News Summary
Knoxville residents should prepare for an upcoming foreclosure sale set for February 4, 2025, at the Knox County Courthouse. The sale involves properties owned by Brandon and Jocelyn Gibson, tied to a promissory note of $1,100,000. With several lots included in the sale and no redemption rights available to the owners post-sale, this presents a unique opportunity for potential buyers in the local real estate market. Stay informed as additional announcements may occur leading up to auction day.
Exciting News from Knoxville: Foreclosure Sale on the Horizon!
Knoxville residents, mark your calendars! A significant foreclosure sale is set to take place on February 4, 2025, at 11:00 A.M. at the Knox County Courthouse. This event centers around the real property owned by local figures, Brandon and Jocelyn Gibson. If you’ve been eyeing real estate opportunities and are ready to jump into the market, this might just be your chance!
The Details You Need to Know
The Gibsons are facing a promissory note amounting to a whopping $1,100,000.00, which they executed back on November 30, 2015. This financial agreement was made with a company called Hazel Development, LLC, and is tied to a Commercial Deed of Trust, which essentially means the property serves as collateral for the loan.
Fast forward a few years, and it seems that there has been a default on payments. As a result, Hazel Development has taken action, demanding the sale of the property to recoup the loan. The property in question consists of several lots within the James A. Hart Subdivision. More specifically, it includes Lots 1R1, 2, 3, 4, and 5, all located within Knox County.
Property at Stake
To pinpoint the exact location, the property is associated with various addresses, including:
- 0 West Gallaher Ferry Road, Knoxville, TN 37932
- 2300 West Gallaher Ferry Road, Knoxville, TN 37932
- 2304 West Gallaher Ferry Road, Knoxville, TN 37932
- 0 Hickory Creek Road, Knoxville, TN 37932
Parcel IDs for these properties are 129-03512, 129-03513, 129-03514, 129-03515, and 129-03516. So if you’re checking maps, keep these numbers in mind!
What’s Next?
This upcoming sale is set to be conducted under the watchful eye of the appointed trustee, Steffanie M. Speck, ESQ. Interested bidders can look forward to an open sale, meaning the property will go to the highest and best bidder for cash. Just a heads up, the property will be sold in its current condition—typically referred to as “as is”—which means there won’t be any warranties regarding the title’s merchantability. Therefore, due diligence is strongly advised!
Additionally, the rights of redemption and other exemptions have been waived by the grantors. For those unfamiliar with real estate terminology, this means that the owners will not be able to reclaim the property once it’s put up for sale.
Keep an Eye on the Publication
In terms of getting the word out, notice about the upcoming sale will be published in The Knoxville Focus for three consecutive weeks starting January 13, 2025. So, be on the lookout if you want to stay fully informed!
Stay Tuned!
As this date approaches, any changes—including the potential for an adjournment—will be at the discretion of the trustee. This means it’s essential to keep your ears to the ground and pay attention to any new announcements. As Knoxville continues to grow and change, opportunities like this can pop up and disappear just as quickly. Whether you’re a seasoned investor or a first-time buyer eager to try your hand at bidding, this foreclosure sale might just be the chance you’ve been waiting for!
So, prepare your bids and get ready for what could be an exciting day in Knoxville real estate!
Deeper Dive: News & Info About This Topic
HERE Resources
Knoxville Homeowners Face Foreclosure on Family Property
Knoxville Community Update: Legal and Public Notices for August 12, 2024
Important Legal and Public Notices in Knoxville, Tennessee for August 12, 2024
Knoxville Community Bulletin: Legal and Public Notices for the Week of August 12, 2024
Additional Resources
- The Knoxville Focus: Legal and Public Notices
- WATE: Graceland Set for Foreclosure Auction
- Tennessean: Tennessee Press Advocates Push Back
- Wikipedia: Foreclosure
- Google Search: Knoxville real estate news
