TERMS & CONDITIONS
377 FOSTER LANE – SHEPHERDSVILLE, KY 40165
ONLINE-ONLY REAL ESTATE AUCTION
AUCTION ENDS: THURSDAY, NOVEMBER 12, 2026 – 6:00 PM EST
PROPERTY PREVIEW: SUNDAY, NOVEMBER 8, 2026 – 2:00 PM TO 6:00 PM EST
PLEASE READ AND REVIEW ALL TERMS AND CONDITIONS THOROUGHLY BEFORE BIDDING.
If you have not read, understood, and agreed to these terms, please do not bid. By registering and placing a bid, each bidder acknowledges and agrees to be bound by these Terms and Conditions and, if declared the successful purchaser, to execute the Agreement to Purchase Real Estate.
PROPERTY: 377 Foster Lane, Shepherdsville, KY 40165
PROPERTY DESCRIPTION: Residential real estate consisting of approximately 3.11 acres, a residence, and a barn/shop, subject to the legal description and survey, if applicable.
AUCTION END DATE: Thursday, November 12, 2026
AUCTION CLOSING TIME: 6:00 PM Eastern Time, subject to extended bidding.
BUYER'S PREMIUM: 10%
EARNEST MONEY DEPOSIT: $7,500
CLOSING DEADLINE: On or before 45 days following the auction.
EXTENDED BIDDING – SOFT CLOSE
This auction utilizes an Extended Bidding ("Soft Close") format. The auction will not automatically close at the scheduled closing time if active bidding continues.
Any bid placed during the applicable extension period will automatically extend the bidding time. Each additional bid placed during an extension period will continue to extend the auction until no further bids are received during the applicable extension period.
The advertised closing time is the earliest possible closing time and is not a guaranteed ending time.
Extended Bidding Schedule:
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6:00 PM – 6:30 PM: 5-minute extensions
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6:30 PM – 7:00 PM: 3-minute extensions
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7:00 PM – 7:30 PM: 2-minute extensions
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7:30 PM – Auction End: 1-minute extensions
The applicable extension is determined by the time the bid is placed. The auction will close when the active bidding period expires without another qualifying bid.
Example: If a bid is placed at 5:59 PM, the auction closing time will extend to 6:04 PM. If another bid is placed at 6:03 PM, the closing time will extend to 6:08 PM. This process continues until bidding ends.
This extended bidding format is intended to provide all bidders a fair opportunity to participate and prevent last-second bidding practices commonly referred to as "sniping."
PUBLIC VIEWING / PROPERTY PREVIEW
Sunday, November 8, 2026 | 2:00 PM – 6:00 PM EST
Property Address: 377 Foster Lane, Shepherdsville, KY 40165
Prospective bidders are invited and strongly encouraged to attend the scheduled property preview to personally inspect the residence, barn/shop, and 3.11 acres before bidding.
All inspections and due diligence must be completed prior to the conclusion of the auction.
The property is being sold AS-IS, WHERE-IS, without financing, appraisal, or inspection contingencies.
1. CONDITIONS OF SALE
This is an online-only real estate auction.
The property is being offered and sold AS-IS, WHERE-IS, WITH ALL FAULTS, without warranties or guarantees, expressed or implied, except as expressly provided in the Agreement to Purchase Real Estate.
The sale is not contingent upon financing, appraisal, inspections, repairs, or any other conditions.
Each bidder is responsible for conducting all necessary due diligence before bidding, including but not limited to:
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Physical condition of the residence, barn/shop, and other improvements
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Property boundaries, acreage, and survey information
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Zoning, land use, and permitted uses
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Easements, restrictions, and rights-of-way
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Utilities, septic systems, and other property systems
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Floodplain or flood zone information
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Title matters and public records
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Any other information relevant to the purchase
All bidders are purchasing the property based upon their own inspections, investigations, and judgment.
Failure to inspect the property shall not relieve the successful bidder of the obligation to complete the purchase.
2. BUYER'S PREMIUM
A 10% Buyer's Premium will be added to the final high bid to determine the total purchase price.
Example:
High Bid: $300,000
10% Buyer's Premium: $30,000
Total Purchase Price: $330,000
The total purchase price, including the Buyer's Premium, will be reflected in the Agreement to Purchase Real Estate.
