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REAL ESTATE AUCTION - 296+/- ACRES OFFERED IN 2 TRACTS IN WOODS COUNTY, OKLAHOMA

Near Alva, Oklahoma - Woods County, Oklahoma

Owner: Meyer Trust Tue, Jul 24, 2018

SOLD FOR $644,800

• 296+/- Acres offered in 2 Tracts • Highway 281 Frontage • Grant Silt Loam & Pond Creek Silt Loam Soils • Creek Bottom Lined with Mature Trees • 8 Miles North of Alva • Online Bidding Available


OPEN HOUSE/INSPECTION DATES

Monday, July 2 from 9-11 AM
Monday, July 16 from 9-11 AM

Meet a Schrader Representative at the Property

PROPERTY LOCATION

From intersection of Highway 281 and Highway 64 turn north, travel for 8 miles and property will be on your right.

AUCTION LOCATION

Holiday Inn Express, 1230 E Oklahoma Blvd, Alva, OK 73717
Directions to Auction Site:
Located just east of Highway 281 and Highway 64 intersection.

PROPERTY DESCRIPTION

Quality 296+/- acre farm, with 266.9 tillable acres per FSA, located off Highway 281 just north of Alva, Oklahoma. Primary soil types on the farm of Grant Silt Loam, Pond Creek Silt Loam and Milan Loam. The farm has good, level topography with a creek bottom lined with mature cottonwood trees running east to west. The property will be offered in two tracts, Buyer may bid on either individual tract or the farm as a whole.

TRACT DESCRIPTIONS

Tract 1: 150± ac that is nearly all tillable. Primary soil types are Grant Silt Loam, Milan Loam and Woodward-Deepwood Complex. Tract 1 is located at the intersection of Highway 281 and Leflore Road.

Tract 2: 146± ac that are approximately 79% tillable per FSA, with the balance comprised of a creek bottom lined with mature cottonwood trees. Primary soil types are Pond Creek Silt Loam and Buford Silt Loam.

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURE: Tracts 1 through 2 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 Trustees 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 targeted closing date will be approximately 30 days after the auction or as soon thereafter as applicable closing documents are completed by Seller.

POSSESSION: Possession of the land shall be at closing. Pre-Closing access for farming activities is available with execution of the pre-closing access agreement.

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.

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

Auction Brochure

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