980± Acres
Tennessee River, Lake Chickamauga
Sold at Auction Saturday, May 23, 11:00 A.M.

 
 
 

 
 
 
Property Description
 
980± acres of land located on Chickamauga Lake near Dayton, Tennessee.  This large,
unspoiled tract will be sold as a whole or in smaller parcels to the highest bidder.

The Buxton assemblage consists of a mix of dock permissible Chickamauga Reservoir land, woodland with spectacular views in all directions, prime pasture suitable for equestrian or other recreational uses and wildlife habitat that sustains a healthy mix of deer and waterfowl. The property is located on the west shore of Lake Chickamauga between Tennessee River mile markers 512 and 509. The property is bound to the north by a major slough that is fed by Ryan’s Branch and to the south by another slough that is owned and maintained by the Tennessee Valley Authority.  Land ownership to the west consists of larger tracts and residences that are well maintained. Dayton, Tennessee is an approximate 10 minute drive to the west.

The assemblage includes nearly 3 miles of Tennessee River/Chickamauga Lake frontage and  docks  are permissible,  pending  TVA  approval,  for  most  of  the  lakefront.  The property adjoins large tracts of TVA protected land, some of which is managed by the Tennessee Wildlife Resources Agency.

Noted on the www.riverauction.com website are spectacular views of the surrounding community that are unmatched by area properties and developments. Two points in particular afford 360° views of the Tennessee River to the north and south, Cottonport in Meigs County to the east, across the river, and the Cumberland Plateau to the west. One of the larger tracts available offers views, lakefront and a private lake. Two of the tracts are improved with residences and several include prime pasture land that adjoins owner leased TVA fields that in turn adjoin the Reservoir.

The property has been preliminarily divided into 23 tracts. Access to each tract will be by way of County roads or by a sixty foot wide ingress/egress and utility easement that will run along the old New Bethel Road or in logical areas such as ravines that create potential boundaries. These tracts are individually described to follow.


Auction Terms and Conditions
 
AUCTION LOCATION: The auction will be held on site off of New Bethel Road in Dayton, Tennessee on Saturday, May 23 at 11:00 a.m.

DIRECTIONS from Dayton, TN:  From US 27 in Dayton, take TN-30 East towards the Tennessee River.  Travel on TN-30 East for 3.4 miles.  Take a right on New Union Road.  Travel 0.8 miles and stay right at the fork, remaining on New Union Road, travel another 1.4 miles, take a left on to New Bethel Road and follow signs to the auction site.
 
INSPECTION: The property may be inspected by appointment.  Inspections can be made with a representative of John Dixon and Associates or by yourself at your own risk. All acreages and distances shown on the auction plats, as well as all aerial overlays are approximate. Final surveys will determine all actual line locations and acreages. Signs, arrows and tract signs will show property to be sold.  John Dixon &  Associates’ representatives will be on duty at the property on May 2 and 3, May 9 and 10 and May 16 and 17 from 1:00 to 4:00 p.m. or you may contact auctioneer for an appointment to view the property.
 
TERMS OF SALE: Pay 20% (of the purchase price) earnest money down at the auction and sign Contract of Sale. Balance due at closing within 30 days. A copy of the contract may be reviewed prior to the auction by contacting the auctioneer.

BUYER’S PREMIUM: There is a 10% buyer’s premium being charged at this auction. Example: For each $10,000 of bid amount, there will be a $1,000 buyer’s premium added to arrive at a purchase price of $11,000.
 
CLOSING: Balance of the purchase price is due on or before Tuesday, June 23, 2015.
 
CLOSING ATTORNEY: Closings will be conducted by Brian Kopet with Title Guaranty
& Trust in Chattanooga, Tennessee, 423.266.5751. Deed preparation and attorney’s fees will be paid by the seller; all other normal closing costs will be paid by the purchaser. Taxes will be prorated as of date of closing. Title insurance through Title Guaranty & Trust shall be paid by purchaser.

AGENCY:  John Dixon & Associates, auctioneer/ broker, is acting exclusively as agent for the seller.

SURVEY:  In the event the property is sold divided, it will be surveyed by Doc Smith Surveying. The cost of surveying will be paid by the purchasers at the rate of 75 cents per linear foot with common lines split 50/50 between adjoining purchasers. Final purchase price will be adjusted based on the final survey as acreages and distances noted on the auction plats are approximate.

SPECIAL NOTE:  Property is  selling  “as-is,  where-is”  with  all  faults  and  is  selling
subject to easements, leases, restrictions, covenants, conditions, zoning and all other matters revealed by a current survey or an inspection of the property or contained in public records. The only representation and warranties made are those contained in the Contract of Sale. Seller reserves the right to add or delete property, reject any bid and/or cancel the sale. Properties will be conveyed by General Warranty Deed. Information contained herein was obtained from sources deemed reliable. The seller and their agents reserve the right to place bids on the property up to seller’s reserve, if desired, at their sole discretion. The property will sell “as-is, where-is” with no warranty, express or implied, as to improvements, soil condition, environmental and wetlands, or zoning. No personal property conveyed with real estate unless denoted in contract. Although every precaution has been taken to ensure accuracy, neither the seller, John Dixon & Associates nor their agents will be responsible for any errors or omissions herein. Bidders should carefully verify all information and make their own decisions as to the accuracy thereof before submitting their bid. The terms of the Contract of Sale are controlling in the event of any perceived inconsistency between its terms and any statements in this brochure or other advertisement.  Announcements  made at  the auction  will  take  precedence  over written matters.
 
 
TN: 3945
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