Real Estate Terms & Conditions
5455 and 5406 Juniper Beach Rd., Prospect, KY 40059
Questions: Questions regarding the property and/or auction should be directed to Joe Gribbins or
Rick Wardlow with Wardlow Auctions Inc.
Wardlow Auctions, Inc.
12200 Shelbyville Road Suite 222
Louisville, KY 40243
Office: (502) 489-5515 Fax: (502) 489-5516
Auctioneer - Rick Wardlow (502) 593-3888
Inspections: All descriptions and information are believed correct, but are not guaranteed. The
home is being sold “as is - where is” with no guarantees or warranties. It is the Bidders
responsibility to inspect the property and research any and all descriptions and information to
their complete and full satisfaction prior to bidding. Potential buyers are welcome to get any home
or other inspections they desire prior to the auction. However, the sale will not be contingent
upon any inspections, either prior to or after signing of the Auction Purchase Contract.
Bidders are encouraged to attend the following previews/open houses:
• Wednesday, July 10, from 5-7 pm
• Sunday, July 14, from 2-4 pm
• Sunday, July 21, from 2-4 pm
Buyer’s Premium: A 10% buyer’s premium will be added to the winning bid to determine the final
selling price. For example, if the closing bid is $300,000, the Buyer's Premium would be $30,000,
resulting in a final contract selling price of $330,000.
Bidding: Online bidding is to be understood as a binding contract. Bids will be taken with the
understanding that the bidder will honor their winning bid with sufficient funds in the specified
time frame. Notification of the winning bid will be made immediately at the auction's close.
Bidding Increments: The bidding increments for this auction are set at $1,000; thus all bids must
be in increments of at least $1000. The auctioneer reserves the right to adjust the increment
amount at any time during the auction.
Placing Bids: Online bids can be made using two methods: selecting the green button that says “Bid
(amount)” or selecting the green button that says “Set Max.”
“Bid (Amount):” This button shows the next bid required and allows the bidder to input a single bid
as in a live auction. For example: if the bid is currently $300,000, the green box will say “Bid
“Set Max” Feature: This feature enables you to set a maximum bid so the computer does your bidding
having to constantly view, log in, and bid on an item. Setting a maximum online is much like coming
to a live auction with a preset spending limit in mind. The program will bid for you, in the
prescribed increments, and only up to your spending limit for the item. For example: the current
bid is $300,000 with Bidder A having the winning bid. Bidder B wants to place a bid and is willing
to bid as much as $400,000. If Bidder B places a maximum bid of
$400,000 the bid rises only to $301,000. If Bidder A returns and places a maximum bid of $410,000,
the program automatically does the bidding in the pre-established increments. In this example the
bidding will stop at
$401,000 with Bidder A winning because the next bid would be $402,000, which is more than Bidder
Maximum bid amounts are kept confidential. Please note that the bid history page will post a
message if the current high bid has been a result of a Maximum Bid. You can raise a bid or raise
your maximum bid at any time prior to the close of the auction.
Close of Bidding: Bidding is scheduled to close Monday, July 22, 2019 beginning at 7:00 p.m.
Eastern Time. All bids/offers should be made through this bidding site and shall be in accordance
with the Terms and Conditions set forth for this sale.
Extended Ending: The close of bidding will be subject to a extended ending, whereas at the close of
the auction, any bidding activity will automatically extend the closing for 5 minutes. The bidding
will continue to remain open as long as there is activity within 5 minutes of the previous bid. If
there is no bidding activity within another 5 minutes, bidding will then be closed.
Contract Execution: Following the auction, the successful bidder will be emailed, faxed, or
delivered a contract to be signed by the prospective buyer and returned to Wardlow Auctions by
personal delivery, email, or fax no later than 2:00 pm EDT, Tuesday, July 23, 2019. A copy of this
contract is posted on the bidding page and available for review online.
Down Payment: The buyer(s) shall make a non-refundable down payment of $30,000. The down payment
must be received by Wardlow Auctions Inc. no later than 2:00 PM EDT on Tuesday, July 23, 2019. The
down payment may
be in the form of an official bank check or wire transfer payable to Wardlow Auctions Inc.
Closing: Closing for the properties must be on or before August 31, 2019. The Buyer shall pay the
balance of the purchase price at closing. Buyer and Seller shall pay their respective closing costs
as is common and customary to Jefferson County, Kentucky.
Disclaimer: Any and all documentation provided in preparation for this auction has been obtained
and forwarded in good faith to potential bidders for their convenience and information only. Such
information is not warranted and as such the Seller, Auctioneer and Broker shall not be held liable
for inaccuracies in the information. Potential buyers are encouraged to obtain or verify, before
the close of bidding, any information they consider critical to their decision to purchase.
Online bidding is offered as a courtesy. The Auctioneer, Broker, Agent, Wardlow Auctions, Inc.,
Seller, and the internet and software providers do not guarantee or warrant the online bidding
procedure and/or system to operate without interruption or malfunction.
Taxes: All real estate taxes due and payable in the calendar/fiscal year of closing shall be
prorated between Buyer and Seller as of the date of closing as is common and customary to Jefferson
No Conditions or Contingencies: The property is being sold and purchased in “as-is” condition,
“with-all-faults and attributes”, with no guarantees or warranties of any kind as to condition,
fitness, use, or future use of the property and with all defects, apparent, non-apparent and
latent. The sale in not contingent upon any factors including, but not limited, to financing,
appraisal, or inspection. Potential buyers are welcome to get any inspections they desire prior to
the auction. The sale will not be contingent upon any inspection, either prior to or after signing
of the Auction Purchase Contract.
Penalties: Any bids found to be fraudulent will result in all appropriate legal action.
Delinquencies will also prevent the individual from participating in any further auctions conducted
by Wardlow Auctions, Inc.
Real Estate Information Documents: Click on the “Documents” tab on the bidding page for links to
estate information documents. All information provided in advertising and otherwise is believed
correct, but is not guaranteed.
Broker Participation: A Broker or agent whose client is the buyer of the real estate may be
entitled to a broker participation fee equal to 2% of the final bid price. Agents must register
their client prior to 5:00 pm on Monday, July 22, 2019. Brokers and agents may obtain the
registration form by clicking here.
Auctioneer's Right to Bid: In accordance with KRS330.220(6)(a), it is hereby disclosed that, with
permission from the seller, the auctioneer, broker, agent, and any staff members shall be able to
place bids on their own behalf or on behalf of bidders who do not have access to a computer.
Registration: Registration is free but does require several important pieces of information. As
with our live auctions, bidders must be registered with a full name, address, and telephone number.
An email address is also required so bidders may be sent winning bid notifications. Information
from either a MasterCard or Visa is to be held on file must be provided in order to authenticate
the bidder and deter defunct bidding. No charges will be made against the card. Registration may
only be completed with an acknowledgment that the bidder has read and
understood all terms and conditions for the sale and online bidding.