ABSOLUTE REAL ESTATE AUCTION & FARM EQUIPMENT ESTATE AUCTION

September 30, 2017

October 1, 2017

10:00 am

1490 Springvale Rd., Morristown TN 37813

see above

Property can be viewed at any time

Auction 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 30th – 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 29th, 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


top-bid-now-button

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.
FOR FINANCING PLEASE CONTACT
Roy Settle, Vice President – Agricultural Lending Division
First Bank and Trust
1185 N. State of Franklin Rd, 2nd 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.

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.

Organizers

Contact Information

Rob Strickland or Chuck Fisher 865.546.3206

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