Name Real Estate Auction - Springcut Road House & Lot
Auctioneer Interstate Auction & Realty
Type Online-Only Auction
Date(s) 5/8/2018 - 5/29/2018
Internet Only Real Estate Auction Bidding Ends May 29th at 1:00 PM EST
Preview Date/Time By appointment. Contact us to make arrangements to view the property.
Checkout Date/Time 10% down payment is due on auction day with the balance due within 30 days.
Location 2921 East Hwy 1223
Corbin, KY 40701
Buyer Premium Internet Auction
Absolutely beautiful location! This property is located just minutes from Hwy 25, yet secluded with green rolling pastures all around. The property is improved by a 2 bedroom, 1 bath farmhouse and multiple outside buildings.
10% buyers premium will be added to the final bid price to determine the sales price, 10% NON REFUNDABLE down payment due on auction day by 6:00 pm with the balance due within 30 days. Property selling AS-IS with no guaranties or warranties expressed by the sellers or the auction company. Property is sold subject to all easements of record including but not limited to city access and utilities. All inspections of properties should be done prior to bidding, inspections can be arranged by contacting our office. Property was built before 1978 and under Federal law a lead based paint disclosure must be signed. If you would like to inspect for lead based paint, the inspection period is May 15th-28th. Please note that all information is published for the convenience of buyers and should not be relied up exclusively. The successful high bidder on each property will be required to sign a Real Estate Purchase Agreement by 6:00 PM on the day of the auction, and will make an earnest money deposit of ten percent (10%) of the total sales price payable to Interstate Auction & Realty Escrow Account. The balance is to be paid in full at the deed closing within 30 days. The contract will not be contingent upon financing. Current taxes will be prorated at the date of closing. Seller has the option of extending the contract 30 days to correct an unforseen title issues that may arise. All Measurements are from independant surveys and tax records and not guaranteed by the seller or the auction company. Internet Bidding – Interstate Auction & Realty, Auctioneers, employees, or represented sellers will be held harmless in the event of techinchal difficulties beyond our control. Interstate Auction & Realty will not be held resposible if internet service fails to function properly, power outages occour, or software fails to function before, during or after the auction. Interstate Auction & Realty format is a “Timed Online Auction Event” that replicates a live auction scenario. In the event that a bid is placed in the final 5 minutes of the auction, the ending time will be extended for an additional 5 minutes to allow additional bids to be accepted. You may at any time enter your “Maximum Bid” and the computer software program will bid on your behalf up to your bid limit. If for any reason you need assistance please contact our office and we will be happy to assist you in the bidding process. A. Property 1) Seller will convey the Property by General or Special Warranty Deed. 2) The Property is selling subject to, and any Contract is not contingent upon, any state of facts an accurate survey or personal inspection of the Property may reveal, any existing rights-of-way, easements, or claims to easements, encroachments, rights or claims of parties in possession, restrictive and protective covenants, flood zones, zoning, or subdivision regulations, building codes, health and safety codes, governmental agencies regulations, environmental conditions, hazardous materials, leases or tenancies, any mineral rights, reservations or leases, and subject also to all title exceptions as set forth in the Title Commitment that is available for inspection. B. Property Inspection 1) It is the Purchaser's sole responsibility to: a) perform all inspections (legal, environmental, economic or otherwise) of the Property and to be satisfied as to its condition prior to bidding; b) review all property information and due diligence materials; c) independently verify any information they deem important including information available in public records; and d) inquire of public officials as to the applicability of and compliance with land use and environmental laws, zoning, building and health & safety codes and ordinances and any other local, state or federal laws and regulations. 2) All information contained in the auction brochure and all promotional materials, including, but not limited to, photographs, directions, acreage, square footage, dimensions, zoning, maps used for promotion, environmental conditions, taxes, etc., was provided by or on behalf of the Seller and is believed to be correct; however, neither the Seller nor the Auction Company makes any promise, representation, guarantee, or warranty as to the accuracy or completeness of such information. There is no obligation on the part of Seller or Auctioneer to update any information. Purchaser and Purchaser's broker shall be responsible for verifying all acreage and square footage amounts through public records. C. Default In the event the Purchaser fails to close and pay his/her balance when due, Seller reserves all rights allowed by law and the sales contract, including a suit for damages, specific performance or cancellation of the sale with the Seller to retain the earnest money deposit. Any action taken after default shall be solely at the Seller's option with all costs incurred by Seller being paid by the Purchaser. Any contract disputes will be tried or mediated in Laurel County Kentucky. D. Disclaimer 1) Personal on-site inspection of the property is recommended and bidders are advised to independently verify all information they deem important. This Property is being sold "As-Is, Where-Is" and with "All Faults". The Seller and Auctioneer have not made, do not make and will not make, and hereby disclaim, any representation or warranty, whether expressed or implied or statutory, whether oral or written, with respect to the Property, including, without limitation, any warranty as to its value, condition, acreage, square footage, suitability, merchantability, marketability, operability, zoning or subdivision regulations, mineral rights, environmental condition or fitness for a particular use or purpose. No Guarantees are given as to the availability of utilities or accesses, or the permitted or allowable uses of the Property
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 20.00 1.00 USD
20.01 - 295.00 5.00 USD
295.01 - 500.00 10.00 USD
500.01 - 975.00 25.00 USD
975.01 - 19,900.00 50.00 USD
19,900.01 - 750,000.00 100.00 USD
750,000.01 - 9,999,999.99 10,000.00 USD
Currency USD
Buyer Premium Internet Auction
Payment Terms
Real Estate: 10% down payment is due on auction day with balance due within 30 days. Please refer to the terms and conditions for further real estate payment terms Personal Property Terms (IF APPLICABLE): A 10% buyers premium will be added to the high bid price to determine the sales price. 6% Kentucky sales tax will be added to all items with the exception of the auto and motorcycle unless you provide a valid tax resell number. Please be aware that only items purchased for resell can be tax exempt. All tax ID numbers must be preapproved by the auction company. Items are available for pickup on Thjursday following the auction and Friday from 1:00 -4:00 pm. You may bring cash or local check at the time of pickup. Credit cards on file will be billed for anything not picked up on Friday. Anything not picked up during the alloted pickup time will be considered abandoned. NO REFUNDS WILL BE GIVEN. It is the buyers responsibility to load all items. Payment by credit card will be processed with a 3% fee.