Knox County Surplus Delinquent Tax Properties

ONLINE ONLY REAL ESTATE AUCTION

48 properties to be sold!

Knox County has ordered the sale of surplus delinquent tax properties. ONLINE BIDDING ONLY –  BIDDING BEGINS TO CLOSE: Wednesday, December 13th at 12:00PM-Noon (ET). All bidding starts at $50. IF you are the high ONLINE bidder, then you will receive an email with further instructions. This auction IS SUBJECT TO REBID per T.C.A. 67-5-2507. Pursuant to Resolution R-07-1-903 passed by the Commission of Knox County, Tennessee, bidders hereby acknowledge by submission of their bid or proposal that they are current in their respective Federal, State, County and City taxes of whatever kind or nature and are not delinquent in any way.

NO BACK TAXES ARE OWED ON THESE PROPERTIES.

Bidders delinquent on any taxes, or who have been delinquent within the past 5 years, of whatever kind are not eligible and risk debarment from future sales. In no event shall Knox County or Powell Auction & Realty LLC, be liable for any indirect, incidental, consequential, special or exemplary damages or lost profits, even if Knox County has been advised of the possibility of such damages.

If a purchaser fails to close on a property, they forfeit their full earnest money deposit and buyer’s premium and may be banned from future Knox County auctions.

REBIDS:
All properties were acquired by Knox County as part of the Knox County Trustee’s Tax Sale and are subject to rebid per T.C.A 67-5-2507. Results of the ONLINE auction will be published in the Knoxville Focus on 01/08/2024. Bidders will then have ten (10) business days from the publication of the notice to increase the final ONLINE bid price by ten percent (10%) or more. All rebids must be submitted in writing, to the Knox County Government Procurement Office, ATTN: Ben Sharbel, 1000 North Central Street, Knoxville, Tennessee 37917. REBID DEADLINE IS MONDAY, JANUARY 22ND AT 4:30PM (ET). For more information on rebids, contact Knox County: Ben Sharbel at 865-215-5765 ben.sharbel@knoxcounty.org

The high ONLINE bidder will be contacted IF their bid gets raised. IF there is no rebid on a property, the ONLINE auction result is final.

LIVE AUCTION FOR REBID PROPERTIES:
IF a property IS rebid, then all bidders will be notified of a Final, LIVE auction.

A final live auction on all properties with a valid rebid will be held be on Wednesday, January 31st – TIME TO BE ANNOUNCED – at Powell Auction & Realty, LLC located at 6729 Pleasant Ridge Road, Knoxville, TN 37921. If there is no rebid on a property, then the online auction is final. Bidding at the final LIVE auction will begin at the highest rebid price.

IF you remain the high ONLINE bidder, then the Buyer will receive an email and will need to sign a Real Estate Sales Contract, Terms & Conditions & any other required documents WITHIN 48 hours of being contacted, and pay a Deposit of 10% or $1,000.00 (which ever is greatest) or pay the full amount of purchase price if less than $1,000, per Property. US currency Cash OR Approved Check. 5% Buyer’s premium added to final price to establish total contact sales price.

IF you are the high bidder at the live rebid auction, then the Buyer will need to sign a Real Estate Sales Contract, Terms & Conditions & any other required documents immediately following the conclusion of the auction, and pay a Deposit of 10% or $1,000.00 (which ever is greatest) or pay the full amount of purchase price if less than $1,000, per Property. US currency Cash OR Approved Check. 5% Buyer’s premium added to final price to establish total contact sales price.

The Knox County Law Department will conduct the closings. The balance is to be paid in full at the closing within 60 days following Knox County Commission Approval. All properties will be transferred with a Quit Claim Deed. The buyer is responsible for recording the deed.

SALE IS SUBJECT TO KNOX COUNTY COMMISSION APPROVAL.
PLEASE NOTE that these properties were obtained via the Knox County Trustee’s Tax Sale and may NOT qualify for TITLE INSURANCE. Sellers OR Sellers Agent make NO Warranties on these properties or that Title Insurance can be obtained and the Buyer is advised to seek legal counsel.

Real Estate Property Taxes will start at Closing for the Buyer. 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).

TENANTS: The Buyer understands and acknowledges that IF properties are occupied by tenants/previous owner: The purchaser IS buying the property with the tenants/previous owner in possession AND buys the property subject to the rights of tenants/ previous owner in possession and all applicable rules and regulations relating thereto, and Seller and Auctioneer make no representations or warranties regarding the same.

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. IF applicable, a Tennessee Residential Property Exemption and Lead-Based Paint Disclosure Waiver will be a part of the sales contract. Lead-Based Paint inspection starts December 1, 2023.

Powell Auction reserves the right to withdraw, without notice, any items in the auction at any time. Terms are subject to change. All announcements made at the auction take precedence over all other advertising and or any type and kind of material.

ONLINE AUCTION TERMS:
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.

Soft Closing : The Auctioneer’s online auctions are designed to mimic a traditional “live” auction. For this reason, the Soft close will allow extended bidding until no bids are placed for one minute. 10% Buyer’s Premium is added to all bids to establish total purchase price. If a bid is placed within last two minutes additional minute will be added to ensure everyone gets time to place their bid.

New Bidders, please Pre-Register, we will have to approve you to bid!