Auction Terms, Conditions and General Information

Auction Format:  This is a Sealed Bid/Live Auction offering.  To bid in the Auction, your written, Sealed Bid must be received by 6:00 PM Eastern Daylight Time, Wednesday, April 22, 2009, at the office of Wardlow Auctions Inc., 12200 Shelbyville Rd., Suite 222, Louisville, KY 40243.  Bids received after 6:00 PM will not be eligible for consideration and will be returned to sender unopened.  All bids must have a complete return address on the outside of the envelope.  Within 4 hours, the top 5 bidders will be notified to attend the Live Auction currently scheduled for Thursday, April 23, 2009.  The highest sealed bid will be the opening bid at the Live Auction.

Bidder Information Packets:  A Bidder’s Information Packet is available for all interested bidders.  These packets include copies of the Terms and Conditions of Sale, Real Estate Purchase Contract and other information relevant to the bidding and purchase of the property. Contact Auctioneer or Realtor for Bidder Packets.

Selling in “As-Is” Condition:  The property is selling “as is” with no contingencies or conditions.  A Phase 1 Environment Report was completed on Oct. 2, 2006.  To view a summary of this report, click on the link above or contact auctioneer or realtor.  To see the complete report, visit auctioneer’s office on Shelbyville Rd., by appointment.

Requirement for Placing Sealed Bids:  All bids must conform to the Real Estate Purchase Contract supplied in the Bidders Information Packet.  The submission of the bid must include a cashiers or certified check, or other pre-approved funds in the amount of $10,000.  The down payment will be returned to the non-winning bidders.

Buyer’s Premium:  A 10% buyer’s premium will be added to the high bid to determine the final contract selling price.

Closing:  Closing shall occur on or before May 29, 2009.

Subject to sale prior to Live Auction:  The Seller reserves the right to accept offers prior to the scheduled closing of the sealed bids or to accept the highest sealed bid and declare the property sold prior to the live auction. 

Terms announced day of sale take precedence over pre-published terms.

Please note:  Realtor and Auctioneer will be on site April 15 from 11 a.m. until 1 p.m. to show the property.

Troon Subdivision

Lake Forest

Subdivision

Landis Lakes

Subdivision

Luxury Homes

Christian Academy of Louisville Campus

(Private School)

Retail shops,

drugstores,

& restaurants

Signature Point

Subdivision

Luxury Townhomes

 

This property is located just minutes from I-64, the Gene Snyder

Freeway, and

Shelbyville Road.

Valencia Villas

Luxury Patio Homes

at Landis Lake

Click on the following links to view the following documents.

· Sealed bid submission form

· Dual Bid Auction—Terms of Auction

· Real Estate Purchase Contract

· Property Survey

· Summary of Phase 1 Environmental Report of Oct. 2006 (contact Auctioneer to view entire report)

· Enlarged aerial photo and line drawing of property

· Broker participation form (for brokers and agents representing bidders)

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