Home / Auction Info

LAND AUCTION - 153+/- ACRES OFFERED IN 6 TRACTS IN OKMULGEE, OKLAHOMA

Okmulgee, Oklahoma

Wed, May 8, 2019

AUCTION IS OVER

• 153+/- Acres offered in 6 Tracts • Adjacent to OSU Tech Campus • Development Potential • US Highway 62 Frontage • Multiple Access Points • ONLINE BIDDING AVAILABLE You may bid online during the auction at www.schraderauction.com. You must be registered One Week in Advance of the Auction to bid online. For online bidding information, call Schrader Auction Company at 800-451-2709.


Information Booklet - UPDATED 5-7-19


OPEN HOUSE/INSPECTION DATES


Tuesday, April 9 from 9-11AM
Tuesday, April 23 from 9-11AM

PROPERTY LOCATION

From the intersection of US Hwy 75 and US Hwy 62 in Okmulgee take US Hwy 62 east for approximately 1 mile, property will be located on your left.

AUCTION LOCATION

Best Western, 3499 N Wood Dr, Okmulgee, OK 74447 Located along the east side of US Hwy 75 on the north end of town.

PROPERTY DESCRIPTION

Located within the City Limits of Okmulgee and adjacent to the Oklahoma State University Institute of Technology, this property offers a lot of potential for investors. With 153.73 acres being offered in 6 individual tracts, there is an investment opportunity in this auction for multiple types of Buyers in the market. The property has frontage on the north along E 4th Street and US Highway 62 on the southern boundary, along the east and west sides are numerous access points provided by city streets. Multiple ponds are present on the property, which could make very attractive water features. Mature timber, open grassy areas and dense foliage make up the balance of the property, creating an opportunity for a very private setting within city limits. Buyers can bid on any individual tracts or combination of parcels that best fit their needs!

TRACT DESCRIPTIONS

Tract 1: 12± ac located along E 4th Street on the north end of the property, across the street from Oklahoma State University Institute of Technology.

Tract 2: 21± ac located on the north end of the property with access from E 9th Street and a nice pond along the east boundary.

Tract 3: 32± ac located in the center of the property with access from E 11th street that has a balance of dense timber and open trails throughout the property.

Tract 4: 27± ac located along the western side of the property, which is accessed by Crestview Drive.

Tract 5: 26.7± ac located along the eastern side of the property that is accessed by Timbercrest Avenue in the adjoining residential development.

Tract 6: 35± ac with approximately 1,325 feet of frontage along US Highway 62 and an access point from E. Southbrook Avenue to the east of the property.

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURE: Tracts 1 through 6 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: A 4% Buyers Premium will be added to the final bid price and included in the contract purchase price.

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 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 45 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.

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.