612 Lancaster St. Stanford KY

Baker Auctions & Real Estate – Auction Terms & Conditions

Willie Baker – Principal Auctioneer/Broker

Auction Property

612 Lancaster St. Stanford KY, 40484.

Auction Date/Time/Location

Saturday February, 2022. 10:37 a.m. – Live Onsite – Online Simulcast Bidding available. Online Pre-Bidding Available

Registration

Registration will begin at 9:30 a.m.

Auction Sale Type

Absolute to the Highest Bidder regardless of price.

Buyer’s Premium

A 10% Buyer’s Premium will be added to the high bid and included in the total contract purchase price.  Example: High bid of $100,000.00 plus 10% Buyer’s Premium = $110,000.00 contract purchase price.

Absentee/Phone Bidding

Absentee or Phone Bidding arrangements can be made prior to Auction Day by contacting the Auctioneer, Willie Baker, at 859-319-1520.

Terms of Sale

The successful bidder(s) shall be required to enter into a non-contingent auction agreement and deposit 10% of the contract purchase price in the form of Cash, Certified Funds, or approved personal check immediately following the auction.  The balance of the purchase price shall be paid on or before April 7, 2022.

Possession

Possession shall be granted with deed transfer, subject to any existing liens, tenants, or occupants if applicable.

Real Estate Property Taxes

2022 Real Estate Taxes shall be pro-rated.

Insurance

The successful purchaser of the subject property is hereby notified that they may wish to insure their interest in the property to the day of deed transfer, if applicable.

Closing & Title

The Buyer is responsible for hiring their own Attorney to perform title work, prepare closing documents, and execute the closing.  Buyer is responsible for their own Attorney’s fees.  Auctioneer must be notified of closing attorney’s contact information in order to coordinate the closing. 

Property Inspection

Open Auction Preview will be on February 19, 2022 from 2:00 p.m. to 4:00 p.m. or by appointment only.

Special Notice

This property is being offered “AS – IS, WHERE IS”, and with all faults, with no Warranties expressed or implied of any kind.  Property shall be conveyed with an insurable title by “General Warranty” deed with no liens or encumbrances, other than existing covenants, restrictions and easements of record.  Bidders should carefully verify all information and make their own decisions as to accuracy thereof before bidding.  The successful bidder today will be required to waive their right to a Lead Based Paint inspection, if applicable.

Special Condition:  This home does have some visible flaws. 

Bidder’s Acknowledgement

By signing below, You, as a successful bidder agree to the terms and condition stated herein. This document is part of the non-contingent contract sale to purchase the property.  This is a public offering open to all!

Signature:                                                                                Date:                                                  

Bidder’s Name/Phone Number:                                                                                            

Address:                                                                                                                                 

Announcements made day of sale take precedence over any previous advertisements!

Closing shall take place on or before April 7, 2022.