Budin Ranch Land Auction

Terms & Conditions

AUCTION DATE/TIME: The Budin Ranch Land Auction will be held Tuesday, November 16, 2021, at 10:30 am MT at the Reck Agri Auction Center, Sterling, CO.
OVERVIEW: Just a quick glance and you’ll see why the family began purchasing the first tracts of this ranch over 100+ years ago! The historic Budin Ranch at Pawnee Pass in western Logan County is truly a rare opportunity to purchase 7,086± acres in northeastern Colorado. This contiguous ranch features nearly 6± miles of Pawnee Creek bottom. With spring-fed ponds, large cottonwoods and other riparian vegetation, the Pawnee Creek provides excellent protection for livestock and dense habitat for wildlife – including deer, pronghorn and a variety of other small game. Offered in 5 parcels, 2 combos and as a Single Unit with parcel sizes ranging from 40± to 2,564± acres, combo sizes ranging from 2,552± to 4,494± acres, or the entire ranch of 7,086± acres.
LOCATION: From Sterling, CO: Take Hwy 14 west 13± miles to the top of Pawnee Pass; take Co Rd 11 north 1.75± mi to the south end of the ranch (Co Rd 30.7 and Co Rd 32)
SALE TERMS/PROCEDURE: The “BUDIN RANCH LAND AUCTION” is a land auction with NO RESERVE. Competitive bids will determine outcome of auction and the Seller to enter into a contract to purchase with the highest bidder(s). Property to be offered in 5 Parcels, 2 Combos, and as a Single Unit. The parcels, combos, and single unit will be offered in the sale order as stated within the brochure. The parcels, combos, and single unit 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 CONTRACT: Immediately following the conclusion of the auction, the highest bidder(s) will sign 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 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 in 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 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 17, 2021. Closing to be conducted by Northeast Colorado Title Company 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, 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 Detail Brochure 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 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; 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 / LEASE: Property being sold subject to existing lease. Lease to expire on or before January 31, 2022. Possession to be delivered to Buyer(s) on or before January 31, 2022. Possession of property will be available for the 2022 grazing season.
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: Buyer(s) shall receive whatever interest, if any, Seller has in any water rights appurtenant to the property.
CRP CONTRACT: Seller to convey all right, title, and interest to the existing CRP contract to the Buyer(s) as successor in interest. Seller to convey the October 2022 CRP payment to Buyer(s). Buyer(s) assumes responsibility of the maintenance of the CRP acres, the obligations of the CRP contract, and agree to enter into new CRP contract within 60 days after the closing. Buyer(s) assumes responsibility of the costs and penalties if Buyer (s) chooses to terminate the existing contract.
REAL ESTATE TAXES: 2021 real estate taxes due in 2022, to be paid by Seller. 2022 real estate taxes due in 2023, 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 shall reserve 60% of OWNED mineral rights.
NOXIOUS WEEDS: There may be areas infested by noxious weeds, (i.e. bindweed, canadian thistle, 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.
COLORADO STATE LEASE: The State Lease described as Section 36, T9N, R55W to be offered for sale with Parcel #2B, Combo #2, and the Single Unit. Seller to assign said State Lease to Buyer (s). Buyer(s) to make application and pay transfer and application fee. State Lease transfer is subject to approval of State Land Board. It is recommended Buyer(s) meet with State Land Board representative prior to auction to inquire if Buyer (s) qualify for the assignment of State Lease. Current state lease payment to be prorated to the day of closing.
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 Transaction 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 “BUDIN RANCH 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. 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.