AUCTION featuring Large Triplex in Historic District with Beautiful Vintage Architectural Elements

Commercial Auction in 418 E. College Street, Murfreesboro, Tennessee, United States

03 Thursday
03rd December, 2020
Comas Montgomery Realty & Auction Co., Inc.

AUCTION featuring Large Triplex in Historic District with Beautiful Vintage Architectural Elements

Commercial Auction in 418 E. College Street, Murfreesboro Tennessee, United States

Thursday at - 03rd December , 2020

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Notes

Real Estate Terms: On Location Terms: 10% Buyers Premium added to the final bid price to determine final selling price. 10% down day of sale and balance due at closing. Must close on the property within 45 days after the auction. Property information believed to be accurate but not guaranteed. Any house built prior to 1978 may contain lead-based paint. Any prospective buyer has 10 days prior to auction to complete any inspections. Announcements made day of sale take precedence over any previous advertising. Online Terms: 1. Bidding Increments: Each Comas Montgomery Realty and Auction Company Inc. auction may have different bidding increments. The software will calculate the next bid amount before submitting the bid. 2. Agency: Comas Montgomery Realty and Auction Co., Inc., Agents and Representatives are agents of the Seller. 3. Buyer's Premium: There will be a ten percent (10%) Buyer’s Premium added to final bid price to determine the final selling price. 4. Auction Ending: The auctioneer will have sole discretion when to close the bidding for this auction. 5. Time Increase or Decrease: Comas Montgomery Realty and Auction Co., Inc. may increase or decrease the amount of time to place a bid for this auction. 6. Outbid Notification: Bidders will need to watch their bidding screen to determine the current winning bid amount. Absentee bids may receive an email notice if outbid, but not guaranteed. 7. Property Information and Inspection: Comas Montgomery Realty and Auction Co., Inc. is not responsible for any missing or incorrect listing information. Comas Montgomery Realty and Auction Co., Inc. has attempted to provide accurate descriptions. However, it is the bidder's responsibility to conduct any inspections to determine the condition and feasibility of the bidder’s intended use. Descriptions that are provided by Comas Montgomery Realty and Auction Co., Inc. are provided in good faith and are matters of opinion. 8. Auctioneer's Discretion: Comas Montgomery Realty and Auction Co., Inc. has full discretion to modify the date, time, order, and details of the auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and convenience of Comas Montgomery Realty and Auction Co., Inc. or the seller. 9. Server and Software Technical Issues: In the event that there are technical difficulties related to the server, software or any other online auction-related technologies, Comas Montgomery Realty and Auction Co., Inc. reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor Comas Montgomery Realty and Auction Co., Inc. shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Email notifications may be sent to registered bidders with updated information as deemed necessary by Comas Montgomery Realty and Auction Co., Inc. THE ONLY GUARANTEE THAT YOUR BID WILL BE PLACED IS TO BE AT THE ACTUAL LIVE BIDDING EVENT! 10. Terms: ONLINE BUYER: 10% OF THE FINAL BID PRICE REQUIRED as non-refundable earnest money in the form of a certified check, cash or wire transfer within 24 hours of the close of auction (or next business day), with the balance of purchase price due at closing. Purchaser shall be responsible for all wire transfer fees. ON SITE BUYER: 10% OF THE FINAL BID PRICE REQUIRED as non-refundable earnest money IMMEDIATELY AFTER THE CLOSE OF THE AUCTION, with the balance of purchase price due at closing. Closing will be as specified in the Contract for Sale of Real Estate. This online only auction is a CASH SALE not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by Bidder and or Buyers at registration prior to bidding and specified in the Contract for Sale of Real Estate under “files” sections of the webpage. 11. Contract for Sale of Real Estate: ONLINE BUYERS: The contract is required to be fully and correctly completed, WITHOUT any modifications and properly signed within 24 hours of the close of auction. ON SITE BUYERS: The contract is required to be executed immediately after the close of the auction. 12. Closing: As specified in the Auction Day Contract for Sale of Real Estate. 13. Closing Costs: Seller shall pay Seller’s side closing fee and document preparation fee. Buyer shall pay Buyer’s side closing fee and document preparation fee. Seller shall pay no closing costs for Buyer, including any lender's fees or recording fees unless otherwise agreed to in the Contract for Sale of Real Estate. 