METHOD OF SALE-MARTIN BACHAND ESTATE AUCTION
The following procedure will be used to determine the new owners of the Martin Bachand Estate Property located in Meade County SD. Please read this procedure carefully, the Auctioneers-Brokers will answer any question you may have prior to the opening bid or any other time during the auction.
1. To be a qualified bidder you must register and obtain a bidder’s number.
2. Property will be offered as follows: Please refer to the reader board listing tract numbers, acreage, total bid, bidder number and status throughout the course of the auction. All Acreage is based on Meade County Assessor data.
3. After opening statements and any questions, the Auctioneer will ask for bids on Tract 1, then Tract 2, then a combination of Tracts 1 & 2 for the entire unit. All bids will be taken in dollars per acre, multiplied by the number of acres in the tract of choice. Auctioneers will calculate the total bid, place your bidder number in the appropriate column. This bid will be placed on “hold”. Auctioneers will then ask for bids on the remaining tracts in the same manner until a price has been established on each individual tract.
4. Calculations will then be made to determine the total amount bid based on the individual tract bids. The entire property will then be offered for a price over and above this amount, in dollars per acre. Auctioneers reserve the right to set the minimum acceptable raise. IF YOU ARE INTERESTED IN THE ENTIRE PROPERTY YOU MUST BID AT THIS TIME!! If no bidding occurs on the entire property auctioneers will then offer tracts individually and sell out to the highest bidders on each tract.
5. Property will be offered individually and as an entire unit until no further bids are received one way or the other. Multiple rounds of bidding may occur, if bidding occurs on the entire unit, individual tract bidders will be given the opportunity to advance their own bids in a6n attempt to achieve an overall greater bid than the entire unit bid. Once the property is offered either individually or as an entire unit without establishing an overall amount greater than the current high bid, the property will not be offered in that manner again. Upon determining the manner of the sale, either in tracts or as an entire unit, bidding will be opened again to establish the successful bidders. Competitive bidding, not the auctioneers, determines how many rounds will
be held to establish the sale price and new owners.
TERMS AND CONDITIONS OF REAL ESTATE AUCTION: THE SALE OF THIS PROPERTY AT AUCTION WITHOUT MINUMUM OR RESERVE AND WILL SELL TO THE HIGHEST BIDDER IN A MANNER REALIZING THE BEST RETURN TO THE SELLERS WITH NO BUYERS PREMIUM, 10% IRREVOCABLE EARNEST MONEY WILL BE REQUIRED AND DUE ON PURCHASE PRICE IMMEDIATELY FOLLOWING THE AUCTION. IF YOU ARE BIDDING ONLINE CONTACT BERTOLOTTO REAL ESTATE & AUCTION FOR SPECIFIC ONLINE BIDDING TERMS. BALANCE DUE TO BE PAID IN CERTIFIED FUNDS ON OR BEFORE 10:00 A.M. OCTOBER 2ND, 2023. WITH CLOSING AT BLACK HILLS TITLE COMPANY, 1855 BALL PARK ROAD, STURGIS SD. SELLER TO PAY ALL 2022 AND PRIOR TAXES, 2023 TAXES WILL BE PRORATED TO THE DATE OF CLOSING BASED ON CURRENT TAX INFORMATION. PROPERTY WILL BE SOLD WITHOUT BUYERS CONTINGENCY OF ANY KIND, MAKE SURE YOUR FINANCIAL ARRANGEMENTS ARE IN ORDER BEFORE BIDDING. POSSESSION WILL BE ON CLOSING. A TITLE INSURANCE POLICY WILL BE PROVIDED BY THE SELLER AND WILL BE AVAILABLE FOR BUYER INSPECTION BEFORE THE AUCTION. TITLE COMPANY CLOSING COSTS AND TITLE POLICY WILL BE SPLIT EVENLY BETWEEN BUYER AND SELLER. ALL INFORMATION HAS BEEN ACQUIRED BY SOURCES DEEMED RELIABLE, HOWEVER NEITHER THE AUCTIONEERS, ASSOCIATED PERSONAL OR THE SELLER MAKE ANY WARRANTY OR GUARANTEES EITHER EXPRESSED OR IMPLIED. PROPERTY IS SOLD STRICTLY "AS IS-WHERE IS". THE AUCTION COMPANY REPRESENTS ONLY THE SELLERS IN THIS TRANSACTION. ANNOUNCEMENTS MADE SALE DAY TAKE PRECEDENCE OVER ANY PRINTED MATERIAL OR PRIOR REPRESENTATIONS. NEITHER THE SELLERS NOR THE AUCTION CO. ARE RESPONSIBLE FOR PRINTING ERRORS. ALL BIDDERS ARE REQUIRED TO REGISTER FOR THE AUCTION, BIDS WILL NOT BE ACCEPTED FROM NON-REGISTERED BIDDERS IN ANY MANNER. REMEMBER, WE ARE NOT RESPONSIBLE FOR INTERNET ISSUES ON OUR END OR THE BIDDERS END! IF YOUR INTERNET SERVICE IS QUESTIONALBLE WE RECOMMEND YOU ATTEND THE LIVE AUCTION.
Qualified Broker Participation invited.