ALL PARTIES INTERESTED IN BIDDING ONLINE WILL NEED TO BE MANUALLY APPROVED TO BID BY THE AUCTION COMPANY. PLEASE READ THE TERMS & CONDITIONS OF THE AUCTION TO SEE THE REQUIREMENTS TO BE APPROVED TO BID. ONLINE BIDDERS NOT APPROVED BY AUCTION START TIME RISK NOT BEING ABLE TO BID ONLINE DURING THE AUCTION.
Persons only wanting to watch/view the auction DO NOT need to be logged in or have an account.
The combination of Tracts 1-3. 473.39 +/- acres. 240.14 +/- acres tillable, 187.72 +/- acres pasture, 16.94 acre building site and the balance in shelterbelts and ROW. This combined property has been operated as a single unit for many years, has excellent access and good soil profile. The property will be sold in the manner that generates the most revenue for the seller.
All potential ONLINE bidders will need to be approved by the Auction Company prior to bidding using the following requirements/terms.
All prospective purchasers that have no prior real estate purchase/business history with Peterson Land & Auction LLC shall be required to submit a letter of credit/guarantee or proof of funds from an FDIC insured lending institution or financial services company prior to being approved to bid. Peterson Land & Auction LLC and the Seller shall have absolute discretion and authority to qualify or not qualify potential bidders. If you have any question as to your ability to bid, contact our office in advance of the auction.
- Buyer and Seller agree to execute a written purchase agreement within 24 hours of auction closing.
- Non-refundable deposits in the amount of 15% (Fifteen Percent) of the final selling price shall be tendered by the purchaser at time of purchase agreement execution.
- No Buyer contingencies of any kind are offered, nor will any be accepted. These include but are not limited to financing, appraisal, and inspections. 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.
- 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 any warranty. Property sells in AS-IS condition.
- Closing date shall be on or before May 31, 2023, at Platte Title Company, Platte, SD. The closing fee shall be divided equally between the buyer and seller. Merchantable title shall be conveyed by Warranty Deed. Owners title insurance will be provided with the cost divided equally between buyer and seller.
- The ag land sells subject to the current farm lease which expires December 31, 2023. The annual farm lease total is $40,800. The first half rent will be paid April 1 and will be credited to the purchaser at closing. The second half rent-due October 1-will be the new owner’s responsibility to collect from the tenant. In the event the property is sold as three individual tracts, the following rental amount totals will be used: Tract 1: $12,200; Tract 2: $14,300; Tract 3: $14,300. The residence on Tract 1 is also subject to a separate, oral, month-to-month lease. The residence tenant pays $300 per month and is responsible for all utilities-except water.
- 2022 Real Estate taxes due and payable in 2023 will be paid by the Seller. 2023 Real Estate taxes due and payable in 2024 shall be the responsibility of the purchaser based on the most current county information.
- Chisum E. Peterson, Broker and Peterson Land & Auction LLC, Brokerage Firm, represent the Seller Only in this transaction.
- No Buyer Premium on this auction.
- 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.
Live auction with internet bidding available! Detailed auction information, photos, maps and more are available by clicking on the "DOCUMENTS" tabs.
Mark your calendar and plan on joining us for this well-located, diversified farm property located four-and-a-half miles east and one mile south of Platte, SD! Presently, the land consists of 240 acres under cultivation, a 17 acre farm site, and the balance of the property in pasture. The property is located 1 mile from paved highways in both directions! The land will be sold subject to the current one-year lease agreement with purchaser receiving the rent income for 2023! The property will be offered in three individual tracts and one combination. The land will be sold based on surveyed acres.