PASS TO THE BUYER UPON THE FALL OF THE AUCTIONEER'S HAMMER OR CLOSE OF THE AUCTION, SUBJECT TO THE COMPLIANCE OF THE CONDITIONS OF SALE. BUYER ASSUMES ALL RESPONSIBILITY FOR THE ITEM OR ITEMS AND SHALL PAY THE TOTAL PURCHASE PRICE.
36. UCC SECTION 2-328 (4) DISCLAIMER: SECTION 2-328(4) OF THE UCC STATES, “IF THE AUCTIONEER KNOWINGLY RECEIVES A BID ON THE SELLER’S BEHALF OR THE SELLER MAKES OR PROCURES SUCH A BID, AND NOTICE HAS NOT BEEN GIVEN THAT LIBERTY FOR SUCH BIDDING IS RESERVED, THE BUYER MAY AT HIS OPTION VOID THE SALE OR TAKE THE GOODS AT THE PRICE OF THE LAST GOOD FAITH BID PRIOR TO THE COMPLETION OF THE SALE.” ACCORDINGLY, THE SELLER AND THEIR AGENTS, HEREBY, RESERVE THE RIGHT TO BID AT TODAY’S AUCTION.
37. INTERNET BIDDERS WHO DESIRE TO MAKE CERTAIN THEIR BID IS ACKNOWLEDGED SHOULD USE THE PROXY-BIDDING FEATURE AND LEAVE THEIR MAXIMUM BID 24 HOURS BEFORE THE AUCTION BEGINS.
38. INTERNET & ON-SITE BIDDERS ARE INFORMED SOME LOTS ARE SOLD AS A SINGLE LOT & SOME LOTS ARE SOLD INDIVIDUALLY (TIMES THE MONEY PER PIECE).
39. PURCHASERS SHALL PROVIDE THEIR OWN PHYSICAL AND LIABILITY INSURANCE COVERAGE FOR THEMSELVES, EMPLOYEES AND THEIR RIGGERS. PURCHASERS ARE RESPONSIBLE FOR THEIR OWN INSURANCE COVERAGE FOR PROPERTY DAMAGE AND LIABILITY COVERAGE FOR THEMSELVES, THEIR EMPLOYEES, THEIR RIGGERS AND DYERSBURG ELEVATOR COMPANY WHILE VISITING, LOADING AND REMOVING PURCHASES. PURCHASERS SHALL HOLD HARMLESS THE SELLERS AND ALEXANDER AUCTIONS & REAL ESTATE SALES FROM ANY LIABILITY OR PROPERTY DAMAGE CAUSED BY THEM.
40. ALEXANDER AUCTIONS & REAL ESTATE SALES AND THE SELLER IS NOT AND WILL NOT BE RESPONSIBLE FOR OR FURNISH ANY SECURITY FOR ITEMS AFTER THE FALL OF THE HAMMER VEHICLES, FARM EQUIPMENT, YARD FURNITURE ARE LOCATED OUTSIDE. ALL OTHER ITEMS ARE LOCATED IN THE HOUSE, STORAGE BUILDING, AND BARN.
41. INSURE ITEMS WHEN YOU PURCHASE THEM.
42. BIDS: ALEXANDER AUCTIONS & REAL ESTATE SALES RESERVES THE RIGHT AND DOES ACCEPT ABSENTEE BIDS FROM INDIVIDUALS AND WILL ATTEMPT TO EXECUTE THESE BIDS. ITEMS WILL BE SOLD TO SAID INDIVIDUALS PROVIDED THEY ARE THE HIGH BIDDER. IF ANYONE WOULD LIKE TO LEAVE AN ABSENTEE BID ON ANY ITEM, GO TO THE OFFICE OF ALEXANDER AUCTIONS & REAL ESTATE SALES, 239 UNIVERSITY STREET, MARTIN, TN, SIGN A FORM, AND LEAVE PAYMENT. YOUR BID WILL BE EXECUTED. IN THE EVENT YOU ARE NOT THE SUCCESSFUL BIDDER, YOUR MONEY WILL BE REFUNDED.
