REAL ESTATE AUCTION - Oppelo, AR
Thursday, Apr. 16, 2009 at 10:00AM CST
Location:
Highway 154, Oppelo AR, 72110
map & directions
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Like New, 4 Bedroom/2 Bath Home on 70+/- Total Acres of Prime Pasture & Woods in Oppelo, Arkansas ~ Several Excellent Home Sites w/Road Frontage, Water & Electric on All Tracts ~ Fully Stocked, 7+/...
Auction Details
Like New, 4 Bedroom/2 Bath
Home on 70+/- Total Acres of Prime Pasture & Woods in Oppelo, Arkansas ~
Several Excellent Home Sites w/Road Frontage, Water & Electric on All
Tracts ~ Fully Stocked, 7+/- Acre Private Lake ~ Offered
in 5 Tracts & Combinations ~
Located on Hwy. 154 in Conway County, Arkansas
DIRECTIONS (TRACTS 1 & 2): From I-40 in Morrilton, take Exit 108 & go 7.5 Miles South on Hwy. 9 ~ Turn Right on Hwy.154 & go West 1 Mile ~ Watch for Auction Signs on Right.
DIRECTIONS (TRACTS 3, 4 & 5): From I-40 in Morrilton, take Exit 108 & go 7.5 Miles South on Hwy. 9 ~ Turn Right on Hwy.154 & go West 1/2 Mile ~ Turn Right on Cemetery Road & go 1/2 Mile ~ Turn Left on Bailey Road & Watch for Property & Auction Signs on Left.
TRACT 1 DESCRIPTION: Like New, 4 Bedroom/2 Bathroom Home ~ Large Master Suite w/Built-in Office Area ~ Master Bath Contains Dual Vanities, Huge Walk-through Closet, Garden Tub & Separate Enclosed Shower ~ Large Bedrooms w/Spacious Closets ~ Open Kitchen w/Separate Dining Area ~ Living Area w/Wood Burning Fireplace ~ Inviting Family Room ~ Home sits on 30.63+/- Surveyed Acres w/Several Additional Prime Building Sites ~ Mostly Cleared w/a Few Mature Trees, 7+/- Acre Fully Stocked, Private Lake ~ Conveniently Located 1 Mile from Hwy. 9 in Oppelo w/1,460’+/- Hwy. 154 Frontage ~ All City Utilities.
TRACT 2 DESCRIPTION: 9.03+/- Surveyed Acres w/345’+/- Hwy. 154 Frontage ~ Mostly Wooded Land w/Cleared, Ready to Build Home Site ~ Electric, Water, Sewer & Gas on Property.
TRACTS 3, 4 & 5 DESCRIPTION: 3 Tracts each Containing 10+/- Surveyed Acres & 300’+/- Bailey Road Frontage ~ Excellent Mixture of Cleared Pasture & Timber w/Exceptional Building Sites & Abundant Wildlife ~ Electric & Water to all Tracts.
AUCTIONEER’S NOTE: If you’re looking for prime land in Conway County as a building site, for cattle farming, for recreational use or as an excellent real estate investment, don’t miss this opportunity. Take the time to drive by and inspect these properties today. A survey will be provided by the seller on all tracts at closing.
TERMS ON REAL ESTATE: (TRACT 1) $10,000.00 Cashier’s Check (NO EXCEPTIONS) Down Day of Auction, as Earnest Money ~ (TRACTS 2, 3, 4 & 5) $2,500.00 Cashier’s Check (PER TRACT) (NO EXCEPTIONS) Down Day of Auction, as Earnest Money ~ Balance Due at Closing ~ Closing within 30 Days ~ Title Insurance with Warranty Deed Provided at Closing ~ 10% Buyer’s Premium.
INSPECTION: Drive by & inspect these Properties anytime or Call for Appointment to View the Home.
Photos
Auction Terms
WILSON AUCTIONEERS, INC.
TERMS OF AUCTION
Wilson Auctioneers, Inc., an Arkansas corporation headquartered at 929 Airport Road, Hot Springs, Arkansas 71913(telephone 877-243-2289 or 501-624-1825 and facsimile 501-624-3473) and itsArkansas broker, Joe R. Wilson ("Broker") whose address is 929 Airport Road,Hot Springs, Arkansas 71913 (these parties collectively "Auctioneer") havecontracted with ("Seller") to offer to sell at public auction ("Auction")certain real property ("Property"). These terms, plus any additions, deletions,and/or revisions announced by Auctioneer before the commencement of theAuction, represent the exclusive terms for the Auction ("Terms of Auction").
1. AGENCY: Auctioneer is acting exclusively asan agent for Seller and not as an agent for any Bidder or Buyer. No third-partybroker is acting as a sub-agent of Auctioneers.
2. PROPERTY: The Property is described in theProperty Information Packet ("Information Packet"), a copy of which isavailable from Auctioneer and posted at the Auction.
