Kentucky Land Auction, Whitley County Riverfront Acreage

Auctioneers Note:
This tract of Kentucky real estate is located along the Cumberland River. It includes a brick, ranch style home built in 1984 with 3 bedrooms & 2.5 bathrooms. This land for sale in Kentucky is nearby to many attractions. The Daniel Boone National Forest is less than an hour drive and offers hiking, fishing, camping, target shooting, caving, and geocaching. The Kentucky Splash Water Park and Campground is about 11 miles away. Also, Cumberland Falls State Resort Park is only 17 miles from this Kentucky land for sale. Go white water rafting or kayaking in many of the nearby rivers, or explore the beautiful scenery that surrounds these 79 acres of land for sale in Kentucky. Perfect for developing so that others may take refuge in this amazing, strategically located area. Visit https://acre.bid today to place your bid!

Over 1,800 feet of River frontage with awesome views of the wild Cumberland River. This property has a natural gas well that has approximately 500 feet of standing oil in it. There is no oil pump on the well, but would not cost too much to invest in one to pump the oil. The gas well is 1,200 feet deep. According to a geological satellite survey the well is sitting on top of an oil dome. The well could be drilled deeper to hit the oil dome, again a small investment to be able to do that. The well was drilled in 1979 and has been providing natural gas to the property. The well could potentially heat green houses, barns, also can provide electricity fueled by natural gas generators, etc.

There are so many possibilities for the well and the property too. An oil pump could be beneficial for a small investment to add extra revenue for someone. This farm has so much potential; a diamond in the rough.

There are 2 areas for mobile homes with electricity, water and septic already in place on this property. There is also a large concrete block barn on property in addition to the large ranch style home. This property is an equestrian’s or rancher’s dream find. Property in a unique setting; it’s very private and remote, but yet close to town, hospitals, etc. Great property for off grid, preppers, survivalists, etc. Abundance of wild game in area.. Visit https://acre.bid today to place your bid!

PROPERTY INSPECTIONS
Each purchaser is allowed a property inspection. The purchaser is responsible for arranging the inspection prior to the your bid. You may do you inspection and you do not have to pay the auctioneer a fee to set up the inspection, however you must inspect the property prior to bidding or you may bid without an inspection but remember you are buying the property in as is condition.

DISCLAIMER
Any Broker involved or Auctioneers and the Seller have gathered this information and believe it to be correct to the best of our knowledge. All documents and information are being furnished to the bidder for the bidder’s convenience and it is the responsibility of the bidder to determine that information contained herein is accurate and complete. Any reliance on the contents shall be solely at the bidder’s risk. These documents are being provided without any warranty or representation, express or implied, as to its content, its suitability for any purpose or its accuracy, truthfulness or completeness. Each Purchaser must conduct and rely solely upon its own investigation and inspection. Further, all parties acknowledge and agree that the Property is being sold “AS IS” with any and all faults. The Seller shall have no obligation for repairs or replacements noted in any inspection(s) made by or for the Purchaser. Such repairs or replacements shall be the sole responsibility of Purchaser. All contracts will be presented at the close of the Auction with specific Seller instructions. Seller may remove property from the Auction during or at any time prior to the end of Auction and at the Seller’s discretion; Seller may accept the offer with the best terms. Auctioneer/Broker and/or Seller may bid or rebid on any property in tracts, combination of tracts or as a whole, defense of a bid or any bid increment vital to producing the highest and best price under the terms and condition of the Seller. Furthermore, it will be the Seller’s discretion to accept any additional increase on any posted bid by any individual tract purchase, combination, defense of bids or any upset bid during or after any bid has been posted and prior to final confirmation and reserves the liberty of bidding until the acceptance in the form of a purchase and sale agreement in writing. Any Internet bid may be transferred to any live Auction event and will be subject to terms and conditions of the live Auction. Furthermore, all bids shall be posted and presented accordingly as announced by the Auctioneer

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Price Bid is for the Property in Whole Dollars and may be subject to divisions. A buyer’s premium of 10% of the highest bid price will be paid to the auctioneer, non-refundable, due at the time of sale. Buyer’s and Seller’s shall sign purchase and sale agreements subject to terms and the buyer’s shall make a 20% Deposit that is required at time of BID AWARD. All sales must close within 30 days of auction ending subject to closing costs and other terms and conditions. Property sells “As is, Where is.”

