Ayres Realty will auction off Garrard County's farm May 8

March 31, 2004|JIM LOGAN

LANCASTER - Garrard County Fiscal Court on Tuesday selected Danny Ayres Realty & Auction Co. of Lancaster to handle the sale of the county farm on Poorhouse Road.

Ayres beat out two other firms - The Danny Irvin Group of Lancaster and ERA Team Realtors and Auction Co. of Danville - in sealed bids, said Judge-Executive E.J. Hasty.

The auction will be at 10 a.m. May 8 at the farm. On the block will be 28 tracts.

The bids laid out the auctioneers' terms for handling the sale. In Ayres' winning bid, the company said it would pay for all advertising, survey costs, provide "individual tract signs with acreage" and assist buyers with financing if needed.

It will also impose a 7 percent buyer's premium on all winning bids. The premium is a fee added to the winning bid that the buyer pays to the auctioneer as part of the total purchase price.


The court hopes to raise $350,000 to $400,000 with the sale of the farm. All proceeds will go toward the county's $4.5 million debt to the Kentucky Associated of Counties. The county took the loan in 2001 an effort to save Garrard County Memorial Hospital, which ultimately closed in 2003.

"I think it's gonna depend on who's there and who wants it," said Danny Ayres of the money raised on the sale.

The court opened the bids March 23, but didn't make a decision because Magistrate Larry Teater was absent.

"Larry was out of town and they didn't know how he would feel," Hasty said.

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