TWO ADJOINING PROPERTIES – OFFERED INDIVIDUALLY & IN COMBINATION
Don't miss this opportunity to purchase two adjoining properties located at 129 Cookeville Hwy and 133 Cookeville Hwy in Carthage, Tennessee. Each property is improved with an existing home and will be offered individually and in combination using the Multi-Par method of auction.
Bidders will have the opportunity to bid on 129 Cookeville Hwy, 133 Cookeville Hwy, or both properties together as an entirety. The Multi-Par format allows the individual property bids to compete against the combination bid throughout the auction.
ONLINE BIDDING IS OPEN PRIOR TO AUCTION DAY. The auction will transition to live simulcast bidding on Saturday, October 31st, 2026 at 10:00 AM CDT, at which time both in-person and online bidding will continue.
This is a reserve auction. All bids are subject to the Seller's reserve and acceptance.
TERMS & CONDITIONS OF REAL ESTATE AUCTION
Auction Format
The properties located at 129 Cookeville Hwy and 133 Cookeville Hwy will be offered at simulcast public auction with both live, in-person bidding and online bidding available. The properties will be offered individually and in combination using the Multi-Par method of auction, allowing bidders the opportunity to purchase 129 Cookeville Hwy, 133 Cookeville Hwy, or both properties together. Blackwell Realty & Auction reserves the right to establish and control bidding increments and to conduct the auction in accordance with the advertised auction procedures.
Multi-Par Bidding
The real estate consists of two adjoining properties:
Parcel 1 – 129 Cookeville Hwy
Parcel 2 – 133 Cookeville Hwy
Combination – 129 & 133 Cookeville Hwy
The properties will be offered individually and in combination using the Multi-Par method of auction. Bidders may bid on either individual property or on the combination consisting of both properties.
Throughout the auction, the bidding system will compare the aggregate high bids on the two individual properties with the high bid for the combination. The configuration producing the highest total bid amount will be identified as the leading configuration during bidding.
This is a reserve auction. All bids are subject to the Seller's reserve and acceptance. Neither a high bid on an individual property nor a high bid on the combination constitutes acceptance by the Seller unless and until the applicable reserve has been satisfied and the bid has been accepted in accordance with the terms of the auction.
A bidder shown as the high bidder on an individual property is not necessarily the successful purchaser if the combination bid exceeds the aggregate amount of the individual property bids. Likewise, a bidder shown as the high bidder on the combination may be displaced if the aggregate bids on the individual properties subsequently exceed the combination bid.
Bidders are responsible for monitoring the current bidding and winning configuration throughout the auction. Blackwell Realty & Auction reserves the right to establish bidding procedures and increments and to resolve any bidding or procedural issue necessary for the orderly conduct of the auction.
Buyer's Premium
A ten percent (10%) Buyer's Premium will be added to each successful high bid to determine the total contract purchase price.
Example: A successful high bid of $200,000 plus the 10% Buyer's Premium of $20,000 results in a total contract purchase price of $220,000.
For purposes of determining the winning Multi-Par configuration, bidding will be conducted and compared in accordance with the bidding platform's Multi-Par procedures.
Deposit
A $25,000 deposit is required for each property purchased, regardless of whether the successful bidder purchases one or both properties. A successful bidder purchasing only one property will be required to tender a $25,000 deposit. A successful bidder purchasing both 129 Cookeville Hwy and 133 Cookeville Hwy, whether through individual parcel bidding or as the combination, will be required to tender a total deposit of $50,000. The required deposit must be tendered by wire transfer or other certified funds no later than two (2) business days following completion of the auction. All deposits will be credited toward the applicable purchase price at closing. Failure of a successful bidder to timely tender the required deposit shall constitute a default by the Buyer.
Purchase Agreement
The successful high bidder will be required to execute the applicable real estate purchase agreement and any other documents reasonably required to complete the transaction. By placing a bid, the bidder acknowledges that a successful high bid creates an obligation to proceed with the purchase in accordance with these Terms & Conditions and the applicable purchase documents, subject to Chancery Court approval.
