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Wernsman (Willard) Land Auction SUCCESSFUL AUCTION

1,825.8+/- ac total; expired CRP, CRP, pasture, dryland and improvements - SW Logan County, CO

Description

SUCCESSFUL AUCTION! HIGH BIDS TOTALING $1,577,500

East Unit: Dryland, Pasture & CRP_ $610,000 or $979 per acre

Parcel #3: Improvements_ $140,000

West Unit: Expired CRP_ $710,000 or $656 per acre

Parcel #6: CRP_ $117,500  or $1,030 per acre

See Color Brochure, Visual Tour, Google Map and Digital Brochure below Quick Facts...

The Wernsman family is offering 1,825.8+/- acres of Colorado land for sale at auction.  The Wernsman property is located from Sterling, CO, 16+/- mi SW; from Atwood, CO, 8+/- mi to 9+/- mi W; and from Willard, CO, 1/2+/- mi E to 7+/- mi E in southwest Logan County, Colorado. The Wernsman  property includes 210.7+/- ac dryland, 1,007.4+/- ac expired CRP (may be farmed or grazed), 402.3+/- ac CRP, 150.5+/- ac pasture 48.3+/- ac grass/rds, and 6.6+/- ac improvement site, home, grain storage, machine shop. This auction provides an opportunity for Buyer(s) to purchase a variety of properties with multiple uses. The Buyer(s) will have spring possession of expired CRP, CRP, improvements, pasture, & wheat stubble. 100% of the 2017 CRP payments to be conveyed to Buyer(s). 2 CRP contracts expire in 2023 and 1 CRP contract expires in 2020. Annual CRP payments range from $23.33/ac to $39.15/ac. Seller reserves 50% owned minerals for 15 years. Landlord share of growing wheat to Buyer(s). Property is being offered for sale in 10 Parcels, 4 Combos, East Unit and West Unit. Parcel size being offered for sale range from 6.6+/- ac for improvements, 82+ acres, 160+ acres, 240+ acres, 313+ acres, 451+ acres, 622+ acres and 1,081+ acres for expired CRP, CRP, pasture and dryland.

PARCEL #1A – DRYLAND: 82.6+/- ac dryland; Legal: A parcel in the SW1/4 of 14, T7N, R54W, Logan Cty, CO; Location: From Sterling, CO, 7 mi W on Hwy #14 to CR 25, 3.5 mi S to CR 20.5, 1.6 mi W to NE corner of property; Class III & IV soils; 30.0+/- ac growing wheat, 52.6+/- ac stubble; FSA base: 83.6 ac wheat w/34 bu PLC yield; R/E Taxes: $215.80.

PARCEL #1B – DRYLAND & CRP: 142.5+/- ac; 128.1+/- ac dryland, 13.4+/- ac CRP; Legal: A parcel in the SE1/4 of 22, T7N, R54W, Logan Cty, CO; Location: From Sterling, CO, 7 mi W on Hwy #14 to CR 25, 5 mi S to CR 18, 2 mi W to SE corner of property; Class III & IV soils; 57.0+/- ac growing wheat, 71.1+/- ac stubble; CRP Contract #2439B  w/annual payment of $450 @ $33.62/acre; Contract expires 9/30/2023; FSA base: 128.1 ac wheat w/34 bu PLC yield; R/E Taxes: $371.80.

COMBO #1 (PARCELS #1A & #1B) – DRYLAND & CRP: 225.1+/- ac; 210.7+/- ac dryland, 13.4+/- ac CRP, 1+/- ac rds; 87+/- ac growing wheat, 123.7+/- ac stubble; CRP Contract #10327  w/annual payment of $450 @ $33.62/acre; FSA base: 210.70 ac wheat w/34 bu PLC yield; R/E Taxes: $587.60.

PARCEL #2A – PASTURE:
150.5+/- ac pasture; Legal: A parcel in the W1/2 of 23, T7N, R54W; Location: From Sterling, CO, 7 mi W on Hwy #14 to CR 25, 5 mi S to CR 18, 1.5 mi W to SE corner of property. L/S is provided by pump jack; R/E Taxes: $161.70.

PARCEL #2B - CRP: 247.9+/- ac CRP; Legal: A parcel in the SW1/4 of 14 & W1/2 of 23, T7N, R54W, Logan Cty, CO; Location: From Sterling, CO, 7 mi W on Hwy #14 to CR 25, 3.5 mi S to CR 20.5, 2 mi W, 1/4 mi S to NW corner of property; Class IV soils; CRP Contract #2439B  w/annual payment of $8,335 @ $33.62/acre; Contract expires 9/30/2023; 2017 R/E taxes: $431.10.

COMBO #2 (PARCELS #2A & #2B) – PASTURE & CRP: 398.4+/- ac; 247.9+/- ac CRP, 150.5+/- ac pasture; CRP contract w/annual payment of $8,335 @ $33.62/acre; L/S water via pump jack; R/E Taxes: $592.80.

