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DTSTART;TZID=America/New_York:20221213T180000
DTEND;TZID=America/New_York:20221213T235900
DTSTAMP:20260530T162123
CREATED:20221118T200454Z
LAST-MODIFIED:20221213T152952Z
UID:10000512-1670954400-1670975940@www.soldoncompass.com
SUMMARY:1720 King Cir.\, Maryville TN Commercial Office Bldg and Lot
DESCRIPTION: Office Building and Additional Lot\n			 \n				\n				\n				\n			\n			 \n				\n				\n			 \n				\n				\n				\n				\n				Online Bidding and Bidder Registration Portal\n			\n				\n				\n				PRIME LOCATIONCommercial/Office space with additional lot in Maryville\, Tennessee. \n3\,000+/- sq ft. buildingLot 31R1 is .38+/- acreLot 31R2 is .38+/- acre \nONLINE ONLY INTERNET BIDDING:Bidding Opens: November 23\, 2022 @ 1pm ET/12pm CTBidding Ends: December 13\, 2022 @ 6pm ET/5pm CT \nOPEN HOUSE/PREVIEWThursday\, December 8th\, 2:00pm-4:00pm ETMonday\, December 12th\, 10:00am-12:00pm ET \n  \n			 \n			 \n				\n				\n			 \n				\n				\n			 \n				\n				\n				\n				\n					\n				\n				\n				\n				\n				\n				\n				Special Stipulation: Pre-Determined Lease Agreement (2 parts\, up to 24 months) Following the purchase of this property\, the buyer will enter into a 12 month lease agreement with Blount County to remain in the premises. This lease agreement is valued at $4\,000 a month\, or $48\,000 for the lease agreement. While bidding\, take into consideration that there will be no lease payments during the first period (12 months)\, so bids should be factored in accordingly. Blount County would assume the cost for all electricity\, water\, fiber\, etc. for the duration of occupancy as detailed in the lease agreement. Second part of the lease agreement will be done on a month to month basis (not to exceed 12 months) at $4\,000 a month with all electricity\, water\, fiber\, etc cost assumed by the county.  \n **Official Lease Agreement to be finalized between the buyer and Blount County\, before the closing date. Lease agreement would then be fully executed at closing** \n Each bid constitutes and offer on the property. The auction is subject to owners acceptance and confirmation of offer. Closing date will be with Blount Title on or before 1/13/23. $20\,000 earnest money deposit will be due to Blount Title within 24 hours of auction. \n ***Compass Auctions & Real Estate LLC does not assume any responsibility or involvement in the language or perfection of the lease agreement*** \nNot an NNN lease. \n**CRS Tax data shows this property is on public sewer\, however\, currently it is on septic. Sewer is scheduled for the area in the near future** \n*Property is located in Blount County* \n			 \n				\n				\n				\n					Docs and LinksProperty Info PIPBroker Participation Form\n				\n				\n					\n				\n				\n				[et_bloom_locked optin_id=”optin_2″] \nALL DOCS: \nProperty Info Packet  \nBroker Participation Agreement \nOnline Bidding and Bidder Registration Link \nQuestions: 423.702.6287 or realestate@soldoncompass.com \n  \n  [/et_bloom_locked] \n			 \n				\n				\n				PROPERTY INFORMATION PACKET LINK \n  \n\n			 \n				\n				\n				We love working with both buyers and sellers brokers. \nBrokers Please Note All Details Below. \n\nBroker Participation Form must be completed using the Compass Auctions participation form.\nBroker Participation is available: 2%\nBrokers MUST submit the Compass Broker Participation form by the following deadline and attach the Exclusive Buyer Representation Agreement to the form.\nBrokers this form is to entitle you for the commission offered. Please ensure that your client completes the auction bidder registration steps to bid in this auction. Brokers should not register and bid on behalf of their clients without a Power of Attorney stating they have the legal right\, power and agreement to do so. The registered auction bidder is the party financially responsible for closing on the property.\n\nDEADLINE: Monday December 12\, 2022 @ 3:00pm ET. \n**Forms received after this date and time will not be eligible for the broker commission ** \nWe highly recommend that you (broker) submit the participation form and have your client complete the auction registration and deposit 48 hours in advance of the auction to ensure bidder approval. \nNeed Assistance: 800.729.6466 or info@soldoncompass.com \nCompass office hours: M-F 8am-5pm EST \nBROKER PARTICIPATION FORM LINK \nBrokers: There is a 10% buyers premium for this auction. The successful bidder will be expected to present $20\,000.00 earnest money deposit within 24 hours of the auction. A contract will be sent following the auction to the seller for e-signature. Should you have any questions please contact us. We look forward to working with you. \n			 \n				 \n			 \n			 \n				\n				\n			 \n				\n				\n				\n				\n				Online Bidding and Bidder Registration Portal\n			\n				\n				\n				\n				\n			\n				\n				\n				 \nIMAGE GALLERY \n			 \n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n					\n					\n					\n				\n				\n				\n				\n				\n				\n				\n				What Are The Steps To Register\n				We highly recommend that you complete all necessary bidding registration requirements 48 hours prior to the auction to ensure that you are approved to bid. \nBIDDER/BUYER REGISTRATION STEPS:You can also view the tutorial below this section for assistance. \n\nClick the online bidder registration link.