631 Leeville Pike Lebanon TN

Real Estate Terms: AUCTION TERMS & CONDITIONS: Multi Parcel Auction Including the following properties selling in numbered order:
1. 631 Leeville Pike Lebanon, TN deed book 1694 page 1617 Reg. Office of Wilson Co. TN
2. 455 Thomas Rd. Lebanon, TN deed book 1698 page 298 Reg. Office of Wilson Co. TN
3. 613 C.L. Manier Lebanon, TN deed book 1640 page 2268 Reg. Office of Wilson Co. TN
4. 7740 Carthage Hwy Lebanon, TN deed book 1640 page 2265 Reg. Office of Wilson Co. TN
5. 150 Old Hunter’s Point Pike Lebanon, TN deed book 1640 page 2262 Reg. Office of Wilson Co. TN
6. 719, 721 & 723 Page Avenue Lebanon, TN deed book 1640 page 2271 Reg. Office of Wilson Co. TN
7. 603 Fairview Avenue Lebanon, TN deed book 1704 page 294 Reg. Office of Wilson Co. TN
8. 308 Dawson Lane Lebanon, TN deed book 1640 page 2257 Reg. Office of Wilson Co. TN
On Line Bidding Starts: October 29t, 2018 at 10:00 a.m. CST On Line
On Line Bidding Ends: Saturday, November 10th, 2018 to coincide with Live Auction, beginning at 10:00 a.m. CST
LIVE AUCTION IS NOVEMBER 10TH, 2018 10:00 AM CST at the Wilson County Expo Center 944 Baddour PK. Lebanon, TN 37087 Properties will be selling in the number sequence listed above with Two pieces of equipment selling about noon during the real estate auction.
• Viewing of all properties is available Sunday November 4th, from 2:00 – 4:00 p.m. CST, or;
• Contact the listing agent Dwayne Rogers at 615-504-3909 to schedule an appointment.
• Before Bidding
All bidders acknowledge and agree by their participation in the auction that the bidder has inspected the respective Properties offered onsite and online at auction today, or voluntarily chose not to inspect, and are not relying on any warranty or representation of Seller, Broker, Auction Company or any agent/employee thereof. Potential bidders are encouraged to make, or have made, their own inspections and due diligence prior to bidding on the property. These properties are selling “As-Is”, “Where Is” with no warranties or guarantees.
• Bidders Information and Security
All registration information the bidder provides to Century 21 West Main Realty & Auction LLC shall be current, complete and accurate. All bidders are responsible for any bids placed under their bidding numbers and passwords, if bidding online. Bidders must notify Auctioneer Mike Walker, Century 21 West Main Realty & Auction LLC if they believe that their bidder number and password have been compromised at 615-308-9009. Under no circumstances shall Bidder have any kind of claim against Century 21 West Main Realty & Auction LLC, or anyone else if the internet service fails to work correctly before or during the auction. Bidder agrees that by registering for the onsite or online auction, they have accepted all Terms and Conditions. Bidder is responsible for all bids placed by their bidder account.
• Buyer’s Premium
A 5% Buyer’s Premium will be added to the high bid price to determine the total contract sales price for the Property. A $250 administration fee will also be charged to the buyer at closing for each property.
• Absolute Auction
This auction is an absolute auction. This means that the property will sell to the highest and best bidder.
• Reserve Auction (if applicable)
Unless otherwise indicated, all lots in this auction are offered subject to a reserve, which is the confidential minimum price below which such lot will not be sold. Reserves are agreed upon between the Owner and Auctioneer. The Auctioneer reserves the right to bid as agent for the Owner up to the amount of the reserve by placing successive or consecutive bids for a lot or by placing bids in response to other bidders.
• Age Requirement-All bidders/purchasers must be 18 years of age or older.
• Company-Century 21 companies are independently owned and operated.
• Bid Increments-The minimum bid increment is $ 1,000 dollars. The auctioneer reserves the right to reduce the bid increment, at the auctioneer’s discretion, to entice additional bidding at any time during the auction.

