Real Estate Terms & Conditions
9300 Broad Run Rd., Louisville, KY 40291
This auction is being conducted in cooperation between American Land and Farm, LLC and Wardlow Auctions Inc. Questions regarding the property and/or auction should be directed to Terry Garmon with American Land and Farm or Rick Wardlow with Wardlow Auctions Inc.
Wardlow Auctions, Inc.
3600 Chamberlain Ln., Suite 356
Louisville, KY 40241
Office: (502) 489-5515
Contact: Rick Wardlow, Auctioneer, (502) 593-3888
American Land and Farm LLC
1111 Shive Ln., Suite 100
Bowling Green, KY 42103
Contact: Terry Garmon, Auctioneer, (270) 392-1170
Inspections: All descriptions and information are believed correct, but are not guaranteed. The property 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:
Sunday, July 25, from 1-3 pm
Sunday, August 1, from 1-3 pm
Sunday, August 8, from 1-3 pm
Auction Ending Date: August 9, 2021
Pre-Auction Ending Offers: The seller reserves the right to entertain and accept an offer prior to the auction ending date. Any and all offers must be submitted on the Purchase Contract which is available on the “Document” tab on the auction bidding site. Offers will only be considered by those who have registered for the auction. The Seller is committed to the selling the property whether it be by auction or pre-auction offer.
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 $500,000, the Buyer's Premium would be $50,000, resulting in a final contract selling price of $550,000.
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 $1,000. 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 $301,000.
“Set Max” Feature: This feature enables you to set a maximum bid so the computer does your bidding without you 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. 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, August 9, 2021, 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 an 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 contacted to schedule signing of the purchase contract. The purchase contract must be signed by the prospective buyer and returned to Wardlow Auctions by personal delivery, email no later than 2:00 pm EDT, Tuesday, August 10, 2021. 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 $25,000. The down payment must be received by American Land and Farm LLC or Wardlow Auctions Inc. no later than 2:00 PM EDT on Tuesday, Aug. 10, 2021. The down payment may be in the form of an official bank check or wire transfer payable to American Land and Farm LLC or Wardlow Auctions Inc.
Closing: Closing for the properties must be on or before September 23, 2021. 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 County, Kentucky.
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 inspections. Potential buyers are welcome to get any inspections they desire prior to the auction, however 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 various real 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, August 9, 2021. 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.