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TERMS AND CONDITIONS OF KENTON
COUNTY MASTER COMMISSIONER SALES
1. Master Commissioner Sales are "Buyer Beware" Sales.
2. The Property is sold "As Is" "Where Is."
3. The high bidder does not receive a Warranty Deed. The high bidder receives a Master Commissioner Deed with no warranties.
4. Title to the property is not warranted by the Court, by the Master Commissioner or by the Plaintiff.
5. The condition of the property is not warranted by the Court, by the Master Commissioner, or by the Plaintiff.
6. If you bid on property, you should have done your due diligence before you bid, not after! This includes both inspections of the title and liens on the property and also the condition of the property.
7. Sales are confirmed by the Circuit Court on Monday thirteen (13) days after the Sale at 9:00 a.m. If that Monday is a holiday, then the Sales are confirmed on the Tuesday fourteen (14) days after the Sale at 9:00 a.m. Deeds cannot be given until Sale is confirmed.
8. Objections to Confirmation must be in writing and filed in the Circuit Clerk's office prior to the Confirmation Motion date for the Report of Sale. Objections must be served on the Attorney for the Plaintiff and on all parties to the action and on the Master Commissioner.
9. If you are the high bidder at the Sale, you must pay in one if two ways:
(A) Cash for the full purchase price immediately following the Sale. Checks on local banks are accepted. Out of the area banks require a Cashier's or Certified check.
or
(B) You must pay the deposit required in the Judgment and Order of Sale (10% of the purchase price) and you must have a Kentucky Bank Surety to act as unconditional surety on the remaining 90% of the purchase price, plus 12% interest, which must be paid within 30 days of the Sale date. This Surety must be pre-approved by the Master Commissioner's office no later than 12:00 noon on the Friday immediately preceding a Tuesday sale. The Surety must unconditionally guarantee payment of the surety bond. The only acceptable form for pre-approval is at this link. tmcsales.info/files/Bank_Form.doc There are no exceptions to this. A line of credit, a letter of credit, an assurance of a loan, a loan commitment, or the like are not the equivalent. A Loan Officer from the pre-approved Kentucky Bank must sign the surety bond the day of sale.
ALL SALES ARE SUBJECT TO REAL ESTATE TAXES DUE AND OWING FOR THE YEAR OF SALE AND THEREAFTER.
TERMS AND CONDITIONS OF KENTON
COUNTY MASTER COMMISSIONER SALES
1. Master Commissioner Sales are "Buyer Beware" Sales.
2. The Property is sold "As Is" "Where Is."
3. The high bidder does not receive a Warranty Deed. The high bidder receives a Master Commissioner Deed with no warranties.
4. Title to the property is not warranted by the Court, by the Master Commissioner or by the Plaintiff.
5. The condition of the property is not warranted by the Court, by the Master Commissioner, or by the Plaintiff.
6. If you bid on property, you should have done your due diligence before you bid, not after! This includes both inspections of the title and liens on the property and also the condition of the property.
7. Sales are confirmed by the Circuit Court on Monday thirteen (13) days after the Sale at 9:00 a.m. If that Monday is a holiday, then the Sales are confirmed on the Tuesday fourteen (14) days after the Sale at 9:00 a.m. Deeds cannot be given until Sale is confirmed.
8. Objections to Confirmation must be in writing and filed in the Circuit Clerk's office prior to the Confirmation Motion date for the Report of Sale. Objections must be served on the Attorney for the Plaintiff and on all parties to the action and on the Master Commissioner.
9. If you are the high bidder at the Sale, you must pay in one if two ways:
(A) Cash for the full purchase price immediately following the Sale. Checks on local banks are accepted. Out of the area banks require a Cashier's or Certified check.
or
(B) You must pay the deposit required in the Judgment and Order of Sale (10% of the purchase price) and you must have a Kentucky Bank Surety to act as unconditional surety on the remaining 90% of the purchase price, plus 12% interest, which must be paid within 30 days of the Sale date. This Surety must be pre-approved by the Master Commissioner's office no later than 12:00 noon on the Friday immediately preceding a Tuesday sale. The Surety must unconditionally guarantee payment of the surety bond. The only acceptable form for pre-approval is at this link. tmcsales.info/files/Bank_Form.doc There are no exceptions to this. A line of credit, a letter of credit, an assurance of a loan, a loan commitment, or the like are not the equivalent. A Loan Officer from the pre-approved Kentucky Bank must sign the surety bond the day of sale.
ALL SALES ARE SUBJECT TO REAL ESTATE TAXES DUE AND OWING FOR THE YEAR OF SALE AND THEREAFTER.