TERMS & CONDITIONS, READ ALL MATERIALS INCLUDING THE COURT'S TERMS AND CONDITIONS: Tract 9 and Tract 10 Little Piney Road Centerville, Hickman County TN Seller: Millie Sloan Special Commissioner and Receiver of Wilson County Tennessee for Estate of Alfred Earl Fisher Sr. Case # 2022-PR-569 Bidding Starts: November 26, 2024 at 10:00 a.m. CST Bidding Ends: December 6, 2024 at 5:00 p.m. CST Inspection Information: Land is open for inspection. Look for signs on the property. Buyer's Premium: There is an 8% Buyer's Premium in effect for this auction. Your high bid price will have 8% added to establish the contract sales price. Example: $ 50,000 high bid plus 8% Buyer's Premium = $54,000 Contract Price LAND DESCRIPTION: All of Tax Map 120 parcels 21.35 and 21.36 and including but not limited to: Certain tracts of parcels of land situated and lying in the First Civil District of Hickman County, State of Tennessee and being more particularly described as follows: TRACT #9: Being Tract No. 9 as shown on the Plat of Bear Creed Estates Section One of record in Cabinet B, Slide 207 Register's Office for Hickman County, Tennessee, to which reference is hereto made for a more complete legal description and containing 5.04 acres, more or less. TRACT #10: Being Tract No. 10 as shown on the Plat of Bear Creed Estates Section One of record in Cabinet B, Slide 207 Register's Office for Hickman County, Tennessee, to which reference is hereto made for a more complete legal description and containing 5.22 acres, more or less. " Agreement of Purchase & Sale Immediately following the close of the bidding, the high bidder will be required to enter into a Purchase and Sale Agreement via email DocuSign and wire a 10% down payment of the contract purchase price, to include the 8% buyer's premium, as earnest money, which is a non-refundable earnest money deposit. This wire must be received by 4:00 PM the following day of the auctions closing to Lee & Lee Attorneys, Lebanon, TN 615-444-1312. If the court doesn't approve the sale, your earnest money will be refunded, but that is the only exception. " Buyer's Premium A 8% Buyer's Premium will be added to the high bid price to determine the total contract sales price for the Property. Example: $ 50,000 high bid plus 8% Buyer's Premium = $54,000 Contract Price " Auction is Subject to Court Approval This auction is subject to court approval. The contract will be signed by the buyer and earnest money deposited. The buyer signed contract will be submitted to the Special Commissioner and Receiver, which will submit the contract to the court. This hearing for approval and confirmation will be held in approximately three weeks. After the Order of Confirmation is signed by the Judge, a closing will be scheduled with Lee & Lee Attorneys and will be conducted thirty (30) days after the approval of the sale, the court has the right to approve or deny the sale. " Bid Deposit / Authorization All bidders must receive a bid number to bid. A valid driver's license and credit card is required to bid. All bidders will be required to send the auctioneer a copy of your driver's license either by email or a photo texted to the auctioneer at 615-308-9009. Your name on your driver's license MUST match the name on your credit card. Upon request to bid and submitting your information, you will receive a call from the auctioneer to be qualified to bid. After speaking with the auctioneer, then, at the auctioneer's discretion, you will be approved to bid. We require all Onsite auction bidders to supply a valid driver's license as well as all Online bidders of real estate and personal property. Bidder agrees that a $500.00 hold can AND may be placed on their credit card for an internet service fee and that if they are the winning bidder and fail to close under the terms of this agreement, the $500 internet service fee is non-refundable and will be charged to their credit card. This authorization is not actually charged to your card. If they are not the winning bidder, the $500 internet service fee will be released, and the credit card will not be charged. The successful bidder will be required to sign the "Purchase and Sale Agreement" within 24 hours of auction close and deposit 10% of the total contract price into the closing attorney's escrow account, within the same 24 hours. Failure to do so will be considered a breach of contract. " Debit Card Warning We require bidders to secure their accounts with a credit card. Some of our auctions further require a deposit. If you use a credit card to secure your account, the auction deposit will take the form of a credit card authorization and will count against your credit limit for the duration of the authorization (up to 10 business days). Walker Auction & Realty, LLC highly recommends you secure your account with a credit card and is not responsible for any issues arising from the use of a debit card to secure your bidding account. Add a debit card at your own risk. " Auction Ending Beginning at the stated closing time, the auction software will conclude bidding with the following exception: if a bid is placed in the last 5 minutes remaining for that auction lot, bidding for that lot will remain open for an additional 5 minutes; and will continue to be extended until there are no more increases within the 5-minute time frame. " Soft Close Groups This auction will be using the soft close method. If a bid is placed in the last 5 minutes remaining in the auction, the bidding will remain open for an additional 5 minutes. " Payment and Closing The Purchaser shall pay a non-refundable amount equal to 10% of the total contract sales price to the