Texas County Oklahoma Land Auction
NW/4 of Section 33-T6N-R10E of Cimarron Meridian
Texas County, Oklahoma.
CRP Land (Tract #1) - Mineral Rights (Tract # 2)
Date & Time: Friday, December 6th – 10 am (CST)
Auction Location: Morton County Civic Center Conference Room, 1025 Morton Street, Elkhart, Kansas 67950
Legal Description: NW/4 of Section 33-T6N-R10E of Cimarron Meridian Texas County, Oklahoma.
Land & Mineral Overview: 160 +/- Acres of surface & mineral rights located in the northwest part of Texas County Oklahoma. Land (surface) is currently enrolled in the Conservation Reserve Program (CRP). Seller represents that minerals are not currently held by a lease.
Tract # 1 - 160 +/- Acres of Surface
CRP Contract Information: The contract period for the CRP dates from 10-1-2011 to 9-30-2021. The approximate annual contract payment is $5,594.00 with a rate of $35.47 per acre, as per the Farm Service Agency. (For official FSA copy, please see the auction files section)
Tax Information: Taxes for 2012 were approximately $313.28 as per the Texas County OK Assessor database. 2013 Taxes shall be prorated to the date of closing.
Tract # 2 - 160 +/- Net Acres of Minerals
Mineral Information: Seller will offer the minerals as tract # 2, separately during the live auction. The Seller represents they own 160 net mineral acres, and are not held by a lease.
Mineral Terms: 10% of the purchase price is to be placed in escrow the day of the auction, including the signing of a purchase contract. Mineral rights will transfer by Mineral Deed (without warranty) and subject to oil and gas leases of record. Abstracts and/or title documentation will not be provided. It shall be the Buyer’s sole responsibility to perform their own research, due diligence and examination of all records on properties to satisfy themselves as to the condition of title. Buyers are encouraged to review title on any properties they are interested in, prior to the auction.
Auction Method: The land will be sold in a public auction, in a live outcry style. Internet bidding may be available at the time of the live auction. Participation is allowed via telephone, if arrangements can be made prior to the auction, though no guarantee will be given. We encourage everyone to attend the live auction if they are able.
The land & minerals will be sold utilizing the per acre bid method. The auctioneer will multiply the per acre price by 160 to establish the contract price. Any and all bids will be confirmed by the seller during the live auction, with full intent to sell the property.
Order of the Auction: Auction will begin with brief remarks and overview of terms. Then, Tract #1 will be sold (160 acres of surface), followed by Tract # 2 (160 net mineral acres).
Auctioneers Note: It is a great honor to offer this Oklahoma land at public auction. This land has been held by the same family dating back to the early 1930's. We encourage you to take advantage of this opportunity and attend this auction. If you have any questions, please feel free to contact the auction company at 580-596-3838, or email the auctioneer at: [email protected]
Information is subject to change prior to auction.
Any announcements made day of auction take precedence over any previously published or stated material.
Brokerage services provided by Encompass FSI Real Estate, Tom Evans Broker, Josh Bellamy Sales Associate / Auctioneer.