Auction Information
960 ACRES GOVE & SHERIDAN CO, KS CROPLAND AND GRASS
LEGAL DESCRIPTIONS:
TRACT 1: W/2 OF SECTION 18-10-26
TRACT 2: SE/4 OF SECTION 24-11-27
TRACT 3: All the grass acres in NE/4 OF
SECTION 34-11-27
TRACT 4: All of the cropland acres in NE/4 OF SECTION 34-11-27
TRACT 5: W/2 OF SECTION 17-12-27
MANNER OF SALE: This real estate will be offered as a MULTI-PARCEL auction in 5 individual tracts and in combination of tracts. It will be sold in the manner that produces the highest aggregate bid. There will be OPEN BIDDING on all tracts and combinations of tracts during the auction as determined by the auction company. Bids on tracts, tract combinations, and the total property may compete. Auction procedure and increments of bidding are at the discretion of the auction company
TERMS: 10% down day of sale, with the balance to be paid on or before December 19, 2014, or upon such terms as may be acceptable to the Seller. Personal and corporate c...
TERMS: 10% down day of sale, with the balance to be paid on or before December 19, 2014, or upon such terms as may be acceptable to the Seller. Personal and corporate checks are acceptable for the down payment with the final payment to be made in certified funds. All funds will be held by an identified title/escrow company. Bidding is not contingent upon financing. Financing, if necessary, needs to be arranged and approved prior to the auction. Announcements made day of sale take precedence over all printed material and previously made oral statements.
MINERAL RIGHTS: Buyer WILL RECEIVE 25% of the mineral rights at closing. Seller will retain 75% of the mineral rights perpetually.
CROPS: Tenants will retain 100% of the 2015 wheat crop under the current cash lease agreements.
FSA INFORMATION: Any FSA farm program payments associated with the 2014 and future crop years under the 2014 farm bill will be subject to FSA program elected provisions at the time of signup. Seller and/or Tenants will retain any payments associated with the 2014 crop year, and Buyer will receive the landlords share, if any, of any payments associated with the 2015 and future crop years. See chart below for estimated FSA base acres & yields.
CLOSING: Closing will be on or before December 19, 2014.
POSSESSION: Date of closing on the open cropland and grass acres, and after the 2015 wheat harvest or August 1, 2015, whichever date occurs first, on the acres planted to wheat.
REAL ESTATE TAXES: Seller will pay taxes for 2014 and prior years. See chart below for 2013 taxes.
EVIDENCE OF TITLE: Seller will provide title insurance to the Buyer(s) in the amount of the purchase price with the premium to be paid one-half by the Buyer(s) and one-half by the Seller. Title evidence will be provided on sale day.
ACCEPTANCE OF BIDS: The successful bidder(s) will be required to enter into a real estate purchase contract immediately following the auction. Copies of the contract will be available from the auction company prior to the sale.
ACREAGES: Acreage figures are considered to be approximate and are from reliable sources based on (USDA) FSA figures. All FSA information is subject to change, including but not limited to the number of cropland acres, grass acres, base acreages and yields. FSA acres may not be the same as deeded acres or county appraiser acres. Acreages are not covered by title insurance.
INSPECTIONS: Each potential bidder is responsible for conducting their own independent inspections and due diligence concerning pertinent facts about the property. Neither Seller or Farm & Ranch Realty, Inc., its agents or representatives, are making any warranties about the property, either expressed or implied.
EASEMENTS: This sale is subject to all rights-of-ways and easements, whether recorded or not, and to oil and gas leases of record, if any.
AGENCY: Farm & Ranch Realty, Inc., its agents and representatives, are the Exclusive Agents of the Seller.
AUCTIONEERS NOTE: GREAT LAND CLOSE TO QUINTER, KANSAS AND I-70. The Flora family will again offer property for sale at absolute public auction. These farms are in a very strong farming community and have continuously had good yields.
Contact NEAL MANN for further information and details about this land auction at 785-635-2102. We are looking forward to seeing you at Quinter on Friday, November 21st!
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