Mostly open acreage fronting Springdale Rd. with county water available. Parcel 4 is selling subject to and a right to use a septic lateral line easement located on Parcel 3 (See the Auction Plat). Buyer(s) are aware that the real estate is subject to the notes of the record plat of Plat Book 8, Page 200 , of record in the office of the Meade County Clerk. This real estate is being sold subject to Meade County Planning and Zoning rules, mandates and regulations. Preliminary septic site tests have been performed on Lots 2, 4, 5, 6, 7, 8 and 9. Due to the unknown number of bedrooms for a home and the location of home desired by the buyer, the Sellers, Brokers, Agents or Auctioneers do not guarantee that septic permits will be issued for this real estate. It is the sole expense and responsibility of the new owner to apply for and conduct a formal and complete septic site test evaluation. Subject to Covenants and Conditions of Springdale Subdivision recorded in misc. Book 5 Page 226 and revised in the Misc. Book 5 Page 300 both in the office of the Meade County Clerk. The portion of the deck/stairway that extends from parcel 3 on to parcel 4 can be removed by the buyer of parcel 4 at any time. Buyer of Parcel 3 does not have the right to use said deck beyond Parcel 3 property line. The deck located on Parcel 3 and Parcel 4 is in need of repairs. There is a pond which covers land on parcels 3, 4 and 5. Each landowner has use of the portion of the pond which covers their land only. Any water lines connected to the water well located on parcel 3 that extend(s) on to other parcels can be disconnected by the new owner of parcel 3. A Meade County Road Department official verbally approved driveway entrances for Lots 2, 4, 5, 7, and 9. It is highly recommended that the new landowners duly and formally apply for driveway entrance permits immediately after receiving deed to real estate, since rules and regulations may/can change in the future. The Sellers, Brokers or Auctioneers do not guarantee that driveway entrance permits will be issued for this Real Estate. It will be the buyer’s responsibility to obtain a permit from the Meade County Road Department.
ABSOLUTE ESTATE
ONLINE BIDDING ONLY ENDS
TUES., NOVEMBER 19TH @ 4:00 PM EST
LOCATED IN MEADE COUNTY at 260 Springdale Road, Guston, KY 40142. From the intersection of U.S. Hwy 60 East and Stith Valley Rd., take Hwy 1238 (Stith Valley Rd.) 1.7 miles and right on Springdale Rd., go 0.3 mile to the real estate on right (signs posted.)
BARR REALTY & AUCTION CO., INC. has been selected by the Ray Sr. and Lovell Cottrell Estate, Ray Cottrell Jr., Executor, to conduct this online absolute estate auction. Auctioneers Mark Barr, Stephen Barr, Jamie Barr, Chris Barr, Dennie Armes, Evan Barr, Apprentice Eric Barr, and Realtor Jacob Henning with offices in Hardinsburg and Brandenburg, KY.
HOME • OUTBUILDINGS • 9 ACRES
Online bidding only is now open. Click the View & Place Bids Here button.
Welcome to an exceptional executive estate, set on approximately 9 picturesque acres, where sophistication meets functionality. This property, which includes a beautifully custom-built home, a horse barn, equipment shed, and various other outbuildings, will be auctioned online in parcels and combinations, allowing bidders to tailor their purchase to meet their needs. Built in 1995 by Ray Sr. and Lovell Cottrell, the home spans over 3,950 square feet of crafted living space, with an expansive unfinished walkout basement offering additional potential. Upon entering the main level, you'll be greeted by a grand foyer with soaring open ceilings that extend to the second floor. The main level seamlessly flows into a spacious living room, a cozy family room, and a large, well-appointed kitchen featuring an island bar and a wealth of cabinetry. The primary suite is a sanctuary of its own, boasting generous dimensions, a private bathroom, and dual walk-in closets. Additional highlights of the main floor include another bedroom, a full bath, a half bath, two central gas furnaces, an enormous pantry, a gas fireplace, and elegant hardwood floors. Upstairs, you’ll find three additional bedrooms and a full bath, all served by an independent central air and heat pump HVAC system with a LP gas backup. The home is equipped with modern conveniences including an oversized two-car garage, a charming covered wraparound porch, a radon mitigation system in the basement, four strategically placed hot water heaters, and thoughtfully designed landscaping, complemented by a concrete driveway. The property’s impressive outbuildings include a 36’ x 56’ horse barn with stalls, a loft, an office, and a small workshop area, alongside a 35’ x 48’ equipment shed. There are also two horse shelters (12’ x 24.5’ and 12’ x 12’) and two fenced paddocks, reflecting the Cottrells' passion for Thoroughbred horses. The estate will be available in various parcel sizes, from one to three acres. The home benefits from a pond, water well, and county water, ensuring a well-rounded and functional estate for its next owner.
