Kaiser Family Farms Irrigated Land Auction

FINAL terms

AUCTION PROCEDURE: The “KAISER FAMILY FARMS IRRIGATED LAND AUCTION” is a land auction with RESERVE to be held on Thursday, April 4, 2024. BIDDING WILL BE ONLINE ONLY. This property will be offered for sale in 1 Parcel. Bidding will open at 8 AM, MT and will “soft close” at 12 PM (noon), MT. Bidding will close 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 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 KAISER FAMILY FARMS IRRIGATED LAND 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: Requirements for Buyer(s) to be approved to bid online: 1.) Review and agree to the terms and conditions of the Due Diligence Packet; 2.) Provide Reck Agri Realty & Auction verification of available funds to purchase the property and/or bank loan approval letter with no contingencies; and 3.) Complete and submit the ‘Bidder Approval Request’ form located on this property’s page at reckagri.com. Reck Agri Realty & Auction reserves the right to refuse registration to bid and/or bids from any bidder. Bidding increments are at the discretion of the Broker. Due Diligence Packet may be obtained by visiting Kaiser Family Farms Irrigated Land Auction property page at reckagri.com or by calling Reck Agri Realty & Auction.
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 deposit is 15% of the total purchase price which is due upon the signing of the contract(s) and to be deposited with Reck Agri Realty & Auction. Earnest money deposit will be transferred to Northeast Colorado Title prior to closing and applied toward the total purchase price. Purchase contract 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 10, 2024. Closing to be conducted by Northeast Colorado Title 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 the property to complete 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.
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.
WATER RIGHTS & EQUIPMENT: Seller to convey all Seller’s water rights, water wells, well permits, and equipment appurtenant to the property for irrigation, including but not limited to the following: 30 shares in Lowline Ditch Company; Dickinson Well 1—#3052-F.The water rights are subject to the rules, regulations, and limitations of the Colorado Department of Water Resources, Lowline Ditch Company bylaws and augmentation rules of the Lowline Augmentation Plan. Water rights are being sold AS IS-WHERE IS without warranty or guarantee of any water right matters, pumping rates/adequacy of irrigation well and condition of all irrigation equipment.
GROWING CROPS: None
FSA DETERMINATION: FSA base acres and yields to pass with the property as designated within the Due Diligence Packet. Buyer(s) and Seller, at closing, to sign a Memorandum of Understanding (MOU) stating the base acres and yields as designated within the Due Diligence Packet.
REAL ESTATE TAXES & IRRIGATION ASSESSMENTS: 2024 real estate taxes and irrigation assessments, 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. 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. 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.