14. Property Condition: Buyer specifically acknowledges herein that the property is being purchased "AS IS" with all faults and that neither the Seller nor Comas Montgomery Realty and Auction Company, Inc., makes any warranties or representations, express or implied, as to the habitability, condition, square footage, acreage or boundary lines of the real property conveyed herein. Seller is NOT responsible for any repairs. 15. Hold Harmless: Buyer and or Bidder agrees to hold harmless and indemnify Comas Montgomery Realty and Auction Co., Inc. and its Agents, Owners, Directors, Employees and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc. 16. Disputes: Any dispute between Comas Montgomery Realty and Auction Co., Inc., its Agents or Representatives and the Buyer(s) will be tried in a court of jurisdiction in Rutherford County, Tennessee. By bidding on any item, buyer agrees to all terms and conditions set forth. EACH PARTY HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES (TO THE EXTENT PERMITTED BY APPLICABLE LAW) ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY OF ANY DISPUTE ARISING UNDER OR RELATING TO THIS AGREEMENT AND AGREES THAT ANY SUCH DISPUTE SHALL BE TRIED BEFORE A JUDGE SITTING WITHOUT A JURY. 17. Auction Bidder and/or Buyer Default: Successful Bidder and or Buyer not executing and returning the contract with earnest money deposit AS SPECIFIED IN PARAGRAPH 10 AND 11 will be considered in default. In the event a winning Bidder and or Buyer fails to submit the signed Contract for Sale of Real Estate and earnest money deposit, the winning Bidder and or Buyer shall pay to Comas Montgomery Realty and Auction Company, Inc., as damages, an amount equal to the Buyer's premium or commission percentage, as set forth in said Contract, and any and all expenses incurred by the said Comas Montgomery Realty and Auction Company, Inc., for said auction. Should Buyer's earnest money check be returned for any reason whatsoever, this shall constitute an item of default, and in addition to the remedies previously stated hereinabove, Buyer shall also pay an additional penalty of five percent (5%) of the earnest money check to Comas Montgomery Realty and Auction Company, Inc. Buyer shall also pay a reasonable attorney's fee and costs incurred in the collection of these monies owed by Buyer as a result of Buyer's default. Buyer shall also pay the Seller any damages caused by said breach of contract, including attorney's fees and costs. This shall not preclude the Seller from suing for specific performance of the Contract of Sale, in addition to said damages. It is specifically understood and agreed by and between the Seller and Comas Montgomery Realty and Auction Company, Inc., that in the event the Buyer should default in the terms of this Contract in any manner whatsoever, that the earnest money, or sufficient sums therefore, shall be paid first to the agent for the Buyer's premium or commission percentage, and the balance, if any, to the Seller. Any disputes will be tried in a court of jurisdiction in Rutherford County, Tennessee. Comas Montgomery Realty and Auction Co., Inc. reserves the right to sell to the next highest qualified Bidder and or Buyer in the event the successful high Bidder and or Buyer does not comply with the terms of the sale. By bidding on the property, buyer agrees to all terms and conditions set forth. The contract is required to be fully and correctly completed, without any modifications and properly signed. A contract that is incomplete, incorrect, or modified in any respect, by the Bidder and or Buyer, is considered to be in default. 18. Auction Cancellation – Bid Rejection: Comas Montgomery Realty and Auction Co., Inc. reserves the right to reject any and all bids for any reason. Comas Montgomery Realty and Auction Co., Inc. reserves the right to cancel this auction, or remove any item or lot from this auction prior to the close of bidding even if a bid has been placed. 19. Acceptance of Bid Prices: ALL BIDS ARE SUBJECT TO SELLER CONFIRMATION UNLESS NOTED AS ABSOLUTE. The auctioneer and/or Seller shall make the sole and final decision as to the winning high bid amount. Acceptance by the online bidding platform does not necessarily constitute an accepted bid by the auctioneer. Successful Bidder and or Buyer(s) will be required to enter into a purchase agreement immediately following the close of the auction. Comas Montgomery Realty and Auction Co., Inc. will e-mail documents to be executed and fax or e-mail back to Comas Montgomery Realty and Auction Co., Inc. within 24 hours of the end of the auction. Successful Bidder and or Buyers not executing and returning contracts with earnest money deposit within 24 hours will be considered in default. Any and all inspections that a buyer may want must be completed at buyer’s expense prior to the close of the online bidding. Comas Montgomery Realty and Auction Co., Inc., Agents, Representatives or Employees may bid. Comas Montgomery Realty and Auction Co., Inc. reserves the right to sell to the next highest qualified Bidder and or Buyer if the winning Bidder and or Buyer is in default of these terms. Winning Bidder and or Buyer must execute the contract with no changes, modification, add
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Description

