ABSOLUTE ONLINE ESTATE AUCTION

THE LATE SHARON RILEY

HOUSE AND LOT AND PERSONAL PROPERTY

BIDDING ENDS DECEMBER 6, 2022 – 6:00 P.M.

250 CAP DRIVE, LONDON, KY

DIRECTIONS:  From the intersection of Hwy 192 By-Pass and Hwy 25 in London, KY, follow Hwy 25 south 9/10 mile and turn right onto Middleground Way.  Proceed 3/10 mile and turn left onto CAP Drive / Hwy 2389.  Go ¼ mile to property on left.  Auction signs are posted.

DESCRIPTION:  This property is Lot #22 of Southland Subdivision in the Sublimity area of London, Ky.  It features a brick, ranch style home with a full basement and a storage building.   The main level of the house contains a great room with living and dining areas, kitchen, 3 bedrooms and 1 full bathroom.

 The full basement contains a great room, kitchenette, dining area, bathroom and large unfinished storage room.  Other amenities include a covered front porch, 1 car attached garage, screened back porch, covered patio, Kentucky Utilities electric service and  electric heat/air conditioning.  

This home would be ideal for your primary residence or an investment / rental property.

PERSONAL PROPERTY includes furniture, cookware, home décor, tools, shelving, dishes and more.

PREVIEWS:  November 29^th– 4:00 to 6:00 p.m. and December 6^th– 4:00 to 6:00 p.m.

PICKUP – December 7^th– 12:00 noon to 6:00 p.m.

TERMS:

Buyer's Premium: There will be a 10% 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.

AUCTION TIME:  Bidding ends December 6, 2022 - 6:00 p.m.

Ford Brothers, Inc. Real Estate Online Auctions are timed events and all bidding will close at specified time. Ford Brothers, Inc. Real Estate Online Auctions also have 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 6:05.The auto extend feature remains active until no further bids are received within a 5 minute time frame.  

SERVER & SOFTWARE TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Ford Brothers, Inc. reserves the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor FORD BROTHERS, INC. 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 Ford Brothers, Inc.

REAL ESTATE TERMS: 20% 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 the 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 45 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.

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 Fee) 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 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 Laurel 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.
 
 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 paid by Seller for 2022.  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, 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 Laurel 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 1-800-526-1637.

TERMS ON PERSONAL PROPERTY:

Buyer's Premium: There will be a 10% Buyer’s Premium added to the winning bid.  The sum of the winning bid plus the Buyer’s Premium will be the sales price.

Online Auction Ending Times:

Ford Brothers, Inc. Online Auctions are timed events and all bidding will close at the specified time. Ford Brothers, Inc. Online Auctions also have an auto-extend feature.  If a bid is placed in the final 5 minutes of an auction, the close of the auction 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 6:04. The auto-extend feature remains active until no further bids are received within a 5-minute time frame. Please monitor the countdown timer to see when the lot will close.

Staggered Closing:  This online auction closes in intervals.  Depending on how large (# of lots) an auction is, then we set the auction to close so many lots at a time. If it is a large auction then it will be 75-100 lots at a time. If it is equipment and has 150 lots or less, then we will close the auction approx 10-25 lots a time, all in 5-minute intervals.  Please monitor the countdown timer to see when the lot will close. Please check the auction announcements for detailed information regarding these intervals.  This feature works great with the auto-extend feature to closely emulate a live auction.

All property is sold in “AS IS” and “WHERE IS” condition.  ALL SALES ARE FINAL!  Bidder understands and agrees that no refunds, exchanges, adjustments, chargebacks, etc, will be allowed.  Property is available for inspection at specified times and it is the bidder's responsibility to determine condition.  Bidder's failure to inspect any item or lot will not constitute grounds for any claim, refund, adjustment, chargeback, etc. 

All description information has been gathered from sources which we believe to be reliable but is 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.  Auctioneer reserves the right to change, modify, delete any item or lot or description in the auction as may be necessary.

Payment, Pickup, Shipping & Storage Terms:

     Pickup/Payment Info:  Pay / pickup is December 7,  2022 from 12:00 noon until 6:00 p.m.  Accepted methods of payment are cash, cashier's check or personal/business check, Visa, Mastercard, American Express or Discover (with a 3% processing fee (minimum processing fee of $3) or wire transfer.  All fees incurred by wired transfers will be paid by the purchaser.  All purchases that have not been paid by December 7, 2022 at 6:00 p.m. will automatically be charged to the credit card used at registration, with a 3% processing fee (minimum processing fee of $3). All purchased items must be removed by the deadline of December 7, at 6:00 p.m.  Any items not removed by the deadline will, at Auctioneer's discretion, be discarded or resold with proceeds retained by Auctioneer.  There will be NO REFUND to the purchaser for these forfeited items.

     Large Item Pickup: Ford Brothers, Inc absolutely DOES NOT provide shipping, shipping preparation or transportation services for any items larger than the size of largest U.S. Postal Service flat rate box.  Removal of items, moving, packaging, loading, transporting, shipping and shipping preparation (on items larger than the above-stated size) are the sole responsibility of the purchaser. 

     Shipping Preparation: Shipping and shipping preparation on items that will fit into a US Postal Service flat rate box will be subject to the following charges:  $5 processing and handling fee per box. The buyer shall pay all shipping fees prior to shipping.  The shipping insurance is available through most shipping companies and would be the expense of the buyer (optional).  Ford Brothers, Inc. and the sellers WILL NOT be liable for any lost or damaged packages.

     Item Transportation:  Ford Brothers must be notified via phone or email(auction@fordbrothersinc.com) of any items that cannot be picked up on an Auction Pickup day, if we are NOT notified then your items will be forfeited. Any items transported back to a Ford Brothers office/facility are subject to a $5 per lot fee ($1 per coin/jewelry and $1 per lot that will fit into a 12 inch by 12 inches by 6-inch box). NO GUNS will be transferred between offices due to FFL regulations, you must pick your gun up at the location of the office that conducted the Auction. Items weighing more than 100 pounds or larger than 24 inches x 24 inches x 48 inches will not be shipped by Ford Brothers to any location.  Transported items must be paid for according to the terms of the auction and will be transported at Ford Brothers’ earliest convenience.  Buyers MAY NOT waive payment until their items are transported.

     Storage of Personal Property Items: Any item stored at a Ford Brothers facility exceeding 48 HOURS will be subject to a $1 per day storage fee.

     Forfeiture of Items:  Any item/lot that has not been picked up from any Ford Brothers Auction location within 14 days will, at Auctioneer's discretion, be discarded or resold with proceeds retained by the Auctioneer. 

SALES TAX:  Kentucky Sales Tax (6%) will be added to the sale price.  Dealers or other exempt parties must provide proper documentation to Auctioneer before bidding.

SERVER & SOFTWARE TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Ford Brothers, Inc. reserves the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor FORD BROTHERS, INC. 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 Ford Brothers, Inc.

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

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.

Ford Brothers, 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 you are agreeing to the terms as they are written at that time.

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 Ford Brothers and all other MarkNet 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 Auctioneer immediately.

For additional information, contact Ford Brothers, Inc. Auctioneers at 606-878-7111.

TIME IS OF THE ESSENCE in regard to all auction terms.