Chicot County, AR, Ashley County, AR,
2007.84 Acres M/L
Lake Village, AR 46349
Lake Village, AR 46349
| Price | Click to Bid Online |
| Listing | #15522 |
LAND AGENT & AUCTIONEER
Joel King, ALC, CAI
Office: 870.275.6249
Mobile: 870.847.0945
Joel@PeoplesCompany.com
Property Info
Description
Legal Description
- Sign On Property: Yes
- School District: Lakeside School District
- General Area: West of Lake Village, Arkansas
- Zoning: Agricultural
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Interactive Map
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Tracts
Description
Details
- Acres: 166.01 Acres M/L
- Net Taxes: $1,487.18
Directions
Description
Details
- Acres: 238.00 Acres M/L
- Parcel Number: 010-05284-000
- Net Taxes: $716.91
Directions
Description
Details
- Acres: 76.54 Acres M/L
- Parcel Number: 010-05360-000
- Net Taxes: $563.50
Directions
Downloads
Description
Details
- Acres: 237.00 Acres M/L
- Parcel Number: 010-05443-000, 010-05441-000, 010-05451-000, 010-05439-000, 010-05442-00
- Net Taxes: $1,107.22
Directions
Downloads
Description
Details
- Acres: 276.85 Acres M/L
- Parcel Number: 010-05469-001, 010-05480-000
- Net Taxes: $1,591.60
Directions
Downloads
Description
Details
- Acres: 420.38 Acres M/L
- Parcel Number: 010-05473-002, 010-05475-000, 010-02969-000
- Net Taxes: $815.58
Directions
Downloads
Description
Details
- Acres: 304.05 Acres M/L
- Parcel Number: 010-05404-001, 010-05413-001, 010-05506-000
- Net Taxes: $936.39
Directions
Downloads
Description
Details
- Acres: 209.01 Acres M/L
- Parcel Number: 010-04645-000, 010-04619-000
- Net Taxes: $204.56
Directions
Downloads
Description
Details
- Acres: 80.00 Acres M/L
- Parcel Number: 010-05370-001
- Net Taxes: $132.48
Directions
Bid Now
Auction Details & Terms
Chicot & Ashley County Land Auction
2,007.84 Acres M/L
Thursday, July 8th, 2021
10:00 AM (CST)
Auction Location
Lake Village Country Club
3311 Lakeshore Drive North
Lake Village, AR 71653
AUCTION METHOD: The property will be offered via the “Choice Auction Method”. The winning bidder may elect to take an individual tract or any combination of tracts. All bids will be on a price per acre basis. The Seller and Auction Company reserve the right to stop any person from bidding if there is any question as to the person’s credentials, fitness to bid, etc. Conduct of the auction and the increments of bidding are at the discretion of the Auctioneer. The Auction Company reserves the right to enter bids on behalf of qualified telephone bidders and proxy bidders. The tracts will be offered as follows:
Tract 1 166.01 Acres M/L
Tract 2 238 Acres M/L
Tract 3 76.54 Acres M/L
Tract 4 80 Acres M/L
Tract 5 237 Acres M/L
Tract 6 276.85 Acres M/L
Tract 7 420.38 Acres M/L
Tract 8 304.05 Acres M/L
Tract 9 209.01 Acres M/L
BIDDER REGISTRATION: All prospective bidders must register with Peoples Company and receive a bidder number in order to bid at the auction. AGENCY: Peoples Company and its representatives are agents of the Seller. Winning bidder(s) acknowledge they are representing themselves in completing the auction sales transaction.
BROKER PARTICIPATION: A broker representing a Bidder (“Cooperating Broker”), who qualifies under Seller’s and Peoples Company’s broker incentive program requirements, will be paid under the terms of the program at the Closing of a subject tract of the Property. A Cooperating Broker must complete the registration form with Peoples Company, as required for this incentive program, 48 hours PRIOR to the Cooperating Broker’s client requesting to bid in the auction. A Cooperating Broker registration form with complete instructions will be made available upon request by contacting the listing agents.
FARM PROGRAM INFORMATION: Farm Program Information is provided by the Chicot and Ashley County Farm Service Agency (FSA) and Natural Resources Conservation Services (NRCS) offices. The figures stated in the marketing material are estimates of the Seller and Peoples Company; however, the Farm Program Information, base acres, crop acres, conservation plan, etc. are subject to change when the farms are reconstituted by the Chicot and Ashley County FSA and NRCS offices.
