REAL ESTATE:
TERMS & CONDITIONS: REAL ESTATE: $15,000 down within 48 hours of the auction ending time. Deposit to be made in the form of cash, cashier’s check, personal check with up-to-date bank letter guaranteeing funds or wire transfer. Balance due by September 29th, 2022. POSSESSION: Date of deed. TAXES: 2022 real estate taxes will be prorated. The house was built before 1978. Lead paint could be present, make your inspection 10 days prior to the auction ending time. Purchaser will be required to sign an inspection waiver prior to signing a sales purchase agreement. PERSONAL PROPERTY PAYMENT: Day of item pick up with cash or good check. NO CREDIT CARD. POSSESSION: Day of item pickup with the exception of any titled automobiles/boat after being transferred at the courthouse with proof of transfer supplied to auctioneers. BUYERS PREMIUM: A 10% buyer’s premium will be added to all winning bids to determine the final selling price. IMPORTANT NOTICE: All real estate sold as is where is condition with no warranty or guarantee expressed or implied. Although information has been obtained from sources deemed to be reliable, neither the seller nor the auctioneer makes any warranty or guarantee, expressed or implied, as to the accuracy of the information herein contained. It is for this reason that buyers should avail themselves of the opportunity to inspect prior to the auction. All announcements from the auction block take precedence over any printed material or any oral statements made. Not responsible for accidents.
1. Real Estate Terms and Conditions:
NOTE: If you require any type of government guaranteed loan such as VA, FHA, RHS or KY Housing Corporation, PLEASE DO NOT BID! There are no financing contingencies for homes sold at auction. If you are obtaining financing it is recommended that you use a conventional type loan only. You should speak with your loan officer prior to bidding to ensure that the financing can be completed within the allowed time frame and according to the terms and conditions as shown on the purchase contract agreement and addendum REAL ESTATE:.
TAXES: 2022 real estate taxes to be prorated. Other online bidding terms apply, see barrrealtyauction.com for details. BUYERS PREMIUM: A 10% buyer’s premium will be added to all winning bids to determine the final selling price. IMPORTANT NOTICE: All property sold “as is where is” condition with no warranty or guarantee expressed or implied. Although information has been obtained from sources deemed to be reliable, neither the seller nor the auctioneer makes any warranty or guarantee, expressed or implied, as to the accuracy of the information herein contained. It is for this reason that buyers should avail themselves of the opportunity to make an inspection prior to the auction. All announcements take precedence over any printed material or any oral statements made. Not responsible for accidents.
2. This online only 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 Agreement to Purchase Real Estate.
3. A Buyer’s Premium of 10% is added to the high bid. At the close of the auction, the successful Bidder will be emailed an Agreement to Purchase Contract to be executed and returned to Barr Realty & Auction Co., Inc. within Forty-Eight (48) hours. Successful Bidders will make their deposits in the form of cash, cashier’s check, or wire transfer with Barr Realty & Auction Co., Inc. within Forty-Eight (48) hours of the completion of the auction. The entirety of the remaining balance is due at closing.
4. Purchaser will be responsible for all wire transfers.
5. Per the Contract, time is of the essence; you should proceed to closing within Thirty (30) days. Possession shall be given to the successful Buyer(s) at closing. Any closing fees charged by the buyer(s) lender or closing attorney will be a buyer(s) expense.
6. Successful Bidders not executing and returning their Contract with Earnest Money deposit within 48 hours of the conclusion of the auction will be considered in default. If your closing is delayed for any reason, by you, as purchaser or other parties working on your behalf, including any lender you involve, you may be declared in breach of this contract, forfeit all deposits made and could be additionally liable for any and all costs incurred by Seller and Barr Realty & Auction Co., Inc. incurred in a subsequent resale of the property.
7. Buyer(s) must be prepared to make a cash offer. There are no contingencies to this sale (i.e. financing, appraisal, repairs or inspections). Therefore, you should be pre-qualified by a lender prior to bidding if you require financing. This property is being sold for cash “as is, where is.” with a closing deadline.
8. SERVER & SOFTWARE TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Barr Realty & Auction Co., Inc. reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the Company providing the software nor Barr Realty & Auction Co., Inc. shall be held responsible for a missed bid or the failure of the software to function properly for any reason.
9. Barr Realty & Auction Co., Inc. reserves the right to remove or cancel the bids and or bidding rights and privileges of any party at any time deemed not to be in the best interest of the seller. The identity of all bidders will be verified, bidding rights are provisional and if complete verification is not possible, Barr Realty & Auction Co., Inc. will reject the registration and bidding activity will be terminated.
