Name 50 Acres on 425 N at Montongo
Auctioneer Orrell Auctions and Real Estate
Type Internet Absentee Bidding
Date(s) 11/1/2017 - 11/15/2017
Online Bidding: register & bid online from now until Nov 15th at 11:00 am Live bidding: Bid Live at the office of Orrell Auctions & Real Estate PLLC at 1815 Hwy 278 E Monticello, AR. Wednesday Nov 15th, 2017, registration at 10:30am until "call for live bids" at 11am. (Your live bid will be entered online by auctioneer) All Bidding will close at 11:15am. Winning bidder to sign contract and submit earnest money immediately after auction closes. Corners and property lines are marked, view on your own or call Jimmy at 870-723-9116 for a personal showing.
Preview Date/Time View the property anytime, the lines and corners are well marked, or call Jimmy at 870-723-9116 for personal showing. Bid online or live.
Location Property located on Hwy 425 N 6.8 mi. north of intersection of Hwy 425 & 278
Monticello, AR 71655
Buyer Premium 10% buyer premium
Description
Auction of 50 acres of timber & recreational land with potential home sites, near Lake Monticello, at Montongo, on Hwy 425 N, 6.8 miles north of the intersection of Hwy 425 and 278 in Monticello. Corners and lines are well marked for ypur convenience but not guaranteed accurate. 50 acres (44 acres useable) part on each side of Hwy 425 at Montongo. The land west of 425 appears to be suited for home sites if you desire a house on a wooded hill. The land east of 425 is wooded, has a lot of deep gulleys and looks like it would be suited for ziplining or a motocross track. The southern end of the property is near Campground Road. The northern end of the property is near the bottom of the hill just north of the gravel road. At both ends of the property, flagging on each side of Hwy 425 marks where the property line crosses the highway. The southwest corner is at N 33degrees 43’47.16”, W91degrees 49’0.33” on Campground Road across from Redneck Lane. You’ll see a light pole and a large pine tree on the north side of the road. Notice the flagging and an old fence that is generally on the line for about 100 yards through the woods traveling north. The northwest corner is N 33degrees 44’0.15”, W 91degrees 49’0.41” On the north end of the property, follow the flagging and white paint line a short distance west off Hwy 425 and the corner is marked with a concrete block near a large oak witness tree. Flagging and an old wire fence that are generally on the line, lead south for about 100 yards. The east / west line is marked with white paint on trees and flagging and crosses 425 then also crosses the gravel road that turns off of Hwy 425 near the north end of the property. The southeast corner is at N 33 degrees 43’47.24”, W 91degrees 48’40.58” and is most easily found by leaving Hwy 425 on the road next to a power station just south of the property. There is a Y in the road, stay to the left. This road cuts across the southeast corner of the property. The corner is marked with flagging. The road then leads to the power line. Turn left, travel down the power line and you’ll see flagging where the property line crosses the power line. The northeast corner is at N 33degrees 44’0.21”, W 91degrees 48’40.80” and can be found east of the powerline by following the white paint line and flagging to a large oak witness tree. The land is accessible from Hwy 425, Campground Road, the gravel road at the north end and a road south of the property next to a power station. I have marked corners and property lines with flagging for your convenience only and although they do coincide with white paint lines, witness trees, previous flagged markings and old fences, I do not guarantee them to be accurate. GPS coordinates also are approximate and not guaranteed to be accurate. You may view the property at any time on your own or call Jimmy @ 870-723-9116 for a personal showing.
Bidder requirements: Live: If you prefer to bid live, you may register to bid, beginning at 10:30 am Nov. 15th at the office of Orrell Auctions & Real Estate PLLC at 1815 Hwy 278 E Monticello. Live bids will be called for beginning at 11am and entered in to the online auction by the auctioneer for the live bidder. Online:To bid online, you must register with name, address, valid credit card information, valid phone number, and valid email address. You may bid online any time from Wed Nov 1st at Noon until the auction closes at 11:15 am Wed Nov. 15th 2017. By registering to bid, you acknowledge agreement and acceptance of all auction terms and conditions. Summary of Real Estate Auction Terms: Property sells Subject to Sellers' Confirmation, "as is", by legal description, with no warranties or contingencies. 10% buyer premium. $5000 down on day of auction, balance due at closing in approximately 30 days. Seller to provide Warranty Deed and title insurance. Real Estate Auction Terms: Final bid is Subject to Seller's Confirmation: Seller has up to 48 hrs. to accept or reject Buyer Premium: A 10% buyer premium will be added to the final bid price to determine the contract price. Ex: $50,000 bid price + (10%) $5000 = $55,000 contract price Purchase Agreement/Contract: At the conclusion of the auction, the successful bidder will sign a purchase agreement in the amount of their bid plus the 10% buyer premium. When accepted and signed by the seller, this agreement becomes the purchase contract. Down Payment/Earnest Money: With purchase agreement, Bidder will submit $5000 to be deposited and escrowed in Orrell Auctions & Real Estate PLLC's Trust Account. Down payment will be credited to buyer at closing or returned to the bidder if Seller rejects bid. Balance of purchase price required in approximately 30 days at closing. If you cannot close you will forfeit your down payment. Acceptable Currency for down payment: Cashier's check, wire transfer, direct deposit or good personal or company check pre approved by auctioneer or accompanied by bank letter guaranteeing payment. Warranties & Contingencies: 1. Property sells "as is" with no warranties from the seller other than good title. Inspections should be conducted before the auction. If you bid, you are agreeing that you are satisfied with the Property in its current condition at the price you bid. 2. Financing: Property sells with no contingencies for financing, and no financing is offered by the seller. Financing should be arranged before bidding. If you cannot pay the balance at closing, you will lose your down payment/earnest money. 3. Corners of Property may or may not be marked. If marked, it is for your convenience only. Bidders are responsible for verifying accuracy to their own satisfaction before bidding. Survey: Optional, at buyers expense Title: Seller will guarantee good title at closing by providing owner's title insurance and a warranty deed free of all liens and encumbrances but subject to any easements of record. Closing will be in approximately 30 days from auction. Seller pays 1/2 closing fee, 1/2 Revenue Stamps, Owner's Policy of Title Insurance, deed preparation. Buyer pays 1/2 closing fee, 1/2 Revenue Stamps, deed recording fee and any other expenses generated by Buyer, including, but not limited to, Loan Policy of Title Insurance, hazard insurance premiums, survey, Buyer's attorney fees, and any other fees associated with Buyer's loan, if any. Property taxes will be prorated as of the date of closing. Orrell Auctions & Real Estate PLLC - 1815 Hwy 278 E - Monticello, AR - 870-7123-9116 - AALB # 1947
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 100,000.00 1,000.00 USD
100,000.01 - 9,999,999.99 10,000.00 USD
Currency USD
Buyer Premium 10% buyer premium
Payment Terms
High bidder to submit $5000 earnest money immediately after close of the auction. Acceptable payment is cash, check , wire transfer or direct deposit into Orrell Auctions & Reall Estate PLLC Escrow Acct . Earnest money will be credited to buyer at closing or returned to buyer if bid is rejected or if seller fails to fulfill their contractual obligations.