House & Lot at Absolute Online Auction

This auction offers two properties with incredible potential! The main property includes a brick home featuring two bedrooms, one bathroom, a kitchen, living room, and a connected storage room. The upper level includes a two-car garage with unfinished space, ready for your creative touch. The home also has an unfinished back porch, providing an opportunity to enhance its outdoor living area. As a fixer-upper, this property is ideal for investors looking to flip or create a rental house within Somerset city limits. The auction also includes an additional lot located behind the house on Loveless Lane, offering even more possibilities. Conveniently located near Citizens Field and Park and just off Hwy 1247 and a few minutes from downtown Somerset, this property is in a prime location. All contents and building materials currently in the home will remain, adding extra value to your investment. Don't miss the chance to bring new life to these properties!

Tract #1 - Brick House & Lot

Tract #2 - Building Lot on Loveless Lane

"Extend All" Online Auction Settings:

This is an "Extend All" auction type.  Anytime a bid is made on any one lot, all lots will have their respective timers reset to 5 minutes. All lots will be extended anytime a bid is placed, until all bidding is ceased and the timers simultaneously run out on the lots.

REAL ESTATE TERMS:

Auction Premium: There will be a 10% Auction Premium added to the winning bid.  The sum of the winning bid plus the Auction Premium will be the sales price. Example: Bid Price $100,000 plus $10,000 (10% buyer’s Fee) equals purchase price of $110,000.

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 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. 

REAL ESTATE TAXES AND CLOSING COSTS: All real estate taxes will be prorated for 2024. 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.

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.

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.

Note:  The purchaser of a single-family residence built before 1978 has a maximum of 10 days to inspect the property of lead-based paint. The period for inspections begins on December 2nd through December 12th. The successful bidder must sign a waiver of the 10-day inspection period.

Any dispute between Ford Brothers, Inc, its Agents or Representatives and the Buyer(s) will be tried in a court of jurisdiction in LOCATION 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.

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

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 express or implied. 

For additional information contact the auctioneers at 606-679-2212.

Announcements made the day of the auction take precedence over printed matter.