AUCTION featuring Large Triplex in Historic District with Beautiful Vintage Architectural Elements

418 E. College St., Murfreesboro, Tennessee


BID NOW ONLINE or ON LOCATION
Thursday, December 3rd, 2020 @ 1:00 PM


Apartment A:
360+/- Sq. Ft. 
Downstairs
Tenant pays $700/month - $700 Deposit
Tenant since 9/3/19
1 Room Efficiency with hardwood floors & 1 fireplace (non-functional)
Small kitchen with stove & refrigerator
Laundry Room shared with Apt. C
Thermostat controlled in Apt. C
1 Bath with shower/tub combo – tiled floor
Refrigerator – New 2018
Stove, Kitchen Counters, Sink – New 2013
New Bath Tile Floor – 2013
New Windows in Kitchen and 1 Side Window in Living Room – 2013 

Apartment B:
1500+/- Sq. Ft. 
Upstairs
Tenant pays $1000/month plus $50 garage rental - $1000 Deposit
Tenant since 12/4/18
2 Bedroom with hardwoods and 3 Fireplaces (non-functional)
Kitchen/ Living Room Combo with Stove, Refrigerator & dishwasher
Utility Room with Washer/Dryer Provided
Huge Landing Area in Stairway
1 Bath with Claw Foot Tub
HVAC – 2013 –  Gas
Refrigerator – New 2018
Stove - 2013
Dishwasher – 2014
Washing Machine – 2017
Kitchen Counters, sink – 2013
Kitchen Laminate Floors –  2013
Windows in Back and Sides – 2013

Apartment C:
1300+/- Sq. Ft.
Downstairs
Original Tenant from 2013 – Pays $830/month - $750 Deposit
1 Bedroom with hardwoods and 2 Fireplaces (non-functional)
Eat-In Kitchen with Stove, Refrigerator & Dishwasher
HVAC system shared with APT. A
Separate Dining Room or Sunroom
Utility Room access from Dining Room - Shared with Apt. A
Living Room with Fireplace/Hardwoods
Spacious Foyer
1 Bath with shower/tub combo
2 Pocket Doors
Walk in Closet
Huge Pantry
Refrigerator – 2013
New Countertop – 2013
Bath Vanity, Bath Tile Floor – 2013

GENERAL INFO:
Large Triplex – Historic District
3,103+/- Sq. Ft. Total
Year Built – 1912
House has 3 separate electric meters - Utilities currently paid by landlord. 

Downstairs apartments share a central HVAC system. 
Could easily unhook the ductwork from Unit A (1 room efficiency unit) and install a PTAC unit and have them pay their electric.
All 3 tenants have been there over a year and now paying 
rent month to month.
Shared Laundry Room for downstairs apartments that can be accessed from the Outside and also from Apartment C
Upstairs Apartment (B) has their own laundry room. 

Landlord provides washer/dryer for both laundry rooms - to remain.
Roof Replaced –  2013
Front Porch Cover – 2015
Repaired outside wall in apt B – 2020
Deposits transfer at closing

OWNER SUPPLIED FINANCIALS:
Gross Monthly Rents: $2,850
Utility Average Thru August: $363.72
Lawncare Monthly Average (May-August): $131.25

Directions to the Property: From Murfreesboro Square take E. Main St. to left on N. Academy to right on E. College St. Look for property on right. 

