Sold At Auction Thursday, November 19, 2020 in Verdigre, NE at 3pm - ZCBJ Hall
Tract #7: 160 Acres +/- SOLD AT AUCTION $2,800/acre
Legal Description of Tract #7: NE1/4 of 23-30N-7W, Knox Co., NE
Tax ID: #540006878
2019 Tax: $2,200.08
Description of Tract #7: This tract offers a live stream, a great fishing pond with continuous flowing spring water, nice hardwoods, and pasture rental income. The good road access and hills overlooking the pond make this an idea site for a new home or cabin.
LIVE & ONLINE BIDDING AUCTION TERMS, CONDITIONS, & REQUIREMENTS
TITLE & CLOSING:
Seller will provide marketable title to the buyer evidenced by an Owners policy of title insurance to be provided by Knox Title & Escrow Company, Center, NE with the said cost being divided equally between buyer and seller. The lenders policy and any endorsements will be paid by the buyer if requested. Preliminary title search information is available upon request.
Closing shall take place on or before December 17, 2020 and will be facilitated by Cedar Title & Escrow Co., Hartington, NE. Any escrow closing fees charged by the closing agent will be equally divided between buyer and seller. The balance payable at closing must be in certified funds in the form of a cashiers check or wire transfer. Buyers failure to close on or before the closing date may be subject to paying seller interest payments or a daily penalty of up to $500 per day at the sellers election. Upon buyer default, the seller may also elect to engage other legal options including, but not limited to, retaining the earnest money deposit and selling the property to another party.
PURCHASE AGREEMENT & EARNEST MONEY:
The successful buyer will be required to enter into a written purchase agreement immediately upon conclusion of the auction. Online buyers agree to sign all documents immediately using electronic means. All bidders onsite or online will be required to also immediately deliver a 15% non-refundable down payment to be made payable to Homestead Land Company Trust Account. The earnest money deposit may be a check or wire transfer. Buyer must deliver a check to brokers office at 712 Main Street, Creighton, Nebraska or arrange for a wire transfer to our Real Estate Trust Account. Wiring instructions are available upon request. Buyers failure to meet all terms and conditions or perform and close on the real estate purchase agreement are subject to loss of their earnest deposit which will be retained by the seller and will not be refunded.
The written purchase agreement, to be signed by the seller and buyer after the auction, is the sole and controlling documents of this sale and supersedes any and all other terms whether verbal, written, expressed, or implied, and shall be the sole and controlling document for this real estate transaction. Bidders must request to review the purchase agreement prior to bidding if they wish to review it. Buyers consent to the purchase agreement as written by bidding and waive any additional legal review of the purchase agreement once the auction has ended.
Property to be sold AS IS with no warranties or guarantees implied. Information provided herein was obtain from sources deemed reliable, but Broker makes no guarantees to its accuracy. All prospective bidders are urged to fully inspect the property, its condition and rely on their own conclusions. The property is sold subject to existing easements, restrictions, covenants or reservations of record, if any. Plat maps, aerial photos, and reference materials are not intended as a survey and are for general location purposes only.
Tracts 1-4: Buyer will receive landlord possession of the property on the closing date, subject to the tenants rights to March 1, 2021 on cropland areas. Tract 2 is also being sold subject to the month to month lease on the farmstead which can be continued or terminated in the future at the discretion of the new buyer.
Tracts 5-7: Buyer will receive full possession of the property at closing.
RENT PROCEEDS & TAXES:
The seller shall receive all the 2020 farm rent and CRP income and will pay the 2020 and any prior years real estate taxes. The 2021 and future years real estate taxes will be the responsibility of the buyer.
A survey will only be conducted if legally necessary or as part of a pre-determined lot split. A buyer may perform any survey at their own expense provided however that it will not delay the auction or the closing and they hereby acknowledge that the resulting buyer initiated survey will not change the existing boundaries, acreage figures, legal description, or sale price.
By bidding, buyers agree that they will enroll and transfer any CRP acres or acres enrolled in government programs into their name upon gaining ownership or abide by continuing requirements of any government farm program, cost share improvement program, or conservation program on the premises. If buyer does not assume said contract(s) and enroll these acres they accept responsibility to pay any necessary penalties or withdrawal fees the program assesses and understand that the seller will not share in said costs or penalties incurred.
