Palo Alto Land Auction
39.72 Surveyed Acres
Wednesday, November 2, 2022
Online Bidding Until 3:00 P.M.
Ulrich Family Partnership

ONLINE ONLY AUCTION

Online Bidding: Register to bid at http://peoplescompany.bidwrangler.com/ A bid placed within 3 minutes of the scheduled close of the auction will extend bidding by 3 minutes until all bidding is completed. If you plan to bid, please register 24 hours prior to the close of the auction. Under no circumstances shall Bidder have any kind of claim against Peoples Company or its affiliates if the Internet service fails to work correctly before or during the auction. 

Auction Method: The farmland will be sold as one individual tract on a price per acre basis to the High Bidder. All bidding must be done online or through Peoples Company’s bidding app. Bidding will be LIVE until Wednesday, November 2nd, 2022 at 3:00 PM Central Time Zone (CST).

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number in order to bid at the auction.

Farm Program Information: Farm Program Information is provided by the Palo Alto 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 Palo Alto 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 Peoples Company Trust Account.

Closing: Closing will occur on or before Friday, December 2, 2022. The balance of the purchase price will be payable at closing in the form of guaranteed check or wire transfer.

Closing Attorney: Closing will be overseen by Jim Bruhn.

Possession: Possession of the farm will be given At Closing, Subject to Tenant's Rights.

Farm Lease: The farm is leased for the 2022 cropping season. A second-half lease payment will be paid to the Buyer. Contact Agent for details.

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.

Contract & Title: Immediately upon the conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Peoples Company Trust Account the required earnest money payment. The Seller will provide a current abstract at their expense. The sale is not contingent upon Buyer financing.

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. The winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made on 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 figuresthe  stated within the marketing material. Buyer sThe buyer performs 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 the Abstract.