Auction Terms & Conditions By bidding on an item in this sale you agree to the following terms.
ABSOLUTE AUCTION. All property sells to the highest bidders auction day without minimum or reserve bid! Successful bidders shall deposit 15% irrevocable earnest money auction day, with the balance due upon closing, on or before August 11, 2017. OR, ATTRACTIVE SELLER FINANCING OFFERED, an additional 10% down (25% total down), amortized up to ten years at 7% interest, all due within five years. Sold without buyer contingency of any kind. Have financial arrangements secured prior to bidding. Seller shall furnish a warranty deed showing marketable title and policy of title insurance, subject to easements, restrictions, and reservations of record. Title commitment available for inspection prior to the auction. 2016 and prior taxes paid, 2017 taxes prorated to closing. Descriptions and information are from sources deemed reliable, however, neither Seller, nor Auctioneer/Broker are making any guarantees or warranties, actual or implied. Property selling "as-is". Inspect to the extent deemed necessary, both on and off premise, and rely upon your own judgment when bidding. Auctioneers/Brokers represent the Seller in this transaction. Announcements made at the auction take precedence over any printed material or prior representations.
---REGISTRATION---
A credit card is required for auction registration to verify the identity of our bidders and to protect the integrity of our bidder's pool. Thank you for your cooperation.
If you believe you have registered but have not been asked to enter your credit card information YOU HAVE NOT FINISHED THE REGISTRATION PROCESS. The first lot you bid on will prompt you to enter your credit card information. Please bid early to ensure you are completely registered.
Preview Dates/Times:
Feel free to inspect these fine properties at your leisure. Approximate locations of corners are marked and maps are available onsite. OR, contact ReMax Advantage Realtors, Rapid City or Bradeen Auctions/Real Estate Center of Custer for a private showing.
Auction Dates/Times:
Live webcast bidding will begin on Tuesday, July 11, 2017 at 10:30 AM MDT. Online pre-bidding available beginning on Wednesday, July 5, 2017 at 6:00 AM MDT
ONLINE BIDDER METHOD OF SALE
The following procedure will be used to determine the new owner(s) of the Pennington & Custer Counties Prime Development/Commercial Property located in the Black Hills of South Dakota.
Please read the following procedure carefully, the Auctioneers - Brokers will answer any questions you may have prior to the opening bid.
1. To become a qualified bidder, you must register online and obtain a bidder's number. A credit card is required for auction registration to verify the identity of our bidders and to protect the integrity of our bidder's pool. Property will be offered as follows: Please refer to the live video/audio screen listing lot/tract numbers, amount bid, bidder #, and "Hold"/"Sold columns throughout the course of the auction.
*Note: You will need Adobe Flash Player installed to receive the live Video/Audio. Not all devices support Adobe Flash Player (some tables, cell phones, etc.) You will still be able to bid but will not receive live Video/Audio.
2. Two separate auctions will essentially be conducted to complete the sale of the property as follows: "Custer County Property" consisting of one 4.59 acre tract, and "Pennington County Property" consisting of 4 individual tracts totaling 29.02 acres. The entire property (5 tracts) will NOT be offered together as a complete package at any time.
3. After opening statements and any questions the Auctioneer will ask for bids on the "Custer County Property." Bids taken will be in US dollars for the entire Tract, NOT as dollars per acre. After bidding, the Auctioneer has the option to "Sell" or to "Hold" the bid for the "Custer County Property". If the Auctioneer "Holds" the bid then bidders will have the opportunity to bid again on the "Custer County Property". Auctioneer will announce when bidding will re-open.
4. Following initial bidding on the Custer County property the "Pennington County Property" will sell using the following method. The Auctioneer will ask for opening bids on high bidder's choice of individual tracts 1-4. All bids taken will be in US dollars PER ACRE, multiplied by the number of acres in the tract(s) of your choice. As high bidder you may choose any individual tract or any combination of tracts offered. Auctioneers will calculate the bid, place your bidder number, and note "Hold" in the appropriate columns.
5. Auctioneers will then ask for bids on any remaining tracts in the same manner until a price has been established on all 4 individual tracts.
6. After a price has been determined on each individual tract, the video screen will show the 4 individual tract prices as well as a combined total amount bid on the "Pennington County Property." The entire Unit (tracts 1-4 combined), will then be offered at a price over and above this amount. Auctioneers reserve the right to set the minimum acceptable raise. The high bid on the entire Unit will then be calculated and posted. If no bidding occurs on the entire Unit, Auctioneers will offer and SELL the 4 individual tracts in consecutive order, ALL BIDS WILL BE FINAL.
7. However, the "Pennington County Property" will be offered in individual lots and as an entire group until no further bids are received one way or the other. Multiple rounds of bidding may occur. 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 sale, either in individual lots or as an entire unit, bidding will be opened briefly to establish the successful bidder(s).
*Note: In the event that bidding occurs on the entire unit, individual lot bidders will be given the opportunity to advance their own bids in an attempt to achieve an overall amount greater than the entire unit bid.
8. Your competitive bidding, not the auctioneers, determines how many rounds will be held to establish the final sale price and owners(s).
9. "Sold" will be noted on the screen next to the appropriate lot(s). All property will be sold to the highest bidder(s) at absolute auction without minimum or reserve bid!
*Note: This is a multi-parcel auction. Online bidding may potentially be re-opened numerous times on each individual tract and on the entire unit before the final price is determined. As an online bidder, it is important to understand this method of sale and to closely follow the updated prices of each tract and the entire unit as the auction progresses.
The online bidding platform does not save internet bidder information when a lot is reopened. This information will be provided to internet bidders via the live "Video/Audio" and through the chat window. If a lot is reopened and an internet bidder had the leading bid, the bid will show as a "Floor Bidder" on the bidding site. The auctioneer will announce the leading internet bidders bid number and amount bid, and the internet bidders bid number and amount bid will be posted to the chat screen.
Please do not attempt to bid via the chat window.
If you have any questions or need further assistance with the online bidding process, please contact Bradeen Auctions at (605) 440-0739 prior to the auction. We will not be able to provide technical assistance for online bidding issues once the sale has started.
***ONLINE AUCTION DISCLAMER***
When using our online auction services, you are making firm commitments to purchase said item(s) and are entering into a legal and binding contract. Bids may not be cancelled or retracted for any reason. Nonpaying bidders or fraudulent bidding will subject you to legal recourse and possible criminal charges including any fraud and/or interstate commerce violations. You also acknowledge that the Internet may be an unreliable and error prone network. Bradeen Auctions will not guarantee that bids placed online will always be transmitted to or received by the auctioneer in a timely fashion. You agree to hold Bradeen Auctions and their employees harmless for any interruptions in online bidding. Further, the auctioneer has the sole discretion to accept or refuse any bid. Bradeen Auctions retains the right, at our sole discretion, to add, delete or change some or all of our online services and the terms and conditions governing their online auctions at any time without notice. Bradeen Auction further reserves the right to cancel and/or reopen the auction in the case of system failures.
If you have any questions or need further assistance, please contact Bradeen Auctions at (605) 673-2629 or email auctions@bradeenauction.com.
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Seller User Terms
Bidder User Terms
