Absolute Online Only Auction
Commercial Building and Lot
Bidding Ends Thursday, January 17th,2013 at
Approximately 4:00 p.m.
603 Monticello St. – Somerset,Kentucky
Directions: Located at 603 Monticello St. in Somerset. Auction signs are posted.
This striking colonial style commercial building (visiblefrom Hwy 27) is located in a high traffic count area with the lot size measuring approximately 160’x234’. The building has a paved parking lot with approximately 60 parking spaces. There is also a detached 24x30 vinyl-sided garage with shingle roof.
The first floor of the building has an entrance foyer, large open area, three office spaces, and public restrooms. The first floor of the building is carpeted. The second floor of the building has a full kitchen, full bath, four additional office spaces, and has carpeting and some tile flooring. On the third floor is an apartment with a separate entrance. The apartment has a living room, kitchen (stove and refrigerator included), two bedrooms, and a full bath. The upstairs is also carpeted with some tile flooring.
AUCTIONEERS NOTE: Having endless possibilities, this commercial building- lot could be the next site for your business!! It would be easily adaptable for many uses, car lot, professional office or retail space, etc. There is also the potential for rental income as the apartment has a separate entrance. Log onto our website at www.fordbrothersinc.com for additional information or to bid.
TERMS: REAL ESTATE: 20% deposit required within 48 hours of sale completion with the balance being due in 30 days.
PREVIEW DATES: The property will be available for preview onThursday, January 10th from 2:00 p.m. to 4:00 p.m. and Thursday, January 17th from 2:00 p.m. to 4:00 p.m. each day or shown by appointment.
NOTE: There will be a 10% Buyer’s Premium added to the winning bid to determine the final sales price.
AUCTIONEER/BROKER/SELLERDISCLAIMER: The information contained herein is believed to be correct tothe best of the auctioneer’s knowledge. The information is being providedfor the bidder’s convenience and it is the bidder’s responsibility to determinethe information contained herein is accurate and complete. The propertiesare selling in their "as-is" condition with no warranties express orimplied.
Announcements made the day of the auction take precedence over printed matter.
For additional information, contact the Ford Brothers, Inc.
<br>
PREVIEW DATES: The property will be available for preview onThursday, January 10th from 2:00 p.m. to 4:00 p.m. and Thursday, January 17th from 2:00 p.m. to 4:00 p.m. each day. <br>
<br>
<br>
NOTE: There will be a 10% Buyer’s Premium added to the winning bid to determine the final sale price. <br>
<br>
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. <br>
<br>
AUCTION END TIME: Thursday, January 17th, 2013 @ approximately 4:00 p.m. EST<br>
<br>
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. <br>
<br>
MAX BIDDING: When you place your maximum bid, the current bid price doesn’t automatically jump to your max bid. Your bid will go to the next highest increment and will be increase as other people bid against you. The bid system will automatically bid up to your max in the increments specified. You may increase your max bid if you are outbid. <br>
<br>
REFRESH YOUR SCREEN CONSTANTLY DURING THE CLOSING MINUTES OF THE BIDDING<br>
<br>
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. <br>
<br>
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 with the balance due in full within 30 days.. We do not accept a credit card for down payment. Purchaser shall be responsible for all wire transfer fees. Closing will be as specified in the Contract for Sale of Real Estate. <br>
<br>
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.<br>
<br>
GOOD INSURABLE SPECIAL WARRANTY DEED AT CLOSING. <br>
<br>
<br>
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. <br>
<br>
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. <br>
<br>
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.<br>
<br>
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.<br>
<br>
Title: As specified in the Contract for Sale of Real Estate <br>
<br>
Deed: As specified in the Contract for Sale of Real Estate<br>
<br>
Possession: As specified in the Contract for Sale of Real Estate<br>
<br>
Real Estate Taxes and Closing Cost: All real estate taxes will be prorated for 2013. 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.<br>
The seller will pay for deed preparation and deed tax.<br>
<br>
Easements: Subject to any and all easements of record. <br>
<br>
Zoning: This property is subject to all state and local zoning ordinances. <br>
<br>
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.<br>
<br>
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.<br>
<br>
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.<br>
<br>
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. * It is understood that this building will need a roof. <br>
<br>
For additional information, contact Ford Brothers, Inc. Auctioneers - Realtors at 1-800-526-9430.