By participating in this auction the bidder agrees to the following terms and conditions:
NOMINAL OPENING BID - $400,000.00. OPENING BID MEETS RESERVE !!!
THIS IS AN “ONLINE ONLY” AUCTION: If you prefer to turn in a bid in person, please call the office at (307) 587-2131 to make arrangements.
BIDDER REGISTRATION: Bidders must register with the Auctioneer prior to bidding on the property. Auctioneer reserves the right to require a $25,000.00 bidding deposit from bidders not well known to the auctioneer. If any bidder is not successful in purchasing the property, their deposit will be refunded in full.
BUYER’S PREMIUM: There will be a five percent (5%) Buyer’s premium added to the winning bid price to arrive at the total contract price to be paid by the Purchaser.
PROCEDURE: This is an Online Only bidding forum with increments set by the auctioneer. Bidding starts at the Nominal Opening Bid indicated. The Auctioneer is the sole arbitrator and controller of the auction and shall be the final and absolute authority without liability to any party.
AUCTION ENDING: Beginning at the stated closing time, the auction software will conclude bidding for the auction lot with the following condition: If a bid is placed in the last five minutes remaining for that auction lot, bidding for that lot will remain open for an additional 5 minutes and continue until there has been no bidding for a period of greater than 5 minutes.
OUTBID NOTIFICATION: Until the auction begins to close, the bidding software will notify bidders by email when they have been outbid.
ACCEPTANCE OF BID PRICE: Upon receiving a bid of $400,000.00 or greater, the Trustee’s Sale of this property is approved in accordance with the terms and conditions set forth in the Notice of Intent to Sell Real Property of the Estate at Internet Auction (Docket No. 526). Purchaser will be notified within 72 hours if the Purchase Agreement has been accepted by the SELLER, but PURCHASER acknowledges that he is irrevocably bound to the terms of this Purchase Agreement during that 72 hour period, and shall be irrevocably bound thereafter if SELLER accepts the Purchase Agreement.
AGREEMENT OF PURCHASE AGREEMENT: The Purchaser shall execute the Purchase Agreement , in the form provided by the Auctioneer pertaining to this auction, without modification, within 24 hours after being declared the high bidder at Musser Bros. Inc. office at 1131 13th Street, Suite 101 in Cody, Wyoming.
EARNEST MONEY DEPOSIT: Twenty-Five Thousand Dollars ($25,000.00) earnest money deposit to be deposited in First American Title in Cody, WY within 24 hours of being declared the successful high bidder. An additional Twenty-Five Thousand Dollars ($25,000.00) earnest money deposit to be deposited in First American Title in Cody, WY within 10 days of being declared the successful high bidder. Both payments must be in cash, wire transfer, personal or business check payable to First American Title. Earnest Money Deposits will be applied to the purchase price at closing.
BALANCE OF PURCHASE PRICE: The balance of the purchase price is to be paid in cash, wired or certified funds at closing.
NO CONTINGENCIES: YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, OR ARE CAPABLE OF PAYING CASH AT CLOSING. PURCHASER IS REQUIRED TO CLOSE BY OCTOBER 16, 2017, OR PURCHASER WILL FORFEIT ALL OG HIS EARNEST MONEY DEPOSIT TO SELLER.
TITLE: Purchaser will receive a Warranty Deed.
TAXES: General property taxes and assessments for the year 2016 shall be paid by the Seller. General property taxes for the year 2017 shall be prorated between the parties as of the date of closing.
MERCHANTABLE TITLE: Seller at Seller’s expense shall provide the Purchaser a commitment for Owner’s Title Insurance which shall be in favor of Purchaser in the amount of the purchase price.
POSSESSION: Purchaser shall be entitled to possession of the property at closing, subject to the existing farm lease.
CLOSING: Closing shall take place on or before October 16, 2017 at First American Title in Cody, Wyoming.
PERSONAL PROPERTY: All household appliances presently in the house, present window coverings, all installed panels and gates, all irrigation pipe and pumps
INSPECTIONS: Purchaser has had an opportunity to inspect the property and is fully aware of its condition. Purchaser accepts the condition of the property in its “As Is” condition.
FENCES: Purchaser acknowledges that the fences on the property may not be on line.
MINERAL RIGHTS: 100% of the Seller’s interest in the mineral rights will be conveyed with sale.
HEART MOUNTAIN IRRIGATION DISTRICT: Seller will cooperate with the Purchaser in the transfer of all Heart Mountain Irrigation District Shares. Purchaser will be responsible for all fees or charges for the transfer of such shares.
ACREAGE and SQUARE FOOTAGE: All acreage and square footage are approximate and have been estimated from sources thought to be reliable.
NO SURVEY PROVIDED: The property will be conveyed according to the existing legal description.
AS-IS SALE: The Purchaser shall accept the property in an AS-IS condition with all faults as of the closing date and the Purchaser shall specifically agree that the Seller nor the Auctioneer have not and do not make any representations or warranties of any kind whatsoever, expressed or implied, to the Purchaser regarding the property or any improvements thereon. The property is selling subject to anything an accurate survey or personal inspection of the property may reveal, including any existing rights-of-way, easements or claim to easements, encroachments, rights or claims of parties in possession, restrictive covenants, flood zones, zoning or subdivision regulations, building codes, governmental agencies regulations, environmental conditions, lead-based paint, asbestos, radon gas, hazardous materials, any mineral rights, water rights, riparian or littoral rights and prior reservations and conveyances, if any. The Purchaser shall have satisfied himself as to the location and condition of the property, and all descriptions thereof, before bidding. All information contained in any and all promotional materials, either printed or online, including, but not limited to, square footage, acreage, dimensions, maps , taxes, etc. was derived from sources deemed to be reliable, however, neither the Seller nor the Auctioneer makes any guarantees or warranties as to the accuracy or completeness of such information.
SERVER & SOFTWARE TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software or any other online auction related technologies, Musser Bros. Inc. reserves the right to extend bidding, continue the bidding, postpone the bidding or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor MUSSER BROS. INC. SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Email notifications will be sent to registered bidders with updated information as deemed necessary by Musser Bros. Inc.
DEBT COLLECTION AND INTEREST CHARGES: The bidder agrees to pay all reasonable attorney fees and other costs incurred by Musser Bros. Inc. in its efforts to collect unpaid funds from the bidder. The bidder agrees that a fee of 1.5% of the outstanding balance per month be added to any unpaid balance due Musser Bros. Inc. Any debt collection or dispute proceedings will be heard in Park County, Wyoming.
AGE REQUIREMENT: All bidders must be 18 years of age or older.
OWNER: Joseph V. Womack, Chapter 7 Bankruptcy Trustee
AGENCY: Musser Bros Inc. and their representatives are exclusive agents of the Seller.