ABSOLUTE ONLINE MULTI-PROPERTY AUCTION
3 DUPLEXES AND HOUSE
BIDDING ENDS MONDAY, APRIL 14, 2025 – 6:00 P.M.
PHILPOT ROAD, LONDON, KY
DIRECTIONS: From the intersection of the Highway 192 By Pass and Highway 363 (Keavy Road) follow Highway 363 1.3 miles and turn left onto Philpot Road. Follow Philpot Road 2.7 miles and turn left onto Bethy Lane. Proceed about 200 feet to the subject properties on both sides of Bethy Lane. Auction signs are posted.
Property #1: Duplex and lot - 2812 Philpot Road London, KY
*0.86 acre by survey with frontage on Bethy Lane.
*Single level Duplex building.
*Each side has independent utilities.
*Central Heat and Air Conditioning - Electric Heat Pump
*Present rental amount is $650 per month per unit.
*Present tenants initial lease term has expired and are on a month to month rental agreement.
*One side is rented and the other is vacant. The seller has not rented the vacant unit so the buyer can choose his / her own tenants.
*Strong Rental History.
*Presently, the landlord pays property taxes and insurance and the tenant pays all utilities.
*Paved driveways for each unit.
*The floor plan for each unit features 2 bedrooms, 1 full bathroom, 1 half bathroom, kitchen with dining area, living room and utility room.
*Each unit has a one car attached garage with automatic garage door opener, a deck and a covered front porch.
*This is an excellent investment opportunity with a proven rental history!
*Kitchen appliances are owned by the landlord and are included in this sale.
Property #2: Townhouse Style Duplex and lot - 2794 Philpot Road London, KY
*0.64 acre by survey at the end of Bethy Lane
*Three level, townhouse style duplex with main floor, upstairs and basement.
*Each side has independent utilities.
*Central Heat and Air Conditioning - Each unit has 2 respective heat pumps, one servicing the main level and one servicing the upper level.
*One unit was recently vacated. The seller has not rented it to allow the buyer to choose their own tenant and rental terms. The tenant
in the second unit has purchased and home and plans moving soon. This tenants initial lease term has expired and is on a month to
month basis.
*Both units had been occupied by the previous tenants for a number of years.
*Paved parking in front and rear of building.
*The floor plan for each unit features living room, dining area, half bathroom, washer / dryer closet and 2 storage closets on the main
level. The upper level features two bedrooms and two full bathrooms (each bedroom has it's own private bathroom).
*Each unit features a basement with a one car garage, mechanical room and lots of extra storage space.
*This is an excellent investment opportunity. The duplex has a rare combination of a basement with a garage and bedrooms with
their own full, private bathroom!
*Kitchen appliances are owned by the landlord and are included in this sale.
*Each unit has it's own deck and covered front porch.
Property #3: House and Lot - 2814 Philpot Road London, KY
*0.45 acre with frontage on Bethy Lane.
*This house was formerly a single wide mobile home that has been placed on a foundation and built around a few years ago.
There will be no title conveyed for the former mobile home. Ownership will be transferred by deed only.
*The house is presently vacant. It was previously used as a rental unit but would be ideal for a homeowner as well.
*The water heater and microwave oven were installed new about 6 months ago.
*The floor plan features a kitchen, large dining area, living room with fireplace (LP gas logs), laundry room, master bedroom with
full master bathroom, 2 additional bedrooms (for a total of 3) and second full bathroom.
*Central Heat and Air Conditioning - Electric Heat Pump
*Covered Front Porch and Back Patio
*All kitchen appliances currently at the property are included in the sale.
Property #4: Duplex and Lot - 2816 Philpot Road London, KY
*0.24 acre with frontage on Bethy Lane.
*This duplex began as a double wide mobile home. It is on a block foundation and was remodeled, enclosed and transitioned into
a duplex a few years ago. There will be no mobile home title conveyed. Ownership will be transferred by deed only.
*Both units are presently rented for $525 per month. The original term of both leases is expired and the rental is presently on
a month to month basis.
*Kitchen appliances are owned by the landlord and are included in this sale.
*The landlord pays for property taxes, insurance and the monthly water bill (historically about $30 / month). All other utilities are
presently paid by the tenants.
*Both units share a water meter. All other utilities are separated.
*Paved parking for one unit. The paved parking area for the second unit is located on an adjoining property. The purchaser may
need to construct a new parking area for this unit or make an arrangement with the neighbor.
*The floor plan for each unit features 1 bedroom, 1 full bathroom, laundry area with washer / dryer hook up, living room and eat
eat in kitchen.
*This is an ideal investment property presently rented by tenants that have lived in the units for multiple years.
PREVIEWS: APRIL 7TH AND APRIL 14TH, 2025 – 4:00 PM TO 6:00 PM
REAL ESTATE TERMS:
Auction Premium: There will be a 10% Auction 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 ENDING TIME: APRIL 14, 2025 – 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 24 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 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.
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.
AUCTION PREMIUM: There will be an Auction premium of 10% added to the bid price to arrive at final purchase price. Example: Bid Price $100,000 plus $10,000 (10% Auction 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, 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 Auction 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 Purchaser for 2025. 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 , 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.