ABSOLUTE ONLINE ONLY AUCTION * NEW YORK STYLE CONDOMINIUM Paducah, KY

OPEN HOUSES: MONDAY, MAY 18TH 2015 FROM 5:00 PM - 6:30 PM

MONDAY, MAY 25TH 2015 FROM 5:00 PM - 6:30 PM

Previews may also be scheduled by appointment with Chris Colson Auction & Realty Co. LLC @ (270) 444-0031

Broker Co-op

Laura Petrie
Sirk & Company Realtors
270-217-217

INTRODUCTION: Online bidding only @ www.colsonsells.com. This is a timed event. Online bidding opens Tuesday, May 19th 2015 @ 10:00 AM and ends Tuesday, May 26th 2015 @ 6:00 PM. There will be open house previews on Monday, May 18th and Monday, May 25th from 5:00 PM – 6:30 PM. If you need assistance placing a bid or prefer to submit a bid in person, please call our office. Please take video tour below. We hope you enjoy your bidding experience!

REAL ESTATE: Are you searching for a safe place to live near hospitals and other amenities? Chateau Maurice offers all of that and much more. This condominium building is the only one of its kind in Paducah! You can see who is at the front door from the safety of your own unit with your very own intercom system with built-in voice and video! Park inside the garage and take the elevator to avoid braving the weather to get from the car to your door! The spacious & open living/dining room layout allows ample space to create your own room arrangements. The mature trees in the backyard give you a serene feeling of peacefulness usually only found in the country. You won’t be disappointed in the fully equipped kitchen with plenty of cabinets & counter space! Awesome extras include a sauna room and in-ground pool! This is an outstanding 3 Bedroom 2 bath condo with +/- 1150 sq. ft. of living space located on the 2nd floor with a private balcony overlooking the pool. Chateau Maurice is within the city limits near shopping, restaurants, churches, schools, hospital & more!

CONDO EXPENSES: Ms. Lintz’s Condo Association Dues were $125.00 per month due on the 1st of every month. Ms. Lintz had her contents insured through State Farm Fire & Casualty Insurance Company, and the amount was $528.29 for a one-year premium. Insurance premiums vary. Building insurance based on square footage. Ms. Lintz's insurance was +/- $500.00/year.

INTERIOR: There is an eat-in kitchen with an open layout for the dining room & living room. Kitchen: +/- 8’ x +/- 6’ with a Whirlpool side-by-side refrigerator, Kenmore electric stove, Kenmore dishwasher, & Kenmore trash compactor. Living room: +/- 14’ x +/- 15’ with a sliding door leading to the +/- 5’6” x +/- 10’9” private balcony, separate dining area, utility room with a 40 gal. Rheem electric water heater, sink, stackable washer & dryer hook up, Rheem furnace air handler, & a 100 Amp breaker panel. Bedroom 1 is +/- 9’ x +/- 11’, bedroom 2 +/- 13’ x +/- 14’, & bedroom 3 +/- 11’ x +/- 12’. Refrigerator, stove, dishwasher, & trash compactor stay with condo. All other home furnishings will not remain with condo purchase.

BROKER CO-OP: Laura Petrie, Sirk & Company Realtors - 270-217-2170

AGENTS PROCURE YOUR BUYERS NOW. CALL OFFICE FOR REGISTRATION FORM

AUCTION WILL BE CONDUCTED ONLINE ONLY AT WWW.COLSONSELLS.COM

AUCTION TERMS AND CONDITIONS

REGISTRATION: Proper and complete online registration is required to bid. All bidders must provide name, address, phone number, and email address to register. A credit card (MC or Visa) is required to actually place a bid on the property. The credit card will be validated before bidding access is granted, but is not a recognized form of payment of the deposit or purchase price. Should a winning bidder fail to complete the contract signing process, the required deposit will be charged to the credit card provided at registration. By registering, all bidders acknowledge having read and agree to be bound by the auction terms and conditions. Bidders may register prior to, or during the bidding period. At registration bidders are given the option of receiving emails confirming their individual bids and/or when they are outbid.

VERIFICATION: The identity of all bidders will be verified and bidding rights are conditional. If a completed verification/registration is not possible, Chris Colson Auction & Realty Co. LLC may reject the registration at its discretion and bidding activity will be terminated. The Seller and selling Agents reserve the right to preclude any person from bidding if there is any question regarding the person’s credentials, fitness, etc. When using the web site you must obey all local state and federally applied laws, if any. Bidders agree to keep their username and password confidential as they are responsible for any and all activity involving their account. Violations will result in termination of web site use privileges.

