Steadivest , TN - U. S. Bankruptcy Auction, Nashville & Memphis

by Taylor Auction & Realty, Inc.


Bidding Opens April 8th Thursday April 18 @ 1:00 pm Central


Online Auction , TN


Online Only


This auction is to liquidate the remaining inventory of properties of the Steadivest, LLC bankruptcy case. This will be an online only event to liquidate 6 properties in the State of Tennessee with properties in the Memphis and Nashville area.

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U. S. Bankruptcy Auction
Steadivest, LLC
Case No. 09-01013EE

Steadivest Development, LLC

f/k/a Jackson Property Liquidators, LLC
Case No. 09-01823EE
                                                         Steadivest Capital, LLC
f/k/a Tactical Financial Solutions, LLC
Case No. 09-01824EE
MTW Investment Financing, LLC
Case No. 09-01825EE
 Bidding Opens
Monday April 8th
Online Only Bidding Closes
Thursday April 18th @ 1:00 PM

 3604 Holland Dr.

Memphis, TN 38127
Parcel ID # 069063 00011

806 Newell St.

Memphis, TN 38111
Parcel ID # 045083 00017

1810 Branch St.

Nashville, TN 37216
Parcel ID # 072 11 0 331.00

716 Carmel Ave.

Madison, TN 37115
Parcel ID # 052 02 0 102.00

330 Pullen Ave.

Nashville, TN 37207
Parcel ID # 071 11 0 180.00

1023 Sharpe Ave.

Nashville, TN 37207
Parcel ID # 083 01 0 105.00
TN Auctioneer Commission Firm # 4857
TN Real Estate Firm # 00261426


Auction Conducted for and upon approval of the United States Bankruptcy Court for the Southern District of Mississippi

Terms: All terms are set by the Trustee

Taylor Auction & Realty, Inc. has put forth every effort in preparing the catalog for this auction to provide accurate description of the property. Real Estate selling AS IS and neither the Trustee nor Taylor Auction & Realty, Inc. makes any warranties or representations, express or implied, as to the habitability or condition of the real property It is encouraged that you inspect the property you wish to purchase PRIOR TO THE ONLINE AUCTION. No sale will be contingent upon a property inspection by the successful bidder after the auction or is the sale contingent upon Buyer obtaining financing. Printed statements or descriptions by staff or seller are provided in good faith and are matters of opinion. Bidders must conduct and rely solely upon their own investigations and inspection in regard to condition and feasibility of the bidder’s intended use. The property is being sold 'AS IS' with any and all faults. Please review all information supplied, and seek appropriate assistance prior to bidding.

In regard to Inspection, please call 662-226-2080.

Auction End Times:

This feature extends the bidding for all lots on the auction. The auction will be extended for the amount of time supplied in the Auto Extend field which is 10 minutes. This behaves differently than normal Auto Extend. If the End Time is 6:00 PM, Auto Extend is set as 10, and a bid is placed 9 minutes before the end of the auction, this will only extend the auction to 6:01 PM. The actual end time shown for the auction is the end time for all items and other bidders are always given the amount of time supplied as Auto Extend to consider placing a bid. Please note that this feature changes the actual end time of the auction and that no notification of this extension is currently given to bidders. All bidders are encouraged to watch the catalog for bidding purposes because of the system’s extend-all feature on all lots.

Time Increase of Decrease: Taylor Auction & Realty, Inc. may increase or decrease the extended time amount at any time during the auction until the close of bidding.

Bidding and Outbid Notifications:

In order to have enough time to conduct authorizations, registration must be completed at least 24 hours in advance of the end of the auction. If the day before an auction falls on a holiday or weekend, the deadline is the day before the holiday or the Friday prior to the auction.

Due to the nature of this auction, approval is not automatic. To be approved to bid on the Steadivest Online Auction in TN please submit the following:

•Letter of credit or Letter of credibility from your banker stating your ability to close this transaction financially

If you a utilizing a broker for bidding assistance the Bidder Broker Participation Form should be completed by you and your broker 48 hours before the auction ends and notarized.

Please review all files in the files section of the project.

In order to better serve our customers, all bidders must provide their name, address, daytime phone number or cell number, and email address at which they can be contacted. This is to insure good communication between Taylor Auction & Realty, Inc. and the bidder throughout any transactions. Each bidder's identity will be verified. Bidding rights are provisional, and if complete verification is not possible, Taylor Auction & Realty, Inc. will reject the registration, and bidding activity will be terminated.

