No Minimum Bid
ONLINE BIDDING ONLY
BIDDING ENDS TUESDAY, JUNE 25 @ 4:00 PM EDT
LOCATED IN FLOYD COUNTY at 4263 KY Route 850, Prestonsburg, KY 41653. From Prestonsburg take Highway 114 to Highway 404 turn left proceed 5 miles to Highway 850 turn left continue 4 miles to the home on the right near the Pyramid Community (signs posted).
BARR REALTY & AUCTION CO., INC. has been selected by Dana Stephens to conduct this online absolute auction. Auctioneers Mark Barr, Stephen Barr, Jamie Barr, Chris Barr, Dennie Armes and Bobby Carwile with offices in Hardinsburg and Brandenburg, KY.
20 ACRES & HOME
26 ACRES 3 ACRES
ONLINE BIDDING ONLY
Bidding Ends Tuesday, June 25 @ 4:00 PM EDT
Going on the auction block, selling by online bidding only will be PARCEL 1: Home and 20 acres with mature timber. The home is an approximately 1,550 square foot 3-bedroom brick home with one bathroom, kitchen with updated cabinets and hardwood flooring, living room with fireplace, family room with fireplace, other features include an attached 2-car carport with 10’x12’ storage room, natural gas furnace, central air conditioning, basement, public water, vinyl covered eves and overhang. The main level interior is in good condition. The basement leaks water and needs repairs. The buyer will receive all mineral, gas and oil rights that the sellers own, and they believe that they own them all. However, they make no guarantee of mineral, gas and oil ownership. The timber appraisal is complete, click the red document button above to view the report. The survey is completed, click the red document buttons above. PARCEL 2: 26 ACRES l PARCEL 3: 3 ACRES near 4238 Spurlock Creek Road, Prestonsburg, KY. From Prestonsburg on Highway 114 near the Comfort Suites hotel take a left on Highway 122 east on Spurlock Creek Road approximately 4 miles to the real estate. Parcel 2 is located on the left side of the Highway and Parcel 3 on the right side. PARCEL 2: consists of 26 acres of timberland. There is some level land along the Highway and the remainder is a hillside with mature timber. PARCEL 3: consists of 3 acres adjoining Spurlock Creek. The buyer will need to replace an existing bridge frame to access. Prestonsburg City water and Big Sandy RECC electric are available to Parcel 2 and Parcel 3. Please inspect prior to bidding. INSPECTION: The home will be available for inspection Saturday, June 22 from 1:00 PM to 3:00 PM EDT. You may inspect parcel 2 & 3 on your own anytime during daylight hours. If you need help placing a bid call us at 270-422-2136.
To view survey plats, air photos, and timber appraisal click on the red document button above.
1. Real Estate Terms and Conditions:
NOTE: If you require any type of government guaranteed loan such as VA, FHA, RHS or KY Housing Corporation, PLEASE DO NOT BID! There are no financing contingencies for homes sold at auction. If you are obtaining financing it is recommended that you use a conventional type loan only. You should speak with your loan officer prior to bidding to ensure that the financing can be completed within the allowed time frame and according to the terms and conditions as shown on the purchase contract agreement and addendum. Real Estate: PARCEL 1: $10,000, PARCEL 2: $5,000, PARCEL 3: $2,000 down within 48 hours of the auction ending time. Deposit to be made in the form of cash, cashier’s check, personal check with up to date bank letter guaranteeing funds or wire transfer. Balance due by July 25, 2019 by 4:00 PM EDT. Possession: date of deed. Other online bidding terms apply, see barrrealtyauction.com for details. TIMBER TERMS: N/A down on timber within 48 hours of the auction ending time. Deposit to be made in the form of cash, cashier’s check, personal check with up to date bank letter guaranteeing funds or wire transfer. Balance due by N/A. Twenty-four-month removal period. Possession on timber after the real estate parcel has closed. Other online bidding terms apply, see barrrealtyauction.com for details. BUYERS PREMIUM: A 10% buyer’s premium will be added to all winning bids to determine the final selling price. TAXES: 2019 property taxes to be paid by buyer. Other online terms apply, see the website for details. BUYERS PREMIUM: A 10% buyer’s premium will be added to all winning bids to determine the final selling price. IMPORTANT NOTICE: All property sold “as is where is” condition with no warranty or guarantee expressed or implied. Although information has been obtained from sources deemed to be reliable, neither the seller nor the auctioneer makes any warranty or guarantee, expressed or implied, as to the accuracy of the information herein contained. It is for this reason that buyers should avail themselves of the opportunity to make an inspection prior to the auction. All announcements take precedence over any printed material or any oral statements made. Not responsible for accidents.
2. This online only auction is a cash sale not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by bidders at registration prior to bidding and specified in the attached Agreement to Purchase Real Estate.