EAST UNIT (PARCELS #1A, #1B, #2A & #2B) DRYLAND, PASTURE & CRP: 623.5+/- ac; 210.7+/- ac dryland, 261.3+/- ac CRP, 150.5+/- ac pasture, 1.0+/- ac rds; 87.0+/- ac growing wheat, 123.7+/- ac stubble; 2 - CRP contracts w/annual payment of 8,785 @ $33.62/acre; FSA base: 210.70 ac wheat w/34 bu PLC yield; L/S is provided by pump jack; R/E Taxes: $1,180.40.

PARCEL #3 – IMPROVEMENTS: 6.6+/- ac; Legal: A parcel in the SW1/4 of 14, T7N, R54W, Logan Cty, CO; Location: From Sterling, CO, 7 mi W on Hwy #14 to CR 25, 3.5 mi S to CR 20.5, 1.5 mi W to NE corner of property; 1,036 sq ft, 4 bed, 1 bath home, 40’ x 48’ metal building w/cement floor; 2 - 25,000 bu grain bins w/pits & air; R/E Taxes: $703.00.

PARCEL #4A – EXPIRED CRP: 160.0+/- ac; 156.4+/-ac expired CRP, 3.4+/- ac rds/grass; Legal: SW1/4 of 19, T7N, R54W, Logan Cty, CO; Location: From Sterling, CO, 7 mi W on Hwy #14 to CR 25, 5 mi S to CR 18, 5.5 mi W to SE corner of property; Class III & IV soils; FSA base: 81 ac wheat w/34 bu PLC yield; 27.5 ac corn w/25 bu PLC yield; 3.9 ac grain sorghum w/24 bu PLC yield; R/E Taxes: $334.40.

PARCEL #4B – EXPIRED CRP: 291.9+/- ac; 289.4+/- ac expired CRP, 2.5+/- ac rds/grass; Legal: E1/2 of 19, T7N, R54W, Logan Cty, CO; Location: From Sterling, CO, 7 mi W on Hwy #14 to CR 25, 5 mi S to CR 18, 4 mi W to SE corner of property; Class II & IV soils; FSA base: 149.7 ac wheat w/34 bu PLC yield; 50.9 ac corn w/25 bu PLC yield; R/E Taxes: $610.07.

COMBO #4 (PARCELS #4A & #4B) – EXPIRED CRP: 451.9+/- ac; 446.0+/- ac expired CRP, 5.9+/- ac rds/grass; FSA base: 230.7 ac wheat w/34 bu PLC yield; 78.5 ac corn w/25 bu PLC yield, 3.9 ac grain sorghum w/24 bu PLC yield; R/E Taxes: $944.47.

PARCEL #5A – EXPIRED CRP: 315.4+/- ac; 309.9+/- ac expired CRP, 5.5+/- ac rds/grass; Legal: S1/2 of 20, T7N, R54W, Logan Cty, CO; Location: From Sterling, CO, 7 mi W on Hwy #14 to CR 25, 4 mi S to CR 18, 5 mi W to SE corner of property; Class IV soils; FSA base: 160.3 ac wheat w/34 bu PLC yield; 54.5 ac corn w/25 bu PLC yield; R/E Taxes: $659.60.

PARCEL #5B – EXPIRED CRP: 313.8+/- ac; 251.5+/- ac expired CRP, 26.4+/- ac CRP, 35.9+/- ac rds/grass; Legal: NE1/4 of 20, and SE1/4 of 17, T7N, R54W, Logan Cty, CO; Location: From Sterling, CO, 7 mi W on Hwy #14 to CR 25, 4 mi S to CR 18, 7 mi W to CR 13, 1.5 mi N to CR 20.5,  2.5 mi E to NE corner of property; Class III, IV, & VI soils; FSA base: 130.1 ac wheat w/34 bu PLC yield; 44.2 ac corn w/25 bu PLC yield; R/E Taxes: $656.80.

COMBO #5 (PARCELS #5A & #5B) – EXPIRED CRP: 629.2+/- ac; 561.4+/- ac expired CRP, 26.4+/- ac CRP, 41.4+/- ac rds/grass; FSA base: 290.3 ac wheat w/34 bu PLC yield; 98.7 ac corn w/25 bu PLC yield; R/E Taxes: $1,316.40.

WEST UNIT (PARCELS #4A, #4B, #5A & #5B) – EXPIRED CRP: 1,081.1+/- ac; 1,007.4+/- ac expired CRP, 26.4+/- ac CRP, 47.3+/- ac rds/grass; FSA base: 521 ac wheat w/34 bu PLC yield; 177.2 ac corn w/25 bu PLC yield; R/E Taxes: $2,260.87.

PARCEL #6 - CRP: 114.6+/- ac CRP; Legal: A parcel in the S1/2S1/2 of 9 & SW1/4SW1/4 of 10, T7N, R54W, Logan Cty, CO; Location: From Sterling, CO, 7 mi W on Hwy #14 to CR 25, 5 mi S to CR 18, 3 mi W to CR 19, 2 mi N to SE corner of property; Class III & IV soils; CRP Contract #10288 w/annual payment of $4,487 @ $39.15/acre; Contract expires 9/30/2023; R/E taxes: $268.74.

