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LAND AUCTION - 105+/- ACRES OFFERED IN 8 TRACTS IN LE FLORE CO., OKLAHOMA

Near Wister, Oklahoma - Le Flore County, Oklahoma

Owner: Lowrey Ranch Tue, May 23, 2:00 PM

• 105+/- Acres in 8 Tracts from 8+/- to 22+/- acres • Multiple Building Sites • Recreational Land • Pasture Land • Fenced Pasture • Mature Trees • Rolling Landscape • Online Bidding Available


OPEN HOUSE/INSPECTION DATES

Monday, April 24 & May 15 from 10 AM to Noon
Meet a Schrader Representative on Tract 2

PROPERTY LOCATION

From intersection of Hwy 59 and Hwy 271 in Poteau, travel south on 271 for approximately 7 miles and property will be on your right.

AUCTION LOCATION

Donald W. Reynolds Community Center, 105 Reynolds Ave., Poteau, OK 74593
DIRECTIONS:
From the intersection of Hwy 271 and Hwy 59 in Poteau, travel north on Broadway St for 2 miles and the Reynolds Center will be on your right.

PROPERTY DESCRIPTION

With a combination of mature trees, gently rolling terrain, ponds and fenced open pasture, the Lowrey Ranch has something to offer for a variety of Buyers. This is an exciting opportunity to acquire building sites and small acreage tracts between Poteau and Wister, an area where quality land rarely comes to market. This auction has a variety of parcels for different types of Buyers, with tracts ranging in size from 8+/- to 22+/- acres. Place a bid on any individual parcel or combination of tracts that best fit your needs.

TRACT DESCRIPTIONS

Tract 1: 10± ac at the intersection of Hwy 271 and 370th Street, outstanding potential building site with visibility off the highway.

Tract 2: 15± ac with frontage along 370th Street, great elevation, good views and a nice potential building site with a small pond.

Tract 3: 20± ac with approximately 1000 feet of frontage along Hwy 271. This parcel is a mixture of trees and open pasture with plenty of potential building sites.

Tract 4: 22± ac with frontage along 370th Street, great mixture of trees and open pasture that gently slopes downward to the south for a great views that includes a pond.

Tract 5: 8± ac with frontage along 370th Street, very good elevation on this parcel with views to the south.

Tract 6: 8± ac at the intersection of 370th Street and Pleasant Valley Road, great elevation and potential building sites on this parcel.

Tract 7: 12± ac with frontage on Pleasant Valley Road, great mix of open pasture and mature trees on this parcel.

Tract 8: 10± ac located in the SE/4 of Section 4, Township 6 North. This parcel is land locked and does not have established access. If you plan to purchase this tract you need to be an adjoining landowner with existing legal access or have arranged an access agreement with an adjoining land owner.

TRACT MAP(S)

Southwest

Northeast

AREA MAP(S)

PROCEDURE: Tracts 1 through 8 will be offered in individual tracts, in any combination of these tracts, or as a total unit per auction date and time. There will be open bidding on all tracts and combinations during the auctions as determined by the Auctioneer. Bids on tracts, tract combinations and the total property may compete. The property will be sold in the manner resulting in the highest total sale price.

BUYERS PREMIUM: The contract purchase price will include a Buyers Premium equal to 4% of the bid amount.

DOWN PAYMENT: 10% of the total contract purchase price will be due as a down payment on the day of auction, with the balance due in cash at closing. The down payment may be made in the form of cashiers check, personal check, or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.

APPROVAL OF BID PRICES: All successful bidders will be required to enter into purchase agreements at the auction site immediately following the close of the auction. The auction bids are subject to the acceptance or rejection by the Seller.

DEED: Seller shall be obligated only to convey a merchantable title by Individual Deed, Without Warranty.

EVIDENCE OF TITLE: Seller agrees to make available to bidder a preliminary title insurance commitment to review prior to auction. The cost of title insurance, if the buyer(s) elects to purchase the title insurance policy, will be the responsibility of the buyer(s). Seller agrees to provide merchantable title to the property subject to matters of record, general conditions of title, and similar related matters. All tracts sold AS-IS.

CLOSING: The closing shall take place 45 days after the auction or as soon thereafter as applicable closing documents are completed by Seller.

POSSESSION: Possession of the land shall be giving at closing, subject to rights of current tenant.

REAL ESTATE TAXES: Real Estate taxes shall be prorated to the date of closing.

MINERALS: Seller specifically excepts and reserves all minerals, including without limitation, oil, gas, coal, coalbed methane, and all other hydrocarbons, lignite, and all metallic minerals, etc., if any, associated with the referenced real estate, and the term Property will not include any mineral rights.

SURVEY: The Seller shall provide a new survey where there is no existing legal description or where new boundaries are created by the tract divisions in this auction. Any need for a new survey shall be determined solely by the Seller. Seller and successful bidder shall each pay half (50:50) of the cost of the survey. The type of survey performed shall be at the Sellers option and sufficient for providing title insurance. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres, if a new survey is determined to be necessary by the Seller.

ACREAGE AND TRACTS: All acreages are approximate and have been estimated based on current legal descriptions and/or aerial photos. Any corrections, additions, or deletions will be made known prior to the auction.

AGENCY: Schrader Real Estate and Auction Company, Inc. and their representatives are exclusive agents of the Seller.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on an AS IS, WHERE IS basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. All decisions of the Auctioneer are final. ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.

NEW DATE, CORRECTIONS AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes or additions to the property information.

Owner: Lowrey Ranch, LP

Auction Brochure

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