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STILLWATER LAND AUCTION - 17.6+/- ACRES OFFERED IN 4 TRACTS IN PAYNE COUNTY, OKLAHOMA

Stillwater, OK

Thu, Jul 29, 5:00 PM

• Development Potential • Paved Road Frontage • Large Mature Trees • Excellent Potential Building Sites • 51 East Water Available


Auction Info Book


OPEN HOUSE/INSPECTION DATES

Friday, July 16th from 8am-10am
Wednesday, July 28th from 8am-10am

PROPERTY LOCATION

Property is located at the intersection of Fairgrounds Road and 19th Avenue, watch for signs

AUCTION LOCATION

Payne County Expo Center
4518 Expo Circle, Stillwater, OK 74075

PROPERTY DESCRIPTION

Outstanding opportunity to acquire a unique building site or invest in land with development potential in the Stillwater area. This property is easily accessible from Fairgrounds Road and 19th Avenue. Take your pick from 4 tracts! Each having great views, have been recently mowed and are lined with mature trees on the eastern edge of the property. Buyers may place bids on any individual tract, combination of tracts or the entire property!

TRACT DESCRIPTIONS

Tract 1: 4.4± ac located at the intersection of Fairgrounds Road and 19th Avenue, excellent corner tract!

Tract 2: 4.4± ac located along Fairgrounds Road, great view looking west!

Tract 3: 4.4± ac located along Fairgrounds Road, excellent views and trees on this tract!

Tract 4: 4.4± ac located along Fairgrounds Road, with an active water meter installed and single-phase electric present. This is an outstanding tract with huge Oak trees, seclusion and a wonderful view. There is an older home on the property, which has not been occupied for many years and is in need of demolishment or substantial repair.

TRACT MAP(S)

AREA MAP(S)

PROCEDURE: Tracts 1 through 4 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.

BUYER'S PREMIUM: The contract purchase price will include a Buyer's 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 cashier's 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 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 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" shall not include any mineral rights.

ACREAGE AND TRACTS: All acreages, dimensions and square footages are approximate and have been estimated based on current legal descriptions, property tax records 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 person's 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.