Annesdale Mansion

Minimum Bid Deposit:         10% of Bid Amount
Bid Deposits will be accepted in the form of bank wire or cashiers check.  The high bidder will pay the non-refundable Bid Deposit upon signing the sales contract after the auction.

Inspection
Please call to make arrangements for a property tour.  You may be requested to provide proof of funds prior to be permission to tour.

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 a buyer 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:
This auction will be online up to the auction date/time posted. On that date/time, the online auction will convert to a live auction webcast auction where bidders may bid online or live to the auctioneer.

To qualify to register to bid in person, you must bring a cashier's check in the amount of $100,000.00 made payable to yourself.  If you are the winning bidder, you will pay 10% of your bid as a non-refundable bid deposit of which the cashier's check may be a part of.  The balance must be wired on auction day.

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, or withdraw bids in this auction. Winning bidder will be notified by phone or email when the auction has closed.

Closing
The successful bidder  agrees to sign the real estate sales contract just after the auction and to wire the non-refundable Bid Deposit that day.  The remainder of the purchase price must be paid by wired funds at closing. The closing shall take place not later than thirty (30) days after the auction.

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.