Name Tilawa Marina
Auctioneer Russ Swanay Real Estate
Type Online-Only Auction
Date(s) 9/13/2021 - 9/21/2021
09/13/2021 8:00 A.M. 09/21/2021 6:00 P.M.
Preview Date/Time 08/24/2021 9 A.M. 09/21/2021 6 P.M.
Checkout Date/Time 09/21/2021 6:00 P.M.
Location 1700 SINK VALLEY ROAD
BUTLER, TN 37640
Buyer Premium BP
Description
OFFERING AT PUBLIC ONLINE AUCTION TILAWA MARINA AND CAMPGROUND ON BEAUTIFUL WATAUGA LAKE!!! 25 + or - ACRES 1700 SINK VALLEY ROAD, BUTLER, TN, GPS FREINDLY For online bidding: www.swanayproperties.com Bidding period opens Sept 13 at 8:00 a.m. And begins closing Sept 21 at 6:00 p.m. AUCTIONEERS NOTE: "Tilawa land of wind rain and mountain water. "Fantastic opportunity to own one of the few marinas that are currently licensed on beautiful Watauga Lake. We are proud to offer this exciting opportunity for public online bidding. Tilawa Marina, (formerly Pappy's Marina). Marina is currently not in operation but all licenses and approval are in effect with TVA. Tilawa has been approved for 6 large boat slips for boats over 40' in length. 22 Boat slips were in place prior to the marina ceasing operation. 18 Campground sites are in place. Marina and harbor electric stabilization have been approved by TVA. Septic has been approved below the 1980 line. According to the TVA River and Reservoir Operations Study, Watauga Lake is approximately 16.3 Miles long, with 1084.9 miles of shoreline. According to the TVA, the summertime water level target, at "full pool" the lake surface covers 6,430 acres and the estimated depth of Watauga Lake is 265'at the dam. At full pool, Watauga's elevation is the highest of all TVA lakes at 1,959' above sea level. More than half of Watauga Lake's shoreline lies within the Cherokee National Forest and cannot be developed. Recreational uses include boating, fishing, water-skiing, and camping. TERMS AND CONDITIONS: 10% down at contract signing. A 10% BUYER'S PREMIUM WILL BE ADDED TO THE FINAL BID TO DETERMINE THE FINAL CONTRACT PRICE. Closing to be within 30 days of contract signing. If you do not have a working relationship with our auction company, you will need to provide a $20,000.00 deposit before you will be approved for bidding. The Sale is subject to court approval. All bids are considered final and that you will have the necessary means to close. RUSS SWANAY REAL ESTATE OFFERS COMPLETE AND COMPREHENSIVE REAL ESTATE AND AUCTION SERVICES. VOTED # 1 BY THE READERS CHOICE OF CARTER COUNTY FOR BEST AUCTION AND REAL ESTATE FIRM. TO VIEW OUR CURRENT AUCTIONS, REGISTER OR BID ONLINE VISIT: WWW.SWANAYPROPERTIES.COM. P.A.L. # 4465
