Wilma Gilliam Estate Auction

Wilma Gilliam Estate Real Estate and Equipment Auction

Saturday, April 19, 2025

10:00 a.m.

280 Beechy Hollow Road

Wallingford, KY 41093

Real Estate:

Approximately 46 acres of woodland located on Beechy Hollow Road, Lewis Co. This property has an abundance of marketable timber, very secluded, great for hunting. It is located on a county-maintained road and has a nice barn, electricity, and water.

Equipment: 2 older tractors, 3-4 vehicles (no titles), log truck

Inspection: For inspection prior to auction, please contact auctioneers

Chuck Marshall, 606-782-0374 or Ronnie Lawson, 859-494-9305

Terms: Buyer’s Premium: 7% on Real Estate final bid.

Real Estate: 10% of purchase price (non-refundable) is due on the day of the auction for the purchase of the property. Balance due at closing in 30 days, on or before May 19, 2025. 2025 property taxes will be prorated at closing. Note: No financial contingencies. Property selling is subject to all recorded or unrecorded easements, restrictions and covenants.

Although all information in all advertisements is obtained from sources deemed reliable, the auctioneer/broker and owners make no warranty or guarantee actual or implied as to the accuracy of the information. Prospective buyers should avail themselves of the opportunity to make inspection of property (real estate or personal) prior to bidding. Our company is not responsible for accidents. All property to sell in "as is condition".

Please read and review the following terms prior to bidding. If you do not understand these terms, please do not bid. By bidding, you are agreeing to abide by all terms and conditions , and understand that your bid is a legally binding offer to purchase. Please be sure of your bid before you place them. We cannot retract bids or excuse you from the purchase of any item you may be the successful bidder of. • Inspection: Bidders shall have ample time to view the property/items as set forth in auction advertising. The location, dates and times for these inspections will be posted. Chuck Marshall Auction and Real Estate, Inc. will not be held responsible for any damages which may occur while inspecting items/property. Real Estate: 10% of purchase price (non-refundable) is due on the day of the auction for the purchase of the property. Balance due at closing in 30 days, on or before May 19, 2025. 2025 property taxes will be prorated at closing. Note: No financial contingencies. Property selling is subject to all recorded or unrecorded easements, restrictions and covenants. • Time is of the essence • Agency Disclosure: Buyers understand that auctioneers are agents of the seller. Catalog/Property Descriptions: Chuck Marshall Auction and Real Estate, Inc. has made no effort to test the items cataloged. We have gathered the information provided from the seller. Please use due diligence to inspect items and property. There is no warranties, expressed or implied. There will be no returns, exchanges, or discounts on items. Property is sold in "as is" condition and it is the bidders responsibility to be satisfied with conditions before placing a bid. • Begin and end times: Auction will begin at time as stated in catalog and end at specified time as well. In the event that a bid comes in within 5 minutes of auction ending time, the auction will be extended for 5 minutes on that particular item. The auto extend feature will remain active until no further bids are received during the time frame. • Payment: Cash, good check and credit card (Master Card, Visa, Discover) will be accepted for payment within 24 hours of sale close. Credit cards will be charged an addition 4% convenience fee. Wiring instructions are available, please call office at 606-845-5010. Kentucky State sales tax of 6% will be added to those items that are not farm exempt or resale exempt. Buyers that do not have a Kentucky Agriculture Exemption (AE) number or a resale exemption will be charged sales tax. Buyers that are out of the state are required to have a Kentucky out of state farm exemption (OAE) as well. This exemption number can be obtained by submitting a completed application Form 51A800 to the Kentucky Department of Revenue. This agriculture exemption document may be obtained from the Kentucky Department of Revenue, phone number 502-564-5170 or email DOR.webresponsesalestax@ky.gov. All payments shall be made payable to Chuck Marshall Auction and Real Estate. There is a 10% buyer's premium added to the total purchase. All sales are final and there will be no credit charge backs permitted. Checks returned to our facility will be subject to a $50.00 service fee. • Default of buyer: Successful bidder not paying for items at the end of the auction will be considered in default. Such default by the successful bidder will results in that bidder's liability to both the seller and the auction company. Seller shall have the right to (a) declare this contractual agreement cancelled and recover full damage for its breach (b) to elect to affirm this contractual agreement and enforce its specific performance or (c) seller can resell the items either publicly or privately with the auction company and in such an event, the buyer shall be liable for payment of any deficiency realized from the second sale plus all cost, including, but not limited to the holding/transporting/storage cost of the items, the expenses of both sales, legal and incidental damages of both the seller and the auction company. In addition, the auction company also reserves the right to recover any damages separately from the breach of the buyer. The purchaser agrees to pay all reasonable attorney fees and cost incurred the auction company in the collection of funds. The purchaser also agrees that a storage/handling fee of 2% per month to be added to the balance of any unpaid balance due to the auction company and any other cost or losses incurred by the buyer's failure to adhere to these terms. Any debt collection or dispute proceedings will be litigated or arbitrated in Fleming Co Court at the option of both the seller and the auction company. Both the successful bidder and seller shall indemnify and hold harmless the auction company from any cost, losses, liabilities, or expenses, including attorney fees resulting from the auction company being names as a party to any legal action resulting from either bidders or sellers failure to fulfill any obligations and undertakings as set forth in this contractual agreement. • Pick up: All items shall be picked up within 30 days of auction completion. Hours for pickup will be 9-5 at our auction facility located at 4565 Maysville Rd Flemingsburg, Ky 41041 • Chuck Marshall Auction and Real Estate Company, nor the software company hosting the auction will be held responsible for missed bids related to internet or software difficulties. Auction company reserves the right to extend an auction or cancel at its discretion. • Please call us with questions 606-845-5010. • Conduct of the auction and increments of bidding are at the direction and discretion of Chuck Marshall Auction and Real Estate Co. We reserve the right to reject any and all bids for any reason and reserve the right to cancel this auction or remove any item or lot from this auction prior to close of bidding

Wilma Gilliam Estate Auction

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