Auctioneer/Firm: Mallory Auction Company, LLC (License #262552/ RE: 295587) in cooperation with Thwaites Realtors, LLC, licensed real estate broker.

Terms of Sale: This is a RESERVE AUCTION. The property is offered subject to a reserve, and the Seller retains the right to accept or reject the final high bid. THE SELLER RESERVES THE RIGHT TO BID on this property, either personally or through a representative, as permitted under KRS 330.220. This right to bid has been fully disclosed here in accordance with Kentucky law; bidders acknowledge and accept this condition by participating in the auction.

Down Payment: A 10% down payment of the final sales price is due at the conclusion of the auction. The balance of the sales price is due on or before 45 days from auction close, at closing, with transfer of deed.

Open House

Open House: October 11th 2-4PM 

Auction Schedule

Live Auction Start Time: October 17, 2026 @ 10:00 AM (simulcast — online and live onsite bidding)

Terms on Real Estate

A 10% down payment in US Dollars by Certified or Cashier's Check, or other verifiable funds with proper identification acceptable to the Seller and Auctioneer, is due at the conclusion of the property sale and upon signing of the Auction Purchase Contract. The down payment, payable to Thwaites Realtors, LLC or in cash, will be deposited into Thwaites Realtors, LLC's Escrow Account.

The balance is due in US Dollars (by cashier's check or certified funds) on or before December 1st, 2026, upon delivery of the deed. Failure to pay the balance due shall require the Purchaser to forfeit his or her down payment, execute a release in favor of the Auctioneer, and be subject to all other remedies available to the Seller under the law.

No one should make a bid they do not want to honor or are unable to honor. There are no contingencies in the Auction Purchase Contract on obtaining financing. You must register to bid. All willing and able parties have the right to bid and purchase this property being sold at auction. Time shall be of the essence in closing this sale. There will be minimum bid increments of $1,000.00. A 10% Buyer's Premium will be added to the winning bid to determine the final contract purchase price.

Deed

Title will be transferred by a recordable General Warranty Deed, executed by the Seller and conveyed in fee simple on or before December 1st, 2026. Time shall be of the essence in closing this sale.

Possession

Full possession with deed. Purchaser acknowledges and understands that any items left on the premises at time of closing will then go with the property, as the Executor and/or Auction Agents shall NOT be required to clean anything up or remove any items left on the premises.

Insurance

The Seller shall bear the cost of and maintain hazard insurance on the property until the date of closing. If the property is substantially damaged or destroyed by fire or other casualty prior to closing, Purchaser shall proceed with the transaction, in which event Purchaser shall be entitled to all insurance money payable to Seller under any policies of insurance covering the property so damaged, up to the amount of the sales price. After the closing date, insurance coverage is no longer the responsibility of the Seller. Purchaser may obtain increased or additional insurance coverage at Purchaser's own expense.

Real Estate Taxes

Real estate taxes on the property shall be adjusted as follows: all real estate taxes prior to 2026 are to be paid by the Seller; 2026 real estate taxes will be prorated to the date of the deed. All subsequent years' real estate taxes are to be paid by the Purchaser. Purchaser acknowledges the property is being sold subject to all existing easements, including utility easements, and planning and zoning regulations of record. All announcements made from the auction stand take precedence over any prior information or printed matter. In the event of any dispute, the Auctioneer's decision is final. Thwaites Realtors, LLC agents and representatives are agents of the Seller/Executor. Purchaser agrees to hold harmless the Executor and Auction Agents for any damage to the property while being marketed and before the closing date, and while people are inspecting the property or during the auction. The property and improvements are being sold "AS IS," with no warranties expressed or implied other than title. Regardless of any information given by the Auction Agents, Purchaser has examined the property and improvements and is relying solely upon that examination, including as to easements, condition, character, and size of the land and all improvements.

General Auction Terms — Inspection and Guarantee

Property is available for inspection during the open house dates above ([October 11th 2-4PM]), or by appointment. All property is sold in "AS IS" and "WHERE IS" condition. All description information has been gathered from sources believed to be reliable but is not guaranteed. Auctioneer makes no warranty or guarantee of any kind with respect to condition, suitability for a particular purpose, or otherwise. Bidder's failure to inspect will not constitute grounds for any claim, refund, or adjustment. Auctioneer reserves the right to change, modify, or delete any item, lot, or description in the auction as may be necessary until the close of the auction.

Minimum Bid Increments

Minimum Bid Increments are the minimum amount by which anyone can increase the current winning bid; these amounts may change based on the dollar amount bid. The minimum bid increment for this property is $1,000.

Bidding

The auction will use a maximum bidding system during the online pre-bidding period. Your account will bid on your behalf using the minimum bid increment until it reaches your maximum bid. Your account will continue to bid for you until your Max Bid is reached; once the current winning bid exceeds your Max Bid, your account will not bid further. You may change your Max Bid at any time until the auction closes. The Seller and other bidders cannot see your Max Bid.

Payment

Cash, Cashier's Check, Personal/Business Check, or wire transfer. All fees incurred by wire transfer will be paid by the Purchaser. All winning bids must be paid in US Dollars. All sales are final; Bidder agrees there will be no refunds or adjustments for any reason.

Closing

The successful Purchaser must hire an attorney to check title and coordinate closing with Thwaites Realtors, LLC. Buyer is responsible for their own closing costs. Seller will pay for deed preparation and property transfer tax.

Buyer's Premium

A 10% buyer's premium will be added to the high bid and included in the total contract purchase price. Example: high bid of $100,000 plus 10% buyer's premium = $110,000 contract purchase price.

Bidder's Acknowledgement

By bidding, you as a prospective bidder acknowledge that this is a RESERVE AUCTION and that the Seller reserves the right to bid, as disclosed above. As a successful bidder, you agree to the terms and conditions stated herein. This document is part of the non-contingent contract of sale to purchase the property. This is a public offering open to all.

Technical Issues

Bidder agrees that neither the Auctioneer nor the Seller is liable for any technical issues that may occur. In the event of technical difficulties related to the server, software, or any other online-auction-related technology, Mallory Auction Company, LLC reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the servers or software, the internet connections, nor the Auctioneer shall be held responsible for a missed bid or the failure of the software to function properly for any reason.

Governing Terms and Disputes

By bidding on the property, Buyer agrees to all terms and conditions stated herein. Mallory Auction Company, LLC reserves the right to alter this agreement at any time by updating this document; please review these terms each time you use this site, as continued use constitutes agreement to the terms as then written. In the event of any dispute, the Auctioneer's decision is final. Any dispute between Mallory Auction Company, LLC or Thwaites Realtors, LLC, their agents or representatives, and the Buyer(s) will be tried in a court of competent jurisdiction in Bourbon County, Kentucky. Auction company employees and/or the auction company may bid on and purchase auction items, subject to applicable disclosure requirements.

Bidder Default

Failure to complete a purchase is illegal and will result in one or more of the following: (1) prosecution; (2) loss of bidding privileges with Mallory Auction Company, LLC and all other affiliated auctions. If a bidder at any time believes his/her username, password, or bidder number has been compromised, notify the Auctioneer immediately.

For additional information, contact Mallory Auction Company, LLC at 859-983-1128. TIME IS OF THE ESSENCE in regards to all auction terms.