ABSOLUTE COURT ORDERED AUCTION
THURSDAY MARCH 22ND 10:00 AM
5700 SQ FT COMMERCIAL BUILDING
DOWNTOWN SHELBYVILLE, KY
Location: 512 Main Street, Shelbyville, KY 40065. Take US 60 into downtown Shelbyville, across from old courthouse.
Real Estate: Known as the Hall Building, this historic commercial building is in the prime business district of downtown Shelbyville, KY. The building is approx. 5700 sq ft with the lower level finished with office space, meeting room, reception area and kitchen area. The second floor has offices and most of the area upstairs is ready to be finished into possibly apartments, office condo’s, small business area that overlooks the garden area of downtown Shelbyville.Great opportunity to own this prime commercial building at your price.
Public Inspection: Sunday March 18th 2-4 pm and 1 hour before the auction start time.
Terms: 10% Deposit day of the auction with balance due in 30 days after auction date.
In order to comply with the orders of the Shelby Circuit Court, the Commissioner will sell the property described in the following action on the date shown above at the hour of 10:00 A.M. ONSITE. Said property shall be sold to raise the amounts hereinafter set forth, together with interest and the costs of the action, and upon the (unless otherwise indicated) following terms and conditions.
Each of the foregoing parcels of real estate shall be sold on terms of cash deposit or cashier’s check or certified check in the amount of the purchase price, or a minimum 10% down at the time of sale and the balance thereof due and payable in thirty (30) days after date of sale. The purchaser(s) of said real estate shall have the right to pay all or any part of the purchase price by cashier's or certified check on day of sale; if the purchaser(s) does not elect to pay the entire purchase price by cashier's or certified check, the Master Commissioner shall take from the purchaser(s) by cashier's or certified check the sum of at least 10% down and a good and sufficient bond with surety acceptable to the Master Commissioner payable to the Master Commissioner for the balance of said purchase price, and bearing interest from date of sale at the rate of 12% per annum until paid in full. Compliance with the foregoing terms shall be at time of sale and the requirement of good surety shall not be waived by the Master Commissioner under any circumstance other than prior order of the Court. The bid of any purchaser not complying with said terms shall be rejected by the Master Commissioner and the property immediately resold.
Each tract or parcel of real estate shall be sold subject to the following:
A. All ad valorem real estate taxes, currently due and delinquent taxes not accounted for in foreclosure proceeding, for which the purchaser(s) shall receive no credit against the purchase price;
B. Easements, restrictions, stipulations and agreements of record in the Office of the Clerk of the County Court of Shelby County, Kentucky;
C. Assessments for public improvements levied against the property;
D. Any facts which an inspection and accurate survey of the property may disclose;
E. Any and all planning and zoning regulations imposed upon the subject property.
MASTER COMMISSIONER’S NOTE
All prospective purchasers are advised to fully understand and consider the following:
1. All properties are sold strictly “as is, with no warranties expressed or implied”. Properties shall be at the Shelby County Judicial Center. No prior inspections are arranged by the Court or the Master Commissioner in that properties are often occupied as of day of sale.
2. Risk of loss to improvements to real estate shifts to purchaser as of date of sale. Insurance should be placed immediately by successful bidder.
3. All properties sold for less than two-thirds of appraised value are subject to current owner statutory right of redemption pursuant to Kentucky Revised Statutes.
4. Rights of possession given to purchasers with deed, but holdover occupants of real estate may require additional Court action by purchaser to acquire actual possession.
5. Master Commissioner’s deed warrants title only so far as authorized by the judgment, orders and proceedings of the Court, but no further. Independent title examination by successful purchaser is recommended prior to confirmation of sale.