Property will sell subject to confirmation unless other announcements are made; furthermore, bidders must register prior to bidding by downloading the FREE BIDDING APP iphone or Android. The seller hereby activates the liberty of bidding; in addition, the seller may authorize the auctioneer to accept bids until their reserve has been meet, or accept a lower than reserve amount when authorized by the seller. The liberty of bidding under the reservation of the sellers extends to all qualified and registered bidders in a competitive fashion to reach the highest acceptable bid. Property may be sold prior to the posted ending time without notice; your maximum offer is encouraged for the better bidder results and may be submitted prior to the sale date with no guarantee of obtaining a contract price, subject to terms of the buyers guarantee.

System testing: Auctioneers have the right to implement system testing to insure the highest and best possible (UX) user experience during the competitive bid period. If any bidders have questions about registration, bid procedures do not hesitate to call the administration office about technical operations or bid procedures. Administration staff will not be able to answer questions about property being sold. To ask questions about the property call the Auctioneers Hotline…844-400-2828

SPECIAL CONDITIONS OF THE SALE

A. Sellers presently have title to this Property. At the time of closing, Seller’s agree to convey a marketable title to said Property by deeds as described and subject only to (1) zoning ordinances affecting said property; (2) general utility, sewer, road, and drainage easements of record; government easements, rights-of-way, covenants, restrictions, encumbrances and other matters of record, if any issued by any government agency for any use perpetual or limited by contract or deeded restrictions in all forms (3) subdivision easements, covenants and restrictions of record, if any; and (4) leases, other easements, other restrictions and encumbrances specified herein. This property is selling subject to visible easements or claims of easements not shown by the public records, shown or not shown graphically on subdivision plats or other maintained records, prescribed use easements recorded or unrecorded, boundary lines disputes, overlaps, encroachments, and any matters not of record that would be disclosed by an accurate survey and inspection of the premises. This Property is sold subject to all outstanding easements on said property for roads of public record or private use being granted, prescribed, leased or otherwise conveyed and easements power, electronic and telephone lines and the like and likewise subject to any cemetery or cemeteries that may now exist on this property rights of the public to use and gain access to any cemetery lying within the bounds of the land described and furthermore to any air, truck, train or other transportation and the restrictions, ordinances, zones affecting such.

B. All properties may be subject to current lien holder’s approval and may be presented for short sale approval if applicable. However, no guarantee will be made by seller. Purchaser will agree to all extensions required by the seller, Financial Institutions, Federal, State and Local Courts of Jurisdiction and will accept all extensions until approval can be executed. Purchaser and seller agree that the earnest money deposits shall be held in authorized escrow account and can be transferred upon request to closing agent. Any earnest money deposit shall continue to be held during the course of the contract, including any extension period or time required for acceptance in conjunction with any short sale, lien holder approval, Federal, State or Local Court actions needed to assure the seller’s ability to satisfy and deliver a marketable title.

C. Auctioneer disclaims and now acts on behalf of the Sellers and Sellers do not warrant or covenant with Buyer with respect to the existence or nonexistence of any pollutants, contaminants or hazardous waste prohibited by federal, state or local law or claims based thereon arising out of the actual or threatened discharge, release, disposal, seepage, migration or escape of such substances at, from or into the demised premises. Buyer is to rely upon it’s own environmental audit or examination of the premises.

