Name Hill City, SD Commercial Real Estate Auction
Auctioneer Bradeen Real Estate & Auctions
Type Online-Only Auction
Date(s) 6/25/2015 - 7/9/2015
Bidding opens on the auction at 6:00 a.m. MDT on Thursday, June 25, 2015. Bidding will close at 6:00 p.m. MDT on Thursday, July 9, 2015.
Preview Date/Time Property can be viewed at any time during the auction period. If you require further information or would like a realtor to assist you, please contact our office at (605) 673-2629.
Checkout Date/Time At the conclusion of the auction on July 9, 2015, the Winning Bidder will receive an email confirming his or her winning bid status. Upon acceptance by the Seller, the Winning Bidder shall be contacted to enter into a formal agreement to purchase, which will require a 15% irrevocable earnest money deposit, made payable to Bradeen Real Estate Trust. Contract signing and earnest money deposit will be required by the end of the next banking day after the close of the auction.
Location 525 Newton Avenue
Hill City, SD 57747
Buyer Premium No Buyer's Premium Charged
Description
HILL CITY, SOUTH DAKOTA COMMERCIAL REAL ESTATE AUCTION HIGH VISIBILITY .50 ACRE TRACT - 525 Newton Avenue, Hill City, SD ONLINE AUCTION - OFFERED JUNE 25 THROUGH JULY 9, 2015 PLACE YOUR BID AT www.bradeenauction.com - Online Auctions! Property consists of gently sloping .50 acre tract bordering Newton Avenue and Railroad Avenue in southeast Hill City, SD. This highly visible site is adjacent to the ever popular Mickelson Trailhead, Tracey Park and paved school/public parking. In addition, property features a newly constructed 24'x30' all steel building with two roll-up doors, electric power, concrete floor and apron, with city water onsite. The gently sloping lot is available for immediate possession, prior to the 75th Sturgis Motorcycle Rally. Income from a two-sided off premise advertising sign will transfer to Buyer. Building and real estate offered separately and as one unit. If sold separate, building to be removed by purchaser within two weeks of closing. Terms and Conditions: Online Auction only! Register and bid at www.bradeenauction.com. Bidding closes at 6:00 p.m. MDT July 9, 2015. 15% irrevocable earnest money from successful bidder, balance due within 30 days. Warranty Deed and title insurance provided. Taxes paid/prorated to closing date. Selling "As-is" without warranty of any kind. Potential bidders must inspect the property to the extent deemed necessary, both on and off premise, and utilize their own judgement when bidding. Seller makes no warranty as to the potential uses of the property. Contact City of Hill City, SD offices for further information. Broker represents Seller. Broker participation encouraged ATTEND: Personal Property Live Auction at the property on July 9, 2015. Selling vehicle, shop tools, household, sporting items, etc. Watch for details at www.bradeenauction.com. Auctioneer's Note: If you are searching for a prime commercial location in "the Heart of the Hills", look no further. This well located site is perfect for any number of uses, being located next to the Mickelson Trailhead and highly traveled Railroad Avenue. Call Auctioneers for details and place your bid online! Owner: Dale Kjerstad
Auction Terms & Conditions "ONLINE ONLY" REAL ESTATE BIDDING AUCTION TERMS AND CONDITIONS REGISTRATION: Proper and complete online registration is required to bid. All bidders must provide name, address, phone number, and email address to register. A credit card (MC, Visa, Discover or Amex) is required to actually place a bid on the property. The credit card will be validated before bidding access is granted, no charge will be made to your card. This is done to assure the integrity of all potential bidders. This is not a recognized form of payment of the deposit or purchase price, however, should a Winning Bidder fail to complete the contract signing process, the required deposit will be charged to the credit card provided at registration. By registering, all bidders acknowledge having read and agree to be bound by the Auction Terms and Conditions. Bidders may register prior to, or during the bidding period. At registration, bidders are given the option of receiving emails confirming their individual bids and/or when they are outbid. We recommend registering and bidding early, as Bradeen Auctions, Inc. will not be held responsible for technical problems which might prevent a bidder from participating. BIDDING ONLINE: The only way this property may be purchased is via online bidding during the published bidding period, or by written bid placed directly with Bradeen Auctions Inc. (If you need assistance placing a bid or prefer to submit a bid in person, please call our office for assistance. (605-673-2629) To place a bid online, bidders enter their "maximum" bid and click the "Place Bid" button. Each time that bidder is outbid by another bidder, the system will automatically bid on their behalf at the established bid increments up to their maximum. The system will advance the bid (by the bid increments) only when the bidder is outbid by another bidder, up to the bidders maximum. The Auctioneer does not know any bidder's maximum bid. The system will not advance a bidder's own bid. This online­only auctions utilize the "Soft Close" feature that automatically extends the bidding time if a bid is received in the last 5 minutes of the published bidding period. The extensions will continue until 5 minutes have lapsed without any bidding activity, at which time the auction is concluded. BUYER'S PREMIUM: Bradeen Auctions does not charge a Buyer's Premium. FINANCING: Financing is not a contingency of sale in this offering. Therefore, it is strongly recommended that potential bidders ensure in advance that they are able to obtain the necessary financing to close the transaction. CONTRACT SIGNING: At the conclusion of the auction the Winning Bidder will receive an email confirming his or her winning bid status. Upon acceptance by the Seller, the Winning Bidder shall be contacted to enter into a formal agreement to purchase, which will require a 15% irrevocable earnest money deposit, made payable to Bradeen Real Estate Trust. Contract signing and earnest money deposit will be required by the end of the next banking day after the close of the auction. Note that property-specific purchase documents are available prior to the auction end date and any professional reviews of such documents should be undertaken PRIOR to bidding. All final bids are subject to Seller's