ABSOLUTE AUCTION – 307 W. Short Street – SAT Dec. 10, 2022 – 10AM – Building Contents Business – Lexington Kentucky

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Name: Allen Real Estate Services LLC
Allen Auctions KY Absolute Auction

Auctioneer: Tom Allen, Allen Real Estate Services LLC, www.AllenAuctionsKY.com
Type: Live
Auction Date: December 10, 2022

Terms & Conditions:

The property, contents, and business are being sold “as is”, “where is” with any and all faults included, and no warranties are expressed or implied as to the condition of the property, contents, or business.  Inspections are welcome prior to the auction and must be arranged through Clay Angelucci & Block + Lot Real Estate. Inspection is the responsibility of the purchaser and must be done prior to the opening bid at 10am Sat Dec 10, 2022.  Announcements day of sale take precedence over all printed materials.  If a fault is discovered in any printed material it is the responsibility of the purchaser to bring it to the attention of the auctioneer prior to the opening bid so that it may be addressed.

All bidders must be registered to bid and must provide proof of financial ability to successfully complete the purchase and closing prior to the opening bid at 10 am Saturday December 10, 2022.  A letter of credit or other proof of funds or the ability to complete the transaction will be required and must be presented to Clay Angelucci of Block + Lot Real Estate before 10:00 am, Saturday December 10, 2022.

Financial information for the business is available upon request with bidder registration and bank letter of credit or similar qualifications of the bidder and an NDA (non-disclosure agreement will be required). 

The property includes the lot, and all permanently attached improvements. The business includes all FF&E that is in the property at the date of the auction including inventory (if applicable), a list can be provided and attached to the purchase agreement upon request.  The business will continue to operate until the closing unless otherwise determined by the purchaser and seller in writing.  The liquor license remains with the business and may require some paperwork with the ABC Board.  The business name and all good will remains with the business.

Buyer’s Premium & Final Sales Price:  a 10% Buyer’s premium will be added to winning bid to determine the final purchase price.

A 10% deposit based on the final purchase price will be required the day of sale with execution of the purchase agreement and the balance will be due in cash on or before January 9, 2023.  Deposit will be held in the Auctioneer’s escrow account at Bank of Lexington and applied to the purchase price at closing.  The purchase is made “as is” with no contingencies. If the purchaser is unable to complete the sale for any reason the deposit will be forfeited, and the seller may pursue all legal remedies available.  Should the seller not be able to provide a clear title to the property the deposit will be refunded, and the purchaser may pursue all legal remedies available.

Allen Real Estate Services LLC and Block + Lot Real Estate has endeavored to accurately describe the property all items being sold, but the property, contents & business is to be sold “AS IS” with no contingencies. No statement in these terms, bill of sale, invoice, or elsewhere by any representative of, or person in the employ of Allen Real Estate Services LLC or Block + Lot Real Estate shall be deemed to be a warranty, representation, or assumption of liability with respect to age, condition, size, quality, variety, importance, provenance, or historical relevance of any of these items. Please note that photographs may have had size modifications for display purposes, or have been trimmed to exclude framing, matting, and wide blank margins. Also, variations in color may occur due to digital processing. Any condition statement, written or verbal, is given as a courtesy to the client, and is only an opinion. It should not be treated as a statement of fact. Allen Real Estate Services shall have no responsibility for any error or omission. The absence of a condition statement does not imply that the lot is in perfect condition or completely free from wear, imperfections, or aging. .  If a fault or error is discovered in any printed material it is the responsibility of the purchaser to bring it to the attention of the auctioneer prior to the opening bid so that it may be addressed.

By placing a bid, either in person, by phone, absentee or via the Internet, you signify that you have examined the property as fully as you desire to or that you have chosen not to examine them. If you require absolute certainty in all areas of authenticity, and the results of your evaluation leave uncertainty in your mind, we recommend you have an expert examine the property or financials for you or do not bid on the item in question. The successful bidder is the highest bidder acknowledged by the auction. In the event of any dispute between bidders, or in the event of doubt on Allen Real Estate Services LLC’s part as to the validity of any bid, the auction auctioneer will have the final discretion either to determine the successful bidder or to reoffer and resell the property in dispute. If any dispute arises after the sale, Allen Real Estate Services LLC’s sale record is conclusive.

The property, contents & business are sold “as is” with no contingencies of any kind including condition or financing. No warranty is made as to the condition, age, and description of any item. 

If you have any questions about the auction please contact Tom Allen, Auctioneer/Broker (859) 509-2222 or Clay Angelucci, Realtor (859) 338-8800.