Baker Auctions & Real Estate – Auction Terms & Conditions

Willie Baker – Principal Auctioneer/Broker

Auction Property

City of Perryville Vacant Commercial Lot

206 W. 2^nd St. Perryville KY 40468

Auction Date/Time/Location

Online Only Bidding ends October 18, 2021

Registration

Register Online

Auction Sale Type

Online Only Bidding with Extended Bidding

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 45 days post auction.

Possession

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

Real Estate Property Taxes

2021 Real Estate Taxes shall be the Buyers Responsibility.

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 to coordinate the closing.

Property Inspection

Property may be viewed or inspected at the potential buyer’s convenience.

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

If you are financing the property, please be prepared to present a letter of intent to loan from your financial institution.

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!

City of Perryville Commercial Lot

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