Closing & Possession
Closing shall occur no later than thirty (30) days following the auction, unless otherwise agreed to in writing by the parties. The balance of the purchase price and applicable closing costs shall be due at closing. Possession of the property will be delivered to the Buyer at closing with delivery of the deed, unless otherwise stated in the purchase agreement.
Title
Seller represents that good title to the real estate will be conveyed to the Buyer by General Warranty Deed. Prospective bidders are encouraged to perform any desired title investigation as part of their due diligence prior to bidding.
As-Is / Where-Is Condition
The real estate and all improvements are being sold strictly AS-IS, WHERE-IS, WITH ALL FAULTS. Neither the Seller nor Blackwell Realty & Auction, nor any of their respective agents, employees, or representatives, makes any warranty or representation, expressed or implied, concerning the condition of the properties or improvements. All bidders are responsible for examining and evaluating the properties for their own protection prior to bidding. Bidders should not place a bid unless they are prepared to accept the property or properties purchased in their present condition.
Inspections & Due Diligence
All inspections, investigations, surveys, financing arrangements, zoning inquiries, utility investigations, boundary determinations, and other due diligence desired by a prospective bidder should be completed prior to bidding. The sale is not contingent upon the Buyer's ability to obtain financing, appraisal, inspection results, zoning changes, development approvals, or any other contingency unless expressly provided otherwise in writing. By placing a bid, the bidder acknowledges that they have had the opportunity to inspect and investigate the property or properties to their satisfaction prior to bidding.
Property Information & Accuracy
All information provided regarding the properties, including but not limited to acreage, dimensions, boundaries, road frontage, square footage, improvements, utilities, zoning, tax information, photographs, and property descriptions, has been obtained from sources believed to be reliable but is not guaranteed. Prospective bidders are responsible for independently verifying any information material to their decision to purchase. Blackwell Realty & Auction shall not be responsible for errors or omissions in property information.
Online Bidding
Online bidding will be conducted through BidWrangler. Online bidders are subject to these Terms & Conditions as well as any applicable terms governing use of the BidWrangler platform. Blackwell Realty & Auction is not responsible for technical failures, internet connectivity issues, device failures, software problems, platform interruptions, delayed bids, or other technical circumstances that may prevent a bidder from participating in the auction. It is each bidder's responsibility to ensure that registration is complete and that the bidder has adequate internet access and equipment necessary to participate.
Default by Buyer
If a successful Buyer fails to tender the required deposit, execute the required purchase documents, or otherwise fails to complete the purchase in accordance with these Terms & Conditions and the applicable purchase agreement, the Buyer shall be considered in default. Any deposit previously tendered shall be handled in accordance with the applicable purchase agreement and other governing documents. The defaulting Buyer may also be responsible for any additional remedies available to the Seller or Blackwell Realty & Auction under the applicable agreements or law.
Pre-Auction Offers
Written offers received prior to the scheduled auction may be presented to the Seller. The Seller reserves the right to accept, reject, or negotiate a pre-auction offer. Unless otherwise agreed to in writing by the Seller and Blackwell Realty & Auction, any accepted pre-auction offer will be subject to the applicable Buyer's Premium, deposit requirements, closing requirements, and other provisions established for the auction. Acceptance of a pre-auction offer may result in modification or cancellation of the scheduled auction.
Broker Participation
Broker participation is offered subject to the requirements established by Blackwell Realty & Auction. Any cooperating real estate broker seeking compensation must properly register their buyer in accordance with Blackwell Realty & Auction's broker-participation requirements prior to the applicable deadline.
Announcements & Updates
Any announcements, corrections, additions, or updates made by Blackwell Realty & Auction regarding the auction or properties shall take precedence over previously printed, published, or distributed advertising or promotional information. Blackwell Realty & Auction reserves the right to establish and control bidding increments and to conduct the auction in accordance with its established auction procedures.
Acceptance of Terms
Registration to bid and/or placement of a bid constitutes acknowledgment that the bidder has read, understands, and agrees to be bound by these Terms & Conditions. Prospective bidders are strongly encouraged to review all auction information, conduct all desired due diligence, and ask any questions before placing a bid.
Auction Contact
Josh Kirby, Auctioneer 615-489-3266
Mike Mohr, Auctioneer 615-390-1015
Blackwell Realty & Auction