Bidders should take the Buyer's Premium into consideration when determining their maximum bid.
3. PURCHASE CONTRACT AND EARNEST MONEY DEPOSIT
At the conclusion of the auction, the successful bidder will be emailed an Agreement to Purchase Real Estate.
The successful bidder must execute and return the purchase agreement to Lawson Co. Auctioneers, LLC within twenty-four (24) hours following the conclusion of the auction.
A $7,500 earnest money deposit is also required within twenty-four (24) hours following the conclusion of the auction.
The deposit will be credited toward the purchase price at closing.
The deposit must be paid in accordance with the instructions provided by Lawson Co. Auctioneers, LLC.
Failure to execute the purchase agreement or deliver the required deposit within the specified time may constitute default.
If the successful bidder fails to provide the required deposit, Lawson Co. Auctioneers, LLC reserves the right, to the extent authorized by the bidder and permitted by applicable law, to charge the required deposit to the credit card maintained on the bidder's account.
The successful bidder is responsible for all applicable wire transfer fees.
4. CLOSING AND POSSESSION
The successful purchaser shall pay the remaining balance of the purchase price in full at closing.
Closing shall occur on or before forty-five (45) days following the auction date, unless otherwise agreed to in writing by the seller and purchaser.
Time is of the essence.
The purchaser is responsible for arranging any financing necessary to complete the purchase within the required closing period.
The sale is not contingent upon the purchaser obtaining financing.
Buyer and seller shall pay their respective closing costs as is customary in Kentucky, unless otherwise specified in the Agreement to Purchase Real Estate.
Real estate taxes and assessments shall be prorated as of the closing date, unless otherwise provided in the purchase agreement.
Possession shall be delivered to the successful purchaser at closing, subject to the terms of the purchase agreement.
5. DEFAULT AND LIQUIDATED DAMAGES
If the successful bidder fails to execute the purchase agreement, deliver the required earnest money deposit, or complete the purchase in accordance with the auction terms and purchase agreement, the purchaser may be declared in default.
In the event of purchaser default, the earnest money deposit may be forfeited and disbursed in accordance with the Agreement to Purchase Real Estate and applicable law.
The defaulting purchaser may also be responsible for additional damages, costs, and expenses incurred by the seller and Lawson Co. Auctioneers, LLC, including costs associated with a subsequent resale of the property, to the extent permitted by the purchase agreement and applicable law.
The seller reserves all remedies available under the Agreement to Purchase Real Estate and applicable law, including specific performance where legally available.
Any recovery of damages shall be subject to applicable law and shall not permit duplicative recovery for the same loss.
6. FINANCING AND CONTINGENCIES
All bidders must be prepared to complete the purchase without contingencies.
There are no financing, appraisal, inspection, or repair contingencies.
Bidders who intend to obtain financing should secure financing approval and make all necessary arrangements before bidding.
The inability to obtain financing will not release the successful purchaser from the obligations of the purchase agreement.
The property is being sold for cash at closing, regardless of the purchaser's source of funds.
7. RESERVE AND SELLER CONFIRMATION
The property is offered subject to an unpublished minimum reserve.
The seller is not obligated to accept a bid below the reserve.
If the reserve is reached, Lawson Co. Auctioneers, LLC may announce that the reserve has been met and that the property is selling absolute to the highest bidder, subject to the published auction terms.
Once an authorized announcement is made that the property is selling absolute, the auction will proceed without further reserve or seller confirmation, subject to applicable law and the published terms.
If the reserve is not met, the property will remain subject to seller confirmation.
8. REAL ESTATE BROKERAGE SERVICES DISCLOSURE
Lawson Co. Auctioneers, LLC and its representatives are acting as exclusive agents of the seller.
Lawson Co. Auctioneers, LLC does not represent the purchaser in this transaction unless otherwise expressly agreed in writing.
All negotiations and communications concerning the purchase of the property shall be conducted through Lawson Co. Auctioneers, LLC.
9. LAWSON CO. AUCTIONEERS, LLC INVOLVEMENT
The seller and purchaser acknowledge that Lawson Co. Auctioneers, LLC is the auction company conducting this transaction and is entitled to compensation as provided in the applicable auction, listing, and purchase agreements.
