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Estate of Estelle Norris Auction

JOIN US FOR AN AUCTION PREVIEW

THURSDAY – NOVEMBER 11th
3:00 P.M. – 5:30 P.M.

ABSOLUTE AUCTION

SATURDAY – NOVEMBER 20, 2021 – 10:30 A.M.
ESTATE OF ESTELLE NORRIS
BRICK HOME w/ BASEMENT
103.37 ACRES (+/-) OFFERED IN 10 TRACTS

JOIN US FOR AN AUCTION PREVIEW

THURSDAY – NOVEMBER 11th
3:00 P.M. – 5:30 P.M.

ABSOLUTE AUCTION

SATURDAY – NOVEMBER 20, 2021 – 10:30 A.M.
ESTATE OF ESTELLE NORRIS
BRICK HOME w/ BASEMENT
103.37 ACRES (+/-) OFFERED IN 10 TRACTS

390 NORRIS LOOP
LORETTO, KY 40037

Note: This property has not been offered on the market since 1963!
The Lancaster Agency, Inc. Auction Staff is proud to represent the Estate of Estelle Norris & the Norris family
as we offer this exciting opportunity to purchase this outstanding home & exceptional farm at
ABSOLUTE AUCTION ON SATURDAY, NOVEMBER 20th, 2021 AT 10:30 A.M.
NO RESERVES OR MINIMUMS!

Estate of Estelle Norris Gallery

Additional Information

THE LAND – 103.37 ACRES (+/-) WITH 2 PONDS – OFFERED IN 10 TRACTS

This great laying spread of land has it all…Starting with an awesome location in the gorgeous Loretto/Holy Cross area of Marion County in central Kentucky close to Maker’s Mark Distillery, also Bardstown & just an hour (+/-) away from both Louisville (I-65) & Lexington (Bluegrass Parkway)…Plus it is located in the award-winning West Marion Elementary School District! The farm offers excellent soil compositions (Please see the Soil Map for more details) & a Preliminary Septic System Site Evaluation has been completed on the residential building lots – Tracts 2 through 6. All five tracts have been deemed feasible for modified gravel & pipe or chamber systems (Please see the Marion County Environmental Services Preliminary Site Evaluation Report for more details). Note: As another added bonus…The Marion County Water District has installed a 3″ water line along Norris Loop in front of Tracts 1 through 8 giving easy access to water for all of those tracts. The home tract (Tract 1) will be connected to this water line prior to the auction date (Please see the Marion County Water District Spec Sheet for more details). Inter-County Energy electrical service is also easily accessible along Norris Loop. On August 11, 2021 Marion County Road Department Supervisor, Jimmy Rakes approved entrances for Tracts 2 through 8 on the Norris Loop county road.

THE HOME

This neat brick home is centrally located on the farm right on the Norris Loop asphalt county road in the northwestern corner of Marion County. The home features 1,255 square feet of living area with 4 bedrooms, a full bathroom at the end of the hallway, an eat-in kitchen w/ a pantry (includes the refrigerator & propane gas stove), an L-shaped living room & a full unfinished basement w/ a shower & toilet…The basement offers plenty of storage space & a great place for shelter during inclement weather! The home has had many updates throughout the years including the central heating & air conditioning system (new air conditioning unit in 2010 & a new furnace in 2015) & updated plumbing…Plus energy efficient replacement double pane/double tilt windows throughout the home & much more! Outside the home offers an attached carport w/ a concrete driveway, several nice shade trees & magnificent views of the entire farm from the back yard! Note: As an added bonus…A totally new septic system w/ a 1,000 gallon septic tank & lateral lines has been installed on the home tract (Tract 1).

THE 10 TRACTS

Tract 1: .93 Acre (+/-) w/ Home & New Septic System
Tract 2: .76 Acre (+/-) Residential Building Lot
Tract 3: .93 Acre (+/-) Residential Building Lot
Tract 4: .93 Acre (+/-) Residential Building Lot
Tract 5: .93 Acre (+/-) Residential Building Lot
Tract 6: .92 Acre (+/-) Residential Building Lot
Tract 7: 19.06 Acres (+/-) Agricultural Land w/ 50′ of Road Frontage on Norris Loop
Tract 8: 21.54 Acres (+/-) Agricultural Land w/ a Pond & 50′ of Road Frontage on Norris Loop
Tract 9: 30.96 Acres (+/-) Agricultural Land w/ a Pond & Easement Access
Tract 10: 26.41 Acres (+/-) Agricultural Land w/ Easement Access

ORDER OF SALE

1st Offering
To be offered as a whole, Tracts 1 through 10 grouped together totaling 103.37 acres (+/-).

2nd Offering
Round 1 – TRACT 1 (Home Tract) to be offered individually BY THE TRACT.
Round 2 – TRACTS 2, 3, 4, 5 & 6 to be offered BY THE TRACT utilizing the ‘pick & choose’ auction method. The highest bidder will have the priority to select the tract, or contiguous tracts desired at that price per tract.
Round 3 – TRACTS 7, 8, 9 & 10 to be offered BY THE ACRE utilizing the ‘pick & choose’ auction method. The highest bidder will have the priority to select the tract, or contiguous tracts desired at that price per acre.

* No sale is final until all offerings have been completed. The real estate will be sold per the offering 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 20, 2021.

* The 2021 Property Taxes have been paid by the Seller.

NOTE

The real estate and 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 or Tom Brahm at (270) 402-7191.

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. – Broker/Auctioneer
Charles E. Lancaster, Sr. – Auctioneer
Tom Brahm – Auctioneer
Irvin Abell – Apprentice Auctioneer
Trey Abell – Apprentice Auctioneer