Name Bankruptcy Auction | 1181 Baker Lane, Nicholasville, KY
Auctioneer McConnell Real Estate, Inc.
Type Live Webcast Auction
Date(s) 8/22/2020
Saturday, August 22nd, 2020 | 10:00am EDT
Preview Date/Time Sundays, August 9th & August 16th | 1:00 - 3:00pm EDT Masks & Gloves required to enter the residence.
Checkout Date/Time Immediately following the Sale
Location 1181 Baker Lane
Nicholasville, KY 40356
Buyer Premium Personal Property Only
Description
ABSOLUTE ESTATE AUCTION | ON-SITE & WEBCAST BIDDING Saturday, August 22nd, 2020 at 10:00am 1181 Baker Lane, Nicholasville, KY 40356 Executive Country Estate close to Town Spacious One & Half Story Brick House Includes Full Basement & 2 Car Attached Garage plus Metal Horse Barn & Outbuildings on 5.37 Ac Personal Property to be Auctioned after Real Estate 2011 MAHINDRA 4035 HST Tractor 4WD 2002 BIG VALLEY Tandem Horse Trailer 2008 YAMAHA Rhino Special Edition 700FI 4x4 FIMCO Manure Spreader Sale Authorized by United States Bankruptcy Court, Eastern District of Kentucky, Lexington Divison, Hon. Mark T. Miller, Trustee, Case #19-51632 RESIDENCE: Custom Built Home offers 4 Bedrooms & 3.5 Bathrooms. Main level features Owner's Bedroom with en-suite Bathroom, Formal Living Room, Dining Room, Kitchen with Breakfast Nook, Family Room with Fireplace, Entry Foyer, Half Bathroom. Second level features 2 Guests Bedrooms, Full Bathroom. Basement features Family Room with Fireplace, Guest Bedroom, Den, Full Bathroom, Ample Storage Rooms. Two (2) Car Attached Garage OUTBUILDINGS: Metal Horse Barn with Carport on Side (3 Horse Stalls, Water Hookups, Electric Panel Box); Run-in Shed, Detached Garage/Shed, Pond. DIRECTIONS: From Nicholasville: From US-27/Lexington Road turn on to Baker Lane... Property will be on the Left. Look for Auction Signs. From Lexington: Take US-27/Nicholasville Road into Nicholasville, then Turn Right onto Baker Lane... Property will be on the Left. Look for Auction Signs. AUCTION PREVIEWS: Sundays, August 9th & August 16th | 1:00 - 3:00pm Masks & Gloves required to enter the residence. This is an LIVE ONSITE AUCTION with Four (4) Ways to Bids. Option No. 1: Register Online and place Pre-Bids from our Website. Option No. 2: Between now and 5:00pm on August 21st, 2020... Call our Office at (859) 987-3212 or email us at auctions@soldbymcre.com to place absentee bids. Please leave your Maximum Bids. We will use them fairly and competitively as if you were in person at the LIVE ON-SITE Auction. Option No. 3: Register and Bid Live in Person On-Site outside at the Property Location. Option No. 4: Register Online Now; then Follow Along Live Online at 10:00am Saturday, August 22nd, 2020 and Place Bids Online during the Auction via Webcast from our Website.
