REAL ESTATE AUCTION
GENERAL AUCTION TERMS AND CONDITIONS
ON LINE LAND AUCTION
BRIAN M. GLASS, TRUSTEE
Bankruptcy Case no. 25-10712
493 Hudson Springs Road, Dresden, TN 38225- 16.5 ACRES
TRAVIS ROAD-2 TRACTS-.64 ACRES-2.77 ACRES-
Extend All Dynamic Bidding Auction
BIDDING ENDS THURSDAY – MAY 7TH, 2026 @ 6 P.M.
BIDDERS MUST REGISTER WITH ALEXANDER AUCTIONS & REAL ESTATE SALES
AT WEBSITE (www.alexanderauctions.com)
BIDDERS SHOULD REVIEW ALL ONLINE TERMS PRIOR TO BIDDING!
- THE PROPERTY LISTED AND DESCRIBED ON THE ATTACHED LIST WILL BE OFFERED UNDER THE FOLLOWING TERMS AND CONDITIONS OF SALE, WHICH TERMS AND CONDITIONS OF SALE AND DESCRIPTIONS OF ITEMS LISTED ON THE ATTACHED, MAY BE AMENDED, UPDATED OR ALTERED AT ANY TIME AND DURING THE SALE BY THE AUCTION COMPANY.
- THESE TERMS AND CONDITIONS OF SALE AND ANY ANNOUNCEMENTS FROM THE AUCTION COMPANY SHALL BE BINDING ON ANY BIDDER, WHETHER PRESENT, REPRESENTED BY AN AGENT OR ABSENTEE BIDDER. BUYERS ARE BOUND BY THESE TERMS AND CONDITIONS OF SALE.
- tTERMS OF SALE: ALL PROPERTY IS SOLD “AS-IS’ AND ‘WHERE-IS’ AND NEITHER ALEXANDER AUCTIONS & REAL ESTATE SALES NOR THE SELLER MAKES ANY EXPRESS OR IMPLIED WARRANTY OR REPRESENTATION OF ANY KIND OR NATURE WITH RESPECT TO THE PROPERTY BEING SOLD. IN NO EVENT SHALL ALEXANDER AUCTIONS & REAL ESTATE SALES OR THE SELLER BE RESPONSIBLE FOR THE CORRECTNESS OF OR BE DEEMED TO HAVE MADE ANY REPRESENTATION OR WARRANTY OF MERCHANTABILITY, FITNESS FOR PURPOSE, DESCRIPTION, SIZE, GENUINENESS, YEAR OF MANUFACTURE, ATTRIBUTION, PROVENANCE OR CONDITION CONCERNING THE PROPERTY OR ANY WARRANTY THAT ANY ITEM COMPLIES WITH ANY APPLICABLE FEDERAL OR STATE LAWS. NO STATEMENT SET FORTH IN THE ATTACHED LIST OR MADE AT THE SALE OR IN THE BILL OF SALE OR INVOICE OR ELSEWHERE, WHETHER ORAL OR WRITTEN, SHALL BE DEEMED SUCH A WARRANTY OR REPRESENTATION OR AN ASSUMPTION OF LIABILITY. ALEXANDER AUCTIONS & REAL ESTATE SALES MAKES NO REPRESENTATION OR WARRANTY AS TO THE ACCURACY OF THE DESCRIPTIONS OR REPRESENTATIONS WHICH WERE PROVIDED BY THE SELLER AND ARE LISTED ON THE ATTACHED OR AS TO THE CONDITION OF THE ITEM
- ALEXANDER AUCTIONS & REAL ESTATE SALES HAS BEEN COMMISSIONED BY BRIAN M. GLASS, CHAPTER 7 TRUSTEE – BANKRUPTCY CASE NO. 25-10712 TO SELL THIS PROPERTY AT PUBLIC AUCTION.
- PROPERTY SELLS SUBJECT TO THE APPROVAL OF THE BANKRUPTCY COURT.
- REAL ESTATE CONSISTS OF 19.91 ACRES IN WEAKLEY COUNTY, TENNESSEE
- PROPERTY IS OFFERED IN 2 TRACTS. NO COMBINATIONS OF TRACTS WILL BE OFFERED. PROPERTY SELLS UNDER “EXTEND ALL” BIDDING RULES. ALL TRACTS WILL CLOSE AT THE SAME TIME.
- DEED REFERENCES: TRACT 1 DEED BOOK 454, PAGE 1390; IN ROWCT;.
- 2025 PROPERTY TAXES: TRACT 1 – MAP 120, PARCEL 047.00 AOWCT - $
- DEED REFERENCE: TRACT 2- 0.64 ACRE DEED BOOK 467, PAGE 926 MAP 120, PARCEL 48.02- IN ROWCT;
- 2.77 ACRES DEED REFERENCE: DEED BOOK 463, PAGE 452; ROWCT MAP 120, PARCEL 48.04; IN AOWCT
- DRIVEWAY DEED REFERENCE: DEED BOOK 463, PAGE 452; ROWCT MAP 120, PARCEL 48.05; IN AOWCT
- 2026 TAXES: BUYER TO ASSUME ALL 2026 TAXES.
- THE SELLER’S DEED DESCRIPTIONS WILL BE USED TO TRANSFER THE REAL ESTATE. NO NEW SURVEY WILL BE PROVIDED.
- TRACT 1 & TRACT 2 DO NOT HAVE WATER WELLS ON THE PROPERTY. NO WELLS WILL BE INSTALLED
- SELLER HAS NO KNOWLEDGE ABOUT THE LOCATION, CONDITION, OR EXISTENCE OF THE SEPTIC SYSTEM ON TRACT 1
- SELLER HAS NOT REQUESTED, & WILL NOT REQUEST ANY SOIL TESTS TO BE PERFORMED FOR TRACT 1 OR TRACT 2
- TRACT 2- THE PONDS LOCATED ON TRACT 2 WERE FORMER HOG HOUSE LAGOONS
- TRACT 1 – DOUBLE WIDE RESIDENCE & 16.5 ACRES – 493 HUDSON SPRINGS ROAD, DRESDEN, TN 38225.-
- TRACT 2 – 3.41 ACRES – TRAVIS CHAPEL ROAD, DRESDEN, TN 38225.
