Double W Farmstead Auction

ONLINE BIDDING PROCEDURE: The “DOUBLE W IRRIGATED FARM AUCTION” is a land auction with RESERVE to be held on Thursday, March 28, 2024. BIDDING WILL BE ONLINE ONLY. This property will be offered for sale in 2 Parcels. Bidding will open at 8 AM, MT and Parcel #1 will “soft close” at 12 PM (noon), MT. Parcel #2 will “soft close” 15 minutes AFTER Parcel #1 has closed. Bidding will close on each Parcel when 5 minutes have passed with no new bids. Seller reserves the right to accept or reject any and all bids. Seller agrees not to accept and negotiate any contracts to purchase prior to auction date. Bids will be taken for total purchase price of each parcel and not price per acre.
To bid at the online auction: 1.) Download RECK AGRI MOBILE APP through the Apple App Store or Google Play OR visit reckagri.com and click on the DOUBLE W IRRIGATED FARM AUCTION property page to register to bid. 2.) Your registration must be approved by Reck Agri Realty & Auction before you may bid. See Bidder Requirements below. 3.) If you have questions regarding the bidding process and/or registration, call Reck Agri Realty & Auction at 970-522-7770.
BIDDER REQUIREMENTS: To register to bid, Buyer(s), prior to the auction, must review and accept the Due Diligence Packet with the full auction terms and conditions, property descriptions, pertinent information, title commitments, and sample purchase contracts. A Due Diligence Packet may be obtained by visiting the auction property page at reckagri.com, or by calling our office.
TERMS: Upon the conclusion of the auction, the highest bidder(s) will sign a Brokerage Disclosure and will enter into and sign a Contract to Buy and Sell Real Estate (Land) for the amount of the bid. Required earnest money deposits are as follows: Parcel #1) 15% & Parcel #2) 5% of the total purchase price are due upon the signing of the contract(s) and to be deposited with Reck Agri Realty & Auction. Earnest money deposits will be transferred to Phillips County Abstract prior to closing and applied toward the total purchase price. Purchase contract(s) will not be contingent upon financing. Terms and conditions in the Due Diligence Packet and announcements shall be incorporated and made a part of the contract. Sample purchase contract is available within the Due Diligence Packet.
CLOSING: Buyer(s) shall pay in good funds, the balance of purchase price plus their respective closing costs, and sign and complete all customary or required documents at closing, which is on or before May 3, 2024. If Parcels sell to different Buyer(s), closing may be extended up to 30 days to accommodate the required survey. Closing to be conducted by Phillips County Abstract and the closing service fee to be split 50-50 between Seller and Buyer(s).
TITLE: Seller to pass title by General Warranty Deed free and clear of all liens, encumbrances, special assessments levied or assessed, and subject to all easements and restrictions or covenants now of record. Title commitments are available for review within the Due Diligence Packet and title commitment and exceptions will be incorporated and made a part of the Contract to Buy and Sell Real Estate (Land). Title Insurance to be used as evidence of marketable title and cost of the premium to be split 50-50 between Seller and Buyer(s), except Buyer(s) to pay for cost of loan title insurance policy, if applicable. The Buyer(s) to receive a TBD title commitment within Due Diligence Packet, an updated title commitment with Buyer(s) name, lender, purchase price, and all supplements and additions thereto after the auction, and an owner’s title insurance policy in an amount equal to the purchase price after closing.
Property to be sold subject to existing roads and highways; established easements and rights-of-way; prior mineral reservations, and other matters affected by title documents shown within the title commitment; and zoning, building, subdivision, and other restrictions and regulations of record.
POSSESSION: Upon signing of contract and the earnest money clearing, Buyer(s) may enter onto Parcel #1 and complete the necessary fieldwork and/or plant crops. Any completion of fieldwork and planting of crops does not constitute a farm lease. If Buyer(s) defaults and does not close, all fieldwork, crop expenses, and earnest money is forfeited to Seller. If closing does not occur due to the default of Seller, Seller to reimburse Buyer(s) for fieldwork completed at custom rates and invoiced crop expenses. Possession of Parcel #2 upon closing.
LEASE: Seller attests there is no farm lease (verbal or written) and/or any prior lease has been appropriately terminated. Should a tenant claim interest in the property, Seller to stand all costs associated with said termination.
PERSONAL PROPERTY: Seller to provide an updated list of inclusions/exclusions for Parcel #2 to all registered bidders prior to the auction.
WATER RIGHTS & EQUIPMENT: Buyer(s) shall receive whatever interest, if any, Seller has in any water rights appurtenant to the property. Seller to convey all Seller’s water rights, water wells, well permits, and equipment appurtenant to the property whether for irrigation, domestic or livestock use, including but not limited to the following: Irrigation Well Permits #6947-FP (RFP), and #12332-FP (Parcel #1) and Domestic Well Permit #147936-A and #316642 (Parcel #2).The water rights are subject to the rules, regulations, and limitations of the Colorado Department of Water Resources, Republican River Water Conservation District and the local groundwater management district. Water rights are being sold AS IS-WHERE IS without warranty or guarantee of any water right matters, pumping rates/adequacy of livestock/domestic/irrigation wells and condition of all irrigation equipment.
FSA DETERMINATION: FSA base acres and yields to pass with Parcel #1 as designated herein. Buyer(s) and Seller, at closing, to sign a Memorandum of Understanding (MOU) stating the base acres and yields.
REAL ESTATE TAXES: 2024 real estate taxes due in 2025, and thereafter, to be paid by Buyer(s).
LEGAL DESCRIPTION: Legal descriptions are subject to existing fence/field boundaries or land-use trades, if any. If the Parcels sell to different Buyer(s), a survey will be required to create a metes and bounds legal description, Seller to provide and pay for said survey. Seller & Buyer(s) agree that closing may be extended up to 30 days if necessary to complete said survey.
MINERALS: Seller to convey all of Seller’s OWNED mineral rights to Buyer(s).
NOXIOUS WEEDS & CHEMICALS: There may be areas infested by noxious weeds, (i.e. rye, bindweed, Canadian thistle, goat/Johnson grass, etc). The location of and the density of noxious weeds is unknown at this time.
ACREAGES: All stated acreages in the Color Brochure, Due Diligence Packet, and visual presentation at the auction are approximate and are obtained from aerial photos from the FSA office. The county tax records may indicate different acreages and no warranty is expressed or implied as to exact acreages of property. All bids are for the total parcel without regard to exact acreage. There will be no adjustment in purchase price if acreage is different than what is stated in this brochure and/or stated at the auction.
PROPERTY CONDITION: All prospective bidders should verify all information contained herein and are urged to fully inspect the property, its condition, and to rely on their own conclusions. The property is being sold AS IS-WHERE IS, without warranty, representation, or recourse to Seller.
ANNOUNCEMENTS: The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. Reck Agri Realty & Auction and the Seller assume no responsibility for the omissions, corrections, or withdrawals. The location maps are not intended as a survey and are for illustrative purposes only. Reck Agri Realty & Auction and all other agents of Broker are or will be acting as a Transaction Broker. Announcements made by Reck Agri Realty & Auction, at the time of sale will take precedence over any previously printed material or other oral statements. Reck Agri Realty & Auction does not offer broker participation for this auction. Reck Agri Realty & Auction reserves the right to require bank references upon request and reserves the right to refuse bids from any bidder. Bidding increments are at the discretion of the Broker.
COPYRIGHT: Photographs, videos, Color Brochure & Due Diligence Packets are property of Reck Agri Realty & Auction and cannot be reproduced without permission.