TERMS: The property and improvements thereon will be sold “as is” with no warranty, express or implied. Announcements on day of sale take precedence over any advertisement. 10% down and signed contract due day of sale. There will be a 10% buyer’s premium added to the final bid price. Closing within 30 days of sale date. The information contained herein is from sources believed, but not guaranteed to be accurate. Schrader Auction Group, LLC and Schrader Commercial Properties, LLC make no representation or warranties regarding the property and you should conduct a careful, independent, investigation of the property to determine its suitability for your use and investment. 859-252-SOLD www.schradercommercial.com 207 Holmes Street, Frankfort, KY 40601 Recently remodeled +/- 7,000 SF two-story brick building with finished walkout basement. For more information, contact: James Schrader, Principal Auctioneer/Broker [email protected]Three Frankfort Properties Selling on One Day! Wednesday, June 16th - 12:00 noon Auction location for all 3 properties: 1050 US Highway 127 South OPEN HOUSE: Wednesday, May 26th, June 2nd & June 9th, 2:00-5:00pm ABSOLUTE AUCTION “Name your price. Property to be sold to the highest bidder without reserve!”
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TERMS: The property and improvements thereon will be sold “as is” with no warranty, express or implied. Announcements on day of sale take precedence over any advertisement. 10% down and signed contract due day of sale. There will be a 10% buyer’s premium added to the final bid price. Closing within 30 days of sale date.
The information contained herein is from sources believed, but not guaranteed to be accurate. Schrader Auction Group, LLC and Schrader Commercial Properties, LLC make no representation or warranties regarding the property and you should conduct a careful, independent, investigation of the property to determine its suitability for your use and investment.
859-252-SOLDwww.schradercommercial.com
207 Holmes Street, Frankfort, KY 40601Recently remodeled +/- 7,000 SF two-story brick building with finished walkout basement.
For more information, contact:James Schrader, Principal Auctioneer/Broker
Bank Contact: _________________________________ Phone:__________________
I have received and read the Terms & Conditions of sale for the Absolute Auction which are set forth in the Auction package and incorporated herein by reference. I hereby give permission to Schrader Auction Group, LLC to verify all credit references.
12/27/1989 $0 Other 365-233 RATLIFF REAL ESTATE PARTNERSHIP RATLIFF RODNEY R -ETAL-
11/1/1976 $0 Other 276-293 RATLIFF RODNEY R -ETAL-
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Auction Purchase ContractThis AUCTION PURCHASE CONTRACT (herein “CONTRACT”) is made and entered into this 16th day of June, 2021, by and between Rodney R Ratliff Trust A (herein, ”SELLERS”) and ____________________________________________ (herein “PURCHASER” whether one or more) and Schrader Auction Group, LLC, duly licensed by the Commonwealth of Kentucky as real estate brokers and auctioneers, 444 E. Main Street, Suite 110, Lexington, Fayette County, Kentucky, 40507 (herein “SELLING AGENT” or “AGENT”).
W I T N E S S E T H T H A T:SELLERS are authorized to sell and have granted to AGENTS an exclusive contract authorizing AGENTS to sell the property located at 207 Holmes Street, Frankfort, Franklin County, Kentucky, at Absolute Auction on June 16, 2021 at 12:00 noon.
At the conclusion of the absolute auction held the day, month and year first above written ______________________________________________________________ was deemed the successful bidder and deemed to be the PURCHASER.
For and in consideration of the final bid and total purchase price of $____________________, the agreements and covenants contained herein, SELLERS do hereby agree to sell to PURCHASER and PURCHASER does hereby agree to purchase from SELLERS the property hereinabove described.
1. The property is to be sold at absolute auction, without reserve, in its “as is” condition without any warranty or guaranty as to the physical condition of the property or any of the improvements thereon. The property shall include all permanent improvements located thereon but shall not include any movable personal property.
2. The final bid price of $______________________ representing the total purchase price of the said property is payable as follows:
A. The sum of $____________________, representing ten percent (10%) of the total purchase price, a check for which simultaneously with the execution of this contract, shall be presented to AGENTS for immediate deposit into their escrow account for payment to SELLERS at the closing of the said property or returned to PURCHASER or to be paid to SELLERS under other provisions hereof, if applicable.
Auction Purchase Contract B. The sum of $____________________, representing the balance of the total purchase price, shall be paid to SELLERS at the closing.
3. Closing of this said sale shall be held at the office of Schrader Auction Group, LLC on or before thirty (30) days, or at such other location as may be acceptable to both PURCHASER and SELLERS. Time shall be of the essence in closing this sale.
4. At the closing, SELLERS shall deliver to PURCHASER, or its nominee, a General Warranty Deed conveying title to the said property, free and clear of all encumbrances excepting easements, restrictions and conditions of record or as herewith set out and health and zoning regulations and other governmental regulations, if any.