Our on-line auctions move quickly! If you are interested in bidding, bid quickly; especially at the close of bidding time. The bidding software will notify bidders by email or text when they have been outbid. Bidders may also find out if they have been outbid by refreshing the individual lot information or the entire screen. Due to varying internet connections/ speed, please place a max bid or constantly monitor the auction at close of bidding. Sometimes email or text notifications can be delayed. If you win you will be notified by email.

ORDER OF AUCTION: Offering - The real estate will be offered as a whole by the dollar.

BUYER'S PREMIUM: A 10 % Buyer's Premium will be added to your final bid to equal the contract price.

Buyer's Premium example:

Bid price - $50,000.00

+ 10% Buyer's Premium - $ 5,000.00

= Total Contract price - $ 55,000.00

Terms: At the close of the auction, successful bidders will be emailed a contract to be executed and returned to Taylor Auction & Realty, Inc. Successful bidders will deposit 10% of contract price per property in the form of cashier's check or wire transfer to Taylor Auction & Realty, Inc. The entirety of the remaining balance is due within 45 days at closing. This online 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. Purchaser will be responsible for all wire transfer fees.

AUCTION CONTRACTS: Contract Documents will be sent by e-mail to the successful bidder, who must execute and fax or email back to Taylor Auction & Realty, Inc. within 24 hours of the end of the auction. You will be closing on property on which you are the successful bidder in the final manner in which you bid at the auction.

AUCTION BID DEFAULT: Successful bidder not executing and returning the contract with earnest money deposit within 24 hours of the conclusion of the auction will be considered in default. In the event a winning bidder fails to submit the signed Contract for the Sale and Purchaser of Real Estate and 10% of High Bid Price in earnest money deposit, the winning bidder will be charged a penalty fee of $1,000.00 on the credit card provided at auction registration. Additional default remedies are reserved by Taylor Auction & Realty, Inc. and the Seller as provided in the Auction Terms and Conditions and the Contract for Sale of Real Estate. Taylor Auction & Realty, Inc. reserves the right to sell to the second-highest bidder in the event the successful high bidder does not comply with the terms of the sale.

LIQUIDATED DAMAGES: If the buyer chooses not to close within the stated time and no written extension has been granted by the seller, the buyer will forfeit all of the deposit. If such action occurs, Taylor Auction & Realty, Inc. hereby has the right to disperse the deposit as stated in the listing agreement and the buyer has no claims to such money or property being sold. Liquidated damages are to cover cost of auction, cost incurred by seller, labor cost and additional cost of auction as not defined in this agreement.

Taylor Auction & Realty, Inc.'s INVOLVEMENT IN THIS CONTRACT: Taylor Auction & Realty, Inc. is the agent of the seller and their fiduciary duties of loyalty and faithfulness are owed to their client (the seller). Taylor Auction & Realty, Inc. is not acting as a buyer's agent. TAR reserves the right to remove or cancel the bids and or bidding rights and privileges of any party, deemed not to be in the best interest of the seller, at any time. The seller and buyer hereby agree that Taylor Auction & Realty, Inc. is a part of this contract and shall receive compensation as stated in the Contract to Purchase Real Estate.

BIDDER BROKER PARTICIPATION: A Broker Participation Form with complete instructions is available at

SPECIAL INSTRUCTIONS: Any special instructions must be written on sales contract today.

CLOSING: Time being of the essence, these sales shall be closed as soon as possible within the 45 days period. The United States Bankruptcy Court will convey clear title to the property and is responsible for only deed preparation. All other closing costs are the responsibility of purchaser.


Laura Mitchell

Rudy Title and Escrow, LLC

2012 21st Avenue South

Nashville, TN 37212

Direct Phone: 615-515-3520

Main Phone: 615-383-2903

Fax: 615-383-2412

[email protected]

TAXES: 2013 Taxes will be prorated to the day of closing. Any prior taxes will be paid at closing by the trustee.

CLOSING TIME: Within 45 days and upon approval of bankruptcy court.

POSSESSION: Purchaser shall receive possession of property at closing.

Rental Information and Security Deposits: Information was provided by the Steadivest manager in regard to monthly rental amounts and occupancy at the beginning of this project date being November 29, 2012. Auctioneer, Managers or Trustee are not guaranteeing that the houses stated rented in the catalog will be rented during the bid process or at closing. Nor or we guaranteeing that a vacant house will be rented. The leases are on a month to month basis and we can not guarantee that a renter will not decide during this auction process for various reasons to vacant. If any security deposit is on record, a credit will be transferred at closing to the buyer. Security deposit credits are not guaranteed for houses that are currently rented at closing.

