AUCTION TERMS AND CONDITIONS
Helen Feder Multiple-Parcel Farm Auction April 1, 2026
PROCEDURE: This farm is offered in two tracts: Tract 1-63.81 acres and Tract 2-45.49 acres (per tax and assessment records). Bidding will be on-line only. Bidders will be able to bid on Tract 1, Tract 2, or both Tracts individually
Online Bidding: Online bidders must register at www.wallaceland.com prior to the auction. By registering to bid online you agree to abide by the Auction Terms and Conditions. If you are the successful bidder, you will be required to sign a real estate contract with Bill Scott, attorney for the seller. Bidding will conclude at 8:00 PM DST on Wednesday, April 1, 2026, UNLESS a bid occurs within 5 minutes prior to that time. If that happens, the auction is automatically extended an additional 5 minutes. This continues until a full 5 minutes pass without a bid. At that time, the auction is ended. THIS FARM WILL SELL TO THE HIGHEST BIDDER(S) UPON APPROVAL BY SELLER.
DOWN PAYMENT: A 10% down payment is due upon signing the real estate contract. If the Buyer defaults on the purchase, the down payment will not be refunded. THIS AUCTION IS NOT CONTINGENT UPON FINANCING.
CLOSING: Closing will occur in 30 days or less.
POSSESSION: The current lease has been legally terminated. The buyer(s) will have access to the farm upon signing of the real estate contract and payment of the 10% Down Payment.
REAL ESTATE TAXES: The 2025 real estate taxes payable in 2026 will be paid by seller via adjustments at closing using the most current tax information available. All subsequent taxes will be paid by the buyer(s).
TITLE: Seller will furnish the successful bidder(s) an Owner's Policy of Title Insurance in the amount of the purchase price and will provide an adequate deed, subject to standard exemptions, conveying ownership of the real estate to the buyer(s).
DISCLAIMER AND ABSENCE OF WARRANTIES: THIS PROPERTY IS BEING SOLD ON AN "AS IS" BASIS, and no
warranty or representation, either express or implied, concerning the property is made by either the seller or the auction company. Each bidder is responsible for conducting his/her own independent inspections, investigations, and all due diligence concerning the property and the auction.
AGENCY DISCLOSURE: In this auction, the auction company, staff, and auctioneer are sellers' agents and have a fiduciary duty only to the sellers. All acreages are assumed to be correct but are not guaranteed by the auction company. Bidders should do their own investigations and due diligence.