PROCEDURE: The Property will be offered in 3 individual parcels There will be open bidding on all parcels. All bidding must be complete before the auction will close.
DEPOSIT: 10% of the accepted bid price as down payment on the day of auction with the balance in cash at closing.
Your bidding is not conditional upon financing, so be sure that you have arranged financing, if needed, and are capable of paying cash at closing.
BUYERS PREMIUM: A 6% Buyer’s Premium will be added to the final high bid on each parcel or parcel(s) to determine the final purchase price.
ACCEPTANCE OF BID PRICES: Each successful bidder will be required to execute the attached Real Estate Purchase and Sale Agreement, incorporated herein by this reference, at the auction site immediately following the close of the auction. All such Real Estate Purchase and Sale Agreements are then subject to the Seller’s written acceptance or rejection within forty-eight (48) hours.
EVIDENCE OF TITLE: The Seller agrees to furnish a preliminary standard Commitment For Title Insurance to review prior to the auction. The cost of the standard owner’s title insurance policy will be paid by Seller at closing. Seller agrees to provide marketable to the Property, free and clear of all liens, subject to matters of record as set forth in the Commitment For Title Insurance and further subject to the terms and conditions of the Real Estate Purchase and Sale Agreement.
CONVEYANCE: Conveyance shall be by warranty deed subject to the matters described further below..
CLOSING: Subject to events outside the control of Seller, Closing shall take place on or before August 31, 2017, NO EXCEPTIONS. Closing documents shall be completed at Chicago Title Company, Kennewick, Washington. With respect to the timing of the successful bidder fulfilling its’ obligations under the Real Estate Purchase and Sale Agreement, time is of the essence.
POSSESSION: Possession will be upon Closing, however the 2017 crop will be harvested by the Seller and Seller's Lessee and Seller and Seller's Lessee shall have access to the property through November 30, 2017.
REAL ESTATE TAXES: Real estate taxes will be pro-rated as of the date of Closing. Buyer understands that the Property is sold and is currently classified as agricultural open space for tax purposes, and any change in classification by Buyer after closing may trigger taxes and penalties for which Buyer will be solely responsible. Buyer shall indemnify, defend and hold Seller and Auctioneer harmless for and against any and all such taxes and penalties.
IRRIGATION ASSESSMENTS: Seller will be responsible for all 2017 irrigation assessments.
ACREAGE: All acreages, dimensions and boundaries are approximate and have been estimated based on current legal descriptions.
TITLE IS SUBJECT TO: Sale of the Property is subject to any and all matters set forth in the Commitment For Title Insurance and the Real Estate Purchase and Sale Agreement.
PROPERTY INSPECTION: Each potential bidder is responsible for conducting, at their own risk, independent inspections, investigations, inquiries, and due diligence concerning the Property. Inspection dates have been scheduled and will be staffed with auction personnel. Each potential bidder shall be liable for any property damage and/ or personal injuries (including death) caused by or arising from any such inspection or investigations by them or their agents or consultants.
AGENCY: Musser Bros. Inc. and their representatives are the Auctioneers and exclusive agents of Seller.
DISCLAIMER & ABSENCE OF WARRANTIES: All information contained here and all related materials are subject to the terms and conditions outlined in the Real Estate Purchase and Sale Agreement. Buyer has had ample opportunity to inspect the Property and is familiar with the Property, and agrees to accept the Property in its current condition. Seller provides no warranties as to the condition of the Property, the accuracy of apparent physical conditions of Property attributes, or the existence or condition of personal property or fixtures, if any. The Property and any improvements are sold “AS IS, WHERE IS, WITH ALL FAULTS”. Seller makes no representation or warranty, and Buyer hereby knowingly and voluntarily assumes any and all risks, as to: environmental conditions; potable and irrigation water quantity, quality or the existence or condition of the water delivery system(s) (if any); the accuracy of the acreage as set forth in any advertisements; and, the condition, existence or improvement of any easements, property lines or fence locations, if any, in relation to Property boundary lines. SELLER HEREBY DISCLAIMS ANY AND ALL WARRANTIES OF HABITABILITY, MERCHANTABILITY AND FITNESS FOR PARTICULAR PURPOSE, EXPRESS OR IMPLIED. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, surveys, inquiries, and due diligence concerning the Property. The information provided is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc. All decisions of the Auctioneer are final. AUCTIONEER RESERVES THE RIGHT TO WAIVE ANY AND ALL FORMALITIES OF SALE.
SELLER: R & D Farms, Dennis Spence and Roger Giesbrecht