ON LINE AUCTION

JAMES & NANCY C. JOHNSON LIVING Estate

1920 BRITT ROAD, BEECH BLUFF, TN 38313

Real Estate Auction ~ GENERAL AUCTION TERMS AND CONDITIONS

Extend All Dynamic Bidding Auction

BIDDING ENDS MONDAY, OCTOBER 20^TH, 2025 @ 12 NOON 

BIDDERS MUST REGISTER WITH ALEXANDER AUCTIONS & REAL ESTATE SALES
 AT WEBSITE (www.alexanderauctions.com)

BIDDERS SHOULD REVIEW ALL ONLINE TERMS PRIOR TO BIDDING!

1.       THE PROPERTY LISTED AND DESCRIBED ON THE ATTACHED LIST WILL BE OFFERED UNDER THE FOLLOWING TERMS AND CONDITIONS OF SALE, WHICH TERMS AND CONDITIONS OF SALE AND DESCRIPTIONS OF ITEMS LISTED ON THE ATTACHED, MAY BE AMENDED, UPDATED OR ALTERED AT THE TIME AND DURING THE SALE BY THE AUCTION COMPANY.

2.      THESE TERMS AND CONDITIONS OF SALE AND ANY ANNOUNCEMENTS FROM THE AUCTION COMPANY SHALL BE BINDING ON ANY BIDDER, WHETHER PRESENT, REPRESENTED BY AN AGENT OR ABSENTEE BIDDER.  BUYERS ARE BOUND BY THESE TERMS AND CONDITIONS OF SALE.

3.      tTERMS OF SALE:  ALL PROPERTY IS SOLD “AS-IS’ AND ‘WHERE-IS’ AND NEITHER ALEXANDER AUCTIONS & REAL ESTATE SALES NOR THE SELLER MAKES ANY EXPRESS OR IMPLIED WARRANTY OR REPRESENTATION OF ANY KIND OR NATURE WITH RESPECT TO THE PROPERTY BEING SOLD.  IN NO EVENT SHALL ALEXANDER AUCTIONS & REAL ESTATE SALES OR THE SELLER BE RESPONSIBLE FOR THE CORRECTNESS OF OR BE DEEMED TO HAVE MADE ANY REPRESENTATION OR WARRANTY OF MERCHANTABILITY, FITNESS FOR PURPOSE, DESCRIPTION, SIZE, GENUINENESS, YEAR OF MANUFACTURE, ATTRIBUTION, PROVENANCE OR CONDITION CONCERNING THE PROPERTY OR ANY WARRANTY THAT ANY ITEM COMPLIES WITH ANY APPLICABLE FEDERAL OR STATE LAWS.  NO STATEMENT SET FORTH IN THE ATTACHED LIST OR MADE AT THE SALE OR IN THE BILL OF SALE OR INVOICE OR ELSEWHERE, WHETHER ORAL OR WRITTEN, SHALL BE DEEMED SUCH A WARRANTY OR REPRESENTATION OR AN ASSUMPTION OF LIABILITY.  ALEXANDER AUCTIONS & REAL ESTATE SALES MAKES NO REPRESENTATION OR WARRANTY AS TO THE ACCURACY OF THE DESCRIPTIONS OR REPRESENTATIONS WHICH WERE PROVIDED BY THE SELLER AND ARE LISTED ON THE ATTACHED OR AS TO THE CONDITION OF THE ITEM

4.      ALEXANDER AUCTIONS AND REAL ESTATE SALES HAS BEEN COMMISSIONED BY JAMES JOHNSON & NANCY C. JOHNSON  TO SELL THIS PROPERTY AT PUBLIC AUCTION.

