Real Estate Terms & Conditions

A DEPOSIT OF 10% (NON-REFUNDABLE) IS DUE ON THE DAY OF THE AUCTION WHEN THE SUCCESSFUL BIDDER WILL EXECUTE A STANDARD REAL ESTATE CONTRACT.  BUYERS SHALL PROVIDE A BANK LETTER OF CREDIT IN THE AMOUNT OF THE DEPOSIT OR THROUGH PRIOR ARRANGEMENTS SUITABLE TO SELLERS AND AUCTIONEERS. THE REMAINDER OF THE PURCHASE PRICE IS DUE AT CLOSING. SELLERS WILL PAY TRANSFER TAX AND PROVIDE A CLEAR, MARKETABLE TITLE AT CLOSING. REAL ESTATE TAXES WILL BE PRORATED TO THE DATE OF CLOSING. THE PROPERTY IS BEING SOLD “AS IS WHERE IS”.  SELLERS HAVE THE RIGHT TO REJECT ANY OR ALL BIDS. STATEMENTS ON THE DAY OF THE AUCTION WILL TAKE PRECEDENCE OVER ALL PRIOR COMMUNICATION, WRITTEN OR ORAL. THE INFORMATION GATHERED FOR THIS BROCHURE IS FROM SOURCES DEEMED RELIABLE, BUT FOX AUCTION COMPANY, BENCHMARK AGRIBUSINESS, AND THE SELLERS DO NOT GUARANTEE THE ACCURACY. ALL PROSPECTIVE BUYERS SHOULD DO THEIR OWN RESEARCH AND INDEPENDENTLY VERIFY ANY INFORMATION ON WHICH THEY ARE GOING TO BASE THEIR DECISION TO BUY. ALL ACRES ARE CONSIDERED MORE OR LESS. THE PROPERTY IS BEING SOLD SUBJECT TO ANY EASEMENTS OF RECORD OR PENDING. THE SELLERS DO NOT WARRANT OR GUARANTEE THAT EXISTING FENCES COINCIDE EXACTLY WITH THE RECTANGULAR SURVEY LINE. ANY NEW FENCING, IF APPLICABLE, WILL BE THE RESPONSIBILITY OF THE PURCHASER PURSUANT TO IOWA STATUTES. FOX AUCTION COMPANY AND BENCHMARK AGRIBUSINESS ARE AGENTS FOR THE SELLER. THE CLOSING AGENT IS FRED GREDER OF BENCHMARK AGRIBUSINESS.