43. DISPUTE BETWEEN BIDDERS: IF ANY DISPUTE ARISES BETWEEN TWO OR MORE BIDDERS, THE AUCTIONEER MAY DECIDE THE SAME OR MAY IMMEDIATELY PUT THE LOT OR ITEM UP FOR SALE AGAIN, AND RE-SELL TO THE HIGHEST BIDDER. THE DECISION OF THE AUCTIONEER SHALL BE FINAL AND ABSOLUTE.
44. ADDITION TO OR WITHDRAWAL FROM SALE: THE AUCTIONEER RESERVES THE RIGHT TO WITHDRAW FROM SALE ANY OF THE ITEMS; TO SELL AT THIS AUCTION ITEMS NOT LISTED; TO GROUP ONE OR MORE LOTS INTO ONE OR MORE SELLING LOTS OR TO SUBDIVIDE INTO TWO OR MORE SELLING LOTS. THE AUCTIONEER ALSO RESERVES THE RIGHT TO SELL ALL OF THE ITEMS LISTED IN BULK.
45. AUCTIONEER: THE AUCTIONEER, WHEN ACTING AS AGENT, IS NOT RESPONSIBLE FOR ACTS OF ITS PRINCIPALS.
46. OWNERSHIP: ALL ITEMS BECOME THE SOLE RESPONSIBILITY OF THE PURCHASER IMMEDIATELY AT KNOCKDOWN. NO REFUNDS OR ADJUSTMENTS WILL BE ALLOWED FOR ANY SHORTAGES. IF YOU BELIEVE YOU ARE ENTITLED TO AN ADJUSTMENT TO YOUR INVOICE DUE TO MISSING OR DAMAGES ITEM(S), YOU, YOUR MOVER OR YOUR RIGGER MUST REPORT THE PROBLEM TO OUR ON-SITE SUPERVISOR PRIOR TO SETTLEMENT AND PRIOR TO THE ITEMS LEAVING THE PROPERTY. ONCE THE ITEM HAS LEFT THE PROPERTY, THERE WILL BE NO ADJUSTMENTS. WHEN YOU HIRE A MOVER/RIGGER, THE MOVER/RIGGER IS ACTING AS YOUR AGENT. WE WILL NOT ACCEPT THAT THE MOVER/RIGGER DID NOT NOTIFY YOU OF A MISSING OR DAMAGED ITEM(S) OR THAT IT WAS DISCOVERED THAT AN ITEM(S) WAS MISSING OR DAMAGED WHEN YOUR
PURCHASES WERE DELIVERED TO YOUR FACILITY. ALL BIDDERS AND MOVERS/RIGGERS MUST BE AWARE OF THIS POLICY! IF FOR ANY REASON WHATSOEVER, A PROPERTY AS BID, CANNOT BE DELIVERED WITHIN THAT PERIOD OF TIME PROVIDED FOR AT THE SALE, THE BUYER EXPRESSLY WAIVES LIABILITY ON THE PART OF ALEXANDER AUCTIONS & REAL ESTATE SALES, THE AUCTIONEER AND FURTHER AGREES THAT ANY OBLIGATION WITH RESPECT THERETO SHALL BE LIMITED TO THE BID AND PAID FOR SAID PROPERTY (ASSETS).
47. NON-DELIVERY RESPONSIBILITY: AUCTIONEER SHALL NOT, IN ANY EVENT, BE LIABLE FOR NON-REMOVAL OR FOR ANY OTHER MATTER TO ANY PURCHASER OF ANY LOT.