5.      REAL ESTATE CONSISTS OF 62.39 AC., AND IMPROVEMENTS IN HENDERSON COUNTY, TENNESSEE

6.      PROPERTY IS OFFERED IN 3 TRACTS. NO COMBINATIONS OF TRACTS WILL BE OFFERED.

DEED REFERENCES: DEED BOOK 304, PAGE 344  - DEED BOOK 295, PAGE 699 – DEED BOOK 267, PAGE 819 – DEED BOOK 135, PAGE 3  - DEED BOOK 135, PAGE 1, DEED BOOK 226, PAGE 601 – DEED BOOK 1, PAGE 7   

REGISTER’S OFFICE HENDERSON COUNTY, TENN. 38313

7.      PROPERTY TAX MAP 078B PARCEL 002.06

ASSESSOR’S OFFICE HENDERSON COUNTY, TENN. 38313

8.      2025 PROPERTY TAXES: $504.00 + SSD $43.00 = $547.00

9.      TRACT 1 – 16.64 ACRES RESIDENCE, DETACHED GARAGE, SHOP & IMPLEMENT SHED.

10.   TRACT 2 – 8.25 ACRES RESIDENCE & DETACHED CARPORT.  WEST OF TRACT 1

11.   TRACT 3 – 37.50 ACRES WEST OF TRACT 2.

12.   THE PROPERTY HAS 62.12 FEET FRONTAGE ON BRITT ROAD.  THE DRIVEWAY WILL BE DEEDED TO BUYER OF TRACT 1.

13.   TRACT 2 AND TRACT 3 ARE INGRESSED AND EGRESSED BY A PERPETUAL EASEMENT OVER AND THROUGH THE 62.12 FOOT DRIVEWAY EXTENDING FROM BRITT ROAD TO THE RESIDENCE ON TRACT 1.

14.   THE REAL ESTATE BOUNDARY WAS SURVEYED BY ADVANCED LAND SURVEYING, INC. HENDERSON, TN 38340 BY M. MANESS AND DATED 1/11/25.

15.   THE INDIVIDUAL TRACT LINES HAVE BEEN SET AND SURVEYED ON OCTOBER 1, 2025.

16.   SURVEY COST:  PURCHASER OF EACH TRACT SHALL PAY $600.00 FOR SURVEY COST AT THE CLOSING.

17.   CONDITIONS OF SALE:  PROPERTY IS BEING OFFERED IN AN ONLINE AUCTION.  THIS AUCTION HAS AN EXTEND-ALL FEATURE.

18.   BIDDER SHOULD REVIEW THESE TERMS, THE SALES & PURCHASE AGREEMENT (CONTRACT), AND OTHER EXHIBITS POSTED ONLINE AND IN THE DUE DILIGENCE REPORT.

19.   BUYER’S PREMIUM:  A 10% BUYER'S PREMIUM WILL BE ADDED TO THE FINAL BID ON THE REAL ESTATE TO REACH THE TOTAL SALES PRICE AND TOTAL CONTRACT PRICE.

20.   BIDDERS AND BUYERS MUST AGREE TO THESE AUCTION TERMS & CONDITIONS AND EXHIBITS INCLUDED WITH THE TERMS ONLINE BEFORE BIDDING. YOUR ACCEPTANCE OF THE TERMS AND CONDITIONS AND EXHIBITS ARE ACCEPTED AND APPROVED BY YOUR REGISTERING FOR A BIDDER NUMBER.

21.   PURCHASE AGREEMENT:  AFTER THE CLOSE OF THE AUCTION, THE SUCCESSFUL BIDDER WILL BE EMAILED A SALES AND PURCHASE AGREEMENT/CONTRACT TO BE SIGNED AND RETURNED TO ALEXANDER AUCTIONS & REAL ESTATE SALES WITHIN 24 HOURS OF COMPLETION OF THE AUCTION, ALONG WITH THE REQUIRED EARNEST MONEY DEPOSIT.

22.   EARNEST MONEY:  THE SUCCESSFUL BIDDER IS REQUIRED TO MAKE AN EARNEST MONEY DEPOSIT OF 15% OF THE TOTAL SALES PRICE AND CONTRACT PRICE ON ANY TRACT OF REAL ESTATE, WITHIN 24 HOURS AFTER THE AUCTION CLOSES, WHEN THE PURCHASE AGREEMENT IS SIGNED.  EARNEST MONEY IS NON-REFUNDABLE.

