Stegman Ranch Auction

Friday, August 02, 2019

United Country Rocking X Land Co.
Auction Terms & ConditionsBy participating in this auction, bidders hereby agree that their bid shall NOT BE SUBJECT to the bidders ability to obtain financing. By placing a bid in this auction, bidders are making a "cash offer" to purchase the property. Financing is NOT a contingency in the purchase agreement.Winning bidder hereby agrees to enter into a Contract to Purchase the property within 24 hours of being declared the Successful Bidder by the Auctioneer. Upon the close of the auction, the winning bidder will be forwarded via email or fax a Contract to Purchase the property. A signed copy of the contract must be received by Rocking X Land Co. within 24 hours of the end of the auction.Under no circumstances shall Bidder have any kind of claim against Rocking X Land Co., or anyone else if the Internet service fails to work correctly before or during the auction. Online bidding is subject to technology faults and issues, which are outside the control of the auction company.BUYER'S PREMIUM: 3% Buyer's Premium shall be added to the final bid price placed online which will determine the Total Contract Sales Price. Bidders hereby understand that the Buyer's Premium of 3% shall be added to the winning bid to create the Total Contract Sales Price for which they are obligated to pay for the property. ESCROW: An escrow deposit of Ten Percent (10%) of the total contract purchase price (which includes the buyer's premium) must be received by Rocking X Land Company within 36 business hours of the close of the auction. Acceptable forms of payment include cashier's check, or wire transfer. The balance will be due in full at closing. CLOSING: Buyer must close sale of real property on or before Friday, August 16th, 2019 at Kit CarsonCounty Abstract Co., 1451 Senter ave. Burlington CO 80807. TIME IS OF THE ESSENCE. The entire purchase price must be paid by Cashier/Certified check or wired funds at closing. No purchase is contingent on financing. Buyer is entitled to a deed for property upon full payment. Buyers should have all tests and inspections completed prior to the date of the auction. Only the Purchase Contract shall set forth Seller's obligations to the successful Bidder. Out of area buyers will be afforded the opportunity to close via email, mail and wire transfer of certified funds. Possession of the property will be given at closing.TAXES: Seller shall pay 2018 taxes and all prior years. 2019 taxes will be pro-rated to the date of closing.TITLE/CLOSING COSTS: Seller and Buyer shall share equally in the cost of escrow closing. Preliminary Title insurance has been prepared by Kit CarsonCounty Abstract Co. and will be updated with Buyer information prior to closing, Title insurance shall be Sellers Expense. Buyer is responsible for cost of lender's policy.TITLE EVIDENCE/DEED: Seller will deliver to Buyer an insurable deed for the Property at time of closing, conveying clear and marketable title of surface rights to said Property, free of all encumbrances, liens and judgment, except for those lawful conveyances and restrictions that exist on record before the date of the auction, as noted in the title insurance commitment.PROPERTY SOLD "AS IS, WHERE IS, WITH ALL FAULTS" WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND: The real property shall be sold subject to conditions, restriction, right-of-way easements, and reservations; if any, of record, filed and untitled mechanic's and material men's liens; if any, and all other matters of record taking priority, subject to the rights; if any, of tenants-in-possession, and further subject to all conditions announced at the safe; and confirmation of the seller. Announcements made day of auction take precedence over previously printed material and oral statements.RESTRICTIONS: Subject only to (1) all City, County, and State laws, ordinances and regulations and (2) any easements, encumbrances, and restrictions applicable to the Property. Seller is placing no restrictions on the property.UTILITIES: Rocking X Land Co., nor the seller guarantees the availability of utilities, public or private. This consists of, but is not limited to: wells, septic tanks, access to public utilities or any hookup fees therewith. Confirmation of utility availability is the bidder's sole responsibility.CONDITION OF SALE: The Auctioneer reserves the right to cancel the auction up to the time prior to the commencement of bidding. If a subsequent survey by the Buyer shows a greater or lesser number of acres or square footage this will not affect the purchase or purchase price.AGENCY: The Broker/Auctioneer is acting as agent for the Seller only. During bidding, the Auctioneer has the right to reject any raise that in his opinion is not commensurate with the