LIVE ON-SITE AUCTION
MR. AND MRS. JAMES CLAWSON
128 +/- ACRE FARM WITH HOUSE, BARNS, SHEDS AND BUILDING LOT
SATURDAY, DECEMBER 9, 2023 – 10:30 A.M.
331 MOORE STREET, WILLIAMSBURG, KY
DIRECTIONS - From Interstate 75 Exit 160 in Jellico, TN, follow Hwy 25W North 1.6 miles and turn onto High Cliff Road. Go 1.2 miles and turn left onto Skaggs Branch Road. Go 1.1 mile and turn left onto Lot Mud Creek Road. Go 1/4 mile and turn left onto Moore Street. Continue 1/10 mile to the property at the end of Moore Street. Auction signs are posted.
PROPERTY #1:
- Approximately 128 acres with a brick ranch style house, barns, shop building and sheds.
- The sellers are retiring after decades of farming. They’ve used the property for cattle, hay and corn production.
- The land is level to gently rolling with mostly cleared pasture, hay and crop fields.
- The house features brick / vinyl exterior, metal roof, foyer, living room, 3 bedroom, 1 full bathroom, laundry room, kitchen/dining room, den, central gas heat, central A/C and a covered front porch.
PROPERTY #2:
- Cleared, level building lot with frontage on Ross Street and located adjacent to the farm.
TERMS - 20% down the day of the auction with the balance due in full within 45 days.
BUYER’S PREMIUM: There will be a 10% buyer’s premium added to the last bid to determine the final sales price.
TERMS OF AUCTION:
AUCTION – This property is being sold at Live Simulcast Auction. Bidding will be conducted live, onsite with the option of online bidding.
PAYMENT - Terms of payment will be twenty percent (20%) of the gross purchase price down today in the form of cash or a check made payable to Ford Brothers Escrow. The twenty percent (20%) will be deposited Monday, December 11, 2023. The remaining balance of eighty percent (80%) will be due in full no later than February 14, 2024.
POSSESSION at closing upon payment in full.
CLOSING COSTS – The purchaser(s) will be responsible for all closing costs with the exception of deed preparation and deed tax.
CONTRACT - Immediately upon conclusion of the auction, the buyer(s) will sign a sales and purchase contract.
PROPERTY TAXES - The 2023 property tax bill will be paid by Seller. Any delinquent property taxes, if applicable, will be paid out of the proceeds of the auction.
INSURANCE / RISK OF LOSS - The burden of insurance and risk of loss lies with the Seller until closing. Upon closing, the burden of insurance and risk of loss will transfer to the buyer.
PROPERTY CONDITION - The property is selling in its AS-IS condition. There are no warranties implied or expressed regarding the condition of the subject property. All the information provided by the auctioneer is for informational purposes only and should not be interpreted as a guarantee. Each prospective buyer should inspect the property thoroughly and verify all information on his/her own behalf before bidding.
REAL ESTATE ONLY - This auction is for real property only. This includes the land, buildings and permanently attached features. The Sellers personal property is not included in this sale.
PUBLIC AUCTION - This is a public auction open to anyone who can comply with the auction terms, including individual partners, family members or Ford Brothers’ associates.
BUYER’S PREMIUM - The buyer(s) shall pay a Buyer’s Premium in the amount of 10% of their high bid. The high bid plus their 10% Buyer’s Premium will be the sale price.
BIDDER QUALIFICATION - Prospective Bidders must register for a bidder’s number. Registration is also an agreement to comply with all terms of the auction, both written and verbal.
EASEMENTS AND RESTRICTIONS - The property is selling subject to all easements of record and all easements shown on the map, as well as any restrictions of record.
SURVEY – The property is selling by its boundary deed description.
The minimum bid increment shall be $500.00
On behalf of the Sellers and Ford Brothers, Inc., we trust you will enjoy your auction experience. Thank you for your attendance.