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| ABSOLUTE AUCTION! LORENZ & DORIS DRESSEL LIVING ESTATE | |||
| Price: Unspecified, check ad | Ad # 1273203 | ||
| Posted By: | Chris Colson Auction & Realty Co., LLC of Paducah, KY | ||
| Item Location: | Gilbertsville, KY | ||
| Date Posted: | August 14 | ||
| Expiration: | September 13 | ||
| Category: | Real Estate/Residential | ||
| Phone: | Please login | ||
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| Account Type: | Pro | ||
| Web Site: | http://www.colsonsells.com | ||
| Other ads by this Pro user | |||
ABSOLUTE AUCTION HELD LIVE & ONLINE LORENZ & DORIS DRESSEL LIVING ESTATE ONLINE & LIVE IN-PERSON BIDDING! KENTUCKY LAKES AREA HOME WITH 2 ADJACENT LOTS! HOME & ADJOINING LOTS SOLD TOGETHER * PACKAGE DEAL!
ATTENTION HOMEBUYERS! CONTRACTORS! INVESTORS! DON'T MISS THIS EXCITING OPPORTUNITY! How to Bid:
ONLINE BIDDING OPENS Saturday, August 22nd AT 10 AM! PREVIEWS: Saturday, August 22nd 8:30 AM–10:00 AM & day of sale starting at 8:30am, or by appointment. When: Saturday, September 5th, 2026 Where: 197 Delaware Road. Gilbertsville, Ky. 42044 Directions: From I-24, Exit 27, head south on US Highway 62 approximately 1.5 miles. Take first offramp for Highway 641, go west approximately 1.5 miles to Red River Road, turn right, go approximately 1/3 mile to Delaware Road, turn right. Home will be over top of the hill on left. Signs posted. AUCTION HELD ONSITE & ONLINE - RAIN OR SHINE Home & Adjacent Lots Overview: A lovely 3-bedroom, 3-bath brick home, truly a diamond in the rough, just minutes from Kentucky Lake Recreational Area in Gilbertsville, Kentucky. The homeowner began construction several years ago, mostly finishing the exterior, but leaving the interior incomplete. This beauty is waiting on your personal touch! Walls and ceiling on main level are finished drywall but have yet to be painted. Interior doors, baseboard, molding, bath and kitchen cabinets have been delivered to the home but are not installed. No flooring other than subfloor on main level (sheet laminate already in kitchen). Most of the electrical rough-in has been completed on the main level. Downstairs features a full basement, concrete flooring, brick fireplace, and plenty of room for entertaining or relaxing! Poured concrete basement walls are roughed in with stud framework. Basement walls are approximately 10’ in height. Property has 2 additional building lots, deeded separately but both selling with home. Don’t miss this lakes area buying opportunity!
Home & Adjacent Lots Description: Selling a true diamond in the rough just minutes from the water’s edge of Kentucky Lake. Home offers solid craftsmanship, with brick veneer (coined corners) and a poured-wall basement foundation and features +/- 2,360 total square feet of living space including garage on the main level, with another +/- 1,650 square feet of space on the lower level. Construction features 2 x 12 floor joists and solid steel 12-inch load bearing I-beam. While exterior is mostly finished, the interior is unfinished. Drywall has been mudded and sanded, but walls and ceilings will need painting. You choose the colors! Interior doors, baseboards, molding, bath and kitchen cabinets are inside home but have not been installed. Kitchen flooring is currently sheet laminate. Additional flooring on main level currently is subfloor but offers some of the best available with Advantech subflooring, connected with premium Max Bond. Choice of final floor covering will need to be purchased by new owner. Main level is highlighted by a 29’7” x 17’ great room, 21’ wide when joined by open dining room next to bay-style front window. Great room also features 12’ vaulted ceiling and 1 of the home’s 2 brick fireplaces. Kitchen is 11’ x 20’6” with breakfast nook next to patio-style walkout to backyard deck or stairway (yet to be constructed). Private main bedroom is 12’7” by 15’ and features dual walk- in closets, each measuring 5’ x 6’. Primary bathroom is 12’7” x 9’ and features a garden tub and separate shower unit. 2 guest bedrooms are opposite the great room, both approximately 12’ x 14’ with walk-in closets. Hallway access to full guest bathroom, measuring +/- 6’ x 12’. Lower level is a full basement and walks out to spacious backyard, has plenty of room for entertaining or relaxing, and is plumbed for an additional full bath. It also has the home’s 2nd brick fireplace as the focal point of the gathering room. Lower-level walls are roughed in with studs only and would need wall covering. Plenty of room in the backyard for adding a pool and pool house if desired. Home has a courtyard-feel entry, with 21’6” x 5’ porch, 2-car attached garage (21’ x 22’) with automatic 16’ x 7’ door. 2 Goodman HVAC units with gas water heater. There are 2 additional +/- 2/3 acre lots, one on each side, both deeded separately but will sell together with home, all for one money. Nearby Amenities: Conveniently located in a quiet subdivision, just a few minutes’ drive to Kentucky Lake and the lake beach, marina, plus fishing, boating, tennis, and Kentucky Dam Golf Course. 