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ANNOUNCEMENTS & TERMS OF SALE:
Online Only Real Property Auction | 1444 Cypress Street, Paris, Kentucky 40361
Auction begins to close Monday, December 9th, 2024 | 7:00 pm EST
The Seller, Heirs of Lesley Hunt Haynie by and through James M. Lovell, Attorney-in-Fact, authorizes Todd McConnell, Real Estate Broker and Principal Auctioneer, dba McConnell Real Estate, Inc. to sell this Real Estate Property located at 1444 Cypress Street, Paris, Kentucky 40361 at ONLINE ONLY AUCTION.
This particular property is better described as House & Lot with all improvements located at 1444 Cypress Street, Paris, Kentucky 40361 also known as Parcel No. 026-50-01-009.00 in Bourbon County PVA records. This property is shown as Lot No. 4 on the Plat of Doyle's Annex, which is recorded in Deed Book 93, Page 216 and in deed of record in Deed Book 266, Page 500 found in Bourbon County Clerk's Office, Paris, Kentucky
We are Selling this Tract of Land with all improvements by the Lump Sum. There will be a starting bid of $50,000.00 with minimum bid increments of $500.00 at the discretion of the Auctioneer.
We were informed the Electric, Water & Sewer Service is provided by City of Paris Combined Utilities; Gas Service is provided by Columbia Gas of KY; and Waste Collection is provided by Rumpke.
1. DEED: Title will be transferred by a recordable Special or General Warranty Deed, executed by the Seller(s) and shall be conveyed in fee simple on or before Wednesday, January 15, 2025. Time shall be of the essence in closing this sale.
2. POSSESSION: Full Possession with Deed. Purchaser acknowledges and understands that any items left on the premises at time of Closing will then go with Property as the Seller(s) and/or Auction Agents shall NOT be required to clean anything up or remove any items left on premises.
3. REGISTER TO BID: You must Register with Valid Identification Information and Credit Card to receive a Bid Number. No one should make a Bid they do not want to honor or are unable to honor. Bidder acknowledges that once a bid is offered, the Bidder shall be bound to the amount. There are no contingencies in the Auction Purchase Contract on obtaining financing or inspections. All bidding is open to the public. The Property is available to all qualified Purchasers without regard to race, color, national origin, religion, disability, gender, familial status, sexual orientation, or martial status. All willing and able parties have the right to bid and purchase this property being sold at Auction.
4. BUYER'S PREMIUM: There will be a TEN PERCENT (10%) Buyer's Premium added to the Highest Bid Amount to determine Final Contract Sales Price.
5. AUCTION PURCHASE CONTRACT: A. Once the high bidder is confirmed and the property has been declared sold by the Auctioneer. The high bidder(s) (purchaser) will be required to sign the Auction Purchase Contract for the amount of the high bid plus 10% Buyer's Premium which totals to the Contract Sales Price. B. Upon signing the Auction Purchase Contract, the Purchaser(s) will be required to pay an Earnest Money Deposit of Ten Percent (10%) of the Auction Purchase Contract Sales Price of the Subject Property in U.S. Dollars by Certified Funds or verifiable funds with proper identification acceptable to the Seller(s) and Auctioneer with photo I.D. The Earnest Money Deposit will be made payable to McConnell Real Estate, Inc. Escrow and deposited in McConnell Real Estate, Inc. Escrow Account within 72 hours of Auction end. The Earnest Money Deposit will be credited to the Purchaser(s) at the time of closing with the balance due in US Dollars (by certified funds) on or before Wednesday, January 15, 2025 upon delivery of the deed. Failure to pay the balance due shall require the Purchaser to forfeit his or her down payment, execute a release in favor of the Seller(s) and Auctioneer and be subject to all other remedies available to the Seller(s) under the law. Time shall be of the essence in closing this sale.
