Minimum Bid Deposit:         10% of Bid Amount
Bid Deposits will be accepted in the form of cash, cashiers checks, bank wire 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
All inspections must be done prior to the auction date.  See website for Preview Dates.

No Contingencies
All auction properties are sold in “as is” condition.  No purchase may be contingent on financing or any other contingencies.  Potential buyers are given ample time to inspect properties prior to auction.
Terms and conditions are preset and non-negotiable.

Selling Subject to Back Property Taxes
All sales are subject to the past property taxes due on the property, meaning that the high bidder will be responsible for the payment of any past or current property taxes due to the city or county.  These amounts may be found on the Shelby County Property Assessor’s website.  Any amounts posted on Morris Realty & Auction’s website are the best available information that we have and Morris Realty & Auction does not warranty the accuracy of that information.

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.

Closing
The successful bidder will pay the minimum Bid Deposit on the Auction Date and agrees to sign a real estate sales contract at the auction. The entire purchase price must be paid by Cashier's or Certified Check, or wired funds within thirty (30) days from the Auction Date. The Substitute Trustee will prepare and deliver a Substitute Trustee’s Deed in exchange for the full payment. The Substitute Trustee’s offices are:
Walter N. Winchester, Esq.
Winchester, Sellers, Foster & Steele, PC
Suite 1000, First Tennessee Plaza
Knoxville, TN 37929
Phone: (865) 637-1980
Fax: (865) 637-4489

Broker Participation
All licensed real estate brokers are encouraged to participate by bringing your buyers to the auction. A commission will be paid to the licensed and qualified broker whose properly registered buyer is the successful bidder at the auction, and whose buyer purchases the property. Brokers must register their prospective buyer on the required Broker Participation Form (completely filled out and signed). The form may be obtained by calling 901-565-7770. This form must be submitted to Morris Auction Group no later than 24 hours prior to 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.

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.

Minimum Bid Deposit:         10% of Bid Amount
Bid Deposits will be accepted in the form of cash, cashiers checks, bank wire 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
All inspections must be done prior to the auction date.  See website for Preview Dates.

No Contingencies
All auction properties are sold in “as is” condition.  No purchase may be contingent on financing or any other contingencies.  Potential buyers are given ample time to inspect properties prior to auction.
Terms and conditions are preset and non-negotiable.

Selling Subject to Back Property Taxes
All sales are subject to the past property taxes due on the property, meaning that the high bidder will be responsible for the payment of any past or current property taxes due to the city or county.  These amounts may be found on the Shelby County Property Assessor’s website.  Any amounts posted on Morris Realty & Auction’s website are the best available information that we have and Morris Realty & Auction does not warranty the accuracy of that information.

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.

Closing
The successful bidder will pay the minimum Bid Deposit on the Auction Date and agrees to sign a real estate sales contract at the auction. The entire purchase price must be paid by Cashier's or Certified Check, or wired funds within thirty (30) days from the Auction Date. The Substitute Trustee will prepare and deliver a Substitute Trustee’s Deed in exchange for the full payment. The Substitute Trustee’s offices are:
Walter N. Winchester, Esq.
Winchester, Sellers, Foster & Steele, PC
Suite 1000, First Tennessee Plaza
Knoxville, TN 37929
Phone: (865) 637-1980
Fax: (865) 637-4489

Broker Participation
All licensed real estate brokers are encouraged to participate by bringing your buyers to the auction. A commission will be paid to the licensed and qualified broker whose properly registered buyer is the successful bidder at the auction, and whose buyer purchases the property. Brokers must register their prospective buyer on the required Broker Participation Form (completely filled out and signed). The form may be obtained by calling 901-565-7770. This form must be submitted to Morris Auction Group no later than 24 hours prior to 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.

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.

Minimum Bid Deposit:         10% of Bid Amount
Bid Deposits will be accepted in the form of cash, cashiers checks, bank wire 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
All inspections must be done prior to the auction date.  See website for Preview Dates.

No Contingencies
All auction properties are sold in “as is” condition.  No purchase may be contingent on financing or any other contingencies.  Potential buyers are given ample time to inspect properties prior to auction.
Terms and conditions are preset and non-negotiable.

Selling Subject to Back Property Taxes
All sales are subject to the past property taxes due on the property, meaning that the high bidder will be responsible for the payment of any past or current property taxes due to the city or county.  These amounts may be found on the Shelby County Property Assessor’s website.  Any amounts posted on Morris Realty & Auction’s website are the best available information that we have and Morris Realty & Auction does not warranty the accuracy of that information.

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.

