ONLINE ONLY REAL ESTATE AUCTION – 13.99± ACRES WITH HOME – SALEM, KY

REAL ESTATE TERMS AND CONDITIONS

PROCEDURE: The property will be offered as one tract of 13.99± acres through online-only bidding. This is a reserve auction.

BUYER’S PREMIUM: A 10% buyer’s premium will be added to the final bid and included in the contract price.

DOWN PAYMENT: 15% of the contract sales price is due as a down payment [on the day of the auction / within __ hours of the auction close], with the balance in cash at closing. The down payment may be made by cashier’s check, personal check, or corporate check. Any buyers unknown to Harris Real Estate & Auction must provide a bank letter with any check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.

CLOSING: Closing shall take place on or before 30 days from the auction date.

SURVEY: The property is sold by deed, not by survey. No survey will be provided.

LEAD BASED PAINT: Buyer will be required to sign a lead based paint disclosure waiving the opportunity to conduct a 10 day post sale inspection. Make all inspections prior to the day of sale.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information in this listing and all related materials is subject to the terms and conditions outlined in the Purchase Agreement. ANNOUNCEMENTS MADE BY THE AUCTION COMPANY AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL, OR ANY OTHER ORAL STATEMENTS MADE. The property is sold “AS IS, WHERE IS.” Neither the Seller nor the Auction Company makes any warranty or representation, express or implied. Each bidder is responsible for their own independent inspections, investigations, inquiries and due diligence. The information provided is believed to be accurate but is subject to verification by all parties relying on it, and no liability is assumed for its accuracy, errors or omissions. All sketches and dimensions are approximate. There is no warranty of merchantability or fitness for a particular purpose, and no liability is assumed for consequential damages. The conduct of the auction and the bidding increments are at the direction and discretion of the auctioneer. The Seller and Auction Company reserve the right to preclude any person from bidding if there is any question as to that person’s credentials or fitness. All decisions of the auctioneer are final.

NEW DATA, CORRECTIONS, AND CHANGES: Please check the online auction listing before bidding closes for any changes, corrections, or additions to the property information.