ONLINE WEBCAST AUCTION TERMS & CONDITIONS:
AUCTION PROPERTY: 5493 Versailles Rd, Lexington, KY 40510
DATE OF SALE: Friday, September 15, 2017 at 11:00 AM
LOCATION: Auction will be held live on-site at 5493 Versailles Road. Auction will also be simulcast at www.halfhillauctions.com with online bidding available.
BIDDER DEPOSIT: Online and phone bidder's are required to post a $100,000 USD deposit to secure their bidding credentials. Deposit is made payable to Rector-Hayden Realtors no later than 48 hours prior to auction. Money will be held and applied to earnest money deposit if you are the winning bidder. Unsuccessful bidders will have their deposit refund mailed no later than Friday September 22, 2017.
TERMS OF SALE: The successful bidder shall be required to enter into a non-contingent auction purchase agreement and a deposit of 10% of the contract purchase price is due in USD immediately upon the conclusion of the auction and must be received by the Auctioneer within 24 hours. Sale is subject to seller confirmation. The seller has until Wednesday September 20, 2017 to accept the high bid and sign purchase contract. We accept personal, business, & cashier's checks on real estate sales. NO wire transfers. The balance of the purchase price is to be paid on or before 30 calendar days, from the date of contract acceptance. TIME IS OF THE ESSENCE.
CLOSING: The successful purchaser is hereby notified that they must hire an attorney to check the title and coordinate the closing with the auction company. Buyer is responsible for their own attorney fees.
BUYER'S PREMIUM: A 10% buyer's premium will be added to the high bid and included in the total contract purchase price. Example: High bid of $100,000.00 plus 10% buyer's premium = $110,000.00 contract purchase price.
PROPERTY INSPECTION: Each potential bidder is responsible for conducting, at his or her own risk, their own independent inspections, investigations, inquiries and due diligence concerning the property. We welcome on-site inspections at the advertised public viewings on Sunday, September 3rd from 2:00 PM to 4:00 PM and Sunday September 10th from 2:00 PM to 4:00 PM. Also shown by private appointment, contact Auctioneer, Jim Halfhill at 859-338-5764.
POSSESSION: Possession will be granted with deed transfer, subject to any existing leases, tenants, or occupants.
REAL ESTATE TAXES: Pro-rated to deed transfer date.
INSURANCE: The successful purchaser is advised that they have an interest in the property and may wish to insure their interest with an insurance binder. It is the buyer's responsibility to engage an insurance agent and pay for said coverage.
SPECIAL NOTICE: The property is offered "AS IS, WHERE IS", and with all faults, with no warranties expressed or implied of any kind. Property will be conveyed by "General Warranty" deed with no liens or encumbrances, other than existing covenants, restrictions and easements of record in the Fayette County Clerks Office. Bidders should carefully verify all information and make their own decisions as to accuracy thereof before bidding. The successful bidder today will be required to waive their right to a lead based paint inspection. NOTE: Announcements the day of the auction take precedence over any prior information.
BIDDER'S ACKNOWLEDGEMENT: By acceptance, you as a successful bidder agree to the terms and conditions stated herein. This document is part of the non-contingent contract of sale to purchase the property. This is a public offering open to all.
All property is sold in "AS IS, WHERE IS" condition. ALL SALES ARE FINAL! Bidder understands and agrees that no refunds, exchanges, adjustments, charge backs, etc. will be allowed or permitted. Property is available for inspection at specified times and it is the bidder's responsibility to determine condition or fitness of purpose. Bidder's failure to inspect any item or lot will not constitute grounds for any claim, refund, adjustment or 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, suitability for a particular purpose, etc. Auctioneer reserves the right to change, modify or 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 on-line auction related technologies, Halfhill Auction Group reserves the right to extend the bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor HALFHILL AUCTION GROUP 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 the Auctioneer.
Any dispute between Halfhill Auction Group, its agents or representatives and the buyer(s) will be tried in a court of jurisdiction in Fayette County, Kentucky. By bidding on the property, buyer agrees to all terms and conditions set forth.
Halfhill Auction Group 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 and conditions as every time you use this site you are agreeing to the terms and conditions as they are written at that time.
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 with Halfhill Auction Group.
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 Halfhill Auction Group at 859-338-5764 or 859-221-9373.
TIME IS OF THE ESSENCE in regard to all auction terms and conditions.