Auction Terms & Conditions Terms on the Real estate Auction will require payment of 10% of the final sales price paid at auction close and the balance of sales price is paid on or before 45 days at closing with transfer of deed. Terms on Real Estate require a 10% down payment in US Dollars by Certified or Cashier's Check or verifiable funds with proper identification acceptable to the Sellers/Trustee and Auctioneer due at auction close and upon signing of the Auction Purchase Contract. The down payment, check made payable to Hon. Mark T. Miller, Trustee, will be deposited in Escrow Account. The balance is due in US Dollars (by cashier's check or certified funds) on or before October 6th, 2020, upon delivery of the deed. Failure to pay the balance due shall require the Purchaser to forfeit his or her down payment, execute a release in favor of the Sellers/Trustee and Auctioneer and be subject to all other remedies available to the Sellers/Trustee under the law. No one should make a Bid they do not want to honor or are unable to honor. There are no contingencies in the Auction Purchase Contract on obtaining financing. All willing and able parties, including heirs to the Estate, auction company employees and/or auction company representatives have the right to bid and purchase this property being sold at Bankruptcy Auction. Time shall be of the essence in closing this sale. McConnell Real Estate, Inc.'s agents and representatives are agents of the seller/trustee. Purchaser and/or bidder agrees to hold harmless and indemnify McConnell Real Estate, Inc. and its agents and its representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc. Purchasers and/or bidders agree to hold harmless, the Sellers/Trustee and Auction Agents for any damage to Property while being marketed and before closing date, and while people are inspecting this Property and during the Auction of the real estate and personal property. Property and Improvements are being sold "AS IS", with no warranties expressed or implied other than the title. Regardless of any information given by the Auction Agents, the Purchasers have examined this property and improvements and are relying solely upon such examination with reference to any easements, the condition, character, and size of the Land and All Improvements and all other information. Purchaser acknowledges Property is being sold subject to all existing easements, including utility easements, planning and zoning regulations of record. The responsibility of any grass mowing or upkeep of property grounds and property maintenance is the Purchaser's from today's date on. DEED: Title will be transferred by a recordable Special Warranty Deed, executed by the Sellers/Trustee and shall be conveyed in fee simple on or before October 6th, 2020. Time shall be of the essence in closing this sale. POSSESSION: Full Possession with Deed. Purchaser acknowledges and understands that any items left on the premises at time of Closing will then go with Property as the Sellers and/or Auction Agents shall NOT be required to clean anything up or remove any items left on premises. INSURANCE: The Seller(s) shall bear the cost of thereof and maintain hazard insurance on the property until date of vacancy. The current Insurance Coverage is with Shelter Company, 901 W. Lexington Avenue, Winchester, KY 40391, Agent: Olin Woolum (859) 744-8811 in the amount of $455,200.00 on the Residence. There is no coverage at present time on the remaining buildings but they are insurable. If said property is substantially damaged or destroyed by fire or other casualty prior to the closing of the transaction, PURCHASER shall proceed with the transaction in which event the Purchaser shall be entitled to all insurance money payable to Sellers under any and all policies of insurance covering the property so damaged or destroyed up to the amount of the sales price. After date of vacancy by Seller(s) the insurance coverage is no longer the responsibility of the Seller(s). The Purchaser shall have the right of obtaining any increase of coverage or additional Insurance coverage at the Purchaser's expense. REAL ESTATE TAXES: The real estate taxes on said property for the current year shall be adjusted in the following manner: all real estate taxes prior to 2020 are to be paid by the Seller/Trustee; 2020 real estate taxes will be prorated to date of the deed; and all subsequent years real estate taxes are to be paid by the Purchasers. INSPECTION and GUARANTEE: Property is available for inspection during dates and times set by the auctioneer. It is the bidder's responsibility to determine the usability or condition of auction items. All property is sold in "AS IS" and "WHERE IS" condition. All description information has been gathered from sources which we believe to be reliable but are not guaranteed. Auctioneer makes no warranty or guarantee of any kind with respect to condition, authenticity, provenance, source, condition, suitability for a particular purpose, etc. Bidder's failure to inspect any item or lot will not constitute grounds for any claim, refund, adjustment, charge back, etc. There are no warranties or guarantees of any kind. Auctioneer reserves the right to change, modify, delete any item or lot or description in the auction as may be necessary until the close of the auction. MINIMUM BID INCREMENTS: 'Minimum Bid Increments' are the minimum amount of money that anyone can increase the current winning bid. These amounts change by the dollar amount bid. Please see the Bid Increments schedule within each auction. BIDS: The auction will use a maximum bidding system. This makes bidding more convenient and less time consuming. Your account will bid for you using the 'minimum bid increment' until it reaches your maximum bid. You don't have to bid again every time someone outbids you until the current winning bid is above your 'Max Bid'. For example: You place a bid on an auction item which has a current high bid of $10 by entering the maximum amount you're willing to pay for the item (New Max Bid = $20). Your account will place a bid of $12 on your behalf ($10 current winning bid + $2 minimum bid increment). Then, someone else bids $14. Your account will automatically bid $16 on your behalf. Your account will continue to bid for you (using the minimum bid increments) until you reach your 'New Max Bid = $20'. When the current winning bid is more than your 'Max Bid', your account will not bid again for you (i.e. If someone else bids $22). You can change your New Max Bid until the auction closes. The seller and other bidders cannot see your New Max Bid. PAYMENT: Cash, Cashier's Check, Personal/Business Check, Credit Card (Visa, Mastercard, American Express, Discover with a 5.0% processing fee) or wire transfer. All fees incurred by wire transfers will be paid by the purchaser. All winning bids must be paid for in U.S. Dollars. All sales are final. Bidder agrees that there will be no refunds or adjustments for any reason(s). All purchases that have not been paid by Monday, August 24, 2020 at 6:00 pm EDT will be charged to the credit card used at registration, with an additional 5% late fee. 10% Buyers Premium added to determine Final Sales Price of Personal Property Auction Items. SALES TAX: Kentucky Sales Tax (6.0%) will be added to all taxable items sold. Anyone that is Exempt from paying sales tax must provide proper documentation to McConnell Real Estate, Inc. before bidding. PICK UP AND SHIPPING: All items must be picked up by the date(s) and time(s) stated in each auction. No shipping or loading assistance will be available. Removal of items from the auction location(s) are the sole responsibility of the buyer. Any items not removed from the auction location(s) by Monday, August 24, 2020 at 6:00pm EDT will, at the auctioneer's discretion, become the property of the real estate purchaser(s) or be discarded or resold with proceeds retained by auctioneer. There will be NO REFUND or adjustments given to the purchaser for these forfeited items. TECHNICAL ISSUES: Bidder agrees that neither the auctioneer nor the seller are liable for any technical issues that may occur. In the event there are technical difficulties related to the server, software or any other online auction related technologies, McConnell Real Estate, Inc. reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the servers, the software the internet connections nor the auctioneer SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. By bidding on the property, buyer agrees to all terms and conditions. McConnell Real Estate, Inc. reserves the right to alter this agreement at any time. This will take place by updating this site. Please check back and review these terms as every time you use this site as you are agreeing to the terms as they are written at that time. In the event of any dispute the auctioneer's decision is final. Any dispute between McConnell Real Estate, Inc., its agents or representatives and the Buyer(s) will be tried in a court of jurisdiction in Bourbon County, Kentucky. Auction company employees and/or auction company may bid on and purchase auction items. BIDDER DEFAULT: Failure to complete a purchase is illegal and will result in one or more of the following (1) prosecution (2) loss of bidding privileges for McConnell Real Estate, Inc. and all other HiBid auctions. If a bidder at any time feels his/her username, password or bidder number has been compromised due to lack of security by the bidder, notify the auctioneer immediately. For additional information, contact McConnell Real Estate, Inc. Auctioneers at 859-987-3212. TIME IS OF THE ESSENCE in regards to all auction terms. --------------------------------------------- ------------------------------------------ Terms Of Use

Seller User Terms

Bidder User Terms
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 95.00 5.00 USD
95.01 - 975.00 25.00 USD
975.01 - 49,900.00 100.00 USD
49,900.01 - 249,500.00 500.00 USD
249,500.01 - 499,000.00 1,000.00 USD
499,000.01 - 995,000.00 5,000.00 USD
995,000.01 - 9,999,999.99 10,000.00 USD
Currency USD
Buyer Premium Personal Property Only
Payment Terms
Terms on the Real estate Auction will require payment of 10% of the final sales price paid at auction close and the balance of sales price is paid on or before 30 days at closing with transfer of deed. Terms on Real Estate require a 10% down payment in US Dollars by Certified or Cashier's Check or verifiable funds with proper identification acceptable to the Sellers/Trustee and Auctioneer due at auction close and upon signing of the Auction Purchase Contract. The down payment, check made payable to Hon. Mark T. Miller, Trustee, will be deposited in Escrow Account. The balance is due in US Dollars (by cashier's check or certified funds) on or before September 22nd, 2020, upon delivery of the deed. Failure to pay the balance due shall require the Purchaser to forfeit his or her down payment, execute a release in favor of the Sellers/Trustee and Auctioneer and be subject to all other remedies available to the Sellers/Trustee under the law. No one should make a Bid they do not want to honor or are unable to honor. There are no contingencies in the Auction Purchase Contract on obtaining financing. All willing and able parties, including heirs to the Estate, auction company employees and/or auction company representatives have the right to bid and purchase this property being sold at Bankruptcy Auction. Time shall be of the essence in closing this sale. Cash, Cashier's Check, Personal/Business Check, (Visa, Mastercard, American Express, Discover with a 5.0% processing fee) or wire transfer. All fees incurred by wire transfers will be paid by the purchaser. All winning bids must be paid for in U.S. Dollars. All sales are final. Bidder agrees that there will be no refunds or adjustments for any reason(s). All purchases that have not been paid by Monday, August 24, 2020 at 6:00 pm EDT will be charged to the credit card used at registration, with an additional 5% late fee.
Pickup Period is immediately following the sale or by appointment only.