1421 Murray Chapel Rd., Sweetwater, TN

FORECLOSURE AUCTION

130 ROOM HOTEL 1421 MURRAY CHAPEL RD., SWEETWATER, TN

AUCTION DETAILS

By Order of the Bank: FORECLOSURE AUCTION of a 130 Room Hotel located just off I-75 south of Knoxville, TN.

Bidding may be done online or in person. See Terms and Condtions for all details.

Final bids will be taken on Thursday, February 25, 2021 at 12:00 EST on site at the Courthouse steps of Monroe County Courthouse located at 105 College St., Madisonville, TN.

Financial information is not available for this property.

Features:

3.68± Acres
130 Rooms
2-Story
Fireplace Lounge Area
Newly renovated Sports Bar
Restaurant Space
Interior Covered Courtyard
Swimming Pool
Laundry Facilities
Interior Corridors
Exterior Corridors
Ample Parking
Interstate Visible Sign Pole
Just off Interstate 75

Terms & Conditions

Bid Deposit: 10% Bid Deposit
Bid Deposits will be accepted in the form of bank wire, cashier’s check or personal check with a bank letter guaranteeing the amount or a combination of these payment types. The high bidder will pay the Bid Deposit upon signing the sales contract at the auction.

Inspection
No formal inspections will be conducted.

Buyer's Premium
A buyer's premium of ten percent (10%) will be added to the high bid to determine the total price to be paid.

No Contingencies
All auction properties are sold in “as is” condition. No purchase shall be contingent on financing or any other contingencies. Potential buyers shall inspect the property as best they can prior to auction. Terms and conditions are preset and non-negotiable.

Subject to Back Taxes
The Buyer will be responsible for any back property taxes owed on the Property.

Substitute Trustee's Deed
The winning bidder will receive a Substitute Trustee's Deed upon Closing.

Closing
The successful bidder agrees to sign the contract sales form to be provided by the Substitute Trustee immediately following the auction. The entire purchase price must be paid by wired funds at closing. The closing shall take place not later than Seven (7) days after the auction.

Disclaimer
Announcements made at the auction supersede all printed material. All information included herein was derived from sources believed to be correct, but is not guaranteed. This property may be withdrawn from the auction at any time without notice.

Governing Law
These Bidder Terms and Conditions shall be governed by and construed in accordance with the laws of the State of Tennessee, including its statues of limitations, but without regard to its rules governing conflict of laws. All claims, disputes and other matters between the parties shall be brought in the state or federal courts sitting in and for Shelby County, Tennessee, which courts shall have exclusive jurisdiction, and shall be the exclusive venue, for any and all such claims, disputes, and other matters. By submitting a Bidder Registration and accepting a Bidder Number, each Registered Bidder irrevocably and unconditionally (i) agrees that any claim, suit or cause of action relating to these Bidder Terms and Conditions, or the transactions contemplated hereby, shall be brought in the state or federal courts sitting in and for Shelby County, Tennessee, (ii) consents to the jurisdiction of such courts for any such claim, suit or cause of action, (iii) waives any objection that such party may have to the laying of venue of any such claim, suit or cause of action in such courts; and (iv) waives any objection to the bringing of such claim, suit or cause of action in such courts on the grounds of forum non conveniens.