Auction Details

840 - Hwy 100 - Spencer Mill Rd - 50 acres / 3 Tracts  -  Online Auction


Dates
Starts: Thu, Sep 27 at 12:00 AM US/Central

Ends: Wed, Nov 14 at 6:00 PM US/Central

Sullivan Estate Family Land Auction
I-840 & Hwy 100 & Spencer Mill Rd


50.5 acres offered in 3 Parcels
(Please note other Sullivan Estate Land selling on different nights)
Liberty Road / Turnbull Creek Land selling on Nov. 13th
Fairview Blvd - 118 acres selling Nov. 15th
 
3 Parcels presented in Multiple Parcels & Combinations
# 1 - 19.00 acres (estimated) 450' road frontage on Spencer Mill Rd
#2 - 19.00 acres (estimated) 450' road frontage on Spencer Mill Rd
#3 - 13.00 acres (estimated) 500' road frontage on Hwy 100

We will also offer this 50 acre parcel in combinations, based on the following:
Lot # 4 - 38.00 acres (estimated), this is the Combination of Lots #1 & #2.
Lot # 5 - 50.5 acres (per tax record and deed)

ACREAGE: These acreages are "estimates" based on the aerial views and boundary lines.  The final bid amount will be divided by the acreage amounts listed to determine a "Per Acre" amount for each parcel.  This "Per Acre" amount will be used to calculate the final purchase price once a survey, if required, is performed.
Selling in multiple parcels will require a new survey.  The new survey will determine the  exact acreage of each new parcel.

This parcel is in the corporate city limits of the City of Fairview.  It is zoned Commercial, but currently a "Residential / Agricultural Use".

Williamson County has this property / parcel appraised at $468,300.00

SURVEY - Some of the larger parcels are being offered in smaller tracts (Multiple Parcels). If a single, large parcel sells as a whole, as currently recorded by Williamson County Property Assessor's office, that parcel can sell and transfer per existing deed. There will be no need for a new survey.
If a single, large parcel sells in tracts, a NEW SURVEY will be required. The licensed Tennessee Land Surveyor, Cumberland Survey, has quoted a price of $100 per acre (maximum) per tract. The cost of a new survey, if required for subdividing the larger parcels, will be equally split between buyer and seller (at a maximum of $50 per acre, per side). Once the new acreage amount has been determined by the new survey, the total purchase price will be adjusted according to the established "per acre" amount as calculated by the total bid amount and the acreage identified in the marketing. (Example: total bid / purchase $110,000 for a 11 acre tract = $10,000 per acre. The new survey reveals 10 acres; total purchase amount will be $100,000.)
If the buyer of a single, whole tract (not a subdivided tract) prefers a new survey over the existing recorded legal description, that cost will be at the buyer's expense. The same terms for "new surveyed acreage price adjustment" will apply: Once the new acreage amount has been determined by the new survey, the total purchase price will be adjusted according to the established "per acre" amount as calculated by the total bid amount and the acreage identified in the marketing.
 
PROCEDURE: The property / parcel located at the corner of Spencer Mill Road and Hwy 100 is listed by deed as 50.5 acres.  This parcel is being offered in Multiple Parcels & Combinations.  There are FIVE (5) LOTS being presented in this auction for this 50 acre property.

DOWN PAYMENT: A 10% down payment of the total contract purchase price will be due immediately after being declared the buyer. The down payment may be paid in the form of personal check, business check, or cashier's check. The balance of the contract purchase price is due in cash at closing within 30 days.

YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING.

ACCEPTANCE OF BID PRICES: The successful bidder will sign a purchase agreement immediately following the close of online bidding.  This is a Reserve Auction, whereby the Sullivan Estate / Family will make the final decision.

BUYER'S PREMIUM: A Ten percent (10%) Buyer's Premium will be added to the final bid price to arrive at the total contract purchase price paid by the Buyer.

CLOSING: Closing shall take place a minimum of 30 days, closer to 45 days after the contract has been fully executed, or as soon thereafter as applicable closing documents are completed.

POSSESSION: Possession will be given at closing - Date of Deed.

TITLE: Seller shall execute a proper deed (General Warranty Deed) conveying the real estate to the buyer(s). Property will be conveyed with good, clear title. Buyer has the option to purchase TITLE INSURANCE.

REAL ESTATE TAXES AND ASSESSMENTS: The current year taxes on said Property shall be prorated to the date of closing. There are no liens on this property and all taxes are paid current.

EASEMENTS: Sale of said property is subject to any and all easements of record

SURVEY: A NEW survey may be required should this 50 acre parcel sell in Multiple Parcels.  If this property is sold as a whole, a new survey may not be required.

SURVEY COST TO BE SPLIT: Should a survey be required, the exact cost of the survey shall be split equally, 50/50, between the buyers and sellers.  The maximum amount the buyers shall pay for the parcel or parcels they purchase shall not exceed $50 per acre.


AGENCY: Hudgins Auctions and its representatives are Exclusive Agents of the Seller.

ZONING: Currently, the property is Agricultural / Farm. The property is located approximately two miles off Hwy 100 in the Mill Creek area. This is approximately one hour west of Nashville, TN.

UTILITIES: Public Water is located on Hwy 100 / Fairview Blvd.  There is NO public water located on Spencer Mill Road.  Electricity is available and onsite.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this website listing and all related materials are subject to the terms and conditions outlined in the agreement to purchase. The auctioneer may UPDATE these Terms prior to the auction end date and time. Any changes will be made known to all registered bidders. The property is being sold on an "AS IS, WHERE IS" basis, and no warranty or representation, either express or implied, concerning the property is made by the Seller or the auction company. Each registered bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this listing is believed to be accurate but is subject to verification by all parties relying on it. No liability for its accuracy, errors or omissions is assumed by the Seller or the auction company. All acreages are approximate and have been estimated based on either the current survey, deed of record or property assessor's report.
 

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Hudgins Auctions
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