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Terms & Conditions
NORMAN COUNTY, MN
TIMED ONLINE LAND AUCTION
Land Located: NE of Halstad, MN & SE of Shelly, MN. From Halstad, MN, 4 miles north on Hwy 75, east 5-1/2 miles on Cty. Road 129.
OPENS: THURSDAY, MARCH 8 AT 8:00AM
CLOSES: THURSDAY, MARCH 8 AT 12:00PM
AUCTIONEER’S NOTE: This accessible farm features 151 acres of Red River Valley Cropland located in the Halstad/Shelly, MN area. This is a fantastic opportunity to add additional acres to your operation for the 2018 growing season and for generations to come!
Norman County, MN – Anthony TWP
- Legal Description: SW ¼ NE ¼ & Gov’t Lots 2, 3, & 4 Section 6-145-47
- Deeded Acres: 157.50+/-
- Cropland Acres: 151+/-
- Productivity Index: 80
- Taxes (2017): $2,914
TERMS: Ten percent down upon signing purchase agreement with balance due at closing in 45 days.
For a detailed Buyer’s Prospectus with complete terms and conditions contact Max Steffes at Steffes Group, 701.237.9173 or 701.212.2849
Eleanor Snustad Trust, Owner
Norman County, MN Land Buyer's Prospectus
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TERMS & CONDITIONS.
The Terms and Conditions of Sale are set forth upon this page in this Buyer’s Prospectus and the Earnest Money Receipt and Purchase Agreement. The information set forth is believed to be accurate. However, the owner of the properties and Steffes Group make no warranties or guaranties expressed or implied. Information contained in this document was collected from sources deemed to be reliable and is true and correct to the best of the writer’s knowledge. Auctioneers and owners will not be held responsible for advertising discrepancies or inaccuracies.
All ANNOUNCEMENTS ON AUCTION DAY TAKE PRECEDENCE OVER PREVIOUSLY ADVERTISED INFORMATION.
Prospective buyers are advised to consult with an attorney of their choice with respect to the purchase of any real property including but not limited to, seeking legal advice from their own attorney regarding disclosures and disclaimers set forth below.
SPECIFIC TERMS FOR ONLINE ONLY AUCTION
This is an online only auction with no buyer’s premium.
Steffes Group along with their employees are seller’s agents and are licensed in the state where the property is located. We strongly recommend buyers secure buyer representation, at their expense, in all real estate transactions.
Bid placed within the last 4 minutes of the auction will extend the auction an additional 4 minutes. Bid extensions continue and auction does not end until there are no bids for 4 minutes.
This property sells for cash with no owner financing. Bidders must have financing secured prior to bidding. The sale of this property IS NOT contingent on the bidder securing financing.
The auction begins at 8:00AM and will end at 12:00PM Thursday, March 8, 2018.
All bidders must register with SteffesGroup.com as an online bidder to participate in the auction.
All bidders must register their name, address and telephone number in order for your bidding number to be approved.
The successful bidder will be required to sign an Earnest Money Receipt and Purchase Agreement at the close of the real estate auction. A total deposit of 10% of the purchase price will be required. Those funds will be placed in a Real Estate Trust Account as good faith money until closing.
The contract signing will take place at Steffes Group, 2000 Main Avenue East, West Fargo ND.
If the winning bidder is unable to come to the Steffes office for signing of the contract, contact Max Steffes 701.237.9173. Arrangements will be made to email or fax a copy of the contract for signature. The buyer would fax the signed copy back to 701.237.0976 or send a scanned copy by email.
Purchasers who are unable to close because of insufficient funds will be in default and the deposit money will be forfeited. Balance of the purchase price must be paid in full with cashier’s check at closing on or before Friday, April 20, 2018.
Closing will take place at a professional closing company agreeable to both buyer and seller.
Seller will provide up-to-date-date abstract(s) at their expense and will convey property by Warranty Deed.
2017 taxes to be paid by SELLER. 2018 taxes to be paid by BUYER. Subsequent taxes and or special assessments, if any, to be paid by buyer. Real Estate Taxes are subject to reassessment under new owner.
Closing Agent Fee will be shared equally between Buyer and Seller.
The auction sale is for registered bidders and their guests. All bidding is open to the public and the property is offered for sale to qualified purchasers without regard to sex, race, color, religion, natural origin or handicap.
Please note the bidding will not close and property will not be sold until everyone has had the opportunity to make his or her highest and best bid.
The minimum bid raise will be $1,000.00
THE PROPERTY WILL BE SOLD AS IS WITH NO WARRANTIES EXPRESSED OR IMPLIED.
THE PROPERTY WILL BE SOLD SUBJECT TO SELLER CONFIRMATION.
PROPERTY SOLD WITHOUT WARRANTY
EASEMENTS AND SURVEY
Purchasing the property.
Purchasing the property at a price you can afford.
How is this accomplished?
Estimate comparative value.
Experienced buyers always decide what to pay before the bidding begins.
Inspect the property carefully.
Compare with other properties available in the area.
Check the selling price of previously sold properties.
Discuss your buying plans with a lender. Have your financing arrangements made in advance.
This sale is not subject to financing.
AVOID OVER OR UNDER BIDDING
Always bid on a property toward a price.
Establish that price before the bidding begins. By doing this you will avoid getting caught up in the auction excitement and pay a price that is too high for the market or one that you cannot afford. It will also make you confident to bid to your established fair market value. Many bidders who do not plan ahead end up with regrets after the auction because they were too nervous or uncertain about their judgment to bid.
THE BIDDING STRATEGY
Research and know the value of the property.
Have your financing arranged before the auction.
Establish your highest and best bid before the bidding begins.
Make your bids promptly to force other bidders up or out without delay.
Place your bid:
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