Real Estate Marketing Specialists Statewide

 AUCTION DATE: April 23rd & 24th, 2010

DIAMOND S REAL ESTATE & AUCTION COMPANY, INC., welcomes you to bid YOUR price on the real estate offered at this auction.

 BIDDING PROCEDURES TO KEEP IN MIND:

All bidding is open to the public.  You will need to raise your hand or call out your bid as the auctioneer asks for bids.  It is easy!  Don’t be bashful!  This is a one time opportunity.  Watch the auctioneer and his bid assistants.  They will take your bid and will assist you with any questions.

 Bidding will remain open on individual tracts and all combinations until the close of the auction.  You may bid on any tract, combination of tracts or the entire property.  Bidding will be on a lump sum basis.

Your bidding is not conditional upon financing, so be sure you have arranged financing, if needed, and are capable of paying cash at closing.

Minimum bid increments are at the discretion of the auctioneer. 

A representative of the seller will be present at the auction and we anticipate that the top bids at the close of the auction will be accepted.  The final bids, however, are subject to the Seller’s acceptance or rejection.

TERMS OF SALE OUTLINED:

10% down payment is due at the close of auction.  This is based on 10% of the contract purchase price.  Cash, cashier’s check, personal or corporate check that is immediately negotiable is satisfactory for the down payment.

Balance of purchase price is due in cash at closing.  Closing shall be held as specified on the real estate contract.  The cost for an administered closing will be shared equally between Buyer(s) and Seller.

Seller shall provide a title search and a Warranty Deed.  The cost of title insurance shall be at Buyer’s expense, if Buyer elects to secure a title insurance policy.

The Seller shall pay the 2009 and all prior year’s real estate taxes; real estate taxes for 2010 shall be prorated to the date of closing.

Survey:  If the Seller determines that a boundary survey is required to establish a legal description, then a survey shall be prepared.  Seller and Buyer shall share equally in the cost of the survey.  Tracts or parcels purchased in combination shall receive a perimeter survey only, if any.  There shall be no prorated price adjustment of any land tract, or combination of land tracts that contain building improvements.  The bid price shall be adjusted at closing to reflect the results of any new survey work, if surveyed acres are different than estimated acres, except when building improvements are included in the purchase.

In the event that a parcel is sold in tracts and water or septic lines cross the boundary line onto an adjacent tract the Buyer(s) of the adjacent tract(s) shall be required to grant easements necessary for the operation and maintenance of such systems.  

The Seller may choose to be involved in a 1031 Tax Deferred Exchange on this property.  Which will be included in your bidders packet as Addendum “B” for your review.  All parties will sign the 1031 Tax Deferred Exchange Addendum “B”.

Possession shall occur at closing which shall take place no later than one month after the auction at Polk County Title Company in Bolivar, MO

Your bids are to be based solely upon your inspection.  All real estate is sold without physical warranty.  The seller and the agents of Diamond S Auction & Real Estate Co. shall not assume any responsibility for warranty of any specific zoning classifications, location of utilities, and assurance of building permits, or water and septic permits.  No warranties or guarantees as to the condition of the wells on any tract are made by the Seller or Auction Company.  All property is being sold “AS IS” no guarantees of any kind.

All real estate is being sold subject to any existing recorded easements.  Existing recorded leases, if any will be assigned to the Buyer.

Many of the land tracts are being sold according to existing legal descriptions.  Because of this there may not be fence lines separating tracts on all land parcels.  The Seller and Auction Company are not responsible for any new fencing.  New fencing shall be the sole responsibility of the Buyer(s).

At the close of the auction, Buyer(s) will be required to execute an Agreement to Purchase Real Estate and Addendum(s).  This agreement and addendum(s) will be available for review in your bidder’s packet at the auction.  The terms of this agreement and addendum(s) are non-negotiable.

Please keep in mind that the Agreements to Purchase Real Estate you will be signing immediately following the close of the auction will be drawn up based on the manner in which you bid.  You will be closing on the parcel, tract or combination of tracts on which you are the successful bidder in the manner in which you bid at the auction.

Diamond S Real Estate & Auction Company, Inc. and its representatives are the exclusive Agent of the Seller.

ANY ANNOUNCEMENTS MADE BY THE AUCTIONEER SHALL TAKE PRECEDENCE OVER THIS AND ANY OTHER PRINTED MATERIAL