This auction will be conducted by Beadles-Hamar Auction and Real Estate, Alvin Beadles, broker, Texas license 16213
Questions regarding real estate should be directed Beadles-Hamar Auction and Real Estate at 405.590.3831.
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Each auction has unique terms.
Monday through Friday9:00am to 5:00pm CDT
Saturday10:00am to 3:00pm CDT
We are closed on Sundays.
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Auction date and time
The auction will be held at 1 p.m. CDT on August 12, 2008.
Close of bidding
Internet bidding closes before the auction at 12 p.m. CDT.
Property inspection
Open houses will be held on Sundays August 3 and August 10 from 2pm to 4pm. For other inspections please call our office at 316.788.7253 to schedule an appointment.
Cooperation
This auction is being conducted in Thomas, Oklahoma by Purple Wave Realty, LLC in conjunction with Beadles-Hamar Auction and Real Estate.
Property location
13.79 acres of commercially zoned, livestock fencing conveniently located near I-35
Auction location
The auction will be conducted at the property location
Legal description
Lowe TWP 8-28-1W TR Beginning NE 1/4, SW 1/4, TH W 280' to TR POB, TH Continue 912.4' to E Line of A T and S F RR R/W TH Sely anlong RR 1750' N 134' to A PT on W R/W of US HWY #177 TH NWLY along W R/W Line of said HWY a Distance of 1185' to TR POB
Taxes
Taxes in 2007 were $194.12
Zoning
No zoning codes/regulations in Rural Kay County
13.79 acres +/- of commercially zoned livestock fencing conveniently located near I-35.
This property is located 8 miles from Blackwell and less than 2 miles from I-35. Past livestock facility with holding pens, sorting alleys, scale house Fairbanks-Morse Scale (30,000 pund capacity) model number9288, ground and semi load-out, sale ring, and fencing throughout on 13.79 acres, adjacent to the Braman Co-op. The sale will offer mineral rights on the land, mineral income statistics are available in the property information packet available on purplewave.com. Kay County has imposed no zoning restrictions on this property, allowing for residential or commercial use. Offices are located on the interior of this free span steel building with interior cinder block wall construction and a metal roof. The office section of the building is heated, cooled and approximately 40 feet long consisting of two offices (19 x 13'6 and 19'6 x 13'8) and one large meeting room (40 x 29'6). Three phase service available. Utilities consist of electricity, (City of Braman), propane, city water, and private sewer. A railroad runs along the South end of the property. All located on paved frontage just outside of Braman, Oklahoma! This property is being offered by Braman Service, Inc. Braman City Website
Mineral rights will be offered for auction separately or can be sold as a whole with the property. Please see internet bidding above or call our office for further details.
Property is selling subject to farmer tenant's surface rights and possession of tillable ground will be given when 2008 soybeans are harvested.
If you have any questions about the property or the auction schedule please contact our office at 316.788.7253.
8695 N Hwy 177
Thoroughly read the property information document and familiarize yourself with the properties offered and the auction terms and conditions. If you will require financing, please see a lender for pre-qualification. If you have questions about the terms, conditions or purchase agreement, contact our office and speak with one of the auction staff.
Attend an open house/preview and inspect or drive-by each property in which you are interested. Establish a range of value for the property and bid within your limits. We do not recommend that you bid on a property that you have not seen. There is not an inspection period after the auction.
The deposit listed in the terms is due upon being declared the winning bidder on auction day. The deposit is non-refundable.
When preparing a sealed bid, if offered, read through the property information package. It may contain title information, income/expense statements, surveys, and general property information. It will also completely detail the sealed bid process.
All information about the property has been provided by the seller. All bidders must verify all information to their own satisfaction prior to bidding.
Immediately upon completion of the auction, winning bidders will be required to execute an Auction Contract. Please be prepared to close the transaction within 30 days.
Buying real estate at auction is simple and easy.
Good luck in your bidding!
For the properties located at 8695 N Hwy 177 in Braman, OK, to be auctioned on August 12, 2008, a commission will be paid to any properly licensed real estate broker whose buyer is the successful purchaser of this property and who actually closes and pays the total contract sale price for the property. The commission shall be paid as follows:
Three percent commission will be paid on any pre-sale or written opening bid amount shown on the broker participation form, included in this document or available upon request. A one percent commission will be paid on the amount by which the successful high bid at auction, not including the buyer's premium, exceeds the bid amount indicated on the broker participation form.
If an opening bid is not written on the broker participation form, or the form is not submitted according to the terms listed thereon, then a one percent commission will be paid to the broker on the full amount of the successful high bid.
To earn the buyer broker commission, the participating broker must register his or her bidder by completing the broker participation form in full and must fax, mail, or email it to the auctioneer. The form must be received no later than 24 hours prior to the start of the auction.
