| Payment Terms |
Purchase Agreement & Earnest Money Deposit: The successful bidder must sign a Purchase Agreement upon the closing of the auction either in person or by email, time is of the essence. A non-refundable 15% Earnest Money Deposit, EMD is due upon signing of the purchase contract if in-person or before noon on the following business day if purchaser is an out-of-town online bidder.
Valid credit card is required to register to bid. If the successful high bidder is online, their credit card will be charged a non-refundable flat fee of $1,000.00 to be applied towards thier good faith deposit immediately upon the closing of the auction.
Buyers will prearrange financing necessary to make desired purchase(s) prior to registration.
GFD Real Estate Wiring Instructions
" Bank Routing Number: 083900402
" Bank Name: Paducah Bank 555 Jefferson St. Paducah, KY 42001
" Beneficiary Name: Chris Colson Auction & Realty Co. LLC (Escrow Account)
" Beneficiary Account Number: 938288
" Reference: Bid Number/Your name
" Purchaser/s add $11.95 to bid total for domestic wire fee
Real estate closing with winning purchaser will take place on or before Tuesday, October 20th, 2026 (45 days). Buyer is responsible for all closing costs, attorney fees, lending fees, unless otherwise stated. Seller will convey a clear title and a warranty deed. Seller will pay for deed prep, transfer tax, their portion of property taxes prorated at closing. Seller will transfer property free of mortgages, liens, or encumbrances except that of record such as but not limited to the power company, cable company, water company, gas company, etc. Possession is granted at closing.
Absence of Warranties & Disclaimers: All information contained herein, and all related materials, is subject to the Terms and Conditions outlined in the Purchase Agreement. The property is being sold on AS IS, WHERE IS basis, no warranty or representation either expressed or implied concerning the property is made by the seller or the auction company. Each potential bidder is responsible for conducting his or her own inspections, verifications, investigations, inquiries, and due diligence concerning the property. The information contained herein is subject to verification by all parties relying on it. There is no liability for its accuracy. Conduct of the auction and increments of bidding are at the discretion of the auctioneer. The sellers and selling agents reserve the right to preclude any person from bidding if there is any question regarding the person's credentials, fitness, etc. All decisions of the auctioneer are final.
Auction Terms:
This auction is being performed online and controlled by an independent 3rd party, and as such the functionality of the third party's site is in no way the responsibility of Chris Colson Auction & Realty Co. LLC, thus no bidder may hold Chris Colson Auction & Realty Co. LLC responsible for missed bids, electronic transmissions sent from the 3rd party, nor technology challenges experienced prior to, on the day of auction, nor after the auction. Electronic communications between you, the bidder and the bidding platform are just that-communications between you and the bidding platform. Chris Colson Auction & Realty Co. LLC is in no way liable nor expected to honor the automatically generated communications from 3rd party entities. To guarantee your bid is received, it is encouraged that you attend the auction in-person.
This is an absolute auction - ALL SALES ARE FINAL!
By registering for this auction, you are authorizing Chris Colson Auction & Realty Co. LLC to use for their sole discretion your contact information, if needed.
All disputes or legal matters, if any should arise, will be addressed in mediation prior to other proceedings and will be conducted in KY.
Chris Colson Auction & Realty Co LLC is licensed and regulated by the KY Board of Auctioneers.
Chris Colson Auction & Realty Co. LLC
3250 Key Drive Paducah, KY 42003 (270) 444-0031
Chris Colson, Principal Auctioneer KY Lic# 258785
www.colsonsells.com
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