ONLINE ONLY - 655.31 +/- Acres in Hockley County For Online-Only Auction

Start Bidding:

7/12/2023 6:00:00 PM CT

End Bidding:

8/9/2023 6:00:00 PM CT

Event Date:

8/9/2023 6:00:00 PM CT
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    655.31 +/- Acres in Hockley County For Online-Only Auction

    Real Estate

    Description: exciting investment opportunity being offered at auction just 15 minutes from lubbock. This 655.31+/- acre land tract is located on fm 21

DESCRIPTION: Exciting investment opportunity being offered at Auction just 15 minutes from Lubbock. This 655.31+/- acre land tract is located on FM 2130 just 2.2 miles south of US Hwy 84 and is only 14 miles to Lubbock City Limits.  This tract has 1 mile of paved frontage and county road access on all other boundaries. It is also only 8.5 miles on pavement to FM 179 in Shallowater and just over 10 miles south on 2153 to State Road 114 (19th Street).  There is access to electricity on the east side and some overhead electricity on multiple boundaries of property.  With great accessibility this land boasts mostly Acuff loam, Portales loam and Amarillo fine sandy loam which are soils that are well suited for irrigated and non-irrigated crops such as cotton, wheat, and milo as well as a variety of improved and native grasses.  There is playa lake area on the Eastern side of the property that is designated as Flood Zone A which is comprised of mostly Ranco clay.  There are multiple areas of Individual Homesite and Ranchette development in the immediate area.  This property has a great location and some unique features that should make it stand out against most.

LEGAL DESCRIPTION: BEING all of Section 68, Block A, R.M. Thomson Survey, Hockley County, Texas, and being further described by metes and bounds as follows:

BEGINNING at a 80D Nail found in the intersection of Kansas Road and F.M. 2130 for the common corner of Sections 68, 71, 70, and 69;

THENCE South 2°36'55” West - 5403.01 feet along said FM 2130 to a Railroad Spike found for the common corner of Section 68, 69, 54, and 55;

THENCE North 87°23'50” West - 5282.08 feet to a 1/2 Inch Iron Rod with Cap set for the common corner of Section 68, 55, 56, and 67, from which a Railroad Spike found for the common corner of Sections 67, 56, 57, and 66 Bears,

North 87°23'50” West - 5280.16 feet and a 1/2 Inch Iron Rod found for the common corner of Sections 55, 52, 51, & 56 Bears, South 2°35'09” West - 5398.38 feet;

THENCE North 2°35'09” East - 5402.51 feet to a 1/2 Inch Iron Rod found for the common corner of Sections 68, 67, 72, & 71;

THENCE South 87°24'10” East - 5284.87 feet to the POINT OF BEGINNING and containing 655.31 acres of land, more or less.

TOPOGRAPHY: The farm slopes gradually south-eastward and generally towards playa area located in the middle eastern area of the property.  There is a portion of this area that is designated as Flood Zone A.

IMPROVEMENTS: There is an old homestead on the farm that is not in livable condition, along with a couple of other dilapidated structures including an old barn.  There was at one time a residential well and windmill located close to the home.  The current owners are unsure of the viability of either of those currently.  There are also 3 additional wells used to water cattle by current tenant and another old windmill site (not in use) The wells pumps, pipe, panels and wire were set up by tenant and will most likely be removed by the tenant at the end of the lease period.  One of the current wells has an underground line that feeds two existing earthen tanks. Any personal property located on the farm is the property of the current tenant and will not be offered in the auction.

WATER FEATURES:  There is a significant Playa Lake located on the property that is designated as a Flood Zone A, which also serves as a natural resource area for wildlife and has a few large trees around its border.  There are also two earthen tanks that are used to water cattle but are also used by wildlife.

FENCING: There is no fencing on the property other than temporary hot wire fencing that is owned by the tenant.

WILDLIFE, HUNTING AND RECREATION: This land is located in area that has quail, dove and occasional mule deer hunting in wet seasons when there is good cover and vegetation around playa areas and remainder is planted to wheat, could be further developed into recreational area with different land practices.  Current owners have deer hunted the land in the past.

SOIL: Soils on Farm are predominantly classified as Acuff loam, Portales loam and Amarillo fine sandy loam with some Ranco clay in playa lake area in middle eastern area of the farm.

USDA INFO: The farm is currently enrolled in the USDA Farm program and FSA-156EZ is included in Property Information Packet.  The FSA-156EZ indicates there is base acres for seed cotton, wheat, and grain sorghum.

