472 +/- Acres at Absolute Multi-Parcel Auction
Auction Date: Saturday, September 9th, 2023 at 10:30AM
North & South sides of E Hwy 80 (Pulaski/Laurel County Line) Somerset, Ky 42501
Laddie Road/Chimney Rock Church Road
Discover a World of Possibilities: 471+/- Acres in Tracts Await You
Are you ready to step into a realm of unlimited potential? Mark your calendar for an extraordinary opportunity as we present the Absolute Live & Online Auction of 471+/- Acres in Tracts, taking place on Saturday, September 9th, 2023 at 10:30AM. This one-of-a-kind property, nestled on the North & South sides of East Hwy 80, beckons with a diverse landscape and a plethora of possibilities.
Unveiling the Location: Where Dreams Take Root
Join us at a location that defies comparison, located between mile markers 38 & 39 on E Hwy 80, near the enchanting Pulaski County/Laurel County line. This remarkable expanse also spans both sides of the serene Chimney Rock Church Road, just off E Hwy 80. Prepare to be captivated by the beauty that unfolds around you.
Nestled within a prime location for unparalleled development opportunities, this expansive property lies at the crossroads of potential, strategically positioned between the vibrant hubs of Somerset, London, and Mt. Vernon, Kentucky. With the convenience of I-75 just a stone's throw away, accessibility to and from this burgeoning epicenter is unparalleled. Moreover, its enviable proximity to the majestic Lake Cumberland adds a touch of leisure and recreation to the mix. The fusion of a promising commercial landscape and the serene allure of nature sets the stage for a harmonious blend of possibilities, ensuring that this property stands as a beacon of potential for investors, dreamers, and visionaries alike.
A Symphony of Landscapes: 24 Tracts, Countless Visions
Encompassing 471+/- acres, this property's uniqueness lies in its breathtaking diversity. Divided into 24 tracts, it is a canvas that invites you to paint your dreams. Explore large, wooded tracts tailor-made for hunting and recreational enthusiasts. Stumble upon tracts primed for ambitious commercial endeavors. Experience the embrace of fertile farmland, perfect for nurturing livestock. The options are as limitless as your imagination.
Embrace Opportunity: Highlights that Leave You Awe-Struck
On the north side of E Hwy 80, the crown jewel of this property awaits – 290+/- acres with a plethora of road frontage. A sprawling section holds enormous commercial potential, boasting approximately 100 acres of cleared, leveled, and graded terrain primed for your visionary development.
Meanwhile, the south side of E Hwy 80 boasts a 53+/- acre farm, adorned with a comfortable mobile home, a 3,400sf barn, charming sheds, and two tranquil ponds. The allure of well water is an added delight, a soothing touch that enhances the pastoral ambiance.
Also, the south side of E Hwy 80 boasts 100+/- acres of beautiful, wooded land on both sides of Chimney Rock Church Road. Each tract has plenty of road frontage, along with the 42+/- acres tract joining E Hwy 80. You can hike, hunt, and engage any many other riveting recreational activities.
Picture yourself as the proud owner of a small area, entwined in a 5-year lease with the Somerset Gas Company (apart of the 39+/- Acre farm). With escalating rent payable annually, this is an investment that writes its own success story. As the new custodian, you'll seamlessly inherit this arrangement, adding a steady stream of income to your portfolio.
Unleash Your Imagination: The Potential Unfolds
Hunting aficionados will find paradise amidst the woods, while recreation enthusiasts have a playground of possibilities. Ambitious farmers can turn their aspirations into reality, reaping rewards from fertile soil. The prime location offers not just road frontage on a major highway, but also accessibility via various other roads, ensuring your vision is seen by all who pass.
Beyond Expectations: Unveiling Additional Treasures
Experience the convenience of natural gas through direct access to the Delmar Turner pipeline, threading its way through the property and under Hwy 80. 3 Phase electric stands ready to power your dreams. In 2017, an independent ($40K) environmental impact study solidified the property's value, revealing its strategic positioning with potential access roads and exits in anticipation of the I-66 completion.
A Valued Seller:
The Anthony Del Spina Trust has authorized our firm to auction this beautiful piece of property. Auctioning this masterpiece coincides with the owner's 90th birthday celebrations, a milestone marking a life well-lived. Mr. Del Spina is a long-time investor and has proven himself through his past developments such as local projects like the Lake Cumberland Resort.
Secure Your Future: Join Us on September 9th
Don't miss the moment to reshape your destiny. Be part of history on Saturday, September 9th, 2023, at 10:30AM, as this remarkable property finds its new steward. The canvas is ready, the stage set – are you prepared to seize the opportunity?
