Terms & Conditions

The Terms and Conditions of Sale are set forth upon this page in this Buyer’s Prospectus and the Earnest Money Receipt and Purchase Agreement (the “Purchase Agreement”). The information set forth is believed to be accurate. However, the owner of the properties and Steffes Group 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.

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 Group 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 Monday, January 11, 2021. Seller will convey property by Warranty Deed

2020 Taxes paid by the seller.. 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 Buyer and Seller.

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.

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.

This is a 5% buyer’s PREMIUM auction.

THE PROPERTY WILL BE SOLD SUBJECT TO SELLER CONFIRMATION

THE PROPERTY WILL BE SOLD AS IS WITH NO WARRANTIES EXPRESSED OR IMPLIED. 

Seller will provide up-to-date abstract(s) or owner’s policy at their expense and will convey property by Warranty Deed.

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 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.

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 in this Prospectus. Balance of the purchase price is due in cash at closing on or before Monday, January 11, 2021. Closing will take place at a closing company mutually agreeable to both 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 Group, Inc. is representing the Seller.

POSSESSION
Possession will be at closing unless otherwise agreed to in writing and agreeable by buyer and seller.

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.

Several Easements exist on this property ranging from Highway Easements, Township Road Easements, Tile Drainage Easements, Oil & Gas Easements, & a Wind Energy Easement which includes an annual payment of $2,289.11.

BIDDING PROCEDURE
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.

THE BIDDING STRATEGY

Research and know the value of the property.

Have your financing arranged before the auction.

Establish your highest and best bid before the bidding begins.

Make your bids promptly to force other bidders up or out without delay.

MOWER COUNTY, MN  TILLABLE LAND AUCTION – 182± ACRES

AUCTION LOCATION: Hayfield American Legion, 7 Main St. W, Hayfield, MN 55940.

LAND LOCATION: From Hayfield, MN, 5 miles east on Hwy 30, 5 miles south on 250th Ave./Dodge Mower Rd./660th Ave. Land is on the west side of the road.

AUCTIONEER'S NOTE:  The Linbo Family is selling this prime Mower County farm in one tract.  182± deeded acres with 168± acres that are tillable.  Pattern tiled with upgrades to mains in the spring of 2020.

Mower County, MN – 181.86± Acres
Sargeant Township
PID #: 17-010-0020
Description: Sect-10 Twp-104 Range-016
2020 Taxes: $8,484

TERMS: Ten percent down upon signing purchase agreement, payable by cash or check. Balance due at closing within 30 days. This is a 5% buyer’s premium auction.

For a detailed buyer's prospectus with complete terms and conditions, contact Steffes Group at 320.693.9371, Brock Skov 507.272.4818