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Absolute Real Estate Auction - Innwood Condos
Date & Time: Bid now! Auction Closes Monday, October 20, 2014 Beginning at 7pm
Location: Online-only.

Highlights:

Absolute Online Real Estate Auction

4501 S. 6th St., Innwood Condos Unit 10 - Louisville, KY 40214

No Reserve - No Minimum

The Settle the Roy Ellen Hammann Estate


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Categories: ALL ITEMS (1)
Notes: Online bidding only.

Terms:
Real Property Terms & Conditions

Questions: All questions should be directed to Realty Hotwire, LLC. Contact auctioneer Joe Gribbins at (502) 550-7045 for any questions pertaining to the Real Estate. Contact Steve at (502) 489-5515 for any questions regarding the bidding site.

Realty Hotwire, LLC.
12200 Shelbyville Road Suite 222
Louisville, KY 40243
Office: (502) 489-5515 Fax: (502) 489-5516
Email: office@realtyhotwire.com

Open House

Thursday, October 16th 5-7pm

Sunday, October 19th 2-4pm

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 - this information is obtained to deter defunct bidding. Registration may only be completed with an acknowledgement that the bidder has read and understood all terms and conditions for the sale and online bidding. Each registered bidder will be assigned a permanent number to be used on all online auctions through Realty Hotwire. These numbers will not be applicable at any live auction or auctions through our affiliate companies since we use a different database for that information.

To Register, first READ ALL TERMS & CONDITIONS, then click the link at the top of the page or click here.

Buyer’s Premium: A 10% buyer’s premium will be added to the winning bid to determine the final contract selling price. For example, if the closing bid is $20,000, the Buyer’s Premium would be $2,000 resulting in a final contract selling price of $22,000.

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.

Online bids can be made using two methods: “Your Bid” and “Your Maximum.”
“Your Bid:” This feature allows the bidder to input a single bid as in a live auction. For example: the bid is currently $100,000 placed by bidder A. Bidder B wishes to bid $105,000. By placing a bid of $105,000 in the “Your Bid” box, Bidder B now has the current winning bid. If Bidder A wishes, he/she may bid again, continuing the auction cycle.
“Your Maximum:” This feature does your bidding without the bidder 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 $87,000 with Bidder A having the winning bid. Bidder B wants to place a bid and is willing to bid as much as $95,000. If Bidder B places a maximum bid of $90,000 the bid rises only to $88,000. Bidder A returns to the property online and places a maximum bid of $92,000. The program automatically does the bidding: A-$89,000, B-$90,000, A-$91,000, B-$92,000. The bidding stops at $92,000 with Bidder B winning because the next bid would be $93,000, which is more than Bidder A’s limit. Note that even though Bidder A was willing to bid $92,000, Bidder B has the current winning bid of $92,000 due to the back-and-forth mechanics of auction bidding. 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. Any bidder can raise a bid or a maximum bid at any time prior to the close of the auction.

Bidding Increments: Online bids must be in multiples of $250 (i.e. $11,000, $11,250, $11,500, etc.). The minimum online bid increment for this auction is $250.

Close of Bidding: Bidding is scheduled to close beginning at 7:00PM Eastern Time, Monday, October 20, 2014 with Extended Bidding.

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 Realty Hotwire, LLC, by personal delivery, email, or fax no later than 4:00pm EDT, Tuesday, October 21, 2014. A copy of these contracts are posted and available for review online on the bidding page.

Down Payment: The buyer shall make a non-refundable down payment of $3,000.00. The down payment must be received by Realty Hotwire, LLC, no later than 4:00PM EDT on Tuesday, October 21, 2014. The down payment may be in the form of cash, an official bank check, certified check, good personal check, or wire transfer.

Closing: Closing must be on or before November 21, 2014, at which time the Buyer shall pay the balance of the purchase price. 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 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. As required by Kentucky statute, the auctioneers and staff hereby disclose that they reserve the right to bid at this auction.

Online bidding is offered as a courtesy. The Auctioneer, Broker, Agent, Realty Hotwire, LLC., 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.

Condo Maintenance Fee & Transfer Fee: The monthly maintenance fee is $150.00 and shall be prorated between Buyer and Seller as of date of closing. The Innwood Condominium $100 Transfer Fee is an expense to the buyer.

Condo Master Deed & Bylaws: This property is sold and purchased subject to Innwood Condominiums Master Deed And Declaration, Amendments, the bylaws of the Innwood Condominium Property Owners Association, Inc. and all other applicable Development & Association regulations and rules. Links to the Master Deed and Bylaws are below.

Warranties: The property is being sold in “as is” condition with no warranties of any kind as to condition or purpose. Potential buyers are welcome to get any home 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.

Lead Based Paint Disclosure: Due to the age of the properties, it is possible that they may contain lead-based paint. Buyer shall sign the disclosure and acknowledgment form indicating that they have been informed about the possibility of lead-based paint.

Real Estate Information Documents

Click here for the Purchase Contract
Click here for the PVA Documents
Click here for the Lead Based Paint disclosure
Click here for the Title Exam and title commitment
Click here for the Condominium Seller's Certificate
Click here for the Innwood Condominium Master Deed
Click here for the Innwood Condominium Bylaws
Click here for the Innwood Condominium Financials
Click here for the Innwood Condominium Purchaser Transfer Fee

Broker Participation

A Broker or agent whose client is the buyer of the real estate may be entitled to a 1% broker participation fee. Agents must register their client prior to 5:00 pm (EDT) on October 19, 2014. Click here for the Broker Participation Form.

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 Realty Hotwire, LLC.

Auctioneer's Right to Bid: In accordance with KRS330.220(6)(a), it is hereby disclosed that, with permission from the seller, the auctioneer and any auction staff members reserve the right to bid.

Click here to bid on the property.

Contact: Realty Hotwire, LLC
12200 Shelbyville Rd, Ste 222
Louisville KY 40243
Phone: 502-489-5515
Fax: 502-489-5516
Email Web-page
Bidder number Password

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