property value. In the event of any dispute after the sale, Rocking X Land Co.'s record of final sale shall be conclusive. All information and materials provided by Auctioneer is subject to inspection by all appropriate parties and the Auctioneer assumes no liability for its accuracy, errors, or omissions nor its agents, the Seller or its agents. Prospective bidders should independently verify any information being materially relied upon in making a purchasing decision.LIQUIDATED DAMAGES: Buyer will forfeit all of their deposit if they cannot close within the stated time herein - and no written extension has been granted by the Seller. If such action occurs, Rocking X Land Co., hereby has the right to disperse the deposit as stated in the listing agreement and the Buyer has no claims to such money or property being sold. Liquidated damages are to cover cost of auction, cost incurred by seller, labor cost, and additional cost of auction as not defined in this agreement. These liquidated damages do not restrict the seller from suing the Buyer for performance damages and/or any additional damages the seller suffers by the default of the Buyer.ARBITRATION: For disputes that are not resolved by the parties within 10 days after either party gives notice to the other of its desire to arbitrate the dispute, the dispute shall be settled by binding arbitration by the American Arbitration Association in accord with its then-prevailing rules. Judgment upon the arbitration award may be entered in any court having jurisdiction. The arbitrator shall have no power to change the provisions of this Agreement. The arbitrator shall consist of one arbitrator, who must be a real estate attorney actively engaged in the practice of law for at least the last five years.BUYER'S NOTE: Individual purchases are to be considered as singular transactions not contingent on the sale of other properties or tracts. Rocking X Land Co., reserve the right to amend any terms and conditions prior to the auction. This is a soft close auction with both tracts being held open on a bid.BIDDER'S DUTY TO INSPECT: All information published, announced, or contained herein was derived from sources believed to be correct; however, it is not guaranteed by the seller, the auctioneers, or any other person or entity. Personal onsite inspection of all property by potential bidders is strongly recommended. All sales are subject to the conditions and terms contained herein. The failure of any bidder to inspect, or to be fully informed as to the condition of the property, will not constitute grounds for any claim or demand for adjustment or withdrawal of bid, offer or deposit money after its opening tender. This includes but is not limited to public information such as easements, restrictions, zoning, rights-of way, or any other information that can be obtained as public record in the county courthouse or any municipal office concerning subject properties. Any and all announcements made from the auction stand take precedence over all other verbal, printed, announced, and/or distributed information. Please note that you are bidding to purchase the Property "As Is, Where Is" with no guarantee or warranty.
Stratton, CO US
Tract #1: The east half of the southeast quarter of section 7. Features a 1978 Modular home, 3 Bedroom, 1 bathroom, 1,416 square feet. This property had been used as a purebred Paint horse ranch and features a large steel horse barn with 15?11?10?x9?10? stalls, a tack room, a wash rack, and an office area totaling 3,600 square feet. Built in 1986, with several additional outbuildings, corrals, and a riding arena. Has utilities, well water, cess pool, and propane. *Plumbing inside steel horse barn has frozen & is no longer functional. 80 +/- Acres of Native Grass. Open House to be held July 19 from 2-4 PM and July 31st from 2-4 PMTract #2: The east half of the northeast quarter of section 18. This area is fenced and is currently watered from Tract #1. Electricity is available in the area. 80 +/- Acres of Native Grass.Make sure and register to bid early so you can bid and buy!!Directions to the propertyFrom Stratton, take Highway 57 (Road 31) North for 10 miles to Road FF. Turn east and go 1 mile. Signs will be posted.
Lot #: 1

Ken & Pat Stegman Ranch

Lot #: 2

Ken & Pat Stegman Ranch

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Announcement: Information contained herein is presented on behalf of the seller. United Country Rocking X Land Co., agent for the seller, cannot guarantee the information to be correct or assume the liabilities for errors and omissions. All lines drawn on maps are approximate. Buyers should verify the information to their own satisfaction. Any announcements made from the auction block on day of auction will take precedence over any matter of print and will be final.