• OnSite Bidder Registration/Authorization-All bidders must receive a bid number to bid. Onsite bidders are required to present a valid driver’s license upon registering. Bidder’s will allow registration clerk to make a copy of your ID.
• OnLine Bidder Registration/Authorization
All bidders must receive a bid number to bid. A valid driver’s license is required, and a photo or scanned copy of your driver’s license must be submitted to auctioneermikewalker@gmail.com in order to register to bid on line. A valid credit card is required to bid online. Online Bidder agrees that a $500.00 hold can be placed on their credit card for an internet service fee and that if they are the winning bidder and fail to close under the terms of this agreement, the $500 internet service fee is non-refundable and will be charged to their credit card. This authorization is not actually charged to your card. If they are not the winning bidder, the $500 internet service fee will be released, and the credit card will not be charged.
• OnLine Debit Card Warning
We require bidders to secure their accounts with a credit or debit card. Some of our auctions further require a deposit. If you use a credit card to secure your account, the auction deposit will take the form of a credit card authorization and will count against your credit limit for the duration of the authorization (up to 10 business days) If you use a debit card to secure your account, the auction deposit will take the form of a hold on funds in your bank account for the duration of the authorization. Century 21 West Main Realty & Auction, LLC (all offices independently owned and operated) highly recommends you secure your account with a credit card and is not responsible for any issues arising from the use of a debit card to secure your bidding account. Add a debit card at your own risk.
• Online Auction Ending
Beginning at the stated closing time, the auction software will conclude bidding with the following exception: The closing time of each specific property/lot will coincide with the selling of each property at the live auction determined by the auctioneer. There will be no soft close.
• Agreement of Purchase & Sale
Immediately following the close/selling of each property/lot, the high bidder will be required to enter into a Purchase and Sale Agreement either on site or via DocuSign for online bidders. This will take place at the end of the auction event for both onsite and online purchasers.
• Payment and Closing
The successful bidder, on site or online, will be required to sign the “Purchase and Sale Agreement” at the close of the auction and pay a non-refundable 15% of the total contract price to the Auction company to be deposited into the Auction Company’s escrow account. Online bidders will be emailed the purchase and sale agreement via DocuSign at the close of the entire auction and must sign within 24 hours of the close of the auction and must wire the 15% non-refundable deposit by the 4:00 pm Monday November 12th into the Closing Attorney’s escrow account. The Purchaser shall pay the remainder of the total contract sales price at the real estate closing. Closing shall take place no later than December 21st, 2018. The Escrow Agent / Closing Attorney will schedule and conduct the closing. Failure to do so will be considered a breach of contract.
• Escrow Agent / Closing Attorney
The purchase monies/wire deposits, for online purchasers for the real estate shall be paid to and deposited with: Lee & Lee Attorneys at Law, 109 East Gay St., Lebanon, TN 37087 615-444-1312 / Closing Attorney. Onsite purchasers shall make their earnest money deposit payable to: Century 21 West Main Realty & Auction
• Plat Maps or Survey
The Seller will provide a copy of the plat or boundary survey that was obtained from the Register of Deeds office if available. Seller will not provide a new survey.
• Deed-Seller shall provide a warranty deed.
• Lead-Based Paint/Mold Disclosures
Bidders agree that they have had the benefit of a 10-day period to inspect the subject premises for lead-based paint or lead-based paint hazards or mold. Bidders further agree that this 10-day period began with the first appearance of advertising promoting the property for sale at auction. If such inspection has not taken place within the 10-day period, the Purchaser agrees to waive the right to perform any further such inspections or tests before closing the transaction and will agree to accept the property in as-is condition and agree to sign the Lead Based Paint and Mold disclosures at time of signing the purchase contract.
• Evidence of Title
Auctioneer shall post a preliminary title of opinion and other supporting documents on its website before the conclusion of the auction. Seller agrees to provide merchantable title to the Property subject to matters of record, general conditions of title and similar or related matters identified in the preliminary title commitment.
• Title Insurance
The Purchaser may obtain an owner’s title insurance policy in the amount of the purchase price from the Closing Attorney at the Purchaser’s cost. Contact Lee & Lee Attorney’s for pricing at 615-444-1312
• Real Estate Taxes & Real Time Order of Sale
Real estate taxes and assessments shall be pro-rated to the date of Closing. Taxes for 2018 are as follows:
631 Leeville Pike Lebanon, TN $733.00
455 Thomas Rd. Lebanon, TN $344.00
613 C.L. Manier Lebanon, TN $486.00
7740 Carthage Hwy Lebanon, TN $ 317.00
150 Old Hunter’s Point Pike Lebanon, TN $219.00
719, 721 & 723 Page Avenue Lebanon, TN $ 220.00
603 Fairview Avenue Lebanon, TN $ 904.00
308 Dawson Lane Lebanon, TN $752.00
• Closing Costs
The Owner shall pay the following closing costs:
• Title commitment fee
• Costs to prepare the deed
• Pre-determined closing agent’s cost to the seller
• Any legal counsel retained by Owner in connection with the conveyance of the Property
The Purchaser shall pay the following costs:
• The cost of the standard owner’s ALTA title policy, if Purchaser chooses to have a title policy issued:
• Any special endorsements to the title policy;
• Any costs associated with title insurance issued in favor of Purchaser’s lenders, if any;
• All costs arising from or relating to any loan sought by Purchaser to finance the conveyance;
• All recording costs, transfer taxes and mortgage taxes arising from the deed, deed of trust and any other financing documents required by Purchaser’s lenders, if any;
• 50% of the closing agent’s cost to close the sale; and
• Any legal counsel retained by Purchaser in connection with the conveyance of the Property

