By participating in this auction the bidder agrees to the following terms and conditions:
NOMINAL OPENING BID: $350 Per Acre x 1900 • Bid Meets Reserve
THIS IS AN ONLINE ONLY AUCTION: If you prefer to turn in a bid in person, please call the office at (406) 652-2266 to make arrangements.
BIDDER REGISTRATION: Bidders must register with Auctioneer prior to bidding on the Property and deposit $25,000 with Auctioneer before bidding privileges are granted. If bidder is not successful in purchasing the subject property, deposit will be refunded in full. Deposit must be accompanied with the Bid Certification form.
BUYER’S PREMIUM: There will be a Two and One Half Percent (2.5%) Buyer’s Premium added to the winning bid price to arrive at the total contract price to be paid by the Buyer.
PROCEDURE: The property will be offered in (1) individual tract. This will be Online Only Bidding forum with increments as determined by the Auctioneer. Bidding starts at the nominal Opening Bid indicated and is open to the public. The Auctioneer is the sole arbiter and controller of the conduct 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 exception: if a bid is placed in the last 10 minutes remaining for that auction lot, bidding for that lot will remain open for an additional 10 minutes or until 10 minutes pass without a bid increase.
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 $350 per acre or greater, the Seller of this property has approved to sell the subject property to the highest bidder in accordance with the terms and conditions set forth. Purchaser acknowledges that he/she is irrevocably bound to the terms of this Purchase Agreement for 72 hour period following the auction close, allowing Auctioneer to secure Seller acceptance of the Purchase Agreement.
AGREEMENT OF PURCHASE and SALE: The Purchaser shall execute an Agreement of Purchase and Sale, in the form provided by the auctioneer, without modification, by November 30th, 2017 at 1:00 p.m. MST after being declared the high bidder at Musser Bros, Inc office in Billings, MT.
EARNEST MONEY: The Purchaser shall pay an amount equal to 10% of the total contract sales price when executing the agreement of purchase and sale. The earnest money will include the $20,000 deposit with the balance of earnest money in the form of personal check. The balance of funds will be due in full at the time of closing on or before January 31st, 2018, at American Title & Escrow in Billings, MT.
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 JANUARY 31, 2018, OR PURCHASER WILL FORFEIT ALL OF HIS EARNEST MONEY DEPOSIT TO SELLER.
ESCROW AGENT: The deposit, earnest and purchase monies in respect of the property shall be paid to and deposited with American Title & Escrow of Billings, MT, (406) 248-7877, 1001 S 24th St W, Ste 200, Billings, MT 59102
DEED: Seller shall provide a warranty deed.
CLOSING: The balance of the purchase price shall be paid at or before closing. Closing shall take place on or before 4:00 PM MST on January 31st, 2018. The Escrow Agent will schedule and conduct closing.
TITLE: Seller shall provide an Owner's Policy of Title Insurance in the amount of the purchase price, and shall execute a proper deed conveying the real estate to the Buyer(s). Seller shall pay the premium of the title insurance policy.
TAXES: General property taxes and assessments for the year 2017 shall be paid by the Seller. General property taxes for the year 2018 shall be prorated between the parties as of the date of closing.
CLOSING COSTS: At closing, Seller shall pay for its escrow and closing fees, and all of the costs for preparation of all documents to convey the property. At closing, Purchaser shall pay for its escrow and closing fees, any and all recording fees, and all other sale, financing or closing fees as required. Taxes and association fees, if any, shall be prorated to the date of closing.
PERSONAL PROPERTY: All household appliances presently in the house, all installed panels, gates and chutes, all stock tanks and pumps.
POSSESSION: Purchaser will receive possession at closing, subject to the rights of parties in possession, if any.
WATER RIGHTS: To the extent Seller owns any water rights relating to the Property, they will be transferred to Buyer and included in the definition of Property. As used herein, the term “water rights” includes, but is not limited to, all water, including surface or ground water, and any legal entitlement to water, including statements of claim, certificates of water rights, permits to appropriate water, exempt existing rights, decreed basins, or any ditches, ditch rights or ditch easements, appurtenant to or used in connection with the Property.
MINERAL RIGHTS: 100% of Seller’s interest, if any, in the mineral rights will be conveyed with sale. Seller has stated they have no mineral interests.
NO NEW SURVEY: The property will be conveyed according to the existing legal description. Purchaser acknowledges that the fences on the property may not be on line.
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.
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 has not and does 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 claims to easements, encroachments, rights or claims of parties in possession, restrictive covenants and easements, 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 reservations or 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 the brochure and all promotional materials, including, but not limited to, square footages, acreage, dimensions, maps, taxes, etc., was derived from court house records and is believed to be correct; however, neither the seller nor the auctioneer makes any guarantee or warranty as to the accuracy or completeness of such information.
MISCELLANEOUS: All decisions of the auctioneer are final as to the methods of bidding, disputes among bidders, increments of bidding and any other matters that may arise before, during, or after the auction. Seller reserves the right to deny any person the right to participate in the auction or to ban anyone from the auction who attempts to disrupt it.
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, 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 CHARGE: 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 2% 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 Yellowstone County, Montana.
AGE REQUIREMENT: All bidders must be 18 years of age or older.
AGENCY: Musser Bros, Inc. and its representatives are exclusive agents of the Seller and are agents of no other party to this transaction.
OWNER: Avalon Holdings LLC
Musser Bros, Inc.
4350 Neibauer Road
Billings, MT 59106