AUCTION TERMS & CONDITIONS
PROCEDURE: This 943 +/- Acres will be offered in five (5) individual tracts. Tracts #1—#4 may be combined, but Tract #5 may not be combined with any other tract. There will be open bidding on these tracts until the close of this auction. These properties will be sold in the manner resulting in the highest total sale price. Online bidding will be available for this auction at CliftLandAuctions.com.
BUYER PREMIUM: A 5% Buyer Premium is in effect for all purchases. The Buyer Premium will be added to the “Auction Board Price” to determine the “Total Sales Price” or “Total Contract Price”.
ACCEPTANCE OF BID PRICES: All successful bidders will sign a purchase agreement at the auction site immediately following the close of the auction. All final bid prices are subject to the Sellers’ approval.
EARNEST MONEY: Ten percent (10%) earnest money on the day of the auction, upon signing a purchase agreement immediately following the close of bidding. The earnest money may be paid in the form of personal check, business check, or cashier’s check. The remainder of the purchase price is payable in cash at closing. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, and are capable of paying cash at closing.
REAL ESTATE TAXES AND ASSESSMENTS: The Property Taxes will be prorated to the date of closing. Sellers shall have paid all Property Taxes for prior years before closing. The Buyer(s) will be responsible for any “rollback” in the property taxes. The Buyer(s) will be responsible for all additional taxes imposed after the date of execution of the Special Warranty Deed by Sellers as a result of any change in use of any part of the subject property, the intent being that all such additional taxes shall be the responsibility of the Buyer(s) and the Buyer’s heirs, personal representatives and assigns.
BROKER PARTICIPATION: Contact the Auction office at 800-299-5263 to obtain the broker participation guidelines.
CLOSING: Will take place on or before October 29, 2021, or as soon as applicable closing documents and surveys (if needed) are completed.
POSSESSION: Possession will be given at closing.
TITLE: Sellers shall provide an Owner’s Policy of Title Insurance in the amount of the purchase price. Buyer(s) will be responsible for all expenses related to acquiring a mortgagee’s title policy, if required. Sellers shall execute Special Warranty Deeds conveying the real estate to the Buyer(s).
PROPERTY CONDITION: Property to be sold AS IS—WHERE IS and no warranty or representation, either express or implied, will be given to any bidder or Buyer. Buyer(s) shall release Sellers of any and all liability.
EASEMENTS AND LEASES: the sale of the property is subject to any and all easements of record and any and all leases. The west well on Tract #2 currently supplies livestock water to Tract #3. If the Buyer of Tract #3 does not purchase Tract #2, the Buyer of Tract #3 shall receive a 12-month Easement and Well Use Agreement for the use of the west well on Tract #2.
CONSERVATION RESERVE PROGRAM: The Buyer(s) shall become Successor(s) to any existing USDA FSA Conservation Reserve Program Contract, specifically CRP Contract #10090F (Auction Tract #1) and CRP Contract #10090E (Auction Tracts #2 and #4). Potential Buyers are encouraged to contact the Sherman County Farm Service Agency in Stratford, TX at (806) 396-2211 for more information regarding these contracts. These CRP contracts shall be in compliance at the time of closing. The 2021/2022 CRP annual payments and all subsequent payments shall convey to the Buyer(s). Tract #5 has a pending CRP Contract. The Buyer of Tract #5 will have the option to cancel this enrollment application the day after the auction.
SURVEY: Tracts #1—#4 The Sellers shall provide a new survey where there is no existing legal description or where new boundaries are created by the tract divisions in the auction. Any need for a new survey will be determined solely by the Sellers. The Sellers will provide a survey at it’s own cost, if needed. The type of survey performed shall be at the Sellers’ option and sufficient for providing title insurance. Tract #5 The Seller will not pay for a survey.
MINERAL RIGHTS: Tracts #1—#4 50% of any minerals owned by the Seller shall convey with the property. Tract #5 no minerals shall convey with this tract.
AGENCY: Clift Land Auctions, LP and Clift Land Brokers and its representatives are exclusive agents of the Seller.
DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the agreement to purchase. ANNOUNCEMENTS MADE BY THE AUCTIONEER AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either express or implied, concerning the property is made by the Sellers or the Auction Company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is believed to be accurate but is subject to verification by all parties relying on it. No liability for its accuracy, errors or omissions is assumed by the Sellers, the Broker, the Auction Company or any of their respective representatives. All sketches and dimensions in this brochure are approximate. All acreages are approximate and have been estimated based on legal descriptions or aerial photographs. Conduct at the auction and increments of bidding are at the direction and discretion of the auctioneer. The Seller, Broker and Auction Company 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.
Online bidding will be available on our website for this Auction. If you need assistance in registering to bid on our website, please call our office at 800.299.5263. In accepting the terms and conditions for the use of our website, you agree to not hold Clift Land Auctions, LP, Clift Land Brokers, our affiliates, or our representatives responsible or liable for the functionality of the bidding platform. Problems in placing bids on the online bidding platform could be caused by internet connections, human error, wireless connections, etc. If you have trouble placing your online bid, immediately call Brady Cowan at (940) 733-9608 for assistance in placing your bid.
NEW DATA, CORRECTIONS AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes, corrections or additions to the property information.
NOTE: Videotaping, flash photography and/or public announcements will be allowed on auction day ONLY with prior approval from Clift Land Auctions, LP.
SELLER: Tracts #1—#4—Calvin H. Weiss Estate Tract #5—McBryde Farm LTD
206 N. Main St.
Stratford, Texas 79084