TAXES: $1884.18 from 2022 w/exemptions

LEASES: Subject to the existing agricultural leases, as follows: Surface Livestock and Agricultural Lease to Barry Altman and Diane Altman Joint Venture, through December 31, 2023.

TITLE RESERVATIONS: Seller warrants that this Property will sell without Title reservations related to wind, mineral, or solar.

FURTHER REPRESENTATIONS: There was a small pit dug at one time on property for household trash, there is a Flood Zone A located on the property.

COMMENTS:  For more information or to schedule a showing of this property contact Monty Edwards at 806-786-5426.

TERMS:

Online Auction Bidders Agreement

THIS IS A LEGALLY BINDING DOCUMENT. IF YOU DO NOT UNDERSTAND THE TERMS AND CONDITIONS AS SET FORTH HEREIN, PLEASE CONSULT AN ATTORNEY PRIOR TO SIGNING.

 I ___________________________________________________________ (Buyer) agree to immediately enter into a Purchase Contract if I am declared the high bidder (winning bidder) by the auctioneer during the following auction:

Description of Land (Full legal descriptions in Title Company).

 

BEING all of Section 68, Block A, R.M. Thomson Survey, Hockley County, Texas, and being further described by metes and bounds as follows:

BEGINNING at a 80D Nail found in the intersection of Kansas Road and F.M. 2130 for the common corner of Sections 68, 71, 70, and 69;

THENCE South 2°36'55” West - 5403.01 feet along said FM 2130 to a Railroad Spike found for the common corner of Section 68, 69, 54, and 55;

THENCE North 87°23'50” West - 5282.08 feet to a 1/2 Inch Iron Rod with Cap set for the common corner of Section 68, 55, 56, and 67, from which a Railroad Spike found for the common corner of Sections 67, 56, 57, and 66 Bears, North 87°23'50” West - 5280.16 feet and a 1/2 Inch Iron Rod found for the common corner of Sections 55, 52, 51, & 56 Bears, South 2°35'09” West - 5398.38 feet;

THENCE North 2°35'09” East - 5402.51 feet to a 1/2 Inch Iron Rod found for the common corner of Sections 68, 67, 72, & 71;

THENCE South 87°24'10” East - 5284.87 feet to the POINT OF BEGINNING and containing 655.31 acres of land, more or less.

 

 Bidding Open & Close Dates/Times:

o   Online Bidding Opens on July 12th, 2023 at 6:00pm CDT

o   Online Bidding Closes on August 9th,  2023 at 6:00pm CDT

 By signing below, I agree that I have read and fully understand the Online Auction Bidders Agreement and the Terms and Conditions of this auction.

I fully understand and agree that an Online Auction Bidders Agreement MUST be signed and returned to the auction company, prior to being allowed to bid in the Online Auction.  As a bidder, it is solely my responsibility to contact the auction company at (806)686-6371 or the Auctioneer directly at (806)786-5426 with any questions regarding the auction, purchase agreement, or terms & conditions, prior to placing any bids in said auction. 

 Online Auction Terms & Conditions

1) Seller’s Confirmation: The property is being offered in an Online Only Auction, with all bids being subject to approval by Seller.

2) Auction Bidding Registration: Online bidder hereby acknowledges that they must be properly registered for the online auction by completing and signing the (Online Auction Bidders Agreement), which will be sent by email via DocuSign. Upon completing this registration form and receiving approval, bidding privileges will be turned on. If you need assistance with registration, you may contact Monty Edwards at (806)786-5426 or by email at Monty@MEdwardsAuction.com.  Seller(s) may at their sole discretion request additional registration requirements from any bidder unknown to them or the auction company.

3) Bidding Opens/Closes: The Online Only Auction (i.e. Internet Auction) bidding shall be opened and begin closing on the dates and times stated above.  

4) Property Preview: The property can be previewed by contacting the auction company at (806) 686-6371 or the Auctioneer directly at (806) 786-5426. Buyer agrees to indemnify, defend and hold harmless property owner from any damages resulting from Buyer's preview of the property. Property previews are encouraged prior to placing a bid in the auction. There may be cattle in the pasture, so please keep all the gates closed while inspecting. Please do not drive in tall grass to avoid fire hazard. Direct all questions to the auction company, see website for preview dates when staff will be onsite.

 

5) No Financing Contingency: By participating in this auction, bidders hereby agree that their bid shall NOT be subject to the bidder’s ability to obtain financing. By placing a bid in this auction, bidders are making a “cash offer” to purchase the property and financing is NOT a contingency in the purchase agreement.

