House, Buildings & 79 +/- Acres at Absolute Live/Online Auction

Absolute Multi-Parcel Auction of The Late “Lee Philpot “Farm 
House, Buildings & 77 +/- Acres at Absolute Live/Online Auction
Saturday, October 12th, 2024 at 10:30AM
985 Mike Genton Rd Crab Orchard, Ky

  Personal Property and Guns at Absolute  Online Only Auction - Bidding Ends at 2:00pm 

Preview Date: Thursday, October 3rd, 2024 from 2 pm to 5 pm

Discover the peaceful charm of the late "Lee Philpot" farm at an absolute multi-par auction, offering an incredible opportunity to own part of this scenic property. Tract #1 features 5.34 acres, including a picturesque brick home with white columns, two barns, and a shed, perfect for storage, animals, or a dream workshop. The home offers two levels, with a den, bedroom, bath, and garage on the first floor, while the second level boasts a living room, kitchen with dining area, two bedrooms, and access to a covered deck overlooking serene acreage. This home also includes a two-car carport addition, blending convenience and countryside charm.

Tract #2 spans 33.11 acres with frontage along Mike Genton Road and includes a pond, making it ideal for a home site, farming, or as an investment opportunity. This mostly cleared land is a versatile space with endless potential and would make a great addition to Tract #1 for those looking to expand their property.

Tract #3, the largest at 39.13 acres, offers mostly cleared land with woodland and a small branch, presenting endless possibilities for a home site, crop ground, or a place for animals. Together, these 78.81 acres provide the perfect setting for a forever home or a peaceful retreat. Don’t miss this incredible opportunity—bid in person or online!

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.

EARNEST MONEY: 20% of the total sale price down as a non refundable earnest money at the close of the 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. 

Note:  The purchaser of a single-family residence built before 1978 has a maximum of 10 days to inspect the property of lead-based paint. The period for inspections begins on September 30th through October 11th. The successful bidder must sign a waiver of the 10-day inspection period.

MULTI-PARCEL AUCTION:  The property will be offered in tracts utilizing the multi-parcel method and selling in the manner that reflects the best returns for the sellers.  This concept gives each and every prospective buyer the ability to purchase his or her individual tract or combination.

This auction is a CASH SALE not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by bidders at registration prior to bidding and specified in the attached Contract for Sale of Real Estate.

GOOD INSURABLE GENERAL WARRANTY DEED AT CLOSING.

REAL ESTATE TAXES AND CLOSING COSTS: All real estate taxes will be prorated for 2023. 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.

MULTI-PARCEL "SIMULCAST" LIVE & ONLINE AUCTION INSTRUCTIONS/TERMS:

Ford Brothers, Inc.  Online Auctions are timed events, so time is of the essence. At Ford Brothers Multi-Parcel auctions, to bid you must proceed to the catalog.  Inside the catalog, you will need to bid on individual tracts of property, until combinations have been enabled. If you wish to bid on a combination of tracts, we suggest that you do not bid on individual tracts, because you can be placed in the lead on an individual tract of property at any time during the auction. Please check for announcements and notes from the software auctioneer in charge. There is NOT a max bid feature via the Multi-Parcel online auction platform.  There are lots of announcements and warnings during auction, giving each bidder fair warning the auction will be closing. Please place bids in a timely manner.  If you have any questions about bidding in the Multi-Parcel Simulcast format, be sure to give us a call at 606-679-2212.

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.

For more details, contact us today!

Michael Broughton, Auctioneer