Norman County Land Auction
1,033.39 Acres M/L
Friday, March 4th, 2022
10:00 AM

Auction Location:
Courtyard by Marriott
1080 28th Avenue South
Moorhead, MN 56560

Auction Method:  All tracts will be sold on a per-acre basis and will be offered through the "Buyer's Choice Auction Method", whereas the winning bidder may elect to take, in any order, any or all tracts for their high bid. The "Buyer's Choice Auction Method" auctioning will continue until all four tracts have been purchased. Tracts will not be offered in their entirety or combined at the conclusion of the auction.

Tract 1: 157.74 Acres M/L
Tract 2: 403.08 Acres M/L
Tract 3: 326.16 Acres  M/L
Tract 4: 146.41 Acres M/L

A Qualified Bidder may bid on any tract. If either the Sellers or the Auction Company determine, in the exercise of either’s sole discretion, that a Qualified Bidder’s participation or further participation in the auction is not in the best interest of Sellers, 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 a Disqualified Bidder shall be disregarded. Conduct of the Auction and the increments of bidding shall be at the continuing discretion of the Auctioneer. The Auction Company reserves the right to enter bids on behalf of Qualified Bidders participating in person, electronically, by telephone, or by proxy. All decisions of the Auctioneer at the auction are final.

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.

Farm Program Information: Farm Program Information is provided by the Norman County Farm Service Agencies. 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 Norman 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 cash or check. All funds will be held in The Title Company Trust Account.

Contract & Title Commitment:  Immediately upon conclusion of the auction, the high bidder(s) will enter into a Real Estate Purchase Contract and deposit 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. The title company/closing agent fees or costs shall be split 50% to the seller and 50% to the buyer.

Financing: Sale of this farmland is not contingent upon Buyer obtaining financing. All financial arrangements are to have been made prior to bidding at the auction. By bidding, the bidder makes a representation that the bidder has the present ability to pay the bid price and fulfill the Real Estate Purchase Contract.

Closing: Closing will occur on or about Thursday, April 7th, 2022 at a location to be designated by the Seller. The balance of the purchase price will be payable at closing in the form of cash, guaranteed check, or wire transfer. With respect to the timing of the Seller and successful Buyer(s) in fulfilling their obligations under the Real Estate Purchase Contract, time is of the essence.

Possession: Possession of each tract will be delivered at Closing unless otherwise stated herein.

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

Farm Lease: The current farm lease has been terminated. Farm will be open for the 2022 crop season. 

Fences:  Existing fences, if any, are in "As is-Where 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. All fences shall be governed by the Norman County and State of Minnesota fence line rules and regulations. No new fences will be installed by the Seller. Gates and various fencing may be removed by the Seller prior to closing.

Property Inspection:  Each potential bidder is responsible for conducting, at their own risk and expense, the independent inspections, investigations, inquiries, and due diligence concerning the property they are interested in bidding on. Each potential bidder shall be liable for any property damage caused by any such inspections or investigations.

Disclaimer:  All field boundaries in this brochure and any marketing material are just sketches and are presumed to be accurate according to the best available information and knowledge of the Seller and Peoples Company. Overall tract acres may vary from figures stated in the marketing material and will be subject to change.  Buyer(s) and his/her tax and legal 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.  Full legal descriptions will be taken from title paperwork.

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 or guarantees, expressed or implied, made by the Auctioneer, Peoples Company, or the Seller. No warranty, either expressed or implied, or arising by operation of law concerning the property is made by the Seller or the Auctioneer and any such warranty is hereby expressly disclaimed. If a site clean-up is required on this farm it shall be at the expense of the buyer(s). Any announcements made auction day 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. No absentee or phone bids will be accepted at the auction without prior approval of the Auctioneer.

All decisions of the Auctioneer are final.