23.   EARNEST MONEY PAYMENT:  EARNEST MONEY PAYABLE BY CASH, WIRE TRANSFER, CASHIER’S CHECK OR PERSONAL CHECK WITH CURRENT BANK LETTER OF GUARANTY MADE TO ALEXANDER AUCTIONS.  SEE SAMPLE COPY OF BANK LETTER OF GUARANTY AT WEBSITE ONLINE.  NO CREDIT CARD PAYMENTS AND NO LETTERS OF INTENT ACCEPTED FOR PAYMENT.

24.   CASH OFFER:  BUYER(S) MUST BE PREPARED TO MAKE A CASH OFFER. THERE ARE NO CONTINGENCIES TO THIS SALE (I.E., FINANCING, APPRAISAL, REPAIRS, OR INSPECTIONS).  THEREFORE, YOU SHOULD BE PRE-QUALIFIED BY A LENDER PRIOR TO BIDDING IF YOU REQUIRE FINANCING.  THIS PROPERTY IS BEING SOLD FOR CASH “AS-IS, WHERE-IS” WITH A CLOSING DEADLINE.

25.   CLOSING DATE:  BALANCE OF THE PURCHASE PRICE SHALL BE DUE ON OR BEFORE DECEMBER 3^RD, 2025. 

26.   FAILURE TO CLOSE AND PAY THE BALANCE DUE AT CLOSING WILL REQUIRE BUYER TO FORFEIT THE EARNEST MONEY, BUYER IS SUBJECT TO THE ALL THESE TERMS AND CONDITIONS AND ANY OTHER TERMS INCLUDED IN THE PURCHASE AGREEMENT.

27.   LIQUIDATED DAMAGES:  SUCCESSFUL BIDDERS NOT EXECUTING AND RETURNING THEIR PURCHASE AGREEMENT ALONG WITH EARNEST MONEY DEPOSIT WITHIN FORTY-EIGHT (48) HOURS OF THE CONCLUSION OF THE AUCTION WILL BE CONSIDERED IN DEFAULT.  IF YOUR CLOSING IS DELAYED FOR ANY REASON, BY YOU, AS PURCHASER, OR OTHER PARTIES WORKING ON YOUR BEHALF, INCLUDING ANY LENDER YOU INVOLVE, YOU MAY BE DECLARED IN BREACH OF THIS CONTRACT, FORFEIT ALL DEPOSITS MADE AND COULD ADDITIONALLY BE LIABLE FOR ANY AND ALL COST INCURRED BY SELLER AND ALEXANDER AUCTIONS AND REAL ESTATE SALES INCURRED IN A SUBSEQUENT RESALE OF THE PROPERTY.  IF SUCH ACTION OCCURS, ALEXANDER AUCTIONS AND REAL ESTATE SALES HEREBY HAS THE RIGHT TO DISPERSE THE EARNEST MONEY AS STATED IN THE PURCHASE AGREEMENT AND THE BUYER HAS NO CLAIMS TO SUCH MONEY OR PROPERTY BEING SOLD.  LIQUIDATED DAMAGES ARE TO COVER COST OF AUCTION, COST INCURRED BY SELLER, LABOR COST AND ADDITIONAL COST OF THE AUCTION NOT DEFINED IN THIS AGREEMENT.  THESE LIQUIDATED DAMAGES DO NOT RESTRICT THE SELLER FROM SUING THE BUYER FOR PERFORMANCE DAMAGES AND/OR ANY ADDITIONAL DAMAGES THE SELLER SUFFERS BY THE DEFAULT OF THE BUYER.