Closing
The successful bidder will pay the minimum Bid Deposit on the Auction Date and agrees to sign a real estate sales contract at the auction. The entire purchase price must be paid by Cashier's or Certified Check, or wired funds within thirty (30) days from the Auction Date. The Substitute Trustee will prepare and deliver a Substitute Trustee’s Deed in exchange for the full payment. The Substitute Trustee’s offices are:
Walter N. Winchester, Esq.
Winchester, Sellers, Foster & Steele, PC
Suite 1000, First Tennessee Plaza
Knoxville, TN 37929
Phone: (865) 637-1980
Fax: (865) 637-4489

Broker Participation
All licensed real estate brokers are encouraged to participate by bringing your buyers to the auction. A commission will be paid to the licensed and qualified broker whose properly registered buyer is the successful bidder at the auction, and whose buyer purchases the property. Brokers must register their prospective buyer on the required Broker Participation Form (completely filled out and signed). The form may be obtained by calling 901-565-7770. This form must be submitted to Morris Auction Group no later than 24 hours prior to 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.

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.

Minimum Bid Deposit:         10% of Bid Amount
Bid Deposits will be accepted in the form of cash, cashiers checks, bank wire 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
All inspections must be done prior to the auction date.  See website for Preview Dates.

No Contingencies
All auction properties are sold in “as is” condition.  No purchase may be contingent on financing or any other contingencies.  Potential buyers are given ample time to inspect properties prior to auction.
Terms and conditions are preset and non-negotiable.

Selling Subject to Back Property Taxes
All sales are subject to the past property taxes due on the property, meaning that the high bidder will be responsible for the payment of any past or current property taxes due to the city or county.  These amounts may be found on the Shelby County Property Assessor’s website.  Any amounts posted on Morris Realty & Auction’s website are the best available information that we have and Morris Realty & Auction does not warranty the accuracy of that information.

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.

Closing
The successful bidder will pay the minimum Bid Deposit on the Auction Date and agrees to sign a real estate sales contract at the auction. The entire purchase price must be paid by Cashier's or Certified Check, or wired funds within thirty (30) days from the Auction Date. The Substitute Trustee will prepare and deliver a Substitute Trustee’s Deed in exchange for the full payment. The Substitute Trustee’s offices are:
Walter N. Winchester, Esq.
Winchester, Sellers, Foster & Steele, PC
Suite 1000, First Tennessee Plaza
Knoxville, TN 37929
Phone: (865) 637-1980
Fax: (865) 637-4489

Broker Participation
All licensed real estate brokers are encouraged to participate by bringing your buyers to the auction. A commission will be paid to the licensed and qualified broker whose properly registered buyer is the successful bidder at the auction, and whose buyer purchases the property. Brokers must register their prospective buyer on the required Broker Participation Form (completely filled out and signed). The form may be obtained by calling 901-565-7770. This form must be submitted to Morris Auction Group no later than 24 hours prior to 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.

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.

Minimum Bid Deposit:         10% of Bid Amount
Bid Deposits will be accepted in the form of cash, cashiers checks or personal check with a bank letter guaranteeing the amount or a combination of these payment types.  Please make the cashier's check(s) payable to yourself. In the event that you are the high bidder, you will simply endorse the check to Morris Auction Group as a non-refundable bid deposit. In the event you are not the high bidder, your cashier's check will be returned to you, and you may simply deposit it into your account. The high bidder will pay the Bid Deposit upon signing the sales contract at the auction.

Inspection
All inspections must be done prior to the auction date.  Inspection may be done anytime.

No Contingencies
All auction properties are sold in “as is” condition.  No purchase may be contingent on financing or any other contingencies.  Potential buyers are given ample time to inspect properties prior to auction.
Terms and conditions are preset and non-negotiable.

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.

Closing
The successful bidder will sign a real estate sales contract at the auction.  The entire purchase price must be paid by Cashier's or Certified Check, or wired funds at closing. The closing shall take place not later than thirty (30) days after the auction.  Closing attorney for both parties and place of closing is:
   Ray Beliles, Apperson Crump
   6000 Poplar Ave Ste 100
   Memphis, TN 38120

Broker Participation
All licensed real estate brokers are encouraged to participate by bringing your buyers to the auction. A commission will be paid to the licensed and qualified broker whose properly registered buyer is the successful bidder at the auction, and whose buyer purchases the property. Brokers must register their prospective buyer on the required Broker Participation Form (completely filled out and signed). The form may be obtained by calling 901-565-7770. This form must be submitted to Morris Auction Group no later than 24 hours prior to the Auction.