MINERAL RIGHTS: A mineral title opinion will not be obtained or provided, and there are no guarantees as to the ownership of the mineral interests on all tracts. Seller will convey one hundred (100%) of whatever mineral rights are owned by the Seller without warranty.
SURVEY: A survey will not be required to split and transfer the property. No survey or staking will be paid by the Seller. Financing: The sale of the property is not contingent upon Buyer obtaining financing. All financing arrangements are to have been made prior to bidding at the auction. By bidding, the bidder makes a representation that he/she has the present ability to perform at the bid price and will fulfill all obligations within the Real Estate Sale and Purchase Agreement.
CONTRACT & TITLE COMMITMENT: Immediately upon conclusion of the auction, the winning bidder(s) will enter into a Real Estate Sale and Purchase Agreement and deposit the required earnest money payment. The Seller will provide the Buyer(s) with a current Title Commitment and, at closing, an Owner’s Policy in the amount equal to the purchase price of each respective tract(s). All regular title insurance premiums, title, or abstracting fees and title company/closing agent fees or costs shall be split 50% to the Seller and 50% to the Buyer of each tract. Any ‘additional selections’ required by the Buyer(s) on the title insurance shall be the responsibility of the Buyer. Property will be transferred via Special Warranty Deed.
EARNEST MONEY PAYMENT: A 10% earnest money payment is required on the day of the auction for each tract. The earnest money payment may be paid in the form of cash, good check, or by wire transfer. All funds will be made payable to and held by the escrow agent, Southeast Arkansas Title & Escrow Company, Inc.
CLOSING: Closing will occur on or about August 12, 2021. The balance of the purchase price will be payable at closing in the form of cash, certified check, or wire transfer. With respect to the timing of the Seller and successful Buyer(s) in fulfilling the obligations set forth in the Real Estate Sale and Purchase Agreement, time is of the essence.
REAL ESTATE TAXES: The real estate taxes will be prorated between the Seller and Buyer(s) to the date of closing.
POSSESSION OF THE LAND: All tracts are subject to a farm lease. Possession of each tract will occur following harvest and removal of the 2021 crop. Seller shall be entitled to 100% of the rental income attributed to the land and 2021 lease term.
FARM INSPECTION: Each potential bidder is responsible for conducting, at their own risk, the independent inspections, investigations, inquiries, and due diligence concerning the Real Estate. Inspections of the Assets must be arranged by contacting the Auction Company. Each potential bidder shall be liable for any property damage caused by such inspections or investigations. Invasive testing is prohibited without prior written consent of the Seller.
DISCLAIMER: All field boundaries in the marketing material are presumed to be accurate according to the available information and knowledge of the Seller and Peoples Company. Tract acres, tillable acres, soil descriptions, etc. may vary slightly from the figures stated in the marketing material and will be subject to change. Bidder(s) and their tax, legal, and/or other advisors should perform their own investigation of the property prior to bidding at the auction. The brief legal descriptions in the marketing material should not be used in legal documents. The Real Estate Sale and Purchase Agreement, Title Commitment, and Draft Closing Documents have been made available to the general public throughout the marketing period. By bidding at the auction, bidders acknowledge these have been made available prior to the auction and all bidders had the opportunity to review these documents during their due diligence period.
OTHER: This sale is subject to all easements, covenants, leases, and restrictions of record or otherwise made known to bidders. All property is sold on an “As is - Where is” basis with no warranties or guarantees, expressed or implied, or arising by operation of law concerning the property made by the Seller, Peoples Company, or the Auctioneer, and are hereby expressly disclaimed. Any announcements made on the day of the auction by the Auctioneer or Listing Agent will take precedence over all previous marketing material or oral statements. Bidding increments are at the sole discretion of the Auctioneer. The Sellers reserve the right to accept or reject any and all bids. All decisions of the Auctioneer are final.
Photos
Tract 1 Photos
Tract 2 Photos
Tract 3 Photos
Tract 5 Photos
Tract 6 Photos
Tract 7 Photos
Tract 8 Photos
Tract 9 Photos
Tract 4 Photos
