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M & M Real Estate LLC Land AuctionSUCCESSFUL AUCTION

Details

Tuesday, February 27, 2018
Country Inn, Sidney, NE
1,301+/- Acres Dryland & Pivot Irrigated - Cheyenne & Morrill Counties, NE

Description

SUCCESSFUL AUCTION RESULTS!  SOLD! 3-29-2018  

AUCTION TRACT    HIGH BID    PP/AC 
Parcel #1        $830,000        $1,591    
Parcel #2A     $340,000         $1,052    
Parcel #2B     $245,000            $825    
Parcel #3        $140,000           $870    

Total Auction Bid of $1,555,000   

PARCEL #1 - PIVOT IRRIGATION DESCRIPTION: 248.3+/- acres pivot irrigated, 248.5 South Platte NRD certified acres with 2018 remaining allocation of 31.64 inches; Irrigation well permit #G-90006; 2 – 7 tower Valley pivots with 100 hp GE electric motor & pump.

OVERVIEW: M & M Real Estate LLC Land Auction is offering their 1,301.8+/- acres of Nebraska land for sale at auction. The property being offered for sale includes 1,019.1+/- acres dryland, 248.3+/- acres pivot irrigated, 6.4+/- acres expired CRP, and 28.0+/- acres rds/grass. The parcels are located 12 - 15 mi W of Dalton, NE in NW Cheyenne & SW Morrill Counties. Possession of wheat stubble and pivots is upon closing and possession of growing wheat is upon 2018 harvest. 534.5+/- acres is planted to Clearfield wheat and the landlord share of growing wheat to be conveyed to Buyer(s). 490.8+/- acres is wheat stubble. 248.3+/- acres is irrigated by 2 Valley pivots with one irrigation well. There are 248.5 certified South Platte NRD acres with 31.64” remaining within the 2018 allocation. The dryland soils are predominantly Class II & III soils with the pivot irrigated soils being predominantly Class I with areas of Class II. The M & M Real Estate, LLC property will be offered in 4 Parcels, 1 Combo, N Dryland Unit, and Single Unit. The improvement site on the property is subject to a life estate. This property is situated in the highly productive area known as the Dalton Table.   


Watch the live simulcast and/or bid online.

SALE TERMS/PROCEDURE: The M & M REAL ESTATE LLC LAND AUCTION is a land auction with RESERVE. The M & M Real Estate LLC property to be offered as a "MULTI PARCEL" Auction in 4 Parcels, 1 Combo, North Dryland Unit, and as a Single Unit. The parcels, combo, north dryland unit, and single unit will be offered in the sale order as stated within the brochure. The parcels, combo, north dryland unit, 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 AGREEMENT: Immediately following the conclusion of the auction, the highest bidder(s) will sign Disclosure of Brokerage Relationships in Real Estate Transactions and will enter into and sign a Farm, Ranch, and Land Purchase Agreement 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. Said earnest money is due upon the signing of the Farm, Ranch, and Land Purchase Agreement and to be deposited with Reck Agri Realty & Auction. Farm, Ranch, and Land Purchase Agreement 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 Farm, Ranch, and Land Purchase Agreement. Sample Farm, Ranch, and Land Purchase Agreement 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 March 30, 2018. Closing to be conducted by Cheyenne County Title 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 minerals reserved by Seller as shown within these Terms and Conditions; 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 Farm, Ranch, & Land Purchase Agreement.

POSSESSION:
Possession of dryland wheat stubble and pivot irrigated upon closing, possession of growing wheat upon July 2018 harvest, possession of improvement site subject to life estate.

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 for irrigation. Each of the wells are subject to the rules, regulations, and limitations of the Nebraska Department of Natural Resources and the South Platte Natural Resource District. Water  rights are being sold AS IS-WHERE IS without warranty or guarantee of any water right matters, pumping rates or adequacy of irrigation well, and/or condition of all irrigation equipment.

GROWING CROPS: Seller to convey to Buyer(s) landlord share of wheat (Clearfield) currently planted. Buyer(s) to accept transfer of indemnity of crop insurance and pay premium at closing.

REAL ESTATE TAXES:  2018 Real Estate Taxes due in 2019 to be paid by Buyer(s).
 
FSA DETERMINATION:
FSA base acres and yields to pass with the Parcels, Combo, North Dryland Unit, 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.

LEGAL DESCRIPTION: Legal descriptions are subject to existing fence/field boundaries or land-use trades, if any.

MINERALS:
Seller to reserve 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 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 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 Limited Seller’s Agent. 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 M & M REAL ESTATE LLC 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.

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, Farm, Ranch, & Land Purchase Agreement. For additional color photos visit the M & M REAL ESTATE LLC LAND 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.

M & M Real Estate LLC Land Auction w/reserve
Tuesday, February 27, 2018 – 10:30 a.m., MT
Country Inn & Suites, Sidney, NE

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SOLD!! Total Auction Bid of $1,555,000

Quick Facts

  • M & M Real Estate LLC Land Auction w/reserve
  • Tuesday, February 27, 2018 – 10:30 a.m., MT
  • Country Inn & Suites, Sidney, NE
  • SOLD!
  • Total Auction Bid of $1,555,000
  • 1,301.8+/- total acres
  • 1,019.1+/- acres dryland
  • 248.3+/- acres pivot irrigated
  • 6.4+/- acres expired CRP
  • 28.0+/- acres rds/grass
  • 4 Parcels – 1 Combo – North Dryland Unit - Single Unit
  • NW Cheyenne County, NE & SW Morrill County, NE
  • Located 12 - 15 mi W of Dalton, NE
  • Possession of wheat stubble & pivots upon closing
  • Possession of growing wheat upon 2018 harvest
  • 534.5+/- acres growing wheat
  • L/L share of growing wheat to Buyer(s)
  • 490.8+/- acres wheat stubble
  • 2 Valley pivots with 1 irrigation well
  • 248 certified acres South Platte NRD – 31.64” remaining 2018 allocation
  • Dryland soils - predominantly Class II & III soils
  • Pivot Irrigated soils - predominantly Class I with some Class II soils
  • Offered in 4 Parcels, 1 Combo, N Dryland Unit, Single Unit