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!
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 $250,000 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 $250,000 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 $7500 (Seven Thousand Five Hundred 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 July 26, 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. The listed legal description may change prior to closing as a portion of the property being sold is on the legal description of adjoining property of the same owner. Property will be surveyed prior to closing and the cost divided equally between the buyer and seller. Seller is not aware of any boundary issues.
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.
Chamberlain, South Dakota 57325
Wow! Big time opportunity here on a property type we get a ton of calls for and rarely have any for sale! Check out this rural, log home on 11.28 acres set in the river bluffs southeast of Chamberlain, SD. Located less than 10 miles from downtown Chamberlain, this home is ready for you to update with your personal touches and make it into your dream piece of real estate. The main floor features an open floor plan with the kitchen, dining and living room. A master bedroom, master/main bathroom, main floor laundry and enclosed front entry round out the main level space. The lower level walkout features a large family room, two bedrooms, bathroom, mechanical room and hot tub room! The home features tons of windows to the enjoy the natural light and amazing scenery. The property has significant amount of flat, buildable space for the shop, barn, home addition or whatever you can dream up! If you are serious about a river view property in the country, don't miss this auction!