Escrow Agent / Closing Attorney by 4:00 p.m. CST on the first business day following the conclusion of the auction. The Escrow Agent / Closing Attorney will only accept payment by wire transfer. The Purchaser will be charged for the wire transfer fee (typically $15.00). Purchaser shall pay the remainder of the total contract sales price at the real estate closing if the sale is approved by the court. Court approval will be held approximately three weeks from the conclusion of the auction. Closing shall take place 30 days after the judge approves the sale. The Escrow Agent / Closing Attorney will schedule and conduct the closing. Close of Escrow will be 30 days after the Approval of this Sale. This date is not to exceed Jan. 31st, 2025. " Escrow Agent / Closing Attorney The purchase monies, in respect to the real estate shall be paid to and deposited with: Lee & Lee Attorneys at Law, 109 East Gay St., Lebanon, TN 37087 615-444-1312 / Closing Attorney " Survey The Seller will NOT provide a boundary survey. The seller does not have the original survey. We will provide the deed description and the tax map description. Seller will not provide a new survey. Deed Seller shall provide a Deed. " Evidence of Title Auctioneer shall post a preliminary title of opinion on its website before the conclusion of the auction. Seller agrees to provide merchantable title to the Property subject to matters of record, general conditions of title and similar or related matters identified in the preliminary title commitment. " Title Insurance The Buyer will be required to obtain an owner's title insurance policy in the amount of the purchase price from the Closing Attorney at the Buyer's cost. If you have questions concerning title call Lee & Lee Attorney's at 615-444-3900 " Real Estate Taxes 2024 taxes will be prorated at the time of closing. Any back taxes and assessments will be paid by the seller from the proceeds of the sale. Closing Costs The seller shall pay the following closing costs: o Costs to prepare the deed o 50% of the closing agent's cost to close the sale o Any legal counsel retained by Owner in connection with the conveyance of the Property o Back taxes, if any The Purchaser shall pay the following costs: o Title policy/commitment fee o Any special endorsements to the title policy. o Any costs associated with title insurance issued in favor of Purchaser's lenders, if any. o All costs arising from or relating to any loan sought by Purchaser to finance the conveyance. o All recording costs, transfer taxes and mortgage taxes arising from the deed, deed of trust and any other financing documents required by Purchaser's lenders, if any. o 50% of the closing agent's cost to close the sale; and o Any legal counsel retained by Purchaser in connection with the conveyance of the Property " Cash Sale This is a cash sale and is not contingent on Purchaser's ability to obtain financing, or any other buyer contingency. (Buyer's may use financing; however, this sale is not contingent on financing, appraisals, or inspections that might be required by a lender and must be closed by the stated closing date) " Possession The Purchaser will receive possession at closing. " As-Is Sale The Purchaser shall accept the property in an as-is condition with all faults as of the closing date and the Purchaser shall specifically agree that the Seller has not and does not make any representations or warranties of any kind whatsoever, expressed or implied, to the purchaser regarding the property or any improvements thereon. All real estate, Land, buildings and improvements, if any, are being sold and purchased "AS-IS" without any warranties or guarantees, and representations as to fitness, use, habitability, merchantability, condition, age, shape, size, quality, quantity, environmental impact, conditions or hazards, condition of wells or subsurface conditions being expressed by sellers or their agents. The property is selling subject to: WILSON COUNTY PROBATE COURT'S TERMS AND CONDITIONS as well as: Anything an accurate survey or personal inspection of the property may reveal, including any existing right-of-way(s), easements or claims to easements. Subject to, any encroachments, easements, rights or claims of parties in possession, restrictive covenants, zoning or subdivision regulations, building codes, governmental agency regulations, environmental conditions, lead-based paint, asbestos, radon gas, hazardous materials, any mineral rights, water rights, riparian or littoral rights, and reservations or conveyances, if any. The Purchaser shall have satisfied himself as to the location and condition of the property and all descriptions prior to bidding. All information contained in the promotional materials, including, but not limited to, square footages, acreage, dimensions, maps, taxes, soils work, perk test, etc., as provided by the Seller and is believed to be correct; however, neither the Seller nor the Auctioneer makes any guarantee or warranty as to the accuracy or completeness of such information. Subject to restrictive covenants, if any, of record. Wilson County Probate Court's Terms and Conditions which are also attached to this auction site. PLEASE READ BOTH TERMS! " Soils/Perk Utility Water Information The seller has no knowledge of any soils test or perk information on these tracts of land. According to the Town of Centerville, there is no access to utility water at or near these tracts of land. According to Centerville Electric Department, electricity is available with easements across adjoining properties. The buyer is encouraged to contact the utility companies to satisfy any questions concerning