East Morgan County Pasture Auction

Terms & Conditions

SALE DATE/TIME: The East Morgan County Pasture Auction will be held November 18, 2021 at 10:30 am, MT at the Reck Agri Auction Center, Sterling, CO.
OVERVIEW: The Groth family has moved out of state and is offering their 2,000± acre northeast Colorado ranch for sale at auction with NO RESERVE! Located in southeastern Morgan County approximately 12-15± miles southeast of Brush, CO, this contiguous ranch unit features parcels from 320± to 960± acres in size. The unit has multiple domestic/stock wells and cross-fencing into 9 pastures with 3 separate sets of pens for sorting/shipping/working cattle. The multi-parcel auction format allows all bidders the opportunity to participate and purchase pasture units of various sizes. This ranch was not grazed in 2021.
SALE TERMS/PROCEDURE: The “EAST MORGAN COUNTY PASTURE AUCTION” is a land auction with NO RESERVE. The property to be offered as a “multi-parcel” auction 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 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 sign a 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 22, 2021. Closing to be conducted by Northern Colorado Title Company and the closing service fee to be split 50-50 between Seller and Buyer(s).
TITLE: Seller to pass title by Special Warranty Deed free and clear of all liens, encumbrances, special assessments levied or assessed, and subject to all easements, restrictions, and covenants now of record and statutory exceptions. 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 reservation; and other matters affected by title documents shown within the title commitment; and zoning, building, subdivision, and other restrictions and regulations of record.
POSSESSION: Possession of property shall be upon closing.
LEASE: Seller attests there is no lease (verbal or written) and/or any prior lease has been appropriately terminated. Should a tenant claim interest in the property, Seller to stand all costs associated with said termination.
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: Seller to convey all Seller’s water rights, water wells, well permits, and equipment appurtenant to the property, subject to the rules, regulations, and limitations of the Colorado Department of Water Resources and the local groundwater district, if applicable. Wells and/or water rights are being sold AS IS-WHERE IS without warranty or guarantee of any water right matters, pumping rates/adequacy of livestock/domestic/irrigation wells.
REAL ESTATE TAXES: 2021 real estate taxes due in 2022, to be paid by Seller, at 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 & 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 initial Color 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 phone, internet, and/or bidding on someone’s behalf, must be approved by Reck Agri Realty & Auction 24 hours prior to 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.
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 “EAST MORGAN COUNTY PASTURE 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.