INSPECTION: The home and improvements will be available for inspection on Wednesday, November 13th from 4:00 to 6:00 PM EST and Tuesday, November 19th from Noon to 4:00 PM EST at 260 Springdale Road, Guston, KY 40142. If you need help registering or placing a bid give us a call at 270-422-2136 or 270-756-2136.
TERMS & CONDITIONS: REAL ESTATE: Deposits: Parcel 3 requires a $30,000 deposit and Parcels 4, 5, 7, 8 & 9 require a $7,000 deposit each. Deposit to be made in the form of cash, cashier’s check, personal check with up-to-date bank letter guaranteeing funds, or wire transfer. Balance due by December 30th, 2024. POSSESSION: Date of new deed transfer only. TAXES: 2024 real estate taxes shall be paid by the seller. Other online bidding terms apply, see BarrRealtyAuction.com for details. BUYERS PREMIUM: A 10% buyer’s premium will be added to all winning bids to determine the final selling price. IMPORTANT NOTICE: All real estate sold as is where is condition with no warranty or guarantee expressed or implied. Although information has been obtained from sources deemed reliable, neither the seller nor the auctioneer makes any warranty or guarantee, expressed or implied, as to the accuracy of the information herein contained. It is for this reason that buyers should avail themselves of the opportunity to inspect prior to the auction. All announcements from the auction block take precedence over any printed material or any oral statements made. Not responsible for accidents.
The Ray Sr. and Lovell Cottrell Estate
TERMS & CONDITIONS: REAL ESTATE: Deposits: Parcel 3 requires a $30,000 deposit and Parcels 4, 5, 7, 8 and 9 require $7,000 per parcel. Deposits are required within 48 hours of the auction ending time. Deposit to be made in the form of cash, cashier’s check, personal check with up-to-date bank letter guaranteeing funds, or wire transfer. Balance due by December 30th, 2024. POSSESSION: Date of new deed transfer only. TAXES: 2024 real estate taxes shall be paid by the seller. Other online bidding terms apply, see BarrRealtyAuction.com for details. BUYERS PREMIUM: A 10% buyer’s premium will be added to all winning bids to determine the final selling price. IMPORTANT NOTICE: All real estate sold as is where is condition with no warranty or guarantee expressed or implied. Although information has been obtained from sources deemed reliable, neither the seller nor the auctioneer makes any warranty or guarantee, expressed or implied, as to the accuracy of the information herein contained. It is for this reason that buyers should avail themselves of the opportunity to inspect prior to the auction. All announcements from the auction block take precedence over any printed material or any oral statements made. Not responsible for accidents.
This property is offered in 6 Parcels. Each tract is offered individually, high bidders choice, and in combination with other tracts and the property in its entirety. The configuration that produces the best offer to the seller will determine how the property sells. Barr Realty and Auction Co., Inc. has the sole authority the resolve any bidding disputes as they may arise.
Auction End Times: All of Barr Realty and Auction Co., Inc.'s Online Real Estate Auctions are times events and subject to the extended bidding due to bidding activity. Barr Realty and Auction Co., Inc. reserves the right to adjust the auto extension time period. Example: Barr Realty and Auction Co., Inc. Online Real Estate Auctions have a "Dynamic Close" auto extend feature. Any bid placed within 5 minutes of the advertised auction end time will automatically extend the auction for 5 minutes from the time the bid is placed. Example: If an auction is scheduled to end at 4:00 PM and receives a bid at 3:59 PM, the "Dynamic Close" auction extension auto-extend feature remains active until no further bids are received on the entire bidding group of properties within the auto-extend time frame and which time the auction will close. Barr Realty and Auction Co., Inc. reserves the right to adjust the auto extension time period. Bidder Verification: The identity of all bidders will be verified, bidding privileges are provisional, and if complete verification is not possible, Barr Realty and Auction Co., Inc. reserves the right to reject the registration and bidding activity is subject to termination.
Bid Increment Table:
$0 - $10,000 = $100
$10,500 - $100,000 = $500
$101,000 - $500,000 = $1,000
$505,000 And Up = $5,000
1. Real Estate Terms and Conditions:
NOTE: If you require any type of government guaranteed loan such as VA, FHA, RHS or KY Housing Corporation, PLEASE DO NOT BID! There are no financing contingencies for homes sold at auction. If you are obtaining financing it is recommended that you use a conventional type loan only. You should speak with your loan officer prior to bidding to ensure that the financing can be completed within the allowed time frame and according to the terms and conditions as shown on the purchase contract agreement and addendum.
2. This online only 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 Agreement to Purchase Real Estate.
3. A Buyer’s Premium of 10% is added to the high bid. At the close of the auction, the successful Bidder will be emailed an Agreement to Purchase Contract to be executed and returned to Barr Realty & Auction Co., Inc. within Forty-Eight (48) hours. Successful Bidders will make their deposits in the form of cash, cashier’s check, or wire transfer with Barr Realty & Auction Co., Inc. within Forty-Eight (48) hours of the completion of the auction.
