Bid Deposit: 10% of your bid
Bid Deposits will be accepted in the form of cash, cashiers checks or personal check with a bank letter guaranteeing the amount or a combination of these payment types.  Please make the cashier's check(s) payable to yourself. In the event that you are the high bidder, you will simply endorse the check to Morris Auction Group as a non-refundable bid deposit. In the event you are not the high bidder, your cashier's check will be returned to you, and you may simply deposit it into your account. The high bidder will pay the Bid Deposit upon signing the sales contract at the auction.

Inspection
All inspections must be done prior to the auction date.  Inspection Dates are published on our website.  You may hire your own inspector at your expense to inspect the property.  Call our office to make an appointment for the inspector to visit the property at least twenty-four (24) hours in advance. Please do not bid on any property until you have thoroughly inspected the property.

No Contingencies
All auction properties are sold in “as is” condition.  No purchase shall be contingent on financing or any other contingencies.  Potential buyers are given ample time to inspect properties prior to auction. Terms and conditions are preset and non-negotiable.

Buyer's Premium
A buyer's premium of ten percent (10%) will be added to the high bid to determine the total price to be paid.

Broker Participation
All licensed real estate brokers are encouraged to participate by bringing your buyers to the auction. A commission will be paid to the licensed and qualified broker whose properly registered buyer is the successful bidder at the auction, and whose buyer purchases the property. Brokers must register their prospective buyer on the required Broker Participation Form (completely filled out and signed). The form may be obtained by calling 901-565-7770. This form must be submitted to Morris Auction Group no later than 24 hours prior to the Auction.

Survey
If the property is sold in more than one tract, Buyer shall be responsible for his/her proportional cost of a new survey.  Each buyer’s proportional costs shall be determined by taking the total survey costs and dividing by the total acreage and that result multiplied times the number of acres purchased by the buyer.

Closing
The successful bidder will sign a real estate sales contract at the auction.  The entire purchase price must be paid by Cashier's or Certified Check, or wired funds at closing. The closing shall take place not later than thirty (30) days after the auction.  Closing is to take place at the offices of:
Ray Beliles
1709 Kirby Pkwy
Memphis TN 38120
901-755-5400

Disclaimer
Announcements made at the auction supersede all printed material. All information included herein was derived from sources believed to be correct, but is not guaranteed.

Call for appointment