Download buyer broker participation form
The form should be sent to
Beadles-Hamar Auction and Real Estate
121 West Broadway
Thomas, OK 73669
abeadles@pldi.net
580.661.3286 fax
Conditions of sale
Everyone must register for a bidding number. A (10% of contract price) non-refundable earnest money deposit the day of the auction. Balance in cash (certified funds) at closing.
Buyer's premium
A 10% buyer's premium will be added to
the winning bid to establish the contract price. For example, a bid of $100,000 will be assessed a $10,000 buyer's premium, creating a contract price of $110,000.
Title, Restrictions
Seller warrants to convey marketable title to the property through a warranty deed, free from all encumbrances, liens, or judgments at the time of closing. However, the property is sold subject to all city, county, and state laws, ordinances, and regulations as well as any and all easements, encumbrances, and restrictions of record applicable to the property. Seller is imposing no restrictions on the property.
Release
By its acceptance of the deed, buyer shall be deemed to release seller, Purple Wave Realty, LLC, and Purple Wave, Inc. in cooperation with Beadles-Hamar Auction and Real Estate, from any and all claims and liabilities relating to any defect, deficiency of other matter concerning the property including, without limitation, the quality, condition, quantity, or use of the property. Sellers, Purple Wave Realty, LLC, and Purple Wave, Inc. in cooperation with Beadles Hamar Auction and Real Estate, give no warranties of any kind either expressed or implied, with respect to the condition, merchantability, usability, size, configuration, design, or suitability of the property.
Legal Remedies
Bids are a binding offer to enter a contract and you are responsible for honoring them. Every legal remedy available will be used to ensure performance of buyer's obligations. Buyer agrees, for buyer and all of buyer's agents, representatives, successors and assigns to release and indemnify, defend and hold harmless sellers, Purple Wave Realty, LLC, Purple Wave, Inc., in cooperation with Beadles-Hamar Auction and Real Estate, their employees, governing body, officers, owners, affiliates, subsidiaries, directors, agents, and representatives from and against any and all claims, losses, damages, liabilities, judgments, fees, costs, and expenses including reasonable attorneys' fees and expenses related to, arising from, or associated with (I) the sale of the property, including, but not limited to, personal injuries or property damage incurred on the sale premises or during removal and transport of any auction item, (II) buyer's use of Purple Wave, Inc.'s website and online bidding features and (III) a dispute with another bidder.
Arbitration
For disputes between buyer and seller, Purple Wave Realty, LLC and/or Purple Wave, Inc. in conjunction with Beadles-Hamar Auction and Real Estate, that are not resolved by the parties within ten days after any party gives notice to the others of its desire to arbitrate the dispute, the dispute shall be settled by binding arbitration by the American Arbitration Association ("AAA") in accord with its then-prevailing rules. Such arbitration shall be conducted in Manhattan, Kansas. Judgment upon the arbitration award may be entered in any court having jurisdiction. The arbitrator shall have no power to change the provisions of this agreement. The arbitrator shall consist of one arbitrator, who must be a real estate attorney actively engaged in the practice of law for at least the last five years. The party demanding arbitration shall pay all filing fees necessary to commence the arbitration under AAA rules.
Internet bidding
Bidders may place absentee bids via the
Internet pre-auction bidding features available at www.purplewave.com. Purple
Wave Realty, LLC and Purple Wave, Inc. will implement Internet pre-auction
absentee bids on behalf of the bidders who place them, but no guarantees are
made that the bidder with the highest Internet bid before the live auction will
be the ultimate winning bidder of any tract or combination of tracts. Purple
Wave Realty, LLC and Purple Wave, Inc. strive to implement Internet pre-auction
absentee bids effectively, but no implementation guarantees or warranties are
made.
Bid rejection
Purple Wave Realty, LLC and Purple Wave, Inc. in conjunction with Beadles-Hamar Auction and Real Estate reserve the right to reject any and all bids from any bidder.
Bid retraction
By placing a bid, bidders acknowledge all terms of this auction and agree not to retract the bid. If a bidder cannot satisfy the terms of the auction, the bidder should not bid.
Assessment of condition
All bidders should rely solely on their or their agent's personal inspection of the property and not on information listed in property information documents, on www.purplewave.com, or otherwise provided by Purple Wave Realty, LLC, Purple Wave, Inc. in conjunction with Beadles-Hamar Auction and Real Estate or seller. Failure to inspect, or otherwise be fully informed as to the nature, quality, condition, quantity, and size of any property will not constitute grounds for any claim, adjustment, refund, termination of the Auction Contract or refusal to close the sale. Any information provided about the property has been provided by seller or is a matter of public record.
Auction Contract
Immediately after Auctioneer declares winning bidder(s), the winning bidder(s) will be required to execute an auction contract ("Auction Contract") in a form that is available for prior inspection either on this website or from Purple Wave Realty, LLC in conjunction with Beadles-Hamar Auction and Real Estate.
