Conveniently located just off Hwy 39 and E Hwy 80, close to downtown Somerset, this versatile commercial property spans just over 1 acre and offers a range of possibilities. Formerly the Southeastern Water Association office, the property features a block office building with a lobby, spacious office area, conference room, maintenance room, multiple storage spaces, and two restrooms. A paved parking area surrounds the building, while the larger lot includes a fenced area with sheds for additional storage. Perfect for any small business including, construction or equipment companies, professional services, health services, and more, this property is ready to adapt to a wide variety of business needs. Don’t miss this auction opportunity!
Commercial Property - Office Building & Lot at Absolute Live/Online Auction
Former Southeastern Water Association Building
Friday, November 22nd, 2024 at 1:30PM
147 E Somerset Church Rd, Somerset, KY 42503
Conveniently located just off Hwy 39 and E Hwy 80, close to downtown Somerset, this versatile commercial property spans just over 1 acre and offers a range of possibilities. Formerly the Southeastern Water Association office, the property features a block office building with a lobby, spacious office area, conference room, maintenance room, multiple storage spaces, and two restrooms. A paved parking area surrounds the building, while the larger lot includes a fenced area with sheds for additional storage. Perfect for any small business including, construction or equipment companies, professional services, health services, and more, this property is ready to adapt to a wide variety of business needs. Don’t miss this auction opportunity!
SIMULCAST AUCTION TERMS:
Online "Simulcast" Auction Information:
Ford Brothers, Inc. Online Auctions are timed events and all bidding will close as each lot is sold. Ford Brothers, Inc. To bid in the Simulcast format, you must proceed to the catalog, click "Enter Live Auction" option at the top of the catalog that will be available approx. 15 minutes to the start of the Live/Online Auction and at the point you will be on the Simulcast Auction Bidding Platform. You will need to bid fast and pay attention to the chat window for warnings. There is NO countdown timer.
Simulcast Bidding Options:
Each lot will become available in sequential order and you will need to use the red "Bid" button to bid the next increment available. You can use the chat to ask any questions, but you cannot use it to bid. If you have any questions about bidding in the Simulcast format, be sure to give us a call at 606-679-2212.
REAL ESTATE TERMS:
Auction Premium: There will be a 10% Auction Premium added to the winning bid. The sum of the winning bid plus the Auction Premium will be the sales price. Example: Bid Price $100,000 plus $10,000 (10% buyer’s Fee) equals purchase price of $110,000.
DEPOSIT: 20% of the total sale price down as a non refundable earnest money in the form of a certified check, cash or wire transfer within 48 hours of the close of auction. We do not accept a credit card for down payment. The balance of purchase price is due at closing, said closing to be within 30 days of close of bidding. Purchaser shall be responsible for all wire transfer fees. Closing will be as specified in the Contract for Sale of Real Estate.
REAL ESTATE TAXES AND CLOSING COSTS: All real estate taxes will be prorated for 2024. The purchaser will pay all other closing costs associated with the purchaser’s side of the sale, including local and state recording fees and any cost associated with the purchaser’s loan. The seller will pay for deed preparation and deed tax.
All property is sold in “AS IS” and “WHERE IS” condition. ALL SALES ARE FINAL! Bidder understands and agrees that no refunds, exchanges, adjustments, chargebacks, etc, will be allowed. Property is available for inspection at specified times and it is the bidder's responsibility to determine condition. Bidder's failure to inspect any item or lot will not constitute grounds for any claim, refund, adjustment, chargeback, etc.
All description information has been gathered from sources which we believe to be reliable but is not guaranteed. Auctioneer makes no warranty or guarantee of any kind with respect to condition, authenticity, provenance, source, condition, suitability for a particular purpose, etc. Auctioneer reserves the right to change, modify, delete any item or lot or description in the auction as may be necessary.
SERVER & SOFTWARE TECHNICAL ISSUES: In the event, there are technical difficulties related to the server, software or any other online auction-related technologies, Ford Brothers, Inc. reserves the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor FORD BROTHERS, INC. SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Email notifications will be sent to registered bidders with updated information as deemed necessary by Ford Brothers, Inc.
Any dispute between Ford Brothers, Inc, its Agents or Representatives and the Buyer(s) will be tried in a court of jurisdiction in LOCATION County, Kentucky. By bidding on the property, the buyer agrees to all terms and conditions set forth.
Agency: Ford Brothers, Inc.' Agents and Representatives are agents of the Seller. Buyer and or Bidder agrees to hold harmless and indemnify Ford Brothers, Inc. and its Agents and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.
Ford Brothers, Inc., reserves the right to alter this agreement at any time. This will take place by updating this site. Please check back and review these terms as every time you use this site you are agreeing to the terms as they are written at that time.
Auction company employees and/or auction company may bid on and purchase auction items.
BIDDER DEFAULT: Failure to complete a purchase is illegal and will result in one or more of the following (1) prosecution (2) loss of bidding privileges for Ford Brothers and all other MarkNet auctions.
If a bidder at any time feels his/her username, password or bidder number has been compromised due to lack of security by the bidder, notify Auctioneer immediately.
TIME IS OF THE ESSENCE in regard to all auction terms.
AUCTIONEER/BROKER/SELLER DISCLAIMER: The information contained herein is believed to be correct to the best of the auctioneer’s knowledge. The information is being provided for the bidder’s convenience and it is the bidder’s responsibility to determine the information contained herein is accurate and complete. The property is selling in its “as-is” condition with no warranties express or implied.
For additional information contact the auctioneers at 606-679-2212.
Announcements made the day of the auction take precedence over printed matter.
Tyler Mounce, Auctioneer
REAL ESTATE TERMS:
Auction Premium: There will be a 10% Auction Premium added to the winning bid. The sum of the winning bid plus the Auction Premium will be the sales price. Example: Bid Price $100,000 plus $10,000 (10% buyer’s Fee) equals purchase price of $110,000.
DEPOSIT: 20% of the total sale price down as a non refundable earnest money in the form of a certified check, cash or wire transfer within 48 hours of the close of auction. We do not accept a credit card for down payment. The balance of purchase price is due at closing, said closing to be within 30 days of close of bidding. Purchaser shall be responsible for all wire transfer fees. Closing will be as specified in the Contract for Sale of Real Estate.
REAL ESTATE TAXES AND CLOSING COSTS: All real estate taxes will be prorated for 2024. The purchaser will pay all other closing costs associated with the purchaser’s side of the sale, including local and state recording fees and any cost associated with the purchaser’s loan. The seller will pay for deed preparation and deed tax.
All property is sold in “AS IS” and “WHERE IS” condition. ALL SALES ARE FINAL! Bidder understands and agrees that no refunds, exchanges, adjustments, chargebacks, etc, will be allowed. Property is available for inspection at specified times and it is the bidder's responsibility to determine condition. Bidder's failure to inspect any item or lot will not constitute grounds for any claim, refund, adjustment, chargeback, etc.
All description information has been gathered from sources which we believe to be reliable but is not guaranteed. Auctioneer makes no warranty or guarantee of any kind with respect to condition, authenticity, provenance, source, condition, suitability for a particular purpose, etc. Auctioneer reserves the right to change, modify, delete any item or lot or description in the auction as may be necessary.
