TERMS AND CONDITIONS OF AUCTION

Live and Online Bidding

112.6 ac +/- Howard County

1. LIVE BIDDING:  United Country Missouri Land & Home will offer this property for public auction on Tuesday, November 29th, 2022.  Auction location will be at Isle of Capri – Boonville, located at 100 Isle of Capri Blvd, Boonville, MO 65233. At 10:30 AM, the property will be offered in a live and online format. Conduction of the auction and increments of bidding are at the direction and discretion of United Country Missouri Land & Home and/or the auctioneers.  If a tie or dispute occurs between two or more bidders, the Auctioneer may re-open the bidding at the Auctioneer’s sole discretion and shall serve as the sole arbiter as to who is or is not allowed to bid.  The Auctioneer reserves the right to reject any bid which is only a fraction advance over the preceding bid, to regulate bidding and to accept or reject any or all bids.  The Auctioneer reserves the right to enter bids on behalf of absentee/phone bidders as well as the Sellers.  Any and all decisions of the Auctioneer regarding the conduct of the auction shall be final and absolute without liability to any party.  Each bid shall constitute an offer to purchase, and the final bid, if accepted by the Sellers, shall constitute a binding contract between the Buyer and Sellers.  

2. BIDDING REGISTRATION: This is a live and online auction. You will need to register in person to bid for live bidding and agree to all terms. If you choose to bid online you will need to register online to bid and agree to all terms.   By registering, all bidders acknowledge having read and agree to be bound by the Auction Terms and Conditions. IF YOU HAVE NOT READ AND REVIEWED THE TERMS FOR SALE OF REAL ESTATE, DO NOT BID.
 3. ONLINE BIDDING: (i.e. Internet Auction Bidding) by United Country Missouri Land and Home The online auction and the online bidding shall begin on Monday, November 28th, 2022 at 9 am CST. Online bidding will run concurrent to live bidding. Bid at www.MissouriLandAndHome.com.  

4. SERVER & SOFTWARE TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, United Country Missouri Land and Home reserves the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor UNITED COUNTRY MISSOURI LAND AND HOME AND OR AGENTS AND EMPLOYEES SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. 
5. FINANCING: By participating in this auction, bidders hereby agree that their bid shall NOT BE SUBJECT to the bidders’ ability to obtain financing.  By placing a bid in this auction, bidders understand that financing is NOT a contingency in the purchase agreement.

6. APPROVAL OF BIDS:  Seller is serious about selling this property at this auction, but does reserve the right to accept or reject the final bid on this property. Each bid shall constitute an offer to purchase, and the final bid, if accepted by the seller, shall constitute a binding contract between the Buyer and the Sellers.  The successful bidder must enter into a purchase agreement the day of the auction, immediately following the conclusion of the bidding.  

7.  ACCEPTANCE OF FINAL BID: Winning bidder hereby agrees to enter into a Contract to Purchase the property immediately following the auction and being declared the Successful Bidder by the Auctioneer.

8. DEED AND EVIDENCE OF TITLE: Seller will pay the cost of title insurance in the amount of the selling price and Seller will deliver title by General Warranty Deed. Informational title commitments reflecting the public record will be made available for potential buyer for review on day of auction or, by request, earlier. 

9. PROPERTY / TITLE INSPECTION: It is recommended to all bidders to inspect the property prior to placing any bids in the auction.  Property viewing day will be November 1st, 2022, 3PM-5PM. Property inspections are the responsibility of the bidders.  Informational title work will be available online by November 1st, 2022.

10. DOWN PAYMENT / ESCROW: An escrow deposit of Ten Percent (10%) of the total contract purchase price must be received by Monarch Title in Boonville, MO within 24 hours of the close of the auction.  Acceptable forms of payment include cashier’s check, personal, corporate check or wire transfer.  The balance will be due in full at closing, in certified funds, on or before the date of closing.  Contracts will contain no financing or inspection contingencies and Buyer must have their own financing and make their own inspections prior to bidding at this auction.   

11. CLOSING & CLOSING COSTS: Closing shall be on or by December 29th, 2022 at Monarch Title, Boonville, MO. Out of area buyers will be afforded the opportunity to close via email, mail and wire transfer of certified funds.  Title commitment and owner’s policy will be paid by the Seller.  Seller will deliver title by General Warranty Deed.  Buyer will be responsible for their own mortgage policies or exchange fees (if applicable).  Customary closing fees in the county where the property is located will apply to both Seller’s and Buyer’s transactions accordingly.  

12. TAXES: 2022 Real Estate Taxes will be paid by seller. Real Estate Taxes $228.61 per year, Levee and Drainage District Taxes $1,239.00 per year.

13. POSSESSION: Purchaser shall receive possession of the property after crop harvest. 

14. EASEMENTS: The property is being sold subject to all easements, covenants, conditions, zoning and any other existing matters.

15. MINERAL RIGHTS: All mineral rights owned by the Sellers will be conveyed to the Buyer.

16. HOLD HARMLESS: Buyer and or Bidder agrees to hold harmless and indemnify United Country Missouri Land and Home and its Agents, Owners, and/or Employees and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.

17. AUCTION DISCLAIMER: Announcements made by United Country Missouri Land & Home and/or their auctioneers during the time of the sale take precedence over any previously printed materials or any other oral statements made.  The information in this brochure is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed.  All lines drawn on maps, photographs, etc. are approximate.  Neither the Seller nor United Country Missouri Land & Home or the Auctioneers or Associates are giving any warranties other than the Seller’s Title Warranty. Buyers should verify all information to their satisfaction.  Please make all inspections and have financing arranged prior to the end of bidding.  Information is subject to change without notice. Real estate is being sold “As-Is-Where-Is” and buyer should take time to examine this property thoroughly and rely on their own judgment.  The property is being sold subject to all easements, covenants, conditions, zoning and any other existing matters.  Neither the Seller nor United Country Missouri Land & Home or the Auctioneers or Associates or Employees are giving any warranties other than the Seller’s Title Warranty.   Please call our office at 800-895-4430 if you have any questions.

18. SPECIAL NOTES: Please call Eric Hollenberg, Listing Agent at 573-253-1928 if you have any questions or would like a tour.

Seller: JEL Enterprises