Racine County Land Auction
19.75 Acres M/L
Bidding ending on Tuesday, November 15th, at 6:00 PM

Online Bidding: Register to bid at http://peoplescompany.bidwrangler.com/

Offering 19.75 Acres m/l of Racine County, Wisconsin farmland through an ONLINE ONLY auction where all bidding must be done online through Peoples Company's bidding application. Bidding is currently LIVE and will remain open until Tuesday, November 15th, 2022 at 6:00 PM Central Time Zone (CST) with closing taking place on or before December 15th, 2022. A bid placed within 3 minutes of the scheduled close of the auction will extend bidding by 3 minutes until all the bidding is completed. If you plan to bid, please register 24 hours prior to close of 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.

50 Percent Tenant in Common Interest: Seller, owning an undivided one-half tenant in common interest in the tract, shall convey to the high bidder the Seller's entire interest in the tract. Buyer acknowledges that upon closing, Buyer's ownership interest in the tract shall be the Seller's undivided one-half tenant in common interest in the tract, and Buyer's interest shall not extend to the existing tenant in common's one-half interest in the tract. 

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.

Co-Broker: Co-Broker must register the client 24 hours prior to the Auction date by filling out our Broker Registration Form.

Buyer's Premium: A four percent (4.0%) Buyer's Premium will be added to the final price and included in the total purchase price.

Farm Program Information: Farm Program Information is provided by the Racine 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 Racine County FSA and NRCS offices.

Earnest Money Payment: A 10% earnest money payment is required within 24 hours of the auction closing. The earnest money payment may be paid in the form of cash or check. All funds will be held in the Landmark Title of Racine, Inc.

Contract:  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 title to the property by Personal Representative's Deed. 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 before November 15th, 2022 at Landmark Title of Racine, Inc. 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 Seller 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 tenants rights.

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

Farm Lease:  The current farm lease runs through the 2022 growing 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 Grant County and State of Wisconsin fence line rules and regulations. No new fences will be installed by the Seller. 

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.

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