ABSOLUTE ONLINE AUCTION PROPERTY BEING SOLD TO SETTLE AN ESTATE Address: BIDDING OPENS � BIDDING ENDS � DIRECTIONS: PROPERTY PREVIEW: OPEN HOUSE TERMS NOTE: There will be a 15% Buyer�s Premium added to the winning bid to determine the final sale price. PROPERTY IS OFFERED UNDER THE SPECIFIC TERMS PROVIDED IN THE PURCHASE CONTRACT. PLEASE READ AND REVIEW THE CONTRACT THOROUGHLY PRIOR TO BIDDING ON ANY PROPERTY. IF YOU HAVE NOT READ AND REVIEWED THE CONTRACT FOR SALE OF REAL ESTATE, DO NOT BID. CONTRACT THAT WILL BE SIGNED IS POSTED UNDER DOCUMENTS. AUCTION END TIME: Gooch Auction Group, LLC, Real Estate Online Auctions, is timed events and all bidding will close at specified time. Gooch Auction Group LLC, Real Estate Online Auctions, also has an auto extend feature. If a bid is placed in the final 5 minutes of an auction, the auction ending will be automatically extended 5 minutes from the time the bid was placed. Example: if an auction scheduled to close at 6:00 receives a bid at 5:59, the close time will automatically extend to 6:05. The auto extends feature remains active until no further bids are received within a 5 minute time frame. ? ? REFRESH YOUR SCREEN CONSTANTLY DURING THE CLOSING MINUTES OF THE BIDDING? ? SERVER & SOFTWARE TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Gooch Auction Group LLC, reserves the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor GOOCH AUCTION GROUP LLC 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 Gooch Auction Group LLC. ? ? TERMS: 10% of the total sale price down as a non refundable earnest money in the form of a certified check, cash or wire transfer within 48 hours of close of 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. PURCHASERS MAY, AND IT IS PREFERRED, THEY CLOSE ON OR BEFORE 30 DAYS OF CLOSE OF BIDDING. ? ? This online only auction is a not contingent purchase. Not 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.? GENERAL WARRANTY DEED WILL BE GIVEN AT CLOSING. BUYER�S PREMIUM: There will be a buyer�s premium of 10% added to the bid price to arrive at final purchase price. Example: Bid Price $100,000 plus $10,000 (10% buyer�s premium) equals purchase price of $110,000. AUCTION BIDDER DEFAULT: Successful bidder not executing and returning the contract with earnest money deposit within 48 hours of 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 10% 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 Gooch Auction Group LLC and the Seller as provided in the Auction Terms and Conditions and the Contract for Sale of Real Estate. Gooch Auction Group LLC 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 Gooch Auction Group LLC, its Agents or Representatives and the Buyer(s) or Seller(s), agrees to go to Mediation Center of Kentucky 177 North Upper Street, Suite 102 Lexington, KY 40507-1100, for resolution before trying in a court of proper jurisdiction. By bidding on the property, buyer agrees to all terms and conditions set forth.? ? Acceptance of Bid Prices: For Real Estate purchases, Successful bidder(s) will be required to enter into a purchase agreement immediately following close of the auction. Gooch Auction Group LLC will e-mail documents to be executed, and said documents should be faxed or e-mailed back to Gooch Auction Group LLC 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. Gooch Auction Group LLC its Agents, Representatives or Employees may bid and buy.? ?Title: As specified in the Contract for Sale of Real Estate Deed: As specified in the Contract for Sale of Real Estate Possession: As specified in the Contract for Sale of Real Estate Real Estate Taxes and Closing Cost: All real estate taxes will be prorated for (year). 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. Easements: Subject to any and all easements of record, including road easements and utility easements Zoning: This property is subject to all state and local zoning ordinances. Bidder Verification: The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Gooch Auction Group LLC will reject the registration, and bidding activity will be terminated. The Seller and Gooch Auction Group LLC 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: Gooch Auction Group LLC Agents and Representatives are agents of the Seller. Buyer and or Bidder agrees to hold harmless and indemnify Gooch Auction Group LLC 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 Gooch Auction Group LLC 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, Gooch Auction Group LLC, Agents or Representatives. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. All decisions of Gooch Auction Group LLC are final. ?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 Gooch Auction Group, LLC. Mike Gooch, Principal Auctioneer/Principal Broker at 859-494-7653, Email gooch@goochsells.com or Auction Assistant, Denise Harney at 859-707-2947, or website www.goochsells.com