Unreserved Online Timed Real Estate Auction - Various Consignors    23FE

216± Acres Farmland - Ponoka County

216± Acres Farmland Selling Unreserved by Online Public Auction for Ruth Palm

Auction begins in :

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216± acres selling as one parcel, with approximately 104 acres currently in grain and hay land and the balance in grass pasture. This parcel, owned by the current owner for over 70 years, is located just north of the Blindman River and minutes from Rimbey with Highway 20 intersecting the property. This highly sought after land is shown as predominantly Number 2 soil in the Canada Land Inventory. Don't miss this opportunity to either add to your existing farm operation, buy as an investment, or start your own farm as there are several good options for potential yard sites with utilities close by for someone looking to build their own farm yard.

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Property Summary:

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Supporting Documents:

Property Information Package (PDF)

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Property Detail:

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Location

Directions:

6.1 Km south east of Rimbey on Hwy 20 to RGE RD 21

Legal

Note to Bidders

• When registering to bid you will be required to have a Letter of Confirmation of Funds from your bank. Letter of Confirmation must be on Bank Letterhead with your name & or company name & amount of funds you have access to that you wish to spend up to. This letter of confirmation will have to be emailed to TEAM Auctions.
• Internet Bidding Fees: 10% up to a max of $5,000 per item.
• If you are the successful bidder, to meet the obligations set by the federal government, you will be asked to verify your identification. You will also need to provide us with your lawyer info to complete the real estate transaction.
• Bidders must satisfy themselves as to the exact current acres, property lines and fence locations, building sizes, taxes and assessments, zoning and permitted uses & surface lease revenue details. Property titles are available upon request. The information provided is a guide only.

Highlights of Purchase Contract

Completion Day

Aug 01, 2023 Possession: Aug 1, 2023

Deposit

$50,000 bank draft or approved payment payable to Moores Agri-Trade Ltd. due from successful bidder upon close of bidding / signing of purchase contract. Cash and virtual currency will not be accepted.

Additional Terms

• The property sells as is with no warranties of any kind whatsoever as to the conditions or fitness of the Property, environmental or otherwise.
• No Real Property Report will be provided.
• Fences may or may not be on property lines.
• The grain and hay land is leased out for the 2023 crop year. Tenants will have full access to the land, to farm the land, until Nov 30, 2023, after which time the crops or any part thereof not removed will become the absolute property of the buyer.
• To ensure that the sale closes on Aug 1, 2023, the Seller will contribute up to $300 towards the cost of a Title Insurance policy.
• Seller will pay the 2023 property tax.

Partial Terms and Conditions

Unreserved and Reserved:

Some Real Estate may have reserved minimum bids. The Auctioneer, at its sole discretion has the right to or/not to advertise and/or notify the buyer as to whether the goods/and or Real Estate being offered in this auction are:

1. UNRESERVED: Meaning the seller has agreed to accept the highest bid regardless of price. In this case any items and/or livestock and/or Real Estate offered will sell to the highest bidder regardless of price.
2. RESERVED: Meaning the seller has set a minimum price that must be met in order for the Real Estate to be deemed "sold" to the buyer. This minimum "Reserved" price may be indicated to the buyer as a "Reserve Price", "Starting Bid" or as "Subject to Owners Approval" or "not indicated or advertised in any way".

   The seller and/or the auctioneer acting as the sellers agent may at any time:

   • remove the "Reserve Price" or “Starting Bid” at any time and deem this auction " Unreserved"
   • accept any bid, within 2 business days of the auction closing, that is lower than the "Reserve Bid"
   • counter offer; any buyer within 2 (two) business days of the closing of the auction.

   Your bid as a buyer will be recorded and will remain binding and in affect 2 (two) business days after such time the auction is closed.

   You the buyer acknowledges and agree that bidding at this auction is the legal equivalent of a firm commitment and irrevocable offer to purchase, unless otherwise prohibited by law or otherwise noted in these buyer terms. Once you have placed a bid and the bid is accepted by the auctioneer you are obligated to complete the transaction.

3. AGENT OF THE SELLER: Real Estate Brokerage acts only as agent of the seller and not as agent of the Buyer. They will provide prospective buyers with all facts known to the agent that will or may affect the marketability or value of the property.
4. NO WARRANTY: The Buyer shall accept the Property as-is where-is and specifically agrees that neither the Seller, Auctioneer or Realtor makes any representations or warranties of any kind as to the condition or fitness of the Property, environmental or otherwise, or any improvements thereon.
5. It is the RESPONSIBILITY OF ALL BIDDERS to review all information provided, including “Property Information Package” from the Real Estate Brokerage and the terms of this auction. All information provided is meant as a guide only. Bidders shall have satisfied themselves as to the descriptions, location and condition of the property prior to bidding. If clarification is required, it is the bidder’s responsibility to obtain clarification from Real Estate Brokerage prior to bidding.
6. GST: Bid price does not include any applicable GST unless announced otherwise by auctioneer.
7. DEPOSIT: Immediately at the close of bidding the successful bidder will make a NON REFUNDABLE deposit payable to the real estate brokerage (as listed in the Property Information Package) in the form of a bank draft or other approved payment. Amount is listed in Property Info Package/or as announced by auctioneer.
8. PURCHASE CONTRACT: The Real Estate Purchase Contract that applies to each property will be available for inspection prior to the auction. Title(s) will be clear of encumbrances except those which are to remain on the title. All bidders agree that, should their bid be accepted, they will complete and be bound by the terms of the purchase contract. Buyer will pay the balance of the purchase price to their lawyer on or before Completion Day. Possession will be in accordance with the terms of the Purchase Contracts. Note: These contracts will not be subject to any buyer’s conditions.

**TEAM SEKURA AUCTION MAIN SALE TERMS ALSO APPLY.