MULTI-TRACT REAL ESTATE AUCTION This is an excellent chance to buy an outstanding executive style home built in 2003 on a ten acre site with a new barn built in 2001 and another steel quonset building! The farm is known locally as "SEVEN GABLES FARM"! Other tracts offer opportunities for land development, hunting and recreation, plus farmland acreage. The website offers all of the information provided in the Buyer's Prospectus; however, if you would like a Buyer's Prospectus sent to you, please contact auctioneers (800) 726-8609 or (320) 693-9371. Please note that the Buyer's Prospectus is uploaded as separate images - 19 pages located at the bottom of the image gallery. TRACT LISTING (All Tracts in Isanti County MN West Stanford Township Section 15-34-25. See map in images.) 1. Farmstead, 10+/- acres in SW1/4 of NW1/4 2. SW1/4 of NW1/4, less farmstead, & W1/2 of SE1/4 of NW1/4 3. NW1/4 of SW1/4 4. Lot 1, Block 1, Grams Addition in NW1/4 of NW1/4 5. NE1/4 of NW1/4 & E1/2 of SE1/4 of NW1/4 6. NW1/4 of NE1/4, less farmstead INFORMATION ON TRACT ONE HOUSE—TRACT 1 ¨ Built in 2003 ¨ 2-story farm house ¨ Attached double garage ¨ 3794 finished sq. ft. ¨ 576 unfinished sq. ft. above garage ¨ 3 bedrooms—3 bathrooms ¨ Know in the area as "Seven Gables Farm" MAIN LEVEL Kitchen ¨ Informal dining ¨ Center island ¨ Solid oak floors ¨ Solid maple cabinets ¨ Granite and Butcher Block counter tops ¨ Double sided fridge/freezer with ice & water ¨ Double stacked high efficiency dish washer ¨ Electric convection oven ¨ Gas stove & exhaust hood ¨ Pantry ¨ Double farm sink ¨ Pass through to formal dining room ¨ French doors to outside deck Mud Room ¨ Washer & dryer ¨ Tile floor ¨ Second stairway to upstairs Bathroom ¨ Full bath off mud room Office ¨ Outside entry ¨ Porch ¨ Carpet Family Room ¨ Carpet Formal Dining/Living Room ¨ Solid oak floors ¨ Built in hutch with granite countertop Formal Entry ¨ Grand solid oak stair case UPPER LEVEL Two of three Bedrooms ¨ Carpet ¨ 2 closets in each room Bathroom ¨ Solid oak floors Master Bedroom ¨ Walk in closet ¨ Carpeted floors Master Bathroom ¨ Stand alone shower ¨ Tub ¨ Tile floor ¨ Washer & dryer BASEMENT ¨ Full unfinished base CONSTRUCTION * 2x6 Construction * James Hardie siding * 335 lb. shingles * 9' ceilings * Maintenance free decking * Picture window with stained glass * Custom oak molding ADDITIONAL INFORMATION * High efficiency gas forced air * Plumbed for central vacuum * 2 wells on property - - The first well had a new sand point and pump installed in 2001. - The second is deep and was installed in 2003 * Septic system installed in 2003 * Water softener * Sump pump * Quonset shed, 60'x30' BARN * 66'X34' * 18' side walls * 12/12 pitch * Sliding machine shop doors on east end * 16'x16' attached tack room/shop with side entry door * 110 power TERMS & CONDITIONS - The Terms and Conditions of Sale are set forth here and in the Earnest Money Receipt and Purchase Agreement. The information set forth is believed to be accurate. However, the owner of the properties and Steffes Auctioneers make no warranties or guaranties expressed or implied. Information contained in this document was collected from sources deemed to be reliable and is true and correct to the best of the writer’s knowledge. Auctioneers and owners will not be held responsible for advertising discrepancies or inaccuracies.
- All ANNOUNCEMENTS ON AUCTION DAY TAKE PRECEDENCE OVER PREVIOUSLY ADVERTISED INFORMATION.
- Prospective buyers are advised to consult with an attorney of their choice with respect to the purchase of any real property including but not limited to, seeking legal advice from their own attorney regarding disclosures and disclaimers set forth below.
- REGISTRATION OF BIDDERS: All bidders must register their name, address, and telephone number along with a Bank Letter of Recommendation (sample letter included as an image on this website). Auction staff will be at the sale site approximately one hour prior to sale time.
- The successful bidder will be required to sign an Earnest Money Receipt and Purchase Agreement at the close of the real estate auction. A total deposit of 10% of the purchase price will be required. Those funds will be placed in the Steffes Auctioneers Auction Trust Account as good faith money until closing. Purchasers who are unable to close because of insufficient funds will be in default and the deposit money will be forfeited. Balance of the purchase price must be paid in full with cashier's check at closing on or before Tuesday, August 26, 2008.
