BluegrassForeclosure.com

One of the few things the legislature did pass was to allow auctioneers to conduct the master commissioner sales.  Some counties already use these services.  But this should make it easier.

Here’s the language of the new law:

AN ACT relating to auctioneer services.
Create a new section of KRS Chapter 426 to permit a court upon the request of a creditor or mortgage holder to secure the services of an auctioneer licensed in this state to conduct the public sale, fix the auctioneer’s fee, and order the fee to be paid out of the proceeds of the sale; include caps for the licensed auctioneer’s fee that do not include expenses and fees incurred by the master commissioner for the sale under KRS 31A.010(4); require the master commissioner to employ a licensed auctioneer to handle the sale upon terms and conditions acceptable to the creditor or mortgage holder; require the sale to be conducted on the site of real property to be sold if the public sale is conducted by a licensed auctioneer; permit a master commissioner who is also a licensed auctioneer to recover fees for acting in his or her capacity as master or special commissioner under KRS 31A.010(4), but prohibit the master commissioner from collecting any extra fee for acting as an auctioneer; clarify that nothing contained in this section waives any provision of KRS 426.160, 426.200, or 426.560.