Polk County Land Auction - 100 Acres

TERMS OF SALE OUTLINED

(100+/- Acres on MO-RB Near Bolivar Landing & Lake Pomme De Terre)

1. Your bidding is not conditional upon financing, so be sure you have arranged financing, if necessary, and are capable of paying cash at closing within the specified time.

2. The balance of the purchase price is due in cash at closing.  Closing costs will be shared equally between Buyer(s) and Seller(s). Closing shall place at Polk County Title Co. in Bolivar, MO.  Closings shall take place on or before Monday, December 22, 2023 (46 days from November 7, 2024)

3. The sale of the real estate is NOT subject to any contingencies or financing 

4. The Seller(s) shall provide a title search and a warranty deed.  The cost of title insurance shall be at Buyer(s) expense if Buyer(s) elects to secure a title insurance policy.

5. The Seller(s) shall pay the 2023 and all prior year’s real estate taxes; real estate taxes for 2024 shall be prorated to the date of closing. 

6. The lot sizes, square footages and dimensions of structures the properties are those figures that are on file in the respective county assessor’s office. 

7. Possession shall not be granted until closing. No buyer may inhabit any dwelling, make physical changes to any structure or land, harvest any crop nor store any items on the premises of any property. 

8. Your bids are to be based solely upon your inspection.  All real estate is being sold without physical warranty of any kind.  The Seller(s) and the agents of Diamond S Auction & Real Estate Co. shall not assume any responsibility for warranty of any specific zoning classifications, location of utilities, and assurance of building permits, or water and septic permits.  No warranties or guarantees as to the condition of the wells on any parcel are made by the Seller(s) or Auction Company.  In short, all property is being sold “AS IS” with no guarantees of any kind.

9. All real estate is being sold subject to any existing recorded easements.  Existing recorded leases, if any will be assigned to the Buyer(s). 

10. At the close of the auction, Buyer(s) will be required to execute an Agreement to Purchase Real Estate and Addendum(s).  This agreement is available for your review.  The terms of this agreement and addendum(s) are non-negotiable.

11. Diamond S Auction & Real Estate Company, Inc. and its representatives are the exclusive agents of the Seller(s). Any announcements made by the auctioneers shall take precedence over this and any other printed material.

DOWN PAYMENTS

1. Cash, cashier’s check, personal or business check that is immediately negotiable is satisfactory for the down payment.  Your down payment check WILL BE DEPOSITED IN ESCROW and will be applied to the purchase price at closing.

2. Down Payments Shall Be Made According to the Following Scale:

•         $300K and below: 10% up a maximum of $15,000.00

•         $301K – $500K: $25,000.00 (Flat)

•         $501K – $1 Million $35,000.00 (Flat)

•         Above $1 Million $50,000.00 (Flat)

DIVISIBLE LAND

1. If the Seller determines that a boundary survey is required to establish a legal description, then a survey shall be prepared by Shuler Land Surveying of Bolivar, MO. The Seller and Buyer(s) shall share equally in the cost of the survey. Tracts purchased in combination shall receive a perimeter survey only, if any. In the event that an existing legal description is available then no survey will be required and as such, a survey will not be conducted.

2. The locations of the tract signs on the parcels are approximate. These signs are not survey markers nor are they substitutes for survey markers, there may be a difference of several feet in any direction between the location of the tract sign and the actual location of a boundary line.

3. The acreage estimates for each tract were developed using GIS satellite technology. These are fairly accurate estimates, however they are only estimates. Therefore, the bid price for unimproved tracts or combinations of unimproved tracts shall be adjusted at closing to reflect the results of any required survey work, if the surveyed acres are different than the estimated acres. It is important to note that this adjustment shall reflect both additions to and subtractions from the estimated acres and subsequently the final purchase price. However, there shall be no prorated price adjustment for any tract or combination of tracts that contain building improvements.

4. A seller may choose to qualify the sale of their property under Section 1031 of the Internal Revenue Service Code (tax deferred exchange). Buyer(s) shall cooperate with said exchange and shall be held harmless from any and all claims, costs, liabilities, or delays in time resulting from such an exchange. Buyer shall agree to an assignment of this contract by the Seller.

5. Unless otherwise noted, the sale of the property does not include items that are portable in nature or items that have been specifically advertised separately from the property. This shall include but is not limited to: feeders, portable corral panels, home appliances, propane tanks, livestock chutes, etc.

6. In the event that the property sells in tracts and water or septic lines happen to cross a boundary line onto an adjacent tract the Buyer(s) of the adjacent tracts(s) shall be required to grant the easements necessary for the operation and maintenance of such systems. Furthermore, Buyers of any and all tracts shall be required to grant the easements required by the local power company to supply electrical service to each tract.

7. There may not be fence lines separating the tracts of each parcel. Neither the Seller nor the auction company shall be responsible for any new fencing.  New fencing shall be the sole responsibility of the Buyer(s).

8. Please keep in mind that the Agreement to Purchase Real Estate you will be signing at the close of the auction will be drawn up based on the manner in which you bid. You will be closing on the tract or combination of tracts on which you are the successful bidder in the manner in which you bid at the auction.

9. All informational drawings and descriptions are intended as approximations only and should NOT be considered absolute.  Confirmation of the accuracy of said informational drawings and descriptions shall be the sole responsibility of the buyer to their own satisfaction.

WELLS & WATER

1.  The well servicing the livestock watering devices on Tracts 3 & 9 is located on Tract 4.  In the event that these tracts sell to different buyers, the buyer of Tract 4 shall determine whether or not to allow or disallow the use of the well in its present capacity.  Any and all agreements for a shared well shall be sole between the buyer of Tract 3 and the buyer or buyers of the affected tracts. 

EASEMENTS

1. The 40’ Easement depicted on the Tract Map extending southeast from MO-RB and servicing Tracts 1,2,3 & 4 is an existing gravel driveway easement.  Said easement shall only be surveyed and recorded if it is necessary to provide legal ingress and egress to the subject tract or tracts.  If other access is available either from a public roadway or adjacent property to which the buyer is party to, no easement will be required, and as such, no easement shall be surveyed or recorded.  Furthermore, if surveyed and recorded, said easement shall only extend as far westward as is minimally necessary to provide legal ingress and egress.  Beneficiaries of said easement shall share the costs of roadway improvements and maintenance equally.