- Seller will provide up-to-date abstracts at their expense and will convey property by Warranty Deed.
- 2008 Real Estate taxes to be pro-rated to date of closing. Subsequent taxes and or special assessments, if any, to be paid by buyer. Real Estate Taxes are subject to reassessment under new owner.
- Closing Agent Fee will be shared equally between Seller and Buyer.
- All tracts will be offered on an individual basis. At the conclusion of the first round of bidding a recess will be taken. Bidding will then be reopened (at the last bid received) and all tracts will again be offered. The bidding will continue at the auctioneer’s discretion. Our goal is to realize the highest return to the seller, and to satisfy all interested parties by allowing bidders who are interested in one tract to have the same opportunity as multi-tract buyers. The minimum bid raise on a single tract is $500. All bidding will be on a per tract basis. We will not have “per acre” bidding.
- Please note the bidding will not close and property will not be sold until everyone has had the opportunity to make his or her highest and best bid.
- THIS IS A 10% BUYER'S PREMIUM AUCTION. 10% WILL BE ADDED TO THE FINAL BID TO ARRIVE AT THE FINAL CONTRACT PRICE.
- THE PROPERTY WILL BE SOLD AS IS WITH NO WARRANTIES EXPRESSED OR IMPLIED.
- THE PROPERTY WILL BE SOLD SUBJECT TO OWNER CONFIRMATION.
PROPERTY SOLD WITHOUT WARRANTY All dimensions and descriptions are approximations only based upon the best information available and are subject to possible variation. Sketches may not be drawn to scale and photographs may not depict the current condition of the property. Bidders should inspect the property and also review all the pertinent documents and information available, as each bidder is responsible for evaluation of the property and shall not rely upon the Seller, Broker or Auctioneer, their Employees or Agents. The property will be sold AS IS and without any warranties or representations, express or implied. BIDDER REGISTRATION The auction sale is for registered bidders and their guests. All bidding is open to the public and the property is offered for sale to qualified purchasers without regard to sex, race, color, religion, natural origin, or handicap. SUCCESSFUL BIDDER The successful bidder of the property shall be determined by competitive bidding. Should any dispute arise between bidders, the auctioneer shall have the right to make the final decision to either determine the successful bidder or to re-offer the property that is in dispute. The auction will be recorded and the auctioneer’s records shall be conclusive in all respects. CLOSING The successful bidder will be required, at the close of the auction, to complete the Earnest Money Receipt and Purchase Agreement. A sample contract is included as an image on this website. Balance of the purchase price is due in cash at closing on Tuesday, August 26, 2008. Closing will take place at place mutually agreeable to Buyer and Seller. SELLER’S PERFORMANCE The Seller has agreed to the terms of the sale as published. However, the Broker and Auctioneer make no warranties or guaranties as to the Seller’s performance. AGENCY DISCLOSURE Steffes Auctioneers Inc. is representing the Seller and will be paid by the seller. POSSESSION Possession will be at closing. MINERAL RIGHTS All mineral rights, if any, held by Seller will be transferred upon closing. However, the Seller does not warrant the amount or adequacy of the mineral rights. ENVIRONMENTAL DISCLAIMER The Seller, Broker and Auctioneers do not warrant with respect to the existence or nonexistence of any pollutants, contaminants or hazardous waste prohibited by federal, state or local law. Buyer is responsible for inspection of the property prior to purchase for conditions including but not limited to water quality, and environmental conditions that may affect the usability or value of the property. No warranties are made as to the existence or nonexistence of water wells on the property, or the condition of any wells. EASEMENTS AND SURVEY The property to be sold is subject to any restrictive covenants or easements of record and any results that an accurate survey may show. SURVEYS, IF ANY, WILL BE AT BUYERS EXPENSE. BIDDING TIPS As a buyer you have two objectives to accomplish: 1. Purchasing the property. 2. Purchasing the property at a price you can afford. - HOW IS THIS ACCOMPLISHED?
1. Estimate comparative value. 2. Experienced buyers always decide what to pay before the bidding begins. 3. Inspect the property carefully. 4. Compare with other properties available in the area. 5. Check the selling price of previously sold properties. 6. Discuss your buying plans with a lender. Have your financing arrangements made in advance. 7. This sale is not subject to financing. - AVOID OVER OR UNDER BIDDING
Always bid on a property toward a price. Establish that price before the bidding begins. By doing this you will avoid getting caught up in the auction excitement and pay a price that is too high for the market or one that you cannot afford. It will also make you confident to bid to your established fair market value. Many bidders who do not plan ahead end up with regrets after the auction because they were too nervous or uncertain about their judgment to bid. 1. Research and know the value of the property. 2. Have your financing arranged before the auction. 3. Establish your highest and best bid before the bidding begins. 4. Make your bids promptly to force other bidders up or out without delay.
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