STRATEGIC MULTI-PARCEL LAND AUCTION
SELLING ONLY WHAT IS NECESSARY
The Property will be offered in multiple tracts and combinations utilizing a flexible multi-parcel auction format designed to maximize value while preserving remaining family acreage and productive agricultural land where possible. Seller reserves the right, in Seller’s sole discretion, to discontinue offering additional tracts or combinations once sufficient proceeds have been achieved. All bids remain subject to Seller confirmation.
BIDDING PROCEDURE: Tracts 1 through 12 may be offered individually, in any combination, or as an entirety in such order and manner as determined by the Auctioneer. Bidding may be opened, closed, reopened, and advanced among individual tracts, combinations of tracts, or the property in its entirety at the discretion of the Auctioneer. The Auctioneer, acting on behalf of the Seller, reserves the right to determine the manner, order, timing, and method of sale that produces the highest total acceptable sale price. Seller reserves the right to withdraw any tract, combination, or offering from the auction at any time prior to execution of purchase agreements.
BUYER’S PREMIUM: A 5% Buyer’s Premium will be added to the final bid price to determine the total contract purchase price.
DOWN PAYMENT: Ten percent (10%) of the total contract purchase price shall be due on the day of the auction with the balance due in cash at closing. The down payment may be made in the form of cashier’s check, personal check, or corporate check. Bidding is not contingent upon financing. Prospective bidders are advised to arrange financing, if needed, prior to the auction and be prepared to close in cash.
APPROVAL OF BIDS: Successful bidders shall execute purchase agreements immediately following the auction. All bids are subject to Seller confirmation and approval.
DEED: Seller shall convey merchantable title by General Warranty Deed or other deed acceptable to Seller.
EVIDENCE OF TITLE: Seller agrees to make available a preliminary title commitment for review prior to auction. Seller shall pay the premium for a standard owner’s title insurance policy consistent with the final title commitment. Buyer shall be responsible for the cost of any lender’s title policy, endorsements, extended coverage, or special title insurance coverage requested by Buyer or Buyer’s lender. Property is sold subject to easements, restrictions, rights-of-way, leases, and matters of record.
CLOSING: Closing shall occur within thirty (30) days following execution of the purchase agreement or as soon thereafter as closing documents are completed.
POSSESSION: Possession shall be granted at closing, subject to any existing tenant rights and the right to harvest growing crops, if applicable.
SURVEY: Seller may obtain a survey if required for conveyance or deemed necessary by Seller. If a survey is obtained, survey costs shall be shared equally between Seller and Buyer unless otherwise agreed in writing.
TRACT MAPS; ACRES: All tract boundaries, dimensions, and advertised acreages are approximate and are provided for marketing purposes only based upon available tax parcel data, legal descriptions, aerial mapping, and/or preliminary survey information. Final acreage, if applicable, shall be determined by survey.
REAL ESTATE TAXES: Real estate taxes shall be prorated to the date of closing.
MINERALS: Seller reserves all oil, gas, and other mineral rights associated with the property, if any, together with all rights appurtenant thereto.
CONDUCT OF AUCTION: The Auctioneer shall control the conduct of the auction and bidding increments. Seller and Auction Company reserve the right to deny bidding privileges to any person not registering properly, not meeting announced terms, or whose identity or financial ability cannot be verified.
AGENCY: Kaddatz Real Estate LLC and its representatives are acting exclusively as agents of the Seller.
DISCLAIMER AND ABSENCE OF WARRANTIES: ALL PROPERTY IS OFFERED “AS IS, WHERE IS,” WITH ALL FAULTS. No warranties or representations, expressed or implied, are made by Seller or Auction Company regarding the Property. Prospective bidders are solely responsible for conducting their own inspections, investigations, and due diligence prior to bidding. All information contained in advertising, marketing materials, maps, soil information, or announcements is believed to be accurate but is not guaranteed. Any reliance upon such information is solely at the bidder’s risk.
CHANGES: Announcements made by the Auctioneer on auction day shall take precedence over all prior advertising and printed materials. Seller reserves the right to amend, modify, or supplement these terms and conditions at any time prior to execution of purchase agreements. Please check kaddatzre.com for updates and additional information.