Auction Terms & Conditions of Sale

1. There is no buyer’s premium. The amount of the high bid will be the purchase price of the property.

2. A down payment based on the purchase price will be paid at the close of Auction. Down payment amounts shall be subject to the following scale:

  $300,000 and below: $15,000.00

  $301,000 – $500,000: $25,000.00

  $501,000 – $1 Million $35,000.00

  Above $1 Million $50,000.00

  Purchase of the entire property: 5% uncapped down payment will be required.

3. Balance of purchase price is due in cash at closing. Closing costs will be shared equally between Buyer(s) and Seller.

4. The sale of the real estate is not subject to any contingencies nor conditional upon financing.

5. The 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.

6. The Seller shall pay the 2022 and all prior year’s real estate taxes; real estate taxes for 2023 shall be prorated to the date of closing.

7. If the Seller determines that a boundary survey is required to establish a legal description, then a survey shall be prepared by Shuler Land Surveying of Bolivar, MO. The Seller and Buyer(s) shall share equally in the cost of the survey. Tracts purchased in combination shall receive a perimeter survey only, if any. In the event that an existing legal description is available then no survey will be required and as such, a survey will not be conducted.

8. The locations of the tract signs on the parcels are approximate. These signs are not survey markers nor are they substitutes for survey markers, there may be a difference of several feet in any direction between the location of the tract sign and the actual location of a boundary line.

9. The acreage estimates for each tract were developed using GIS satellite technology. These are fairly accurate estimates, however they are only estimates. Therefore, the bid price for unimproved tracts or combinations of unimproved tracts shall be adjusted at closing to reflect the results of any required survey work, if the surveyed acres are different than the estimated acres. It is important to note that this adjustment shall reflect both additions to and subtractions from the estimated acres and subsequently the final purchase price. However, there shall be no prorated price adjustment for any tract or combination of tracts that contain building improvements.

10. Possession shall not be granted until closing. No Buyer may make physical changes to any structure or land, stock the farm with cattle or other livestock, harvest any crop nor store any items on the premises. Closing shall take place within 60 days from today at Polk County Title Co. in Bolivar.

11. The seller may choose to qualify the sale of the property under Section 1031 of the Internal Revenue Service Code (tax deferred exchange). Buyer(s) shall cooperate with said exchange and shall be held harmless from any and all claims, costs, liabilities, or delays in time resulting from such an exchange. Buyer shall agree to an assignment of this contract by the Seller.

12. The sale of the property does not include items that are portable in nature or items that have been specifically advertised separately from the property. This shall include but is not limited to: feeders, portable corral panels, propane tanks, livestock chutes, etc.

13. In the event that the property sells in tracts and water or septic lines happen to cross a boundary line onto an adjacent tract the Buyer(s) of the adjacent tracts(s) shall be required to grant the easements necessary for the operation and maintenance of such systems. Furthermore, Buyers of any and all tracts shall be required to grant the easements required by the local power company to supply electrical service to each tract.

14. There may not be fence lines separating the tracts of each parcel. Neither the Seller nor the auction company shall be responsible for any new fencing.  New fencing shall be the sole responsibility of the Buyer(s).

15. The well located on Parcel 1, Tract 11 is currently servicing a livestock watering device located on Tract 8. Furthermore, the well located on Parcel 1, Tract 4 is currently servicing a livestock watering device located on Tract 9. In the event that these tracts sell to different buyers, the buyer of Tract 11 & Tract 4 shall determine whether to allow or disallow the continued use of the well for these purposes.  Any and all agreements for a shared well shall be solely between the buyer of the subject tracts.

16. Part of the county road labeled and depicted on the tract map as “S. Dade 185.” Is a partially non-existing county road. The roadway is surfaced up to the neighboring property’s driveway but has not been extended to service the property.  Access to the property via the deeded roadway is currently passable and no additional roadway will be constructed by the seller. 

17. Please be aware, that a sinkhole exists on Parcel 2, Tract 3. This sinkhole has been identified by Greene County and its approximate location is noted on the tract map.    

18. The 30’ easement depicted on the Parcel 2 Tract Map running north and south along the west side of the property servicing Tracts 1-3 shall remain open and passable to provide ingress and egress to the subject tracts. Said easement shall be for the benefit of the affected tracts. Expenses for maintenance of the roadway shared by the beneficiaries of said easement.  

19. Your bids are to be based solely upon your inspection. All real estate is being sold “as-is” without physical warranty of any kind. The Seller and the agents of Diamond S Auction & Real Estate Co. shall not express or imply any warranty or guarantee of any specific zoning classifications, location of utilities, and assurance of building permits, water or septic permits.  All informational drawings and descriptions are intended as approximations only and should NOT be considered absolute.  Confirmation of the accuracy of said informational drawings and descriptions shall be the sole responsibility of the buyer to their own satisfaction.  No warranties or guarantees as to the condition of the well or wells on any tract are made by the Seller or Auction Company.  In short, all property is being sold “AS IS” with no guarantees of any kind.

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

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

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

23. Diamond S Auction & Real Estate Company, Inc. and its representatives are the exclusive agents of the Seller. Any announcements made by the auctioneers shall take precedence over this and any other printed material.