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Dusbabek Farms, LLC - Pivot Irrigated Colorado Land Auction

Details

Thursday, April 4, 2013
Grassroots Community Center, Joes, CO
640 +/- Acres Pivot Irrigated and Pasture - Kit Carson County, CO

Description

Successful Auction!  High Bid of $2,075,000 or $4,322 per pivot irr acre.

The Dusbabek Farms, LLC is offering a total of 640 +/- acres of Colorado Pivot Irrigated Land for Sale at auction consisting of 480 +/- acres of pivot irrigated and 160 +/- acres of pasture. Located in north central Kit Carson County, Colorado, the Dusbabek Farms, LLC property is located 5 +/- miles South of Kirk. The land tenure of the property is level to rolling terrain with primarily Class III soils with smaller areas of Class IV & VI soils. 3 irrigation wells are commingled and permitted to irrigate 480 acres with an allocation of 1,150 acre feet. 4 – Valley Pivots. 2013 Spring Possession of the property which is planted to alfalfa. Seller to convey owned mineral rights to the Buyer(s). The Dusbabek Farms, LLC property is located in a productive and highly desirable agricultural farming area. The Reck Agri Realty & Auction bidding format allows all Buyer(s) an equal opportunity to participate and purchase land to add to or expand your operation and/or current investment portfolio.

PIVOT IRRIGATED: 640 +/- Total Acres; 480 +/- acres pivot irrigated, 160 +/- ac pasture; Legal: SW1/4 of 1, E1/2 & SW1/4 of 2, T6S, R47W, Kit Carson County, CO; Location: From Kirk, CO, 3 +/- mi S on CR M in Yuma County, another 1.3 +/- mi S on CR 31 in Kit Carson County to CR NN, .5 +/- mi W on CR NN to SE corner of property, CR NN borders S property line & CR 29 borders W property line; Property is pivot irrigated with pasture in the corners; Land tenure is level to rolling terrain with primarily Class III with smaller areas of Class IV & VI soils; Irrigation Well Permits #16989-FP, #16986-FP, #16988-FP adjudicated and commingled for 1,150 acre feet to irrigate 480 acres; Irrigation equipment includes: 75 GE electric motor with Johnston pump, 100 GE electric motor with Johnston pump, and 125 US electric motor with Johnston pump, 2 - 7 tower Valley 4271 pivots & 2 - 8 tower Valley 8000 pivots; Call for detail brochure with complete description of equipment, well logs, and irrigation well efficiency test to be completed; FSA base: 517.8 acres corn with 130 bu yield; RRWCD Assessment: $7,250; R/E taxes: $1,761.96.

