ABSOLUTE REAL ESTATE AUCTION
WHEN: SATURDAY, November 23rd, 2019
TIME: 10:00 AM (EST)
WHERE: 460 Paynes Depot Road, Lexington, KY 40511
5 BEDROOM HOME ON 75 BEAUTIFUL ACRES SELLING IN 1 TRACT!
3 BARNS – 42 STALLS – 6 PADDOCKS
Located Only Moments From the Kentucky Horse Park!
REAL ESTATE DETAILS: As You Drive Through The Private Security Gates Of The Glen Ridge Farm You Will Find A Charming All Stone, Two Story, 5 Bedroom 2 Bath Home With A Stunning Inground Pool. This Beautiful Property Boasts 3 Barns With Security Cameras, 42 Horse Stalls, 6 Paddocks, A Round Pen, Run-In Shed, And Plank Fencing. Also Enjoy A Private Stocked Pond!
There Is A Private Sistern & County Water Available!
PLEASE NOTE: This property has a Lexington address, but is located in Scott County
Open House/Inspection Dates:
Saturday, Nov. 16th & Sunday Nov. 17th from 1-3 PM (EST)
In Partnership with KASSIE BENNETT OF KASSIE & ASSOCIATES! 1.859.559.5969
NO BUYERS PREMIUM!!
REAL ESTATE SELLS ABSOLUTE TO THE HIGHEST BIDDER AT 10:00 AM (EST)
AUCTION TERMS AND CONDITIONS
All current year ad valorem real estate taxes not yet due and payable and all taxes due thereafter shall be paid by the purchaser.
At the conclusion of the auction, the winner will be notified and required to sign a Purchase Agreement and Sale Bond.
The purchaser is required to pay interest on the Sale Bond at the rate of 7.25% per annum from date of sale until payment is paid in full. The purchaser is also required to provide a letter of credit or proof of available funds for the amount of the bond at the time of the auction.
This risk of loss passes upon confirmation of the Report of Sale of the property filed by the Scott Circuit Court Master Commissioner in the Civil Action No. 19-CI-00411, Kentucky Bank vs. Susan M. Forrester, et al., Scott Circuit Court.
Possession of the Real Property is given on the date the purchase price is paid in full and the sale is confirmed by the Scott Circuit Court.
The purchaser will be required to make a non-refundable 10% good faith deposit at the conclusion of the auction, either in person or through wire transfer.
Should the purchaser default, the good faith deposit will be forfeited and legal action may be taken against the purchaser. The purchaser shall have ten (10) days from the date of filing of the Report of Sale in which to file exceptions with the Scott Circuit Court for any defects in the title.
The good faith deposit will be payable to the Master Commissioner of the Scott Circuit Court and held by the Master Commissioner pending closing.
The property is conveyed by deed of the Master Commissioner pursuant to order of Scott Circuit Court.
The purchaser will have 30 days to close.
This auction is governed by the terms and conditions of the Default Judgement, Agreed Judgement, and Order For Public Auction Sale entered in Civil Action No. 19-CI-00411, Scott Circuit Court styled Kentucky Bank vs. Susan M. Forrester, et al. In the event there should be a discrepancy between the terms and conditions set forth herein and the terms and conditions of the Judgment and Order of Sale referred to hereinabove, the terms of the Judgement and Order of Sale shall prevail.
All bidders should carefully verify all information and make their own decisions as to the accuracy thereof before bidding.
Although every precaution has been make to ensure accuracy, neither Harris Real Estate & Auction nor their agents will be responsible for any errors or omissions of any information.
This property is to be sold as-in with no warranty. It is the bidder’s sole responsibility to inspect the property and be satisfied as to its condition before bidding.
No conditions may be added to the Purchase Agreement by the purchaser.
All Inspections Must Be Made Before the Auction.
By bidding, all bidder’s acknowledge that they agree to these terms and conditions.