ABSOLUTE LIVE/ONLINE ESTATE AUCTION
OF THE LATE JIMMIE LAMB’S
85.42 ACRES – HOUSE & BARNS IN TRACTS
SATURDAY, NOVEMBER 22ND @ 10:30 A.M.
295 JOHNSON RD., BEREA, KY
The heirs of the late Mr. Lamb have authorized our firm to sell his farm and farm equipment at absolute auction.
TRACT 1 consists of 37.47 acres m/l of primarily cleared cropland. It has an abundance of road frontage along Johnson Rd. This tract is improved with an older 2 story farmhouse w/ livening room, eat-in kitchen, 2 bedrooms, bath and utility area downstairs and 2 unfinished rooms upstairs. The home has propane heat, vinyl siding, metal roof, thermopane windows, lots of cabinet space, mostly laminate flooring. Property also improved with a 24x48 metal garage and 2 barns.
TRACT 2 has 42.26 acres m/l primarily all cleared crop and pasture land. This tract joins Johnson Road and new bypass. It is improved with 2 barns with attached sheds.
TRACT 3 has 5.69 acres of mostly cleared land and an abundance of frontage along the bypass.
A small portion of tracts 2 & 3 are in a flood plain.
PREVIEW: Tuesday, November 11th & 18th from 1-6 p.m.
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.
AUCTION PREMIUM: A 10% Auction Premium will be added to the winning bid to determine the final sale price.
TERMS: Real Estate: 20% down due day of sale, with balance in 30 days with deed. Online winner: 20% down due within 48 hours of close of bidding, with balance in 30 days with deed.
Danny Ford, Auctioneer
Auction Premium: There will be a 10% auction premium added to the winning bid. The sum of the winning bid plus the auction premium will be the sales price. Example: Bid Price $100,000 plus $10,000 (10% auction premium) equals purchase price of $110,000.
EARNEST MONEY: 20% of the total sale price due 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 Sales and Purchase Agreement.
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.
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 Sales and Purchase Agreement.
GOOD INSURABLE GENERAL WARRANTY DEED AT CLOSING.
REAL ESTATE TAXES AND CLOSING COSTS: All real estate taxes will be prorated for 2025. 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.
MULTI-PARCEL "SIMULCAST" LIVE & ONLINE AUCTION INSTRUCTIONS/TERMS:
Ford Brothers, Inc. online auctions are timed events, so time is of the essence. At Ford Brothers multi-parcel auctions, to bid you must proceed to the catalog. Inside the catalog, you will need to bid on individual tracts of property, until combinations have been enabled. If you wish to bid on a combination of tracts, we suggest that you do not bid on individual tracts, because you can be placed in the lead on an individual tract of property at any time during the auction. Please check for announcements and notes from the software auctioneer in charge. There is NOT a max bid feature via the multi-parcel online auction platform. There are lots of announcements and warnings during auction, giving each bidder fair warning the auction will be closing. Please place bids in a timely manner. If you have any questions about bidding in the multi-parcel simulcast format, be sure to give us a call at 606-256-4545.
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.