3.08± ACRES WITH 30' X 40' BUILDING – MAYFIELD, KY

TERMS AND CONDITIONS

AUCTION METHOD: This is an Online Only Absolute Real Estate Auction. The property will be offered as one individual tract and will sell to the highest bidder regardless of price.

BUYER'S PREMIUM: A 10% Buyer's Premium will be added to the final bid and included in the deed transaction sale price.   

DOWN PAYMENT: The successful purchaser will be required to deposit 15% of the total purchase price on the day of the auction, with the balance due within 30 days from the auction date.  

FINANCING: The purchase is not contingent upon financing. Bidders should have financing arranged, if needed, prior to bidding and be prepared to complete the purchase according to the terms of the sale.

CLOSING: Closing shall take place and the remaining balance shall be due within 30 days from the auction date.     

POSSESSION: Possession of the real estate shall be given on or before 30 days from the Absolute Auction Date.    

SURVEY: The property will be sold according to the current deed. 

TITLE: Seller agrees to convey a free, clear and unencumbered, marketable title by general warranty deed, subject to easements and restrictions of record, applicable planning and zoning restrictions, and any other exceptions provided for in the auction contract.     

CLOSING COSTS: Seller shall pay for preparation of the deed and applicable transfer tax stamps or other documentary stamps. Buyer shall be responsible for title examination fees, title insurance premiums and other costs necessary for Buyer to satisfy themselves as to the sufficiency of title; recording of the deed; preparation and recording of any mortgage or other documents necessary to secure indebtedness; and Buyer's attorney closing fees.     

PROPERTY CONDITION: The property is being sold “AS IS.” Seller makes no representations or warranties regarding the property or its condition. Each bidder is responsible for conducting their own inspections and investigations prior to bidding. Buyer is responsible for any permits, inspections or repairs required concerning the property. 

DUE DILIGENCE: All property information, acreage, dimensions, photographs, maps and other marketing materials are provided for informational purposes. Prospective bidders are responsible for independently verifying property information and completing all desired inspections, investigations and due diligence prior to bidding.

ONLINE BIDDING: Bidders acknowledge that there are inherent risks associated with online auctions. Harris Real Estate & Auction is not responsible for false bids or issues outside its control associated with online bidding.   

ABSOLUTE AUCTION: This property is being offered at Absolute Auction and will sell to the highest bidder regardless of price. No fraudulent bids will be accepted.

AUCTION COMPANY: Harris Real Estate & Auction reserves the right to administer the online auction in accordance with the auction terms and conditions.