4.5 Acre Rolling Wooded Property – Estate Absolute Auction – October 5

Filed as: Past Auction, Past Real Estate Auction, Sold Real Estate 
Posted on: Monday, September 20th, 2010

When: October 5, 2010 – Personal Property @ 3:30, Real Estate @ 5:30
Where: 31195 Aster Road, Lincoln, MN
Preview: Saturday, September 25, 2010 – 10:30 to 11:30
Seller: Herb Sheldon Estate, Irene Sheldon, Owner

This real estate auction presents a fantastic opportunity to acquire the old Lincoln School House which has been converted to a home in a good country setting in the Lincoln Lakes area.

• Beautiful 4.5 acre rolling wooded property with
• 22 X 73 foot brick former Lincoln School building
• Including 950 sq ft living space with 2 bedrooms
• And also 440 sq feet of shop / storage room
• Excellent home site for future development
• Well
• 2002 Septic System
• Private wooded setting
• Multi use property!
• Great location just off US Hwy #10 in the Lincoln Lakes Area

The county valuations total $80,000.00 for the two parcels which will be sold to the highest bidder, regardless of price. Morrison County parcel numbers 29.0401.000 and 29.0387.002.

Online Bidding
As with most of our specialty auctions, in an effort to accommodate all interested parties, we are offering live online bidding powered by Proxibid. Please visit our online bidding page to register and bid. For technical support please contact Proxibid directly at (877) 505.7770.

Absentee Bids/Phone Bidding
While we prefer any absentee bids or phone bids be handled by placing a pre-bid online, we understand that this is not always possible. If you would like to place an absentee bid or phone bid, you will need to make arrangements with our office no later than the close of business on October 4.

Real Estate Terms & Conditions
Earnest Money: The sum of Three Thousand Dollars ($3,000.00) shall be deposited as earnest money by the high bidder in the trust account of Schultz Auctioneers Landmark Realty, Inc. but to be returned to the Seller if the Buyer fails to perform pursuant to the Purchase Agreement. Therefore, the earnest money is non-refundable.
Buyer’s Premium: A ten percent (10%) buyer’s premium will be added to the high bid price to equal the contract price used in the purchase agreement. For example, a bid price of $50,000.00 would equal a contract price of $55,000.00 ($50,000 + $5,000). An additional buyer’s premium of 1% applies to online, phone or absentee bidders.
Brokers Participation Accepted: A broker co-op will be paid to properly registered brokers. The broker registration form must be returned at least 48 hours prior to the auction.
Real Estate Taxes: Payable in 2010 will be pro-rated to closing.
Terms: Cash, due and payable at time of closing. Successful bidder will enter into a standard Minnesota Purchase Agreement. It will be at the Auctioneer’s discretion as to the increments of bids and process to reach the top and final bid. Any financing (mortgage or otherwise), if necessary, should be made prior to the auction. The property is sold without contingencies.
Closing: Remaining balance due on or before the 10th day of November 2010.
Preview of the property is essential prior to the auction!
Agency Disclosure: Schultz Auctioneers Landmark Realty, Inc. is acting as a Seller’s broker in this transaction. A Seller’s broker is a broker who represents the Seller and acts on behalf of the Seller. Therefore, Schultz Auctioneers Landmark Realty, Inc. must act in the Seller’s best interest and must tell the Seller any information disclosed to him or her. Therefore, the Buyer will not be represented and will not receive advice and counsel from the broker or salesperson. For further information, please contact our office for an Agency Relationships in Real Estate Transactions disclosure.
Reservations: Property is sold subject to easements of record.