Signing the Purchase Agreement and Down Payment

When bidding closes, the transaction moves quickly. Winning bidders don't leave the auction site with a handshake and a follow-up call scheduled — the paperwork begins immediately.

Signing the Purchase Agreement

All successful bidders are required to sign a Purchase Agreement at the auction site, immediately following the close of bidding. This is non-negotiable. The terms of the Purchase Agreement and any addendum are set in advance and are not subject to negotiation after the fact.

The seller retains the right to accept or reject bids before purchase agreements are fully executed — though in practice, most auctions are structured as absolute or with a disclosed reserve that has already been met.

Submitting the Down Payment

At the time of signing, buyers must submit a 10% down payment. Accepted forms of payment include:

• Cash
• Cashier's check
• Personal or corporate check that is immediately negotiable

This down payment is not refundable in the event of a buyer's failure to close. Because bidding is never contingent upon financing, buyers must arrive on auction day with their funding already in place.

Immediate Farming Possession

If a buyer wishes to take immediate farming possession of the land — rather than waiting for the formal closing — some auction terms allow this with an additional 10% down payment at signing, bringing the total deposit to 20%. Buyers interested in this option should confirm availability in the auction brochure beforehand.