Freije & Freije Auctioneers
Residential Real Estate, Land, Antiques, Art, & Collectibles, Farm & Heavy Equipment, General & Estate
Jul 21, 2017 - Friday, July 21, 2017 - 4:00 p.m. Eastern
Hwy 229 / Barbourville Road
London, KY This auction will be conducted at the London Community Center located at 529 South Main Street, London, KY on Friday, July 21, 2017 at 4:00 p.m. This auction will offer simulcast bidding.
Ford Brothers, Inc.
Phone #: (606)-679-2212
Phone #: (606)-878-7111
Toll Free: 800-526-1637
Mt. Vernon KY
Phone #: (606)-256-4545
Toll Free: 800-435-5454
Phone #: (859)-353-4446
Phone #: (606)-679-2212
Toll Free: 800-526-9430
PRIME 316 ACRES (OFFERED IN 22 TRACTS)
FRIDAY, JULY 21, 2017 – 4:00 P.M.
HWY 229 / BARBOURVILLE ROAD, LONDON, KY
The owners, G & G Farms, have authorized our firm to liquidate this property at Absolute Auction.
DIRECTIONS: From Interstate 75 Exit 38 in London, Kentucky, follow Hwy 192 East 2.2 miles and turn right / south onto Hwy 229. Proceed 4 miles to property on left. Auction signs are posted.
DESCRIPTION: This exceptional property is ideally located just a few minutes south of London Kentucky in a thriving area surrounded by residential subdivisions, tourism and businesses. The land is level to gently rolling and features 100’s of feet of road frontage on Highways 229 and 1189. The property will be offered in 22 tracts. 17 tracts range in size from 5 to 10.3 acres and offer road frontage on Highways 229 or 1189. 4 larger tracts range in size from 33 acres to 68 acres with access from Hwy 229 or Hwy 1189 (or both) and may have marketable timber. There is also a 1.2 acre tract on the corner of Highways 229 and 1189 which would be ideal for commercial use (across from Dollar General Store). These tracts will be offered individually and in combinations @ Ford Brothers’ Multi-Parcel auction.
This auction has something to offer many types of land buyers including residential developers, commercial developers, those in search of a few acres for a home site and even sportsmen / hunters.
This auction will be conducted at the London Community Center located at 529 South Main Street, London, Ky.
This auction will offer simulcast bidding.
TERMS: 20% down day of auction, balance due in full within 30 days.
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
TERMS AND CONDITIONS
ABSOLUTE AUCTION – This property is being sold at Absolute Auction with no minimum or reserve price(s).
PAYMENT - Terms of payment will be twenty percent (20%) of the gross purchase price down today in the form of cash or a check made payable to Ford Brothers Escrow. The twenty percent (20%) will be deposited Monday, July 24, 2017. The remaining balance of eighty percent (80%) will be due in full no later than August 21, 2017.
POSSESSION - The buyer(s) may possess the property upon payment in full and delivery of deed.
CLOSING COSTS – The purchaser(s) will be responsible for all closing costs with the exception of deed preparation and deed tax.
CONTRACT - Immediately upon conclusion of the auction, the buyer(s) will sign a sales and purchase contract.
PROPERTY TAXES - The 2017 property tax bill will be paid by Seller. Any delinquent property taxes, if applicable, will be paid out of the proceeds of the auction.
INSURANCE / RISK OF LOSS - The burden of insurance and risk of loss lies with the Seller until closing. Upon closing, the burden of insurance and risk of loss will transfer to the buyer.
PROPERTY CONDITION - The property is selling in its AS-IS condition. There are no warranties implied or expressed regarding the condition of the subject property. All the information provided by the auctioneer is for informational purposes only and should not be interpreted as a guarantee. Each prospective buyer should inspect the property thoroughly and verify all information on his/her own behalf before bidding.
REAL ESTATE ONLY - This auction is for real property only. This includes the land, buildings and permanently attached features. The Sellers personal property is not included in this sale.
PUBLIC AUCTION - This is a public auction open to anyone who can comply with the auction terms, including family members or Ford Brothers’ associates.
BUYER’S PREMIUM: The buyer(s) shall pay a Buyer’s Premium in the amount of 10% of their high bid. The high bid plus their 10% Buyer’s Premium will be the sale price.
BIDDER QUALIFICATION - Prospective Bidders must register for a bidder’s number. Registration is also an agreement to comply with all terms of the auction, both written and verbal.
EASEMENTS AND RESTRICTIONS - The property is selling subject to all easements of record and all easements shown on the map, as well as any restrictions of record.
SURVEY - This property has been surveyed by Peters Land Surveying. Copies of the plat map are posted throughout the facility. Small copies are available upon request.
MULTI-PAR AUCTION - This is a multi-par auction meaning that the bidding remains open until such time as the auctioneer declares all bidding closed. If you have bid on an individual tract or combinations of tracts and are still listed on the board as the top bidder for that individual tract or combination, you could still be the winning bidder depending upon what raises are made on your tract or other tracts.
BIDDERS REMAIN UNTIL CONCLUSION OF AUCTION - By utilizing the multi-par concept, it is possible for you to be the winning bidder in one round, lose it in the next round, and regain it in another round. Therefore, it is mandatory that if you are a bidder with your number posted on any white board, you must remain on the premises until the conclusion of the auction.
The minimum bid increment shall be $1,000 on any tract or combination of tracts.
This is a public auction open to anyone who can comply with written and verbal terms of sale.