\nComplete the registration requirements in the online bidding platform.\nBidders will be placed in pending status until the auction office verifies bidder information and approves bidder to bid.\nBidder approval is verified Monday – Friday 8am-5pm EST or during active auctions only.\n\nBROKERS: \n\nSubmit the Compass broker participation agreement. (This agreement must be completed prior to the deadline to be eligible for the broker commission)Broker Participation Form\nThe broker participation form does NOT register your client to bid.\nEnsure that your client completes the auction registration and submits the bidder deposit (if required).\nBrokers should not register and bid on behalf of their clients without a Power of Attorney stating they have the legal right\, power and agreement to do so. The registered auction bidder is the party financially responsible for closing on the property.\n\nAll links and documents can be found in the Tabbed section above. \nWe highly recommend that registration for buyers and for brokers be completed at least 48 hours in advance of the auction to ensure buyer approvals are processed. \nFor an instructional guide on completing the online bidding registration here is a brief video explaining the steps. \n  \n			 \n				\n				\n				Bidder Deposit\n				Bidder Deposit: A $100.00 hold is automatically placed on the bidders credit card used during registration.Deposits may also be submitted by bankwire or certified funds. \nBidder deposits are fully refunded to all Non-Winning Bidders  \n			 \n				\n				\n				Broker Participation\n				We welcome broker participation.  \nThere area few steps that brokers will need to complete in order to earn a participation percentage. \nBrokers will need to complete a broker participation form 48 hours prior to the date of auction.  \n**Deadline for submitting broker participation agreement is stated in the broker participation area of the tabbed information section.  \n\nHave your clients complete the online bidding registration steps and submit the bidder deposit.\nComplete broker participation form and attach your buyer representation agreement.\nForms submitted after the deadline will not be eligible for the buyer broker commission.\nBrokers should not register and bid on behalf of their clients without a Power of Attorney stating they have the legal right\, power and agreement to do so. The registered auction bidder is the party financially responsible for closing on the property.\n\n  \n			 \n				\n				\n				Financing\n				Question: Not contingent on financing. What does this mean? \nAnswer: Buyers need to have their financing in place with a letter of approval from their lender or cash. \nWhen not contingent on financing a buyer is expected to be financially capable of closing on the property within the established closing date. Should a buyer not have the funds to close they would risk losing their earnest money deposit. Additionally\, bidding in the auction constitutues an offer and acceptance of the bid becomes a contractual duty which may have legal implications. \nBuyers are free to seek their financing any way they choose from whatever institution or organization they decide. \nThe sale of the real estate is not contingent on any type of buyers financal approval\, appraisals or inspections. Buyers need to be prepared and feel confident in their ability to bid and close as expected and stated in the terms and conditions. \nThe process is generally the same as if you entered into a traditional offer and contract scenario which would have the same expectations.  \n			 \n				\n				\n				Inspection\n				Question: Not contingent on inspection. What does this mean? \nIn short the property sales “As Is”. \nA buyer can certainly hire a professional inspector to perform an inspection. This is done prior to the auction so that a buyer who has any question can feel confident in their bidding. Many buyers decide whether they want to have a professional inspection which is at the buyers expense. Even if a buyer pays to have an inspection performed this in no way guarantees that they will be the winning bidder on the property so each individual has to determine if they want to incur this expense. \nInspections can also be performed after the auction\, however\, there will be no negotiation of price and the sale is not contingent on the outcome of an inspection and in no way voids the contract. The final hammer price and buyers premium will be the contract price. \nNot all properties allow for an inspection depending on the sellers directive ex: foreclosure\, confiscated properties\, tax sale\, government owned etc. \nIf an inspection is available and you would like to have an inpection performed prior to auction contact us to determine if a scheduled time is available for your inspector \n800.729.6466 or info@soldoncompass.com  \n			 \n				\n				\n				Buyers Premium\n				Question: What is a buyers premium? \nThe buyer premium is the percentage or amount that will be added to the final hammer price to form the full contracted amount. \nExample: 10% buyers premium \nReal Estate hammer price: $100\,000.00Buyers Premium: 10%Final Contract Price = $110\,000.00 \nThe final contract price will be the sale price of the real estate and what the buyer will pay for the property.  \n			 \n				\n				\n				Earnest Money Deposit\n				If you are the winning bidder the earnest money deposit indicated in the auction is required within 24 hours from the close of the auction. \nEarnest Money can be paid via bank wire or certified funds. \nThe earnest money deposit will be held in an escrow account and applied toward the final closing cost.  \n			 \n				\n				\n				Buyer Contract\n				Buyer will be contacted following the auction in order to obtain all pertinent information for the purchase agreement. This contract will be sent via e-signature software.  \n			 \n				\n				\n				How Do I Prepare For This Auction\n				Check out the topics in the FAQ section of the website for information that will help guide you through the registration and bidding process. \nFor those individuals who have never participated in auction we want to make you feel comfortable and assist you in every way possible. \nThe first lot in every auction is a test bidding lot that allows you to test drive the system so that you become familiar with the way it all works. All bids in the test bidding lot will be deleted. \nIf at anytime you have questions please feel free to contact our office. \nMonday – Friday 8am-5pm EST.800.729.6466Email – info@soldoncompass.com \nIt’s our pleasure to assist you!  \n			 \n				\n				\n				Why Choose To Sell At Auction?\n				Why would someone choose to sell real estate at auction? \n\nAnswer:The finest assets in the world are most ofter sold using the auction method.\nAuction provides the most transparent method. Bidders can see at anytime what the bid amount is and choose if they want to bid more.\nAllows for competitive bidding. In such a competitive real estate market buyers have become frustrated because they are unable to secure their dream home even when offering well above the asking price.The auction method allows for buyers to compete for their dream home.\nIn a traditional listing a seller can only counter 1 buyer offer. In an auction each buyer has the ability to up their bid in an effort to be the winning bidder for the real estate.\nBuyer must have their funds secured prior to bidding in the auction. The sale of the property is not contingent on buyer financing.\nThe property sales as is. Buyers have the opportunity to inspect the property prior to auction and have a professional inspection done\, however\, the sale of the property is not contingent on inspection and is a true as is sale. So the seller does not have the hassle of back and forth negotiation.\nThe seller has more control over the buyer viewing process and reduces the disruption in their day to day lives. They know when the open houses are and can schedule their day.\nSeller knows the exact day and time that their property will sale.\n \n			 \n				\n				\n				Top Common Myths About Real Estate Auctions\n				MYTH: The property must be distressed.FACT: Absolutely incorrect. Many people have the notion that if a property is selling at auction that it must have been distressed in some manner. When in fact auction is fast becoming a highly preferred method of selling real estate. Afterall\, some of the most desirable assets in the world are sold using the auction method. Why should real estate be any different? The auction method is used for selling many types of real estate many sellers are discovering that the auction method provides less hassle\, less carrying costs\, there are no expensive updates and often costs them far less in sellers fees\, less holding and carrying cost\, is more transparent and allows for competitive bidding to take place\, especially during an aggressive real estate market when buyers must compete to purchase the property they desire. Sellers have more control over the entire process and are better able to plan for their future. \nKey points: \n\nSellers have more control.\nLess disruption in their daily lives\nKnow the exact day their property will sell.\nCompetitive bidding allows for property to sell at top dollar. There is no ceiling to the value a property can achieve.\nBidders must have their finances in order prior to bidding.\nTruly sales As Is. There are no contingencies.\nEliminates stressful back and forth negotiation which equals less hassle for the seller.\nProcess is truly transparent and allows for bidders to compete openly.