- CONDITIONS OF SALE: PROPERTY IS BEING OFFERED IN AN ONLINE AUCTION. THIS AUCTION HAS AN EXTEND-ALL FEATURE.
- BIDDER SHOULD REVIEW THESE TERMS AND CONDITIONS, THE SALES & PURCHASE AGREEMENT (CONTRACT), AND OTHER EXHIBITS POSTED ONLINE AND IN ANY DUE DILIGENCE INFORMATION PROVIDED.
- BUYER’S PREMIUM: A 10% BUYER'S PREMIUM WILL BE ADDED TO THE FINAL BID ON EACH TRACT OF REAL ESTATE TO REACH THE TOTAL SALES PRICE AND TOTAL CONTRACT PRICE.
- BIDDERS AND BUYERS MUST AGREE TO THESE AUCTION TERMS & CONDITIONS, THE SPECIAL TERMS FOR TRACT 1, TRACT 2, AND ANY EXHIBITS INCLUDED WITH THE TERMS ONLINE BEFORE BIDDING. YOUR ACCEPTANCE OF THE TERMS AND CONDITIONS AND EXHIBITS ARE ACCEPTED AND APPROVED BY YOU REGISTERING FOR A BIDDER NUMBER.
- PURCHASE AGREEMENT: AFTER THE CLOSE OF THE AUCTION, THE SUCCESSFUL BIDDER WILL BE EMAILED A SALES AND PURCHASE AGREEMENT/CONTRACT TO BE SIGNED AND RETURNED TO ALEXANDER AUCTIONS & REAL ESTATE SALES WITHIN 24 HOURS OF COMPLETION OF THE AUCTION, ALONG WITH THE REQUIRED EARNEST MONEY DEPOSIT.
- EARNEST MONEY: THE SUCCESSFUL BIDDER IS REQUIRED TO MAKE AN EARNEST MONEY DEPOSIT OF 15% OF THE TOTAL SALES PRICE AND CONTRACT PRICE ON ANY TRACT OF REAL ESTATE, WITHIN 24 HOURS AFTER THE AUCTION CLOSES, WHEN THE PURCHASE AGREEMENT IS SIGNED. EARNEST MONEY IS NON-REFUNDABLE.
- EARNEST MONEY PAYMENT: EARNEST MONEY PAYABLE BY CASH, WIRE TRANSFER, CASHIER’S CHECK OR PERSONAL CHECK WITH CURRENT BANK LETTER OF GUARANTY MADE TO ALEXANDER AUCTIONS & REAL ESTATE SALES. SEE SAMPLE COPY OF BANK LETTER OF GUARANTY AT WEBSITE ONLINE. NO CREDIT CARD PAYMENTS AND NO LETTERS OF INTENT ACCEPTED FOR PAYMENT.
- CASH OFFER: BUYER(S) MUST BE PREPARED TO MAKE A CASH OFFER. THERE ARE NO CONTINGENCIES TO THIS SALE (I.E., FINANCING, APPRAISAL, IMPROVEMENTS, REPAIRS, OR INSPECTIONS). THEREFORE, YOU SHOULD BE PRE-QUALIFIED BY A LENDER PRIOR TO BIDDING IF YOU REQUIRE FINANCING. THIS PROPERTY IS BEING SOLD FOR CASH “AS-IS, WHERE-IS” WITH A CLOSING DEADLINE.
- CLOSING DATE: BALANCE OF THE PURCHASE PRICE SHALL BE DUE ON OR BEFORE JUNE 15TH, 2026 BY 4 P.M.
- FAILURE TO CLOSE AND PAY THE BALANCE DUE AT CLOSING WILL REQUIRE BUYER TO FORFEIT THE EARNEST MONEY, BUYER IS SUBJECT TO THE ALL THESE TERMS AND CONDITIONS AND ANY OTHER TERMS INCLUDED IN THE PURCHASE AGREEMENT.
