Brick House & 4 Building Lots in Somerset, Ky at Absolute Multi-Parcel Auction
Friday, January 19th, 2024 at 1:30PM
806 Monticello Street Somerset, Ky
Located on the corner of Monticello Street & Ford Drive
Preview Date: Thursday - January 11th from 2:00 to 5:00 p.m.
Tract #1 - Brick House & 0.41 Acres:
Located at the intersection of Monticello Street and Ford Drive, this brick house seamlessly combines the warmth of a family home with the potential of a lucrative investment property. Its strategic positioning in a bustling, high-traffic area caters to those seeking proximity to major retail shopping centers and restaurants, just off Hwy 27 or an excellent choice for those seeking a rental property tailored towards college students.
Tracts #2 to #5 (0.30 to 0.33 Acres):
Discover extraordinary building lots along Ford Drive, spanning from 0.30 to 0.33 acres, offering a golden opportunity for an enchanting small homes or lucrative multi-tenant investments. These lots boast significant potential for student accommodations, given their proximity to Somerset Community College.
🌆 Strategic Location:
Situated at the crossroads of Monticello Street and Ford Drive, this property perfectly balances town convenience with the educational advantages surrounding Somerset Community College. An opportune sanctuary for those keen on investing in the future or establishing a home in close proximity to educational opportunities.
REAL ESTATE TERMS:
Buyer's Premium: There will be a 10% Buyer’s Premium added to the winning bid to determine the final sale price.
EARNEST MONEY: 20% of the total sale price down as a non refundable earnest money at the close of the auction. We do not accept a credit card for down payment. The balance of purchase price is due at closing, said closing to be within 30 days of close of bidding. Purchaser shall be responsible for all wire transfer fees. Closing will be as specified in the Contract for Sale of Real Estate.
Note: The purchaser of a single -family residence built before 1978 has a maximum of 10 days to inspect the property of lead-based paint. The period for inspections begins January 8th through January 18th. The successful bidder must sign a waiver of the 10-day post inspection period.
MULTI-PARCEL AUCTION: The property will be offered in tracts utilizing the multi-parcel method and selling in the manner that reflects the best returns for the sellers. This concept gives each and every prospective buyer the ability to purchase his or her individual tract or combination.
SERVER & SOFTWARE TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Ford Brothers, Inc. reserves the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor FORD BROTHERS, INC. SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Email notifications will be sent to registered bidders with updated information as deemed necessary by Ford Brothers, Inc.
This 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 Contract for Sale of Real Estate.
GOOD INSURABLE GENERAL WARRANTY DEED AT CLOSING.
REAL ESTATE TAXES AND CLOSING COSTS: All real estate taxes will be prorated for 2024. The purchaser will pay all other closing costs associated with the purchaser’s side of the sale, including local and state recording fees and any cost associated with the purchaser’s loan. The seller will pay for deed preparation and deed tax.
AUCTIONEER/BROKER/SELLER DISCLAIMER: The information contained herein is believed to be correct to the best of the auctioneer’s knowledge. The information is being provided for the bidder’s convenience and it is the bidder’s responsibility to determine the information contained herein is accurate and complete. The property is selling in its as-is condition with no warranties expressed or implied.
For additional information contact the auctioneers at 606-679-2212.
Matt Ford, Auctioneer
Buyer's Premium: There will be a 10% Buyer’s Premium added to the winning bid to determine the final sale price.
EARNEST MONEY: 20% of the total sale price down as a non refundable earnest money at the close of the auction. We do not accept a credit card for down payment. The balance of purchase price is due at closing, said closing to be within 30 days of close of bidding. Purchaser shall be responsible for all wire transfer fees. Closing will be as specified in the Contract for Sale of Real Estate.
Note: The purchaser of a single -family residence built before 1978 has a maximum of 10 days to inspect the property of lead-based paint. The period for inspections begins January 1st through January 12th. The successful bidder must sign a waiver of the 10-day post inspection period.
MULTI-PARCEL AUCTION: The property will be offered in tracts utilizing the multi-parcel method and selling in the manner that reflects the best returns for the sellers. This concept gives each and every prospective buyer the ability to purchase his or her individual tract or combination.
SERVER & SOFTWARE TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Ford Brothers, Inc. reserves the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor FORD BROTHERS, INC. SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Email notifications will be sent to registered bidders with updated information as deemed necessary by Ford Brothers, Inc.
This 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 Contract for Sale of Real Estate.
GOOD INSURABLE GENERAL WARRANTY DEED AT CLOSING.
REAL ESTATE TAXES AND CLOSING COSTS: All real estate taxes will be prorated for 2024. The purchaser will pay all other closing costs associated with the purchaser’s side of the sale, including local and state recording fees and any cost associated with the purchaser’s loan. The seller will pay for deed preparation and deed tax.
AUCTIONEER/BROKER/SELLER DISCLAIMER: The information contained herein is believed to be correct to the best of the auctioneer’s knowledge. The information is being provided for the bidder’s convenience and it is the bidder’s responsibility to determine the information contained herein is accurate and complete. The property is selling in its as-is condition with no warranties expressed or implied.
For additional information contact the auctioneers at 606-679-2212.
Matt Ford, Auctioneer