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Harry (Bud) Johnson, Colorado CRP Absolute Land Auction

Details

Wednesday, March 27, 2013 @10:30 am MT
Washington County Event Center, Akron, CO
579.7 +/- Acres CRP - Washington County, Colorado

Description

Successful Auction! High Bid total $735,000 or $1,268 per CRP acre. Sells as 2 Parcels. Parcel #1 $460,000 or $1,423 per CRP acre and Parcel #2 $275,000 or $1,139 per CRP acre.  Thank you seller and bidders!

The Harry (Bud) Johnson Estate is offering 579.7 acres of Colorado land for sale at auction. Located in northeast Washington County, Colorado, the Johnson property includes 564.5 acres of CRP Land for Sale, which is a highly desirable and sought after investment property. The Buyer(s) will have immediate possession, receive 100% of the 2013 CRP payments with the CRP contracts expiring in 2018 and 2022, and annual payments range from $32.38/ac to $35.41/ac. The Multi Parcel Auction bidding format allows all bidders an equal opportunity to participate and purchase land enrolled in the Conservation Reserve Program (CRP) with parcel sizes of 254 acres and 325.7 acres to add to or expand your operation and/or current investment portfolio. 50% of owned mineral rights conveyed to Buyer(s). Some of the property being sold has been within the same ownership for many years and once sold, may never again be publicly offered for sale.

PARCEL #1 - CRP – 325.7 +/- Total Acres; 323.1 +/- ac CRP, 2.6 +/- ac waste; Legal: N1/2 of 17, T4N, R49, Washington County, CO; Location: From Otis, CO, 10 mi N on Hwy 61 to CR 50, 4 mi E on CR 50 to CR VV, 1.5 mi N on CR VV to SW corner of the property; Property enrolled in CRP program, Terrain is level to rolling; Soils consist primarily of Class IV with areas of Class II; CRP contract #10165 w/annual payment of $10,462 @ $32.38/acre & contract expires 9/30/2022; 2012 R/E taxes: $537.34.

PARCEL #2 - CRP - 254 +/- Total Acres; 241.4 +/- ac CRP, 12.6 +/- ac waste; Legal: S1/2 of 6, T3N, R50, Washington County, CO; Location: From Otis, CO, 8 mi N on Hwy 61 to CR 48, 2 mi W on CR 48 to CR PP, .5 mi S on CR PP to NE corner of the property; Property enrolled in CRP program, Terrain is mostly level to rolling; Soils consist primarily of Class III and Class IV; 48.3 ac CRP contract #2099B w/annual payment of $1,710 @ $35.41/acre & contract expires 9/30/2018; 193.1 ac CRP contract #2091B w/annual payment of $6,838 @ $35.41/acre & contract expires 9/30/2018; 2012 R/E taxes: $387.80.

SINGLE UNIT – (PARCELS #1 & #2) - 579.7 +/- Total Acres; 564.5 +/- ac CRP; 15.2 +/- ac waste; See parcel descriptions for legals and directions to each parcel; 564.5 ac enrolled in CRP program with 3 contracts w/annual payments of $19,010 @ average of $33.67/acre and contracts expiring in 2018 & 2022; 2012 R/E taxes: $925.10.

SALE TERMS/PROCEDURE:
The "Harry (Bud) Johnson Absolute CRP Land Auction" is a land auction with NO RESERVE. The Harry (Bud) Johnson Absolute CRP Land Auction property to be offered as a "MULTI PARCEL" Auction in 2 Parcels and as a Single Unit. The parcels and single unit will be offered in the sale order as stated within the brochure. The parcels and single unit will compete to determine the highest aggregate bid(s). Seller agrees not to accept and negoti-ate 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 docu-ments at closing, which is on or before April 26, 2013. Closing to be conducted by Washington County Title and the closing service fee to be split 50-50 between Seller and Buyer(s).

TITLE: Seller to pass title by 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). 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. If there are any additional exceptions added to the title commitment, Buyer(s) shall have 5 days after receipt of updated commitment to accept additional exceptions. Seller will not pay any cost of lender's or mortgagee's policy or title endorsements requested by 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 reserved by Seller as shown within these Terms & Conditions; oil and gas leases of record; patent reservations; other matters affected by title documentsshown within the title commitment; & zoning, building, subdivision, & other restrictions & regulations of record. Title commitments are available for review within the detail brochure & at the auction & title commitment and exceptions will be incorporated and made part of the Contract to Buy & Sell Real Estate (Land).

POSSESSION: Possession of property upon closing.

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 & EQUIPMENT: Buyer shall receive whatever interest, if any, Seller has in any water rights appurtenant to the property.

CRP CONTRACTS: Seller to convey all right, title, and interest to the existing CRP contracts to the Buyer(s) as successor in interest. Seller to convey the October 2013 CRP payment. Buyer(s) assumes responsibility of the maintenance of the CRP acres, the obligations of the CRP contract, the costs and penalties associated with the termi-nation of the CRP contract, and agrees to enter into new CRP contract within 60 days after the closing.

REAL ESTATE TAXES: 2012 Real Estate Taxes due in 2013 to be paid by Seller, 2013 real estate taxes due in 2014, 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: Saving and reserving unto Seller, their heirs, succes-sors, and/or assigns, one-half of all OWNED oil, gas, and other minerals in, on, and under and that may be produced from the above-described premises, together with right of ingress and egress and use of so much of the surface as may be necessary for the full enjoyment of the mineral estate herein saved and reserved.

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.

MULTIPLE PARTY BID: If several parties go together and collec-tively bid on parcels 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 Multi-ple 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 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 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. Heirs of Harry L. Johnson reserve the right to bid. Reck Agri Realty & Auction does not offer broker participation for the "Harry (Bud) Johnson Absolute CRP 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, videos, 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 “Harry (Bud) Johnson Absolute CRP 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 “Harry (Bud) Johnson Absolute CRP Land Auction” Visual Tour on our website: www.reckagri.com.

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SOLD: $735,000

Quick Facts

  • Harry Bud Johnson CRP
  • Absolute Land Auction 3/24/2013
  • Successful Auction!
  • High Bid total $735,000. $1,268 per CRP acre.
  • Thank you seller and bidders!
  • 579.7 +/- total acres
  • 564.5 +/- acres of CRP
  • NE Washington County, Colorado
  • 10 – 13 mi N of Otis, Colorado
  • Possession upon closing
  • 100% of the 2013 CRP payments
  • 2 CRP contracts @ $35.41/ac expires in 2018
  • 1 CRP contract @ $32.38/ac expires in 2022
  • Offered in 2 Parcels, 1 Combo - Single Unit
  • 50% of owned mineral rights to Buyer