|Online RE Auction - Commercial/Investment Property|
|Date & Time:||Bid now! Auction Closes Tuesday, Aug. 26, 2014 Beginning at 7pm|
|Highlights:||Online Real Estate Auction - 2001-2005 Bank St., Louisville, KY 40202
|Categories:||ALL ITEMS (1)|
|Notes:||Online bidding only.|
Questions: All questions should be directed to Realty Hotwire, LLC. Contact auctioneer Rick Wardlow at (502)593-3888 for any questions pertaining to the Real Estate. Contact Steve at (502) 489-5515 for any questions regarding the bidding site.
Realty Hotwire, LLC.
Thursday, August 21, 1-3pm and by appointment
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 all winning bids to determine the final contract selling price. For example, if the closing bid is $200,000, the Buyer’s Premium would be $20,000 resulting in a final contract selling price of $220,000.
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.”
Bidding Increments: Online bids must be in multiples of $1,000 (i.e. $11,000, $12,000, $13,000, etc.). The minimum online bid increment for this auction is $1,000.
Close of Bidding: Bidding is scheduled to close beginning at 7:00PM Eastern Time, Tuesday, August 26, 2014.
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 1:00pm EST, Wednesday, August 27, 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 $10,000.00 for each property purchased. The down payment must be received by Realty Hotwire, LLC, no later than 1:00PM EST on Wednesday, August 27, 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 October 1, 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.
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 PVA Documents
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 on April 23, 2014. Click here for the Broker Participation Form.
Sale Prior to Auction: Seller reserves the right to accept offers prior to the closing date of the online auction.
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.
|Contact:||Realty Hotwire, LLC|
12200 Shelbyville Rd, Ste 222
Louisville KY 40243
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