D. This property is being sold subject to all laws federal, state or local law concerning any species that may be listed as threatened, endangered or otherwise protected as disclosed on the plat attached. It is the responsibility of the purchaser to inspect the property and the purchaser(s) shall rely on their own investigation in conjunction with the purchase of this property. Seller shall have no obligation to extend the contract-closing period and purchaser will not be granted any inspection period after the final gavel call.

E. A title detailed title search has not been conducted; therefore, Auctioneer disclaims and the Seller is not positive as to the status of the oil, gas and mineral rights. The Seller will convey any interest in any oil, gas, or mineral rights to the Purchaser unless stated in writing and any prior reservations shall stand as reserved. Furthermore, any oil, gas or mineral rights previously sold, conveyed or rescinded will not be conveyed to the Purchaser and such rights may be offered as a separate conveyance unrestricted to other purchasers.

F. Subject to rollback taxes for residential, commercial or other use tax applicable to the transaction.

G. Any survey shall not preempt closing and shall be subject to tendering all sums due for the contracted purchase within the specified time period. In the event surveys are not completed all deposits, including escrow deposits and buyer’s premium’s shall be subject to forfeit. All tracts are estimates and purchasers all agree to cooperate for minor field adjustments and lot line placements between purchasers.

H. Any construction plans, drawings, renderings, or contracts posted or otherwise will not be promised as part of any property offered. The Seller shall have no obligation to perform any construction work on any property advertised or otherwise. The use of any construction document is for illustration purposes only. Construction approvals and or permits may have been obtained but shall not be guaranteed. Transfer of any permit is the sole responsibility of the Purchaser. Each purchaser must rely on their own judgment as to the usefulness of documents, permits, approvals issued by any board in the municipality in which the property is located. Any documents or permits that may be available for transfer that can be obtained will strictly be an expense of the purchaser. All other documents posted online, print or otherwise is for the bidder’s convenience and each bidder shall hold auctioneer and seller harmless from all faults.

I. Seller will not grant or guarantee construction rights, permits or approval for building. Or guarantee Divisions of Property. It will be the sole responsibility of the purchaser to obtain any and all permits or approval for Dwellings, Structures, road construction, sewer, water or other facility requirements for habitual use. Parcels are intended for the use as permitted by current zoning, future land use or other permitted use. Property is selling subject to current zoning requirements and land use regulations; furthermore, purchaser shall be responsible for any future change of use, purchaser shall be responsible any change in the current use and shall abide by any regulation that is required by municipality or governing agency, Federal, Sate or Local.

J. Subject to all construction regulations for entry (ingress) and exit (egress) furthermore Purchaser shall be responsible for all applications to permit or other wise construct any road entrance, parking lots or parking areas, drainage or holding pond, curb requirements, utility discovery and compliance, and / or any building that may be placed within the bounds of acquired property.

K. Subject to all Conditions and Restrictions unrecorded or recorded with the county clerk of court and additionally Government Easements regulated by any governing body that included Local, State, Federal Authority or other regulation that may affect the rights of the purchaser.

L. Purchaser will be responsible for any clean up of debris and accepts property in the “as is” condition.

M. Any map or diagram now or previously provided is for reference and informational purposes only. The Auctioneer or any Broker involved and its agents expressly disclaim any liability for alleged loss or damage in which may result from reliance upon such map(s) or diagram(s). Plats are for reference only and have been provided for the convenience of the bidders.

N. Any bidder shall not rely on published/estimated field measurements but shall rely on their own judgment in the purchases.
O. Purchaser agrees that this transaction shall close no later than November 8th, 2016. Any survey ordered shall not delay closing. The current Parcel Identification Number on file with each parcel may refer in part to the legal description on file less and except previous conveyed property or parcels recorded or unrecorded.
P. Any additional closing fees including, but not limited to, documentary stamps, recording, financing expenses, intangible taxes, title fees, title insurance, appraisals, inspection reports, any additional legal work required by a lender will be the Purchaser’s expenses.

