Real Estate Auction
New Midway Road
Kingston, TNOnline Bidding Only
Tuesday, February 28th at 12:00PM
+Acres of Watts Bar Lakefront Land sold as one tract
Monday, February 20th from 12:00-5:00PM
Over 144 acres of excellent property to develop as a retreat or private lake estate located in Kingston, TN (Roane County - Parcel:Several home-site locations on this gorgeous property, with over 6600 ft of boundary joining Watts Bar Lake & TVA shoreline. Trails and roads meandering throughout the property with pond on property. Gorgeous views of the mountains and Watts Bar Lake. Property is accessed via a deeded ROW. Total Tax Appraisal of $1,866,400 with property taxes of $684.31. Property is currently under the Greenbelt status and the buyer will have 90 days to reapply for the Greenbelt. If the buyer does not reapply, then they will be responsible for paying the rollback taxes.
TERMS: The successful high bidder on this property will be required to sign the Real Estate Sales Contract, Terms & Conditions, and any other documents needed immediately upon conclusion of the bidding and will make an earnest money deposit of ten percent (10%) of the sales price. A ten percent (10%) buyer’s premium will be added to the high bid to establish the total sales contract price. US currency cash or approved check. The balance is to be paid in full at deed closing within 30 days. TITLE ONE, INC to Conduct the Closing. Current taxes will be prorated at the the date of closing. Seller to provide deed. Buyer is responsible for title opinion, title insurance and recording fees. Customary closing costs to be split between the buyer and seller. Buyer is to obtain their own financing. The contract will not be contingent upon financing, inspections or any other contingencies. Powell Auction & Realty, LLC and its auctioneers and employees are representing the sellers as the sellers’ Agents. All properties are sold “AS-IS, WHERE-IS and WITH ALL FAULTS,” without any warranties expressed, implied or guarantees of any kind. Agent represents the seller only and does not inspect properties on bidder’s behalf. All measurements, square footage and age are approximate and not guaranteed. Seller and/or Agent makes no warranty as to the accuracy of information. All information is deemed reliable, but not guaranteed. Buyer to verify ALL information to their satisfaction prior to bidding. NOTE: Buyer will have 90 days to reapply for green belt status. If the buyer does not reapply, then they will be responsible for paying the rollback taxes. New survey is being completed and will be charged to buyer at closing in the amount of $10,000.00.
ONLINE REAL ESTATE TERMS: Thank you for participating in a Powell Auction & Realty, LLC Online Auction. It is important that you familiarize yourself with the Terms and Conditions of the Sale. If you do not agree with any of the terms and conditions stated, PLEASE DO NOT BID or you will be bound by those Terms and Conditions. Good luck and good bidding. Auctioneer/Employees without notice may withdraw, extend or rearrange any property, and or item at their sole discretion at any time and will not be liable for any computer, internet or website malfunctions. Payment must be made within 24 Hours after being contacted by Powell Auction & Realty, LLC. Powell Auction & Realty, LLC will have up to 7 DAYS to provide the Buyer with any documents to be signed after the auction has ended. All properties are sold “AS IS, WHERE IS and WITH ALL FAULTS” with no financing, inspection or other contingencies to sale. Auctioneer represents the seller only and does not inspect properties on Bidder’s behalf.