- COMPLIANCE WITH THE TERMS OF SALE: SUCCESSFUL BIDDERS AND OR BUYERS NOT EXECUTING AND RETURNING THE CONTRACT WITH EARNEST MONEY DEPOSIT WITHIN 48 HOURS OF THE CONCLUSION OF THE AUCTION WILL BE CONSIDERED IN DEFAULT. IN THE EVENT A WINNING BIDDER AND OR BUYER FAILS TO SUBMIT THE SIGNED PURCHASE AGREEMENT (CONTRACT) FOR SALE OF REAL ESTATE AND EARNEST MONEY DEPOSIT, THE WINNING BIDDER AND OR BUYER SHALL PAY TO ALEXANDER AUCTIONS & REAL ESTATE SALES ANY DAMAGES, AN AMOUNT EQUAL TO THE BUYER’S PREMIUM OR COMMISSION PERCENTAGE AS SET FORTH IN SAID CONTRACT, AND ANY AND ALL EXPENSES INCURRED BY THE SAID ALEXANDER AUCTIONS & REAL ESTATE SALES FOR SAID AUCTION. SHOULD BUYER’S EARNEST MONEY CHECK BE RETURNED FOR ANY REASON WHATSOEVER, THIS SHALL CONSTITUTE AN ITEM OF DEFAULT, AND IN ADDITION TO THE REMEDIES PREVIOUSLY STATED HEREINABOVE, BUYER SHALL ALSO PAY AN ADDITIONAL PENALTY OF FIVE PERCENT (5%) OF THE EARNEST MONEY CHECK TO ALEXANDER AUCTIONS & REAL ESTATE SALES AND. BUYER SHALL ALSO PAY A REASONABLE ATTORNEY’S FEE AND COSTS INCURRED IN THE COLLECTION OF THESE MONIES OWED BY BUYER AS A RESULT OF BUYER’S DEFAULT. BUYER SHALL ALSO PAY THE SELLER ANY DAMAGES CAUSED BY SAID BREACH OF CONTRACT, INCLUDING ATTORNEY’S FEES AND COSTS. THIS SHALL NOT PRECLUDE THE SELLER FROM SUING FOR SPECIFIC PERFORMANCE OF THE CONTRACT OF SALE, IN ADDITION TO SAID DAMAGES. IT IS SPECIFICALLY UNDERSTOOD AND AGREED BY AND BETWEEN THE SELLER AND ALEXANDER AUCTIONS & REAL ESTATE SALES THAT IN THE EVENT THE BUYER SHOULD DEFAULT IN THE TERMS OF THIS CONTRACT IN ANY MANNER WHATSOEVER, THE EARNEST MONEY, OR SUFFICIENT SUMS THEREFORE, SHALL BE PAID FIRST TO THE AGENT FOR THE BUYER’S PREMIUM OR COMMISSION PERCENTAGE, AND THE BALANCE, IF ANY, TO THE SELLER. ANY DISPUTES WILL BE TRIED IN A COURT OF JURISDICTION IN WEAKLEY COUNTY, TENNESSEE. ALEXANDER AUCTIONS & REAL ESTATE SALES RESERVES THE RIGHT TO SELL TO THE NEXT HIGHEST QUALIFIED BIDDER OR ANY OTHER BIDDER OR BUYER IN THE EVENT THE SUCCESSFUL HIGH BIDDER AND OR BUYER DOES NOT COMPLY WITH THE TERMS OF THE SALE. BY BIDDING ON THE PROPERTY, BUYER AGREES TO ALL TERMS AND CONDITIONS SET FORTH. THE CONTRACT IS REQUIRED TO BE FULLY AND CORRECTLY COMPLETED, WITHOUT ANY MODIFICATIONS AND PROPERLY SIGNED. A CONTRACT THAT IS INCOMPLETE, INCORRECT, OR MODIFIED IN ANY RESPECT, IS CONSIDERED TO BE IN DEFAULT.
- COMMISSION: PURCHASER AGREES TO PAY A 10% BUYERS PREMIUM OF THE BID PRICE UPON CLOSING, WHICH IS EQUAL TO THE AGREED UPON COMMISSION BETWEEN SELLER, AGENT AND PURCHASER. PURCHASER RECOGNIZES AND AGREES THAT THE 10% PREMIUM PAID AS COMMISSION FOR THIS TRANSACTION DOES NOT CONSTITUTE PURCHASER REPRESENTATION.
- GREENBELT ROLL BACK TAXES – BUYER TO ASSUME ANY ROLL BACK TAXES WHICH ARE ASSESSED TO ANY TRACTS CONTAINING 15 ACRES OR MORE AND ANY COMBINATION OF TRACTS TOTALING 15 ACRES OR MORE WHICH ARE ELIGIBLE FOR GREENBELT PROGRAM. SELLER WILL PAY FOR ANY ROLL BACK TAXES WHICH ARE ASSESSED TO ANY TRACT NOT ELIGIBLE FOR THE GREENBELT PROGRAM.
- GREENBELT TAXES: PURCHASER TO PAY ANY ROLL BACK TAXES THAT MAY BECOME DUE ON ANY TRACT OR COMBINATION OF TRACTS ELIGIBLE FOR GREENBELT BECAUSE NEW BUYER ELECTS NOT TO ENROLL THE PROPERTY IN THE GREENBELT PROGRAM.
- CLOSING DELAY: IF YOUR CLOSING IS DELAYED FOR ANY REASON, BY YOU, AS PURCHASER, OR OTHER PARTIES WORKING ON YOUR BEHALF, INCLUDING ANY LENDER YOU INVOLVE, YOU MAY BE DECLARED IN BREACH OF THIS CONTRACT, FORFEIT ALL DEPOSITS MADE AND COULD ADDITIONALLY BE LIABLE FOR ANY AND ALL COST INCURRED, IN A SUBSEQUENT RESALE OF THE PROPERTY, BY SELLER AND ALEXANDER AUCTIONS & REAL ESTATE SALES. IF SUCH ACTION OCCURS, ALEXANDER AUCTIONS & REAL ESTATE SALES HEREBY HAS THE RIGHT TO DISPERSE THE EARNEST MONEY IN THE PURCHASE AGREEMENT AND THE BUYER HAS NO CLAIMS TO SUCH MONEY OR PROPERTY BEING SOLD. LIQUIDATED DAMAGES ARE TO COVER THE AUCTIONEER’S COMMISSION, COST OF AUCTION, COST INCURRED BY SELLER, LABOR COST AND ADDITIONAL COST OF AUCTION AS NOT DEFINED IN THIS AGREEMENT. THESE LIQUIDATED DAMAGES DO NOT RESTRICT THE SELLER FROM SUING THE BUYER FOR PERFORMANCE DAMAGES AND/OR ANY ADDITIONAL DAMAGES THE SELLER SUFFERS BY THE DEFAULT OF THE BUYER.
- IN THE EVENT THE BANKRUPTCY COURT HEARING CANNOT BE SCHEDULED BEFORE THE CLOSING DEADLINE, THE CLOSING DATE SHALL BE AUTOMATICALLY EXTENDED TO 15 DAYS PAST THE COURT APPROVAL IS GRANTED.
- TITLE: DEED TRANSFER BY SPECIAL THE BANKRUPTCY TRUSTEE.