Auction Terms & Conditions AUCTION TERMS AND CONDTIONS FOR UPCOMING AUCTION WILL BE CONSIDERED PART OF THE BUYERS CONTRACT. TERMS AND CONDITION FOR REAL PROPERTY AUCTION SEPTEMBER 13 8:00 A.M. THROUGH SEPTEMBER 21, 2021 AND BEGINS CLOSING AT 6:00 P.M. 1700 SINK VALLEY ROAD, BUTLER, TN 37640. JOHNSON COUNTY, TN. PARCEL ID #''s: 081 098 and 089 006.04. 10% BUYERS PREMIUM WILL BE ADDED TO THE FINAL BID TO DETERMINE THE FINAL CONTRACT PRICE. 10% DOWN DUE IMMEDIATELY UPON SIGNING OF CONTRACT. SUCCESSFUL BIDDER TO IMMEDIATELY SIGN PURCHASE CONTRACT UPON ACCEPTED BID BY SELLER. THERE IS A 10% BUYERS PREMIUM FOR THIS AUCTION. CLOSING TO TAKE PLACE WITHIN 30 DAYS OF CONTRACT SIGNING. EARNEST MONEY DEPOSIT WILL BE FORFEITED IF BUYER DEFAULTS ON THE CONTRACT. A $20,000.00 DEPOSIT MUST BE PRESENTED TO THE AUCTION COMPANY PRIOR TO BEING APPROVED FOR BIDDING. IF YOU DO NOT HAVE A WORKING RELATIONSHIP WITH THE AUCTION COMPANY THEN YOU WILL NOT BE APPROVED TO BID UNLESS A CHECK OR BANK WIRE OF FUNDS IS PRESENTED BEFORE THE END OF BIDDING TIMELINE. THE SELLER OR AUCTIONEER WILL NOT BE RESPONSIBLE FOR ARRANGING ANY FINANCING. PLEASE MAKE SURE YOU HAVE THE NECESSARY RESOURCES BEFORE BIDDING. 2021 PROPERTY TAXES WILL BE PRORATED. SELLER WILL FURNISH DEED. BUYER(S) WILL PAY ANY OTHER EXPENSES. SUBJECT TO ANY EXISTING EASEMENTS, CLAIMS OF EASEMENT OR RESTRICTIONS, ZONINGS, RIGHT OF WAYS OR ANY OTHER MATTERS NOT OF RECORD. INCLUDING ALL ROAD, WATER, SEWER AND POWER LINE EASEMENTS IF ANY. (THERE IS A RIGHT OF WAY, FOR INGRESS AND EGRESS FOR THE NEIGHBORING PROPERTY OWNERS AT THE SOUTHEAST SIDE OF THE PROPERTY AND THE NORTHWEST SIDE OF THE PROPERTY.) PROPERTY IS SELLING WITH A PREVIOUS SURVEY AND TAX DATA SURVEY. SURVEY HAS BEEN RECORDED AT REGISTER OF DEEDS OFFICE. OWNER OR RUSS SWANAY REAL ESTATE OR AUCTIONEER WILL NOT BE HELD LIABLE FOR ANY PRESENT OR PAST ENVIRONMENTAL HAZARDS, SINKHOLES, OR ANY OTHER MATTERS THAT MAY AFFECT THE MARKETABILITY OF THE PROPERTY. THERE IS NO WARRANTY, EITHER WRITTEN OR IMPLIED ALL IMPROVEMENTS ARE BEING “SOLD AS IS.” OWNER WILL TRANSFER THE PROPERTY WITH A WARRANTY DEED. IT IS THE BUYERS RESPONSIBILITY TO PAY FOR THEIR OWN TITLE OPINION AND RECORDING FEES. AUCTIONEER RESERVES THE RIGHT TO REJECT ANY BID CONSIDERED TO NOT BE IN THE BEST INTEREST OF THE SALE. PROPERTY BEING OFFERED WITH A RESERVE. THE AUCTIONEER NOR THE OWNER, WILL NOT BE HELD LIABLE FOR ANY ACCIDENTS THAT MAY OCCUR ON THE PREMISES. RUSS SWANAY REAL ESTATE P.A.L. # 4465 112 SOUTH ARMED FORCES DRIVE ELIZABETHTON, TN 37643 PHONE (423)543-5741 AUCTIONEER: DAVID COLLINS --------------------------------------------- ------------------------------------------ Terms Of Use

Seller User Terms

Bidder User Terms
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 1,000,000.00 100.00 USD
1,000,000.01 - 9,999,999.99 10,000.00 USD
Currency USD
Buyer Premium BP
Payment Terms
Auction company will contact the successful bidder directly after the auction for payment options. Down payment must be received in full within 24 hours of auction ending. A minimum of $20,000.00 by check or wired funds must be submitted before you will be approved for bidding.