BIDDER REGISTRATION:
In order for us to have enough time to conduct authorizations, it is encouraged that your register and bid early. Waiting till the last minute to register and or become comfortable with the system could negatively affect your bidding. We encourage you to register at least 24 hours in advance of the auction.

In order to better serve our customers, all bidders must provide their name, address, daytime phone number or cell number, credit card information and email address at which they can be contacted. This is to insure good communication between MRA and the bidder throughout any transactions. Each bidder's identity will be verified. Bidding rights are provisional, and if complete verification is not possible, MRA may reject the registration, and bidding activity will be terminated.

BIDDING PROCEDURES:
On-line auctions move quickly!  One item closes every few seconds.  If you are interested in bidding, bid quickly, especially at the close of the bidding time. The bidding software will notify bidders by email when they have been outbid. Bidders may also find out if they have been outbid by refreshing the individual lot information or the entire screen. Due to varying internet connections speed, please place a maximum or “MAX” bid or constantly monitor the auction at close of bidding. Email notifications can be delayed. If you win you will be notified by email. It is recommended that you watch the auction at the extended bidding time session to make sure you are the high bidder.

By placing a bid, you acknowledge that your bid is a legally binding offer to purchase the item property being auctioned. Times shall be of the essence. MRA reserves the right to update, lower bids, withdraw bids or re-catalog items in this auction. Winning high bidders are notified by email when all items in the auction have closed. Bidders are responsible for checking their email to receive notification that they have won a lot(s).  Auction company employees and/or Auction Company may bid on auction for absentee bidders or at the direction of interested and approved bidders who refuse to create an online account but desire to bid at the auction.

EXTENDED BIDDING
This auction features EXTENDED BIDDING. Any lot that receives a bid within 60 seconds of its Scheduled Closing Time will automatically have the clock extended on that lot for an addition 60 seconds and that lot shall remain open for bids past its normal close.  The extension provision for that lot will continue until there is no additional bidding for 60 seconds.

MAXIMUM OR “MAX” BIDS:
Internet bidders who desire to make certain their bids are acknowledged should use the internet bidding feature and leave their maximum bid. When you bid your max, the current bid price does not automatically go to your max bid.  There must be another bid to increase the current price and the computer will automatically bid up to your max in the preset bid increments.  Max bids are taken in the order of date and time placed.

BROWSER INFORMATION:
Google Chrome and Mozilla Firefox is the preferred Internet Browser for our bidding platforms. Because Microsoft is phasing out support for Internet Explorer 8, 9 and 10, bidders are more likely to have issues with Internet Explorer when using our website.

TECHNICAL ISSUES:
TECHNICAL SOFTWARE ISSUES: NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR THE AUCTION COMPANY SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. MRA is providing online bidding as a service to Bidder. Bidder acknowledges and understands that this service may or may not function correctly the day of the auction. Under no circumstances shall Bidder have any kind of claim against MRA or anyone else if the internet service fails to work correctly. MRA will not be responsible for any missed bids from any source.

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.

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.

Minimum Bid Deposit:         10% of Bid Amount
Bid Deposits will be accepted in the form of cash, cashiers checks or personal check with a bank letter guaranteeing the amount or a combination of these payment types.  Please make the cashier's check(s) payable to yourself. In the event that you are the high bidder, you will simply endorse the check to Morris Auction Group as a non-refundable bid deposit. In the event you are not the high bidder, your cashier's check will be returned to you, and you may simply deposit it into your account. The high bidder will pay the Bid Deposit upon signing the sales contract at the auction.

Inspection
All inspections must be done prior to the auction date.  Inspection may be done anytime.

No Contingencies
All auction properties are sold in “as is” condition.  No purchase may be contingent on financing or any other contingencies.  Potential buyers are given ample time to inspect properties prior to auction.
Terms and conditions are preset and non-negotiable.

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.

Closing
The successful bidder will sign a real estate sales contract at the auction.  The entire purchase price must be paid by Cashier's or Certified Check, or wired funds at closing. The closing shall take place not later than thirty (30) days after the auction.  Closing attorney for both parties and place of closing is:
   Ray Beliles, Apperson Crump
   6000 Poplar Ave Ste 100
   Memphis, TN 38120

Broker Participation
All licensed real estate brokers are encouraged to participate by bringing your buyers to the auction. A commission will be paid to the licensed and qualified broker whose properly registered buyer is the successful bidder at the auction, and whose buyer purchases the property. Brokers must register their prospective buyer on the required Broker Participation Form (completely filled out and signed). The form may be obtained by calling 901-565-7770. This form must be submitted to Morris Auction Group no later than 24 hours prior to the Auction.

