• 26 Miles South of Lexington - 6 Miles West of I-75 • Pristine Panoramic views • Ideal Horse/Cattle Pasture Land • 8-1/2 Acres of Producing Vineyards including Chardonnay, Vidal Blanc, Vignoles and Chambourcin Vines • State-of-the-Art Winery/Restaurant • Restaurant & Tasting Room Built in 2010 • Large, Furnished Reception Hall • Wine Processing, Restaurant & Farm Equipment • NOTE: MASTER COMMISSIONER'S SALE - SEE TERMS FOR PAYMENT INFORMATION
REAL ESTATE & RESTAURANT/WINE EQUIPMENT
26 MILES SOUTH OF LEXINGTON, KY - 6 MILES WEST OF I-75
Owner: Lowell D. Land, Katherine W. Land, Acres of Land Winery Inc., by the Master Commissioner of Madison County, KY. Tue, Jul 22, 2014 EASTERNAUCTION IS OVER
TOTAL SOLD: $730,000
| Tract(s): 1+2 | @ $730,000 | ($1,825/acre) |
OPEN HOUSE/INSPECTION DATES
INSPECTION DATES:
WEDNESDAY, JULY 9 from 1 - 2:30PM
MONDAY, JULY 21 from 4:30 - 6PM
Meet Schrader Representatives at the Restaurant.
PROPERTY LOCATION
From the intersection of KY-876/Barnes Mill Road and I-75 (Exit 87) on the south side of Richmond, travel west on KY-876/Barnes Mill Road 6 miles to the property.
AUCTION LOCATION
Held On Site
PROPERTY DESCRIPTION
Click Here to View the Personal Property Auction Information.
TRACT DESCRIPTIONS
Tract 1: 144± ac 144± acres with frontage on Barnes Mill Road. Mixture of tillable land, pasture land and wooded acreage. Rural water and natural gas available. Diversified property including vineyard acreage, tillable farm land, pasture and scenic woodland acreage. This tract also features a small pond, several outbuildings plus previous site of restaurant and gift shop (destroyed by fire in 2009) and a single story brick home surrounded by trees nestled at the foot of a large hillside pasture. Another 2 story country home is located at the top of the hill with scenic panoramic views. Investigate the potential this tract offers for a rural country estate.
Tract 2: 256± ac 256± acres with the immaculate restaurant facility (built in 2010), 60’x100’ winery, large reception building and restroom facility, several large barns and vineyards and large 2-story country home. The restaurant facility includes the Arctic walk-in cooler and freezer and oven hoods. The woodland acreage and nice bottom ground are bordered on the north by a small creek and on the south by Barnes Mill Road. This tract includes 3 ponds plus frontage on Silver Creek which is a flowing year-round creek. Potential for livestock/horse enterprise plus excellent recreational/hunting area.
AREA MAP
TRACT MAP(S)
AREA MAP(S)
PROCEDURE: The Property will be offered in 2 individual tracts. There will be open bidding on tracts and the whole property during the auction as determined by the Auctioneers.
PAYMENT (UPDATE): Not less than 10% of the purchase price is due as a cash down payment at the close of auction. Buyer shall be required to execute a bond with sufficient surety thereon, and the bond shall have the full force and effect of a judgment, in order to secure the balance of the purchase price. In accordance with the Order of Sale, interest shall accrue on the unpaid balance of the purchase price at the rate of 12% per annum from July 22, 2014 until paid in full. As an update to the auction brochure, the balance of the purchase price, together with all accrued interest thereon, shall be paid in full to the Master Commissioner on or before Monday, September 22, 2014.
ACCEPTANCE OF BID PRICES: All successful Bidders will be required to enter into a Purchase Agreement at the auction site immediately following the close of the auction. All final bid prices are subject to the Seller's acceptance or rejection.
DEED: Seller shall provide a Master Commissioner's Deed.
EVIDENCE OF TITLE: The Seller agrees to furnish Bidders an attorney's opinion of title to review prior to Auction. Seller agrees to provide merchantable title to the property subject to matters of record, general conditions of title, and similar or related matters. All tracts sold "AS IS".
REAL ESTATE TAXES: The Owner will pay the current year taxes prior to closing or pay taxes in the form of a credit to the Buyer(s) at closing. Owner shall credit Buyer(s) at closing for said taxes based on the most recent ascertainable tax figures.
CLOSING: Closing shall take place within 30 days, or as soon thereafter as applicable closing documents are completed, at a location designated by Seller. With respect to the timing of bidder(s) fulfilling its obligations under a Purchase Agreement, time is of the essence.
POSSESSION: Possession at closing, subject to existing leases, scheduled events and the court approved timeline beginning 60 days after closing. Please contact auction company for details.
ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.
PROPERTY INSPECTION: Each potential Bidder is responsible for conducting at their own risk, their own independent inspections, investigations, inquiries, and due diligence concerning the Property. Inspection dates have been scheduled and will be staffed with auction personnel. Bidder shall be liable for any Property damage caused by Bidder's inspection and investigation, if any.
AGENCY: Schrader Real Estate and Auction Company, Inc. and its representatives are the Auctioneers and exclusive agents of the Seller regarding the sale of the Property.
DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. ANNOUNCEMENTS MADE BY THE AUCTIONEER AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. The property is sold "AS IS, WHERE IS". No warranty or representation, either express or implied, or arising by operation of law concerning the Property is made by the Seller or Auctioneers, and are hereby expressly disclaimed. In no event shall Seller or the Auctioneers be liable for any consequential damages. The information contained in this brochure is believed to be accurate but subject to verification by all parties relying on it. Seller and the Auctioneers assume no liability for its accuracy, errors or omissions. All sketches and dimensions in this brochure are approximate. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneers. Seller and the Auctioneers reserve the right to preclude any person from bidding if there is any question, in the sole judgment of Seller or the Auctioneers, as to such person's creditworthiness, ability or willingness to close on the purchase of the Property, credentials, fitness, etc. All decisions of the Auctioneers are final.
NEW DATA, CORRECTIONS AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes, corrections, or additions to the Property information.
PHOTOGRAPHY: Vineyard photography used for illustrative purposes. Some photos from 2013.
SELLER: Lowell D. Land, Katherine W. Land, Acres of Land Winery Inc., by the Master Commissioner of Madison County, KY.
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