48. PERSONAL AND PROPERTY RISK: PERSONS ATTENDING DURING EXHIBITION, SALE OR REMOVAL OF GOODS ASSUME ALL RISKS OF DAMAGE OF OR LOSS TO PERSON AND PROPERTY AND SPECIFICALLY RELEASE AND INDEMNIFY ALEXANDER AUCTIONS & REAL ESTATE SALES, THE AUCTIONEER FROM LIABILITY THEREFORE. NEITHER ALEXANDER AUCTIONS & REAL ESTATE SALES, THE AUCTIONEER NOR HIS PRINCIPAL OR SELLER SHALL BE LIABLE BY REASON OF ANY DEFECT IN OR CONDITION OF THE PREMISES IN WHICH THE SALE IS HELD.
49. RECORDS: THE RECORD OF SALE KEPT BY ALEXANDER AUCTIONS & REAL ESTATE SALES, THE AUCTIONEER AND BOOKKEEPER WILL BE TAKEN AS FINAL IN THE EVENT OF ANY DISPUTE.
50. NOMINAL BIDS: ANY BID WHICH IS MERELY A NOMINAL OR FRACTIONAL ADVANCE MAY BE REJECTED BY THE AUCTIONEER, IF IN HIS JUDGMENT IT MAY AFFECT THE SALE NEGATIVELY.
51. THE BUYER DOES HEREBY ASSUME AND DOES AGREE TO INDEMNIFY AND HOLD ALEXANDER AUCTIONS & REAL ESTATE SALES, THE AUCTIONEER AND SELLER HARMLESS FROM ANY FUTURE CLAIM WHICH SHALL PERTAIN TO THE FITNESS OR USE OF THAT ASSET AS BEING PURCHASED.
52. ADDITIONAL TERMS AND CONDITIONS: ADDITIONAL TERMS OR CONDITIONS OF SALE MAY BE ADDED BY AUCTIONEER BY ANNOUNCEMENT OR POSTED ON THE PREMISES OR ONLINE PRIOR TO THE AUCTION.
53. CONDUCT OF AUCTION: ALEXANDER AUCTIONS & REAL ESTATE SALES, THE AUCTIONEER, RESERVES THE RIGHT, WITHOUT GIVING ANY REASON, TO PUT UP ITEMS OUT OF NUMERICAL SEQUENCE AND TO WITHDRAW ANY ITEM, ITEMS, OR LOT FROM THE AUCTION.
54. ANY BIDDERS APPROVED BY ALEXANDER AUCTIONS HAVE THE RIGHT TO BID IN THIS AUCTION, INCLUDING SELLERS, OWNERS, AUCTIONEERS, AND PERSONNEL WORKING IN THIS AUCTION.
55. ALL ANNOUNCEMENTS MADE FROM THE AUCTION STAND OR DURING THE AUCTION BIDDING PERIOD WILL TAKE PRECEDENCE OVER ANY PREVIOUS ANNOUNCEMENTS OR STATEMENTS.
56. PURCHASER SHALL BE RESPONSIBLE FOR THE LOADING AND MOVING OF THEIR ITEMS. ALEXANDER AUCTIONS & REAL ESTATE SALES DOES NOT FURNISH HELP TO LOAD OR MOVE ITEMS. IN THE EVENT AN EMPLOYEE OF ALEXANDER AUCTIONS & REAL ESTATE SALES ASSISTS IN THE MOVING OR LOADING OF AN ITEM, ALEXANDER AUCTIONS & REAL ESTATE SALES SHALL NOT BE RESPONSIBLE FOR ANY DAMAGE OR ACCIDENT THAT MAY OCCUR TO THE ITEM OR PERSON THEY ARE ASSISTING.
57. ALL ITEMS ARE SOLD “AS IS” WITHOUT A WARRANTY OR GUARANTEE MADE, EXPRESSED OR IMPLIED AS TO THE CONDITION OR FITNESS FOR USE.