BIDDER REGISTRATION:
In order for us to have enough time to conduct authorizations, it is encouraged that your register and bid early. Waiting till the last minute to register and or become comfortable with the system could negatively affect your bidding. We encourage you to register at least 24 hours in advance of the auction.

In order to better serve our customers, all bidders must provide their name, address, daytime phone number or cell number, credit card information and email address at which they can be contacted. This is to insure good communication between MRA and the bidder throughout any transactions. Each bidder's identity will be verified. Bidding rights are provisional, and if complete verification is not possible, MRA may reject the registration, and bidding activity will be terminated.

BIDDING PROCEDURES:
On-line auctions move quickly!  One item closes every few seconds.  If you are interested in bidding, bid quickly, especially at the close of the bidding time. The bidding software will notify bidders by email when they have been outbid. Bidders may also find out if they have been outbid by refreshing the individual lot information or the entire screen. Due to varying internet connections speed, please place a maximum or “MAX” bid or constantly monitor the auction at close of bidding. Email notifications can be delayed. If you win you will be notified by email. It is recommended that you watch the auction at the extended bidding time session to make sure you are the high bidder.

By placing a bid, you acknowledge that your bid is a legally binding offer to purchase the item property being auctioned. Times shall be of the essence. MRA reserves the right to update, lower bids, withdraw bids or re-catalog items in this auction. Winning high bidders are notified by email when all items in the auction have closed. Bidders are responsible for checking their email to receive notification that they have won a lot(s).  Auction company employees and/or Auction Company may bid on auction for absentee bidders or at the direction of interested and approved bidders who refuse to create an online account but desire to bid at the auction.

EXTENDED BIDDING
This auction features EXTENDED BIDDING. Any lot that receives a bid within 60 seconds of its Scheduled Closing Time will automatically have the clock extended on that lot for an addition 60 seconds and that lot shall remain open for bids past its normal close.  The extension provision for that lot will continue until there is no additional bidding for 60 seconds.

MAXIMUM OR “MAX” BIDS:
Internet bidders who desire to make certain their bids are acknowledged should use the internet bidding feature and leave their maximum bid. When you bid your max, the current bid price does not automatically go to your max bid.  There must be another bid to increase the current price and the computer will automatically bid up to your max in the preset bid increments.  Max bids are taken in the order of date and time placed.

BROWSER INFORMATION:
Google Chrome and Mozilla Firefox is the preferred Internet Browser for our bidding platforms. Because Microsoft is phasing out support for Internet Explorer 8, 9 and 10, bidders are more likely to have issues with Internet Explorer when using our website.

TECHNICAL ISSUES:
TECHNICAL SOFTWARE ISSUES: NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR THE AUCTION COMPANY SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. MRA is providing online bidding as a service to Bidder. Bidder acknowledges and understands that this service may or may not function correctly the day of the auction. Under no circumstances shall Bidder have any kind of claim against MRA or anyone else if the internet service fails to work correctly. MRA will not be responsible for any missed bids from any source.

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.

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.

Who May Attend This Auction:
This is a PUBLIC ONLINE AUCTION and everyone is invited to register, bid and buy at this auction. There is no cost to register and bid. All bidders are required to enter a valid credit card to register. We do NOT automatically charge your credit card so please be prepared to pay for your items when you pick them up.

Online Auction:
This is an ONLINE ONLY auction. NO live bidding will be held onsite.

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.

Sales Contract
Once the auction is closed, the winning bidder will be required to sign the Sales Contract via email.  The total Purchase Price will be the high bid plus the Buyer’s Premium.  A non-refundable Bid Deposit must accompany the Sales Contract to make the contract binding.

Bid Deposit:         10% of Bid Amount
Bid Deposits will be accepted in the form of cash, cashiers checks or personal check with a bank letter guaranteeing the amount or a combination of these payment types.

Closing
Once the successful bidder has signed the sales contract and paid the Bid Deposit, then the remaining purchase price must be paid by Cashier's or Certified Check, or wired funds at closing. The closing shall take place not later than thirty (30) days after the auction as per the sale contract. 
  
