real estate - Purple Wave, Inc.

Oklahoma
real estate
auction
Tuesday, May 8 | 10:00 am CDT
BH
Beadles
-Hamar
auction and real estate
Alvin Beadles, broker/auctioneer
Texas license 16213
405.590.3831
This home at 42777 McAlester Drive, Wister, Okla., will be sold at public auction on Tuesday, May 8, 2007.
property guide | table of contents
letter from the auctioneer..................................................................3
disclaimer........................................................................................4
survey.............................................................................................5
property information.........................................................................6
survey........................................................................................... 10
disclosure...................................................................................... 11
pictures......................................................................................... 14
floor plan....................................................................................... 16
location......................................................................................... 18
buyer broker participation................................................................ 23
recommendations........................................................................... 25
terms............................................................................................ 26
conclusion...................................................................................... 32
© 2007 Beadles-Hamar Auction and Real Estate and Purple Wave Auction Inc.
letter | from the auctioneer
Dear prospective buyer,
We at Beadles-Hamar Auction and Real Estate and Purple Wave
Auction Inc. are pleased to offer real estate at 42777 McAlester Drive
in Wister, Okla.
The property will be sold at live auction on Tuesday, May 8, 2007, at
10:00 am. The auction will be held at the property location.
Internet bidding will close one hour prior to the live auction. Visit
purplewave.com to bid, view pictures and video tours of the property
and review property information. Visit Beadles-Hamar at
www.beadles-hamar.com.
If you have any questions, contact Alvin at 405.590.3831. Purple Wave
staff is available by phone at 785.537.5057 on Monday through Friday
from 9:00 am to 5:00 pm CDT and on Saturday from 10:00 am to
3:00 pm. Please feel free to contact us during this time if you have
questions or require further information.
We appreciate your interest in the auction and we look forward to
seeing you on auction day.
Alvin Beadles
Broker/auctioneer
Beadles-Hamar Auction and Real Estate
121 West Broadway | Thomas, OK 73669
405.590.3831 | [email protected]
purplewave.com | 3
auction | disclaimer
All properties are selling in their present, “as-is” condition and accepted
by buyer(s) without any expressed or implied warranties from the seller(s)
or sellers’ agents. It is incumbent upon buyers to exercise their own due
diligence prior to bidding on the properties. It is the responsibility of the
prospective buyer(s) to have any and all inspections completed prior to
auction day, including, but not limited to, termite, roof, structure, electrical,
mechanical, plumbing, groundwater, flood designation, environmental,
presence of lead-based paint and/or lead-based paint hazards, presence
of mold, and other desired inspections, if any. Information is given from
sources deemed reliable but not guaranteed by the seller(s) or
auctioneers/Realtors.
Information provided on websites is only a guide and is subject to change
without notice. Descriptions are believed to be correct; however, neither
auctioneers/Realtors nor seller(s) make any warranties or guarantees as
to genuineness, authenticity of, or defect of any items and will not be held
responsible for advertising discrepancies or inaccuracies. Announcements
made the day of the sale will supersede all other advertisements. Neither
the seller(s) nor auctioneers/Realtors shall be held responsible for accidents.
No recourse or cause of action will lie against seller(s) or
auctioneers/Realtors should buyer(s) become dissatisfied with his or her
decisions respecting bidding on or purchasing the properties described
herein, whatever they may be.
4 | purplewave.com
property | survey
purplewave.com | 5
property | information
The property is located in LeFlore County,
Oklahoma and consists of approximately 177
acres. It lies approximately three miles east of
LeFlore, Okla.
Lot 4001 | tract 1
∙ Southeast parcel, 27.84 acres
∙ Frontage on Leflore, Road
With 1273.19 ft of frontage on LeFlore Rd, tract
1 would make a great homestead. It includes a
pond that was dug out last year and a creek with
a year-round live spring.
Lot 4002 | tract 2
∙ Northeast parcel, 23.9 acres
∙ Borders Wister Public Hunting land
Tract 2 is located on the northeast part of the
property. It features a creek and a pond and
borders Wister Public Hunting Area on the north.
Lot 1003 | tract 3
∙ Northwest section, 85.46 acres
Tract 3 is located north and west of tracts 1 and 2
and its west side borders the county-maintained
McAlester Drive. It is the largest of the tracts.
It features several nice ponds including two
neighboring small ponds that, in the past, were
used as a minnow hatchery. There are also
corrals located on the west side of the property.
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property | information
Lot 4004 | tract 4
∙ North of house, 34.95 acres
∙ Includes poultry barns
Tract 4 is located west of McAlester Drive. It
features two 400’ x 36’ poultry barns that were in
operation as late as last spring. The barns were
under OK Farms from Fort Smith and could be in
production with them again but the barns would
require upgrades. Several feed bins and two
1,000 gallon propane tanks are located between
the barns.
