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SOLD

LAND AUCTION - 368+/- ACRES OFFERED IN 11 TRACTS IN NORMAN, OKLAHOMA

Norman, Oklahoma - Cleveland County, Oklahoma

Owner: David Price, LLC Tue, Jun 20, 2017

SOLD FOR $1,823,900

• 368+/- Acres offered in 11 Tracts from 20-46 acres • Building Sites • Small Acreages • Farmland in the Ten Mile Flats area of Norman • Online Bidding Available


Auction Info Book


OPEN HOUSE/INSPECTION DATES

May 16 & June 13, 10 AM - Noon
June 19, 3-6 PM

Meet a Schrader representative on Tract 4 for land tours

PROPERTY LOCATION

Take Exit 112 off Interstate 35 and travel west on Tecumseh Road for 2.5 miles and watch for signs at the intersection of Tecumseh Road and 60th Ave NW.

AUCTION LOCATION

Southwind Hills, 468 SW 24th Ave, Goldsby, OK 73093
Take Exit 106 off Interstate 35 and travel west on Hwy 9 past the Riverwind Casino. After approximately 1 mile, turn left onto SW 24th Ave (Santa Fe Ave) and follow for approximately 2.6 miles and gated entrance will be on your right.

PROPERTY DESCRIPTION


The Price Family Farm is located at the intersection of Tecumseh Road and 60th Ave NW in the Ten Mile Flats area of Norman, Oklahoma. Comprised of 368+/- acres, the farm will be offered in 11 tracts that range in size from 20+/- to 46+/- acres all having frontage on paved roads. Buyers will be challenged to find a property better suited for small acreages, home sites, horse facilities, farming operations or other small businesses so close to the commerce centers of Norman, Moore and the I-35 corridor. While bidding in the June 20th auction, Buyers will have the opportunity to bid on any individual tract or combination of parcels that best fit their needs.

TRACT DESCRIPTIONS

Tract 1: 20± ac located along Tecumseh Rd.

Tract 2: 20± ac located along Tecumseh Rd.

Tract 3: 20± ac located along Tecumseh Rd.

Tract 4: 20± ac located at the intersection of Tecumseh Rd and 60th Ave NW.

Tract 5: 42± ac located along 60th Ave NW.

Tract 6: 42± ac located along 60th Ave NW.

Tract 7: 41± ac located along 60th Ave NW.

Tract 8: 42± ac located at the intersection of 60th Ave NW and W Rock Creek Rd.

Tract 9: 30± ac located along W Rock Creek Rd.

Tract 10: 45± ac located at the intersection of W Rock Creek Rd and 72nd Ave NW.

Tract 11: 46± ac with an abundance of large, mature trees along 72nd Ave NW.


INTERACTIVE MAP

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURE: Tracts 1 through 11 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 to convey a merchantable title by Special Warranty Deed.

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 60 days after the auction or as soon thereafter as applicable closing documents are completed by Seller.

POSSESSION: Possession shall be given on September 30th, 2017.

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: Dave Price, LLC