KY HB566

Increases the maximum auctioneer fee for foreclosure sales of real property from 6% to 10% of the sale price, which may be charged as an auction premium or commission

Raises the maximum auctioneer fee for foreclosure sales of personal property from 20% to 25%, with an allowance for an additional 10% auction premium

Requires advertising costs for sales under a master commissioner's direction to be paid from sale proceeds, with advertising decisions made jointly by the master commissioner and auctioneer

Mandates that master commissioners employ a licensed auctioneer upon request of the creditor or mortgage holder, with terms acceptable to the requesting party

Allows real property auction sales to be held at an alternate location within the county if the licensed auctioneer determines it is the best site, rather than requiring on-site sales