SALE TERMS/PROCEDURE: The "DUSBABEK FARMS, LLC PIVOT IRRIGATED LAND AUCTION" is a land auction with Reserve. The Dusbabek Farms, LLC property to be offered as one Parcel. Competitive bids will determine outcome of auction. 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 not price per acre.
SIGNING OF PURCHASE CONTRACT: Immediately following the conclusion of the auction, the highest bidder(s) will enter into and sign a Contract to Buy and Sell Real Estate (Land) 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 which is due upon the signing of the contract and to be deposited with Reck Agri Realty & Auction. Purchase contract will not be contingent upon financing. Terms and conditions of the detail brochure and oral announcements shall be incorporated and made a part of the contract. Sample contract is available within the detail brochure.
CLOSING: Buyer(s) shall pay in cash, electronic transfer funds, or cashier's check (Good Funds), the balance of purchase price (purchase price less earnest money deposit), plus their respective closing costs, and sign and complete all customary or required documents at closing, which is on or before May 3, 2013. Closing to be conducted by Kit Carson County Abstract and the closing service fee to be split 50-50 between Seller and Buyer(s).
TITLE: Seller to pass title by Warranty Deed free and clear of all liens. 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). Property to be sold subject to existing roads and highways; established easements and rights-of-way; prior mineral reservations, conveyances of record and minerals; oil and gas leases of record; patent reservations; other matters affected by title documents shown within the title commitment; and zoning, building, subdivision, and other restrictions and regulations of record. Title commitments are available for review within the detail brochure and at the auction and title commitment and exceptions will be incorporated and made a part of the Contract to Buy and Sell Real Estate (Land).
POSSESSION: Upon signing of contract and the earnest money clearing the banking system and being legally sufficient funds, Buyer(s) may enter onto property and complete the necessary work to prepare the established alfalfa for the crop season. Any completion of fieldwork and/or preparation of established alfalfa crop doesnot constitute a farm lease. If Buyer(s) defaults and doesn’t 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. Buyer(s) not to till, spray or destroy the established alfalfa crop without permission of the Seller.
PROPERTY CONDITION: 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 and the property is being sold AS IS-WHERE IS, without warranty, representation or recourse to Seller.
WATER RIGHTS: Together with all water wells and equipment, well permits, all water, water rights, water development rights, tributary and non-tributary groundwater, associated with said water rights, and all domestic/livestock wells and irrigation wells; appurtenant to the property, including but not limited to the following: Well Permits #16988-FP, #16989-FP, and #16986-FP. The water rights are subject to the rules, regulations, and limitations of the Colorado Department of Water Resources, Arikaree Groundwater Manage-ment District, and the Republican River Conservation District. Water rights are being sold AS IS-WHERE IS without warranty or guaran-tee of any water right matters, pumping rates/adequacy of livestock/domestic/irrigation wells and condition of all irrigation equipment. Buyer(s) are purchasing the property subject to implementation of administrative procedures and limitations of large capacity irrigation wells which may have exceeded their maximum annual permitted acre foot appropriation in 2012.
REAL ESTATE TAXES: 2012 Real Estate Taxes due in 2013 to be paid by Seller, 2013 real estate taxes 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.
MINERALS: Seller to convey all OWNED mineral rights to Buyer(s). Said mineral rights are being conveyed without warranty, represen-tation, and/or guarantee of mineral right ownership. Buyer(s) should seek their own legal opinion if there is a question as to the ownership of said mineral rights.
NOXIOUS WEEDS: There may be areas infested by noxious weeds, (i.e. rye, bindweed, Canadian thistle, rye, goat/Johnson grass, etc). The location of and the density of noxious weeds is unknown at this time.
ACREAGES: All stated acreages in the initial brochure, detail brochure, 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.
1031 EXCHANGE: It is understood and agreed that Seller desires to sell the property which is the subject of this Auction in a "tax free" exchange under Section 1031 of the Internal Revenue Code of 1986, as amended. Buyer(s) agrees to cooperate, but is not required to incur any additional expense or risk.
MULTIPLE PARTY BID: If several parties go together and collectively bid on one Parcel and the Multiple Party Bid is the highest bid, at the conclusion of the auction each party within the Multiple Party Bid shall identify and agree to sign separate contract(s), pay for their respective separate parcel(s) at closing, and pay for a metes & bounds survey and additional title insurance premium to create the legal description for their respective separate parcel. The collective purchase prices for the separate Parcel(s) shall equal the total Multiple Party Bid.
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 at the Buyers' Information Meeting 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 assumes no responsibility for the omissions, corrections, or withdrawals. The location map is not intended as a survey and is 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 Transactional 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 the "DUS-BABEK FARMS, LLC PIVOT IRRIGATED LAND AUCTION”. Reck Agri Realty & Auction reserves the right to require bank references upon request and reserves the right to refuse bids from any bidder. Bidder increments are at the discretion of the Broker.
COPYRIGHT NOTICE: Photographs, video tapes, 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 the Internet web page.
WEATHER NOTICE: On auction day, to check status of “Dusbabek Farms, LLC Pivot Irrigated Land Auction” due to inclement weather, please call our office at (970) 522-7770, check www.reckagri.com, or listen to KSIR (1010 AM) or KNNG (104.7 FM).
A DETAIL BROCHURE is available upon request and is REQUIRED to bid at the auction, via cell phone, or online bidding. It includes the terms and conditions of the auction, pertinent facts, title commitment, Auction Land Contract, etc. For additional color photos visit the “Dusbabek Farms, LLC Pivot Irrigated Land Auction” Visual Tour on our website: www.reckagri.com.

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SOLD! $2,075,000

Quick Facts

  • DUSBABEK FARMS, LLC PIVOT IRRIGATED LAND AUCTION w/reserve
  • Successful Auction! High Bid of $2,075,000 or $4,322 per pivot irr acre.
  • 640 +/- Total Acres
  • 480 +/- Acres Pivot Irrigated
  • 160 +/- Acres Pasture
  • N Central Kit Carson County, Colorado
  • 5 +/- mi S of Kirk, Colorado
  • Spring Possession
  • 4 – Valley Pivots
  • 3 – Irrigation Wells
  • Irrigation wells permitted for 480 acres @ 1,150 acre feet
  • Planted to alfalfa
  • Level to rolling terrain
  • Primarily Class III soils w/smaller areas Class IV & VI soils
  • Owned minerals conveyed to Buyer