BIDDING ONLINE: This property is offered under the specific terms provided in the purchase contract. Please read and review the contract thoroughly before bidding. If you have not read and reviewed the contractual purchase agreement for the above mentioned real estate, please do not bid. This is a timed event and all bidding will start and end at designated times. (If you need assistance placing a bid or prefer to submit a bid in person, please call our office (270) 444-0031.) To place a bid, bidders enter their “maximum” bid and click the “Place Bid” button. Each time the bidder is outbid by another bidder, the system will automatically bid on their behalf at the established bid increments up to their maximum. The system will advance the bid (by the bid increments) only when the bidder is outbid by another bidder, up to the bidder’s maximum bid. The Auction Co., Auctioneer, Agents, Subagents or Representatives do not know any bidder’s maximum bid. The system will not advance a bidder’s own bid. Chris Colson Auction & Realty Co. LLC, Real Estate Online Auctions also has an auto extend feature. If a bid is placed in the final 5 minutes of an auction, the auction ending time will be automatically extended 5 minutes from the time the bid was placed. Example: if an auction scheduled to close at 6:00 receives a bid at 5:58, the close time will automatically extend to 6:05. 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 BIDDING.

BIDDING SOFTWARE: In the event there are technical difficulties related to the server, software or any other online auction-related technologies Chris Colson Auction & Realty Co LLC, reserves the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor CHRIS COLSON AUCTION & REALTY CO. LLC 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 as necessary if necessary.

ONLINE AUCTION BIDDER DEFAULT: Successful bidder not executing and returning the contract with earnest money deposit within 48 hours of conclusion of the auction will be considered in default. In the event a winning bidder fails to submit the signed Contract for Purchase of Real Estate, the 15% earnest money deposit will be charged on the credit card provided at auction registration. Additional default remedies are reserved by Chris Colson Auction & Realty Co. LLC and the Seller as provided in the Auction Terms and Conditions and the Contract for Sale of Real Estate. The Auction Co. 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 auction.

If any dispute should arise between Chris Colson Auction & Realty Co. LLC, Agents, Subagents or Representatives and the Buyer(s) or Seller(s), mediation will be agreed upon by enlisting a neutral party before trying in a court of law. By bidding on the property, buyer agrees to all terms and conditions set forth.

Any and all bidders are responsible for their own inspections and verifications of the subject property at their own expense prior to the close of the online bidding.

POSSESSION: Possession given at closing.

EASEMENTS: Subject to any and all easements of record, including road easements and utility easements

AGENCY: Chris Colson Auction & realty Co. LLC Agents, Subagents and or Representatives are agents of the Seller. Buyer and or Bidder agrees to hold harmless and indemnify Chris Colson Auction & Realty Co. LLC and its Agents, Subagents and or its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc. The Auction Co. its Agents, Representatives or Employees may bid and buy.

NEW INFORMATION, CORRECTIONS, AND CHANGES: Please check for updated information prior to scheduled auction time for changes, corrections, or additions to the herein described property information.

AUCTIONEER BROKER/SELLER DISCLAIMER: Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. All decisions of Chris Colson Auction & Realty Co. LLC are final.

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 the information contained herein is accurate and complete. The property is selling in its ‘as-is’ condition with no warranties expressed or implied and will not be held liable in any way if seller can not deliver general warranty deed with clear title, or will not honor any bid for whatever reason, or if property is contaminated with hazardous waste, in need of repair or attention, or unsatisfactory to bidder in any way. In the event seller cannot deliver the herein described deed & clear title, good faith deposit will be refunded in full to purchaser/s. Purchaser/bidder buying home built before 1978 have received EPA lead-based paint handout, have had in excess of 10 days to inspect the property & waive their rights to a lead-based paint inspection. This online only auction is not a contingent purchase. Not 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.

BUYER’S PREMIUM EXAMPLE: A buyer’s premium of ten percent (10%) will be added to the final bid and included in the total contract price for bidder(s).

Sample calculation High bid = $100,000.00

(10% of $100,000.00) Buyer’s Premium = $10,000.00

Total purchase price = $110,000.00

 

FINANCING: Condominium is not selling contingent on financing. It is strongly recommended that potential bidders ensure in advance that they are able to obtain the necessary financing to close the transaction or refrain from bidding.