10. Barr Realty & Auction Co., Inc. will make its best efforts to accept and submit your bids. However, due to possible equipment malfunctions, lapsed time due to internet connections or bidders not acting quickly enough we do not guarantee that a bid will be received and/or accepted. It is of no benefit to wait to the last second to submit a bid. In the event bidding is active the auto extend feature will automatically extend the time unless we inform you otherwise. It is for this reason that we highly recommend that you submit any and all bids as quickly as you can to ensure that it is received/accepted.
11. Auctioneers and/or a Barr Realty & Auction Company, Inc. representative have the option of reopening the bidding for any item if they deem a computer or electronic malfunction prevented a potential or existing bidder from placing bids. Even though a bidding time may have ended and the computer screen may show the bidding is CLOSED. The auctioneers and/or a Barr Realty & Auction Company, Inc. representative may reopen the bidding at their sole discretion.
12. Barr Realty & Auction Company reserves the right to change a bidder’s user name and/or password at any time for any reason.
13. Buyer acknowledges they are buying property “as is, where is”, without inspections or contingencies, Buyer(s) will rely on his/her own judgment and inspection.
14. Barr Realty & Auction Co., Inc. and their representatives are Exclusive Agents of the Seller(s).
15. Real Estate is sold subject to any and all existing matters of record and all easements building use or zoning laws and regulations. 2022 real estate taxes to be prorated.
16. All Barr Realty & Auction Co., Inc. Online Only Real Estate Auctions are timed events that have an auto-extend feature. Any bid placed within 5 minutes of the auction ending will automatically extend the auction for 5 minutes from the time the bid is placed. Example: If an auction scheduled to end at 12:00 p.m. receives a bid at 11:59 a.m., the close time of the auction automatically extends to 12:04 p.m. The auto-extend feature remains active until no further bids are received within the 5 minute time frame. Auto extend all extend feature.
17. IMPORTANT NOTICE: Bidders agree to keep their username and password confidential as they are responsible for ANY and ALL activity involving their account.
18. When using the website you must obey any and all local state and federal laws. Violations will result in termination of website use privileges.
19. Auction company employees and/or auction company may bid on auction items.
20. We gather aggregate information from this web site which may include but is not limited to: number of page visitors, most visited pages, any and all correspondence. All property sold “as is where is” condition with no warranty or guarantee expressed or implied. Although information has been obtained from sources deemed to be reliable, neither the seller nor the auctioneer makes any warranty or guarantee, expressed or implied as to the accuracy of the information herein contained. It is for this reason that buyers should avail themselves of the opportunity to make an inspection prior to the auction. All instant announcements from the auction company take precedence over any printed material or any oral statements made. Not responsible for accidents.
21. This is a binding agreement upon the buyer. If the buyer defaults on this agreement, the real estate can be sold again. The buyer will be responsible for paying the monetary difference between the selling prices and all expenses incurred in the resale including but not limited to advertising, promotion, sales fees, closing fees, buyers premiums, attorney fees and court costs.
PERSONAL PROPERTY TERMS:
TERMS & CONDITIONS: PERSONAL PROPERTY PAYMENT: Payment in full and possession given day of item pickup, with the exception of any titled automobiles/boat after being transferred at the courthouse with proof of transfer supplied to auctioneers. Other online bidding terms apply, see barrrealtyauction.com for details. Acceptable forms of payment are cash or good check. NO CREDIT CARDS ACCEPTED. No items will be shipped, no exceptions. BUYERS PREMIUM: A 10% buyer’s premium will be added to all winning bids to determine the final selling price. SALES TAX: A 6% KY sales tax will be charged on the final selling price on all taxable items. IMPORTANT NOTICE: All real estate sold as is where is condition with no warranty or guarantee expressed or implied. Although information has been obtained from sources deemed to be reliable, neither the seller nor the auctioneer makes any warranty or guarantee, expressed or implied, as to the accuracy of the information herein contained. It is for this reason that buyers should avail themselves of the opportunity to inspect prior to the auction. All announcements from the auction block take precedence over any printed material or any oral statements made. Not responsible for accidents.
1.Your computer will automatically refresh with new bids. You do not need to refresh your webpage. Refreshing may cause a delay in your bidding experience due to the reloading of the entire page.
2. Bidding Increments:
$0 - $20 = $2 Increment
$20 - $100 = $5 Increment
$100 - $500 = $10 Increment
$500 - $1,000 = $25 Increment
$1,000- $3,000 = $50 Increment
$3,000 - $5,000 = $100 Increment
$5,000 – $10,000 = $250 Increment
$10,000 -50,000 = $500 Increment
$50,000-$200,000+ = $1000 Increment
3. Auction Ending:
Barr Realty & Auction Co., Inc. Online Auctions are timed events and all bidding will close at a specified time. Barr Realty & Auction Co., Inc. Online Auctions also have an auto-extend feature. Any bid placed in the final three (3) minutes of an auction, the auction ending will be automatically extended three (3) minutes from the time the bid was placed. The auto-extend feature remains active until no further bids are received within a three (3) minute time frame. The extension time normally applies to individual lots only.