Q. Property may be subject to any association dues, fees, annual costs or other assessment as required by the covenants, additionally subject to the restrictions thereof. Purchaser may be required to pay for and assume fees in conjunction with Owner Association Requirements, and shall become the sole responsibility of the Purchaser upon acceptance of the Bid Acknowledgement and Contract for Sale of Real Property.

R. Purchaser agrees that they have sought all necessary professional and and/or legal guidance prior to auction and has all terms and conditions of this agreement. Purchasers agree and affirm that prior to bidding he/she has had the opportunity to comply will all terms as set forth in this agreement including but not limited to inspections, approvals, advisement, and the inspection of all property prior to submission of this offer including the inspection all documents of record.

S. Buyer’s Premiums will be calculated at the time of bid being received being determined by the highest bid accepted at the Auctioneer announcement or by seller acceptance. Buyer’s Premiums will be paid to the Auctioneer at the time of sale when the auctioneer announces any purchaser the highest bidder and bids have been accepted by the seller. Payment of the Buyer’s Premium shall be rendered directly to the Auctioneer and all payments shall be considered final payment for services rendered. Buyer and seller understand and agree that Auctioneer has received payment is not subject to any action from purchaser or seller in any present or future action. In the case of any dispute Purchaser and Seller shall determine the liability of damages if any solely between the Purchaser and Seller. Auctioneer shall be indemnified and be held harmless by all parties for the repayment of any Buyers Premium collected during, before or after the time of sale.

T. Auctioneers has been employed by the seller as a contract bid caller and will not act as Broker or Agent for any party.

U. The Auctioneers responsibility shall cease at the final gavel call as awarded then confirmed in this agreement, Purchaser and Seller shall be responsible for performing under the terms and condition set forth in this agreement.

 

  Title Commitment: Title transfer will be subject to normal standards with the issuance of title policies with provided exceptions listed within the policy as issued by the title insurer. It is the intent of the seller to transfer property with marketable title with permitted exceptions. In the event that marketable title is not available, buyers should investigate announcements made prior to the sale of each property. It is the responsibility of the buyer to purchase an owner title policy or lender’s title policy with all costs to be assessed to the buyer. Buyer may select the title insurer of the buyer’s choosing. Buyer is subject to closing coordination fees, administrative or other closing costs to be paid at the time a final HUD is derived by closing agent. Closing costs may include but are not limited to attorney fees, taxes, title insurance, closing coordination, escrow fees, inspection reports, appraisals or other costs associated with the sale.

Price Bid is for the Property in Whole Dollars and may be subject to divisions. A buyer’s premium of 10% of the highest bid price will be paid to the auctioneer, non-refundable, due at the time of sale. Buyer’s and Seller’s shall sign purchase and sale agreements subject to terms and the buyer’s shall make a 20% Deposit that is required at time of BID AWARD. All sales must close within 30 days of auction ending subject to closing costs and other terms and conditions. Property sells “As is, Where is.”

Property will sell subject to confirmation unless other announcements are made; furthermore, bidders must register prior to bidding by downloading the FREE BIDDING APP iphone or Android. The seller hereby activates the liberty of bidding; in addition, the seller may authorize the auctioneer to accept bids until their reserve has been meet, or accept a lower than reserve amount when authorized by the seller. The liberty of bidding under the reservation of the sellers extends to all qualified and registered bidders in a competitive fashion to reach the highest acceptable bid. Property may be sold prior to the posted ending time without notice; your maximum offer is encouraged for the better bidder results and may be submitted prior to the sale date with no guarantee of obtaining a contract price, subject to terms of the buyers guarantee.

System testing: Auctioneers have the right to implement system testing to insure the highest and best possible (UX) user experience during the competitive bid period. If any bidders have questions about registration, bid procedures do not hesitate to call the administration office about technical operations or bid procedures. Administration staff will not be able to answer questions about property being sold. To ask questions about the property call the Auctioneers Hotline…844-400-2828

This Auction hosted by ACRE.bid –Presented by Myers Jackson Auctioneer- RP3603,