#16470 Wapello County Auction Terms & Conditions

Sellers:
The Estate of Peggy McAllister
Administer of the Estate: Verle W. Norris

Attorney for the Seller:
Verle W. Norris, Attorney at Law
The Law Office of Verle W. Norris
Corydon, Iowa 50060

Auction Location:
Bridgeview Event Center
102 Church St
Ottumwa, Iowa 52501

Auction Method: The farm will be sold as one tract and on a price per acre basis.

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 good check or wire transfer. All funds will be held in the Verle W. Norris Trust Account.

Closing: Closing will occur on or around Thursday, December 22nd, 2022. The balance of the purchase price will be payable at closing in the form of a certified check or wire transfer. With respect to the timing of the Seller and successful Buyer in fulfilling the obligations set forth in the Real Estate Sale and Purchase Agreement, time is of the essence.

Possession: Full possession of the farm will be given at closing.

Farm Lease: There are no leases on the farm.

Contract & Title: Immediately upon conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with The Law Office of Verle W. Norris the required earnest money payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon Buyer obtaining financing after the auction is over. All financial arrangements are to have been made prior to bidding at the auction. Transfer of title on the Estate owned land will be made by Court Officer Deed. This Estate Auction is subject to final court approval.

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number in order to bid at the auction. Online and phone bidders must register with the Auctioneer at least 24 hours prior to the start of the auction.

Easement Access:  The property is accessed via a recorded access easement.  

Fences: Existing fences, if any, are in as-is condition and will not be updated. Not all property lines may have fences installed. All current and any future fences and fence lines shall be governed by the Wapello County and State of Iowa fence line rules and regulations. Existing fence lines may not be located on the true boundary lines.

House:  This property has a dilapidated manufactured home that is beyond repair. The property will be sold on an “as is, where is” basis with no warranties or guarantees, expressed or implied, made by the Auctioneer, Sellers, or Peoples Company.

Site Cleanup: If a site clean-up is required, it will be the new Buyer’s responsibility and at Buyer’s expense.

Other: This sale of this farm 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. 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 may vary from figures stated within the marketing material. 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 abstract.