Cooperation and privacy
This auction is being conducted by Purple Wave Realty, LLC in conjunction with Beadles-Hamar Auction and Real Estate. Internet bids will be collected by Purple Wave Auction, Inc. and will be represented on the website. Confidential buyer information will not be shared by Purple Wave Auction, Inc, Purple Wave Realty, LLC in conjunction with Beadles-Hamar Auction and Real Estate.
Disclaimer
This information is only a guide and is subject to additions or deletions. Descriptions are believed correct, however, auctioneers or owners make no warranties or guarantees as to genuineness, authenticity of, or defect of any items and will not be held responsible for advertising discrepancies or inaccuracies. Announcements made day of sale will supersede all other advertisements. Seller or auction company not responsible for accidents.
Real estate brokerage services disclosure
Real estate brokerage services disclosure Purple Wave Realty, LLC, and its auctioneer, Purple Wave, Inc. in conjunction with Beadles-Hamar Auction and Real Estate, represent the seller in this transaction. They do not represent the buyer in any manner and they must be completely loyal and faithful to the seller. Purple Wave Realty, LLC in conjunction with Beadles-Hamar Auction and Real Estate, has an exclusive right to the listing for this transaction. All negotiations must be conducted through Purple Wave Realty, LLC in conjunction with Beadles-Hamar Auction and Real Estate. All successful bidders will be required to sign an agency disclosure form at the time of signing the Auction Contract, as applicable.
Property Dimensions and Units
The property will be sold
by the tract, not the acre. Acreages used in promotional and sales materials are
a guide and subject to change pending surveys obtained by buyers after the
auction. Descriptions are believed to be correct, however neither Purple Wave
Realty, LLC, Purple Wave, Inc., nor seller(s) warrant or guarentee precise
accuracy and will not be held responsible for discrepancies or inaccuracies.
Utilities
Neither Purple Wave Realty, Purple Wave Auction, Inc. in conjunction with Beadles-Hamar Auction and Real Estate, nor the seller guarantees the availability of utilities, public or private. This exclusion consists of, but is not limited to, wells, septic tanks, access to public utilities, or any hook-up fees therewith. Confirmation of utility availability is the bidder's sole responsibility.
Payment Terms & No Contingencies
A non-refundable earnest money deposit will be collected from the winning bidder immediately after close of bidding. The earnest deposit will total 10% of the total contract price. The balance shall be payable in cash on the closing date. This transaction is not contingent on the buyer obtaining financing or upon any other event except as specifically referred to in these terms and conditions or the Auction Contract. Personal or business checks for the deposit amount will be accepted with a bank letter guarantying payment of such funds.
Remedies
If buyer does not close within the time stated herein and in the Auction Contract, and no written extension has been granted by the seller, the buyer will forfeit all of the earnest money deposit and Purple Wave Realty, LLC in conjunction with Beadles-Hamar Auction and Real Estate, may disperse the deposit as stated in the agreement between Purple Wave Realty, LLC in conjunction with Beadles-Hamar Auction and Real Estate, and seller. Notwithstanding the foregoing, seller may seek any other relief or remedy in law or equity, including suing the buyer for specific performance, which buyer expressly agrees is permitted, and/or any additional damages the seller suffers by the default of the buyer.
Escrow
All monies collected on sale day will be deposited in the Beadles-Hamar Auction and Real Estate Trust account.
Possession
Buyer shall receive possession of the property on the closing date established in the Auction Contract, which is typically 30 days after the auction
Closing Costs, Title Insurance and Other Transaction
Fees
Seller will pay one-half of the fees for escrow agent/closing agent's services and one-half the cost of an owner's policy of title insurance. Seller shall pay no other costs or fees. Buyer shall pay all other closing costs and transaction fees associated with purchasing the property. Such costs and fees include but are not limited one-half the cost of an owners' policy of title insurance, fees charged by a lender or lenders, property insurance, mortgage insurance, credit report(s), property legal survey, all recording fees, one-half the fees for escrow agent/closing agent's services, termite or other pest inspection fees, whole house or lead based paint inspection fees, and fees and expenses charged by buyer's attorney.
Closing location and agent
The closing location and agent will be determined on or before the auction date and reflected in the Auction Contract
Taxes
Real estate, personal property, and other taxes or governmental assessments against the property will be prorated to the day of closing.
Miscellaneous
These terms, except as modified by the Auctioneer during or prior to the auction, constitute the complete terms of this auction. They shall be construed in accordance with and governed by the laws of the state of Oklahoma. No delay or failure by seller to exercise any right hereunder, and no partial or single exercise of such right shall constitute a waiver of that or any other right, unless otherwise expressly provided in these terms. These terms shall be binding upon and inure to the benefit of all bidders, seller, Purple Wave Realty, LLC, Purple Wave, Inc. in conjunction with Beadles-Hamar Auction and Real Estate and their respective heirs, legal representatives.
