Terms & Conditions:

Bidder Registration: Although there is no obligation to bid, all prospective buyers MUST register to bid at the auction. 

Down Payment: $10,000.00 per parcel non-refundable earnest money on purchase agreement day of auction. 

Closing: Buyers have the option of closing December 30, 2008 or January 6, 2009.  

Failure to close by the Buyer: If for any reason you are unable to complete the transaction, your down payment money will be forfeited.  

Title: Property will be sold free & clear from any & all liens & encumbrances, but subject to any zoning, environmental, or other municipal, federal & state laws, easements, rights of way or other matters of record. 

Seller & Auctioneers Disclaimer: All announcements made by the auctioneer shall take precedence over any previously written material or oral statements made. Conduct of the auction, increments of the bidding & decisions as to the high bidder will be at the direction & sole discretion of the auctioneer. The information contained in this brochure is subject to the inspection & verification by all parties relying on it; no guarantee, expressed or implied, is given of the information contained in the brochure. No liability for its accuracy, error or omissions is assumed by the owners or the agents. Property sells in “as is” condition and buyer will sign an “as is” addendum and a disclosure waiver. 

Terms: $10,000.00 per parcel non-refundable earnest money down due on purchase agreement the day of auction. Cash, personal, & company checks or certified funds will be accepted. Balance in full due on or before December 30, 2008 or January 6, 2009, the date of closing.  Buyers to have financing arrangements made prior to the auction with no contingencies of any kind accepted on day of auction. This property sells subject to the sellers confirmation.  An 8% buyers premium applies at this auction & shall be made part of the purchase price. Example: Bid price: $150,000.00 plus 8% buyers premium, Purchase price: 162,000.00.  1031 tax exchange language can be included in the purchase agreement at the buyers request, however, any 1031 tax exchange shall not alter the terms, conditions, or closing date of this transaction. 

Taxes: All the real estate taxes due in the year 2008 will be paid by the seller.  All taxes due in subsequent years shall be paid by the buyer.  The property classification for 2008: Full Homestead Agricultural.

Agency Disclosure: Fahey Sales Auctioneers & Appraisers and Edina Realty represent the seller in these real estate transactions. Dual agency may apply.

Broker Participation (accepted but not required): A 2% referral fee will be paid to the buyers agent that registers their client with the auction company prior to 5:00 p.m. Friday, November 21, 2008.  Buyers agents must accompany clients to all showings and/or open houses and to the auction to receive the referral fee.   Contact auction company or real estate representative or see supplement on the regional MLS for required registration forms.

For questions, please contact the Real Estate

representative for this transaction: 

Greg Witt, REALTOR     Edina Realty, Hutchinson office

320.587.3510