4. Outbid Notification:
Until the auction begins to close, the bidding software will notify bidders by email when they have been outbid. Bidders may also find out if they have been outbid by refreshing the individual lot information. Due to varying internet connections/speed, please place a max bid or constantly monitor the auction at close of bidding. Sometimes email notifications can be delayed.
5. Property Information & Inspection:
Barr Realty & Auction Co., Inc. is not responsible for any missing or incorrect listing information. Barr Realty & Auction Co., Inc. has attempted to provide accurate descriptions of all items in the auction. However, it is the bidder's responsibility to inspect the item and determine the condition of each lot. Descriptions that are provided by Barr Realty & Auction Co., Inc. are provided in good faith and are matters of opinion. The only recourse for the buyer of an item or items that are missing or damaged prior to pick up is not paying for the item.
If the pictures displayed with descriptions do not appear to match, contact [email protected] or call 270-422-2136 or 270-756-2136 to report the auction date and item number.
6. Sold 'As Is Where Is':
Barr Realty & Auction Co., Inc. and the seller furnish all auction items to buyers 'As Is', unsupported, without warranty of any kind. Barr Realty & Auction Co., Inc. and the seller disclaims all warranties, express or implied, including the implied warranties of merchantability and fitness for a particular purpose. Items are sold in their actual current condition, with all faults and defects, and with all errors of description. Barr Realty & Auction Co., Inc. liability to a purchaser will never exceed the purchase price actually paid for an item.
Bidders accept all auction items “with all faults”, whether or not immediately apparent. Bidders are responsible for ascertaining actual current condition through personal inspection and careful review of the description, pictures, video and/or support documentation. Every bidder agrees that his or her decision to bid and the amount he or she bids have been based solely on his or her own independent inspection and evaluation of the auction items.
7. Auctioneer's Discretion:
Barr Realty & Auction Co., Inc. has full discretion to modify the date and time, order, and details of the sale of any item or conduct of any auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and convenience of Barr Realty & Auction Co., Inc. or the seller.
8. Server & Software Technical Issues:
In the event that there are technical difficulties related to the server, software or any other online auction-related technologies, Barr Realty & Auction Co., Inc. reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor Barr Realty & Auction Co., Inc. shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Email notifications may be sent to registered bidders with updated information as deemed necessary by Barr Realty & Auction Co., Inc.
9. Terms:
Barr Realty & Auction Co., Inc. reserves the right to reject any and all bids for any reason. An accepted bid is a legal binding contract. Items become the full responsibility of the bidder at the time that payment is received. The bidder assumes all risk of loss or damage to the item at that time. Barr Realty & Auction Co., Inc. reserves the right to resell any personal property that is not paid for in full by the conclusion of the stated pickup date. In any such event, the bidder will still be responsible for payment for the original purchase and the costs of collection of this payment and/or damages resulting for the resale of the property. Barr Realty & Auction Co., Inc reserves the right to change bidders’ username and or password for any reason deemed necessary by Barr Realty and Auction Co., Inc.
Buyer and or Bidder agrees to hold harmless and indemnify Barr Realty & Auction Co., Inc. and its Agents, Owners, Directors, Employees and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.
10. Buyer's Premium:
There will be a ten percent (10%) Buyer’s Premium added to final bid price to determine the final selling price of the auction lot.
11. Payment:
Payment must be made before item(s) are removed by the specified date on the auction advertisement. All sales are final. There are no returns, refunds, or adjustments. Barr Realty & Auction Co., Inc. accepts the following forms of payment: Cash, Wire Transfer, personal check, Cashier’s Check and Money Orders.
12. Auction Cancellation:
Barr Realty & Auction Co., Inc. reserves the right to cancel this auction, or remove any item or lot from this auction prior to the close of bidding.
13. Bidder Verification:
The identity of all bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, Barr Realty & Auction Co., Inc. will reject the registration, and bidding activity will be terminated. The Seller and Barr Realty & Auction Co., Inc. reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, mental fitness, etc.
14. Bidder Responsibilities:
Bidder responsibilities include, but are not limited to: Bidders agree to keep their username and password confidential, as they are responsible for ANY and ALL activity involving their account. When using the web site you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges. Auction company employees and/or auction company may bid on auction. We gather aggregate information from the web site which may include but is not limited to: number of page visitors, most visited pages, and any and all correspondence.