28.   COMPLIANCE WITH THE TERMS OF SALE:  SUCCESSFUL BIDDERS AND OR BUYERS NOT EXECUTING AND RETURNING THE CONTRACT WITH EARNEST MONEY DEPOSIT WITHIN 48 HOURS OF THE CONCLUSION OF THE AUCTION WILL BE CONSIDERED IN DEFAULT.  IN THE EVENT A WINNING BIDDER AND OR BUYER FAILS TO SUBMIT THE SIGNED PURCHASE AGREEMENT (CONTRACT) FOR SALE OF REAL ESTATE AND EARNEST MONEY DEPOSIT, THE WINNING BIDDER AND OR BUYER SHALL PAY TO ALEXANDER AUCTIONS ANY DAMAGES, AN AMOUNT EQUAL TO THE BUYER’S PREMIUM OR COMMISSION PERCENTAGE AS SET FORTH IN SAID CONTRACT, AND ANY AND ALL EXPENSES INCURRED BY THE SAID ALEXANDER AUCTIONS FOR SAID AUCTION.  SHOULD BUYER’S EARNEST MONEY CHECK BE RETURNED FOR ANY REASON WHATSOEVER, THIS SHALL CONSTITUTE AN ITEM OF DEFAULT, AND IN ADDITION TO THE REMEDIES PREVIOUSLY STATED HEREINABOVE, BUYER SHALL ALSO PAY AN ADDITIONAL PENALTY OF FIVE PERCENT (5%) OF THE EARNEST MONEY CHECK TO ALEXANDER AUCTIONS.  BUYER SHALL ALSO PAY A REASONABLE ATTORNEY’S FEE AND COSTS INCURRED IN THE COLLECTION OF THESE MONIES OWED BY BUYER AS A RESULT OF BUYER’S DEFAULT.  BUYER SHALL ALSO PAY THE SELLER ANY DAMAGES CAUSED BY SAID BREACH OF CONTRACT, INCLUDING ATTORNEY’S FEES AND COSTS.  THIS SHALL NOT PRECLUDE THE SELLER FROM SUING FOR SPECIFIC PERFORMANCE OF THE CONTRACT OF SALE, IN ADDITION TO SAID DAMAGES.  IT IS SPECIFICALLY UNDERSTOOD AND AGREED BY AND BETWEEN THE SELLER AND ALEXANDER AUCTIONS THAT IN THE EVENT THE BUYER SHOULD DEFAULT IN THE TERMS OF THIS CONTRACT IN ANY MANNER WHATSOEVER, THE EARNEST MONEY, OR SUFFICIENT SUMS THEREFORE, SHALL BE PAID FIRST TO THE AGENT FOR THE BUYER’S PREMIUM OR COMMISSION PERCENTAGE, AND THE BALANCE, IF ANY, TO THE SELLER.  ANY DISPUTES WILL BE TRIED IN A COURT OF JURISDICTION IN WEAKLEY COUNTY OR HENDERSON COUNTY, TENNESSEE.  ALEXANDER AUCTIONS RESERVES THE RIGHT TO SELL TO THE NEXT HIGHEST QUALIFIED BIDDER OR ANY OTHER BIDDER OR BUYER IN THE EVENT THE SUCCESSFUL HIGH BIDDER AND OR BUYER DOES NOT COMPLY WITH THE TERMS OF THE SALE.  BY BIDDING ON THE PROPERTY, BUYER AGREES TO ALL TERMS AND CONDITIONS SET FORTH.  THE CONTRACT IS REQUIRED TO BE FULLY AND CORRECTLY COMPLETED, WITHOUT ANY MODIFICATIONS AND PROPERLY SIGNED.  A CONTRACT THAT IS INCOMPLETE, INCORRECT, OR MODIFIED IN ANY RESPECT, IS CONSIDERED TO BE IN DEFAULT.