CONTRACT SIGNING: At the conclusion of the auction the Winning Bidder will receive an email confirming his/her winning bid status. Successful bidder/s will be required to enter into a purchase agreement immediately following the close of bidding. Auction Co. will e-mail documents to be executed. Documents will be returned by e-mail or in person within 48 hours of the close of bidding.

The Auctioneer or his representative will contact the Winning Bidder that evening or the following morning to address any questions concerning the required process. Should the electronic processes described above be unavailable, alternative arrangements will be made. In any event, the contract signing and deposit payment process must be completed within 48 hours of the close of the bidding. A Winning Bidder whose documents and deposit are not received within the required timeframe is subject to paying a liquidated damages amount equal to the down payment (charged to the credit card used at registration) and will not be allowed to bid in any future Chris Colson Auction & Realty Co. LLC auction events. Note that specific purchase agreement documents are available prior to the auction end date and time, and any professional reviews of such documents should be undertaken prior to bidding.

GOOD FAITH DEPOSIT (DOWN PAYMENT): The Winning Bidder shall be required to make an earnest money down payment equal to 15% of the total purchase price. This deposit must be paid by certified check, wire transfer or cash within 48 hours of close of auction. No credit cards may be used for down payment. Winning Bidder whose documents and deposit are not received within the required timeframe are considered in default and subject to paying a liquidated damage amount equal to the down payment (charged to the credit card used at registration) and will not be allowed to participate in any future Chris Colson Auction & Realty Co. LLC auctions. 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, if any. Closing will be as specified in the Contract for Sale of Real Estate. Purchasers may close on or before 30 days. Successful bidder(s) will be required to enter into a purchase agreement immediately following close of the auction. Chris Colson Auction & Realty Co. LLC will e-mail documents to be executed, and said documents should be faxed or e-mailed back to the Auction Co. within 48 hours of the end of the auction. Successful bidder/s who do not execute and return the property specific purchase agreement with earnest money deposit within 48 hours will be considered in default.

CLOSING: The Winning Bidder shall close within 30 days of the auction date, unless stated differently in the Purchase Agreement. The seller will pay for deed preparation and deed transfer tax. 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.

EVIDENCE OF TITLE: Buyer is responsible for title examination and closing costs by the attorney or title company of their choice. If any lien or cloud on the title is discovered, seller shall remedy this issue per contractual agreement. Failure to correct per agreement will result in the good faith deposit to be returned to buyer/bidder in full. Fee simple title delivered.

DEED: Seller shall execute a general warranty deed conveying the real estate to the buyer(s).

REAL ESTATE TAXES & ASSESSMENTS: Taxes are to be prorated as of the closing date.

RESTRICTIONS: Any recorded restrictions (if any) and zoning regulations apply.

EASEMENTS AND LEASES: Sale of said property is subject to any and all recorded easements of record and any and all leases, if any.

AGENCY: Chris Colson Auction & Realty Co. LLC, and its representatives are Exclusive Agents of the Seller.

BROKER PARTICIPATION: A commission of 2% of the high bid will be paid to any properly licensed Broker who registers a successful buyer according to the appropriate Broker Participation Agreement. This form is available from the Auction Company and must be completed and returned no later than 48 hours prior to the auction end date.

DISCLAIMERS AND ABSENCE OF WARRANTIES: The information in the auction advertising was obtained from sources believed to be accurate, but is subject to verification by all parties relying on it. All dimensions are approximate. No liability for its accuracy, errors or omissions is assumed by the Seller or the auction company. All bidders are responsible for conducting their own inspections, investigations, inquiries and due diligence concerning the property. The property is being offered on an “AS IS”, “WHERE IS” basis and no warranty or representations, expressed or implied, is made by the Seller or the auction company. All information contained in the advertising and all related materials are subject to the terms and conditions outlined in the purchase agreement.

PRE-AUCTION SALES: As exclusive agents for the Seller, the Auctioneer has a fiduciary obligation to present any and all offers to the Seller. Therefore, all properties are subject to pre-auction sales. Pre-auction offers must meet all auction terms and be submitted to the Auctioneer on the Real Estate Sale Contract along with the required deposit. Properly submitted offers will be presented to the Seller, who may accept or reject such offer in their sole and absolute discretion.

VIDEO LINK:
https://youtu.be/8mtmHTDplRc