• REAL ESTATE TERMS-Cash at closing
This is a cash sale and is not contingent on Purchaser’s ability to obtain financing, or any other buyer contingency. (Buyer’s may use financing; however, this sale is not contingent on financing, appraisals, or inspections that might be required by a lender and must be closed by the stated closing date) Buyer’s should already have made all financial arrangements prior to bidding. No Terms-Cash at Closing!

• As-Is Sale
The Purchaser shall accept the property in an as-is condition with all faults as of the closing date and the Purchaser shall specifically agree that the Seller has not and does not make any representations or warranties of any kind whatsoever, expressed or implied, to the purchaser regarding the property or any improvements thereon. All real estate, Land, buildings and improvements are being sold and purchased “AS-IS” without any warranties or guarantees, nor representations as to fitness, use, habitability, merchantability, condition, age, shape, size, quality, quantity, environmental impact, conditions or hazards, condition of wells or subsurface conditions being expressed or implied by sellers or their agents.

• The properties are selling subject to:
Anything an accurate survey/plat or personal inspection of the property may reveal, including any existing right-of-way(s), easements or claims to easements, any encroachments, rights or claims of parties in possession, restrictive covenants and easements, flood zones, zoning or subdivision regulations, building codes, governmental agency regulations, environmental conditions, soils test, perk test, septic systems, sewer systems and connections, lead-based paint, mold, asbestos, radon gas, hazardous materials, any mineral rights, water rights, riparian or littoral rights, and reservations or conveyances, if any, that might affect the premises. 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, descriptions, dimensions, maps, taxes, soils work, perk test, etc., as provided by the Seller and is believed to be correct; however, neither the Seller nor the Auctioneer, Auction Company or its representatives makes any guarantee or warranty as to the accuracy or completeness of such information.

• Possession
The Purchaser will receive possession at closing, subject to the rights of parties in possession and existing leases, if any. Current leases, if any, are month to month. Deposits, if any, will be transferred at closing.

• Agency Disclosure
Century 21 West Main Realty & Auction, LLC and its representatives are exclusive agents of the Seller and are agents of no other party to this transaction.

• Miscellaneous
All decisions of the Auctioneer shall be final; including methods of bidding, disputes among bidders, increments of bidding and any other matters that may arise before, during, or after the auction. Seller reserves the right to deny any person the right to participate in the auction or to ban anyone from the auction who attempts to disrupt it.

• Equal Opportunity Clause
All bidding is open to the public. The Property is available to qualified purchasers without regard to a prospective Purchaser’s race, color, religion, sex, familial status, national origin or physical handicap.

• Debt Collection & Interest Charge
The bidder agrees to pay all reasonable attorney fees and other costs incurred by Century 21 West Main Realty & Auction, LLC in its efforts to collect unpaid funds from the bidder. The bidder agrees that a fee of 2% of the outstanding balance per month be added to any unpaid balance due Century 21 West Main Realty & Auction, LLC. Any debt collection or dispute proceedings will be heard in Wilson County, Tennessee.

• Guaranty Agreement
By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees payment of any bid amount not paid when due by the business entity or corporation, for any reason, together with all collection expenses incurred to enforce collection, including a reasonable attorney fee.

• Mobile Homes
Some of these properties are mobile homes. The trailer’s on Page Ave have titles that will be presented at closing. The other two Double wide mobile homes are on permanent foundations.

• Seller Morgan & Neal Properties Inc.


Both Buyer’s and Seller’s agree that they have read, understand, and agree to the Terms and Conditions of this auction and by signing below, agree to adhere to these terms and conditions.







Buyer Signature Date


Buyer Signature Date


Seller Signature Date


Seller Signature Date

Listing Agent: Dwayne Rogers / Mike Walker

MLS#: 1978448