Name Turner Estate / House & 5 acres / Hwy 100 & 230
Auctioneer Hudgins Auctions
Type Online-Only Auction
Date(s) 4/19/2021 - 5/20/2021
Location 5432 Hwy 230
Lyles, TN 37098
Buyer Premium 10% of the Bid Amount will be added
Description
W. D. Turner Estate - 1950's Cottage on 5 acres PRIME CORNER LOCATION Hwy 230 & Hwy 100 This parcel has road frontage on 3 roads! House & 5 acres located at the corner of Hwy 100 & Hwy 230 and bordering Dotson Lane. This tract has frontage on three roads! Excellent opportunity for potential commercial. The house was built in 1950 and features 1,440 sq ft of living space. If you are looking for a classic 1950's cottage for a remodel, consider this property. Of course this classic mid-century cottage needs repairs...needs a LOT of repairs!  But with the price of building materials (lumber) at record high prices, this is the ideal time to remodel an older home with a good, solid structure. Walk around inside this house and you can feel just how "SOLID" this house truly is.  The family reports the house was built by Mr. Weems in the 1950's, a well-known local contractor building quality homes.  Note the original hardwood floors are still in good condition. This 5 acre corner parcel is a highly coveted location for anyone with "commercial interests" or possibly multiple residential lots.  With almost 2,000' of total road frontage (1,924'), this corner location has a tremendous amount of potential for the new owner. Historical Note: This exact corner location was once the site of a roadside motor court.To VIEW the house, contact David Hudgins - (931) 994-7144 Auctioneer, TN Lic# 4787 Opening Bid: $50,000.00 Bidding Increments: $2,500.00 Bidding Ends Thursday, May 20th 6:30pm 10% Buyer's Premium added to Bid Terms:The buyer needs CASH or access to cash to complete the transaction.  This house is not ready for a mortgage. The successful bidder will deposit 10% down in escrow with the balance due in 30 days. The buyer will receive a CLEAR TITLE / General Warranty Deed. This parcel is part of a larger parcel and will require a new survey.  The buyer will share the costs of the new survey and legal description, NOT to exceed $1,000 (buyer cost).
Auction Terms & Conditions PROCEDURE: The property will be offered as a whole, house & 5 acres 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. Seller reserves the right to accept or reject the high bid. 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 30 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. EASEMENTS: Sale of said property is subject to any and all easements of record. SURVEY: New survey will be required AGENCY: Hudgins Auctions and its representatives are Exclusive Agents of the Seller. ZONING: Currently, the property is Residential UTILITIES: Water - Electricity 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. PROCEDURE: The property will be sold as a whole, house with an estimated 5 acres. Exact acreage to be determined by a new survey. 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. Estate Auction: Subject to confirmation by family. Seller reserves the right to accept or reject the high bid. 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 30 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: This property will require a NEW survey. The cost of this new survey and legal description to be shared equally between buyer and seller. AGENCY: Hudgins Auctions and its representatives are Exclusive Agents of the Seller. ZONING: Currently, the property is RESIDENTIAL. The property is located on the corner of Hwy 100 & Hwy 230 in the Hilltop area of Hickman County. This is approximately 45 minutes to one hour west of Nashville, TN. UTILITIES: Public Water & Electricity are available and onsite. The house is on a septic system. No records exist for the septic system. 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. LEAD-BASED PAINT DISCLOSURE: Seller has no knowledge, records, or reports of lead-based paint and/or lead-based paint hazards in the house. Buyer has received a 10-day opportunity (unless the parties mutually agreed upon a different period of time) before becoming obligated under the contract to purchase the housing to conduct a risk assessment or inspection for the presence of lead-based paint hazards. Upon signing the Purchase Agreement, Buyer waives the opportunity to conduct a risk assessment or inspection for the presence of lead-based paint and/or lead-based paint hazards. --------------------------------------------- ------------------------------------------ Terms Of Use

Seller User Terms

Bidder User Terms
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 2,000,000.00 2,500.00 USD
2,000,000.01 - 9,999,999.99 10,000.00 USD
Currency USD
Buyer Premium 10% of the Bid Amount will be added