- INSPECTION: PROSPECTIVE PURCHASER(S) SHOULD INSPECT AND REVIEW THE PROPERTY TO BECOME FAMILIAR WITH THE PROPERTY BOUNDARY LINES AND THE PHYSICAL CONDITION OF THE IMPROVEMENTS AND COMPLETE THEIR OWN DUE DILIGENCE RESEARCH. PER AUCTION INSPECTIONS ARE PERMITTED AND ALLOWED.
- AGENCY DISCLOSURE: ALEXANDER AUCTIONS & REAL ESTATE SALES AND ALL AGENTS WORKING AT THIS AUCTION ARE ACTING AS AN AGENT FOR THE SELLERS.
- BIDDING: NO ONE SHOULD MAKE A BID THAT HE/SHE DOES NOT WANT TO HONOR OR IS NOT FINANCIALLY ABLE TO HONOR.
- CONTINGENCIES: NO PURCHASE IS CONTINGENT ON FINANCING, APPRAISALS, PROPERTY INSPECTIONS OR ANY OTHER CONTINGENCIES.
- DUE DILIGENCE: ANY INFORMATION SUPPLIED IN THE TERMS AND CONDITIONS CONCERNING THE PROPERTY INFORMATION AND TAX AMOUNTS ARE SUPPLIED TO ACCOMMODATE THE PURCHASER(S). IT IS THE PURCHASER’S SOLE RESPONSIBILITY TO COMPLETE THEIR OWN DUE DILIGENCE SURVEY, RESEARCH, INSPECTION, CHECKING AND BID ACCORDING TO THEIR DUE DILIGENT SURVEY AND RESEARCH.
- EASEMENTS: PROPERTY SELLS SUBJECT TO UTILITY EASEMENTS, ANY EXISTING EASEMENTS AND SUBJECT TO ANY RECORDED EASEMENTS.
- RESTRICTIONS: REAL ESTATE SELLS SUBJECT TO ANY AND ALL EXISTING MATTER OF RECORDS, EASEMENTS, CITY, COUNTY AND STATE, BUILDING, USE OR ZONING LAWS AND RESTRICTIONS.
- ENVIRONMENTAL ASSESSMENTS: SELLERS HAVE NOT REQUESTED NOR HAD ANY ENVIRONMENTAL ASSESSMENTS RUN ON THIS PROPERTY.
- ENVIRONMENTAL DISCLOSURE: AUCTIONEER AND BROKER AND SELLERS ARE NOT EXPERT IN DETERMINING ENVIRONMENTAL HAZARDS AND HAZARDOUS MATERIAL. BUYERS ACCEPT THESE IMPROVEMENTS AND LAND IN ITS PRESENT CONDITION. BUYER AGREES TO HOLD HARMLESS ALEXANDER AUCTIONS & REAL ESTATE SALES, THE BROKER, AUCTIONEER AND THE SELLERS FROM ANY ENVIRONMENTAL HAZARDS AND FROM ANY CLAIMS IN CONNECTION WITH ENVIRONMENTAL HAZARDS.
- SOIL EVALUATION: THE OWNERS, SELLERS AND SALES MANAGEMENT HAVE NOT HAD OR REQUESTED ANY PERK TEST OR SOIL CLASSIFICATION INSPECTIONS TO BE COMPLETED BY THE GROUND WATER PROTECTION AGENCY OR ANY SOIL SCIENTIST TO DETERMINE THE APPROVAL OR REQUIREMENTS FOR SEPTIC TANKS OR SEPTIC LINES FOR ANY OF THE TRACTS.
- GROUND WATER PROTECTION AUTHORITY: PURCHASER(S) SHALL BE RESPONSIBLE FOR CONTACTING THE TENNESSEE/WEAKLEY COUNTY GROUND WATER PROTECTION AGENCY AND/OR AN APPROVED TENNESSEE SOIL SCIENTIST TO OBTAIN A SOIL ANALYSIS AND APPROVAL FOR A SEPTIC SYSTEM IF THEY DO HOOK TO SEWER. ALEXANDER AUCTIONS & REAL ESTATE SALES MAKES NO WARRANTY OR GUARANTY AS TO SOIL TYPES AND SOIL APPROVAL FOR A SEPTIC/SEWAGE SYSTEM.
- INSPECTION OPPORTUNITY: PURCHASER AND PURCHASER’S REPRESENTATIVES HAVE HAD THE OPPORTUNITY TO INSPECT THIS PROPERTY AND AGREE ALL BIDS ARE MADE SUBJECT TO THEIR INSPECTIONS AND DUE DILIGENCE RESULTS AND PURCHASE SAID PROPERTY AS A RESULT OF THEIR INSPECTION.
- WARRANTIES OR REPRESENTATION: ALEXANDER AUCTIONS & REAL ESTATE SALES AND SELLER HAS NOT MADE, DOES NOT MAKE, AND EXPRESSLY DISCLAIMS, ANY WARRANTIES, REPRESENTATIONS, COVENANTS OR GUARANTEES, EXPRESSED OR IMPLIED OR ARISING OUT BY OPERATION OF LAW, AS TO THE MERCHANTABILITY, HABITABILITY, QUANTITY, QUALITY OR ENVIRONMENTAL CONDITION OF THE PROPERTY OR ITS SUITABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OR PARTICULAR USE.
- AUCTIONEER’S DISCRETION: ALEXANDER AUCTIONS & REAL ESTATE SALES HAS FULL DISCRETION TO MODIFY DATE AND TIME, ORDER AND DETAILS OF THE AUCTION FOR ANY REASON OR NO REASON AT ALL, INCLUDING BUT NOT LIMITED TO TECHNICAL ISSUES INCLUDING BUT NOT LIMITED TO INTERNET DIFFICULTIES, EMERGENCIES AND CONVENIENCE, ALEXANDER AUCTIONS & REAL ESTATE SALES RESERVES THE RIGHT TO MODIFY, CHANGE OR REMOVE USER NAMES AT ANY TIME.