3. A Buyer’s Premium of 10% is added to the high bid. At the close of the auction, the successful Bidder will be emailed an Agreement to Purchase Contract to be executed and returned to Barr Realty & Auction Co., Inc. within Twenty-Four (24) hours. Successful Bidders will make their deposits in the form of cash, cashier’s check, or wire transfer with Barr Realty & Auction Co., Inc. within Twenty-Four (24) hours of the completion of the auction. The entirety of the remaining balance is due at closing on or before July 25, 2019.
4. Purchaser will be responsible for all wire transfers.
5. Per the Contract, time is of the essence; you should proceed to closing within Thirty (30) days. Possession shall be given to the successful Buyer(s) at closing. Any closing fees charged by the buyer(s) lender or closing attorney will be a buyer(s) expense.
6. Successful Bidders not executing and returning their Contract with Earnest Money deposit within Twenty-Four hours of the conclusion of the auction will be considered in default. If your closing is delayed for any reason, by you, as purchaser or other parties working on your behalf, including any lender you involve, you may be declared in breach of this contract, forfeit all deposits made and could be additionally liable for any and all costs incurred by Seller and Barr Realty & Auction Co., Inc. incurred in a subsequent resale of the property.
7. Buyer(s) must be prepared to make a cash offer. There are no contingencies to this sale (i.e. financing, appraisal, repairs or inspections). Therefore, you should be pre-qualified by a lender prior to bidding if you require financing. This property is being sold for cash “as is, where is.” with a closing deadline.
8. SERVER & SOFTWARE TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Barr Realty & Auction Co., Inc. reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the Company providing the software nor Barr Realty & Auction Co., Inc. shall be held responsible for a missed bid or the failure of the software to function properly for any reason.
9. Barr Realty & Auction Co., Inc. reserves the right to remove or cancel the bids and or bidding rights and privileges of any party at any time deemed not to be in the best interest of the seller. The identity of all bidders will be verified, bidding rights are provisional and if complete verification is not possible, Barr Realty & Auction Co., Inc. will reject the registration and bidding activity will be terminated.
10. Barr Realty & Auction Co., Inc. will make its best efforts to accept and submit your bids. However, due to possible equipment malfunctions, lapsed time due to internet connections or bidders not acting quickly enough we do not guarantee that a bid will be received and/or accepted. It is of no benefit to wait to the last second to submit a bid. In the event bidding is active the auto extend feature will automatically extend the time unless we inform you otherwise. It is for this reason that we highly recommend that you submit any and all bids as quickly as you can to ensure that it is received/accepted.
11. Auctioneers and/or a Barr Realty & Auction Company, Inc. representative have the option of reopening the bidding for any item if they deem a computer or electronic malfunction prevented a potential or existing bidder from placing bids. Even though a bidding time may have ended and the computer screen may show the bidding is CLOSED. The auctioneers and/or a Barr Realty & Auction Company, Inc. representative may reopen the bidding at their sole discretion.
12. Barr Realty & Auction Company reserves the right to change a bidder’s user name and/or password at any time for any reason.
13. Buyer acknowledges they are buying property “as is, where is”, without inspections or contingencies, Buyer(s) will rely on his/her own judgment and inspection.
14. Barr Realty & Auction Co., Inc. and their representatives are Exclusive Agents of the Seller(s).
15. Real Estate is sold subject to any and all existing matters of record and all easements building use or zoning laws and regulations. 2019 property taxes to be paid by buyer.
16. All Barr Realty & Auction Co., Inc. Online Only Real Estate Auctions are timed events that have an auto-extend feature. Any bid placed within 5 minutes of the auction ending will automatically extend the auction for 5 minutes from the time the bid is placed. Example: If an auction scheduled to end at 12:00 p.m. receives a bid at 11:59 a.m., the close time of the auction automatically extends to 12:04 p.m. The auto-extend feature remains active until no further bids are received within the 5 minute time frame.
17. IMPORTANT NOTICE: Bidders agree to keep their username and password confidential as they are responsible for ANY and ALL activity involving their account.
18. When using the website you must obey any and all local state and federal laws. Violations will result in termination of website use privileges.
19. Auction company employees and/or auction company may bid on auction items.
20. We gather aggregate information from this web site which may include but is not limited to: number of page visitors, most visited pages, any and all correspondence. All property sold “as is where is” condition with no warranty or guarantee expressed or implied. Although information has been obtained from sources deemed to be reliable, neither the seller nor the auctioneer makes any warranty or guarantee, expressed or implied as to the accuracy of the information herein contained. It is for this reason that buyers should avail themselves of the opportunity to make an inspection prior to the auction. All instant announcements from the auction company take precedence over any printed material or any oral statements made. Not responsible for accidents.
21. This is a binding agreement upon the buyer. If the buyer defaults on this agreement, the real estate can be sold again. The buyer will be responsible for paying the monetary difference between the selling prices and all expenses incurred in the resale including but not limited to advertising, promotion, sales fees, closing fees, buyers premiums, attorney fees and court costs.