ABSOLUTE REAL ESTATE AUCTION & FARM EQUIPMENT ESTATE AUCTION

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Map

Map

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Event Information

Absolute Estate Auction Selling on behalf of the Porter Bell Estate.

Approx. 314 Acres, Sub-Divided into 32 Tracts ranging from 0.88 acres to 41.12 acres

1490 Springvale Road, Morristown (Hamblen County), TN 37813

Auction Date/Time: Saturday, September 30^th – 10am

Equipment will be sold immediately following sell of Real Estate

Inspection Date/Time: Property can be viewed at any time

Farm Equipment Auction Inspection Date/Time: September 29^th, 9am-4pm

BID LIVE OR ON-LINE

AUCTION DETAILS:

Former Dairy Farm
Vast Majority of Property is in Pasture
Improved with Single Family Home
Utility Water Available
Improved with Several Barns and Utility Buildings
Blue Line Stream Traverses Property
Over 4,500 Feet Frontage on Springvale Rd.
To be Sub-Divided into Tracts
To be Offered Separately and as a Whole
Convenient to I-81
Perfect for Horses or Livestock
Excellent Development Potential
EQUIPMENT TO BE AUCTIONED IMMEDIATELY AFTER REAL ESTATE

“Sale To Be Conducted On Site”

Absolute Farm Equipment Auction: Featuring John Deere 4430 & 4020 Tractors, Ford TW-35 Tractor, (2) Ford F800 Dump Trucks, (3) New Holland Skid Steer Loaders, Gehl 663 Shooting Boom Forklift, 24’ Aluminum 4-Star Cattle Trailer, Farm Implements and Wagons, 12-Station Milking System & 2,000 Gallon Stainless Tank. Read more here.

TN License #62

ONLINE BIDDING

PAYMENT TERMS

REAL ESTATE TERMS: 6% Buyer’s Premium on site, 13% Buyer's Premium on-line. Successful bidders will deposit 10% of the purchase price (including buyer’s premium) and is due sale day in the form of cash, cashier’s check, personal or company check plus a real estate sales contract must be signed. Balance is due in certified funds at closing.

2% Broker Participation Available

EQUIPMENT TERMS: 10% Buyer’s Premium Onsite – 13% Buyer’s Premium for Online Bidders. Payments should be made day of sale by Cash, Wire Transfer, Cashier’s Check, Company or Personal Check Accompanied by a Bank Letter of Guaranty. Mastercard & Visa Accepted for an additional 3% Surcharge.

2% Broker Participation Available

FOR FINANCING PLEASE CONTACT

Roy Settle, Vice President – Agricultural Lending Division

First Bank and Trust

1185 N. State of Franklin Rd, 2^nd Floor

Johnson City, TN 37602

Phone 423-282-3850

Fax 423-282-9066

Cell 423-433-7116

Email rsettle@firstbank.com

ZONING

A-1: Agricultural/Forestry District (Hamblen County)

According to the Hamblen County Schools, the subject property(s) are zoned for the following:

Elementary: Union Heights
Middle: East Ridge
High: Morristown/Hamblen East

UTILITIES

Electric: Holston Electric Coop
Water: Witt Utility District
Sewer: Not Available - Septic System Would Need to be Installed
Gas: Not Available

TAXES

The property is currently comprised of two large tax parcels, and the annual taxes for each of the existing two parcels are as follows:

Parcel 1: Map 50, Parcel 135, $2,590.48
Parcel 2: Map 50, Parcel 137, $467.65

Property is currently in the Greenbelt. In the event any portion of the property is removed from the Greenbelt, the SELLER will be responsible for applicable rollback taxes.

Any back/delinquent taxes will be paid by seller.

Buyer is responsible for pro-rata share of current year taxes at closing.

PROPERTY DOCUMENTS

DIRECTIONS

From I-81 at exit 8, take US-25 E towards Morristown and travel approx. 2.3 miles. Turn right onto Vineyard Rd. and travel approx. 0.3 miles. Take a slight right onto Spencer Hale Rd. (Spencer Hale Rd. turns into Springvale Rd.) and travel approx. 1.2 miles to property on left and right. Look for Auction Signs.