TERMS:

REAL ESTATE AUCTION – GARY POLLARD ESTATE CALDWELL COUNTY LAND AUCTION

Thank you for your interest and participation in the United Country Real Estate – The O’Connor Agency’s (hereinafter The O’Connor Agency) multiple tract Auction. By bidding you are representing to The O’Connor Agency and the Seller that you have read and agree to be bound by all terms and conditions for this sale as stated herein. Any bid constitutes your agreement to be bound to the Offer to Purchase and Acceptance, acceptance of all related documents, and the Terms and Conditions of this Auction.

The property is being offered in an Online Only Auction. All bids are being subject to Seller’s Approval.

Online Bidders hereby agree that they must be properly registered for the online auction. Upon completing registration and receiving approval, bidding privileges will be turned on. If you need assistance with Registration you may contact Dan O’Connor at (816) 288-1116 or by email: midwestrealtypro@gmail.com. Sellers may at their sole discretion request additional registration requirements from any bidder unknown to them or The O’Connor Agency.

There are no existing farming or hunting leases.

FARM IS OPEN FOR THE 2024 GROWING SEASON.

EARLY POSSESSION FOR AGRICULTURE PURPOSES MAY BE GRANTED TO A WINNER BIDDER BY SELLER AT THEIR SOLE DISCRETION.Unless otherwise agreed to possession will occur upon close of escrow.

The property will be offered in multiple tracts: 1 – 6, as outlined on Exhibit A.

It is the sole responsibility of bidders to be familiar with the Online Auction and Bidding process. Live internet bidders are advised to have adequate internet connection due to the fast paced nature of this type of auction. 

All Bidders must be registered and approved the business day prior to Bidding Closing.

Under no circumstance shall Bidder(s) have a claim against the Sellers, The O’Connor Agency, or any party if Internet service fails to work correctly before or during the auction.

Online Bidding opens May 13^th, 2024 at 10:00 am

Online Bidding begins Closing May 17^th, 2024 at 10:00 am

The Auction will close utilizing a soft close, meaning any bid occurring in the final minute will extend the bidding approximately 5 minutes and continue as long as there is active bidding.

Closing/Settlement Date will be on or before June 20^th, 2024 at 5:00 pm  

Tracts 1, 2, 4, 5, and 6: Bids will be placed on a per acres basis (your bid multiplied by total acres)

Tract 3: Bidding on this tract (home and improvements) will be a total dollar amount.

Bidding Increments for Tracts 1, 2, 4, 5 & 6:

Starting at $0 bid increment $1000 per acre

Starting at $3000 bid increment $250 per acre

Starting at $5000 bid increment $100 per acre

Starting at $6000 bid increment $50 per acre

Starting at $7000 bid increment $25 per acre

All lines drawn on maps, photographs, etc. are approximate.

If adjoining tracts sell to different buyers, the seller will provide and pay for a staked survey prior to closing to divide these tracts, excluding tract 6. If the winner of one tract also wins an adjoining tract or tracts, a survey will be completed as necessary to established boundaries for the perimeter of the connected tracts. If the winning bidder of tracts 1—5 is the same, a survey will not be provided. Listed acres are deemed to be “more or less” unless survey is completed.

Final Total Contract Sales Price for any surveyed tract(s) will be calculated based on the winning bidder(s) price multiplied by the surveyed acres. If survey is not required calculation will be made using the listed acreage amounts.

A three percent (3%) Buyer’s Premium shall be added to the final bid price placed online, which will determine the Total Contract Sales Price. Bidders hereby understand that the Buyer’s Premium shall be added to the winning bid to create the Total Contract Sales Price for which they are obligated to pay for the property. (Winning bid is $100,000 + 3% Buyer’s Premium = $103,000 Total Contract Sales Price)

It is highly recommended for all bidders to personally inspect the property prior to placing any bids at auction. All inspections are the sole responsibility of the bidders with arrangements to be made through The O’Connor Agency. Appointments should be made through The O’Connor Agency at 816-632-3721.

All properties are being sold “AS IS, WHERE IS” with no other contingencies to sale and no warranties expressed or implied. Bidders should conduct their own due diligence and rely solely upon their own investigation and NOT information provided by the Seller or The O’Connor Agency. The failure of a bidder to be fully informed on the condition of a property will not constitute grounds for a claim of adjustment or cancellation.

The information provided and contained in any auction materials is believed to be accurate; however no liability for its accuracy, errors, or omissions is assumed.

The Offer to Purchase and Acceptance Agreement shall NOT be subject to financing, inspections, or any other contingency. Any party or bidder not known by the Seller or The O’Connor Agency may be required to show proof of funds or a Bank Letter of Credit. Failure to close will result in a forfeiture of earnest money, all sales are non-contingent.

Financing approvals must be secured prior to the auction. Property owner reserves right to accept or reject auction participants and/or bids.

The highest bidder(s) on each tract at the close of auction will be the successful bidder(s). 

Property Owner reserves the right to accept or reject the successful bidders' bid.

The successful bidder(s) will be required to make a deposit of ten percent (10%) of the Total Contract Sales Price (including Buyer’s Premium) as a non-refundable earnest money payment in the form of personal check, business check, certified funds, or wire all payable to Cameron Title Company located in Cameron, Missouri (any out of area check must be at the approval of The O’Connor Agency). That amount will be credited to the purchase price at time of closing with the remaining balance due at that time. Bidding and deposit are NOT conditional upon any Buyer contingencies.

Within 24 hours after Auction Closing the successful bidder(s) must complete and sign an Offer to Purchase and Acceptance Agreement and any other relevant paperwork provided by the seller or The O'Connor Agency within 24 hours (hand delivered, faxed, electronic signature, or scanned and emailed) and submitted to The O’Connor Agency. Seller shall have the right to accept or reject and any all bids. Once accepted the agreement shall be deemed binding to all parties, their successors, and assigns.

Any personal property items remaining at time of closing will become the property of the winning bidder.

The Seller will pay for and provide an Owner’s Title Policy at the time of closing. A Title Commitment has been provided as part of the auction information. Each buyer should review the Title Report and satisfy themselves of any Title Condition prior to bidding. Taxes for each Tract will be prorated for 2024. Buyer to pay their own closing fees to Title Company and lender fees if applicable.

You are entering a binding contract. There are no refunds or cancellations. The registered bidder is personally responsible, legally and financially, for all auction items bid upon whether representing oneself or acting as an agent. Any Bidder who fails to consummate a purchase may be pursued for civil and/or criminal violations.