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 $150,000 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 $150,000 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 $5000 (Five Thousand dollars) non-refundable deposit 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 August 22, 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
RARE FIND ON THE RIVER!
Here is something you don't get a chance at very often! We are pleased to bring this great property to the market by online only real estate auction! "River Street" is one of the most appropriately named streets and coveted addresses in Chamberlain, South Dakota for the simple fact you are (literally) on the bank of the Missouri River - Lake Francis Case. Stunning views of the water, historic Old 16 bridge, west river hills and more are just out your back door! The home features a master bedroom/master bath with two additional bedrooms and bathroom. The second bath features a walk-in tub! Other features include open floor plan, lawn irrigation system, backyard storage shed, newer decks and ramp access to the front door. Contact us to setup your private showing of this great property!
Bidding opens July 6 and closes July 13 at 6 pm CDT! All bidding takes place online.
Click the "Terms" icon to familiarize yourself with the requirements to be approved to bid.