AUCTION DETAILS
How to Bid: Open up the Fraise Auction & Real Estate auction you are interested in at Fraiseauction.com. Click on any of the BID NOW icons within that auction. This will take you to the Online Bidding Platform. Find the auction you wish to participate in and open it up. To participate in that auction click REGISTER TO BID. From there you will need to create a bidder account. Once that is created you are able to bid on any of our Online Auctions
Auction Method: The auction will be conducted online, with each Tract available for individual purchase. However, bids for multiple Tracts can be placed simultaneously. Importantly, bidding for each Tract will remain open until the bidding concludes for both Tracts, ensuring that neither Tract will close until bidding has ceased on both. Tracts will be sold on a price per acre basis with the surveyed acres constituting the final sales price. Bidding is NOT contingent upon financing, an appraisal, inspection, or any other contingencies.

Survey: The land is in the process of being surveyed. Surveyed acres will be adjusted to constitute the final sales price.

1031 Exchange: It is the intention of Sellers to transfer the above-listed property pursuant to Internal Revenue Code Section 1031, which sets forth the requirements for tax-deferred real estate exchanges. The Seller's rights and obligations under this and future agreements will be assigned to a qualified intermediary, for the purpose of completing an exchange. Buyer of the property agrees to cooperate with Seller and qualified intermediary in a manner necessary to enable Seller to complete said exchange. Such cooperation shall be at no additional cost or liability to Buyer.

Reservations: Metal storage container, portable A-frame and ladder stands. Additionally, it is the Sellers intention to remove the majority of scrap iron on both Tracts prior to closing.

Earnest Money Payment: A ten (10%) percent nonrefundable earnest money payment is required on the day of the auction. All funds will be held in the Fraise Auction & Real Estate Trust Account.

Closing & Possession: Closing will occur on or about April 15, 2024, at which time possession will be given. The balance of the purchase price will be payable at closing in the form guaranteed check or wire transfer.

Contract & Title: Immediately upon conclusion of the auction, the high bidder will enter into a real estate sales contract with the Sellers. The Sellers will provide a current abstract at their expense. Real estate taxes will be prorated to the date of possession. Should a Buyer purchase both Tracts, then Sellers shall be obligated to furnish only one abstract and deed (husband and wife constitute one Buyer).
Other: It shall be the Buyer(s) responsibility to report to the Van Buren County FSA office and show filed deed in order to receive the following, if applicable (A) Allotted base acres; (B) Any future government programs; (C) Prorate of CRP. The land is selling subject to all easements, covenants, leases and restrictions of record. All property is sold on an "As Is, Where Is" basis with no warranties, expressed or implied made by the Auctioneer, Fraise Auction & Real Estate or Seller. Fraise Auction & Real Estate and its representatives are agents of the Seller. Winning bidder(s) acknowledges that they are representing themselves in completing this transaction. Any announcements made on auction day by the Auctioneer will take precedence over all marketing material or oral statements. Bidding increments are at the sole discretion of the Auction Company and can be changed at any time during the auction.

Disclaimer: Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries and due diligence concerning the property. All lines drawn on maps and photos are approximate. Overall tract acres, tillable acres, etc. may vary from figures stated within the marketing material. No liability for its accuracy, errors or omissions is assumed by the Sellers or Auction Company.

MDD, LLC - SELLERS

Gregory Johnson of Johnson Law Offices - Attorney for Seller


Disclaimer and Absence of Warranties: All information contained in this and all related materials are subject to the terms and conditions outlined in the agreement to purchase. Announcements made by the auctioneer during the time of the sale will take precedence over any previously printed material or any other oral statements made, except the purchase agreement.

The property is being sold on an 'As Is, Where Is' basis, and no warranty or representation, either express or implied, concerning the property is made by the seller or the auction company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained is believed to be accurate but is subject to verification by all parties relying on it.

All lines drawn on maps and photos are approximate. No liability for its accuracy, errors or omissions is assumed by the seller or the auction company. Conduct at the auction and increments of bidding are at the direction and discretion of the auctioneer. The auctioneer reserves the right to change the bidding increments at any time during the auction.

The seller and auction company reserve the right to preclude any person from bidding if there is any question as to the person's credentials, legal competence, etc. All decisions of the auctioneer are final.

Agency: Fraise Auction & Real Estate and their representatives are exclusive agents of the seller.
Currency Type: USD

Special Terms
Fraise Auction & Real Estate is providing Internet bidding as a service to the Bidder. Bidder acknowledges and understands that this service may or may not function correctly the day of the auction. Under no circumstances shall Bidder have any kind of claim against Fraise Auction & Real Estate or anyone else if the Internet service fails to work correctly before or during the auction.

Fraise Auction & Real Estate will not be responsible for any missed bids from any source. Internet bidders who desire to make certain their bid is acknowledged should use the proxy-bidding feature and leave their maximum bid 24 hours before the auction concludes. Fraise Auction & Real Estate reserves the right to withdraw or re-catalog items in this auction.

161.5 ACRES - Survey Complete - 2 TRACTS Tract 1: 80.59 Surveyed Acres Tract 2: 80.91 Surveyed Acres