6) Buyer’s Premium: A Five Percent (5%) Buyer’s Premium shall be added to the final bid price placed online, which will determine the Total Contract Sales Price. Bidders hereby understand that the Buyer’s Premium shall be added to the winning bid to create the Total Purchase Price for which they are obligated to pay for the property.

7) Purchase Contract: Winning bidder hereby agrees to enter into a Contract to Purchase the property immediately upon being notified of the Seller’s acceptance of their winning bid. Upon the close of the auction the winning bidder will be forwarded via email the Auction Real Estate Sales Contract to purchase the property. A signed copy of the Auction Real Estate Sales Contract must be received by the Auction Company (United Country Real Estate - M. Edwards Realty & Auction) within 24 hours from the time said Purchase Contract was sent to the winning bidder. The Auction Real Estate Sales Contract may be (hand delivered, faxed, or scanned and emailed).  A copy of the Auction Real Estate Sales Contract is available for review online prior to placing any bids in the auction.    

8) Down Payment/Earnest Deposit: A non-refundable down payment of Ten Percent (10%) of the total contract purchase price will be wire transferred or hand delivered in the form of certified funds to the Title Company no later than 48 hours following the close of auction. See closing agents contact information below. The balance of the purchase price will be due in full at closing.

9) Closing: Closing shall be on or before September 12th, 2023.  Closing shall take place at Hockley County Abstract and Title Company, 609 Austin Street, Levelland, TX 79336. Closing Agent is Amber Hinson and her phone number is (806) 894-6127, email is hockleyabstract@valornet.com. Out of state buyers will be afforded the opportunity to close remotely.

10) Easements: The sale of the property is subject to any and all easements filed of record.

11) Minerals and Other Title Reservations and/or Special Provisions: Seller warrants that this Property will sell without title reservations of any kind, including but not limited to wind, mineral, or solar reservations.  Buyer acknowledges receipt of such Exhibits and specifically consents to the inclusion of such reservations and special provisions in the aforementioned purchase contract.

12) Survey: In the event any purchased tract requires a survey to determine the legal description, the cost of the survey will be paid by the Seller. If the same buyer or entity purchases two (2) adjoining tracts and no interior survey is required to separate said tracts, then any additional survey desired by the buyer will be at the buyer’s sole discretion and cost. 

13) Possession: Possession of the property will be given upon payment in full of the purchase price and transfer of title at closing, subject to the existing agricultural leases, as follows: Surface Livestock and Agricultural Lease to Barry Altman and Diane Altman Joint Venture, through December 31, 2023.

14) Title: Seller shall provide a Preliminary Title Commitment for the property being sold. Seller shall pay for the issuance of the Title Policy for the property being sold and transferred. Seller shall execute a Special Warranty Deed conveying the property to the buyer(s).

15) Taxes: Seller shall pay any previous years taxes (if due), and the current year’s real estate taxes shall be prorated to the date of closing.

16) Online Auction Technology (Disclaimer): Under no circumstances shall Bidder have any kind of claim against United Country Real Estate – M. Edwards Realty & Auction, Broker of record, or anyone else, if the Internet service fails to work correctly before or during the auction. Online bidding is subject to technology faults and issues which are outside the control of the auction company. Bidder(s) are encouraged to use the “Maximum Bid” feature on the bidding platform and lock in their maximum bid amount, if they are concerned about technology failure during the auction. The SELLER and/or Auction Company reserves the right to (pause) the online auction bidding in the event of any internal or external technology failure, to preserve the integrity of the auction event and maintain a fair and impartial bidding environment.

17) Soft Close: If a bid is received within the last 3 minutes of the auction, the auction close time will automatically extend 3 minutes to allow other bidders an opportunity to competitively bid prior to the auction closing. This feature eliminates "snipers" and encourages fair and impartial bidding from all participants.

18) Disclaimer: All information provided is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, etc. are approximate. Buyers should verify the information to their satisfaction. Information is subject to change without notice.  There are no warranties either expressed or implied pertaining to this property. Real estate is being sold "As-Is, Where-Is" with NO warranties expressed or implied. Please make all inspections and have financing arranged prior to the end of bidding. The Auctioneer reserves the right to bid on behalf of the Seller up to, but not beyond the Seller’s reserve price (if applicable). The property is available for and subject to sale prior to auction. By participating in this auction, Buyers hereby acknowledge that any bid(s) placed by them is a binding agreement to purchase the property, subject to the bid being approved by Seller (if applicable).

DOCUMENTS:

Questions? Contact Us!

Monty Edwards

(806) 686-6371

monty@medwardsland.com

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