6. REAL ESTATE TAXES: The real estate taxes on said property for the current year shall be adjusted in the following manner: all real estate taxes prior to 2025 are to be paid by the Seller(s); 2025 real estate taxes will be prorated to the date of the deed. 2026 and all subsequent years' real estate taxes are to be paid by the Purchaser(s). The 2024 City of Paris (District 02) Real Estate Tax Rate is $11.65 per $1,000.00. The PVA has assessed this Property at $175,000.00 for 2024 Certified Tax Roll.
7. PROPERTY DISCLOSURES: A. Purchaser(s) acknowledges Property is being sold subject to all existing easements, including utility easements, planning and zoning regulations of record. Property and Improvements are being sold "AS IS", with no warranties expressed or implied other than the title. Regardless of any information stated or in print by the Auction Agents, the Purchasers have examined this property and improvements and are relying solely upon such examination with reference to any easements, the condition, character, and size of the Land and All Improvements and all other information. B. Lead Based Paint Warning Statement: Every prospective Purchaser is informed that the Improvements on this Property were built prior to 1978 and notification is given that the property may present exposure to Lead-Based paint. Prospective Purchasers are granted, by law, a period of 10 days the right to inspect any Building for Lead-Based paint. The time period allowed for risk assessment or inspection for possible Lead-Based paint hazards is established as the 10 day period preceding this Absolute Auction. The Purchaser of this property will be required to sign a waiver of any post-sale 10 day inspection period. Items staying with Property: all attached flooring; all light fixtures including ceiling fan/light fixtures; railing on porch; any items left on premises when Deed is given goes with the property; 1A. Not Included: folding tables, chairs and equipment owned by auction agents being used to conduct the marketing of auction.
8. INSURANCE: There is believed to be NO Insurance coverage on the improvements. Purchaser is responsible for any and all insurance coverage from day of sale forward. If said property is substantially damaged or destroyed by fire or other casualty prior to the closing of the transaction, PURCHASER shall proceed with the transaction. The Purchaser shall have the right of obtaining any increase of coverage or additional insurance coverage at Purchaser's expense.
9. OTHER TERMS & CONDITIONS: A. Purchaser(s) agree to hold harmless, the Seller(s) and Auction Agents for any damage to Property while being marketed and before closing date, and while people are inspecting this Property and during the bidding period of the Auction of the real estate. B. The responsibility of any grass mowing or upkeep of property grounds and property maintenance is the Purchaser's from auction date on. C. All announcements made prior to auction bidding closing will take precedence over any prior information or printed matter. In the event of any dispute the Auctioneer's decision is final.
* THE SELLER(S), HEIRS OF LESLEY HUNT HAYNIE BY AND THROUGH JAMES M. LOVELL, ATTORNEY-IN-FACT, ALONG WITH MCCONNELL REAL ESTATE, INC. APPRECIATE YOUR INTEREST IN THIS ONLINE REAL ESTATE AUCTION. WE WILL BE GLAD TO ANSWER ANY QUESTIONS THERE MIGHT BE CONCERNING THE PROPERTY AND THE TERMS OF SALE.
GENERAL ONLINE AUCTION TERMS & CONDITIONS:
INSPECTION and GUARANTEE: It is the bidder's responsibility to determine the usability or condition of auction items. All personal property is sold in "AS IS" and "WHERE IS" condition. All description information has been gathered from sources which we believe to be reliable but are not guaranteed. Auctioneer makes no warranty or guarantee of any kind with respect to condition, authenticity, provenance, source, condition, suitability for a particular purpose, etc. Bidder's failure to inspect any item or lot will not constitute grounds for any claim, refund, adjustment, charge back, etc. There are no warranties or guarantees of any kind. Auctioneer reserves the right to change, modify, delete any item or lot or description in the auction as may be necessary until the close of the auction.
