As one of our siblings is battling some health issues, we have decided to sell our family farm at Internet-Only Auction.
Sellers: James V. Otto Trust, Angela Otto Robertson, Trustee.
These 134 +/- flat to gently rolling acres are conveniently located just 2 tenths of a mile north of the city limits of Riley and approximately 20 minutes northwest of Manhattan. The farm is easily accessible by Falcon road which runs along the entire west side. Farm Service Agency figures 91 acres of productive cropland consisting mostly of Wymore silty clay loam and Dwight-Irwin complex. The balance of the farm is good pastureland, waterways, and woods.
Auction Terms & Conditions:
- PROCEDURE: Bidding ends Wednesday, November 13, 2019, at 10:00 AM, with a soft close, meaning that a bid in the final minute will extend bidding by 5 minutes. All bids placed are by the Acre.
- BUYERS PREMIUM: 5% Buyer’s Premium will be added to the final bid price to arrive at the contract sales price.
- ACCEPTANCE OF BID PRICES: Winning bidder(s) will enter into a Contract to Purchase immediately upon being declared the Successful Bidder by the Auctioneer. Upon the close of the auction, the winning bidder will be forwarded via email a Contract to Purchase. Trophy Properties and Auction must receive a signed copy of the contract on or before 12:00 NOON, Thursday, November 14, 2019 (hand-delivered, faxed, or scanned and emailed). The Seller reserves the right to reject any and all bids. Once accepted, this agreement shall be binding on the parties and their successors and assigns. This agreement is NOT subject to financing, inspections, or other contingencies or delays the closing for such reason.
- DOWN PAYMENT: 10% of the contract purchase price will be due upon acceptance of the Sales Contract. Business or Personal Checks or Wire Transfer are accepted.
- CLOSING: Closing shall be on or before 3:00 PM., Wednesday, December 18, 2019.
- POSSESSION: Possession will be given at closing, subject to the remaining rights of the current tenant if any.
- TITLE: Seller shall furnish the buyer(s) at Seller’s expense an Owner’s Policy of Title Insurance in the amount of the purchase price and agrees to provide and execute a proper deed conveying merchantable title to the real estate to the buyer(s).
- SURVEY: AT SELLERS OPTION, the Seller shall provide a new survey where there is no existing legal description to convey title. REAL ESTATE TAXES: 2019 Real Estate taxes to be paid by the sellers.
- Under no circumstances shall Bidder have any kind of claim against Trophy Properties and Auction, or anyone else if the Internet service fails to work correctly before or during the auction.
- The information is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines are drawn on maps, photographs, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties pertaining to this property. Both real estate (including all improvements, if any) is being sold As-Is, Where-Is with NO warranties expressed or implied. Please make all inspections and have financing arranged prior to the end of bidding.