Auction Terms & Conditions Terms: 1) 10% Buyer’s Premium. 2) 10% Deposit of Total Sales Price. 3) Closing will take place within 30 days. 4) Closing is not subject to any conditions. 5) 2024 Taxes prorated. 6) Possession will be on the day of closing. 7) This property sells “As Is, Where Is” surface and subsurface without warranties. Buyer will receive clear title & title insurance. 8) Bidders should complete their due diligence before the sale, not after the auction. 9) Announcements & Updates Day of Sale Take Precedence Over All Other Advertising. 10) Buyer and Seller will close with Paramount Title in Cookeville, TN. 11) Buyers are required to sign a real estate contract on the day of the sale. 12) Buyers must pay the 10% earnest money within 24 hours of the sale or the next business day. Saturday Auctions Earnest Money Due On Monday. 13) Earnest Money: CHECK or WIRE funds directly to Paramount Title. Instructions will be sent to winning bidder. 15. Buyer will receive a clear and insurable title with no liens. 16. Buyer will receive title insurance for the property at the seller's expense. 17. A title search has already been performed on this property. Example Sale: Bid Price is $100,000 a 10% Buyer Premium is added to establish the sales price of $110,000. A sales contract will be written for that amount. The buyer would send a 10% deposit of $11,000 to the title company and bring the rest to closing.