\n\nMYTH: Buying a property at auction means I can’t view or inspect it.FACT: We actually encourage buyers to view and inspect the property. In most cases buyers can attend open houses\, schedule special showings\, hire professional inspection services etc. There are some cases that this isn’t available for example legal conditions that limit this option. As we have all experienced potential restrictions on physically viewing the property due to COVID. In circumstances such as this we try to offer virtual experiences\, images\, videos\, and virtual tours. Providing alternative resources for buyers to view and obtain information about the property. \nMYTH: Fear that property will sell for $1. or sellers have to sell regardless of price.FACT: Ask yourself\, when was the last time that you heard of a desirable property selling for a dollar? In real life you probably have never experienced this scenario. When in fact the initial auction decision process closely resembles the steps in a traditional sale process. A professional auctioneer will meet with a seller and perform many of the same steps that would be done when selling traditionally. Many auctioneers are also licensed real estate brokers and will use a competitive market analysis to assist the seller in setting a realistic market goal and arriving a sellers reserve price. This approach is called a reserve auction. In a reserve auction the seller has the ability to set a reserve price at which they will accept\, the price is set before the auction.In an absolute auction the seller agrees to sale the property for the last and highest bid. Another words this property is absolutely going to sale. Sellers will choose this option for many reasons. Generally\, an absolute auction when properly marketed by a professional auction company will realize the highest bid price\, simply because bidders know that the property is going to be sold for the final bid. Competitive bidding for these properties is usually fierce as buyers\, investors\, and entities go all in to be the winning bidder. \nMYTH: Selling real estate at auction is the last resort.FACT: False. Record prices are set on a regular occurrence using the auction method. Art\, collectibles\, automobiles\, coins\, and jewelry are just a few examples of how utilizing the auction method achieves the highest and best price often setting the market standard. In fact\, real estate transactions can achieve much higher prices at auction than through the traditional sales approach. The auction method implements true competitive bidding and the most transparent way for buyers to compete for the property. Even the traditional sales method offered today by some brokers ask for highest and best offers\, but they seller can only counter 1 offer out of multiples. The auction approach allows for all offers to be countered immediately to everyone. \nMYTH: Auctioneers compete against traditional real estate brokers.FACT: Real estate auctioneers are strong advocates for working with brokers and their clients. Working together brings a new level of service to a brokers toolkit that they can offer to their clients. Agents work with clients everyday that would be a perfect fit for an auction scenario and utilizing a professional company to offer the benefits of the auction method can be hugely successful for everyone involved. Afterall\, we are all working in the best interest of our clients in order to obtain the best results possible. Our real estate auction program can offer agents the ability to charge their clients less commission but still make a full commission for both the selling broker and buyers broker. Brokers\, have a client that would be a great fit. Lets talk: 800.729.6466 or realestate@soldoncompass.com. \nThe auction method offers sellers a great option for selling their real estate and allows buyers to have a fair and transparent method of buying real estate. \nMuch of these myths and others originated during the great depression and times of severe economic crises. Many of these myths and notions are relics of the past. The auction method within the industry today is thriving and has evolved into an exceptional model for real estate transactions. \nReady To Sell And Need More Information? \nContact Us:800.729.6466 | Main Office423.702.6180  | Chattanooga Local  \n			 \n			 \n				Online Bidding and Bidder Registration Portal
URL:https://www.soldoncompass.com/auction/1720-kings-cir-maryville-tn-commercial-office-bldg-and-lot/
LOCATION:1720 Kings Circle Maryville\, TN\, 1720 Kings Circle\, Maryville\, TN\, 37801\, United States
CATEGORIES:Auctions,past auctions
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ORGANIZER;CN="Compass%20Auctions-Contact":MAILTO:info@soldoncompass.com
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X-APPLE-STRUCTURED-LOCATION;VALUE=URI;X-ADDRESS=1720 Kings Circle Maryville TN 1720 Kings Circle Maryville TN 37801 United States;X-APPLE-RADIUS=500;X-TITLE=1720 Kings Circle:geo:-83.9677314,35.7597155
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