SEE UPDATED INFO  3/23/18  67-Acre Estate Auction

Cates Auction & Realty Co., Inc.

 

Date(s) 2/15/2018 - 3/23/2018

Friday, March 23, 2018 at 1:00pm

Past Auction
Bidding Notice:

SEE UPDATED INFO IN DETAILS (3/23)

Auction Information
Name SEE UPDATED INFO 3/23/18 67-Acre Estate Auction
Auctioneer
Type Live Webcast Auction
Date(s) 2/15/2018 - 3/23/2018
Auction Date/Time Info
Friday, March 23, 2018 at 1:00pm
Preview Date/Time Sundays, March 4th, 11th & 18th; 2-4pm
Checkout Date/Time N/A
Location
Buyer Premium 10% of the High Bid
Description
UPDATE 3/23 11:15 -- We have received new information about this property that may or may not affect your bidding decisions. Please read the letter below from the attorney representing the seller's trust. "My name is Ron Mullennix. I am an attorney representing Citizens Bank & Trust in their capacity as Trustee of the Bunnell Family Trust. As part of the auction information packet, you have been furnished a title insurance commitment from Thomson-Affinity Title. That report shows no encumbrances on the property other than a First Deed of Trust held by US Bank which would be paid in full from the sales proceeds. We need to advise you that yesterday morning, with no prior notice to the Trustee, a Notice of Lis Pendens was filed with the Recorder of Deeds for Platte County stating that this property is the subject of a lawsuit filed by one Evelyn Cochran. Citizens Bank & Trust has not been served in that lawsuit, but it is my opinion that the lawsuit is without merit and is based on erroneous statements of fact and what I believe are false allegations. We believe it is simply an attempt to extract money from the Bunnell Trust by placing a cloud on the title to this real estate. We firmly believe that Ms. Cochran’s suit will not be successful. Nevertheless, we feel that we must make you aware of this most recent development which may possibly affect the closing date for the sale. If I were a bidder, this would not impact my willingness to bid on the property, but each of you must make your own decision on that." Beautiful, mostly wooded 67-acre tract with scenic views, rolling hills timber, pond, grotto, wildlife, newer custom-built 4-bedroom, 4-bath home w/finished w/o LL, 3-car garage, metal outbuilding, detached garages & much more! Located just north of Zona Rosa and south of KCI in the Park Hill School Distr., this close-in country estate is only minutes to shopping, restaurants, hospitals & other city amenities. Don't miss this opportunity to Bid Your Price!
AUCTION TERMS AND CONDITIONS: REGISTRATION: Onsite bidder registration will begin one hour before the auction. Online bidder registration is open now. All bidders must provide a valid driver's license and current address. Online bidders must also provide a credit card to register. By registering, all bidders acknowledge having read and agree to be bound by the Auction Terms and Conditions. DOWN PAYMENT: The successful bidder(s) shall be required to make a 5% non-refundable down payment of the total purchase price immediately following the close of bidding. Cash, cashier's check or personal/business check will be accepted from onsite bidders. Bank wire will also be accepted from online bidders. FINANCING: Financing is not a contingency of sale in this offering. Therefore, it is strongly recommended that potential bidders ensure in advance that they are able to obtain the necessary financing to close the transaction. CONTRACT SIGNING: The successful bidder(s) shall execute a purchase agreement immediately following the close of bidding. All final bid prices are subject to Seller approval, unless announced otherwise. CLOSING: Buyer(s) shall close within 45 days of the auction date. Possession will be delivered at closing subject to any remaining rights of the current tenant(s), if applicable. EVIDENCE OF TITLE Seller shall furnish at seller's expense an Owner's Policy of Title Insurance in the amount of the total purchase price and shall execute a general warranty deed conveying the real estate to the buyer(s). REAL ESTATE TAXES & ASSESSMENTS: 2018 taxes are to be prorated as of the closing date. EASEMENTS AND LEASES: Sale of said property is subject to any and all easements of record and any and all leases. AGENCY: Cates Auction & Realty Co., Inc. and its representatives are Exclusive Agents of the Seller. BUYER'S PREMIUM: A buyer's premium of ten percent (10%) shall be added to the high bid and included in the total purchase price to be paid by the successful bidder(s). BROKER PARTICIPATION: A commission will be paid to any properly licensed Broker who registers a successful buyer according to the appropriate Broker Participation Agreement. This form is available from the Auction Company and must be completed and returned no later than 48 hours prior to the auction. DISCLAIMERS AND ABSENCE OF WARRANTIES The information in the auction advertising was obtained from sources believed to be accurate, but is subject to verification by all parties relying on it. All sketches and dimensions are approximate. No liability for its accuracy, errors or omissions is assumed by the Seller or the auction company. All bidders are responsible for conducting their own inspections, investigations, inquiries and due diligence concerning the property. The property is being offered on an "AS IS", "WHERE IS" basis and no warranty or representations, expressed or implied, is made by the Seller or the auction company. All announcements made by the Auctioneer during the auction take precedence over any previously printed material or any other oral statements made. All information contained in the advertising and all related materials are subject to the terms and conditions outlined in the purchase agreement. Advertising may contain pictures of wildlife and other items that are for illustrative purposes only. The Auctioneer reserves the right to bid on behalf of the Seller up to, but not beyond the Seller's reserve (if applicable). The Property is available for and subject to sale prior to auction.
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 9,999,999.99 1,000.00 USD
Currency USD
Buyer Premium 10% of the High Bid
Payment Terms
See Terms and Conditions.
N/A
Notice: Financing terms available may vary depending on applicant and/or guarantor credit profile(s) and additional approval conditions. Assets aged 10-15 years or more may require increased finance charges. Financing approval may require pledge of collateral as security. Applicant credit profile including FICO is used for credit review. Commercial financing provided or arranged by Express Tech-Financing, LLC pursuant to California Finance Lender License #60DBO54873. Consumer financing arranged by Express Tech-Financing, LLC pursuant to California Finance Lender License #60DBO54873 and state licenses listed at the this link. Consumer financing not available for consumers residing in Alaska, Louisiana, Nevada, Ohio, Vermont, Hawaii, or Wisconsin. Additional state restrictions may apply. Equal opportunity lender.