Real Estate Terms:
-The successful high bidder on this property will be required to sign the Real Estate Sales Contract, Terms & Conditions and any other documents needed, upon conclusion of the bidding and will make an earnest money deposit of ten percent (10%) of the sales price. In the case of an out of state buyer, said buyer will sign an auction contract via electronic means and provide the 10% deposit via bank wire the next business day following the sale.
-A Lead Based Paint Waiver will be part of the sales contract.
-A ten percent (10%) buyer's premium will be added to the high bid to establish the total sales price. US currency cash or approved check. Example: If the high bid is $100,000, the final sale price will be $110,000 with $11,000 due as a deposit upon completion of the sale.
-All bidders understand and acknowledge by bidding that they are entering into a binding agreement as outlined in this document and by Kentucky Revised Statute.
-Ballance & possession with deed, on or before November 11th, 2024. Taxes will prorate to the day of closing.
-This is a non-contingent sale. All inspections and financing are expected to be in place prior to bidding.
-Current taxes, will be prorated at the date of closing.
-The Seller will maintain insurance up to the time of closing; however, the successful bidder will hold an equitable interest in the property and is advised to consult with their insurance provider to ensure that they are adequately protected.
-This property is being offered "AS IS, WHERE IS and WITH ALL FAULTS", without any warranties expressed, implied or guarantees of any kind.
-Agent represents the seller only and does not inspect properties on bidder's behalf. All measurements, square footage & age are approximate and not guaranteed. Seller and or Agent makes no warranty as to accuracy of information. All information is deemed reliable, but not guaranteed, buyer to verify ALL information, to their satisfaction before bidding.
-The bids are advanced at pre-set increments available on the bidding web page.
-Absentee or Phone Bidding arrangements can be made prior to Auction Day by contacting the Auctioneer, George Coomer, at 859-209-5114. VIP Auction Company may bid on behalf of a potential buyer at their request.
-This is a Public Auction and as such, all qualified bidders may bid including VIP Auction Company, Heirs, LLC owners, family members, employees, and affiliates.
-Neither VIP Auction Company or the Seller shall be responsible for any internet or technological failures due to no fault of their own.
-Announcements made on the day of sale shall take precedence over and previous advertisements or statements.
Thank you for participating in this VIP Auction Company sale. It is important that you familiarize yourself with these terms & conditions of Sale.
If you do not agree with any of the terms and conditions stated, DO NOT BID. You will be bound by these terms and conditions.
Good luck and good bidding,
VIP Auction Company