AUCTION CLOSING DATE(S) AND TIMES: The auction will have 'STAGGERED CLOSING' times. Bidding will close for the first lot number at the specified date and time. The rest of the lots will close one at a time in numerical order after an amount of time that is set by the auctioneer. The auction will also have 'SOFT CLOSING' of lots. (i.e. if a bid occurs within the last 2 minutes of the auction, the closing time for that lot will be extended by an additional 2 minutes until no bids occur within the last 2 minutes). For example: If a lot is scheduled to close at 6:00 pm, but someone makes a bid at 5:59 pm, the closing of that lot will be changed to 6:01 pm. The bidding will close if there are no more bids between 5:59 pm and 6:01 pm. The closing time for each lot will continue to be extended by 2 minutes until no bids occur in the last 2 minutes.
MINIMUM BID INCREMENTS: 'Minimum Bid Increments' are the minimum amount of money that anyone can increase the current winning bid. These amounts change by the dollar amount bid. Please see the Bid Increments schedule within each auction.
BIDS: The auction will use a maximum bidding system. This makes bidding more convenient and less time consuming. Your account will bid for you using the 'minimum bid increment' until it reaches your maximum bid. You don't have to bid again every time someone outbids you until the current winning bid is above your 'Max Bid'. For example: You place a bid on an auction item which has a current high bid of $10 by entering the maximum amount you're willing to pay for the item (New Max Bid = $20). Your account will place a bid of $12 on your behalf ($10 current winning bid + $2 minimum bid increment). Then, someone else bids $14. Your account will automatically bid $16 on your behalf. Your account will continue to bid for you (using the minimum bid increments) until you reach your 'New Max Bid = $20'. When the current winning bid is more than your 'Max Bid', your account will not bid again for you (i.e. If someone else bids $22). You can change your New Max Bid until the auction closes. The seller and other bidders cannot see your New Max Bid. There is a 10% buyers premium for this sale which will be added to the final bid price on each item and will be the same if you pay by cash, check or credit card. (no extra credit card fee). Your bid is a contract. Do not place a bid that you are unwilling or unable to honor. If you are declared the winning bidder, you have entered a legally binding contract to purchase the property offered. If you have questions about an individual item, please contact the auctioneer before bidding. The high bidder acknowledged by the Auctioneer shall be the purchaser of that lot. The Auctioneer is the sole determinant as to who is the successful bidder. Once an item is declared as "sold", the successful bidder assumes full risk and responsibility for the purchased lot.
TECHNICAL ISSUES: Bidder agrees that neither the auctioneer nor the seller are liable for any technical issues that may occur. In the event there are technical difficulties related to the server, software or any other online auction related technologies, McConnell Real Estate, Inc. reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the servers, the software the internet connections nor the auctioneer SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON.
By bidding on the auction items, buyer agrees to all terms and conditions. McConnell Real Estate, Inc. reserves the right to alter this agreement at any time. This will take place by updating this site. Please check back and review these terms as every time you use this site as you are agreeing to the terms as they are written at that time.
McConnell Real Estate, Inc. and All Representatives of McConnell Real Estate, Inc. are agents of the seller. Purchaser and/or bidder agrees to hold harmless and indemnify McConnell Real Estate, Inc. and its representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc. Purchasers and/or bidders agree to hold harmless, the Sellers and Auction Agents for any damage to Property while being marketed and before auction closing date, and while people are inspecting personal property.
In the event of any dispute the auctioneer's decision is final. Any dispute between McConnell Real Estate, Inc., its agents or representatives and the Buyer(s) will be tried in a court of jurisdiction in Bourbon County, Kentucky.
Auction company employees and/or auction company may bid on and purchase auction items.
BIDDER DEFAULT: Failure to complete a purchase is illegal and will result in one or more of the following (1) prosecution (2) loss of bidding privileges for McConnell Real Estate, Inc. and all other HiBid auctions.
If a bidder at any time feels his/her username, password or bidder number has been compromised due to lack of security by the bidder, notify the auctioneer immediately.
For additional information, contact McConnell Real Estate, Inc. Auctioneers at 859-987-3212.
TIME IS OF THE ESSENCE in regard to all auction terms.
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