The hay ground which surrounds the barns has
been fertilized with the chicken litter. It has
historically produced as many as 300 4’ x 5’ bales
over three total cuttings in a year.
A quarter-acre pond lies approximately 80 yards
west of the north barn. Sassafras trees can be
found 150 yards north of the north barn.
Lot 4005 | tract 5
∙ House and pole shed, 5.0 acres
∙ West side of road
House
The house is a single-story, two bedroom, single
bathroom home built in 1974. A two-car carport
is attached to the north side. Attached to the
west side of the carport is an 8’ x 9’ playroom or
storage room. A lean-to awning extends from the
west side of the house providing shade over the
back door.
purplewave.com | 7
property | information
The front door on the east side of the house
enters to a large, carpeted living room with
a stove set on a small, bricked area in the
northeast corner. An electric heater is mounted
on the west wall and a window air conditioner
is mounted directly north of the main entrance
near the stove. The southwest corner of the living
room leads to the bedrooms and the bathroom.
The two bedrooms are located on the south side
of the house. They feature windows on each
exterior wall and closets. The bathroom is north
of the west bedroom.
On the west side of the living room is the dining
area and west door. The kitchen is located south
of the dining area. A double porcelain sink sits
directly under a window facing west into the yard.
The appliances selling with the house include a
Whirlpool gas range, a Kenmore refrigerator with
ice maker, a Whirlpool Ultimate Care II washer,
a heavy duty dryer and an Ace Countryman 40
gallon propane water heater.
North of the living room is the study which could
easily be a third bedroom. A large, walk-in closet
is in the northwest corner and bookshelves line
the south wall east of the entrance.
Outbuildings
The property features two outbuildings. An 8’
x 16’ storage building sits directly west of the
house and a 40’ x 40’ pole shed lies 70 yards
west of the house. West of the pole shed are the
8 | purplewave.com
property | information
hog pens.
Utilities
A fire hydrant is installed on the southeast corner
of the property near the road to reduce insurance
premiums. LeFlore county has some of the best
rural water service in Oklahoma; the property
is located in the Summerfield water district.
Electricity is provided by the Kiamichi Electric
Cooperative based in Wilburton, Oklahoma. While
McAlester Drive is a dead-end road that ends
north of the house, it is a county-maintained
road.
purplewave.com | 9
Dimensions are approximate.
10 | purplewave.com
property | survey
property | disclosure
purplewave.com | 11
12 | purplewave.com
property | disclosure
property | disclosure
purplewave.com | 13
property | pictures
Home located at 11674 Bob’s Lane
East from deck on south side
of home
South showing yard and edge
of pond from deck
East from yard
Southeast from yard
Southeast from yard near road
South from road west on west
side of property
Northwest from Flush Road
Home and shed from
neighboring property
Northwest from intersection of
Bob’s Lane and Flush Road
Southwest from northeast
corner of property
14 | purplewave.com
property | pictures
South from corner of property
Southwest from road directly
north of shop
Southeast from road west of
property
Southeast from road west of
property
Southeast from road west of
property
Southeast from road
South from road north of
house
Southeast from road north of
house and shop
Southwest from road showing
driveway
South showing house and
driveway from road
West from shop
West from shop showing house
and large yard
purplewave.com | 15
Dimensions are approximate.
16 | purplewave.com
property | floor plan
property | floor plan
Dimensions are approximate.
purplewave.com | 17
property | location
The property is located in LeFlore County, Oklahoma and consists of
approximately 177 acres. It lies approximately three miles east of LeFlore,
Okla., or approximately 23 miles southwest of the county seat of Poteau,
Okla., near the intersection of Oklahoma highways 270 and 271.
Paved county road 154, also known as LeFlore Road, leads from LeFlore to
OK-271. McAlester Drive is a county-maintained road that intersects LeFlore
Road about three miles east of LeFlore. The house and its five acres are
located a ¼ mile north of LeFlore Road on the west side of McAlester Drive.
The broiler barns and the 34.95 acres are located just north of the house.
137 acres of pasture land is located on the east side of McAlester, with
parts bordering CR-154. The 137 acres will be offered in three parcels, one
of 27.84 acres which borders CR-154, one of 23.90 acres on the northeast
which borders the public hunting land and the remainder of 85.46 acres
which borders McAlester Drive on the west.
The property is located approximately 7.5 miles east of LeFlore, Oklahoma,
and 15 miles southwest of Wister, Okalahoma. The property borders the
Wister Public Hunting Area.
