This Auction just got bigger!! We have added Tract 16 (320 +/- acres) to the offering! See Tract 16 Flyer in the Documents Section.
Rare offering of 7,542 +/- acres of productive farmland in the South Plains of the Texas Panhandle. This highly improved irrigated farm will be offered in 15 individual tracts ranging from 320 +/- acres to 1,293 +/- acres, giving you the opportunity to combine tracts to fit your investment needs. The area is intensively farmed providing a choice of great operators or tenants. Along with strong cash rents, this property is developed offering great depreciable assets. Property this size never comes on the market in this area making this a once-in-a-lifetime opportunity. This auction will take place on Tuesday, October 19th at 2:00 pm at the Hereford Civic Center, 1001 W. 15th St. in Hereford, Texas. Information Meetings will be held on Tuesday, October 5th at 10:00 am and on Auction Day at 10:00 am in the same location. This property is being offered in cooperation with Brad Andrews Realty in Lubbock, Texas.
This farm is located in the most productive area of Castro County, north of Flagg, and consists of 794.96 +/- acres. CR 620 provides access on the north side and CR 505 is on the west side.
Irrigation water for the estimated 644.68 wet acres is provided by six wells. Two of the wells are electric submersible wells, and four are electric turbine wells. The three 3,000-gallon fertilizer tanks located on this tract will convey with the property.
There are two 2001 Zimmatic Sprinkler Systems on this farm. The north sprinkler is a ½ mile system (Serial #73804) and is equipped with a booster pump. The south sprinkler is a ¼ mile system (Serial #73760). The Tenant reported the total water produced at 2,200 gpm (August 25, 2021).
Note: The south ¼ mile sprinkler encroaches onto Tract 2. If the buyer of Tract 1 does not purchase Tract 2, the buyer will have to shorten the sprinkler, or make arrangements with the new owner of Tract 2. Consider purchasing Tract 1 and 2 in a combination.
Estimated Property Taxes: $4,254.01
Legal Description: Section 14 and NE/4 of Section 15, Block O-4, D&SE RY Company Survey Castro County, Texas
PROCEDURE: This 7,591 +/- acres (amended 10-14-2021 to 7,911 +/- acres) will be offered in fifteen (15) individual tracts. There will be open bidding on all tracts and combinations until the close of the auction. The property 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 five percent (5%) Buyer Premium is in effect for all purchases. The Buyer Premium will be added to the “Auction Price” to determine the “Sales Price” or “Contract Price”.
ACCEPTANCE OF BID PRICES: This is an Absolute Auction. All successful bidders will sign a purchase agreement at the auction site immediately following the close of the auction.
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. Seller 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 the seller 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 to obtain the broker participation guidelines.
CLOSING: Will take place on or before December 3, 2021, or as soon as applicable closing documents and surveys (if needed) are completed.
POSSESSION: Possession will be given at closing.
TITLE: Seller shall provide an Owner’s Policy of Title Insurance on the surface tracts 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. Seller shall execute a Special Warranty Deed conveying the real estate to the Buyer.
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 shall release Seller of any and all liability.
EASEMENTS AND LEASES: Sale of the property is subject to any and all easements of record and any and all leases. No surface lease will survive closing.
SURVEY: AT THE SELLER’S OPTION, the Seller 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 Seller. The Seller will provide a survey at its own cost if needed. The type of survey performed shall be at the Seller’s option and sufficient for providing title insurance.
MINERAL RIGHTS: Any mineral and/or wind rights and royalties owned by the Sellers shall convey to the Buyer(s).
CONSERVATION RESERVE PROGRAM: Buyer of Tract #14 shall become the successor to any USDA FSA Conservation Reserve Program contract. The CRP contract shall be in compliance at the time of closing. The September 30, 2022 CRP payment and all subsequent payments shall convey to the Buyer.
GROWING CROP CONVEYANCE: The growing winter wheat crop will convey to the Buyer(s) of those tracts where growing winter wheat crop exists. The Buyer(s) will reimburse the Seller for expenses related to the wheat crop, not to exceed $35/acre. The growing summer corn crop will not convey.
AGENCY: Clift Land Auctions, LP and Brad Andrews Realty and their 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 seller 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 seller, 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. Online bidders assume the responsibility to obtain a copy of the Additions & Corrections prior to the start of the auction.
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.