A 7% Buyer's Premium will be added to the final Sales Price. All applicable taxes will be assessed based on the sum of the sales price and buyer's premium.
Closing and possession will be on or before December 10th, 2020 as this land is free and clear for the 2021 farming season as this property is leased until December 31st, 2020. Possession of the farm site (Tract 3) will be given January 1st, 2021. In the event there are different buyers between Tract 2, 3, and 4 there will be an access easement (for tract 3 over tract 4) and drain tile easement (Tract 2 & 4 over Tract 3) put in place at the time of closing to ensure future access, outlets, and maintenance. Upon acceptance of the sale by the seller, a non-refundable earnest money deposit equal to 10% of the sale price due at the conclusion of the auction. If buyer is not immediately available at the conclusion of the auction, the purchase agreement and non-refundable earnest money deposit must be complete within 24 hours from the close of the auction. The balance will be due at closing. Merchantable title will be conveyed, and title insurance cost will be divided 50-50 between the buyer and seller. Closing costs are to be split 50-50 between buyer and seller. The 2019 RE taxes due and payable in 2020 will be paid by the seller. The 2020 taxes payable in 2021 will be paid by the seller as a credit at closing based on most current tax information. The seller does not warranty or guarantee that existing fences lie on the true boundary, and any new fencing will be the responsibility of the purchaser pursuant to MN statutes. FSA yields, bases, payments, and other information is estimated and not guaranteed and are subject to County Committee Approval. Information contained herein is deemed to be correct but is not guaranteed. Sold subject to existing easements, restrictions, reservations, or highways of record, if any, as well as any or all Lincoln County Zoning Ordinances. A survey will not be provided for Tract 1 and will be the purchaser’s responsibility if needed or requested, but a survey/plat will be conducted for the farm site (Tract 3) in the event there are different buyers on the crop land (Tracts 2 & 4), the cost will be split equally between buyers and sellers. The buyer on Tract 3 (farm site) will be responsible for updating the septic system if they intend to live on the site. The RE licensees in this transaction stipulate that they are acting as agents for the seller. Announcements made day of sale take precedence over any written materials. Said property is sold as is. This is a cash sale. Subject to a 5% Buyer’s Premium. This sale is subject to seller confirmation. Not responsible for accidents.