reserve, unless advertised otherwise. Any property with a high bid exceeding the Seller's reserve will be declared "sold" by the Auctioneer. In instances where the seller's reserve was not met in the auction, the signed contract and accompanying deposit will be presented to the Seller for approval, which shall be given or denied in the Seller's sole discretion within 5 business days. If approval is denied, all documents and the deposit will be returned immediately. DOWN PAYMENT (EARNEST MONEY DEPOSIT): The Winning Bidder shall be required to make an earnest money down payment equal to 15% of the total purchase price. This deposit must be paid by wire transfer or check delivered to Bradeen Auctions office in Custer SD, by close of business the day following the bidder being declared the Buyer. Buyers whose documents and deposit are not received within the required timeframe are subject to paying a liquidated damages amount equal to the down payment (charged to the credit card used at registration). CLOSING: The Buyer shall close within 30 days of the auction date. Seller shall furnish at seller's expense an Owner's Policy of Title Insurance in the amount of the total purchase price and shall execute a warranty deed conveying the real estate to the buyer(s). REAL ESTATE TAXES & ASSESSMENTS: 2015 taxes are to be prorated as of the closing date. EASEMENTS AND LEASES: Sale of said property is subject to any and all easements and leases of record. Current leases include the existing off-site signs (one, two sided advertising sign) located on the property. Sign rental income to be prorated to Buyer. AGENCY: Bradeen Real Estate & Auctions, Inc. represent the Seller in this Transaction. BROKER PARTICIPATION: A commission of 2% of the Buyers opening bid, and 1% of the difference between the opening bid and high bid will be paid to a licensed real estate broker representing the Buyer. Call for broker participation form which must be signed and submitted to Auctioneer/Broker prior to Buyer placing the initial bid. Not more than one Br high bid (unless a different percentage is stated in the property's MLS listing) will be paid to any properly licensed Broker who registers a successful buyer according to the appropriate Broker Participation Agreement. This form is available from Bradeen Auctions DISCLAIMERS AND ABSENCE OF WARRANTIES: The information in the auction advertising was obtained from sources believed to be accurate, but is subject to verification by all parties relying on it. All sketches and dimensions are approximate. No liability for its accuracy, errors or omissions is assumed by the Seller or the auction company. All bidders are responsible for conducting their own inspections, investigations, inquiries and due diligence concerning the property. The property is being offered on an "AS IS", "WHERE IS" basis and no warranty or representations, expressed or implied, is made by the Seller or the auction company. All information contained in the advertising and all related materials are subject to the terms and conditions outlined in the purchase agreement. We hope you enjoy bidding in the online auction! --------------------------------------------- ------------------------------------------ Terms Of Use

Seller User Terms

Bidder User Terms
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 20,000.00 250.00 USD
20,000.01 - 1,000,000.00 500.00 USD
1,000,000.01 - 9,999,999.99 10,000.00 USD
Currency USD
Buyer Premium No Buyer's Premium Charged
Payment Terms
FINANCING: Financing is not a contingency of sale in this offering. Therefore, it is strongly e undertaken PRIOR to bidding. All final bids are subject to Seller's reserve, unless advertised otherwise. Any property with a high bid exceeding the Seller's reserve will be declared "sold" by the Auctioneer. In instances where the seller's reserve was not met in the auction, the signed contract and accompanying deposit will be presented to the Seller for approval, which shall be given or denied in the Seller's sole discretion within 5 business days. If approval is denied, all documents and the deposit will be returned immediately. DOWN PAYMENT (EARNEST MONEY DEPOSIT): The Winning Bidder shall be required to make an earnest money down payment equal to 15% of the total purchase price. This deposit must be paid by wire transfer or check delivered to Bradeen Auctions office in Custer SD, by close of business the day following the bidder being declared the Buyer. Buyers whose documents and deposit are not received within the required timeframe are subject to paying a liquidated damages amount equal to the down payment (charged to the credit card used at registration). CLOSING: The Buyer shall close within 30 days of the auction date. Seller shall furnish at seller's expense an Owner's Policy of Title Insurance in the amount of the total purchase price and shall execute a warranty deed conveying the real estate to the buyer(s). REAL ESTATE TAXES & ASSESSMENTS: 2015 taxes are to be prorated as of the closing date. BROKER PARTICIPATION: A commission of 2% of the Buyers opening bid, and 1% of the difference between the opening bid and high bid will be paid to a licensed real estate broker representing the Buyer. Call for broker participation form which must be signed and submitted to Auctioneer/Broker prior to Buyer placing the initial bid. Not more than one Br high bid (unless a different percentage is stated in the property's MLS listing) will be paid to any properly licensed Broker who registers a successful buyer according to the appropriate Broker Participation Agreement. This form is available from Bradeen Auctions DISCLAIMERS AND ABSENCE OF WARRANTIES: The information in the auction advertising was obtained from sources believed to be accurate, but is subject to verification by all parties relying on it. All sketches and dimensions are approximate. No liability for its accuracy, errors or omissions is assumed by the Seller or the auction company. All bidders are responsible for conducting their own inspections, investigations, inquiries and due diligence concerning the property. The property is being offered on an "AS IS", "WHERE IS" basis and no warranty or representations, expressed or implied, is made by the Seller or the auction company. All information contained in the advertising and all related materials are subject to the terms and conditions outlined in the purchase agreement.
Possession of property will be given upon closing. Immediate possession available upon full settlement.