ABSOLUTE AUCTION

ABSOLUTE AUCTION

THIS SATURDAY!!!

ABSOLUTE AUCTION

SATURDAY – NOVEMBER 17th, 2018 – 10:30 A.M.
99.52 ACRES (+/-) OF LAND WITH 2 PONDS – 7 TRACTS
PLUS A 3 BEDROOM / 1 BATH HOME
GREAT LOCATION – PRIME FOR RESIDENTIAL DEVELOPMENT
ROAD FRONTAGE ON
DANVILLE HIGHWAY, SHORTLINE PIKE,
RED OAK STREET & WILLOW STREET

2865 DANVILLE HIGHWAY
LEBANON, KY 40033

The Lancaster Agency, Inc. is pleased to represent Lebanon Wholesale, Inc., c/o June Rucker and Danny Rucker as we sell this magnificent farm at
ABSOLUTE AUCTION ON SATURDAY, NOVEMBER 17th, 2018 AT 10:30 A.M.
NO RESERVES – NO MINIMUMS

THE LAND – 99.52 ACRES (+/-)

99.52 acres (+/-) of some of the finest laying land in Marion County offering exceptional soil compositions including Lawrence Silt Loam, Nicholson Silt Loam, Sandview Silt Loam, Lowell-Faywood Silt Loam & Lowell-Sandview Silt Loam (Please see the Soil Map for more details). Also, Preliminary Septic System Site Evaluations have been completed and all tracts are deemed feasible for conventional or modified gravel and pipe or shallow chamber systems based on the hole locations dug on each tract (Please see the Marion County Environmental Services Report for more details). This land is perfectly located approximately one mile east of the Lebanon city limits and is prime for residential development (Tract 5 & Tract 6), great home sites (Tract 2, Tract 3, Tract 4 & Tract 7), and a home with a garage already on it (Tract 1)…Not to mention outstanding agricultural use! The land features easy access to utilities with electrical service provided by Inter-County Energy, and water service provided by the Marion County Water District (Great News…The main water line is located on the same side as this farm!). Restrictions will be in place to help protect your investment. These include a permanent restriction that no mobile homes, whether single or double wide mobile homes, modular homes, trailers, or manufactured homes will be allowed on any tract. Furthermore, no salvage or junk operations shall be located on any tract.

THE 7 TRACTS

Tract 1 – 2.75 Acres +/-: 295′ of frontage on Danville Highway. This tract offers the 3 bedroom / 1 bathroom home, garage & storage building.

Tract 2 – 2.12 Acres +/-: 210′ of frontage on Danville Highway. This tract offers a nice home building site.

Tract 3 – 2.60 Acres +/-: 100′ of frontage on Willow Street. This tract offers a nice home building site.

Tract 4 – 1.82 Acres +/-: 380′ of frontage on Danville Highway. This tract offers a 36′ X 72′ metal barn as well as a nice home building site.

Tract 5 – 40.11 Acres +/-: 50′ of frontage on Danville Highway. This tract offers mostly level land in the front which is perfect for residential development & various nice home building sites. The rear part of this tract across the fence is gently rolling.

Tract 6 – 14.54 Acres +/-: 215′ of frontage on Danville Highway. This tract is level to gently rolling and offers residential development potential & various nice home building sites.

Tract 7 – 35.58 Acres +/-: 1,065′ of frontage on Shortline Pike & 505′ of frontage on Red Oak Street. This tract offers a large pond, trees, and a wonderful home building site on top of the hill overlooking the pond & the surrounding countryside.

ORDER OF SALE

1st OFFERING

To be offered as a whole, TRACTS 1 THROUGH 7 GROUPED TOGETHER totaling 99.52 acres (+/-), per survey.

2nd OFFERING

ROUND 1
TRACT 1 (Home Tract) to be offered individually BY THE TRACT.

ROUND 2
TRACTS 2, 3 & 4 to be offered BY THE TRACT utilizing the ‘pick & choose’ auction method.
The highest bidder will have the priority to select the tract, or tracts desired at that price per tract.

ROUND 3
TRACTS 5, 6 & 7 to be offered BY THE ACRE utilizing the ‘pick & choose’ auction method.
The highest bidder will have the priority to select the tract, or tracts desired at that price per acre.

3rd OFFERING

If the total amount in the 2nd OFFERING exceeds the total amount in the 1st OFFERING, the highest bidder in the 1st OFFERING shall have the opportunity to group ALL 7 TRACTS back together for an additional $30,000 above the total amount attained in the 2nd OFFERING.

NO SALE IS FINAL UNTIL ALL OFFERINGS HAVE BEEN COMPLETED.
THE REAL ESTATE WILL BE SOLD IN THE MANNER REALIZING THE MOST MONEY FOR THE SELLER.

TERMS & CONDITIONS

* A 10% Buyer’s Premium will be added to all winning bids to determine the final sales and purchase price.

* Any purchaser of a real estate tract will pay a 20% deposit of the final sales and purchase price the day of the auction.
The balance will be due on or before December 17th, 2018.

* The 2018 property taxes paid by the Seller.

NOTE

THE REAL ESTATE & ALL IMPROVEMENTS ARE BEING SOLD AS IS.

The home was built prior to 1978 and has the potential for lead based paint. Lead based paint inspection, and any other inspections desired by prospective purchasers must be performed prior to the auction.

To inspect the real estate please call:

The Lancaster Agency at (270) 692-6748
Charles Lancaster, Jr.: (270) 692-7270
Trey Abell: (270) 402-1634

ANNOUNCEMENTS MADE THE DAY OF THE AUCTION SUPERSEDE ANY AND ALL PRIOR ANNOUNCEMENTS, DOCUMENTATION, BROCHURES, ADVERTISING, OR STATEMENTS, WHETHER ORAL, WRITTEN, OR OTHERWISE, REGARDLESS OF WHO MADE THEM OR WHEN THEY WERE MADE.

CHARLES E. LANCASTER, JR. – PRINCIPAL BROKER / AUCTIONEER

CHARLES E. LANCASTER, SR. – AUCTIONEER

TOM BRAHM – AUCTIONEER

IRVIN ABELL – APPRENTICE AUCTIONEER