3. DUE DILIGENCE: Seller and Auctioneer do notattempt to provide Bidder with all of the information Bidder may need to makean informed decision about the Auction and Property. Bidder should obtainprofessional advice and conduct due diligence on the Property, title commitment(available from Auctioneer and posted at the Auction), surrounding area, allinformation provided by Seller or Auctioneer, "Property Information Packet"(available from Auctioneer, online at www.wilsonauctioneers.com, and posted atthe Auction), public records, Terms of Auction, Auction, Sale Contract,transaction contemplated, and all circumstances, defects, facts, issues,matters, problems, and other relevant matters (collectively "Property Issues").All information provided by Auctioneer came from Seller and is believed to beaccurate, but neither Seller nor Auctioneer guarantees, represents, or warrantsits accuracy or completeness and Bidder should not rely upon it withoutindependent inspection and verification from sources Bidder knows to bereliable. Seller and Auctioneer are not required to update any informationprovided or published and shall have no liability on any basis for failing todo so.
4. DISCLAIMER: Participation in the Auction isat Bidder's sole risk and Seller and Auctioneer, plus their agents,contractors, and employees, shall have no liability on any basis. The Propertywill be offered in "AS IS, WHERE IS" condition. To the fullest extent allowedby law, Seller and Auctioneer unconditionally disclaim any guarantee,representation, or warranty of every kind, whether expressed, implied, orstatutory, whether oral or written, whether past, present, or future, withrespect to all Property Issues, except as expressly provided in the Terms ofAuction and the Sale Contract.
5. DISCLOSURES: The Property will be offered forsale and conveyed subject to all conditions, covenants, deeds, easements,reservations, restrictions, right-of-ways, title exceptions, and matters ofrecord. Maps, depictions, and sketches in any materials related to the Propertyare for illustration purposes only and Seller and Auctioneer do not guarantee,represent, or warrant their accuracy or completeness, Residential dwellingsbuilt prior to 1978 may include lead-based paint. Buyer of such property mustimmediately execute a "Lead-Based Paint Waiver" in favor of Seller to be madepart of the Sale Contract, thereby waiving Buyer's right to conduct any riskassessment or inspection for lead-based paint hazards. Every Bidder should readand understand the lead hazard information pamphlet provided and the "LeadWarning Statement" in the Sale Contract.
6. REGISTRATION: Any competent adult with asatisfactory photo identification who properly registers and complies with theTerms of Auction may bid. Auctioneer may refuse to register or expel any personwho is disruptive, noncompliant, or previously caused a problem for Seller orAuctioneer. Bidder must present a cashier's check in the amount specified under"Terms on Real Estate" to Auctioneer at registration. This must be in the formof cashier's check, made payable to Bidder. Any person intending to bid onbehalf of another must present Auctioneer with an executed, enforceable,recorded, and unexpired power of attorney which is subject to Auctioneer'sapproval. The requirements for Bidder registration may be waived by Auctioneerwith respect to any Bidder, without waiving same for any other Bidder. By registering, Bidder acknowledges receipt of the Terms of Auction and access tothe Sale Contract and unconditionally and irrevocably agrees to be bound byboth.Registration is required in order to bid online during the Auction andthere is no fee to register. In order to register for the Auction, please go towww.wilsonauctioneers.com, click on the "Bid Online" icon and fill out theRegistration Form. Please follow the instructions on the website carefully tomake sure you obtain final registration approval, which approval confirmationwill be e-mailed to you and will allow you to bid online during the Auction.Registration for online bidding closes 48 hours prior to the Auction. We highlyrecommend registering well in advance of Auction day to enhance your chances ofbeing notified of any pertinent changes that may take place prior to Auctionday.
7. BUYER'S PREMIUM: A ten-percent (10.00%)buyer's premium shall be in effect for the Auction and added to the amount ofthe highest bid to arrive at the selling price for the Property ("totalcontract price").
8. AUCTION: Auctioneer's discretion includes,but is not limited to, the auction method, bid-calling, bid increments, anddetermining the buyer. The decision of Auctioneer is final regarding allmatters that arise before, during, or after the Auction. Seller shall not bid.Bidder shall not retract any bid. Bidder's purchase shall be considered asingle transaction whether of the whole or a fraction of the Property. The saleof any fraction of the Property shall not be contingent upon the sale of anyother portion thereof, whether purchased by the same Buyer or not.
9. SALE CONTRACT: This is a cash sale and notcontingent upon any matter, including Buyer obtaining financing. Buyer shallimmediately execute the Sale Contract and all related documents presented byAuctioneer to bind Bidder and Seller to the sale of the Property. Any Buyerpurchasing on behalf of a business or arm of government ("artificial person")shall immediately execute the Sale Contract in both the artificial person's andbuyer's names, until such time as the artificial person presents Auctioneerwith acceptable, written evidence of the artificial person's good standing inits state of formation, plus written authority, in a form acceptable toAuctioneer, agreeing to be bound by the Sale Contract. Online bidders will begiven one eight hour business day to execute the Sale Contract. The Terms ofAuction are incorporated into the Sale Contract which defines the entireagreement between Seller and Buyer. The Terms of Auction complement the SaleContract and, in the event of any conflict between them, the Sale Contractshall control in all instances. Buyer shall execute the Sale Contract and noaddition, deletion, or revision shall be permitted.
