Divided into 8 Tracts Located in the Sharp`s Chapel Community

Divided into 8 Tracts • Located in the Sharp’s Chapel Community, Union Co. TN
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The Estate of Fred Davis, Late
Auctioneer’s Note: We have been in the auction business for 44 years with a strict company policy guided with the spirit of disclosure and
fairness to both sellers and buyers. Mrs. Jessie Davis absolutely is going to pass title to the high bidder (or bidders) through this auction. The
final bid(s) will be subject to a “Right of Refusal” contract between Fred Davis and Rufus Smith, President of Southland Group, Inc., as recorded
in the Register of Deeds Office, Union County, Tennessee (Book Mis 21, pages 544-5). Contact Gary Rutherford (865-414-4049)
for more information.
Fred Davis and Rufus Smith not only were adjacent landowners, but good friends, and entered into this agreement in 2004. We do not know if
Southland will exercise its right of refusal. However, Southland representatives will be present at the sale and will state their intention to buy or
pass on their right at the conclusion of the bidding. This is how Fred Davis wanted the sale to be conducted, as we are happy to honor
this contract.
TRACTS 1-5
Please help Mrs. Davis and yourself by participating in this auction. Norris Lake property of this quality and beauty rarely becomes available,
especially in tracts this size. Bid all that you can! Do not bid more than you want to pay!
This will be an exciting, interesting, and educational auction event, and we will know who the new owner(s) will be the day of the sale. Plan
now to attend!
Terms and Conditions
Auction Sale: All property is auctioned “AS IS, WHERE IS” with all faults
in its condition at the time of sale without recourse by way of refund,
reduction of the purchase, price, or otherwise. Bidders should perform such
independent investigation with respect to the property as they deem necessary
or appropriate.
Financing: Your bidding and purchase of the property is not conditional upon
financing. Be sure you have arranged financing, if needed, and are capable
of paying cash at closing. The balance due at closing within 30 days, will be
evidenced by signing a promissory note along with the sale contract.
Liability: Bidders inspecting property enter at their own risk. Seller and
Auction Company assume no risk for bodily injury or damage to personal
property.
Buyer’s Premium: The Buyer’s Premium on real estate is 6% of the high
bid. The Buyer’s Premium will be added to the high bid to determine the final
sale price.
Real Estate Deposit: A deposit in the amount of ten percent (10%) of the
contract sale price plus 6% Buyer’s premium will be required on the day of
the sale. The deposit is payable by cashier’s check or pre-approved personal
check to East Tennessee Realty and Auction Escrow Account. Personal checks
will be approved if the Buyer presents, at time of registration, a letter from
its bank stating that the Buyer is a customer of the bank and that the account
on which the check is drawn is in good standing. The balance of the purchase
price is due at settlement within 30 days.
Real Estate Deed: The real estate will be conveyed by a special warranty
deed free and clear of liens, subject, however, to any rights of way, easements,
restriction of record if and recorded first right of refusal as recorded in Misc.
Book 21 pages, pages 544-5, Register of Deeds office of Union County.
General: The information contained in this brochure is subject to verification
by all parties relying on it. No liability for its accuracy, error, or omissions is
assumed by the Seller or the Auction Company
Announcements: Announcements on day of sale take precedence over all
prior releases, verbal and written, concerning this auction sale.
TRACTS 6-8
Divided into 8 Tracts
Located in the Sharp’s Chapel
Community, Union Co. TN
S AT U R D AY • J U LY 1 3
10:00am
The Estate of Fred Davis, Late
AUCTION
Divided into 8 Tracts Located in the Sharp’s Chapel Community, Union Co. TN
Selling one of the premier and last remaining undeveloped lake front boundaries on Norris Lake. This beautiful
property is surveyed and divided into 8 large acreage tracts, each having gently sloping Norris Lake frontage.
The lakefront tracts will be sold individually, then offered in combinations or in the entirety - your choice
as a buyer.
Each of the 8 tracts are flagged and numbered with survey plats available on the property. Your inspection
is encouraged before sale time.
Fred Davis’s father acquired this fantastic lake front property approximately 70 years ago from TVA, and held
it in family ownership since then. Sale of the property is required now specifically for the care and benefit of
Mrs. Jessie Davis, Fred Davis’s widow. We are going to sell!
Location: From Knoxville, go north on Hwy. 33 through Maynardville, TN, cross 33 bridge, then turn left onto
Sharps Chapel Road. Follow signs approximately 3-1/2 miles - property on left.
Viewing from Norris Lake: From 33 Bridge, go southwest on Norris Lake approximately 1 mile, bear right
(NW) toward Lakeview Marina. Continue through wake zone passing the marina and watch for numbered
lakefront tracts.
Land: The Davis family is among the orignal settlers of beautiful Sharps Chapel and a major landowner in the
area. Property of this caliber rarely becomes available, except through estate sales. The appeal of this property
is highlighted by its direct access from Sharps Chapel Road and its gradual slope to approximately 4,000 feet
frontage on pristine Norris Lake, of which nearly 2,500 feet follow the 1020 contour elevation having possible
dock privileges. (We are expecting TVA correspondence on this matter and will have information available day
of sale.)
Soil Test: Every tract has been tested by soil scientist, Mark Dew (865-898-1097) and is suitable for a residential
building site. The expense of the soil test ($200 per tract) will be added to your purchase of any or all tracts.
Restrictions: To be announced day of sale basically no junk yards and mobile homes.
Tracts 6-8
Tracts 1-5
Fred Davis Property as derived from
TVA Land Sale 70 years ago
“The Lake Frontage will
take your breath away”
To realize the essence of this
statement you must walk to each
corner and then navigate by boat;
look both ways!