For inquiries, directions, and to preview this unparalleled treasure trove, reach out to our dedicated team today. Embrace the future. Embrace endless possibilities. Embrace the legacy of 471+/- acres awaiting you.
Tract Information:
Tract #1 - 6.91+/- Acres
Road frontage on Chimney Rock Church Road, and located just off E Hwy 80.
Tract #2 - 3.81+/- Acres
Building lot located just off E Hwy 80 apart of the farm property.
Tract #3 - 2.45+/- Acres
Building lot located just off E Hwy 80 apart of the farm property.
Tract #4 - 3.92+/- Acres
Building lot located just off E Hwy 80 apart of the farm property, with a pond and a barn.
Tract #5 - 4.80+/- Acres
Building lot located just off E Hwy 80 apart of the farm property. This parcel has a current gas line/pump lease on the property. The Somerset Gas Company has signed a new 5 year lease that the buyer will be entitled to. The lease payments are paid annually and will begin at $12,000 per year and then escalate on a formula based on annual cost of living increases.
Tract #6 - 11.47+/- Acres
Farm parcel of land located just off E Hwy 80.
Tract #7 - 10.69+/- Acres
Farm parcel of land located just off E Hwy 80. This tract includes a mobile home and some barn/sheds.
Tract #8 - 11.50+/- Acres
Farm parcel of land located just off E Hwy 80.
Tract #9 - 33.18+/- Acres
Wooded tract of land with road frontage on Chimney Rock Church Road located just off the south side of E Hwy 80.
Tract #10 - 23.62+/- Acres
Wooded tract of land with road frontage on Chimney Rock Church Road located just off the south side of E Hwy 80.
Tract #11 - 25.48+/- Acres
Wooded tract of land with road frontage on Chimney Rock Church Road located just off the south side of E Hwy 80.
Tract #12 - 18.66+/- Acres
Wooded tract of land with road frontage on Chimney Rock Church Road located just off the south side of E Hwy 80.
Tract #13 - 23.41+/- Acres
Wooded tract of land with road frontage on E Hwy 80 & Chimney Rock Church Road located off the south side of E Hwy 80.
Tract #14 - 5.12+/- Acres
Commercial land with road frontage on E Hwy 80 and easement access on the left side of the property.
Tract #15 - 7.82+/- Acres
Commercial land with road frontage on E Hwy 80 and easement access on the left side of the property.
Tract #16 - 11.54+/- Acres
Commercial land with road frontage on E Hwy 80 and easement access on the left side of the property. Daniel Boone National Forrest on the east side of the property.
Tract #17 - 14.92+/- Acres
Commercial land with easement access on the west side of the property. Property joins the Daniel Boone National Forrest on the east side of the property.
Tract #18 - 14.53+/- Acres
Commercial land with easement access on the west side of the property. Daniel Boone National Forrest on the east side of the property.
Tract #19 - 81.30+/- Acres
Wooded tract of land with easement access on the south side of the property and road access through Whitaker Cemetery Road. Daniel Boone National Forrest is located on the east side of the property.
Tract #20 - 34.55+/- Acres
Wooded tract of land with road access through Whitaker Cemetery Road. Daniel Boone National Forrest is located on the east side of the property.
Tract #21 - 2.70+/- Acres
Small tract of land with lots of road frontage and access through Whitaker Cemetery Road.
Tract #22 - 87.24+/- Acres
Large tract of land with easement access on the south side of the property and additional access on the north side of the property via Whitaker Cemetery Road.
Tract #23 - 22.43+/- Acres
A tract of land with easement access on the east side of the property.
Tract #24 - 9.24+/- Acres
A smaller tract of land with easement access on the east side of the property, just off the north side of E Hwy 80.
NOTE: ONLINE BIDDING WILL BE AVAILABLE.
TERMS: 20% deposit with the balance due in 30 days
NOTE: There will be a 10% buyer’s premium added to the last bid to determine the final sales price.
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 the auctioneers at 606-679-2212.
Matt Ford -Auctioneer
REAL ESTATE TERMS:
Buyer's Premium: There will be a 10% Buyer’s Premium added to the winning bid to determine the final sale price.
AUCTION TIMES:
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 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.
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 Pulaski 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.
Real Estate Taxes and Closing Cost: All real estate taxes will be prorated for 2023. 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 Pulaski 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 606-679-2212.
Buyer's Premium: There will be a 10% Buyer’s Premium added to the winning bid to determine the final sale price.
AUCTION TIMES:
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 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.
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 Pulaski 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.
Real Estate Taxes and Closing Cost: All real estate taxes will be prorated for 2023. 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 Pulaski 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 606-679-2212.