REAL ESTATE TERMS:

Buyer's Premium: There will be a 10% Buyer’s Premium added to the winning bid to determine the final sale price.

REAL ESTATE TERMS: 20% of the total sale price down as non-refundable earnest money in the form of a certified check, cash or wire transfer within 48 hours of the close of the auction. We do not accept a credit card for down payment. The balance of purchase price is due at closing, said closing to be within 30 days of close of bidding. Purchaser shall be responsible for all wire transfer fees. Closing will be as specified in the Contract for Sale of Real Estate. 

This online only auction is a CASH SALE not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by bidders at registration prior to bidding and specified in the attached Contract for Sale of Real Estate.

GOOD INSURABLE GENERAL WARRANTY DEED AT CLOSING.

Real Estate Taxes and Closing Cost: All real estate taxes will b prorated for 2024.. The purchaser will pay all other closing costs associated with the purchaser’s side of the sale, including local and state recording fees and any cost associated with the purchaser’s loan. The seller will pay for deed preparation and deed tax.

NOTE: The purchaser of a single-family residence built before 1978 has a maximum of 10 days to inspect the property of lead-based paint.  The period for inspections begins September 16th through September 26th.   The successful bidder must sign a waiver of the 10-day inspection period.

SIMULCAST AUCTION TERMS:

Online "Simulcast" Auction Information:

Ford Brothers, Inc.  Online Auctions are timed events and all bidding will close as each lot is sold. Ford Brothers, Inc. To bid in the Simulcast format, you must proceed to the catalog, click "Enter Live Auction" option at the top of the catalog that will be available approx. 15 minutes to the start of the Live/Online Auction and at the point you will be on the Simulcast Auction Bidding Platform.  You will need to bid fast and pay attention to the chat window for warnings. There is NO countdown timer.

Simulcast Bidding Options:

Each lot will become available in sequential order and you will need to use the red "Bid" button to bid the next increment available. You can use the chat to ask any questions, but you cannot use it to bid.  If you have any questions about bidding in the Simulcast format, be sure to give us a call at 606-679-2212.

AUCTION BIDDER DEFAULT: Successful bidder not executing and returning the contract with earnest money deposit within 48 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 Sale of Real Estate and 20% earnest money deposit, the winning bidder will be charged a penalty fee of $5,000.00 on the credit card provided at auction registration. Additional default remedies are reserved by Ford Brothers, Inc. and the Seller as provided in the Auction Terms and Conditions and the Contract for Sale of Real Estate. Ford Brothers, 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.

Any dispute between Ford Brothers, Inc, its Agents or Representatives and the Buyer(s) will be tried in a court of jurisdiction in Pulaski County, Kentucky.  By bidding on the property, buyer agrees to all terms and conditions set forth.

Acceptance of Bid Prices: Successful bidder(s) will be required to enter into a purchase agreement immediately following the close of the auction. Ford Brothers, Inc. will e-mail documents to be executed and said documents should be faxed or e-mailed back to Ford Brothers, Inc. within 48 hours of the end of the auction. Successful bidders not executing and returning contracts with earnest money deposit within 48 hours will be considered in default. Any and all inspections that a buyer may want must be done at buyer’s expense prior to the close of the online bidding. Ford Brothers, Inc.'s Agents, Representatives or Employees may bid.

Bidder Verification: The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Ford Brothers, Inc. will reject the registration, and bidding activity will be terminated. The Seller and Ford Brothers, Inc. reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc. 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.

Agency: Ford Brothers, Inc.' Agents and Representatives are agents of the Seller. Buyer and or Bidder agrees to hold harmless and indemnify Ford Brothers, Inc. and its Agents and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.

NEW DATA, CORRECTIONS, AND CHANGES: Please check for updated information prior to scheduled auction time to inspect any changes, corrections, or additions to the property information. Disclaimer & Absence of Warranties: All information contained in this information packet and all related materials are subject to the terms and conditions outlined in the Contract for Sale of Real Estate agreement. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation either expressed or implied, concerning the property is made by the Seller or Ford Brothers, Inc. Agents or Representatives. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in the brochure and on the website is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller, Ford Brothers, Inc., Agents or Representatives. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. All decisions of Ford Brothers, Inc. are final. Any dispute between Ford Brothers, Inc., its Agents or Representatives and the Buyer(s) will be tried in a court of jurisdiction in Pulaski County, Kentucky. By bidding on the property, buyer agrees to all terms and conditions set forth.

Auctioneer/Broker/Seller Disclaimer: The information contained herein is believed to be correct to the best of the auctioneer’s knowledge. The information is being provided for the bidder’s convenience and it is the bidder’s responsibility to determine the information contained herein is accurate and complete. The property is selling in its ‘as-is’ condition with no warranties expressed or implied.

For additional information, contact Ford Brothers, Inc. Auctioneers at 606-679-2212

Michael Broughton, Auctioneer

House & Lot in Somerset, Ky at Absolute Live/Online Auction
Friday, September 27th, 2024 at 1:30PM
105 Murrell Avenue Somerset, Ky

The seller has purchased another property and has authorized our firm to offer this nice property at absolute auction with online bidding available.

Discover convenience and charm with this lovely home up for auction! Situated just off Hwy 80 in Somerset, this property offers close proximity to downtown and local attractions, making it a fantastic opportunity for a variety of uses. Whether you're looking for a personal residence, a rental property, a vacation home, or the perfect remodel project, the possibilities are endless.

The home features 2-3 bedrooms, a bath, dining room, living room, kitchen, and a full, unfinished basement, offering ample space for customization. Outside, enjoy a cozy backyard along with the added benefit of a rare, detached garage for storage or parking.

Don’t miss your chance to own this versatile property. Live auction with online bidding available!