10. PROPERTY RESTRICTIONS AND MATTERS OF RECORD
The property is sold subject to all applicable easements, restrictions, rights-of-way, zoning regulations, building codes, governmental regulations, and other matters of public record.
The purchaser is responsible for investigating all such matters before bidding.
The property is offered according to the applicable legal description and survey, if available.
Any stated acreage, dimensions, or other measurements are approximate unless otherwise expressly guaranteed in writing.
11. PROPERTY INFORMATION AND INSPECTIONS
All information published, announced, or provided by Lawson Co. Auctioneers, LLC concerning the property has been obtained from sources believed to be reliable.
However, neither the seller nor Lawson Co. Auctioneers, LLC guarantees the accuracy or completeness of such information.
This includes, but is not limited to, acreage, square footage, building dimensions, property condition, utilities, zoning, and permitted uses.
Prospective purchasers are encouraged to personally inspect the property and verify all information independently before bidding.
Failure to inspect or investigate shall not constitute grounds for cancellation of a bid, withdrawal from the purchase agreement, or return of the earnest money deposit.
12. BIDDER REGISTRATION AND VERIFICATION
All bidders must register and be approved before participating in the auction.
Bidding privileges are provisional and subject to verification.
Lawson Co. Auctioneers, LLC reserves the right to reject registrations, suspend bidding privileges, or remove bids when necessary to protect the integrity of the auction, subject to applicable law.
Bidders are responsible for all bidding activity conducted through their registered accounts.
Each bidder is responsible for maintaining the confidentiality and security of their login information.
Bidders must comply with all applicable local, state, and federal laws.
13. AUCTIONEER, AGENT, BROKER, AND STAFF PARTICIPATION
The auctioneer, agents, brokers, and auction staff may participate as bidders and purchasers at this auction, provided such participation complies with applicable law and all required disclosures.
Any bids made on behalf of the seller shall be permitted only to the extent authorized by applicable law and properly disclosed.
14. CHANGES TO TERMS AND CONDITIONS
Lawson Co. Auctioneers, LLC reserves the right to make corrections, clarifications, or amendments to the published auction information and terms prior to the conclusion of the auction, subject to applicable law.
Any material changes will be communicated through the auction website or other appropriate notice.
Bidders are responsible for reviewing the current published terms before placing bids.
15. TECHNICAL ISSUES
In the event of technical difficulties involving the auction platform, servers, internet connections, software, or other auction-related technology, Lawson Co. Auctioneers, LLC reserves the right to pause, extend, reopen, or reschedule bidding as reasonably necessary to maintain the integrity of the auction and subject to applicable law.
Neither Lawson Co. Auctioneers, LLC nor the auction platform provider shall be responsible for interruptions or technical failures beyond their reasonable control, to the extent permitted by law.
Bidders are encouraged to place bids early and not wait until the final moments of the auction.
16. BIDDER ACKNOWLEDGMENT AND ACCEPTANCE
By registering and placing a bid in this auction, the bidder acknowledges and agrees that:
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The bidder has read and understands these Terms and Conditions.
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The bidder has had the opportunity to inspect the property and conduct all necessary due diligence.
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The property is being sold as-is, where-is, without contingencies.
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A 10% Buyer's Premium will be added to the final high bid.
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The successful bidder must execute the purchase agreement and deliver the required $7,500 earnest money deposit within 24 hours.
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The successful purchaser must close within 45 days following the auction, unless otherwise agreed in writing.
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All bids are binding, subject to the published auction terms and applicable law.
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The successful purchaser is financially prepared to complete the transaction.
YOUR BID ON THIS AUCTION INDICATES YOUR UNDERSTANDING AND ACCEPTANCE OF THESE TERMS AND CONDITIONS AND YOUR AGREEMENT TO PURCHASE THE PROPERTY IN ACCORDANCE WITH THE PUBLISHED AUCTION TERMS AND AGREEMENT TO PURCHASE REAL ESTATE.
LAWSON CO. AUCTIONEERS, LLC
377 Foster Lane Real Estate Auction
Shepherdsville, Kentucky 40165
Troy Lawson – Principal Auctioneer / Real Estate Broker
502-718-0990
www.LawsonAuctioneers.com
Your Local Auctioneer With a National Reach.