- BIDDING DISCLOSURE: LAND IS SELLING UNDER AN APPROVED ORDER OF THE UNITED STATES BANKRUPTCY COURT WESTERN DISTRICT OF TENNESSEE. THIS PROPERTY IS NOT ADVERTISED AS SELLING ABSOLUTE, THEREFORE ANY BIDDERS APPROVED BY ALEXANDER AUCTIONS & REAL ESTATE SALES ARE ALLOWED TO BID IN THIS AUCTION INCLUDING THE SELLERS, AUCTIONEERS, EMPLOYEES, AND PERSONNEL WORKING IN THE AUCTION.
- ALL BIDS ARE SUBJECT TO ACCEPTANCE BY THE AUCTIONEER. NO BID SHALL BE DEEMED A VALID BIT UNTIL ACCEPTED BY THE AUCTIONEER.
- THE AUCTIONEER HAS THE SOLE DISCRETION TO ADVANCE THE BIDDING AND MAY REJECT ANY AND ALL BIDS WHICH IN THE AUCTIONEER’S DISCRETION, DO NOT ADVANCE AND/OR ARE INJURIOUS TO THE AUCTION INCLUDING BUT NOT LIMITED TO NOMINAL SUSPICIOUS AND/OR SUSPECT ADVANCE.
- TIME EXTENSION: ALEXANDER AUCTIONS & REAL ESTATE SALES HAVE AN AUTO-EXTEND BIDDING FEATURE.
- TIME INCREASE OR DECREASE: ALEXANDER AUCTIONS & REAL ESTATE SALES MAY INCREASE OR DECREASE THE EXTENDED BIDDING TIME AMOUNT AT ANY TIME DURING THE AUCTION UNTIL THE CLOSE OF BIDDING.
- ALEXANDER AUCTIONS & REAL ESTATE SALES USES TWO TYPES OF EXTENDED BIDDING PLATFORMS.
- PLATFORM TYPE 1 - EXTENDED BIDDING FEATURE: ALEXANDER AUCTIONS & REAL ESTATE SALES ARE TIMED EVENTS AND BIDDING WILL CLOSE AT A SPECIFIC TIME. ALEXANDER AUCTIONS & REAL ESTATE SALES HAVE AN AUTO-EXTEND FEATURE. WHEN ANY BID IS PLACED IN THE FINAL FIVE MINUTES OF THE AUCTION ON ANY ITEM, THE AUCTION ENDING TIME WILL BE AUTOMATICALLY EXTENDED FIVE (5) MINUTES FROM THE CLOSING TIME. EXAMPLE: IF AN AUCTION SCHEDULED TO CLOSE AT 12:00 NOON RECEIVES A BID AT 11:56 THE CLOSE TIME WILL AUTOMATICALLY EXTEND TO 12:05. THE AUTO-EXTEND FEATURE REMAINS ACTIVE UNTIL NO FURTHER BIDS ARE RECEIVED WITHIN A FIVE (5) MINUTE TIME FRAME ON THE REAL ESTATE OR A PERSONAL PROPERTY LOT
- PLATFORM TYPE 2 – EXTEND ALL DYNAMIC BIDDING: ALL 4 TRACTS OF REAL ESTATE ARE ENTERED IN THE AUCTION IN ONE GROUP. EACH TIME A BID IS PLACED ON A TRACT IN A GROUP IN THE FINAL FIVE (5) MINUTES, BIDDING TIME FOR ALL LOTS IN THE GROUP WILL EXTEND 5 MINUTES. ALL LOTS WILL REMAIN OPEN FOR BIDDING UNTIL NO BIDS ARE PLACED IN THE LAST 5 MINUTES. ALL TRACTS IN THE GROUP WILL CLOSE AT THE SAME TIME.
- BID CLOSING: IN AN EXTEND ALL DYNAMIC BIDDING AUCTION, ALL TRACTS WILL CLOSE AT THE SAME TIME.
- REFRESH BIDDING: REFRESH YOUR SCREEN CONSTANTLY DURING THE CLOSING MINUTES OF THE BIDDING OR ENABLE THE “AUTO-REFRESH” FEATURE.
- SERVER & SOFTWARE TECHNICAL ISSUES: IN THE EVENT THERE ARE TECHNICAL DIFFICULTIES RELATED TO THE SERVER, SOFTWARE OR ANY OTHER ONLINE AUCTION RELATED TECHNOLOGY, ALEXANDER AUCTIONS & REAL ESTATE SALES RESERVES THE RIGHT TO EXTEND BIDDING, CONTINUE THE BIDDING, CLOSE THE BIDDING OR INCREASE OR DECREASE THE EXTENDED AMOUNT OF TIME AT THE END OF THE AUCTION. NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR ALEXANDER AUCTIONS & REAL ESTATE SALES WILL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON.
- BIDDING INCREMENTS: ALEXANDER AUCTIONS & REAL ESTATE SALES MAY HAVE DIFFERENT BIDDING INCREMENTS. THE BIDDING SOFTWARE WILL CALCULATE THE NEXT BID AMOUNT BEFORE YOU SUBMIT THE BID. ALEXANDER AUCTIONS & REAL ESTATE SALES RETAINS THE RIGHT TO CHANGE BIDDING INCREMENTS AT ANY TIME.
- IF THE BIDDING INCREMENTS ARE NOT MET ON TRACTS, YOUR BID WILL NOT BE ACCEPTED.