15. Personal Property Pickup:
All items, must be picked up from the address listed on the auction, as well as the date listed, once Barr Realty & Auction Co., Inc. has received and acknowledged payment in full. Items will not be released to buyers until payment is made in full to Barr Realty & Auction Co., Inc. Bidders are responsible for rigging, loading, and moving all items purchased without assistance from Barr Realty & Auction Co., Inc. If you are the winning bidder on large items, please bring help and equipment to load the item.
16. Security:
Surveillance and security are on site; please do not enter the property except at the specified preview date and time or by appointment.
17. Default:
If purchases are not settled by the specified pick up day, it will be considered in default. Upon default the bidder will be black listed/blocked from bidding on Barr Realty & Auction Co., Inc. auctions, as well as MarkNet Alliance auctions and may be charged ten percent (10%) of bid price or five hundred dollars ($500), whichever is greater. All defaulted items may be offered to any qualified bidder at the discretion of Barr Realty & Auction Co., Inc.
The bidder agrees to pay all reasonable attorney fees and other costs incurred by Barr Realty & Auction Co., Inc. in its efforts to collect unpaid funds from the bidder. The bidder agrees that a fee of two percent (2%) of the outstanding balance per month be added to any unpaid balance due Barr Realty & Auction Co., Inc. Any dispute will be tried in a court of jurisdiction in Breckinridge or Meade County, Kentucky.
EACH PARTY HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES (TO THE EXTENT PERMITTED BY APPLICABLE LAW) ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY OF ANY DISPUTE ARISING UNDER OR RELATING TO THIS AGREEMENT AND AGREES THAT ANY SUCH DISPUTE SHALL BE TRIED BEFORE A JUDGE SITTING WITHOUT A JURY.
18. Guaranty Agreement:
By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees payment to Barr Realty & Auction Co., Inc. of any bid amount not paid when due by the business entity or corporation, for any reason, together with all collection expenses incurred to enforce collection, including a reasonable attorney's fee.
19. Limitation of Liability:
If, for any reason, Barr Realty & Auction Co., Inc. is unable to make available or deliver any Purchase, or portion thereof, or documentation required in respect of any Purchase at time of pickup, the sole liability of Barr Realty & Auction Co., Inc., if any, shall be the return of any paid monies in respect of such Purchase upon its return by Purchaser.
20. Disputes:
Any dispute between Barr Realty & Auction Co., Inc., its Agents or Representatives and the Buyer(s) will be tried in a court of jurisdiction in Breckinridge or Meade Counties, Kentucky. By bidding on any item, buyer agrees to all terms and conditions set forth.
21. Age Requirement:
All bidders must be eighteen (18) years of age or older.
22. Firearms Regulations:
Bidders must abide by any local, state, or federal laws set forth on any firearm purchases.
23. Bidding Notes:
If the “starting” bid is $2 and the asking bid is $2, a bid has not yet been placed on the item.
If the “current” bid is $2 and the asking bid is $4, a two dollar bid has been placed on the item.
The above examples are the only time that two dollar bids are allowed.
Bidding Increments:
$0 - $20 = $2 Increment
$20 - $100 = $5 Increment
$100 - $500 = $10 Increment
$500 - $1,000 = $25 Increment
$1,000- $3,000 = $50 Increment
$3,000 - $5,000 = $100 Increment
$5,000 – $10,000 = $250 Increment
$10,000 -50,000 = $500 Increment
$50,000-$200,000+ = $1000 Increment
If you placed a bid for a certain dollar amount, then notice that another bidder has the current winning bid for the same dollar amount, it is because the other bidder had previously placed a “max” bid for the same amount. The situation indicates the winning bidder had actually placed the “max” bid prior to your bid but the bid had not yet been forced higher by competing bids. Your bid caused the winning bidder’s bid to escalate to the bidder’s “max” bid.
24. NOTICE: IMPORTANT/PLEASE READ: Auctioneers and/or a Barr Realty & Auction Company, Inc. representative have/has the option of reopening the bidding for any item/items if they deem a computer or electronic malfunction prevented a potential or existing bidder(s) from placing bids. Even though a bidding time may have ended, and the computer screen may show the bidding is “CLOSED”. The auctioneers and/or a Barr Realty & Auction Company, Inc. representative may reopen the bidding at their sole discretion.
25. After the online auction is completed, should a winning bidder be unresponsive to pay/pickup, does not schedule a pay/pickup or does contact Barr Realty & Auction reserves the right to, on behalf of the seller, assign a new buyer and price to initial winning bidders lot(s)/item(s).