LAND AUCTION 52+/- AC MADISONVILLE, KY

TERMS & CONDITIONS

PLEASE READ AND REVIEW THE REAL ESTATE TERMS THOROUGHLY PRIOR TO BIDDING ON ANY PROPERTY. IF YOU HAVE NOT READ AND UNDERSTAND THESE TERMS, DO NOT BID. BY BIDDING ON THE PROPERTY, BUYER AGREES TO ALL TERMS AND CONDITIONS SET FORTH AND ENTERS INTO A CONTRACTUAL AGREEMENT TO PURCHASE THE PROPERTY UNDER THE FOLLOWING TERMS AND CONDITIONS:

Property Location: 54+/- Acres Offered in 5 Tracts on Eastlawn Rd. in Madisonville, KY

Auction Location: MadCity Event Center - 31 E Center Street, Madisonville, KY 

Pre-Bidding: Pre-Bidding Begins: 10/15/2024 @ 12:00 PM CT; Pre-Bidding Ends: 10/22/2024 @ 5:30 PM CT

Procedure: This property will be offered in 5 (FIVE) Tracts. There will be open bidding during the auction as determined by the Auctioneers. The property will be sold in the manner resulting in the highest total sale price.

Seller's Acceptance: Property will sell with the high and final bid(s).

Acceptance of Bid Prices: All successful bidders will be required to enter into Purchase Agreements at the auction site immediately following the close of the auction. Purchase Agreements are available for review prior to the auction.

Buyer's Premium: There will be a 7% Buyer's Premium added to the final bid and will be included in the total sales price.

Taxes: 2024 taxes will be prorated between Buyer(s) and Seller(s) at closing.

Down Payment: 10% as down payment on the day of the auction with the balance in cash at closing on or before closing or before 45 days. The down payment may be in the form of cashier’s check, personal check, or corporate check. Down payment is not refundable. Your purchase is not subject to financing. If the winning bidder is an online bidder, the down payment must be wire transferred or delivered by check by October 23rd, at 5 PM CST.

Date of Closing: The closing will take place on or before December 6th, 2024.

Possession: Possession will take place at closing.                                                                                                        

No Contingencies: This Real Estate contract is not contingent on or subject to Buyer’s financing, appraisal, survey or inspections of any kind or any other contingencies as agreed to by bidders at registration prior to bidding.

YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.

Zoning & Easements: Property is being sold subject to any and all easements of record. Property is subject to all state and local zoning ordinances.

Aerial Photos, Images and Drawings: These are for illustration purposes only and not surveyed boundary lines unless specified.

Disclaimer & Absence of Warranties: All information contained in this brochure and all related materials is subject to the Terms and Conditions outlined in the Purchase Agreement. The property is being sold “AS IS, WHERE IS” basis, and no warranty or representation, either express or implied, concerning the property is made by the Seller or Auction Company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information presented in the brochure, website and all other mediums is believed to be accurate but is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. All sketches & dimensions in this brochure are approximate. Except for any express warranties set forth in the sale documents, purchaser(s) assume all risks thereof & acknowledges that in consideration of the other provisions contained in the sale documents, Seller & Auction Company make no warranty or representation, express or implied or arising by operation of law, including a warranty of merchantability or fitness for a particular purpose of the property, or any part thereof, and in no event shall Seller or the Auction Company be liable for any consequential damages. Conduct of the auction & increments of bidding are at the direction & discretion of the auctioneer. The Seller & The Auction Company reserves the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc. All decisions of the auctioneer are final.

Disclaimer: All information included herein was derived from sources believed to be correct but is not guaranteed.

New Data, Corrections, and Changes: Please check for updated information prior to scheduled auction time to inspect any changes, corrections, or additions to the property information.

Property Inspection: Each potential bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries, and due diligence concerning the property. Further, Seller disclaims any and all responsibility for Buyer’s safety during any physical inspection of the property. No party shall be deemed an invitee of the property by virtue of the offering of the property for sale. Please contact Ben Bolinger at 270-889-7848 or Kirk Dulan of Legacy Land Co at 270-484-1476.

Online Bidder Registration: The person agreeing to these terms is personally responsible for any bids placed on this auction, whether bidding on behalf of their personal account or on behalf of a corporation or other third party. If you are bidding on behalf of a third party, you are responsible for obtaining the necessary documentation authorizing you to bid on behalf of the third party. Bolinger Real Estate & Auction will look to the herein registered bidder for performance on any bid placed on this auction if you are the successful high bidder.

Seller Representation: Bolinger Real Estate & Auction represents the Seller in this transaction.

Credit Card Authorization: It is a requirement to enter a valid credit card in order to bid online in ANY auction on our website. The card entered will be authorized for $1.00. If bidding in a real estate auction, your down payment will need to be in the form of wire transfer or check. See Down Payment terms above for more information.

Age Requirement: All bidders must be at least 18 years of age or older.

Bidder Information & Security: All registration information the bidder provides to Bolinger Real Estate & Auction, LLC shall be current, complete & accurate. All bidders are responsible for any bids placed under their bidding numbers and password. The security of bidder information is the responsibility of the bidder. Bidders must notify Bolinger Real Estate & Auction, LLC if they believe that their bidder number and password have been compromised.

Technology Disclaimer:  Bolinger Real Estate & Auction, its affiliates, partners, and vendors, make no warranty or guarantee that the online bidding system will function as designed on the day of sale. Technical problems can and sometimes do occur. If a technical problem occurs and you are not able to place your bid during the live auction, Bolinger Real Estate & Auction., its affiliates, partners and vendors will not be held liable or responsible for any claim of loss, whether actual or potential, as a result of the technical failure. I acknowledge that I am accepting this offer to place bids during the auction over the Internet or over the phone.

Conduct of the Auction: Bolinger Real Estate & Auction, LLC reserves the right to reject any and all bids for any reason and also reserves the right to cancel this auction or remove any item or lot from this auction prior to the close of bidding. All decisions of Bolinger Real Estate & Auction are final.

YOUR BID ON THIS AUCTION INDICATES BOTH AN UNDERSTANDING AND AN ACCEPTANCE OF THE TERMS OF THIS CONTRACTUAL AGREEMENT BETWEEN YOURSELF AND BOTH THE SELLER AND BOLINGER REAL ESTATE & AUCTION AND THAT YOU, AS THE BIDDER, ARE PREPARED TO PURCHASE THE PROPERTY UNDER THE TERMS AND CONDITIONS OF THIS AUCTION.

ANY ANNOUNCEMENTS MADE BY THE AUCTION COMPANY AT THE AUCTION PODIUM DURING THE TIME OF THE SALE TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL, OR ANY OTHER ORAL STATEMENTS MADE.