Auction Information
1040 ACRES SHERMAN & THOMAS CO, KS IRR & DRYLAND CROPLAND WITH IMPROVEMENTS
LEGAL DESCRIPTIONS:
THOMAS COUNTY:
TRACT 1: E/2 of 7-10-36
TRACT 2: W/2 of 7-10-36, less two tracts
TRACT 3: 16.6+ tract in W/2 of 7-10-36, including improvements, domestic well, and bins
SHERMAN COUNTY:
TRACT 4: E/2SW/4 & SE/4 of 2-10-37
TRACT 5: NE/4 of 10-10-37
SELLERS: Heirs of Marilyn Selby Estate
MANNER OF SALE: This real estate will be offered as a MULTI-PARCEL auction in 5 individual tracts and in combinations 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 individual 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 March 3, 2015, or upon...
TERMS: 10% down day of sale, with the balance to be paid on or before March 3, 2015, or upon such terms as may be acceptable to the Sellers. 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 printed material and previously made oral statements.
MINERAL RIGHTS: All of the Sellers interest will transfer to the Buyer(s) at closing.
CROPS: All of the 2015 wheat will go the Buyer(s). There is growing wheat on Tracts 4 and 5 and 100% of the crop goes to the Buyer(s). See chart below.
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. All 2015 FSA payments will go to the Buyer(s). See chart below for FSA base acres and yields.
CLOSING: Closing will be on or before March 3, 2015.
POSSESSION: Date of closing on ALL TRACTS. IMMEDIATE POSSESSION TO THE BUYER(S)
REAL ESTATE TAXES: Sellers will pay taxes for 2014 and prior years. See chart below for 2014 taxes.
SURVEY: In the event Tracts 1, 2, or 3 sell separately, Sellers will provide surveys where necessary to provide title insurance, access and right-of-way easements, and to convey title to Buyer at closing.
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.
ACCEPTANCE OF BIDS: The successful bidders will be required to enter into a real estate purchase contract immediately following the auction. Copies of the contracts will be available from the auction company prior to the sale.
EVIDENCE OF TITLE: Sellers 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 Sellers. Title evidence will be provided on sale day.
INSPECTIONS: Each potential bidder is responsible for conducting their own independent inspections and due diligence concerning pertinent facts about the property. Neither Sellers nor 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-way and easements, whether recorded or not, and to any oil and gas lease of record.
AGENCY: Farm & Ranch Realty, Inc., its agents and representatives, are the Exclusive Agents of the Sellers.
AUCTIONEERS NOTE: Selby Farms, L.L.C. is located 11 miles South of Brewster, Kansas on the Thomas/Sherman County line. It has been in the family for many years and the Selby Family will offer this EXCELLENT CROPLAND for sale at ABSOLUTE PUBLIC AUCTION on Tuesday, FEBRUARY 3RD at the City Limits Convention Center in Colby.
The farm is all cropland and the parcels are set out above. Tract 1 has two irrigation pivots with one irrigation well. Western Sprinklers performed a well test (the well pump 650 GPM) and the results are available on our website. Tract 2 is dryland cropland. Tract 3 is a 15+ acre tract with a modest set of improvements including a modern house, small shop building, large grain storage building, along with supporting outbuildings, livestock pens, two 10,000 bushel grain bins and a fabulous windbreak! The home may be viewed by calling Farm & Ranch Realty, Inc. to schedule an appointment!
TRACT 3 - IMPROVEMENTS
There are approximately 15.5 acres located in the SW/4 of Section 7-10-36 that includes an approximately 1,419 sq. ft. home with 3 bedrooms, 1 bath, and a basement. This tract also includes a 72x50 shop building, 80x40 storage building, a 40x20 shop/garage, livestock pens, domestic well, and two 10,000 bushel grain bins.
IRRIGATION INFORMATION
There is an irrigation well covered under Water Right File #14189 that is permitted for 868 AF at 1430 GPM that is included with Tract 1.
The two Zimmatic 7-tower sprinklers are each nozzled at 650 GPM. Western Sprinklers tested the wellvisit our website for a copy of the well test!
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