29.   COMMISSION:  PURCHASER AGREES TO PAY A 10% BUYERS PREMIUM OF THE BID PRICE UPON CLOSING, WHICH IS EQUAL TO THE AGREED UPON COMMISSION BETWEEN SELLER, AGENT AND PURCHASER.  PURCHASER RECOGNIZES AND AGREES THAT THE 10% PREMIUM PAID AS COMMISSION FOR THIS TRANSACTION DOES NOT CONSTITUTE PURCHASER REPRESENTATION.

30.   POSSESSION OF ALL TRACTS AND THEIR IMPROVEMENTS WILL BE GIVEN AT CLOSING.

31.   2025 TAXES: TOTAL TAXES FOR 2025 WILL BE PAID BY SELLER.  BUYERS WILL PAY ALL FUTURE TAXES.

32.   GREENBELT ROLL BACK TAXES – BUYER TO ASSUME ANY ROLL BACK TAXES WHICH ARE ASSESSED TO ANY TRACTS CONSISTING 15 ACRES OR MORE AND ANY COMBINATION OF TRACTS TOTALING 15 ACRES OR MORE WHICH ARE ELIGIBLE FOR GREENBELT PROGRAM.  SELLER WILL PAY FOR ANY ROLL BACK TAXES WHICH ARE ASSESSED TO ANY TRACT NOT ELIGIBLE FOR THE GREENBELT PROGRAM.

33.   GREENBELT TAXES:  PURCHASER TO PAY ANY ROLL BACK TAXES THAT MAY BECOME DUE ON ANY TRACT OR COMBINATION OF TRACTS ELIGIBLE FOR GREENBELT BECAUSE NEW BUYER ELECTS NOT TO ENROLL THE PROPERTY IN THE GREENBELT PROGRAM.

34.   CLOSING DELAY:  IF YOUR CLOSING IS DELAYED FOR ANY REASON, BY YOU, AS PURCHASER, OR OTHER PARTIES WORKING ON YOUR BEHALF, INCLUDING ANY LENDER YOU INVOLVE, YOU MAY BE DECLARED IN BREACH OF THIS CONTRACT, FORFEIT ALL DEPOSITS MADE AND COULD ADDITIONALLY BE LIABLE FOR ANY AND ALL COST INCURRED, IN A SUBSEQUENT RESALE OF THE PROPERTY, BY SELLER AND ALEXANDER AUCTIONS.  IF SUCH ACTION OCCURS, ALEXANDER AUCTIONS HEREBY HAS THE RIGHT TO DISPERSE THE EARNEST MONEY IN THE PURCHASE AGREEMENT AND THE BUYER HAS NO CLAIMS TO SUCH MONEY OR PROPERTY BEING SOLD.  LIQUIDATED DAMAGES ARE TO COVER THE AUCTIONEER’S COMMISSION, COST OF AUCTION, COST INCURRED BY SELLER, LABOR COST AND ADDITIONAL COST OF AUCTION AS NOT DEFINED IN THIS AGREEMENT.  THESE LIQUIDATED DAMAGES DO NOT RESTRICT THE SELLER FROM SUING THE BUYER FOR PERFORMANCE DAMAGES AND/OR ANY ADDITIONAL DAMAGES THE SELLER SUFFERS BY THE DEFAULT OF THE BUYER.

35.   TITLE:  DEED TRANSFER WILL BE BY WARRANTY DEED SIGNED BY THE OWNERS.

36.   INSPECTION:  PROSPECTIVE PURCHASER(S) SHOULD INSPECT AND REVIEW THE PROPERTY TO BECOME FAMILIAR WITH THE PROPERTY BOUNDARY LINES AND THE PHYSICAL CONDITION OF THE IMPROVEMENTS AND COMPLETE THEIR OWN DUE DILIGENCE RESEARCH.

37.   DEED DESCRIPTIONS:  PROPERTY WILL BE SOLD ACCORDING TO THE CURRENT BOUNDARY PLAT AND LEGAL DESCRIPTIONS OR DIVISION OF THE NEW SURVEYED BOUNDARY LINES FOR THE INDIVIDUAL TRACTS.

38.   AGENCY DISCLOSURE: