- May 05 2023
TimeBIDDING BEGINS TO CLOSE AT 12:00PM - Noon (ET)
- 12:00 pm
Indian Mountain Land – 712+/- acres – Located in Jellico, TN & Williamsburg, KY
ONLINE ONLY REAL ESTATE AUCTION
Gorgeous recreational land at Indian Mountain
BIDDING BEGINS TO CLOSE:
Friday, May 5th
at 12:00PM – Noon (ET)
- 712.80+/- acres (per the deed)
- Per the deed, the property is comprised of 567+/- acres in Campbell County, TN and 145.8+/- acres in Whitley County, KY – this property is being sold “as-is” by the deed with no survey completed
- Gorgeous property at Indian Mountain – the peak of Indian Mountain is on this property
- Indian Creek frontage, flowing throughout property
- Multiple man-made ponds/lakes
- Close proximity to Indian Mountain State Park
- Excellent recreational property with endless possibilities
- Use as a private retreat, hunting property, rental development – endless possibilities – just use your imagination
- Multiple roads on property for easy traversing
- PROPERTY BOUNDARIES THAT ARE SHOWN ON ANY TAX MAPS OR MAPS SUPPLIED ARE NOT GUARANTEED TO BE ACCURATE AS NO SURVEY HAS BEEN COMPLETED. ANY MAPS SHOULD BE USED AS A GUIDE ONLY.
- Additional mineral rights are conveying with this transaction (mineral rights of Campbell County Parcel/Tax IDs: 003 025.00 M 001 and 003 045.01 M 000)
- There is a pipeline right-of-way easement and compressor site & right-of-way on the property in favor of Alamco Inc.
- There is a 20′ right-of-way recorded in Deed Book W120, Page 306 in the Register of Deeds Office of Campbell County, TN and Deed Book 228, Page 629 of the Public Records of Whitley County, KY
- Multiple oil and gas leases are on the property as seen in the attached Title Opinions
- Oil & Gas Royalties paid are about $4,000/year, $1,000/year paid for right-of-way and $1,000/year paid for compressor site – all currently paid to property owner by Vinland Energy, LLC
Campbell County Parcel/Tax IDs:
003 026.00, 003 026.00 M 001, 003 025.00 M 001, and 003 045.01 M 000
Whitley County Parcel/Tax ID:
Yearly Property Taxes:
$1,959.46 Total | $1,396.56 (Campbell County) | $562.90 (Whitley County)
712.80+/- acres – per tax records (567+/- acres in Campbell County, TN & 145.8+/- acres in Whitley County, KY) – this property is being sold “as-is” by the deed with no survey completed
From downtown Jellico, take London Avenue (runs beside Indian Mountain State Park). Bear right onto London Street. Turn left on Black Oak Road (some GPS/maps use Proctor Hollow Road instead of Black Oak Road). After approx. 0.7 mile, there will be a gravel drive that will to the left. From there, you will come to a bridge that will cross the creek. Either park before crossing the bridge and walk in or cross the bridge with your vehicle. WHEREVER YOU PARK YOUR VEHICLE, PLEASE LEAVE YOUR VEHICLE OUT OF THE ROADWAY. TRUCKS USE THIS ROAD TO ACCESS THE PIPELINE COMPRESSOR STATION ON THE PROPERTY.
SALE CONDUCTED IN CONJUNCTION WITH
Adam Hill, Broker (KY Lic #205713)/Auctioneer (KY Lic #253313)
Interstate Auction & Realty | 606-528-3760
KATHRYN HALL | Rural 1st Loan Officer | NMLS 1413546
[email protected] | 865-299-3637
Specialized financing for land, farms, and new construction
Down payments as low as 15% | Long term, fixed rates for land loans
Real Estate Terms:
Powell Auction will email winning bidder your contract. The successful high bidder on this property will be required to sign the Real Estate Sales Contract, Terms & Conditions and any other documents needed, upon conclusion of the bidding and will make an earnest money deposit of ten percent (10%) of the sales price. A ten percent (10%) buyer’s premium will be added to the high bid to establish the total sales price. US currency cash or approved check. The balance is to be paid in full at the deed closing. By bidding you are entering into a binding agreement.
M & M Title Company will be conducting the closing. Current taxes, will be prorated at the date of closing, unless otherwise specified. Seller to provide deed. Buyer is responsible for title opinion, title insurance & recording fees. Buyer is responsible for HOA requirements, transfer fees, membership fees, if applicable. Title company closing cost to be split between buyer & seller. Buyer is to obtain his/her own financing. Closing to occur on or before June 5th, 2023.
The contract will not be contingent upon financing, inspections or any other contingencies.
Powell Auction & Realty LLC and its auctioneer(s) and employee(s) are representing the seller(s) as the sellers Agent(s).
All properties are sold “AS IS, WHERE IS and WITH ALL FAULTS”, without any warranties expressed, implied or guarantees of any kind. Agent represents the seller only and does not inspect properties on bidder’s behalf. All measurements, square footage & age are approximate and not guaranteed. Seller and or Agent makes no warranty as to accuracy of information. All information is deemed reliable, but not guaranteed, buyer to verify ALL information, to their satisfaction before bidding. Tennessee Residential Property Exemption and Lead-Based Paint Waiver will be part of the sales contract. **Powell Auction reserves the right to withdraw, without notice, any items in the auction at any time.**
Thank you for participating in this Powell Auction & Realty LLC Online Auction.
It is important that you familiarize yourself with these terms & conditions of Sale. If you do not agree with any of the terms and conditions stated, DO NOT BID. You will be bound by these terms and conditions. Good luck and good bidding. Agent/Auctioneer may withdraw, extend, or rearrange any property and or item(s) at their sole discretion at any time, without notice and will not be liable for any computer, internet or website malfunctions. Bidding may extend, if bids are placed within the last minute, to prevent bid sniping. Powell Auction & Realty LLC will have up to 7 DAYS to provide the Buyer with any documents to be signed, after the auction has ended. Payment must be made within 48 Hrs after being contacted by Powell Auction & Realty LLC. All properties are sold “AS IS, WHERE IS and WITH ALL FAULTS”, without any warranties expressed or implied or guarantees of any kind. Agent represents the seller only and does not inspect properties on bidder’s behalf. All information is deemed reliable, but not guaranteed, buyer to verify ALL information, to their satisfaction before bidding. We do not approve any international bidding. It is up to the auctioneer to approve or disapprove bidders.
New Bidders, please Pre-Register, we will have to approve you to Bid!