by agreeing to these terms, you are acknowledging you have read and understand ALL terms listed below...

* online only auction for real estate & personal property

* preview is Sun July 10 from 2p-3p or by appointment. Call 865-607-6698 to schedule

* 10% buyers premium on real estate.......15% buyers premium on personal property

* you will be required to leave $20,000 earnest money for the real estate day of auction should you be the winning buyer with the balance due at closing on or before August 15, 2022

*credit card on file will be charged for personal property full invoice amount upon completion of auction. Under Tennessee tax laws and regulations, there is currently no exemption for any purchase unless you have a valid tax exemption/resell certificate.

*removal FRI JULY 15 9am-6pm and SAT JULY 16 from 9am-12noon in Dandridge

*shipping available for $15 per lot + SHIPPING CHARGES. We will combine shipping as much as possible.

*any personal property items not removed will be deemed abandoned and will be discarded

THE FOLLOWING TERMS ARE ASSOCIATED TO THE REAL ESTATE

All Bidders registering for this auction will have to be approved by EK Auctioneers, LLC (hereinafter referred to as Auction Company or EK Auctioneers) before any bids can be placed to prevent an unqualified Bidder from placing bids (example: an underage person or a person with a fraudulent bidding account). If Bidder is known to Auction Company they will be approved quickly after registration. If Bidder isn’t known to Auction Company, a phone call with Auction Company staff or possibly a refundable deposit may be required before placing online bids. Auction Company prefers any unknown Bidders to view the property in person before placing any bids.

YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, and are capable of paying at closing.

Earnest money deposit & contract signing: The winning Bidder will be required to sign purchase agreement contract at end of auction and is required to pay a non refundable deposit of $20,000.00. Deposit must be in the form of cash, wire transfer/ACH, or cashier check. Personal and business check accepted if you are known by auction company. Balance must be paid at closing, within 30 days of the close of bidding.

This property will be sold in “AS IS, WHERE IS” condition without any representation or warranty of any kind, whether express or implied. The Purchaser shall have satisfied themselves as to the location and condition of the property, and all descriptions thereof, before bidding. All information contained in the brochure and all promotional materials, including, but not limited to, square footages, acreage, dimensions, maps, taxes, etc., was derived from courthouse and other records and are believed to be correct; however, neither the Seller nor the Auction Company makes any guarantee or warranty as to the accuracy or completeness of such information. Seller disclosed the sinks and washing machine do not drain into septic tank, as required by Jefferson County code. Sinks and washing machine draining comes to surface on property. This must be changed to meet Jefferson County code and will be the purchaser's responsibility. Septic tank is under one of the additions of the house but has access to it. This was disclosed by the seller to the auction company.

This property sells without contingencies. Any inspections or financing needed by the Purchaser must be made or arranged before the close of bidding at the Purchaser’s expense. The sale of this property will not be subject to contingencies for inspections, financing or appraisals needed by the Purchaser.

EK Auctioneers,LLC and its auctioneers and agents are representing the sellers as the sellers' agents only.

Lead- Based Paint: Buyers are put on notice that the home was built prior to 1978 and may contain lead based paint. It is the buyers responsibility to test for lead based paint. Lead based paint inspections are available up to 10days before the auction and must be done by appointment.

Buyer’s premium: There will be a ten percent (10%) Buyer’s Premium added to the winning bid price to arrive at the total contract sale price to be paid by the Purchaser. Example: If you bid $100,000.00, the total sale price at closing will be $110,000.00 plus applicable closing costs.

The Auction Company reserves the right to cancel, suspend, extend or reschedule an auction event or to make changes to the auction in the event of any unforeseen technical, legal problems or act of GOD

Possession & closing: Purchaser will receive possession at closing. The sale shall be closed on or before August 15, 2022 (or sooner if possible) of the close of bidding in the amount of the purchase price, and shall execute a Warranty Deed with a insurable and marketable title conveying the real estate to the Purchaser. Closing will take place At Tennessee Lan Title 1620 Newport Hwy, Sevierville,TN 37876

Purchaser: shall pay for its escrow and closing fees, any and all recording fees, and all other sale, financing or closing fees as required. Taxes, assessments and association fees, if any, shall be prorated to the date of closing.

Miscellaneous: All decisions of the Auction Company 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. Auction Company reserves the right to deny any person the right to participate in the auction for any reason, or to ban anyone from the auction who attempts to disrupt it. Auction Company has the right to bid on behalf of the seller. All auctions are sold with buyer confirmation unless stated.

AGENCY: EK Auctioneers,LLC Edward Knight - Broker, and its representatives are exclusive agents of the Seller and are agents of no other party to this transaction.

Age requirement: All bidders must be 18 years of age or older.

Server & software technical issues: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, EK Auctioneers, LLC reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor EK Auctioneers, LLC shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Email notifications will be sent to registered bidders with updated information as deemed necessary by EK Auctioneers LLC.

Lohman Estate