Salmonson Family Trust Dryland Auction

OVERVIEW: The Salmonson Family Trust is offering their dryland property for sale at auction! This auction features 1,122.1± acres of dryland to be offered in 5 Parcels and 2 Combos. Buyer(s) shall have possession upon closing except for Parcel #2A.
SALE TERMS/PROCEDURE: The “SALMONSON FAMILY TRUST DRYLAND AUCTION” is a land auction with RESERVE. The Salmonson property to be offered as a “MULTI PARCEL” Auction in 5 Parcels and 2 Combos. The parcels and combos will be offered in the sale order as stated. The parcels and combos will compete to determine the highest aggregate bid(s). Seller agrees not to accept and negotiate any contracts to purchase prior to auction date. Bids will be taken for total purchase price not price per acre.
SIGNING OF PURCHASE AGREEMENT: Immediately following the conclusion of the auction, the highest bidder(s) will sign Disclosure of Brokerage Relationships and enter into and sign a Purchase Agreement for the amount of the bid. Required earnest money deposit to be in the form of a personal, business, or corporate check for 15% of the purchase price. Said earnest money is due upon the signing of the Purchase Agreement and to be deposited with Reck Agri Realty & Auction. Purchase Agreement will not be contingent upon financing. Terms and conditions in the Detail Brochure and oral announcements shall be incorporated and made a part of the Purchase Agreement. Sample Purchase Agreement is available within the Detail Brochure.
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 December 28, 2021. Closing to be conducted by Thalken Title and the closing service fee to be split 50-50 between Seller and Buyer(s).
TITLE: Seller to pass title by Trustee Deed free and clear of all liens and subject to all easements and restrictions now of record. Title commitments are available for review within the Detail Brochure and title commitment and exceptions will be incorporated and made a part of the Purchase Agreement. 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). The Buyer(s) to receive a TBD title commitment within Detail Brochure, updated title commitment with Buyer(s) name, lender, purchase price, and all supplements and additions thereto after 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 and other matters shown within the title commitment.
POSSESSION: Possession of property upon closing, except where growing wheat is planted. Buyer(s) shall receive possession after 2022 wheat harvest.
PROPERTY CONDITION: Prospective Buyer(s) should verify all information contained herein, 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.
LEASE/GROWING CROPS: Seller to convey to Buyer(s) Landlord’s share (30%) of wheat currently planted. Buyer(s) to accept transfer of indemnity of crop insurance and pay premium at closing.
REAL ESTATE TAXES: 2021 Real Estate Taxes due in 2022 to be paid by Seller, at closing.
FSA DETERMINATION: FSA base acres and yields to pass with the Parcels as designated within Detail Brochure. Buyer(s) and Seller, at closing, to sign a memorandum of understanding stating the base acres and yields as designated within the Detail Brochure.
LEGAL DESCRIPTION: Legal descriptions are subject to existing fence/field boundaries or land-use trades, if any.
MINERALS: Seller to convey all 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, Detail Brochure, and visual presentation at the auction are approximate. Said acreages are obtained from the FSA office and/or county tax records and may indicate different acreages. 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.
BIDDER REQUIREMENTS: Prior to auction, Buyer(s) to review the terms and conditions as set forth in the Detail Brochure. Detail Brochure may be obtained by visiting auction property page at www.reckagri.com, or by calling Reck Agri Realty & Auction. Bidding via cell phone, internet, and/or bidding on someone’s behalf, must be approved by Reck Agri Realty & Auction 24 hours prior to auction.
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 general location purposes only. The prospective Buyer(s) should verify all information contained herein. All prospective bidders are urged to fully inspect the property, its condition and to rely on their own conclusions. All equipment and improvements are to be sold AS IS-WHERE IS, without warranty, representation or recourse to Seller. Reck Agri Realty & Auction and all other agents of Broker are or will be acting as a Limited Seller’s Agent. 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 the “SALMONSON FAMILY TRUST DRYLAND 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, and Color & Detail Brochures are property of Reck Agri Realty & Auction and cannot be reproduced without permission. Auction photographs may be used by Reck Agri Realty & Auction in publications, marketing materials, and on its website.