- AGENCY: ALEXANDER AUCTIONS & REAL ESTATE SALES AGENTS AND REPRESENTATIVES ARE AGENTS FOR THE SELLERS. BUYER AND OR BIDDER AGREES TO HOLD HARMLESS AND INDEMNIFY ALEXANDER AUCTIONS & REAL ESTATE SALES AND ITS REPRESENTATIVES FROM ANY AND ALL CLAIMS, DAMAGES OR SUITS INCLUDING BUT NOT LIMITED TO AWARDS, JUDGMENTS, COSTS, FEES, ETC.
- AUCTIONEER: THE AUCTIONEER, WHEN ACTING AS A AGENT, IS NOT RESPONSIBLE FOR ACTS OF ITS PRINCIPALS.
- BACK-UP BIDS: IF YOU ARE NOT THE SUCCESSFUL BIDDER ON THE REAL ESTATE OR A PERSONAL PROPERTY LOT AND WISH TO MAKE A BACK-UP BID IN CASE OF DEFAULT BY THE HIGH BIDDER, PLEASE CONTACT ALEXANDER AUCTIONS & REAL ESTATE SALES TO RECEIVE A BACK-UP BIDDER FORM. EMAIL NOTIFICATION MAY BE SENT TO REGISTERED BIDDERS WITH UPDATED INFORMATION AS DEEMED NECESSARY BY THE AUCTION COMPANY.
- OFF-SITE BIDDING: BIDDERS WHO BID OFF-SITE AND DO NOT MAKE AN INSPECTION UNDERSTAND AND ACKNOWLEDGE THAT THEY MAY NOT BE ABLE TO INSPECT THE PROPERTY AS WELL AS IF THEY EXAMINED IT IN PERSON. IT IS THE BIDDER’S RESPONSIBILITY TO DETERMINE CONDITION, AGE, GENUINENESS, VALUE OR ANY OTHER DETERMINATIVE FACTOR.
- BIDDING APPROVAL: ALEXANDER AUCTIONS & REAL ESTATE SALES RESERVES THE RIGHT TO REMOVE OR CANCEL THE BIDS AND OR BIDDING RIGHTS AND PRIVILEGES OF ANY PARTY AT ANY TIME DEEMED NOT TO BE IN THE BEST INTEREST OF THE SELLER. THE IDENTITY OF ALL BIDDERS WILL BE VERIFIED, BIDDING RIGHTS ARE PROVISIONAL AND IF COMPLETE VERIFICATION IS NOT POSSIBLE, ALEXANDER AUCTIONS & REAL ESTATE SALES WILL REJECT THE REGISTRATION, AND BIDDING ACTIVITY WILL BE TERMINATED.
- AUCTION CANCELLATION – BID REJECTION: ALEXANDER AUCTIONS & REAL ESTATE SALES RESERVES THE RIGHT TO REJECT ANY AND ALL BIDS FOR ANY REASON. ALEXANDER AUCTIONS & REAL ESTATE SALES RESERVES THE RIGHT TO CANCEL THIS AUCTION, OR REMOVE ANY ITEM OR LOT FROM THIS AUCTION PRIOR TO THE CLOSE OF BIDDING EVEN IF A BID HAS BEEN PLACED, IN THE EVENT OF AN INTERNET FAILURE OR IF THE BIDDING PLATFORM FAILS OR CRASHES.
- ACCEPTANCE OF BID PRICES: THE AUCTIONEER SHALL MAKE THE SOLE AND FINAL DECISION AS TO THE WINNING HIGH BID AMOUNT. ACCEPTANCE BY THE ONLINE BIDDING PLATFORM DOES NOT NECESSARILY CONSTITUTE AN ACCEPTED BID BY THE AUCTIONEER. SUCCESSFUL BIDDER AND OR BUYER(S) WILL BE REQUIRED TO ENTER INTO A PURCHASE AGREEMENT CONTRACT IMMEDIATELY FOLLOWING THE CLOSE OF THE AUCTION. ALEXANDER AUCTIONS & REAL ESTATE SALES WILL EMAIL DOCUMENTS TO BE EXECUTED AND FAX OR EMAIL BACK TO ALEXANDER AUCTIONS & REAL ESTATE SALES WITHIN 24 HOURS OF THE END OF THE AUCTION. SUCCESSFUL BIDDER AND OR BUYER(S) NOT EXECUTING AND RETURNING CONTRACTS WITH EARNEST MONEY DEPOSIT WITHIN 24 HOURS WILL BE CONSIDERED IN DEFAULT. ALEXANDER AUCTIONS & REAL ESTATE SALES RESERVES THE RIGHT TO SELL TO THE NEXT HIGHEST QUALIFIED BIDDER OR ANOTHER BIDDER AND OR BUYER IF THE WINNING BIDDER AND OR BUYER IS IN DEFAULT OF THESE TERMS. WINNING BIDDER AND OR BUYER MUST EXECUTE THE CONTRACT WITH NO CHANGES, MODIFICATION, ADDITIONS OR DELETION.
- ALEXANDER AUCTIONS & REAL ESTATE SALES INVOLVEMENT IN THIS CONTRACT: BOTH THE SELLERS AND BUYER HEREBY AGREE THAT ALEXANDER AUCTIONS & REAL ESTATE SALES ARE THE PROCURING CAUSE OF THE SALE CONTRACT AND SHALL RECEIVE COMPENSATION AS STATED IN THE AGREEMENT HERETO OR AS STATED IN THE LISTING AGREEMENT HEREBY MADE A PART OF.
- NO WARRANTY: PREREQUISITE TO BIDDING IS THAT THE REAL ESTATE IS PURCHASED ABSOLUTELY “AS IS” WITH NO WARRANTY WHATSOEVER AS TO THE CONDITION OF THE SAME.
- CLOSING REQUIREMENTS: PURCHASERS SHOULD CONTACT THEIR ATTORNEY OR TITLE COMPANY TO COMPLETE THEIR TITLE OPINION IMMEDIATELY. CONTRACT DOES NOT PROVIDE FOR AN EXTENSION DUE TO AN ATTORNEY OR TITLE COMPANY FAILING TO COMPLETE TITLE WORK OR YOUR LOAN CLOSING NOT BEING SET UP TO CLOSE ON OR BEFORE MAY 15TH, 2026 BY 4:00 P.M.
- RISK OF LOSS: ANY RISK OF LOSS TO THE PROPERTY SHALL BE BORNE BY SELLER UNTIL DEED HAS BEEN CONVEYED TO THE PURCHASER.
- TERMINOLOGY: AS THE CONTEXT MAY REQUIRE IN THESE TERMS (1) THE SINGULAR SHALL MEAN THE PLURAL AND VICE VERSA; (2) ALL PRONOUNS SHALL MEAN AND INCLUDE THE PERSON, ENTITY, FIRM OR CORPORATION TO WHICH THEY RELATE.
- ADDITIONAL AUCTION INFORMATION: ALL INFORMATION PUBLISHED, ANNOUNCED OR CONTAINED HEREIN WAS DERIVED FROM SOURCES BELIEVED TO BE CORRECT; HOWEVER, IT IS NOT GUARANTEED BY THE SELLER OR THE AUCTIONEER. PERSONAL ON-SITE INSPECTION OF ALL PROPERTY IS RECOMMENDED. THE FAILURE OF ANY BIDDER TO INSPECT, OR TO BE FULLY INFORMED AS TO THE CONDITION OF THE PROPERTY, WILL NOT CONSTITUTE GROUNDS FOR ANY CLAIM OR DEMAND FOR ADJUSTMENT OR WITHDRAWAL OF BID, OFFER OR DEPOSIT MONEY AFTER ITS OPENING TENDER. THIS INCLUDES BUT IS NOT LIMITED TO PUBLIC INFORMATION SUCH AS EASEMENTS, RESTRICTIONS, ZONING, RIGHTS-OF-WAY, OR ANY OTHER INFORMATION THAT CAN BE OBTAINED AS PUBLIC RECORD IN THE APPROPRIATE COUNTY COURTHOUSE CONCERNING SUBJECT PROPERTIES.
- INTERNET BIDDING: INTERNET BIDDERS WHO DESIRE TO MAKE CERTAIN THEIR BID IS ACKNOWLEDGED SHOULD LEAVE THEIR MAXIMUM BID 24 HOURS BEFORE THE AUCTION ENDS. EMAIL NOTIFICATIONS MAY BE SENT TO REGISTERED BIDDERS WITH UPDATED INFORMATION AS DEEMED NECESSARY BY ALEXANDER AUCTIONS & REAL ESTATE SALES.
- IF YOU HAVE ANY PROBLEMS WITH THE WEBSITE, CALL MARKNET CUSTOMER SERVICE AT 1-888-307-6545 AND/OR ALEXANDER AUCTIONS & REAL ESTATE SALES (731-587-4244)
- LIABILITY WAIVER AND RELEASE: BY AGREEING TO THESE TERMS AND BIDDING ON THIS AUCTION, YOU VOLUNTARILY RELEASE, INDEMNIFY, DEFEND AND HOLD ALEXANDER AUCTIONS & REAL ESTATE SALES AND SELLER, AND THEIR RESPECTIVE AGENTS AND EMPLOYEES (EACH A “RELEASED PARTY”) FROM ANY AND ALL LIABILITIES, CLAIMS, LOSSES, CAUSES OF ACTION OR EXPENSE OF ANY KIND, INCLUDING REASONABLE ATTORNEYS’ FEES, RESULTING FROM A RELEASED PARTY’S NEGLIGENT ACT OR OMISSION, ARISING OUT OF MY PARTICIPATION IN AND PRESENCE WHETHER RELATED TO BODILY INJURY, INFECTION DUE TO COVID-19 VIRUS, PROPERTY DAMAGE, OR ANY OTHER FORM OF INJURY OR LOSS IN REGARD TO INSPECTION DAYS AND THROUGH CLOSING.
- AUCTION NOTIFICATION: PROPERTY IS BEING SOLD SUBJECT TO THESE TERMS AND CONDITIONS AND EXHIBITS AND ATTACHMENTS WHICH WILL BE ATTACHED TO THE PURCHASE AND SALE AGREEMENT (CONTRACT) FOR FUTURE REFERENCE.
- PLEASE DO NOT WIRE FUNDS WITHOUT VERBALLY VERIFYING THE WIRING INSTRUCTIONS AND CASH TO CLOSE AMOUNT PRIOR WITH SOMEONE FROM OUR OFFICE. REMEMBER: INQUIRE BEFORE YOU WIRE. WARNING – FRAUDULENT FUNDING INSTRUCTIONS: EMAIL HACKING AND FRAUD IS ON THE RISE TO FRAUDULENTLY MISDIRECT FUNDS. PLEASE CALL OUR OFFICE IMMEDIATELY USING CONTACT INFORMATION FOUND FROM AN INDEPENDENT SOURCE, SUCH AS THE SALES CONTRACT, INVOICE OR INTERNET TO VERIFY ANY FUNDING INSTRUCTIONS RECEIVED. WE ARE NOT RESPONSIBLE FOR ANY WIRES SENT BY YOU TO AN INCORRECT BANK ACCOUNT.
- ACCEPTANCE: ALL BIDDERS AGREE AND ACCEPT THESE TERMS AND CONDITIONS AND AGREE TO BID ACCORDING TO THESE TERMS BY REGISTERING FOR A BID NUMBER.
WE APPRECIATE YOU ATTENDING THIS AUCTION AND WE WILL BE GLAD TO ANSWER ANY QUESTIONS YOU MAY HAVE.
