Practice Bidding Lot - FREE!! - Peterson Land & Auction LLC
Practice Bidding Lot - FREE!!
Lot Number:100
Start Time:1/18/2022 12:00:00 AM
End Time:2/1/2022 12:00:00 AM
Bid Count:10
Winning Bidder:7****6
Starting Bid:$10.00
Bid Increment:$1.00
Current Bid:$30.00
Bidding complete

This lot gives all bidders the chance to practice their bidding and get a feel for how online auctions work.  It also helps to ensure that each respective bidder has their respective notifications set correctly.  Bid away!  It doesn't cost a thing! 

No donations for this lot

All potential bidders will need to be approved by the Auction Company prior to bidding using the following requirements/terms.

1.  Each party must register with their full legal name, current mailing address, telephone number and email address.

2.  Each party must provide auction company with ONE of the following:  1) A bank issued pre-approval letter stating the buyer is approved for the starting bid of at least $525,000 and up to the respective bidder's maximum.   2) A bank/financial services company issued letter stating the buyer has cash and/or line of credit available for the starting bid of at least $525,000 and up to the respective bidder's maximum. 

3.  Buyer and Seller agree to execute a written purchase agreement within 24 hours of auction closing.

4.  Buyer shall deposit $15,000 (Fifteen thousand dollars) non-refundable earnest money at time of purchase agreement execution.

5.  No Buyer contingencies of any kind are offered, nor will any be accepted.  These include but are not limited to appraisal, financing, home inspection & home sale.  Potential buyers are expected to have their financial arrangements secured prior to bidding.  Buyers who are unable to close because of insufficient funds will be in default and the earnest money will be forfeited.

6.  Property Inspection:  Each potential bidder shall be responsible for conducting, at their own risk, independent inspections, inquiries and due diligence concerning the property.  Each potential bidder shall be liable for any property damage caused by any such inspections or investigations.  Seller makes no warranty whatsoever about the property and specifically disclaims all warranties of fitness for a particular purpose or or any warranty of habitability.  Property sells in AS-IS condition.  

7.  Closing & possession date shall be on or before March 16, 2022 at Brule County Abstract, Chamberlain, SD.  The closing fee shall be divided equally between the buyer and seller.  

8.  Merchantable title shall be conveyed by Warranty Deed.  Owner's title insurance will be provided with the cost divided equally between buyer and seller.

9.  Property will be sold by legal description only.  Seller is not aware of any boundary issues.  Should Buyer need to have a survey completed, it shall be at their expense.

10.  2021 Real Estate taxes due and payable in 2022 will be paid by the Seller at closing.  2022 Real Estate taxes due and payable in 2023 shall be pro-rated to the date of closing based on the most current county information.  

11.  Chisum E. Peterson, Broker and Peterson Land & Auction LLC, Brokerage Firm, represent the Seller Only in this transaction.  

12. No Buyer's Premium on this auction.

13. The laws of the State of South Dakota governs this agreement. Any dispute arising from the terms of this auction shall be brought in a court of Brule County, South Dakota.

500 W Cedar Rd
Chamberlain, South Dakota 57325
United States

Not applicable

"Stately" and "sprawling" are the two words that best summarize this property! Offered by online-only auction, this beautiful, one-owner home is located on a nearly two acre lot in the town limits of Chamberlain, South Dakota! The home features a bright kitchen with breakfast nook, gorgeous formal dining room, living room with fireplace, master bedroom & bath along with two additional bedrooms and bathroom. The finished basement is a wide open space featuring living room with fireplace, kitchenette, full bathroom, huge storage room with potential for additional space! The three-stall, attached garage is finished & heated. Across the lot is a terrific 28' x 40' workshop that is finished & heated. The lot itself features beautiful, mature Black Hills & Colorado Blue Spruce trees and has abundant space for flower & vegetable gardening. After a few minutes in the backyard or around the workshop one feels more like they're in a rural area rather than in town! A property like this is almost an impossible find! 

Carefully review all descriptions, terms, conditions and documents.  All potential bidders must register and will be individually approved by the auction company.  More information, property data sheets, property disclosures, etc can be found under the "Documents" tab in the lot's detail.