|Location:||198 Pear Tree Way
Del Rio, TN 37727
|Number of Bids:||13|
|This is the final amount the asset was sold for. Winning Bid:||$47,000|
|Your Bid Status:||Log in to view status|
|Auction Started:||05-10-12 08:00 AM ET|
|Auction Closed:||05-17-12 03:11 PM ET|
|It is an extension of the auction close time and keeps an auction open as long as there is active bidding. It occurs automatically when a bid is placed within the last few minutes of an auction. The auction will remain open until an entire overtime increment has passed without any bidding. The overtime increment is indicated on the auction listing. Overtime Period:||5 minutes|
|Deposit Required:||$2,000 — See Instructions|
|Address||198 Pear Tree Way
Del Rio, TN 37727
|Number Of Bedrooms||2.00|
|Number Of Bathrooms||1.00|
The due diligence items below apply to all related auctions from this seller.
To bid on this auction, all bidders are required to become qualified by placing a deposit. The deposit of the winning bidder is automatically transferred to the seller at the end of the auction. If the winning bidder fails to perform on any auction, the entire BidDeposit will be forfeited to the seller. Non-winning bidders' deposits are refunded within (10) ten business days after the close of the auction. This deposit cannot be applied to other auctions. To find out more about the BidDeposit requirement, click here.
This property is offered for sale by IRS-CI. Clear title will be conveyed via a Government deed. Liens and/or encumbrances will be paid by the Government. Title insurance is available at Buyer's expense. Before placing a bid, you are required to read and agree to comply with the Department of the Treasury Terms and Conditions of Sale. By submitting a bid, you acknowledge full understanding of the Terms and agree to be bound by them. Therefore, you are cautioned to carefully read all applicable terms and conditions. Terms and Conditions of Sale can be downloaded here. Deposit of $2,000 required. Settlement Terms: certified/cashier's check or wire transfer.
Open House dates: Sunday, May 6 and Wednesday, May 9, 1:00 - 4:00 p.m.
Directions: From Knoxville take I-40 E for approx. 42.7 miles. Take exit 432B on the left for US-70 E/US 25W toward Newport. Merge onto TN-35/TN-9/US-25W/US-70. Continue to follow TN-9/US-70 for approx. 14.8 miles. Turn Right at TN-107. Turn Right on Blue Mill Road. Turn Right at Midway Rd. Turn Left at Strange Hollow Rd.(wooden sign) Slight Right to stay on Strange Hollow Rd. Turn Right at Pear Tree Way. Property will be on the right. NOTE: GPS will recognize 400 Strange Hollow Road.
To bid on this auction, all bidders are required to submit a BidDeposit of $2,000.
The placement of a successful bid at a Department of the Treasury online auction establishes a legally binding contract between the successful bidder and the Government and is subject to final acceptance by the Government. Once the successful high bid is established a final written sales contract will be prepared to include the individual information of the high bidder along with the high bid amount. A contract may also be conditionally established with the recognized back-up bidder for execution if the high bidder defaults for any reason or is rejected by the Government.
At the conclusion of bidding, an e-mail will be sent to the successful bidder confirming the bid amount. The successful bidder must acknowledge receipt of notice and supply information requested to validate the bid acceptance within 24 hours of the time the notice was sent. This acknowledgement confirms the price offered by the bidder and is subject to final acceptance by the Government. A contract document will be sent to the successful bidder for signature. The contract must be returned to EG&G Technical Services within 48 hours of receipt. At this time the contract will be presented to the Government and is subject to their final acceptance. The Government may withdraw the property at any time before the sales contract is accepted. During this process the successful bidder may not withdraw their bid at any time. Unilateral conditions asserted by any bidder will not be accepted.
The high bidder shall deliver ten percent (10%) of the Purchase Price less the initial money deposit, whichever is greater, to URS by cashier's/certified check, payable to URS or by bank wire transfer. Within three business days, should the high bidder fail to deliver the earnest money, Seller shall have all rights and remedies provided in the Terms of Sale, including the right to retain the initial money deposit and any other deposits or payments made by the high bidder as liquidated damages.
The successful bidder's deposit(s) will be retained as the initial payment for the property. Personal or business checks, bank letters, or letters of credit will not be accepted. Cashier's checks made payable to the bidder's name CANNOT be accepted.
The bidder who placed the bid accepted by the Government, is legally bound to pay for property awarded to him/her in accordance with the successful bid. Payment of the full purchase price must be made within the time specified on the auction site.
Closing will be held within 30 calendar days of the date the Government signs the sales contract accepting the buyer's offer. Closing may be held sooner, with mutual agreement of the buyer and seller. Only the Government may, at its discretion, exceed closing beyond 30 calendar days.
If the successful bidder does not perform, the bidder will forfeit the $2,000 Deposit to the Department of the Treasury. Closing costs, without limitation, transfer taxes, documentary stamps, recording fees, and escrow fees will be paid by the Buyer and the Government in accordance with the customs of the county in which the property is located. The successful bidder is required to use the Government closing agent of choice.