Lot # : 1 - Goldstone Gold Mineral Property Foreclosure -40 AC

Online Only Auction
Goldstone Gold Mineral Property Foreclosure -40 AC
Click Main Image For Fullscreen Mode
Price Realized:
60,700.00 USD
Shipping Not Available
Salmon, ID 83467
Date(s)
7/1/2024 - 8/3/2024
AUCTIONEER INFORMATION
Catalog
Google Mapping to Property
Goldstone Technical Property Report
Lakes, Mining Engineer Report
Description of Goldstone and others
Idaho Bureau of Mines and Geology Report
Bidding Notice:

Properties are sold as is, where is. Payment in full is required within 5 business days of auction end without exception. Invoices must be paid by guaranteed funds (Wire Transfer, Cashiers Check, Cash). Buyer to verify all information. Perspective buyers should conduct their due diligence prior to any bids, including in person visit to the properties. This is fee simple, absolute transfer. ... Show More

Auction Notice:

NO RESERVE AUCTION. Seller has authorized Terra Firma Auction Services to auction the Golconda 40 acre Property, MRO at NO RESERVE. If you are unfamiliar with Mining Properties, MRO, SRO and other elements of property purchase, Consult an attorney prior to making any bids or commitments.

Information
Lot # 1
Group - Category Real Estate - Ag / Farm Land
Lead Goldstone Gold Mineral Property Foreclosure -40 AC
Description
Terra Firma Auction Services is an Auction Services Company acting as a foreclosure agent for the Seller. The seller has obligated to liquidating the following foreclosure at NO RESERVE. This is an absolute, fee simple sale. Winning bidder will receive clear and unencumbered deed to the property as described below: Legal Description: Goldstone Lode - IMC218803 Section 14, 21N 24E Boise Meridian Goldstone 2 Lode - IMC220696 Section 23, 21N 24E Boise Meridian The Goldstone Property is 40 acres, MRO, which encompasses all of the main workings, portals, cabines, Spring and access of the Goldstone Mine. The property is located just west of Goldstone Pass on the Idaho side of the Continental Divide. Road access is 4WD only and only from the Montana side. This property will be sold at absolute NO RESERVE at the direction of the seller. The property has a long and very detailed and validated history. Please review all of the documentation associated with the property as attached to this listing. This is an ideal property if you want to be off-grid completely. With the documented gold asset on site worth at least $35 Million Dollars, it gives a lot of room for improvement and development while still making a very significant profit. This doesn't account for any of the silver or copper that is documented on the site. Plan to see plenty of wildlife. Bears, Elk and deer are prevalent. This is a high country property located at an elevation of nearly 9000' The Goldstone property has documented blocked reserves of gold, silver and copper. According to USGS documentation, at least 15,900 ounces of Gold and almost 600,000 ounces of silver. There are roughly 8,000' of subsurface workings in the form of drift and winzes working around the defined ore body. A very comfortable and dry bunkhouse is on site. There is also an old cabin and various remnants of the last operations which were carried out in the 1950s. The Goldstone was addressed in 2008 by the EPA and the "toxic" tailings were removed from the site. The drift workings were also collapsed at this time. New owner will need to re-open these portals and stabilize to access the 8000' of subsurface workings. The workings drain out of a lower haulage tunnel that is not on the property.
Name Idaho, Goldstone Property, 40 AC -Real Estate Foreclosure
Auctioneer
Terra Firma Auction Services
Type Online-Only Auction
Date(s) 7/1/2024 - 8/3/2024
Auction Date/Time Info
Auction will Start Monday July 1st, 2024, 8:00am (MST). Auction will end on Saturday, August 3rd, 2024 starting at 12:00 PM (MST). Lot will soft close.
Preview Date/Time Perspective Bidders/Buyers may visit property without prior permission from 07/01/2024 until 08/02/2024. By visiting the property, clients consent to being recorded on video and possible license plate capture. Recordings will be used for security purposes only. Seller is not responsible for access, weather or other impediments.
Checkout Date/Time Earnest Money deposit of $5000 per lot is due within 24 hours of auction close. Terra Firma will contact bidder at the close of the auction to collect earnest money deposit. Please be available to make this deposit at the auction end. Full payment due within 5 business days from the end of the auction. By Friday, August 9th, 2024 at 4:00PM MST.
Location
Pratt Creek Road
Salmon, ID 83467
Buyer Premium 10% BUYERS PREMIUM
Description