5. SELLERS agree to deliver to PURCHASER complete possession of the property at the time of the closing.
6. SELLERS grants to PURCHASER the privilege of rights of ingress and egress prior to the closing to make such inspections as may be agreed upon by both SELLERS and PURCHASER.
7. All ad valorem taxes for the year 2021 assessed against the said property are to be prorated to the date of the closing and SELLERS shall pay the transfer tax.
8. In the event that the title to the property should prove unmerchantable in the opinion of the attorney for PURCHASER, SELLERS shall be notified in writing of any such defect(s) and SELLERS shall have thirty (30) days from the receipt of said written notice within which to correct said defect(s) and this CONTRACT shall be extended accordingly. In the event that title to the said property finally proves unmerchantable, then the amount of $____________________ shall be returned to PURCHASER and this CONTRACT shall be declared null and void. In the event the PURCHASER, for any reason other than failure of merchant ability of title, fails to consummate this CONTRACT, SELLERS shall retain the sum of $____________________ herewith deposited, as liquidated damages and declare this CONTRACT null and void and/or pursue such other remedies as the law may provide.
Auction Purchase Contract9. Sellers shall continue to maintain the property and continue insurance coverage until closing.
10. This CONTRACT is binding upon the parties hereto, their heirs, successors, personal representatives and assigns.
11. NO SURVIVAL OR SELLER OBLIGATION. The acceptance of a deed by the PURCHASER shall be deemed to be a full performance and discharge of every obligation on the part of the SELLERS and the AGENTS to be performed pursuant to this CONTRACT.
12. SELLERS agree to pay AGENTS a commission as set forth in a contract granting AGENTS exclusive right to sell said property at absolute auction.
We, the undersigned, have read this CONTRACT and fully understand the contents therein, and understand that this is the complete content of said CONTRACT and acknowledge the receipt of same. Further, we acknowledge that we are not relying on any verbal statements or representations by either the SELLERS or AGENTS.
IN WITNESS WHEREOF, the parties have hereunto set their hands this the day, month and year first above written.
Terms & Conditions1. The property to be sold is known as 207 Holmes Street, Franklin County, Kentucky.
2. The property is to be sold at Absolute Auction in its “as is”, “where-is” condition without any warranty or guaranty as to the physical condition of the property or any of the improvements thereon.
3. This is a non-contingent auction sale. Any information contained in the Property Information Package or otherwise obtained directly or indirectly from the Auctioneer and/or Seller is being presented to the best of the Auctioneer’s and the Seller’s actual knowledge without independent verification. Therefore, it is your sole and exclusive responsibility to inspect the property; review the documents relating to the property; assess the accuracy and completeness of the information contained in the Property Information Package and any such other documents; and independently verify and confirm any estimates, projections, or assumptions relating thereto, none of which may be considered to be guaranties. In connection therewith, you have the sole and exclusive responsibility to select and consult with any and all professional advisors of your choosing in determining whether to bid at this auction. You acknowledge that you have relied exclusively on your own investigation and determinations and the advice of your own professional advisors, and expressly represent that you have not relied upon any information provided by the Seller or the Auctioneer in any way, whether through the Property Information Package or other documents, through the Auctioneer’s website, or by any oral, written or electronic communications with the Auctioneer or the Seller, or otherwise.
4. All prospective Buyers must register prior to auction with the Agents to bid at the auction.
5. A 10% buyer’s premium will be added to the winning bid to determine the final sale price.
6. The Purchaser must pay ten percent (10%) of the gross purchase price in certified funds or check with prior approval, immediately following the auction sale and must sign the Auction Purchase Contract. The balance of the purchase price shall be paid in certified funds within 30 days of the date hereof, with time being of the essence. The closing may be postponed only in accordance with the terms of the Auction Purchase Contract.
7. The property will be conveyed to the Purchaser in fee simple, by deed of general warranty, subject to the easements, restrictions, and conditions of record, if any, affecting the property.
8. All taxes and assessments shall be prorated as of the closing.
9. The property is to be sold as a single entity and shall include all permanent improvements located thereon but shall not include any movable personal property.
10. Sellers agree to deliver to Purchaser complete possession of the property at the time of the closing.
11. Sellers shall continue to maintain and insure property until the closing.
Announcements made the day of Sale take precedence over printed material or prior verbal statements.
TERMS: The property and improvements thereon will be sold “as is” with no warranty, express or implied. Announcements on day of sale take precedence over any advertisement. 10% down and signed contract due day of sale. There will be a 10% buyer’s premium added to the final bid price. Closing within 30 days of sale date.
The information contained herein is from sources believed, but not guaranteed to be accurate. Schrader Auction Group, LLC and Schrader Commercial Properties, LLC make no representation or warranties regarding the property and you should conduct a careful, independent, investigation of the property to determine its suitability for your use and investment.
859-252-SOLDwww.schradercommercial.com
For more information, contact:James Schrader, Principal Auctioneer/Broker
