ONLINE AUCTION - Acreage
Online Only – July 11 thru July 18
128.8 Acres in Two Tracts
Despain Rd & Jones School Rd, Mt Sherman
From I-65 take exit 76 at Upton and travel east on KY-224 and KY-1079 about 11 ½ miles to Magnolia. Turn left onto US-31E then veer right onto KY-470 for about ¼ mile then turn right on KY-1906. Travel about 4 ½ miles to KY-61 and turn right, then 3.3 miles to Despain Rd on the right. Signs posted. Jones School Rd intersects Despain Rd and KY-61. Google Map Link
128.85 acres of mostly wooded land located 8 miles from Magnolia and 16 miles from I-65 at Upton (exit 76). The property provides an excellent retreat for hunting or other recreational activities and will be offered in two tracts as follows:
TRACT 1 – 26.8 acres of land with approximately 6 acres open and the balance in woods. Fronts Jones School Road and has multiple potential home sites.
TRACT 2 – 102 acres of land with approximately 5 acres of scrub and the balance in woods. Fronts Despain Road and has an additional ingress/egress easement along the northeast boundary. The tract is deeded as 5.1 acres and 99.94 acres but will be offered as one parcel. There is a potential homesite off of Despain Rd and near the stream that runs along the northern property line.
TERMS: A 10% buyer’s premium will be added to the winning bid to determine the final sale price. Bidding will be online only from 8:00 AM EST on July 11th and soft close at 5:00 PM EST on July 18th. The soft close terms are in the event of a bid placed within 2 minutes of the auction close, the close time will be extended 5 minutes. On real estate, $5,000 per tract will be due within 24 hours of auction conclusion with the balance due within 30 days. Property taxes will be prorated to the date of deed. Possession will be given with the deed. Inspection of the property may be performed by prospective bidders prior to the auction. Property sells as is with no guarantees by the seller or Hodges Auction Company.