1312 Elizabeth Street Auction

Auction Terms and Conditions:

BUYER’S PREMIUM: A 7% BUYER’S PREMIUM WILL BE ADDED TO THE HIGH BID TO DETERMINE THE CONTRACT SALES PRICE OF THE REAL ESTATE.

BIDDER REGISTRATION DEPOSIT: Vette City Real Estate & Auction Co. LLC requires a $1,000.00 registration deposit by Credit Card prior to bidding in order to participate in this REAL ESTATE AUCTION. The $1,000.00 is NOT CHARGED, it is a deposit that is held by your Credit Card Company up to 7 days. The $1,000.00 is charged only if you make purchases during an auction. If you do not make a purchase, you will not be charged. This is a separate transaction and will have no charges against your account. This however may show up as a pending transaction on your account. This is an Industry Standard Practice among Internet Auctions.

.PROPERTY IS OFFERED SUBJECT TO THE SPECIFIC TERMS PROVIDED IN THE PURCHASE CONTRACT. 

TERMS AND PAYMENT: THERE WILL BE A DOWN PAYMENT DUE ON THE LAST DAY AND TIME OF THE AUCTION. The down payment will be 10% of the purchase price of the Real Estate. It shall be submitted as a non-refundable down payment in the form of a check (with proper identification), cash, certified funds, or wire transfer on the day of the auction. If (YOU) it is an internet buyer (NOT ABLE TO BE ON SITE AT AUCTION END TIME), the payment must be received by Tarter Real Estate and Auction Co. and Auction Co. Escrow Account within 48 hours of the day of the auction. We cannot accept a credit or debit card for down payment. The balance of the purchase prices is due at closing. Purchaser shall be responsible for all wire transfer fees. If other arrangements need to be made contact Lloyd Ferguson at (270)792-6275.

PROPERTY SOLD "AS IS": The property is sold without contingencies of any type such as further inspections, usability, or the ability of the buyer to secure financing, and subject to any valid easements. All property is sold “as is”.

Online and onsite auctions are cash sales that are not contingent on or subject to financing, appraisal, survey, or inspections of any kind. Bidders agree to this by registering for the auction prior to bidding, and this is specified in the purchase contract for the real estate. Bidders are encouraged to perform on-site inspections of the real estate prior to bidding in the auction. Failure to do so in no way relieve the buyer of any of the terms or conditions set forth here.

INSPECTION: The real estate may be viewed prior to the auction date by appointment with Tarter Real Estate and Auction Co. and Vette City Real Estate and Auction Co. LLC, and will be available for inspection before sale time on the day of the auction. Prospective buyers are advised to inspect the property to their satisfaction as it will be sold “as is” with no warranties expressed or implied.

LEAD BASE PAINT NOTICE: The residence was built prior to 1978 and could contain lead base paint. The purchaser will be required to sign a lead base paint waiver, waiving any further inspections

RENTS AND TAXES: Real Estate Taxes will be prorated between buyer and seller as of closing date.

POSSESSION: Possession shall be given with Deed.

DEED: GENERAL WARRANTY DEED

AUCTION BID INCREMENTS: The Auctioneer shall determine the bid increments, which may be changed during the auction at his/her discretion.

WHO MAY BID: Any qualified bidder, including the auctioneer and any of the auctioneer's agents, may bid. Likewise, the auctioneer may, under Kentucky law, reject the bid from any bidder deemed unqualified or unfit to bid.

AGENCY: Vette City Real Estate and Auction co. LLC, Agents and Representatives are agents of the Seller. `Buyer and or Bidder agree to hold harmless and indemnify Vette City Real Estate and Auction Co. LLC and its Agents and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.

REFRESH YOUR SCREEN CONSTANTLY DURING THE CLOSING MINUTES OF THE AUCTION TO KEEP UPDATED ON THE BIDDING.

SERVER SOFTWARE AND TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Vette City Real Estate and Auction Co. LLC reserves the right to extend bidding, continue the bidding, or close the bidding.

NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR VETTE CITY REAL ESTATE AND AUCTION CO. LLC AND TARTER REAL ESTATE & AUCTION CO. SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERTY FOR ANY REASON. EMAIL NOTIFICATIONS WILL BE SENT TO REGISTERED BIDDER WITH UPDATED INFORMATION AS DEEMED REASONABLE BY VETTE CITY REAL ESTATE AND AUCTION CO. LLC.

AUCTION BIDDER DEFAULT: A 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 earnest money deposit within the allotted time, the winning bidder will be charged a penalty of no less than 10% of the winning bid. Any legal remedy available may be used to collect these charges. Additional default remedies are reserved by Vette City Real Estate and Auction Co. LLC and the Seller as provided in the Auction Terms and Conditions and the Contract for Sale of Real Estate. Vette City Real Estate and Auction Co LLC. 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

AUCTIONEER'S NOTE: All information contained on the website, advertising, and all related materials should be verified by all interested parties. All interested bidders are responsible for conducting their own independent inspections and tests.

DISCLAIMER: Information contained herein was obtained from sources deemed to be reliable. However, neither the auctioneers, agents, nor the Seller shall be responsible for any errors or omissions herein. Announcements made the day of the sale shall take precedence over any prior advertising or other information.