ACREAGE AND AERIAL PHOTOS: Parcel Dimensions and acreages are based on legal descriptions. Aerial photos are for illustration purposes only and not surveyed boundary lines.

RESTRICTIONS: Subject only to local and State of Tennessee laws, ordinances and regulations. Property is selling to all easements of record. Seller is placing no restrictions on the property. The owner does warrant that they have good merchantable title to the real estate and that they will convey the same with a trustee deed, free from all encumbrances, liens or judgments at the time of closing.

DISCLAIMER: All information contained herein is believed to be correct to the best of the auctioneer's knowledge. The information is being furnished to bidders for the bidder's convenience and it is the responsibility of the bidder to determine that information contained herein is accurate and complete. Any reliance on the contents shall be solely at the recipient's risk. Bidders must conduct and rely solely upon their own investigations and inspection in regard to condition and feasibility of the bidder’s intended use. The property is being sold 'AS IS' with any and all faults. Please review all information supplied, and seek appropriate assistance prior to bidding.

Note: Under Title X, the purchaser of a single family residence built before 1978 has a maximum of 10 days to inspect the property for the presence of lead-based paint. All bidders must sign “Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards waiving the opportunity to conduct a risk assessment or inspection for the presence of lead-based paint and/or lead-based paint hazards. If a 10 day opportunity is demanded to conduct a risk assessment or inspection, the ten days starts 10 days before the close of the auction.

Hold Harmless: Buyer and or bidder agrees that Taylor Auction and Realty, Inc. is a representative of the Seller and agrees to hold harmless and indemnify Taylor Auction & Realty, Inc. and its Agents, Owner, Directors, Employees and its Representatives from any and all claims, demands, expenses, damages which bidder/buyer may claim on account of or any way growing out of said auction and to look solely to the Seller for any remedy demanded.

SOLE AND EXCLUSIVE VENUE & JURISDICTION OF ALL DISPUTES: Any and all claims, including debt collection and all other disputes of any kind, nature, or character whatsoever arising from this auction sale shall be brought in the appropriate court of Grenada County, Mississippi, and shall be governed by the laws of the State of Mississippi; Seller, Bidder and Buyer each individually and collectively by virtue of participating in the Auction conducted by Taylor Auction and Realty, Inc. do hereby irrevocably agree to submit themselves and any claims to the jurisdiction and venue of the courts of Grenada County, Mississippi, and the laws of the State of Mississippi, which shall be the sole venue and jurisdiction for the resolution of any claims between them and Taylor Auction and Realty, Inc. regardless of the nature or location of the property sold/purchased or the physical location of the Auction.

Bidder Acknowledgment: Bidder acknowledges that no relationship of any nature or type, agent, employee, independent contractor or otherwise is created between bidder and auctioneer, affiliated auction companies, affiliated software companies and/or any servant, agent or employee of the same by bidder’s participation in this auction. Bidder acknowledges and agrees that Auctioneer is acting solely as the agent for the seller in this auction. Disclaimer of warranties: There are no understandings, agreements, representations or warranties, express or implied not specified herein, respecting this contract or the item or property sold hereunder, including but not limited to the merchantability or fitness for a particular purpose.

Bidder Responsibilities: Bidder responsibilities include, but are not limited to: Bidders agree to keep their username and password confidential, as they are responsible for ANY and ALL activity involving their account. When using the web site you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges. Auction company employees and/or auction company may bid on auction for absentee bidders or at the direction of interested bidders.

Guaranty Agreement in regard to bidding for a business entity: By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees earnest money payment to Taylor Auction & Realty, Inc and completion of the transaction.

SERVER & SOFTWARE TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Taylor Auction & Realty, Inc., reserve the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor Taylor Auction & Realty, Inc. SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Email notifications will be sent to registered bidders with updated information as deemed necessary by Taylor Auction & Realty, Inc.

Refresh Bidding: Refresh your screen constantly during the closing minutes of the bidding, or Enable the Auto Refresh feature.

By bidding on any item, the bidder shows acceptance of the terms of the auction.

Benny Taylor CAI AARE CAGA

Taylor Auction & Realty, Inc.

This auction is being conducted with the assistance of Comas Montgomery Auction & Realty, Inc.

Conducted By

Taylor Auction & Realty, Inc.

Office: 1.662.226.2080

Ask The Auctioneer