Terms & Conditions – Absolute Auction
Absolute Auction
Property SELLS TO THE HIGHEST BIDDER or BIDDERS REGARDLESS OF PRICE.

Live on-site Absolute Auction with simultaneous internet bidding available.

Buyer’s Premium
A 10% Buyer’s Premium will be added to the high bid to determine the contract price.

Example: $500,000 high bid + 10% BP = $550,000 contract price.

Earnest Money / Deposit
10% of the contract price, non-refundable (except as stated in the purchase agreement if Seller cannot convey marketable title).

On-site Absolute Auction winner: 10% due the day of the Absolute Auction (personal or business check accepted).

Wire $25,000 to escrow no later than 24 hours before the Absolute Auction to be approved to bid.

Non-winning bidders: the $25,000 is returned within 24 hours after the Absolute Auction or next business day.

Winning bidder: the $25,000 applies to your earnest money deposit. If 10% of the contract price exceeds $25,000, wire the additional amount needed to reach 10% within 24 hours after the Absolute Auction or next business day.



Winning bidder must sign the purchase agreement immediately after the Absolute Auction (on-site or electronically).

Closing
Closing to occur on or before 45 days after the Absolute Auction

Target date: on or before Friday, July 24 2026.

Balance due at closing wire transfer or Cashiers check.

No contingencies for financing, appraisal, or inspections.

2026 real estate taxes prorated as of closing per local practice.

Seller to convey marketable title by customary deed; any liens or delinquent taxes satisfied by Seller at or before closing.

Buyer pays their customary closing costs.

Absolute Auction Method & Ending
Live on-site Absolute Auction with simultaneous online bidding.

Absolute Auction bidding continues until bidding activity slows.

The Auctioneer will give “fair warning” to both live and online bidders before declaring the property SOLD at Absolute Auction.

There is no fixed ending time; the Auctioneer has sole discretion to close Absolute Auction bidding.

Bidder Verification
All bidders must register with Noel Auctioneers & Real Estate Advisors for the Absolute Auction.

Identities will be verified; if we cannot verify identity, bidding approval for the Absolute Auction may be denied.

Technical Issues (Online Absolute Auction Bidding)
In the event of a server, software, or internet failure during the Absolute Auction, the Auctioneer may extend, suspend, or close bidding.

Registered Absolute Auction bidders will be notified by email as needed.

Property Condition & Disclaimers
Property sells AS-IS, WHERE-IS, with all faults, at Absolute Auction.

No warranties, express or implied, are given by Seller, Broker, or Auctioneer.

All information is believed to be accurate but not guaranteed.

It is the bidder’s responsibility to inspect the property, review all documents, and verify any information of importance prior to bidding in the Absolute Auction.

Announcements made on Absolute Auction day take precedence over any prior advertising or printed material.

Legal Venue
Any disputes arising out of the Absolute Auction or the purchase contract shall be resolved in a court of competent jurisdiction in Jefferson County, Kentucky.