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 $245,000 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 $245,000 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 August 6, 2021 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. 2020 Real Estate taxes due and payable in 2021 will be paid by the Seller at closing. 2021 Real Estate taxes due and payable in 2022 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. 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
Not applicable - No personal property.
Our office fields tons of phone calls each year for properties like this! Here is your opportunity to bid-and potentially own-a really nice acreage southwest of Chamberlain, SD! The home was built new in 1995 and features three bedrooms, two bathrooms, spacious living areas, tons of storage, large attached garage and a terrific back yard shop/dog kennel complete with large covered area. The condition of the home, buildings and grounds is excellent! This acreage is located less than three miles from the Chamberlain city limits and sits off a paved road. This property does not disappoint!
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.