Broker Participation
All licensed real estate brokers are encouraged to participate by bringing your buyers to the auction. A commission will be paid to the licensed and qualified broker whose properly registered buyer is the successful bidder at the auction, and whose buyer purchases the property. Brokers must register their prospective buyer on the required Broker Participation Form (completely filled out and signed). The form may be obtained by calling 901-565-7770. This form must be submitted to Morris Auction

Bidding Procedures:
If you are interested in bidding, bid quickly, especially at the close of the bidding time. The bidding software will notify bidders by email when they have been outbid. Bidders may also find out if they have been outbid by refreshing the individual lot information or the entire screen. Due to varying internet connections speed, please place a maximum or “MAX” bid or constantly monitor the auction at close of bidding. Email notifications can be delayed. If you win you will be notified by email. It is recommended that you watch the auction at the extended bidding time session to make sure you are the high bidder.

By placing a bid, you acknowledge that your bid is a legally binding offer to purchase the property being auctioned. Times shall be of the essence. MRA reserves the right to update, lower bids, withdraw bids or re-catalog items in this auction. Winning high bidders are notified by email when all items in the auction have closed. Bidders are responsible for checking their email to receive notification that they have won a lot(s). Auction company employees and/or Auction Company may bid on auction for absentee bidders or at the direction of interested and approved bidders who refuse to create an online account but desire to bid at the auction.

Extended Bidding:
This auction features EXTENDED BIDDING. Any lot that receives a bid within 5 minutes of its Scheduled Closing Time will automatically have the clock extended on that lot for an addition 5 minute and that lot shall remain open for bids past its normal close. The extension provision for that lot will continue until there is no additional bidding.

Maximum or “MAX” BIDS:
Internet bidders who desire to make certain their bids are acknowledged should use the internet bidding feature and leave their maximum bid. When you bid your max, the current bid price does not automatically go to your max bid. There must be another bid to increase the current price and the computer will automatically bid up to your max in the preset bid increments. Max bids are taken in the order of date and time placed.

Browser Information:
Google Chrome and Mozilla Firefox is the preferred Internet Browser for our bidding platforms. Because Microsoft is phasing out support for Internet Explorer 8, 9 and 10, bidders are more likely to have issues with Internet Explorer when using our website.

No Warranties:
All auction properties are sold in “as is, where is” condition. Seller makes no warranty as to the condition or the specific usefulness of any item sold. There are no refunds or exchanges.

Inspection:
Property should be inspected must be made prior to the auction date. Inspection Dates are published on our website.

Disclaimer:
Morris Realty & Auction has attempted to provide accurate descriptions of all items, however, it is the bidder’s responsibility to determine the condition and suitability of each lot. Printed statements or descriptions by Morris Realty & Auction’s staff are provided in good faith and are matters of opinion. All lots sell as is, with all faults. Morris Realty & Auction and the seller do not give or make any type of guarantee or warranty regarding the lots to be sold, implied or otherwise.
Technology: Morris Realty & Auction is not responsible for any technical problems that you experience while bidding that are beyond our control such as Internet connection or computer.

Default of Buyers:
Successful bidder not paying for items at the end of the auction will be considered in default. Such default by the Successful Bidder will result in that Bidder’s liability to both the Seller and Auction Company. Seller shall have the right to (a) declare this contractual agreement cancelled and recover full damage for its breach, (b) to elect to affirm this contractual agreement and enforce its specific performance or (c) Seller can resell the items either publicly or privately with Morris Realty & Auction and in such an event, the Buyer shall be liable for payment of any deficiency realized from the second sale plus all costs, including, but not limited to the holding/transporting/storage costs of the items, the expenses of both sales, legal and incidental damages of both the Seller and Morris Realty & Auction. In addition, Morris Realty & Auction reserves the right to recover any damages separately from the breach of the Buyer. The purchaser agrees to pay all reasonable attorney fees and costs incurred by Morris Realty & Auction, Inc. in the collection of funds. Morris Realty & Auction reserves the right to refuse bidding privileges to any person(s).

Hold Harmless:
Buyer and or bidder agrees that Morris Realty & Auction is a representative of the Seller and agrees to hold harmless and indemnify Morris Realty & Auction and its Agents, Owner, Directors, Employees and its Representatives from any and all claims, demands, expenses, damages which bidder/buyer may claim on account of or any way growing out of said auction and to look solely to the Seller for any remedy demanded.
Bidder Information and Security: All registration information the bidder provides to Morris Realty & Auction shall be current, complete, and accurate. All bidders are responsible for any bids placed under their bidding numbers and passwords. The security of bidder information is the responsibility of the bidder. Bidders must notify Morris Realty & Auction if they believe that their bidder number and password have been compromised believed to be correct, but is not guaranteed.

Information is SUBJECT TO CHANGE:
Announcements in the form of updated terms posted on the website will take precedence over any prior viewed terms at registrations, previously material or any other oral statements made. Please view the terms periodically for any changes.