FSA base acres and yields will pass with the property as designated by reconstitution by the local USDA Farm Service Agency unless otherwise stated in the purchase agreement.
Seller and Sellers Agent disclose that there may be noxious weeds present on the property (i.e. musk thistle, Canada thistle, leafy spurge, purple loosestrife, etc). The location of and density of noxious weeds is unknown at this time.
All mineral rights owned by the seller, if any, will be conveyed to the buyer.
Seller to convey all OWNED ground water rights and surface water rights to buyer, if any. It will be the buyers responsibility to file any ownership transfer documents and pay any fees to the Nebraska Dept. of Natural Resources and/or local Natural Resources District upon gaining ownership at closing.
LEGAL DESCRIPTIONS/ ACREAGE:
Legal descriptions are subject to existing fence/field boundaries or land use trades or agreements, if any between adjacent landowners. All stated dimensions, sketches, and acreage figures are approximate or more or less and obtained from government tax records or FSA maps. The county tax records and FSA records may indicate different acreages and no warranty is expressed or implied as to exact acreages of property. The purchase price entered on the purchase agreement will be binding and will be for the total parcel without regard to exact acreage. Unless otherwise agreed upon in writing, there will be no adjustment in purchase price if acreage is different than what is published at the auction.
All bidders must be registered and be approved to bid. Bidders are urged to register early as registration is required at least 24 hours prior to the auction beginning. Register at [Web Link listed above]. Bidders must satisfy the auction company with their identity and be authorized to bid. The auction company reserves the right to require bidders to satisfy the auctioneer of their financial ability to perform on this transaction prior to bidding has occurred. All online bidders consent to phone calls, text messages or emails from the auction company and its agents. Prior to bidding, buyers may be required to provide the auction company verification of available funds to purchase the property and/or a bank loan approval letter with no contingencies. You do not have to be present to bid online but are required to be available by phone.
By registering and submitting bids on this auction you hereby agree to the Terms and Conditions set forth herein. All bids, in any form, are legally binding offers for real estate. The land will be sold by the acre, times the number of taxable acres.
All buyers acknowledge that the Internet may be unreliable and error prone. The sellers and auction company will not guarantee that bids placed online will always be transmitted to or received by the auctioneer in a timely fashion. Buyers hereby hold Mossy Oak Properties- Homestead Land and Management Company, Inc, their associates, and the seller harmless for any technology failures or interruptions in online bidding due to the failure of the software to function properly for any reason or due to errors caused by the buyers computer system or network. Bidding remotely does not guarantee anonymity.
Sale is not contingent upon buyer financing or appraisal; all preliminary financial arrangements must be made prior to the auction. All bids are considered to be CASH.
Bidding increments are solely at the discretion of the auctioneer. The auctioneer may accept absentee, phone, or internet bids from any qualified bidders. Being the high bidder does not form a contract until the auctioneer announces the property sold and the buyer is notified that the seller has accepted the bid.
Sale is contingent upon seller confirmation; however, it is their desire to sell to the highest and best bidder. The seller reserves the right to accept or reject any and all bids. The auction company and seller reserve the right to preclude any person from bidding if there is any question as to the persons credentials or fitness to bid.
Mossy Oak Properties Homestead Land & Management Company, Inc., and its associates are representing the seller as sellers agents. All bidders acknowledge that they are representing themselves or have hired representation using their own financial means to complete the auction sale transaction.
Announcements made the day of the auction will supersede earlier announcements, verbal or written. All decisions of the Auctioneer are final.
Mossy Oak Properties- Homestead Land and Management Company, Inc. and its associates care about our clients and customers and understand the importance of personal and public safety during the current Covid-19 situation. Therefore, please be aware that allowable indoor and outdoor crowd size restrictions and procedures may change without notice based on health directives from local, state, and federal agencies. It is encouraged that masks be worn inside during the auction. Please feel free to call if you have questions or concerns and/or need to make special arrangements to bid due to the current pandemic situation.