Terms - Real Property

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    TERMS AND CONDITIONS FOR REAL PROPERTY AUCTION SALES

     

    All real property will be sold without any stated or implied warranty of condition of real property or representation that there is a house or any other building or structure erected upon it. It will be the responsibility of the bidder to verify that any improvements such as utilities are in place. Bidders are strongly encouraged to research each parcel before submitting a bid. Information on each parcel is available from the Tax Assessor's Office, 800 2nd Ave. N (tax history & maps) and the Register of Deeds Office, Gaylord Entertainment Center, Suite 501  Nashville, Tennessee 37201 (title search) as well as other sources. The purchaser shall be liable for payment of taxes assessed against the property. Item information is intended to provide general information only and should not be relied upon as legal advice. Consult an attorney regarding legal questions and/or any changes in the laws of the State of Tennessee governing the sale of real property.

     

    By submitting a bid on real property, each Bidder attests to the following:

     

    Bidder/ Purchaser must be registered, and in good standing with the Metro.

     

    Bidder/ Purchaser must be of legal age (18 years old) to submit a bid and enter into a contract with Metro.

     

    Registration on eBid Nashville requires a Visa , MasterCard, American Express, or Discover to verify account information. A valid credit card number must be entered. The credit card information is used to verify name, address, and other information provided during the eBid Nashville registration process. Credit card information is only used as a form of identity and account verification when registering. Your privacy is very important to us. The transfer of the financial information is protected by a secure 128-bit encrypted SSL connection. Depending on the credit card company, a temporary $1 charge may appear on your statement. This charge will be removed, and your credit rating will not be affected by the verification process. The personal credit card information you provide for registration purposes is not retained or stored by eBid Nashville.

     

    Metro reserves the right, at its absolute discretion, to reject any and/or all bids considered as not in its best interest. Metro also reserves the right to withdraw an item at any time – including during, or after the bidding process.

     

    Upon registration, a one dollar verification fee may appear on your bank statement as pending. You will not be charged to register. The verification fee will drop from your statement in 3 -7 business days depending on your financial institution.

     

    Metro reserves the right, at its absolute discretion, to rescind an award when Metro determines that such award was made in error or as the result of technical problems with the electronic process. Metro Government has the right to re-post any auction (open/closed) due to technical problems with the electronic process for a time period not less than 24 hours.

     

    The measure of Metro’s liability, in any case where liability of Metro to the Buyer has been established, shall not exceed refund of such portion of the purchase price as received by Metro.

     

    No online payments will be accepted for any real property.

     

    Metro reserves the right to refuse any and all bids.

     

    All payments must be in the form of a Cashier’s Check made payable to:
    The Metropolitan Government of Nashville and Davidson County

     

    Metro requires a “good faith” deposit (Cashier’s Check) in the amount of 10% of the winning bid. This deposit must be received by the Division of Real Property Services no later than the close of business on the 5th business day after the bid has been awarded.

     

    Upon receipt of the Good Faith Deposit, Metro will furnish to Buyer an Agreement of Sale, specifying:

    The Property Address
    Map/Parcel Number
    Contract Price
    Amount and date of Good Faith Deposit made
    Closing Date for transfer of Quitclaim Deed
     Failure to comply with winning bidder’s obligations as set forth in these Special Terms and Conditions will result in an assessment of all associated expenses including, but not limited to, advertising and legal fees for the collection of same.

     

    The winning bidder will have 30 days from the date that the Good Faith Deposit is received and the Agreement of Sale is signed to close the purchase of this property. Failure to close within the specified time without prior written approval by Real Property Services & Metro Legal Department, may, at the option of the Seller, void any agreement between Metro (the Seller) and the winning bidder ( the Buyer) and any good faith deposit will be forfeited.

     

    Property will be conveyed by Quitclaim Deed.

     

    The conveyance is subject to any and all existing easements, sanitary sewer, including utility or other easement, whether or not recorded as a public record.

     

    The completion of a form 8300 is required by the Internal Revenue Service if a payment is made in the amount of $10,000.00 or more by check.

     

    Bidder is not an employee of Metro that has any direct involvement with the disposition of Metro surplus property, nor is the bidder the supervisor of such an employee or a person living in either such an employee's or supervisor's household. Bidder is not an employee of Metro that has personal or first-hand information regarding the condition of any item available for auction on the eBid Nashville site, nor is the bidder the supervisor of such an employee or a person living in either such an employee's or supervisor's household. Personal or first-hand information includes knowledge of an item's condition beyond that acquired through the same pre-bid inspection or research available to the general public.  All other Metro employees are eligible to bid on eBid Nashville auction items.

     

    Bidders may be barred from participation in Metro sales for any of the following:

    Failure to observe these Terms and Conditions
    Failure to make good and timely payment for the item(s) awarded.
    Failure to claim purchases.
    Intentional disruption of the auction process.

     

    Registered users may be disabled from participation in Metro sales for any of the following:

    Suspicious registration information.
    Re-registration under an assumed name or entity
    Inaccurate or fraudulent registration information.

     

    These Terms and Conditions may change at any time without notification. Some auctions will have additional special instructions located on each item's bid page.  These are additional terms and conditions with which bidders agree to comply.

     

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