58. PLEASE DO NOT WIRE FUNS WITHOUT VERBALLY VERIFING THE WIRING INSTURCTIONS AND CASH TO CLOSE AMOUNT PRIOR WITH SOMEONE FROM OUR OFFICE. REMEMBER: INQUIRE BEFORE YOU WIRE. WARNING: FRAUDULENT FUNDING INSTRUCTIONS: EMAIL HACKING AND FRAUD ARE ON THE RISE TO FRAUDULENTLY MISDIRECT FUNDS. PLEASE CALL OUR OFFICE IMMEDIAELY USING CONTACT INFORMATION FOUND FROM AN INDEPENDENT SOURCE, SUCH AS THE SALES CONTRACT, INVOICE OR INTERNET TO VERIFY ANY FUNDING INSTRUCTIONS RECEIVED. WE ARE NOT RESPONSIBLE FOR ANY WIRES SENT BY YOU TO AN INCORRECT BANK ACCOUNT.
WE APPRECIATE YOUR BIDDING AT THIS AUCTION & WILL BE GLAD TO ANSWER ANY QUESTIONS YOU MAY HAVE. CALL ALEXANDER AUCTIONS AND REAL ESTATE SALES AT 731-587-4244.
EXPLANATION OF WAYS TO BID:
Maximum Bid: The maximum amount you are willing to pay for a lot. Your bid will only increase by the minimum increment, but will automatically rise to your maximum bid as others bid up the lot over time.
“Forcing the Bid” is a bidding strategy by which a bidder increases the bid by more than the next accepted bid (placing your bid at $150.00 when the accepted bid is $50.00). This practice is used by some bidders to discourage others from bidding, in hopes of acquiring an item at a lower price. This prevents someone else from bidding your max bid first.
There are many theories on the effectiveness of this practice and a bidder who wishes to apply it does so at their own discretion. The Auction Company will not lower the price of an item that has been won by a “jumped” bid with no other competing bids.
Extend All/Dynamic Bidding Auctions may extend the bidding time on any lot that gets a bid within a certain amount of time of its scheduled closing time. The Auction will remain open for all lots until no bids are placed in the allotted amount of time. The Auctioneer will determine the number of minutes necessary to activate dynamic bidding ahead of time.
EXTENDED BIDDING: EACH TIME A BID IS PLACED ON AN ITEM IN THE FINAL FIVE (5) MINUTES OF THE AUCTION, BIDDING TIME FOR THAT ITEM WILL BE AUTOMATICALLY EXTENDED FIVE (5) MINUTES FROM THE TIME THE BID WAS PLACED ON THAT LOT. EXAMPLE: IF AN AUCTION IS SCHEDULED TO END AT 1 P.M. AND AN ITEM RECEIVES A BID AT 12:59 P.M., THE CLOSING TIME OF THAT ITEM AUTOMATICALLY EXTENDS TO 1:05 P.M. THE AUTO-EXTEND FEATURE REMAINS ACTIVE ON THAT LOT UNTIL NO FURTHER BIDS ARE RECEIVED WITHIN A FIVE-MINUTE TIME FRAME ON THAT LOT.
EXTEND ALL BIDDING: EACH TIME A BID IS PLACED ON A TRACT OF REAL ESTATE OR A LOT IN THE FINAL FIVE (5) MINUTES OF THE AUCTION, BIDDING TIME FOR ALL THE TRACTS OF REAL ESTATE AND LOTS IN THE AUCTION WILL EXTEND 5 MINUTES. ALL TRACTS AND PLOTS WILL REMAIN OPEN FOR BIDDING UNTIL NO BIDS ARE PLACED ON ANY TRACT OF REAL ESTATE OR ANY LOT IN THE LAST 5 MINUTES. ALL LOTS WILL CLOSE AT THE SAME TIME.
Alexander
AUCTIONS & REAL ESTATE SALES
MARVIN E. ALEXANDER, CAI - LIC 9
239 UNIVERSITY STREET ~ P.O. BOX 129 ~ MARTIN, TN 38237
Office: (731) 587-4244 ~ Email: [email protected]
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