SALE TERMS/PROCEDURE: The "WERNSMAN (WILLARD) LAND AUCTION" is a land auction with no reserve for all parcels except Parcel #3. Seller reserves the right to accept or reject bids below the reserve bid of $100,000 for Parcel #3. Property to be offered in 10 Parcels, 4 Combos, East Unit, and West Unit. The Parcels, Combos, East Unit and West Unit will be offered in the sale order as stated within the brochure.  The Parcels, Combos, East Unit, and West Unit will compete to determine the highest 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 for all parcels except Parcel #3 and 5% of the purchase price for Parcel #3. Said earnest money 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 June 2, 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 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 Contract to Buy and Sell Real Estate (Land).

POSSESSION: Possession of growing wheat upon completion of 2017 harvest. Possession of CRP upon closing. Possession of improvement site 14 days after closing. Possession of wheat stubble and expired CRP is as follows: Upon signing of contract and the earnest money clearing, Buyer(s) may enter onto the wheat stubble and expired CRP and complete the necessary fieldwork to plant crops. Any completion of fieldwork and planting of crops does not constitute a farm lease. If Buyer(s) defaults and doesn’t close, all fieldwork, crop expenses, and earnest money is forfeited to Seller. If closing does not occur due to the default of Seller, Seller to reimburse Buyer(s) for fieldwork completed at custom rates and invoiced crop expenses.

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.

GROWING CROPS: Seller to convey to Buyer(s) landlord’s share of wheat currently planted. Buyer(s) to accept transfer of indemnity of crop insurance and pay premium at 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 2017 CRP payments. 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, Combos, East Unit or West 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:
2017 real estate taxes due in 2018, 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. If the property sells in parcels and/or combos 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 shall reserve an undivided 50% interest of any oil, gas, and other minerals Seller may own, for a period of 15 years from the date of
the recording of its Deed to Buyer(s), and so long thereafter as oil, gas, or other minerals are being produced in paying quantities from the property.

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.

MULTIPLE PARTY BID: If several parties go together and collectively bid on parcel(s) and the Multiple Party Bid is the highest bid, at the conclusion of the auction each party within the Multiple Party Bid shall identify and agree to sign separate contract(s), pay for their respective separate parcel(s) at closing, and pay for a metes & bounds survey and additional title insurance premium to create the legal description for their respective separate parcel. The collective purchase prices for the separate parcels shall equal the total Multiple Party Bid. This paragraph will not be included in the color brochure, but will be included in the Detail Brochure.

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 Transactional 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 "WERNSMAN (WILLARD) 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. Bidder increments are at the discretion of the Broker.

THIS AUCTION IS A LIQUIDATION OF PROPERTY OWNED BY LE SEVEN LIMITED PARTNERHIP. MEMBERS OF THE PARTNERSHIP AND/OR FAMILY MEMBERS RESERVE THE RIGHT TO BID AT THE AUCTION.

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 “WERNSMAN (WILLARD) 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.

Reck Agri Office

WERNSMAN (WILLARD) LAND AUCTION
AUCTION DATE/TIME: Tuesday, May 2, 2017 – 10:30 am, MT
LOCATION:  Reck Agri Auction Center, Sterling, CO

 Reck Agri Auction Center, Sterling, CO  Auction Location Map 

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Land Auction - High Bids $1,577,500

Quick Facts

  • Wernsman (Willard) Land Auction
  • Successful Land Auction!
  • High Bids totaling $1,577,500
  • 1,825.8+/- ac total
  • 210.7+/- ac dryland
  • 1,007.4+/- ac expired CRP (may be farmed or grazed)
  • 402.3+/- ac CRP
  • 150.5+/- ac pasture
  • 48.3+/- ac grass/rds
  • 6.6+/- ac improvement site, home, grain storage, machine shop
  • SW Logan County, CO
  • From Sterling, CO, 16+/- mi SW
  • From Atwood, CO, 8+/- mi to 9+/- mi W
  • From Willard, CO, 1/2+/- mi E to 7+/- mi E
  • Seller reserves 50% owned minerals for 15 yrs
  • L/L share of growing wheat to Buyer
  • Spring possession of expired CRP, CRP, improvements, pasture, & wheat stubble
  • Offered in 10 Parcels, 4 - Combos, East Unit & West Unit
  • 100% of the 2017 CRP payments to Buyer
  • 2 CRP contracts expire in 2023, 1 CRP contract expires 2020
  • Annual payments range from $23.33/ac to $39.15/ac
  • Parcel size being offered for sale range from 6.6+/- ac for improvements, 82.6+/- ac, 160+/- ac, 240+ac, 313+ ac, 451+ac, 622+ac and 1,081.1+/- ac for expired CRP, CRP, pasture and dryland.