4. Purchaser will be responsible for all wire transfers.
5. Per the Contract, time is of the essence; you should proceed to closing within Thirty (30) days. Possession shall be given to the successful Buyer(s) at closing. Any closing fees charged by the buyer(s) lender or closing attorney will be a buyer(s) expense.
6. Successful Bidders not executing and returning their Contract with Earnest Money deposit within 48 hours of the conclusion of the auction will be considered in default. If your closing is delayed for any reason, by you, as purchaser or other parties working on your behalf, including any lender you involve, you may be declared in breach of this contract, forfeit all deposits made and could be additionally liable for any and all costs incurred by Seller and Barr Realty & Auction Co., Inc. incurred in a subsequent resale of the property.
7. Buyer(s) must be prepared to make a cash offer. There are no contingencies to this sale (i.e. financing, appraisal, repairs or inspections). Therefore, you should be pre-qualified by a lender prior to bidding if you require financing. This property is being sold for cash “as is, where is.” with a closing deadline.
8. SERVER & SOFTWARE TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Barr Realty & Auction Co., Inc. reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the Company providing the software nor Barr Realty & Auction Co., Inc. shall be held responsible for a missed bid or the failure of the software to function properly for any reason.
9. Barr Realty & Auction Co., Inc. reserves the right to remove or cancel the bids and or bidding rights and privileges of any party at any time deemed not to be in the best interest of the seller. The identity of all bidders will be verified, bidding rights are provisional and if complete verification is not possible, Barr Realty & Auction Co., Inc. will reject the registration and bidding activity will be terminated.
10. Barr Realty & Auction Co., Inc. will make its best efforts to accept and submit your bids. However, due to possible equipment malfunctions, lapsed time due to internet connections or bidders not acting quickly enough we do not guarantee that a bid will be received and/or accepted. It is of no benefit to wait to the last second to submit a bid. In the event bidding is active the auto extend feature will automatically extend the time unless we inform you otherwise. It is for this reason that we highly recommend that you submit any and all bids as quickly as you can to ensure that it is received/accepted.
11. Auctioneers and/or a Barr Realty & Auction Company, Inc. representative have the option of reopening the bidding for any item if they deem a computer or electronic malfunction prevented a potential or existing bidder from placing bids. Even though a bidding time may have ended and the computer screen may show the bidding is CLOSED. The auctioneers and/or a Barr Realty & Auction Company, Inc. representative may reopen the bidding at their sole discretion.
12. Barr Realty & Auction Company reserves the right to change a bidder’s user name and/or password at any time for any reason.
13. Buyer acknowledges they are buying property “as is, where is”, without inspections or contingencies, Buyer(s) will rely on his/her own judgment and inspection.
14. Barr Realty & Auction Co., Inc. and their representatives are Exclusive Agents of the Seller(s).
15. Real Estate is sold subject to any and all existing matters of record and all easements building use or zoning laws and regulations.
16. All Barr Realty & Auction Co., Inc. Online Only Real Estate Auctions are timed events that have an auto-extend feature. Any bid placed within 5 minutes of the auction ending will automatically extend the auction for 5 minutes from the time the bid is placed. Example: If an auction scheduled to end at 12:00 p.m. receives a bid at 11:59 a.m., the close time of the auction automatically extends to 12:04 p.m. The auto-extend feature remains active until no further bids are received within the 5 minute time frame. Auto extend all extend feature.
17. IMPORTANT NOTICE: Bidders agree to keep their username and password confidential as they are responsible for ANY and ALL activity involving their account.
18. When using the website you must obey any and all local state and federal laws. Violations will result in termination of website use privileges.
19. Auction company employees and/or auction company may bid on auction items.
20. We gather aggregate information from this web site which may include but is not limited to: number of page visitors, most visited pages, any and all correspondence. All property sold “as is where is” condition with no warranty or guarantee expressed or implied. Although information has been obtained from sources deemed to be reliable, neither the seller nor the auctioneer makes any warranty or guarantee, expressed or implied as to the accuracy of the information herein contained. It is for this reason that buyers should avail themselves of the opportunity to make an inspection prior to the auction. All instant announcements from the auction company take precedence over any printed material or any oral statements made. Not responsible for accidents.
21. This is a binding agreement upon the buyer. If the buyer defaults on this agreement, the real estate can be sold again. The buyer will be responsible for paying the monetary difference between the selling prices and all expenses incurred in the resale including but not limited to advertising, promotion, sales fees, closing fees, buyers premiums, attorney fees and court costs.
22. Any and all bidders acknowledge, agree, and accept that Barr Realty & Auction Co., Inc. reserves the right to disclose or not to disclose, at their discretion, the identity of any bidders to other bidders after the completion of any auction.
