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Lew Sindt Estate Land AuctionONLINE-ONLY AUCTION

Details

Friday, November 3, 2017 @12:00 pm MT
ONLINE - ONLY LAND AUCTION
671+/- acres of CRP with 4 wind turbines - Logan County, CO

Description

ONLINE BIDDING INFORMATION MEETING
Wednesday, November 1, 2017 @ 10:30 am, MT
@ Reck Agri Auction Center, Sterling, CO


ONLINE ONLY LAND AUCTION
LEW SINDT ESTATE LAND AUCTION

Bidding begins: 11/3/2017 at 8:00 am, MT
Bidding closes: 11/9/2017 at 12:00 noon, MT

671+/- acres of CRP with 4 wind turbines to be offered for sale by an ONLINE ONLY AUCTION. The Sindt property is located 9 – 11 miles west of Peetz, CO in northwest Logan County, CO. This property offers a unique investment opportunity with CRP and income generated from 4 wind turbines. Parcel size ranges from 109+/- acres to 241+/- acres. CRP payments range from $32.32/acre to $45.79/acre and contracts expire in 2018, 2022, & 2023. Possession of the property upon closing except for possession of the improvements 30 days after closing. Buyer(s) to receive the CRP payment due in October 2018.  Wind turbine payments to be prorated to the day of closing. Property to be offered in 4 individual parcels.

BIDDING PROCEDURE:
This ONLINE ONLY AUCTION is for property known as the LEW SINDT ESTATE PROPERTY and will be offered as 4 individual parcels. BIDDING WILL OCCUR ONLINE ONLY. Online bidding will begin @ 8:00 am MT on November 3, 2017. The auction will “soft close” @ 12:00 noon, MT on November 9, 2017. Bidding will continue in 5 minute increments until 5 minutes have passed with no new bids.
To bid at the online auction:

  1. Download our RECK AGRI MOBILE APP through the App Store.
  2. Register to bid on the RECK AGRI MOBILE APP or visit the Lew Sindt Estate Land Auction property page at www.reckagri.com.  
  3. Potential bidders must review and agree to the terms and conditions of the detail brochure.
  4. Your registration must be approved by Reck Agri Realty & Auction before you may bid.
  5. If you have questions regarding the bidding process and registration, call Reck Agri Realty & Auction at 970-522-7770.

Online Bidding Information Meeting will be held November 1, 2017, 10:30 am MT at Reck Agri Auction Center, Sterling, Colorado.

SALE TERMS/PROCEDURE:
The "LEW SINDT ESTATE LAND AUCTION" is an ONLINE ONLY AUCTION with RESERVE. The Lew Sindt Estate property to be offered in 4 individual parcels. Competitive bids will determine the outcome of the 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 closing 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 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 electronic transfer funds 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 December 8, 2017. Closing to be conducted by Stewart Title of Sterling 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). 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 of CRP and grass upon closing. Possession of improvements on Parcel #4, 30 days after 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: Buyer(s) shall receive whatever interest, if any, Seller has in any water rights appurtenant to the property.

WIND TURBINES: Seller to transfer all their right, title and interest to 4 wind turbines located on the property. 2017 wind turbine payments to be prorated to the day of closing.

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 2018 CRP payment. 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. Buyer(s) and Seller, at closing, to sign a memorandum of understanding stating the CRP acres as designated within the detail brochure.

REAL ESTATE TAXES:
2017 real estate taxes due in 2018, to be prorated to day of closing.

LEGAL DESCRIPTION:
Legal descriptions are subject to existing fence/field boundaries or land-use trades, if any. If the property sells in parcels and a survey is required to create a metes and bounds legal description, Seller to provide and pay for said survey. Seller & Buyer(s) agree that closing may be extended up to 30 days if necessary to complete said survey.

MINERALS: Seller reserving all of the OWNED 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 and detail brochure 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 during the auction.

BIDDER REQUIREMENTS: Requirements for Buyer(s) to be approved to bid online: 1.) Review and agree to the terms and conditions of the detail brochure; and 2.) Provide Reck Agri Realty & Auction verification of available funds to purchase the property and/or bank loan approval letter with no contingencies. Reck Agri Realty & Auction reserves the right to refuse registration to bid and/or bids from any bidder. Bidder increments are at the discretion of the Broker. Detail Brochure may be obtained by visiting Lew Sindt Estate Land Auction property page at www.reckagri.com or by calling Reck Agri Realty & 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 prior to the close of online bidding will take precedence over any previously printed material or other statements. Reck Agri Realty & Auction does not offer broker participation for the “LEW SINDT ESTATE LAND AUCTION”.

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.

ONLINE ONLY LAND AUCTION
LEW SINDT ESTATE LAND AUCTION

Bidding begins:11/3/2017 at 8:00 am, MT
Bidding closes:11/9/2017 at 12:00 noon, MT
CLICK HERE TO BID

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Quick Facts

  • “LEW SINDT ESTATE LAND AUCTION" with RESERVE
  • Bidding Begins: November 3, 2017 @ 8 am MT
  • Bidding Closes: November 9, 2017 @ 12 noon MT
  • 671+/- acres
  • 468+/- acres CRP
  • 203+/- acres grass and improvement site
  • 9 – 11 miles west of Peetz, CO in NW Logan County
  • Possession of CRP upon closing
  • Possession of improvements 30 days after closing
  • 115.4+/- acres CRP @ $32.32/ac, $3,730 annual pymt, expires 9/30/18
  • 123.7+/- acres CRP @ $45.79/ac, $5,664 annual pymt, expires 9/30/23
  • 228.9+/- acres CRP @ $37.58/ac, $8,602 annual pymt, expires 9/30/22
  • Seller to convey CRP payments due in October 2018
  • 4 wind turbines, payments to be prorated to the day of closing
  • Property to be offered in 4 individual parcels.
  • ONLINE BIDDING INFORMATION MEETING
  • Wednesday, November 1, 2017 @ 10:30 am, MT
  • @ Reck Agri Auction Center, Sterling, CO