PREVIEW: Monday, November 30th from 4-5 PM

Referring Agent: Nancy Roark - Century 21 Wright Realty

AUCTIONEER: Carl Montgomery - Lic. #2851
(615) 589-0078
(615) 895-0078


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Location has been calculated by address and may not be 100% accurate.

Auction Items For Sale

AUCTION featuring Large Triplex in Historic District with Beautiful Vintage Architectural Elements

418 E. College St., Murfreesboro, Tennessee

494ae7df2571db149386de472a2627657b3efb74.jpeg


BID NOW ONLINE or ON LOCATION
Thursday, December 3rd, 2020 @ 1:00 PM

efb50c0e3bd507e63f47587406c4005700d63567.jpeg

Apartment A:
360+/- Sq. Ft. 
Downstairs
Tenant pays $700/month - $700 Deposit
Tenant since 9/3/19
1 Room Efficiency with hardwood floors & 1 fireplace (non-functional)
Small kitchen with stove & refrigerator
Laundry Room shared with Apt. C
Thermostat controlled in Apt. C
1 Bath with shower/tub combo – tiled floor
Refrigerator – New 2018
Stove, Kitchen Counters, Sink – New 2013
New Bath Tile Floor – 2013
New Windows in Kitchen and 1 Side Window in Living Room – 2013 

Apartment B:
1500+/- Sq. Ft. 
Upstairs
Tenant pays $1000/month plus $50 garage rental - $1000 Deposit
Tenant since 12/4/18
2 Bedroom with hardwoods and 3 Fireplaces (non-functional)
Kitchen/ Living Room Combo with Stove, Refrigerator & dishwasher
Utility Room with Washer/Dryer Provided
Huge Landing Area in Stairway
1 Bath with Claw Foot Tub
HVAC – 2013 –  Gas
Refrigerator – New 2018
Stove - 2013
Dishwasher – 2014
Washing Machine – 2017
Kitchen Counters, sink – 2013
Kitchen Laminate Floors –  2013
Windows in Back and Sides – 2013

Apartment C:
1300+/- Sq. Ft.
Downstairs
Original Tenant from 2013 – Pays $830/month - $750 Deposit
1 Bedroom with hardwoods and 2 Fireplaces (non-functional)
Eat-In Kitchen with Stove, Refrigerator & Dishwasher
HVAC system shared with APT. A
Separate Dining Room or Sunroom
Utility Room access from Dining Room - Shared with Apt. A
Living Room with Fireplace/Hardwoods
Spacious Foyer
1 Bath with shower/tub combo
2 Pocket Doors
Walk in Closet
Huge Pantry
Refrigerator – 2013
New Countertop – 2013
Bath Vanity, Bath Tile Floor – 2013

GENERAL INFO:
Large Triplex – Historic District
3,103+/- Sq. Ft. Total
Year Built – 1912
House has 3 separate electric meters - Utilities currently paid by landlord. 

Downstairs apartments share a central HVAC system. 
Could easily unhook the ductwork from Unit A (1 room efficiency unit) and install a PTAC unit and have them pay their electric.
All 3 tenants have been there over a year and now paying 
rent month to month.
Shared Laundry Room for downstairs apartments that can be accessed from the Outside and also from Apartment C
Upstairs Apartment (B) has their own laundry room. 

Landlord provides washer/dryer for both laundry rooms - to remain.
Roof Replaced –  2013
Front Porch Cover – 2015
Repaired outside wall in apt B – 2020
Deposits transfer at closing

OWNER SUPPLIED FINANCIALS:
Gross Monthly Rents: $2,850
Utility Average Thru August: $363.72
Lawncare Monthly Average (May-August): $131.25

Directions to the Property: From Murfreesboro Square take E. Main St. to left on N. Academy to right on E. College St. Look for property on right. 

PREVIEW: Monday, November 30th from 4-5 PM

Referring Agent: Nancy Roark - Century 21 Wright Realty

AUCTIONEER: Carl Montgomery - Lic. #2851
(615) 589-0078
(615) 895-0078

1b58316aeaf2ecb5ac9745e94101758493f8b3e5.jpeg


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