Real Estate Auction - Multiple Consignors    24EI

Parcel 1: NE 5-55-14-W5 152.04± Deeded Acre Riverfront Farm with Grazing Lease

Riverfront on MacLeod River - 152.04 ± deeded acres farm+ 25.5 long term lease acres

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Riverfront land with 152.04± deeded acres (55022 RR 144A on Pt NE5-55-14-W5) & 25.5± acre long term grazing license (FGL 950012) on SE5-55-14-W5. Developed farm site with home, barn, workshop with living quarters, welding shop and large enclosed metal clad pole shed.

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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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Home Detail:

Services

Location

Directions:

DIRECTIONS: 55022 RR 144A - From Junction of Hwy 16 (Yellowhead Hwy) & Hwy 32, go north 14 km to Township Road 550A, Turn left (west) onto Twp Rd 550A , follow curve and continue for 3.1 km. Twp Rd 550A turns slightly and becomes RR 144. Property driveway will be on the left

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

May 31, 2024 The seller will contribute up to $400 towards the cost of a Title Insurance Policy for the benefit of the buyer and the buyer's lender (if financing is obtained). The policy is to be secured by the buyer. A Real Property Report will not be provided. This title insurance policy to also be used to ensure that the deeded land (NE5) transaction closes on May 31, 2024. Forest Grazing License closing is 31 Aug 2024

Deposit

$25,000 bank draft or approved payment payable to Moores Realty Ltd. due from successful bidder upon close of bidding / signing of purchase contract. Cash and virtual currency will not be accepted.

Conditions

NO CONDITIONS ALLOWED. 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. Buyers must know that their financing is in place prior to bidding.

Additional Terms

• The Property sells as-is with no warranties of any kind whatsoever & 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.
• The Seller has the legal right to sell the property.
• The Seller is not a non-resident of Canada for purposes of Income Tax Act (Canada)
• Fences may or may not be on property lines
• The seller will contribute up to $400 towards the cost of a Title Insurance Policy for the benefit of the buyer and the buyer's lender (if financing is obtained). The policy is to be secured by the buyer. A Real Property Report will not be provided. This title insurance policy to also be used to ensure that this transaction closes on completion date as perm Term 2.3
• Assignment of Grazing Lease to Buyer may take several months to complete. Buyer cannot put livestock onto lease until assignment is complete but if all assignment paperwork & fees are submitted and lease is in good standing the Assignor may request approval from the department to allow the assignee to graze the lease with assignee’s livestock. New leaseholders must be Canadian citizens over 18 years and must use the land to graze their own cattle or horses. They cannot re-assign the lease to another party for at least 3 years.

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.

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