Lafayette County Land Auction
136.59± Acres 
Wednesday, November 9, 2022
10:00 AM

Auction Location: 
Belmont Convention Center - Quality Inn & Suites
103 W Mound View Avenue
Belmont, WI 53510

Title Company:
Tri-County Title Services LLC
15 W Main Street
Platteville, WI 53818

Online Bidding: Register to bid at http://peoples.auctioneersoftware.com. Potential bidders may have access to the live auction by utilizing Peoples Company's online auction platform via the Internet.  By using Peoples Company's online auction platform, bidders acknowledge that the Internet is known to be unpredictable in performance and may, from time to time, impede access, become inoperative, or provide slow connection to the online auction platform.  Bidders agree that Peoples Company nor its affiliates, members, officers, shareholders, agents, or contractors are, in any way, responsible for any interference or connectivity issues the bidder may experience when utilizing the online auction platform.

Auction Method:  The property will be offered via a Multi Parcel live auction.
(a) The real estate will be offered in two individual tracts or as a combination thereof (the “Property”).
(b) Bidding will remain open on all tracts or combinations thereof until the close of the auction as determined by the Auctioneer or as directed by the Seller and announced by the Auctioneer. A Qualified Bidder may bid on any tract or combination of tracts and the Seller may sell any tract or combination of tracts. If either the Seller or the Auction Company determine, in the exercise of their sole discretion, that a Qualified Bidder’s participation or further participation in the auction is not in the best interest of Seller, such Qualified Bidder shall be immediately deemed a “Disqualified Bidder”, and the Disqualified Bidder’s participation in the auction may be stopped and any bids made by the Disqualified Bidder shall be disregarded.
(c) Handling of the Auction and increments of bidding shall be at the discretion of the Auctioneer. The Auction Company reserves the right to enter bids on behalf of Qualified Bidders, whether participating in person, electronically, via phone, or by proxy. All decisions of the Auctioneer at the auction are final.

Tract 1: 15.49± Acres
Tract 2: 121.10± Acres

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.

Real Estate Taxes: The real estate taxes will be prorated between the Seller and Buyer(s) to the date prior to closing.

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number in order to bid at the auction. Peoples Company and its representatives are agents of the Seller. Winning bidder(s) acknowledge they are representing themselves in completing the auction sales transaction.

Farm Program Information: Farm Program Information is provided by the Lafayette County Farm Service Agency. The figures stated in the marketing material are the best estimates of the Seller and Peoples Company; however, Farm Program Information, base acres, total crop acres, conservation plan, etc. are subject to change when the farm is reconstituted by the Lafayette County FSA and NRCS offices.

Earnest Money Payment: A 10% earnest money payment is required on the day of the auction. The earnest money payment may be paid in the form of a check or wire transfer. All funds will be held in the Tri-County Title Services LLC Trust account.

Closing: Closing will occur on or before Thursday, December 22, 2022. The balance of the purchase price will be payable at closing in the form of a guaranteed check or wire transfer. With respect to the timing of the Sellers and successful Buyer(s) in fulfilling their obligations under the Real Estate Purchase Contract, time is of the essence.

Possession: Possession of the land will be given at closing; subject to the tenants rights.

Farm Lease: The farm lease expires December 31, 2022. Seller will retain any and all income from the 2022 growing season. 

Residential Lease: Both homes are leased on a month to month basis. There will be no proration of rents given to the buyer(s) at closing. 

Contract & Title: Immediately upon the conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Tri-County Title Services LLC the required earnest money payment. The terms of the signed Real Estate Purchase Contract shall govern the sale and shall supersede all prior negotiations, discussions, representations, or information regarding the sale, including this brochure. The Seller will furnish, at Seller’s expense a current Title Commitment for an Owner’s Policy in the amount equal to the Total Purchase Price. Buyer will pay the premium for any title insurance policy Buyer chooses to obtain.  Seller agrees to convey marketable title to the property. This sale is not contingent on financing. 

Fences: Existing fences, if any, are in as-is condition and will not be updated or replaced by the Sellers. Not all tract and boundary lines are fenced and if needed, will be the responsibility of the Buyer at closing. Existing fence lines may not fall directly on the legal boundary.

Other: This sale is subject to all easements, covenants, leases, and restrictions of record. All property is sold on an “As is – Where is” basis with no warranties, expressed or implied, made by the Auctioneer, Peoples Company, or Seller. All bids will be on a per-acre basis. Peoples Company and its representatives are agents of the Seller. Winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made auction day by the Auctioneer or Listing Agents will take precedence over all previous marketing material or oral statements. Bidding increments are at the sole discretion of the Auctioneer. No absentee or phone bids will be accepted at the auction without prior approval of the Auctioneer. All decisions of the Auctioneer are final.

Disclaimer: All field boundaries are presumed to be accurate according to the best available information and knowledge of the Seller and Peoples Company. Overall tract acres, tillable acres, etc. may vary from figures stated within the marketing material. The buyer should perform his/her 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. Full legal descriptions will be taken from title paperwork.