BIDDER REGISTRATION FORM

I, _____________________________________ & ________________________________________________ (bidder/s), wish to register with Allen Real Estate Services and Block & Lot Real Estate and make an initial bid of $________________________ for the property located at 307 W Short Street, Lexington, KY 40507.

The property is to be sold at Absolute Auction on Saturday, December 10, 2022 at 10:00 am. We understand the property is being sold “as is” with no contingencies & all inspections are our responsibility and must be done prior to the auction.
We understand there will be a 10% buyer’s premium added to the winning bid to determine final sale price for the property, agree to abide by the terms and conditions of the auction, and understand announcements day of sale take precedence over all printed material.

If we are the winning bidder, we agree to execute the Auction Real Estate Sales and Purchase agreement immediately after the auction and provide Allen Real Estate Services LLC a 10% earnest money deposit to bind the agreement. I/we agree that the balance of the purchase price will be due at the closing on or before January 9, 2023 and the contract is not contingent upon financing, inspections, or appraisals. I/we accept the property and everything included “as is” as of the date of the contract.

We confirm the following requirements have been met:

· This signed and completed registration form is signed and returned to Allen Real Estate Services LLC prior to the start of the auction at 10:00 am Dec 10, 2022. No Exceptions. Return in person or by email to tabuynow@aol.com or clay@balrealestate.com.
· Bidder(s) have confirmed by email our registration form was received.
· Bidder(s) must make an initial bid on this form. This is an absolute auction any reasonable bid is acceptable for this form.
· Bidder(s) understand the property is being sold to dissolve the LLLP’s ownership of the property. Individual members of the LLLP may choose to bid on the property in their own personal interest.
· The property was purchased for $1,400,000 on 1/10/2012 and the property has been renovated since the purchase. Plus, all FF&E, liquor license, contents, remaining inventory at closing, and the business & name go with the property purchase.

The Bidder(s) by placing their signature(s) below, certify that they have read and agree to the terms and conditions, understand the closing must take place on or before January 9, 2023. Bidder(s) have inspected the subject property and all included items and accept them in their “as is” condition with no contingencies of any kind. All parties hereby acknowledge Allen Real Estate Services LLC, Block + Lot Rear Estate, Tom Allen, Auctioneer/Broker, & Clay Angelucci, Realtor represent the seller only in this transaction.

_____________________________________________________________________________________________
Registered Bidder/Customer Date email address Driver’s License #

Accepted By: ___________________________________ _________________
Allen Real Estate Services LLC & Block + Lot Real Estate Date

Different Types of Auctions

Absolute: An auction where the property is sold to the highest qualified bidder with no limiting conditions or minimum amount. The seller may not bid personally or through an agent. An absolute action is also known as an auction without reserve.
Reserve: An auction in which the seller reserves the right to accept or decline any and all bids. A minimum acceptable price may or may not be disclosed and the seller reserves the right to accept or decline any bid within a specified time.
Minimum Bid: An auction in which the auctioneer will accept bids at or above a minimum price that has been disclosed. The minimum price is always stated in the brochure and advertisements and is announced at the auctions.