AUCTION TERMS

The property is sold “as is” where is. It is up to the buyer(s) to do all due diligence in conducting their own investigation of the farm. No warranties or guarantees are expressed or implied, by the seller or UFARM Real Estate.

All mineral interests owned by the seller will transfer to the buyer(s).

A 10% non-refundable earnest deposit is required at time of signing the purchase agreement.
Stewart Title Company will provide title insurance and close the sale. The title insurance and closing fee will be split between buyer and seller. Closing to occur on or about May 6, 2023 or such date as agreed by both parties.

Real estate taxes for 2022 and past years will be paid by the seller. The buyer(s) is responsible for 2023 and future years taxes.

UFARM Real Estate and its agents/representatives are acting as Agents for the Seller.

In the event of an internet outage or other technical issues, UFARM Real Estate reserves the right to continue bidding, extend bidding or close bidding. UFARM Real Estate is not responsible for missed bids or the failure of software to properly function for any reason.

BIDDING PROCESS

The live auction will occur on April 6, 2023 at 10:30 at Divots Convention Center. It will be a simulcast with online bidding. Online bidding will begin on April 1, 2023 at 8:00 AM with bidding concluding at the end of the live auction. Online bidding is visible but bidder identity is confidential.

Individual tract bidding will be in $200 per acre increments for Tract 1 and $50 increments for Tract 2. The two tracts will be offered individually until no more bidding occurs. The highest individual bids will be held.

The land will then be offered as a combined unit. The starting price will be the total bids of tracts 1 & 2 and increased $50 per acre. If a combined bid occurs then the highest combination bid will be the final sale price subject to confirmation by the sellers. Individual tract bidders are encouraged to pool together to compete with the combination bidder.

The final sale price is the total acres (whether individual or combined) times the last bid. UFARM reserves the right to adjust the bidding increment.

Sale is not contingent on buyer(s) financing. The written purchase agreement, to be signed by both parties the day of sale, is the sole document governing the sale of the property. It supersedes any other document whether written or oral.

It is the seller’s intent to sell but they reserve the right to reject any and all offers. The data for the site analysis was provided by County & Government agencies or other sources and is considered to be reliable. However, UFARM does not guarantee its accuracy and strongly suggests all prospective buyers should do their own due diligence. Maps are for illustration purposes only. All announcements made day of sale take precedence over previous  announcements verbal or written. All decisions of the auctioneer are final