top of page

Powell Land
Auction Terms

 

TERMS OF REAL ESTATE SALE 

Powell Land Auction  

November 9th, 2024 10:00am 

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

404 Milan Hwy, Trenton, TN 38382 

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: 

  • Possession once 2024 crop is removed. 

  • Taxes: 

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

  • Buyers will be responsible for 2024 rollback taxes.  

  • Closing: 

  • Closing to be held on or before Monday, December 9th 2024.  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 the right of way of Milan Highway in Trenton, Gibson County, Tennessee 

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

  • Rollback taxes as provided under Section 67-5-1008, Code of Tennessee, as amended.  

  • Tract III: Subject to the right-of-way of the North Fork Forked Deer River Canal.  

  • Tract III: Rights, if any, of the Property owners abutting said North Fork Forked Deer River Canal in and to the waters of the North Fork Forked Deer River Canal and in and to the bed thereof.  

  • Tract III: Any enlargement or loss of Land by reason of accretions, relictions, or avulsions. 

  • Tract III: Consequences of change in location of waters of North Fork Forked Deer River Canal as such change may affect the North Fork Forked Deer River Canal boundary of subject Land. 

  • The Gibson County Assessor's office taxes the property for 125 acres, more or less; however, the deed to the property only contains 115.51 acres.   

  • Requirements: Pay the following 2024 County of Gibson property taxes, a lien which became due on October 1st, 2024 in the amount of $665.00. 

  • The survey is to & selling to the Deeded Boundary and is subject to all Rights-of-Way, Easements, and Restrictions of Record. 

  • Survey was completed by Dodd Surveying on 10-30-2024. 

  • Property is currently in Greenbelt. 

  • Portions of Tracts 2 & Tracts 3 lie in a FEMA flood zone “A” as per current FEMA flood insurance rate map.  

  • Access to Tract #3 is by way of a 50.00 ft wide ingress/egress easement with the north line of said easement.  

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. 

bottom of page