10 minutes or so drive to Grand Rivers or Draffenville, 15 minutes to Benton. Not far from Marshall County schools. Central Elementary 3.8 miles away, North Marshall Middle, 2.7 miles and Marshall County High School, 7.1 miles away. Christian Fellowship school 7.8 miles away in Draffenville. Property Condition: Home appears to be solid, never lived in, never finished. Brick veneer has coined corners, very little finish work needed on the outside, however it could use some landscaping, and a backyard deck or stairway would be needed to exit the kitchen/breakfast nook area safely. Interior is mostly subfloor on main level, concrete on lower level (walkout basement). Nice brick walls are the focal points on each side of driveway entrance. Driveway is currently gray crushed stone. Concrete sidewalk from driveway to front entry. Property Grounds: All 3 tracts are gently sloping, few or no trees on first lot, several trees on home lot, while lot 3 is more wooded, but still somewhat navigable. Driveway is gravel. All 3 tracts sell together for one price. Utilities: municipal water, natural gas, septic, WKRECC power, 2–200-amp electrical service panels (breakers), both panels have power and are hot. TERMS OF AUCTION - Real Estate – Terms & Conditions: This is an online & live onsite absolute auction. Live bidding opens on day of sale at 10:00 AM. Saturday, September 5th. A 10% buyer’s premium will be added to the winning bid to determine the contract price. Example: $150,000.00 bid + 10% premium (15,000.00) = $165,000.00 total contract price. Registration & Bidding: All bidders must register either online with valid identification & credit card or in person on day of sale and agree to these terms & conditions. Auctioneer reserves the right to verify bidder identity and proof of funds for preapproval. Bidding Online: If a bid is placed online and the signal is lost or dropped neither the Auction Company nor the seller will be held liable, and the bidding will continue with in-person bidding until the Auctioneer sells the property to the highest and best bid. Note: If signal is lost in mid-auction every attempt to retrieve the connection will be made but not guaranteed. To ensure no interruptions, it is recommended to attend the auction in person. Purchase Agreement & Earnest Money Deposit: The successful bidder must sign a Purchase Agreement upon the closing of the auction either in person or by email, time is of the essence. A non-refundable 15% Earnest Money Deposit, EMD is due upon signing of the purchase contract if in-person or before noon on the following business day if purchaser is an out-of-town online bidder. Valid credit card is required to register to bid. If the successful high bidder is online, their credit card will be charged a non-refundable flat fee of $1,000 to be applied towards their good faith deposit immediately upon the closing of the auction. Buyers will prearrange financing necessary to make desired purchase(s) prior to registration. GFD Real Estate Wiring Instructions
Real estate closing with winning purchaser will take place on or before Tuesday, October 20th, 2026 (45 days). Buyer is responsible for all closing costs, attorney fees, lending fees, unless otherwise stated. Seller will convey a clear title and a warranty deed. Seller will pay for deed prep, transfer tax, their portion of property taxes prorated at closing. Seller will transfer property free of mortgages, liens, or encumbrances except that of record such as but not limited to the power company, cable company, water company, gas company, etc. Possession is granted at closing. Absence of Warranties & Disclaimers: All information contained herein, and all related materials, is subject to the Terms and Conditions outlined in the Purchase Agreement. The property is being sold on AS IS, WHERE IS basis, no warranty or representation either expressed or implied concerning the property is made by the seller or the auction company. Each potential bidder is responsible for conducting his or her own inspections, verifications, investigations, inquiries, and due diligence concerning the property. The information contained herein is subject to verification by all parties relying on it. There is no liability for its accuracy. Conduct of the auction and increments of bidding are at the discretion of the auctioneer. The sellers and selling agents reserve the right to preclude any person from bidding if there is any question regarding the person’s credentials, fitness, etc. All decisions of the auctioneer are final. Auction Terms: This auction is being performed online and controlled by an independent 3rd party, and as such the functionality of the third party’s site is in no way the responsibility of Chris Colson Auction & Realty Co. LLC, thus no bidder may hold Chris Colson Auction & Realty Co. LLC responsible for missed bids, electronic transmissions sent from the 3rd party, nor technology challenges experienced prior to, on the day of auction, nor after the auction. Electronic communications between you, the bidder and the bidding platform are just that-communications between you and the bidding platform. Chris Colson Auction & Realty Co. LLC is in no way liable nor expected to honor the automatically generated communications from 3rd party entities. To guarantee your bid is received, it is encouraged that you attend the auction in-person. This is an absolute auction - ALL SALES ARE FINAL! By registering for this auction, you are authorizing Chris Colson Auction & Realty Co. LLC to use for their sole discretion your contact information, if needed. All disputes or legal matters, if any should arise, will be addressed in mediation prior to other proceedings and will be conducted in KY. Chris Colson Auction & Realty Co LLC is licensed and regulated by the KY Board of Auctioneers. Chris Colson Auction & Realty Co. LLC 3250 Key Drive Paducah, KY 42003 (270) 444-0031 Chris Colson, Principal Auctioneer KY Lic# 258785 www.colsonsells.com New Information, Corrections & Changes: Please check for updated information prior to scheduled auction time for changes, corrections, or additions to the herein described property information. |
