ABSOLUTE ONLINE AUCTION GARAGE BLDG WITH LAND, AIRPLANE, VEHICLES

ABSOLUTE ONLINE AUCTION

GARAGE BUILDING WITH LAND, AIRPLANE AND VEHICLES

BIDDING ENDS JUNE 8, 2016 AT 6:00 P.M.

COAL HOLLOW ROAD, MANCHESTER, KENTUCKY

 DIRECTIONS: From Hal Rogers Parkway Exit 20 in Manchester, Kentucky, follow Hwy 80 East 1/10 mile and continue straight onto Hwy 421 North (toward Manchester) 1.1 miles.  Turn right onto Second Street and proceed 1/10 mile.  Turn left onto Railroad Avenue and proceed straight for 1.2 miles.  Turn right onto Beech Creek Road and proceed 2/10 mile.  Turn right onto Coal Hollow Road and proceed 6/10 mile to property on right.  Auction signs are posted.

REAL ESTATE:    This nice property is being sold by the boundary deed description.  It is improved by a 34 x 60 ft. garage building and a nice home-site.  The garage building is concrete block construction with metal roof and concrete floor, two electric heat units, air compressor, magnum automobile lift, small office area with restroom and air compressor with air-lines in walls.  The house site has an existing blacktop driveway and a level spot for home or mobile home.  The property is conveniently located near downtown Manchester.

 AIRPLANE:  1977 Grumman AA5B Tiger  with 0360 cubic inch engine, log book from 1984 through present, Garmin Model #GNC250XL GPS system, Garmin GTX327 Transponder, 4 seats,    (located at London / Corbin Airport)

VEHICLES:  1966 Ford Galaxie 500 Sedan 390 V8 engine, garage kept, 5 digit odometer reads 04549 * 1978 Chevy El Camino Automatic, Power Windows and Locks, A/C, AM/FM Cassette, Edelbrock V8 Motor * 1994 Dodge 3500 Dually Pickup Truck, single cab, Laramie SLT V10 Magnum Motor,  Automatic, Power Windows and Locks, A/C, AM/FM Cassette * 2003 Chevrolet Venture LS Van, Automatic, Power Windows and Locks, A/C, AM/FM with CD Player * Chevy Prizm Automatic, Power Locks, A/C, AM/FM Cassette * 2003 Chevy Venture LS, White, automatic, A/C, Power Windows and Locks * 1971 Richline Aluminum John Boat with Trailer * 1992 GMC Sonoma SLE Pickup, A/C, Automatic * 1989 Chevy Blazer * Royal Apache Popup Camper Trailer *

PREVIEW FOR REAL ESTATE AND VEHICLES:  June 2nd, 2016 from 4:00 p.m. to 6:00 p.m. and June 8th, 2016 - from 12:00 noon to 2:00 p.m.

PREVIEW FOR AIRPLANE:   June 1, 2016 from 4:00 p.m. to 6:00 p.m. and June 8th from 12:00 noon to 2:00 p.m. at London / Corbin Airport

PAY / PICK UP VEHICLE -    Thursday, June 9^th from 2:00 p.m. until 5:00 p.m. at Coal Hollow Road, Manchester, Kentucky.   

PAY / PICKUP – AIRPLANE:   Friday, June 10^th, 10:00 a.m. until 12:00 noon at London / Corbin Airport.

REAL ESTATE TERMS:  

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 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 prorated for 2016.  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.   

PERSONAL PROPERTY TERMS:  Payment in full at the conclusion of the auction by check, cash, wire transfer, Mastercard and Visa.  All checks drawn on banks outside Kentucky must be accompanied by a bank letter of guaranteed payment.  Credit card transactions will be assessed a 3% fee.  See a complete list of terms and conditions online.

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.

 PREVIEW FOR REAL ESTATE AND VEHICLES:  June 2nd, 2016 from 4:00 p.m. to 6:00 p.m. and June 8th, 2016 - from 12:00 noon to 2:00 p.m.

PREVIEW FOR AIRPLANE:   June 1, 2016 from 4:00 p.m. to 6:00 p.m. and June 8th from 12:00 noon to 2:00 p.m. at London / Corbin Airport

 PAY / PICK UP VEHICLE -    Thursday, June 9^th from 2:00 p.m. until 5:00 p.m. at Coal Hollow Road, Manchester, Kentucky.   

PAY / PICKUP – AIRPLANE:   Friday, June 10^th, 10:00 a.m. until 12:00 noon at London / Corbin Airport.

AUCTION END TIMES: 

Ford Brothers, Inc.  On line Auctions are timed events and all bidding will close at specified time. Ford Brothers, Inc.  On line Auctions also have an auto extend feature.  If a bid is placed in the final 2 minutes of an auction, the close of the auction will be automatically extended 2 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 6:01.The auto extend feature remains active until no further bids are received within a 2 minute time frame.

All property is sold in “AS IS” and “WHERE IS”  condition.  ALL SALES ARE FINAL!  Bidder understands and agrees that no refunds, exchanges, adjustments, charge backs, 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, charge back, etc. 

All description information has been gathered from sources which we believe to be reliable but are 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:  Payment will be due at pickup.  PAY / PICK UP VEHICLE -    Thursday, June 9^th from 2:00 p.m. until 5:00 p.m. at Coal Hollow Road, Manchester, Kentucky.   PAY / PICKUP – AIRPLANE:   Friday, June 10^th, 10:00 a.m. until 12:00 noon at London / Corbin Airport.   Accepted methods of payment are cash, cashier's check or personal/business check, Visa, Mastercard (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 Friday, June 10^th  will automatically be charged to the credit card used at registration, with a 3% processing fee (minimum processing fee of $3).

PICK UP AND SHIPPING:        PAY / PICK UP VEHICLE -    Thursday, June 9^th from 2:00 p.m. until 5:00 p.m. at Coal Hollow Road, Manchester, Kentucky.   PAY / PICKUP – AIRPLANE:   Friday, June 10^th, 10:00 a.m. until 12:00 noon at London / Corbin Airport.      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. 

All purchased items must be removed by the deadline stated above.  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.

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 per lot handling fee (except for coins.  Coins will be $1 per lot handling fee)  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.

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, 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 - Realtors at 1-800-526-1637.

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