TERMS OF REAL ESTATE SALE 

Locke House and Land Auction 

November 9th, 2024, 1:00pm 

We are here today selling Locke & House Land Auction, which each parcel will be sold in its entirety as is where is. 

228 Trenton Hwy, Milan, TN 38358 

We have a binder with information regarding the real estate (aerial map, copy of contract, etc.).  If you are interested in reviewing, ask any of the Top Tier staff to see the binder. In the maps provided, the lines shall not be considered a survey line. 

​

TERMS 

• All announcements day of sale will take precedence over all advertisements. 

• There is no Buyer’s Premium for today’s sale. 

• After the conclusion of this auction, the successful bidder will be required to sign a contract.  

• 10% of purchase price is due and payable today to Wendell Alexander Realty Escrow by certified funds, money order, or personal check accompanied by bank letter. 

• If you bid today and are the successful bidder, you will be expected to pay the earnest money and close by the closing date. If you do not close, you will lose your earnest money. 

• Top Tier Auctions, LLC and Wendell Alexander Realty are acting as the agents for the seller.  Any buyer will be unrepresented unless they have an agent representing them today.  

• Top Tier Auctions, LLC and Wendell Alexander Realty’s agents or employees reserve the right to bid and purchase the property.  

• There is no financing contingency for this sale. The successful bidder will be expected to close whether or not they can obtain financing. 

 

Possession: 

• Owner will take possession at closing. 

 

Taxes: 

• 2024 taxes will be prorated to the day of closing. 

 

Closing: 

• Closing to be held on or before Monday, December 9th 2024.  The purchaser is responsible for all closing costs determined up to this point and through closing. 

 

Title Search: 

• Dyer Land Title has conducted the title search. In the event any remedies need to be made, they will be made before closing. 

 

Survey and Property Info:  

• Property to be sold subject to any and all recorded easements for city, county and state as well as any building, use or zoning laws and restrictions.  

• Subject to right of way of Highway 104 (77) A/K/A Trenton Highway in Milan, Gibson County, Tennessee.  

• Subject to any loss or damage due to inadequate or vague legal description.  

• Subject to a Transmission Line Easement to the United States of America recorded June 15th, 1954, in Deed Book 119, Page 151 in the Register’s Office for Gibson County, Tennessee.  

• Subject to the rights of others in and to the use of any drains, and/or ditches located over, across, in or under the insure premises, and rights to enter upon said premises to maintain the same.  

• Pay the following: 2024 County of Gibson property taxes, a lien which are now due, in the amount of $974.00.  

• Termite inspection was completed on 10/28/2024. No visible termites at the time of inspection, but inaccessible areas due to duct work and wasp nests blocking entrances.  

• No survey the property is selling by deed.

​

PROPERTY CONDITION: 

These properties are being sold “as is where is” with no warranties or guarantees expressed or implied by Top Tier Auctions LLC, Wendell Alexander Realty, representatives of the estate, and/or any of its associates.  We do not know the condition of the tracts and have completed no termite letters, well tests, electrical inspections, septic letter, etc. If you have any questions or concerns, please ask before bidding.  Purchaser(s) understand they had the right to any and all inspections prior to bidding but specifically understand the due diligence period has expired. 

 

Every purchaser of any interest in residential real property on which a residential dwelling was built prior to 1978 is notified that such property may present exposure to lead from lead-based paint that may place young children at risk of developing lead poisoning.  Lead poisoning in young children may produce permanent neurological damage, including learning disabilities, reduced intelligence quotient, behavioral problems, and impaired memory.  Lead poisoning also poses a particular risk to pregnant women.  The seller of any interest in residential real property is required to provide the buyer with any information on lead-based paint hazards from risk assessments or inspections in the seller’s possession and notify the buyer of any known lead-based paint hazards.  A risk assessment or inspection for possible lead-based paint hazards is recommended prior to purchase.