5 Riverside Private Rights in 5 water lots of 1 private right each. Starting bid for each water lot: $180,000. Riverside private rights may be traded, exchanged, and/or used for irrigation. Please consult with Riverside Reservoir and Land Company and/or your consultant for the approved uses. Rare opportunity to purchase as an investment and/or for additional water.
The Riverside Reservoir is located approximately 12 miles NW of Wiggins, CO north of the South Platte River in SE Weld County. Riverside Reservoir and Land Company owns the Riverside Reservoir and Riverside Inlet Canal. Source of water is via South Platte River. Riverside Reservoir and Land Company provides supplemental water for lands under several canal systems (irrigation ditch companies). Riverside Irrigation District is the primary shareholder with several canal systems, individuals, and/or entities owning the balance. 1 Private Right is 4 shares of The Riverside Reservoir and Land Company. If the reservoir is full, 1 Private Right is entitled to 16 acre feet at the reservoir. The net delivery will shrink depending where the water is delivered. The assessment for 1 Private Right is $100.
ONLINE BIDDING PROCEDURE: The RIVERSIDE PRIVATE RIGHT AUCTION will be offered for sale in 5 Water Lots. BIDDING WILL BE ONLINE ONLY. Bidding will begin @ 8:00 am MT on October 1, 2024. The auction will “soft close” @ 12:00 noon, MT on October 1, 2024. Bidding remains open on all parcels as long as there is continued bidding on any of the parcels. Bidding will close when 5 minutes have passed with no new bids. Bidders may bid on any and/or all parcels at any time before bidding closes.
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 Riverside Private Right Auction 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 and 2.) Provide Reck Agri Realty & Auction verification of available funds to purchase the private rights and/or bank loan approval letter with no contingencies. 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 Riverside Private Right Auction page at reckagri.com or by calling Reck Agri Realty & Auction. 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, pertinent information, and sample contract.
SALE TERMS/PROCEDURE: The “RIVERSIDE PRIVATE RIGHT AUCTION” with RESERVE is an online only auction with RESERVE. The 5 Riverside Private Rights to be offered in 5 Water Lots of 1 Private Right / Water Lot. Competitive bids will determine the outcome of the auction. Seller agrees not to accept and negotiate any contracts to purchase prior to auction date. Bids will be taken for total purchase price.
SIGNING OF PURCHASE CONTRACT: Immediately following the closing of the auction, the highest bidder(s) will sign Brokerage Disclosure and will enter into and sign a Purchase Contract for Water 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 to be applied toward the total purchase price. Purchase contract will not be contingent upon financing. Terms and conditions of the Due Diligence Packet and announcements shall be incorporated and made a part of the contract. Sample 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 October 18, 2024. Closing to be conducted by Broker.
WATER RIGHT CONVEYANCE: 4 shares of The Riverside Reservoir and Land Company equal 1 Riverside Private Right. Seller to convey all Seller’s rights to said Riverside and Land Company shares (Private Rights) and all rights associated with said shares. The water shares are subject to the rules, regulations, and limitations of the Colorado Department of Water Resources and The Riverside Reservoir and Land Company. Water rights are being sold AS IS-WHERE IS without warranty or guarantee of any water right matters, adequacy and/or delivery of reservoir water and stream flows. Seller to pay for 2024 irrigation assessments and Buyer(s) to pay for 2025 and thereafter irrigation assessments. The Riverside Reservoir and Land Company shares are to be conveyed by stock assignment.
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 prospective Buyer(s) should verify all information contained herein. Reck Agri Realty & Auction and all other agents of Broker are or will be acting as a Transaction Broker. Reck Agri Realty & Auction does not offer broker participation for the “RIVERSIDE PRIVATE RIGHT 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.
