LAFAYETTE COUNTY LAND AUCTION

GEORGE AND MARJORIE HUGHES ESTATE LAND AUCTION

Mary Marjorie Hughes Trust

Monday, February 22, 2021 will be a landmark day for both the Hughes Family and most importantly for any Farmer or Investor that wishes to purchase a large, fertile, tract of tillable farm ground.

The Hughes farm consists of 537 acres and we will offer, at auction, the updated 397.88 surveyed acre parcel that is deemed the farm ground.  The balance which is home, hay ground and timber will remain in the Hughes Family.

**UPDATED JANUARY 28, 2021** THE SURVEYED ACRES SELLING AT AUCTION ARE: 397.88.

A survey will be completed prior to sale day and will dictate the actual acres that will be sold at auction.  Access will be along Maries Creek Rd. as well as a 40 foot ingress/egress easement that will run the entire distance from HWY T along the Farm Lane, all the way to the farm ground near the center of the parcel.

We ask that when you view this farm ground you do so with a 4-wheeler ATV or UTV when the ground is dry or frozen to help maintain the integrity of the newly established or cleaned drainage channels.  A Gator may be made available between February 1 thru February 22nd to assist in viewing the property.  Feel free to call Mike Williams, 816-797-5450 if you need help viewing the property.   

We cordially invite you to be with us at the Hughes Farm for this land auction, visit with the Hughes Family and exercise your option to participate in this impeccable land auction.

AUCTION INFORMATION

Method of Auction:  The land will sell in one tract by the dollar per acre value.  The surveyed acres will be the multiplier to determine the final selling price.  The survey and actual acres will be complete prior to the auction and will be posted on the Wheeler website as soon as it is available.  Feel free to call Mike, 816-797-5450 for that update.

**UPDATED JANUARY 28, 2021** THE SURVEYED ACRES SELLING AT AUCTION ARE: 397.88.

Contract:  We will write the land sale contract immediately following the conclusion of the auction.

Down Payment:  A 10% non-refundable escrow down payment will be required at the contract signing and the check will be payable to Truman Title Company.

Possession:  Immediate possession will be granted to the buyer following the auction proceedings.

Tenant:  There is no tenant agreement in place for the 2021 crop year.  The current tenants would like to submit a proposal to the new buyer to continue farming this land in the event that a non-farmer entity purchases the ground.  Other farmers in the area would like to rent this ground as well.

Showing:  Feel free to view this farm when the ground is dry or frozen.   A gate is across the farm lane and we ask that you close it when you leave the property.   We also ask that you use a 4-Wheeler ATV or UTV of some type to view the property.  A Gator may be made available between February 1 thru February 22nd to assist in viewing the property.  $4000 was spent in the fall after harvest to clean or in some cases to establish new laser guided drainage channels and we all wish to keep those in-tack and functional.

Note on Water Management:  This farm is very fertile, relatively flat bottom ground and easy to farm with big equipment.  It lays along Davis Creek as its south border.  Davis Creek is very straight, very deep, and very wide along this property which helps to eliminate flooding.  Both the Tenant of over 24 years and the Hughes Family, remember this farm only being under water once.  

It does not possess tiling in the bottoms, only surface water drainage, and to truly unlock all the potential for extremely high yields, some buyers may want to create a tile and tile outlet system to maximize production.

Taxes:  The tax rate for 2020 on the entire farm of 573 acres which included the home, the timber, and the farm ground totaled $2935.04.  The 2021 taxes will be reestablished based on the new boundaries and acreages by the Lafayette County Assessor with the auction parcel of farm ground potentially in a range of $1800 to $2100.  Exact taxes are yet to be determined.

The new buyer will be responsible for the 2021 taxes on the Real Estate they possess.

Final Selling Values:  We have been advertising 383 acres M/L however the final selling price will be determined by the auction price per acre times the actual surveyed acres in the parcel. 

**UPDATED SURVEYED ACRES 397.88**

Utilities: West Central Electric Company LLC and Lafayette County Rural Water District #2 offer service lines along a portion of Maries Creek Rd however there are no meters for Electric or Water on the property.

Schools:  The parcel is in the Lafayette County C-1 School District

AUCTION TERMS AND CONDITIONS

Down Payment: Ten percent (10%) nonrefundable down payment the day of auction, upon signing a purchase agreement immediately following the close of bidding. The down payment may be paid in the form of personal check, business check, or cashiers check. The remainder of the purchase price is payable at closing within 30 days. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING. Be sure you have arranged financing, if needed, and are capable of paying the balance at closing.

Title: Seller shall provide and execute a proper deed conveying the real estate to the buyer(s). Seller to pay for title insurance.  Buyer and seller will split the closing costs.

Real Estate Taxes: The new buyer shall be responsible for 2021 taxes and all periods thereafter.

Acreage/Survey: The entire parcel is surveyed and will sell by the surveyed acre.

Mineral Rights: The sale of the property shall include 100% of the mineral rights owned by the seller.  

Easements: Sale of the property is subject to any and all easements of record.  A 40 foot wide ingress/egress easement will be recorded with the survey, on Maries Creek Rd beginning at Highway T and in conjunction with the  farm road to the property.  This East/West road easement will turn South and be on the existing farm road that goes to the farmland property.  This shared easement will be mutually maintained by any and all owners that possess real estate property that can be accessed along this ingress/egress farm road easement.  A second gate may be placed on the property farm road, with all land owners possessing a key to use this easement lane when necessary.  

Closing: On or before Wednesday, March 24, 2021 at the office of Truman Title Company., Lexington or Higginsville, MO.  This closing date will be strictly adhered to in order to accommodate other interests in the name of the Trust.

Agency: Wheeler Auctions & Real Estate and its representatives are Exclusive Agents for the sellers.

Disclaimer: The property is being sold on an “as is, where is” basis, and no warranty or representation, either express or implied, concerning the property is made by either the sellers or the auction company.  Each bidder is responsible for conducting its own independent inspections, investigations, and all due diligence concerning the property and the auction.  Information contained in this brochure is subject to verification by all parties relying on it.  Diagrams/dimensions in this brochure are approximate.  Acreage is surveyed.  All information contained in this brochure and any related materials are subject to the terms and conditions of sale outlined in the purchase contract.  Auction conduct and bidding increments are at the sole direction and discretion of the auctioneer.  All decisions of the auctioneer are final.  The sellers and the Auction Company reserve the right to preclude anyone from bidding if there is a question as to the person’s credentials, fitness, intent, etc.

New Data, Corrections and Changes:  Please arrive prior to scheduled auction time to inspect any changes, corrections or additions to the property information. ALL ANNOUNCEMENTS AND INFORMATION GIVEN FROM THE AUCTION PODIUM SHALL TAKE PRECEDENCE OVER PREVIOUSLY PRINTED OR STATED ADVERTISEMENT.

NO BUYERS PREMIUM AT THIS AUCTION – WHAT YOU BID IS WHAT YOU PAY.