Auction Information
1,780 Acres in Leoti, KS
SELLER: ROBERTS FAMILY
WICHITA COUNTY, KANSAS
TRACT 1: SE/4 of Section 12-19-38
TRACT 2: NW/4 of Section 25-19-38, less improvements
TRACT 3: Approximately 7.4 acre tract in the NW corner of the NW/4 of Section 25-19-38, including the improvements
TRACT 4: NE/4 of Section 26-19-38, less a tract
TRACT 5: NW/4 of Section 26-19-38
TRACT 8: Tract of approximately 108+ acres of cropland in the SE/4 of Section 32-20-38
TRACT 11: NW/4 of Section 31-19-37 & S/2SW/4 of Section 30-19-37
TRACT 12: SE/4 of Section 30-19-37
GREELEY COUNTY, KANSAS
TRACT 6: NE/4 of Section 25-19-39
TRACT 7: NE/4 of Section 25-20-39
KEARNY COUNTY, KANSAS
TRACT 9: SW/4 of Section 5-21-38, less a tract
TRACT 10: SW/4 of Section 2-21-38
MANNER OF SALE: This real estate will be offered as a MULTI-PARCEL auction in 12 individual tracts and in combinations of tracts. It will be sold in the manner that produces the high...
MANNER OF SALE: This real estate will be offered as a MULTI-PARCEL auction in 12 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 15, 2013, 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 the auction company in their trust account or 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. Bids are subject to tenants first right of refusal. 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. There are prior reservations on Tracts 9 and 11. There is gas production on Tract 10 and the Buyer will receive all of the Sellers interest in the royalty production at closing.
CROPS: Crops are subject to a Cash Farm Lease Agreement thru Dec. 31, 2016. Buyer(s) will receive 100% of the 2013 and future years lease payments. See chart below for individual tract lease payments.
EFFLUENT EASEMENT: Tract 8 is subject to an Effluent Easement & Waiver of record. Copies are available from the auction company.
FSA INFORMATION: All FSA payments are subject to the Cash Farm Lease Agreement.
CLOSING: Closing will be on or before March 15, 2013.
POSSESSION: Subject to the tenants rights under the current cash lease through 2016, except on Tract 3 where possession will be May 15, 2013 on the house and September 1, 2013 on the Morton Building.
REAL ESTATE TAXES: Seller will pay taxes for 2012 and prior years. Taxes for 2013 will be the responsibility of the Buyer(s). See chart for 2012 tax amounts.
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 bidder 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.
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.
INSPECTIONS: Each potential bidder is responsible for conducting their own independent inspections and due diligence concerning pertinent facts about the property. Neither Seller 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 Agent of the Seller.
AUCTIONEERS NOTE: These farms have some of the flattest, most productive land in the Tri-County area. It is truly a great opportunity for the investor with cash rents through 2016, all of the mineral rights on most of the tracts and a chance to put together up to 1,780 acres of great land.
The house and Morton building will be offered as a separate tract, Tract 3, or you can put it together with Tract 2 and own the entire quarter. The tracts are posted with signs for your convenience.
For an appointment to see the house or for additional information
call Toll Free 1-800-247-7863.
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