Charming 2 bedroom, 1 bathroom home conveniently located near downtown Somerset, KY. This property offers a great opportunity for a first-time home buyer, investor, or anyone looking for an affordable and manageable home in a convenient location. Features include a large attached carport, functional layout, and easy access to shopping, dining, schools, and all that downtown Somerset has to offer. Whether you are looking for a nice starter home or a solid rental investment, this property has plenty of potential. Don't miss this opportunity.
NOTE: This home is located in a flood zone but has never been affected.
AUCTION TERMS AND CONDITIONS
TERMS & CONDITIONS
By registering to bid and/or placing a bid, each bidder acknowledges that they have read, understand, and agree to be bound by these Terms & Conditions, the auction announcements, bidding procedures, and the Contract for Sale of Real Estate.
1. AUCTION PREMIUM
A 10% Auction Premium will be added to the winning bid. The winning bid plus the Auction Premium shall constitute the total purchase price.
Example: $100,000 winning bid + $10,000 Auction Premium = $110,000 total purchase price.
2. EARNEST MONEY
A deposit equal to 10% of the total purchase price shall be due as non-refundable earnest money, subject to the terms of the Contract for Sale of Real Estate and applicable Kentucky law.
Successful live/in-person bidders shall pay the earnest money deposit immediately following the auction.
Successful online bidders shall submit the earnest money deposit within 48 business hours following the conclusion of the auction.
Earnest money may be paid by cash, certified check, or wire transfer. Credit cards will not be accepted for earnest money deposits. Purchaser shall be responsible for any applicable wire-transfer fees.
The successful bidder is responsible for promptly communicating with Bluegrass Auction & Realty regarding contract execution and delivery of earnest money. Failure to communicate, execute required documents, or deliver earnest money within the required time may constitute default.
The balance of the purchase price shall be due at closing. Closing shall occur within 45 days of the auction, unless otherwise provided in the Contract for Sale of Real Estate.
3. CASH SALE / NO CONTINGENCIES
This is a cash sale and is not contingent upon financing, appraisal, survey, inspection, or any other contingency unless specifically stated in the Contract for Sale of Real Estate.
Buyers may obtain financing at their own discretion; however, the buyer's inability or failure to obtain financing shall not relieve the buyer of any obligation to complete the purchase.
The property is being sold AS IS, WHERE IS, with no warranties or representations, expressed or implied, except as specifically stated in the Contract for Sale of Real Estate.
4. CONTRACT EXECUTION
The successful bidder shall execute the Contract for Sale of Real Estate and any required documents immediately following the auction.
Online bidders shall execute all required documents within 48 business hours following the conclusion of the auction.
Electronic signatures, electronic documents, emailed documents, digital acknowledgements, and electronic communications may be used and shall have the same effect as permitted by applicable Kentucky law.
5. REAL ESTATE TAXES & CLOSING COSTS
Real estate taxes shall be paid the SELLER for 2026.
Purchaser shall be responsible for all purchaser-side closing costs, including, but not limited to, recording fees, lender fees, loan costs, inspections, title-related expenses, and financing-related expenses.
Seller shall pay deed preparation and applicable deed tax unless otherwise stated in the Contract for Sale of Real Estate.
6. TITLE, POSSESSION & CONVEYANCE
Seller shall convey the property by General Warranty Deed, subject to the terms of the Contract for Sale of Real Estate and with insurable title.
Possession shall be delivered at closing unless otherwise stated.
The property shall be conveyed subject to all easements, restrictions, covenants, conditions, utility easements, road easements, rights-of-way, and matters of record.
Any acreage, dimensions, boundary lines, maps, plats, surveys, or advertised measurements are approximate and provided for informational purposes only. No adjustment to the purchase price shall be made based upon surveyed acreage unless specifically stated in the Contract for Sale of Real Estate.
7. ONLINE AUCTION BIDDING & AUTO EXTENSION
Bluegrass Auction & Realty online auctions are timed events and will close at the time specified for each auction.
An auto-extension feature may be used. If a bid is placed within the final 2 minutes of an auction, the closing time will automatically reset to 2 minutes remaining.
The auto-extension will continue until no additional bids are received within the applicable 2-minute period.
8. STAGGERED CLOSING
Some online auctions may use staggered closing times.
Depending upon the number of lots in an auction, lots may close in groups at designated intervals. The closing interval may vary by auction and will be identified in the auction announcements.
Bidders are responsible for monitoring the countdown timer and reviewing the auction announcements for specific closing procedures.
9. SERVER, SOFTWARE & INTERNET ISSUES
In the event of technical difficulties involving the auction server, software, internet connectivity, mobile devices, computers, or other auction-related technology, Bluegrass Auction & Realty reserves the right to:
Extend bidding;
Continue bidding;
Reopen bidding;
Suspend bidding; or
Close bidding.
Neither the software provider nor Bluegrass Auction & Realty shall be responsible for missed, delayed, or failed bids; internet outages; loss of connectivity; bidder equipment or device failures; software malfunctions; or other technical problems beyond its reasonable control.
Bluegrass Auction & Realty may provide email or other electronic notifications regarding changes to the auction as deemed necessary.
10. AUCTIONEER'S RIGHTS
Bluegrass Auction & Realty reserves the right to reject any bid, suspend bidding, revoke bidding privileges, remove a bidder, or cancel or modify an auction when deemed necessary.