ALEXANDER
Auctions & Real Estate Sales
MARVIN E. ALEXANDER, CAI, Auctioneer – TL9
239 University St., Martin, TN 38237
Office: (731) 587-4244 * Cell: (731) 225-7368
Email: [email protected]
SPECIAL TERMS TRACT 1 & TRACT 2
- TRACT 1 DOES NOT HAVE A WATER WELL OR WATER SUPPLY FOR THE DOUBLE WIDE ON THE PROPERTY OR THE IMPROVEMENTS.
- SELLER HAS NO KNOWLEDGE OF THE LOCATION, CONDITION, EXISTENCE OR NON-EXISTENCE OF THE SEPTIC SYSTEM.
- THE DOUBLE WIDE RESIDENCE, POLE BARN, GRAIN BINS HAVE A LARGE AMOUNT OF MISCELLANEOUS ITEMS LOCATED INSIDE OF THEM, AROUND THEM, & OVER THE PROPERTY. THESE ITEMS INCLUDE HOUSEHOLD, ___ ITEMS, SALVAGE ITEMS, TOOLS, SCRAP, & ETC. NONE OF THE ITEMS WILL SELL WITH THE REAL ESTATE.
- THE CURRENT OWNER HAS THE RIGHT TO SELL OR REMOVE ANY OF THESE ITEMS.
- TRACT 2 HAS SOME PERSONAL EQUIPMENT & ITEMS LOCATED ON THE PROPERTY.
- NO PERSONAL PROPERTY OR SALVAGE ITEMS ARE INCLUDED IN THE AUCTION.
- SELLER WILL NOT PROVIDE ANY CLEAN UP. ANY ITEMS NOT REMOVED BEFORE THE CLOSING WILL BE THE RESPONSIBILITY OF THE BUYERS
- TRACT 2 IS NOT BEING SOLD AS A RESIDENTIAL SITE.
- TRACT 2 DOES NOT HAVE A WELL, NO ELECTRICAL SERVICE, OR SEPTIC SYSTEM.
- PROPERTY IS SOLD “AS IS”: PROPERTY AND IMPROVEMENTS ARE BEING SOLD IN THEIR PRESENT CONDITION “AS IS”. NO IMPROVEMENTS WILL BE MADE. THERE ARE NO WARRANTIES OR GUARANTEES EXPRESSED OR IMPLIED AS TO CONDITION OR FITNESS FOR USE. THE WARRANTIES OF HABITABILITY AND FITNESS FOR A PARTICULAR PURPOSE AND PARTICULAR USE ARE EXPRESSLY EXCLUDED.
EXPLANATION OF WAYS TO BID:
MAX BID: THE MAXIMUM AMOUNT YOU ARE WILLING TO PAY FOR A LOT. WHEN YOU PLACE A MAX BID, THE SYSTEM WILL AUTOMATICALLY BID FOR YOU UP TO THE AMOUNT THAT YOU HAVE ENTERED AS YOUR MAX BID. ANY TIME ANOTHER PERSON PLACES A BID, IT WILL PLACE THE LOWEST INCREMENT TO RAISE YOUR BID TO OUTBID THAT USER WHILE STAYING UNDER YOUR MAX AMOUNT. YOUR BID WILL ONLY INCREASE BY THE MINIMUM INCREMENT, THE BIDDING PLATFORM WILL AUTOMATICALLY RAISE YOUR BID TO YOUR MAXIMUM BID AS OTHERS BID UP THE LOT OVER TIME.
THE BIDDING PLATFORM RECOGNIZES THE FIRST HIGHEST BID MADE. THE BIDDING GETS DOWN TO MINUTES AND EVEN SECONDS OF WHEN BIDS ARE PLACED.
REGULAR BID”: IS THE BID AMOUNT YOU WISH TO BID AT THIS TIME. YOU CAN JUMP THE BID TO ANY PRICE YOU WANT TO IMMEDIATELY.
EXTEND ALL BIDDING AUCTIONS MAY EXTEND THE BIDDING TIME ON ANY LOT THAT GETS A BID WITHIN A CERTAIN AMOUNT OF TIME OF ITS SCHEDULED CLOSING TIME. THE AUCTION WILL REMAIN OPEN FOR ALL LOTS UNTIL NO BIDS ARE PLACED ON ANY LOT IN THE ALLOTTED AMOUNT OF TIME. THE AUCTIONEER WILL DETERMINE THE NUMBER OF MINUTES NECESSARY TO ACTIVATE DYNAMIC BIDDING AHEAD OF TIME.
EXTENDED BIDDING: EACH TIME A BID IS PLACED ON AN ITEM IN THE FINAL FIVE (5) MINUTES OF THE AUCTION, BIDDING TIME FOR THAT ITEM WILL BE AUTOMATICALLY EXTENDED FIVE (5) MINUTES FROM THE TIME THE BID WAS PLACED ON THAT LOT. EXAMPLE: IF AN AUCTION IS SCHEDULED TO END AT 1 P.M. AND AN ITEM RECEIVES A BID AT 12:59 P.M., THE CLOSING TIME OF THAT ITEM AUTOMATICALLY EXTENDS TO 1:05 P.M. THE AUTO-EXTEND FEATURE REMAINS ACTIVE ON THAT LOT UNTIL NO FURTHER BIDS ARE RECEIVED WITHIN A FIVE-MINUTE TIME FRAME ON THAT LOT.
EXTEND ALL DYNAMIC BIDDING: EACH TIME A BID IS PLACED ON A LOT IN A GROUP IN THE FINAL FIVE (5) MINUTES, BIDDING TIME FOR ALL LOTS IN THE GROUP WILL EXTEND 5 MINUTES. ALL LOTS WILL REMAIN OPEN FOR BIDDING UNTIL NO BIDS ARE PLACED IN THE LAST 5 MINUTES. ALL LOTS IN A GROUP WILL CLOSE SIMULTANEOUSLY AT THE SAME TIME.