access to utilities. " Agency Disclosure Walker Auction & Realty, LLC and its representatives are exclusive agents of the Seller and are agents of no other party to this transaction. Miscellaneous All decisions of the Auctioneer are final as to the methods of bidding, disputes among bidders, increments of bidding and any other matters that may arise before, during, or after the auction. Seller reserves the right to deny any person the right to participate in the auction or to ban anyone from the auction who attempts to disrupt it. " Equal Opportunity Clause All bidding is open to the public. The Property is available to qualified purchasers without regard to a prospective Purchaser's race, color, religion, sex, familial status, national origin or physical handicap. " Debt Collection & Interest Charge The bidder agrees to pay all reasonable attorney fees and other costs incurred by Walker Auction & Realty, LLC in its efforts to collect unpaid funds from the bidder. The bidder agrees that a fee of 2% of the outstanding balance per month be added to any unpaid balance due Walker Auction & Realty, LLC. Any debt collection or dispute proceedings of any kind will be heard in Wilson County, Tennessee. " Guaranty Agreement By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees payment of any bid amount not paid when due by the business entity or corporation, for any reason, together with all collection expenses incurred to enforce collection, including a reasonable attorney fee. " Age Requirement All bidders/purchasers must be 18 years of age or older. " Bidders Information and Security All registration information the bidder provides to Walker Auction & Realty LLC shall be current, complete and accurate. All bidders are responsible for any bids placed under their bidding numbers and passwords. Bidders must notify Walker Auction & Realty LLC if they believe that their bidder number and password have been compromised 615-308-9009. Under no circumstances shall Bidder have any kind of claim against Walker Auction & Realty LLC , or anyone else if the internet service fails to work correctly before or during the auction. Bidder agrees that by registering for the online auction, they have accepted all of these Terms and Conditions. Bidder is responsible for any and all bids placed by their account. " Before Bidding Potential bidders are encouraged to make their own inspections and due diligence prior to bidding on the property. NO BIDS WILL BE CANCELED OR RETRACTED FOR ANY REASONS! READ ALL MATERIALS PRIOR TO BIDDING. " Seller-Millie Sloan Special Commissioner and Receiver for Wilson County Tennessee for the Estate of Alfred Earl Fisher Sr. Case # 2022-PR-569 Jonathan Tinsley Executor for the estate 615-444-0001 WILSON COUNTY PROBATE COURT'S REAL ESTATE TERMS & CONDITIONS 1. This property is being sold under Order of the Probate Court of Wilson County, Tennessee, in the Estate of Alfred Earl Fisher, Sr., Case No.: 2023-PR-569, recorded in Minute Book 162, Page 201. 2. This sale is subject to the rules and regulations of the Probate Court for land sales, which requires the Judge's approval and confirmation of the sale to the Buyer. The hearing for the confirmation of the sale will be held in approximately three (3) weeks. 3. After the Order of Confirmation is signed by the Judge, a closing will be scheduled with Lee & Lee Attorneys at Law, P.C., and will be conducted thirty (30) days after the approval of the sale. 4. In addition to the purchase price and buyers' premium, Buyer will be responsible for paying all normal and customary costs typically charged for document preparation, recording fees and settlement fees incurred with a closing. 5. Title will be transferred to the Buyer by Deed provided by the Special Commissioner & Receiver and as mandated by the court order. 6. The real estate being sold is being conveyed by the current recorded deed description. The court will not provide a new survey. 7. This is an absolute auction. This sale will not be left open for any raises. There is an 8% buyer premium. Your actual bid plus the 8% buyer premium, if confirmed by the Court, will be the final purchase price. 8. The real estate and improvements are selling in "As Is - Where Is" condition. No testing of any kind has been conducted on any structure or utility. If you are not willing to accept this property in "As Is" condition, please do not bid. 9. Any items remaining on the property after the auction will be considered abandoned and will be the new owner's property. The Court nor its agents will be responsible for the removal of any items. 10. The Court requires a 10% down payment within 24 hours of the sale, with the Buyer signing a contract for the balance, which is due at the time of closing. 11. In the event the sale of the real property does not close because of issues with the Buyer, the 10% deposit will be forfeited by the Buyer and retained by the Court. In the event the property does not close for any other reason, the 10% deposit will be refunded to the Buyer. 12. There has been a certificate of title examination done for the Court. Buyer will be required to purchase title insurance through Lee & Lee Attorneys, based upon the sale price. 13. The 2024 Wilson County real property taxes will be prorated between the Seller and Buyer. 14. The real estate is being sold subject to the following instruments of record in the Register's Office for Hickman County, Tennessee: a. any and all existing right-of-way easements, utility easements and ingress and egress easements recorded and unrecorded; 15. Bidding and/or Purchasing constitutes acceptance of the above terms and conditions.