In the event of a disputed bid, tie bid, bidding interruption, technical issue, or other auction-related dispute, Bluegrass Auction & Realty reserves the right to determine the successful bidder, reopen bidding, continue bidding, cancel bidding, or resell the property.
The Auctioneer's determination regarding the conduct and outcome of the auction shall be final, subject to applicable law.
11. BIDDER RESPONSIBILITY
Each bidder is solely responsible for reading and understanding all:
Auction Terms & Conditions;
Auction announcements;
Property information;
Bidding procedures;
Contract documents; and
Other instructions provided by Bluegrass Auction & Realty.
Failure to understand or comply with auction procedures shall not relieve a bidder of obligations resulting from bidding activity or a purchase.
12. BIDDER VERIFICATION & BINDING BIDS
Bluegrass Auction & Realty may verify the identity and information of any bidder.
Bidding privileges may be denied or revoked if bidder verification cannot be completed or if Bluegrass Auction & Realty determines that a bidder is not eligible to participate.
All bids are binding and irrevocable. Bid retractions are not permitted.
13. PERSONAL PROPERTY
When personal property is included in an auction, all personal property is sold AS IS, WHERE IS, with all sales final.
No refunds, exchanges, adjustments, chargebacks, or returns will be permitted.
Items may be available for inspection at designated times. It is the bidder's responsibility to inspect items and determine their condition, authenticity, suitability, and value before bidding.
Failure to inspect an item shall not constitute grounds for a refund, adjustment, exchange, chargeback, or other claim.
Descriptions, photographs, measurements, and other information are believed to be accurate but are not guaranteed.
Bluegrass Auction & Realty reserves the right to modify, correct, remove, or delete any item, lot, photograph, description, or other auction information when necessary.
14. DEFAULT BY BUYER
Failure by the successful bidder to comply with any auction term, including failure to:
Pay the required earnest money;
Execute the Contract for Sale of Real Estate;
Complete required documents;
Close the transaction; or
Pay the balance of the purchase price when due
shall constitute a default under these Terms & Conditions and the Contract for Sale of Real Estate.
Upon default, the Seller and/or Bluegrass Auction & Realty may pursue any remedies available under the Contract and applicable Kentucky law, including, but not limited to:
A. Forfeiture of Earnest Money
The Seller may terminate the Contract and retain the earnest money deposit to the extent permitted by the Contract and applicable Kentucky law.
B. Resale of Property
The Seller may resell the property by auction, private sale, or any other lawful method. To the extent permitted by law, the defaulting Buyer may be responsible for damages resulting from the default, including any deficiency and reasonable costs and expenses associated with the resale.
C. Specific Performance
The Seller may pursue specific performance or any other remedy available under the Contract and applicable law.
D. Costs & Expenses
To the extent permitted by the Contract and applicable Kentucky law, the defaulting Buyer may be responsible for reasonable costs and expenses resulting from the default, including advertising, surveying, administrative, legal, and other related expenses.
E. Attorney Fees & Court Costs
To the extent permitted by the Contract and applicable Kentucky law, the defaulting Buyer may be responsible for attorney fees, court costs, collection costs, and other legal expenses arising from the default.
F. Loss of Bidding Privileges
A bidder who defaults may lose bidding privileges for future Bluegrass Auction & Realty auctions and, where applicable, affiliated auction platforms.
15. GOVERNING LAW & VENUE
These Terms & Conditions, the bidding process, auction procedures, and the Contract for Sale of Real Estate shall be governed by the laws of the Commonwealth of Kentucky.
To the extent permitted by applicable law and the parties' agreements, disputes shall be brought in the appropriate court of competent jurisdiction in Pulaski County, Kentucky.
16. AGENCY
Bluegrass Auction & Realty, its agents, auctioneers, and representatives are acting solely as agents of the Seller unless otherwise disclosed in writing.
Buyer acknowledges that Bluegrass Auction & Realty has no responsibility for the condition of the property beyond the obligations specifically stated in the Contract for Sale of Real Estate.
To the extent permitted by Kentucky law, Buyer agrees to indemnify and hold harmless Bluegrass Auction & Realty, its agents, representatives, officers, employees, and Seller(s) from claims, damages, liabilities, costs, or expenses arising from Buyer's actions, use of the property, or participation in the auction.
17. PROPERTY CONDITION & DUE DILIGENCE
All information contained in brochures, advertisements, websites, tax records, surveys, plats, maps, aerial photographs, photographs, descriptions, and other materials is believed to be accurate but is not guaranteed.
The property is being sold AS IS, WHERE IS, with no warranties or representations, expressed or implied, except as specifically provided in the Contract for Sale of Real Estate.
Each bidder is responsible for conducting his or her own inspections, investigations, inquiries, and due diligence before bidding.
18. ANNOUNCEMENTS
Announcements made by Bluegrass Auction & Realty on the day of the auction, whether orally, electronically, or in writing, shall take precedence over previously printed, published, or distributed materials to the extent permitted by the Contract and applicable law.
19. ELECTRONIC COMMUNICATIONS
Buyer and Bidder agree that Bluegrass Auction & Realty may communicate through email, text message, electronic notifications, electronic document delivery, and electronic signature platforms regarding the auction, bidding activity, contract execution, earnest money, closing, and related transaction matters.
20. FAIR HOUSING
Bluegrass Auction & Realty complies with all applicable federal and state fair housing laws.
QUESTIONS OR ADDITIONAL INFORMATION:
Bluegrass Auction & Realty
606-271-3377
Tucker McAlpin
Principal Auctioneer