10. DEPOSIT: Buyer shall immediately pay to Wilson Auctioneers, Inc. a cashier's check in the amount of 10,000.00 for (TRACT 1) and 2,500.00 (Per Tract) for (TRACTS 2, 3, 4 & 5). If for anyreason Buyer fails to timely execute the Sale Contract or pay the deposit,Seller has sole discretion, to: (a) pursue all legal and equitable remediesavailable against Buyer, or (b) declare Buyer's bid to be immediatelyforfeited, null, and void, without any requirement of notice, and immediatelyre-sell the Property to another buyer.
11. ARBITRATION: Any action, claim, controversy,counterclaim, dispute, or proceeding arising out of the Property Issues andinvolving Seller, Bidder, Buyer, or Auctioneer, in any combination, whethercontrolled by federal or state law, and whether an issue of law or equity,including the determination of the scope and applicability of this agreement toarbitrate, shall be determined and resolved exclusively by final and bindingarbitration, with no appeal permitted, except as provided by applicable law forthe judicial review or enforcement of arbitration decisions. The arbitrationshall be administrated by Judicial Arbitration and Mediation Services, Inc., orits successor, and decided by a panel of three (3) independent arbitrators.Judgment on the arbitration award may be entered in any court havingjurisdiction. The parties waive the right to any legal action and trial byjury. The costs of arbitration, including the fees and expenses of thearbitrators, but not including the parties' attorneys' fees, shall initially bepaid equally by them. The prevailing party shall be entitled to collect fromthe other its full costs associated with the arbitration, including reasonableattorneys' fees. All aspects of any arbitration shall be permanently keptconfidential and not disclosed in any form or manner to any entity, media, orperson, and the parties shall jointly move the court entering judgment on thearbitration award to so order. Any arbitration must be commenced within two (2)years from the date when the cause of arbitration accrues or it will be foreverbarred. The right of arbitration shall accrue, and the two (2) year limitationperiod shall begin to run, on the date the breach, damage, or injury issustained and not when the resulting damage or harm is discovered.
12. CHOICE OF LAW, JURISDICTION, AND VENUE: AnyAuction matter shall be exclusively construed and governed in accordance withthe laws of the State of Arkansas without regard to its conflict of lawsprinciples. The exclusive jurisdiction and venue for any controversy or claimbetween the parties shall be the County of Garland in the State of Arkansas.
13. MISCELLANEOUS: The Terms of Auction shallbind Bidders and their agents, assigns, attorneys, beneficiaries, brokers,directors, distributes, employees, executors, heirs, legatees, officers,representatives, shareholders, and successors in interest. No deletion,modification, supplement, or waiver of any provision of the Terms of Auctionshall be made, except by Auctioneer's written revision or announcement at theAuction.
14. EXCLUSION/DISCLAIMER OF WARRANTY: NeitherSeller nor Auctioneer makes any representations or warranties as to theaccuracy or completeness of any information contained online at the Auctionwebsite, in the Auction brochure or available at the Property and/or theAuction.
15. Upon registering as a Bidder and biddingduring the Auction, each Bidder shall be deemed to represent, warrant and agreethat with respect to each Property it bids upon (a) that such Bidder hasexamined, or has had the opportunity to examine, the Property and is familiarwith the physical condition thereof and has conducted such investigation of theProperty as the Bidder has considered appropriate, (b) neither Auctioneer norSeller, nor any affiliate, agent, officer, employee or representative of eitherof them has made any verbal or written representations, warranties, promises orguarantees whatsoever to the Bidder, expressed or implied, and in particular,that no such representations, warranties, guarantees, or promises have beenmade with respect to the physical condition, operation, or any other matter orthing affecting or related to the Property and/or the offering or sale of theProperty, (c) Bidder has not relied upon any representations, warranties,guarantees or promises or upon any statements made or any information providedconcerning the Property, including but not limited to on-line at the Auctionwebsite, in the Auction brochure or the information provided or made availableby Auctioneer, or by Seller, or their respective agents, employees orrepresentatives, and (d) Bidder has determined to make its bid after havingmade and relied solely on its own independent investigation, inspection,analysis, appraisal and evaluation of the Property and the facts andcircumstances related thereto. Upon registering as a Bidder and bidding duringthe Auction, each Bidder shall also be deemed to represent, warrant and agreethat (x) any information provided or to be provided by or on behalf of theSellers with respect to the Properties including, without limitation, allinformation contained online at the Auction website, in the Auction brochureand in the information being made available to Bidder by Sellers andAuctioneer, was obtained from a variety of sources and that Sellers andAuctioneer have not made any independent investigation or verification of suchinformation, and make no representations as to the accuracy or completeness ofsuch information, (y) without limiting the generality of the foregoing, neitherAuctioneer nor Sellers shall be under any obligation to disclose to any Bidder,and shall have no liability for its failure to disclose to any Bidder, anyinformation known to them relating to any Property except as may be required bylaw, and (z) Sellers and Auctioneer are not liable or bound in any manner byany oral or written statements, representations or information pertaining tothe Properties, or the operation thereof, furnished by any real estate broker,agent, employee, servant or other person.