TERRA FIRMA AUCTIONS has been contracted to liquidate foreclosed assets for its clients. We strive to provide all relevant information and details about foreclosures. Please relay any questions via email or by phone or text. The Goldstone 40 acre Gold Mineral Property(MRO) has been foreclosed. This property will be sold at NO RESERVE on August 3rd, 2024. The property has been professionally surveyed and will be sold with clear title. No back-taxes, liens or other encumbrances. Property is sold fee simple absolute. The Goldstone Property is considered legal Real Property. Completed Sale will transfer 100% MRO Ownership and Interest by Quit Claim Deed to the buyer. PLEASE DO NOT BID If you are unclear on any aspects of OWNERSHIP or PURCHASE of REAL PROPERTY, SRO, MRO or otherwise, we highly recommended that you SEEK LEGAL ADVICE PRIOR to registering or bidding. Terra Firma Auction Services CANNOT and WILL NOT provide legal advice in any capacity. 10% Buyer's Premium on final hammer price. $649 Closing/Documentation fee for transfer and recordings with State and County via Quit Claim Deed. Warranty Deed available for additional $1295.00. Buyers are responsible to execute due diligence prior to bidding. We highly enocourage an "in person" visit to the property. Map link to property is included in auction links. Properties are sold AS IS, WHERE IS. No other warranties or representations.
Bidder agrees to comply with Terms & Conditions listed and defined below as a prerequisite for Terra Firma's acceptance of the Bidder's Registration and Bid Card ID. All Bidders with NEGATIVE scores and UNPAID auctions will be revoked. The total amount due will be the final 'hammer' price plus the buyer premium (10%) and a $649 documentation/closing fee per auction lot. High bidder will receive the deed(s) to the property upon full payment of auction, subject to clearing of funds. Clear and unencumbered title of ownership will be transferred by Quit Claim Deed. Warranty Deed is available for an additional $1295.00. PAYMENT: CASH SALE - All payments in GUARANTEED funds only. This is a Real Property transfer, NO Credit Cards or PayPal for Real Property. CASH, WIRE TRANSFER or CERTIFIED BANK CHECK ONLY. PAYMENT IN FULL is required within FIVE (5) BUSINESS DAYS of auction end without exception. All Title Closings and Recordings are executed by our staff in house. Deeds in less than 30 days in most cases. An Earnest money deposit in the amount of $5000 is required at lot closing. Request for payment will be sent to winning bidder for the earnest money deposit and must be paid within 24 hours of auction close. FAILURE to make required DEPOSIT will result in FORFEITURE of interest in property. Earnest money deposit is NOT refundable. If bidder fails to submit balance due within 5 business days the earnest deposit is forfeit with no refunds or credits. The Earnest Money deposit will be accompanied by a non-contingent Purchase Agreement. Any bids or earnest money deposits are considered acceptance of aforementioned Purchase Agreement. BY REGISTERING FOR THIS AUCTION, BIDDER AGREES TO RECEIVE TEXT AND EMAIL CORRESPONDENCE ONLY AS RELATED TO THE SALE OF THE PROPERTY. CONDITIONS OF SALE: All properties are sold in "AS-IS" condition with all faults and defects and without warranty or guarantee of any sort. Prior to bidding, each bidder is advised and responsible to conduct an independent due diligence to ascertain characteristics, attributes and condition of the property. Failure to conduct diligence activities shall not constitute a waiver of any sort. TRANSFER OF OWNERSHIP. Conveyance of properties is completed by Terra Firma. Transfer via registered and recorded Quit Claim Deed. Bidder authorizes Terra Firma to act as Bidder’s agent to complete any closing documents, or any corrective documents thereafter. For each Lot, Bidder must specify the Deed Transfer Information. Should the Bidder fail to specify Deed Information within 10 business days after payment of balance, Bidder authorizes Terra Firma to convey each Lot using the Bidder’s name and address as registered in the auction. ALL SALES ARE SUBJECT TO SELLER APPROVAL.
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 100,000.00 100.00 USD
100,000.01 - 999,999.00 1,000.00 USD
Currency USD
Buyer Premium 10% BUYERS PREMIUM
Payment Terms
CASH SALE - All payments in GUARANTEED funds only. Being a Real Property transfer, we cannot accept Credit Cards or PayPal for Real Property. CASH, WIRE TRANSFER or CERTIFIED BANK CHECK ONLY. This auction is for real property and no credit cards are accepted for payment above and beyond the earnest deposit. 100% interest and ownership of the property will be transferred to the winning bidder. Earnest money deposit is required at closing. This earnest deposit is $5000. Terra Firma will contact you BY PHONE upon close of auction. Full Payment is due within 5 days of Auction Closing. Earnest money deposit is NOT refundable. If buyer fails to submit balance due within 5 business days the earnest deposit is forfeit with no refunds or credits given. The Earnest Money deposit will be accompanied by a non-contingent Purchase Agreement. Any bids or earnest money deposits are considered acceptance of aforementioned Purchase Agreement.
Terra Firma Auction Services will process all closings and deed preparation. In most cases deeds can be processed in less than 30 days. For each Lot, Bidder must specify the Deed Transfer Information. Should the Bidder fail to specify Deed Information within 10 business days after payment of balance, Bidder authorizes Auctioneer to convey each Lot using the Bidder’s name and address as registered in the auction. Deed will be executed same business day that full payment is received. It is the bidders responsibility to verify that all information is validated. This is fee simple, absolute transfer. Free and clear title shall be given by a standard quit claim deed free and clear of any back taxes, encumbrances or liens. Warranty deed is available for $1295.00. Warranty Deed is not required and option is only provided as a courtesy to buyers.