TERMS AND CONDITIONS
ABSOLUTE AUCTION OF
MR. RONNIE WILCHER’S
47 ACRES MORE OR LESS IN TRACTS
SATURDAY, APRIL 19TH, 2014 @ 10:00 A.M.
On behalf of Mr. Ronnie Wilcher and Ford Brothers, Inc., we would like to thank you for coming and welcome you to the auction. Listed below are the terms and conditions which must be complied with in order to bid on the property.
1.) The property is being sold in its “AS IS, WHERE IS” condition. Any announcement made at the auction will supersede any information contained herein or in any advertisement.
2.) All information in the brochure is strictly for sales purposes. The purchasers are encouraged to inspect the property to their satisfaction before bidding.
3.) The property is selling free and clear of all liens and encumbrances except restrictions, easements of record, and further provisions the purchaser is made aware of through this terms document. The property is being sold subject to electric and water line easements.
4.) Upon completion of the auction, the purchaser will need to sign all of the necessary documents and contracts. A non-refundable deposit in the form of: cash, cashier’s check or a personal check, if known by the auctioneers, on the property must be tendered. The deposit will be held in escrow pending closing. The deposit shall not be less than 20% of the purchase price and shall be paid today with the balance being due within 30 days (on or before Monday, May 19th at 5:00 p.m.) All closing checks are to be made payable to Ford Brothers Escrow Account.
5.) The seller shall be responsible for all transfer taxes and deed preparation fees. The buyer shall be responsible for ordering and purchasing his/her own title search, for recording his/her deed, and any other closing costs involved in completing the sale. Title insurance can be obtained at the purchaser’s expense.
6.) The property has been surveyed by A.G.E. out of Stanford, KY and copies of the plat are available. Each tract has been staked and pinned on the corners.
7.) This is a multi-par auction meaning that the bidding remains open until such time as the auctioneer declares all bidding closed. By utilizing the multi-par concept, it is possible for you to be the winning bidder in one round, lose it in the next round, and regain it in another round. If you have the bid on an individual tract or combinations of tracts and are still listed on the board, but you are not in a winning position, you could still be put into a winning position for that individual tract or combination, depending upon what raises are made on your tract or other tracts. Therefore, it is mandatory that if you are a bidder with your number posted on any white board, you will need to remain on the premises until the conclusion of the auction.
8.) The 2014 property taxes shall be prorated.
9.) Possession of the property will be given upon payment in full and delivery of the deed.
10.) Bidding – Bidding will be done by number and all bidding is open to the public. Representatives of Ford Brothers, Inc. will be available to take your bids or you can bid directly to the Auctioneer. Any creditor or any staff member of Ford Brothers, Inc. is permitted to bid as long as they comply with the terms of the auction.
We trust that you will have an enjoyable day with us. If you have any questions or need any assistance, please do not hesitate to talk to any of our staff on the premises.
