THOMAS R. HUNT AUCTIONEERS

AUCTION TERMS AND CONDITIONS

BUYER’S PREMIUM: A 10% BUYER’S PREMIUM WILL BE ADDED TO THE HIGH BID OF EACH LOT TO DETERMINE THE CONTRACT SALES PRICE OF EACH LOT.

PROPERTY IS OFFERED SUBJECT TO THE SPECIFIC TERMS PROVIDED IN THE PURCHASE CONTRACT. PLEASE READ AND REVIEW THE CONTRACT THOROUGHLY PRIOR TO BIDDING ON ANY PROPERTY. IF YOU HAVE NOT READ AND REVIEWED THE CONTRACT FOR SALE OF THE REAL ESATE, DO NOT BID. THE SHED, WHICH IS LOT 3, IS SELLING SEPARATELY FROM THE LAND. THE BUYER OF THE SHED (LOT 3) IS RESPONSIBLE FOR REMOVING THE SHED WITHIN 30 DAYS FROM FEBRUARY 2, 2023. Lots 1&2 have not been surveyed. The boundaries of Lot 2 are marked on the South side via survey pins from neighboring lot. Any buyer is recommended to have their own survey performed on each lot

TERMS AND PAYMENT FOR LOTS 1& 2: THERE WILL BE A DOWN PAYMENT DUE ON THE DAY OF THE AUCTION. THERE WILL BE A DOWN PAYMENT DUE ON THE DAY OF THE AUCTION FOR LOTS 1&2. The down payment will be $1,000 For 1 and $1,000 for Lot 2. It shall be submitted as a non-refundable down payment in the form of a check ( with proper identification), cash, certified funds, or wire transfer on the day of the auction. If it is an internet buyer, the payment must be received by Thomas R. Hunt Auctioneers within 48 hours from the day of the auction. We cannot accept a credit or debit card for down payment. The balance of the purchase prices is due at closing. Purchaser shall be responsible for all wire transfer fees.

TERMS AND PAYMENT FOR LOT 3 (THE SHED): THE CONTRACT SALES PRICE WILL BE DUE ON LOT 3 ON FEBRUARY 3, 2023. THE HAMMER PRICE OF THE LOT PLUS A 10% BUYER'S PREMIUM AND A 6% SALES TAX WILL BE THE CONTRACT SALES PRICE.

EXTEND ALL FEATURE: THIS AUCTION HAS AN EXTEND ALL FEATURE MEANING THAT NO LOT WILL CLOSE UNTIL ALL LOTS CLOSE. IF A BID FOR ANY LOT IS PLACED WITHIN 5 MINUTES OF THE END TIME, THEN THE TIME FOR BIDDING ON ALL LOTS WILL BE EXTENDED FOR A 5 MINUTE PERIOD. THIS TIME EXTENSION CAN CONTINUE ON ALL LOTS UNTIL NO MORE BIDS ARE PLACED WITHIN A 5 MINUTE PERIOD.

PROPERTY SOLD "AS IS": The property is sold without contingencies of any type such as further inspections, usability, or the ability of the buyer to secure financing, and subject to any valid easements. All property is sold “as is”.

Online and onsite auctions are cash sales that are not contingent on or subject to financing, appraisal, survey, or inspections of any kind. Bidders agree to this by registering for the auction prior to bidding, and this is specified in the purchase contract for the real estate. Bidders are encouraged to perform on-site inspections of the real estate prior to bidding in the auction. Failure to do so in no way relieves the buyer of any of the terms or conditions set forth here.

INSPECTION: The real estate may be viewed prior to the auction date by appointment with Thomas R. Hunt Auctioneers, and will be available for inspection one hour before sale time on the day of the auction. Prospective buyers are advised to inspect the property to their satisfaction as it will be sold “as is” with no warranties expressed or implied.

CLOSING: THE CLOSING OF LOTS 1 & 2 IS TO BE WITHIN 35 DAYS OF THE DAY OF THE AUCTION PER THE PURCHASE CONTRACT OF THE REAL ESTATE. THE CLOSING OF LOT 3 (THE SHED) IS TO BE ON FEBRUARY 3, 2023.

TAXES: Real Estate Taxes will be prorated between buyer and seller as of closing date.

POSSESSION: Possession shall be given with the deed.

DEED: GENERAL WARRANTY DEED

AUCTION BID INCREMENTS: The Auctioneer shall determine the bid increments, which may be changed during the auction at his/her discretion.

WHO MAY BID: Any qualified bidder, including the auctioneer and any of the auctioneer's agents, may bid. Likewise, the auctioneer may, under Kentucky law, reject the bid from any bidder deemed unqualified or unfit to bid.

AGENCY: Thomas R. Hunt Auctioneers, Inc. Agents and Representatives are agents of the Seller. Buyer and/or Bidder agrees to hold harmless and indemnify Thomas R. Hunt Auctioneers, Inc and its Agents and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.

AUCTION END TIMES: Thomas R. Hunt Auctioneers, Inc., real estate online auctions are timed events and all bidding will close at a specified time. Thomas R. Hunt Auctioneers, Inc real estate online auctions also have an auto extend feature. Any bid placed in the final 10 minutes of an auction will automatically extend the end time for a period of 5 minutes from the time the bid was placed. Example: if an auction scheduled to close at 6:00 receives a bid at 5:59, the close time will automatically extend to 6:04. The auto-extend feature remains active until no further bids are received within a 5 minute time frame.

REFRESH YOUR SCREEN CONSTANTLY DURING THE CLOSING MINUTES OF THE AUCTION TO KEEP UPDATED ON THE BIDDING.

SERVER SOFTWARE AND TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Thomas R. Hunt Auctioneers, Inc reserves the right to extend bidding, continue the bidding, or close the bidding.

NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR THOMAS R. HUNT AUCTIONEERS, INC. SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERTY FOR ANY REASON. EMAIL NOTIFICATIONS WILL BE SENT TO REGISTERED BIDDER WITH UPDATED INFORMATION AS DEEMED REASONABLE BY THOMAS R. HUNT AUCTIONEERS, INC.

AUCTION BIDDER DEFAULT: A successful bidder not executing and returning the contract with earnest money deposit within 48 hours of the conclusion of the auction will be considered in default. In the event a winning bidder fails to submit the signed Contract for Sale of Real Estate and earnest money deposit within the allotted time, the winning bidder will be charged a penalty of no less than 5% of the winning bid. Any legal remedy available may be used to collect these charges. Additional default remedies are reserved by Thomas R. Hunt Auctioneers, Inc and the Seller as provided in the Auction Terms and Conditions and the Contract for Sale of Real Estate. Thomas R. Hunt Auctioneers, Inc. reserves the right to sell to the second highest bidder in the event the successful high bidder does not comply with the terms of the sale

AUCTIONEER'S NOTE: All information contained on the website, advertising, and all related materials should be verified by all interested parties. All interested bidders are responsible for conducting their own independent inspections and tests.

DISCLAIMER: Information contained herein was obtained from sources deemed to be reliable. However, neither the auctioneers, agents, nor the Seller shall be responsible for any errors or omissions herein. Announcements made the day of the sale shall take precedence over any prior advertising or other information.

Any dispute between Thomas R. Hunt Auctioneers, Inc its Agents, or Representatives and the Buyer(s) will be tried in a court of jurisdiction in Warren County, Kentucky. By bidding on the property, buyer agrees to all terms and conditions set forth.

FOR MORE INFORMATION AND QUESTIONS, YOU MAY CONTACT THOMAS R. HUNT AUCTIONEERS AT (270) 782-2299

ONLINE ONLY AUCTION IN BEE SPRING, KY