Cabin, Garage on 1/2 Acre & 1/2 Lake Lot at Absolute Live/Online Auction
Saturday, March 30th, 2024 at 10:30 AM
1000 E HWY 1248 Somerset, Ky 

The auction for this Saturday is being postponed due to an issue with the Army Corps of Engineers not agreeing with the property lines.  We wish to resolve this problem before the sale and will notify all registered bidders prior to re-posting the property for auction once resolved.  The personal property will continue to sell as scheduled.

Thank you for your continued support and we look forward to seeing you at future auctions. 

- Ford Brothers Inc. Auctioneers

Previews:  Thursday, March 21st, 2024 from 3:00PM to 6:00PM & Tuesday, March 26th, 2024 from 3:00PM to 6:00PM

Pending Survey

Up for auction on March 30th, 2024, is a charming property located at 1000 E HWY 1248 Somerset, KY. The centerpiece is a cozy log cabin with a two-bedroom layout upstairs, boasting hardwood floors and a welcoming gas fireplace in the living room. The basement offers a convenient one-car garage, a kitchen/bath combo, and extra living space. Additionally, three-car detached garage and a carport provide ample storage for all of your toys. The property will be divided into two tracts, each approximately half an acre in size, pending survey, both with a stunning view of the lake. This property holds a prime location, situated just before the Fishing Creek Boat Ramp & Campground, making it a haven for outdoor enthusiasts. An extra lot accompanies the cabin and garage, with a 4-plex structure(likely needing to be removed), but offers a fantastic opportunity for lake-view development. Don't miss the chance to bid on this versatile property with endless potential.

BUYER’S PREMIUM:  There will be a 10% buyer’s premium added to the last bid to determine the final sales price.

NOTE:  Live/Online bidding will be available. 

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 whether the information contained herein is accurate and complete.  The property is selling in its as-is condition with no warranties expressed or implied.

Announcements made the day of the auction take precedence over printed matter.

If you have any questions regarding the property, please contact us at 606-679-2212.

Matt Ford , Auctioneer

REAL ESTATE TERMS:

Buyer's Premium: There will be a 10% Buyer’s Premium added to the winning bid to determine the final sale 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. 

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 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.

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!

Matt Ford, Auctioneer