ANNOUNCEMENTS AND RULES OF SALE

 1.    THIS IS A SALE BY VIRTUE OF FINDINGS OF THE HOPKINS CIRCUIT COURT. THIS IS NOT A TYPICAL AUCTION, BUT IS A COURT ORDERED SALE WITH UNIQUE PROVISIONS AND THIS PROPERTY IS BEING SOLD PURSUANT TO COURT ORDERS.

2.    IF YOU ARE THE SUCCESSFUL BIDDER, YOU MUST PAY ONE OF THE FOLLOWING TWO WAYS:

a.    A CHECK FROM A LOCAL BANK FOR THE FULL BID PRICE ON THE DAY OF SALE; OR

b.    YOU MUST PAY A DEPOSIT OF 10% OF THE BID PRICE AND A SURETY MUST SIGN AS A GUARANTOR FOR THE REMAINING 90% WHICH ACCRUES INTEREST FROM THE DATE OF SALE AT A RATE OF INTEREST ORDERED BY THE COURT AND MUST BE PAID WITHIN 30 DAYS OF THE DATE OF THE SALE.

3.    THE PROPERTY IS BEING SOLD IN ITS CURRENT CONDITION “AS IS”.

4.    YOU SHOULD GET INSURANCE ON THE DATE OF SALE IF YOU ARE THE SUCCESSFUL BIDDER.

5.    IF THE PROPERTY DOES NOT SELL IN EXCESS OF 2/3 OF THE APPRAISED VALUE THERE IS A CLOUD ON THE TITLE.  THERE IS EQUITY REDEMPTION FOR 6 MONTHS AFTER THE SALE IS CONDUCTED, IF IT DOES NOT BRING 2/3 OF THE APPRAISAL VALUE.

6.    BUYER WILL BE RESPONSIBLE FOR THIS YEAR’S PROPERTY TAXES. THERE IS NO PRORATION OF PROPERTY TAXES 

7.    THE COMMISSIONER’S DEED WILL BE READY IN ABOUT 3 WEEKS.

8.    THE MASTER COMMISSIONER HAS NOT DONE A TITLE EXAMINATION ON THE PROPERTY; THE MASTER COMMISSIONER RECOMMENDS THAT YOU SHOULD HAVE YOUR OWN ATTORNEY DO A TITLE EXAMINATION WITHIN 10 DAYS OF THE SALE.