*UPDATE TO BUYER RULES EFFIECTIVE 2024. PLEASE READ CAREFULLY. *

Q.  How do I look at the inside of the property?
A.  The Master Commissioner does not have access to the listed properties.  The properties are sold “sight unseen”.   If individuals are residing in the property, you can ask if they will allow you to inspect it.  If the property is empty, you can contact the attorney for the party that obtained the Judgment and Order of Sale (this information is in the Hardin Circuit Clerk’s file)

Q.  How do I get keys to the property?
A.  If the Plaintiff’s attorney does not have keys for the purchaser, the purchaser will have to get a locksmith.  The Master Commissioner does not have keys.

Q.  Who maintains property that is being sold?
A.  The Master Commissioner does not maintain the property.  If the property needs mowing, you can contact the city or county government offices.

Q.  What do I have to have at the sale?
A.  You must have your down payment and your IRREVOCABLE Letter of Credit (MUST HAVE THE ORIGINAL, NO COPIES) or Surety AT YOUR TIME OF BIDDING.  You must have your cash/check, IRREVOCABLE Letter of Credit or Surety (SEE REQUIRMENTS FOR SURETY BELOW) with you at your time of bidding.  This cannot be brought later.  Please be prepared when coming to the sale.

Q.  What is an IRREVOCABLE Letter of Credit?
A.  An IRREVOCABLE letter of Credit is from your bank that states a specific dollar amount that they are guaranteeing you without any stipulations.  (Sample IRREVOCABLE letter of credit available here).

Q.  What is a Surety?
A.  A SURETY IS A PERSON 18 YEARS OR OLDER WHO IS A RESIDENT OF KENTUCKY BUT DOES NOT RESIDE WITH THE PURCHASER, BANK, OR OTHER IDENDITY WHO AGREES UNCONDITIONALLY TO PAY THE BALANCE DUE SHOULD THE PURCHASER, FOR WHATEVER REASON, FAIL TO PAY WITHIN 30 DAYS. THEY MUST PROVIDE ONE OF THE FOLLOWING TO THE MASTER COMMISSIONER BY 2PM THE MONDAY PRIOR TO THE SALE: (If a married individual intends to act as surety, their spouse must also sign.) Despite the net worth shown, the Master Commissioner has the right to reject any proposed surety for any reason.

1. A COPY OF A DEED WHICH IS UNENCUMBERED AND A COPY OF THE STATEMENT OF VALUE FROM THE PROPERTY VALUATION ADMINISTRATOR (PVA OFFICE), TO WHICH THIS BOND WILL ATTACH.
2. A COPY OF CURRENT ACCOUNT STATEMENT. A SWORN FINANCIAL STATEMENT WHICH SHOWS A NET WORTH OF AT LEAST 2 1/2 TIMES THE SALE PRICE.
3. AN IRREVOCABLE LETTER OF CREDIT (MUST HAVE THE ORIGINAL, NO COPIES) FROM LENDING INSTITUTE TO THE SURETY.

Q.  What if there are liens on the property that are not addressed in the Judgment and Order of Sale?
A.  Potential purchasers must obtain their own title search.  If there is a lien on the property that is not addressed in the Judgment and Order of Sale, that lien becomes the responsibility of the purchaser and will not be paid out of the sale proceeds.

Q.  How do I do a title search?
A.  If you do not know how to do your own title search, you should contact a title company or a local attorney to obtain one for you.  Recorded lien information is located at the County Clerk’s office. Our office does not do title searches.

Q.  What do I do if someone is still living in the property, and I buy it?
A.  The Master Commissioner does not evict.  The purchaser must go through the proper eviction process. Contact an attorney for further information regarding this process.

Q.  What if the purchase price is less than 2/3 (two-thirds) of the Master Commissioner’s appraisal?
A.  There is a 6 month right of redemption.

Q. What is a right of redemption?
A.  It is the right held by the property owner giving them 6 months to repay to the purchaser the amount of money paid to the Commissioner plus 10% per annum.  (KRS 426.220) Please contact an attorney for more information regarding this.

Q. Who pays delinquent taxes? 

A. The Plaintiff is responsible for identifying the delinquent tax holder and providing the pay offs to the Master Commissioner. If the Master Commissioner has not been provided with delinquent tax pay offs by the time of the distribution of proceeds purchasers must contact the Plaintiff.  (The purchaser shall be required to assume and pay all taxes or assessments upon the property for the current tax year and thereafter.)

Q.  What happens to money left over after all lien holders are paid?
A.  The Master Commissioner holds the excess funds in escrow until further Order of the Court. The Master Commissioner cannot assist with the process of the court order.

Q.  Can I get the foreclosure lists mailed to me?
A.  No.  The Master Commissioner advertises in The News Enterprise 3 consecutive Wednesdays prior to the sale date, posts notices at the properties, on this website, and posts the list at the Hardin County Justice Center, 120 E. Dixie, Elizabethtown, KY, on the bulletin boards by the elevators on the first floor.

Q. Does the property have to bring the judgement amount or the appraisal amount listed in the advertisement? 

A. No. The property sells to the highest bidder.

The purchase price, plus interest, if the purchase is not paid in full at the sale, is all that is paid to the Master Commissioner. If there are liens on the property that are not addressed in the judgement and order of sale, this is between the purchaser and the lien holder.

If you have any further questions, please feel free to email the office at hardinmc3@comcast.net – Katie or hardinmc2@comcast.net- Alice

DISCLAIMER:  The information listed on the website and the presentation at the sale, may not be current or accurate.  This office shall not be held liable for errors or human mistakes.  We advise individuals not to make financial decisions or any decisions based on the information herein, the website in general, or the presentation at the sale.  For accurate information regarding any of the properties or terms of the sale, refer to the Judgment and Order of Sale that is of record in the Hardin Circuits Clerk’s Office, 120 E. Dixie Ave., Elizabethtown, KY.