Auction Terms & Conditions TERMS OF SALE
Price is per deeded acre!
No Buyers Premium. In order to participate in bidding, bidders must register online & turn in a $60,000 cashier’s check or personal check to Mages Land Co & Auction Service LLC. All personal checks will be deposited before bidding is allowed. Personal checks must be deposited by April 1st & cashier’s checks must be turned into the Mages Land Co Office in Winthrop, MN by 4:00pm the day of the sale or you will not be allowed to bid!
All funds will be returned to unsuccessful bidders on April 8th, they can either be picked up at our Winthrop Office or, if requested, mailed out. The successful buyer shall enter into a non-contingent purchase agreement on April 8th and have their check deposited as *nonrefundable earnest money down on the property, with the balance to be paid upon closing in approximately 90 days**.
**Closing could be delayed beyond this time if there are any disruptions in the court system due to the ongoing Coronavirus situation.
The property will be sold in “AS IS” condition. The land is currently in the second year of a 5 year lease. All future rent will be paid to the buyer. There will be an easement created on the North side of Parcel 2, for the purposes of ingress & egress for the wooded lot on the West boarder of the parcel. Any wells on the farmsite will be the Buyer's responsibility for sealing. Subject to any easements of record. The seller or seller’s agents are not responsible for any errors in information. This is a guide. Buyers are responsible to collect their own info.
Subject to sale prior to the conclusion of the auction. Seller has the right to reject any & all bids. This sale is subject to court approval. Auctioneer has the right to run the sale however he feels best serves the seller. Mages Land Co & Auction Service represents the seller in this transaction. Bids cannot be retracted once placed.
Online fees will vary, based on the auction and type of auction, please review terms and conditions of every auction prior to bidding.
Bidding terminates automatically at a predetermined time. Our auction will close using an extended bidding format. This feature allows the auction to function like a live auction by extending the time for 2 minutes on any item that has active bidding within the last minute of that item closing. It also allows customers with slower computer connections a fair opportunity to bid; by eliminating the bidders that use computer sniping software to place bids within the last second of an auction out bidding you.
*Nonrefundable earnest money would be refundable in the case of a title defect or court disapproval
For more info or to answer any questions, contact: Matt Mages, 507-276-7002, email@example.com
Seller User Terms
Bidder User Terms