Absolute Auction - Commercial Real Estate

TERMS & CLOSING:  Purchaser shall make a down payment at the conclusion of the auction of 15% of purchase price in the form of cash, certified check, cashier's check or good personal check secured by a personal demand note.  Balance to be paid for a general warranty and insurable title on or before 30 days.   Internet bidders will pay a convenience fee of $525.00 in addition to the contract selling price for the real estate. Internet Buyer's premium will be 10.75% for the asset they are buying, and on site bidders pay a 10% Buyer's premium of the real estate.  For Bidding approval Internet bidders must make an advanced deposit of $5000.00 in Auctioneer's Escrow account to receive bidding permission approval. When they are the successful bidder balance if any due of the 15% downpayment shall be wired before close of business on Wednesday, September 23, 2009 to Auctioneer's Escrow account. Taxes to be prorated.

OWNER FINANCING: Seller will finance up to 70% of 1st mortgage at 8.75% interest amortized over 15 years. Loan will mature at end of 24 months.

ATTENTION BROKERS:  Broker participation is invited.  Call Auctioneers for details and required registration forms.  Registration deadline is 4:00 PM Monday preceding auctions.

BUYER'S PREMIUM:  A 10% Buyer's Premium will be added to the winning bid to determine the contract selling price for property.
 
AUCTION LOCATION: On-Site. 1555 Bernheim Lane, Louisville, KY

TRADES OFFERS:   Auctioneers will consider trades of other real estate equities as a portion of your purchase price, provided these are cleared with them well in advance of the auction.

PRIOR SALE:  Property is subject to prior sale.

DIRECTIONS: I-65 to Eastern Pkwy to 3rd St, south to Winkler, west to Algonquin to 16th Street, to Bernheim Lane or I-264 to Taylor Blvd t o Algonquin to 16th Street to Berheim Lane to property.