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Cleo Fryrear Estate Dryland AuctionSUCCESSFUL AUCTION

480.0+/- total acres - SW Phillips County, CO

Description

SOLD! CLOSED AUGUST 30, 2018. SUCCESSFUL AUCTION! HIGH BID OF $745,000 for Single Unit, $/1,576 per acre.

The Cleo Fryrear Estate is offering 480 acres of Colorado land for sale at auction.  The Fryrear property includes 457.3+/- acres of dryland with 15.2+/- acres of CRP Land for Sale.

Located in southwest Phillips County, Colorado, the Fryrear property is situated from Paoli, CO, 11 mi SW and/or from Haxtun, CO, 15 to 17 mi SE. The Buyer(s) will have possession of 2018 wheat stubble, possession of 2018 millet stubble after harvest, and 2018 summerfallow to be planted to wheat by tenant in 2018, possession after 2019 harvest. Buyer(s) to receive the landlord’s share of the 2018 millet crop and growing wheat to be planted and harvested in 2019. 100% of the 2018 CRP payments to be conveyed to Buyer(s). CRP contract expires in 2020 with annual payment of $380 at $25.03/ac. 100% of owned mineral rights conveyed to Buyer(s).

Property to be offered in 3 Parcels, 1 Combo, and Single Unit.
Parcel size ranges from 160 acres to 480 acres.

The "CLEO FRYREAR ESTATE DRYLAND AUCTION" is 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 3 Parcels, 1 Combo, and as a Single Unit. The parcels, combo, and Single unit will be offered in the sale order as stated within the brochure.  The parcels, combo, 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 electronic funds transfer or cashier's check (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 August 31, 2018. Closing to be conducted by Phillips County Abstract and the closing service fee to be split 50-50 between Seller and Buyer(s).

TITLE: Seller to pass title by Trustees’ 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. 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. 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: Possession upon closing of stubble after 2018 wheat harvest; millet stubble upon 2018 harvest; 2018 summerfallow to be planted to wheat by tenant in 2018, possession after 2019 harvest.

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.

GROWING CROPS:
Seller to convey to Buyer(s) landlord’s share of growing millet crop to be harvested in 2018 and landlord’s share of wheat crop to be planted fall 2018 to be harvested in 2019. Buyer(s) to accept transfer of indemnity of crop insurance and pay premium at closing. Buyer(s) to reimburse Seller for landlord’s share of fertilizer applied for crops. Buyer(s) is to receive the landlord’s share of crop.

CRP: Seller to convey all rights, title, and interest to the existing CRP contract to the Buyer(s).  Seller to convey the October 2018 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.

FSA DETERMINATION:  FSA base acres and yields to pass with the Parcels, Combo, or Single Unit as designated within the 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.

REAL ESTATE TAXES: 2018 real estate taxes due in 2019, to be prorated to day of closing.

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: 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.

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.


Watch the live simulcast and/or bid online.

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 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 "CLEO FRYREAR ESTATE 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.

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, Contract to Buy and Sell Real Estate (Land). For additional color photos visit the “CLEO FRYREAR ESTATE DRYLAND AUCTION” Visual Tour on our website: www.reckagri.com.

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 its website.

LIVE LAND AUCTION
CLEO FRYREAR ESTATE DRYLAND AUCTION
Thursday, August 2, 2018 – 10:30 am, MT
Reck Agri Auction Center, Sterling, CO

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SOLD: $745,000 for Single Unit $/1,576 per acre.

Quick Facts

  • Cleo Fryrear Estate Dryland Auction No Reserve
  • SUCCESSFUL AUCTION! HIGH BID OF $745,000 for Single Unit, $/1,576 per acre.
  • 480.0+/- total acres
  • 457.3+/- acres dryland
  • 15.2+/- acres CRP
  • Parcel size ranges from 160 acres to 480 acres
  • SW Phillips County, CO
  • From Paoli, CO, 11 mi SW
  • From Haxtun, CO, 15 to 17 mi SE
  • Possession of 2018 wheat stubble
  • Possession of 2018 millet stubble after harvest
  • 2018 summerfallow to be planted to wheat in 2018, possession after 2019 harvest
  • Buyer(s) to receive the Landlord’s share of the 2018 millet crop and growing wheat to planted and harvested in 2019
  • 100% of the 2018 CRP payments conveyed to Buyer(s)
  • CRP contract expires in 2020
  • Annual payment is $380 at $25.03/ac
  • 100% of owned mineral rights to Buyer(s)
  • Offered in 3 Parcels, 1 Combo, and Single Unit