Legal description
Lot 4001
A part of the south half of the southeast quarter of section 13, township
5 north, range 22 east of the Indian Base and Meridian, Leflore County,
Oklahoma, more particularly described as follows: Commencing at the SW
corner of said S/2 SE; thence south 89 degrees 53 minutes 35 seconds east
along the south line of said SE/4 a distance of 920.84 feet to the true point of
beginning; thence north 00 degrees 09 minutes 08 seconds west a distance
of 672.46 feet; thence north 81 degrees 08 minutes 18 seconds east a
distance of 62.53 feet; thence north 64 degrees 53 minutes 42 seconds east
a distance of 1335.55 feet; thence south 00 degrees 10 minutes 27 seconds
east a distance of 1251.12 feet to a point on the south line of said SE/4;
thence north 89 degrees 53 minutes 35 seconds west a distance of 1273.19
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property | location
feet to the point of beginning.
Lot 4002
A part of the east half of the southeast quarter of section 13, township
5 north, range 22 east of the Indian Base and Meridian, Leflore County,
Oklahoma, more particularly described as follows: Beginning at the NE
corner of the SE/4 of said section 13; thence south 89 degrees 59 minutes
35 seconds west along the north line of said SE/4 a distance of 437.79 feet;
thence south 00 degrees 10 minutes 27 seconds east a distance of 1569.25
feet; thence south 89 degrees 53 minutes 35 seconds east a distance of
332.80 feet; thence north 00 degrees 10 minutes 28 seconds west a distance
of 355.83 feet; thence south 89 degrees 53 minutes 32 seconds east a
distance of 105.00 feet to a point on the east line of said SE/4; thence north
00 degrees 10 minutes 28 seconds west a distance of 1214.29 feet to the
point of beginning AND A part of lot 2 and 3 of section 18, township 5 north,
range 23 east of the Indian Base and Meridian, Leflore County, Oklahoma,
more particularly described as follows: Beginning at the NW corner of lot
3 of said section 18; thence south 00 degrees 10 minutes 28 seconds east
along the west line of said Lot 3 a distance of 1122.00 feet; thence north
89 degrees 49 minutes 32 seconds east a distance of 220.00 feet; thence
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property | location
north 00 degrees 10 minutes 28 seconds west a distance of 1783.13 feet to
a point on the north line of the SE/4 of said Lot 2; thence north 89 degrees
41 minutes 31 seconds west a distance of 220.00 feet to the NW corner of
the SW4 of Lot 2 of said Section 18; thence south 00 degrees 10 minutes 28
seconds east a distance of 662.99 feet to the point of beginning.
Lot 1003
A part of the southeast quarter of section 13, township 5 north, range 22
east of the Indian Base and Meridian, Leflore County, Oklahoma, more
particularly described as follows: Beginning at the NW corner of the SE/4
of said section 13; thence north 89 degrees 59 minutes 35 seconds east a
distance of 2193.01 feet; thence south 00 degrees 10 minutes 27 seconds
east a distance of 1399.91 feet; thence south 64 degrees 53 minutes 42
seconds west a distance of 1335.55 feet; thence south 81 degrees 08
minutes 18 seconds west a distance of 62.53 feet; thence north 00 degrees
09 minutes 08 seconds west a distance of 277.54 feet; thence north 89
degrees 53 minutes 35 seconds west a distance of 920.84 feet to a point on
the west line of said SE/4; thence north 00 degrees 09 minutes 08 seconds
west a distance of 1696.68 feet to the point of beginning.
Lot 4004
A part of the northeast quarter of the southwest quarter of section 13,
township 5 north, range 22 east of the Indian Base and Meridian, Leflore
County, Oklahoma, more particularly described as follows: Beginning at the
NW corner of the NE SW of said section 13; thence north 89 degrees 59
minutes 35 seconds east a distance of 1315.40 feet to the NE corner of said
NE SW; thence south 00 degrees 09 minutes 08 seconds east a distance
of 1157.89 feet; thence north 89 degrees 56 minutes 55 seconds west a
distance of 1315.62 feet to a point on the west line of said NE SW; thence
north 00 degrees 08 minutes 29 seconds west a distance of 1156.55 feet to
the point of beginning.
Lot 4005
A part of the northeast quarter of the southwest quarter of section 13,
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property | location
township 5 north, range 22 east of the Indian Base and Meridian, Leflore
County, Oklahoma, more particularly described as follows: Beginning at the
SW corner of the NE SW of said section 13; thence north 00 degrees 08
minutes 29 seconds west along the west line of said NE SW a distance of
165.44 feet; thence south 89 degrees 56 minutes 55 seconds east a distance
of 1315.62 feet to a point on the east line of said NE SW; thence south 00
degrees 09 minutes 08 seconds east a distance of 165.44 feet to the SE
corner of said NE SW; thence north 89 degrees 56 minutes 55 seconds west
a distance of 1315.66 feet to the point of beginning.
Wister, Okla.
The following text is printed verbatim under section 2 of the GNU Free
Documentation License. The original URL is viewable at
http://en.wikipedia.org/wiki/Wister%2C_Oklahoma.
Wister is a town in Le Flore County, Oklahoma, United States. It is part of the
Fort Smith, Arkansas-Oklahoma Metropolitan Statistical Area. The population
was 1,002 at the 2000 census.
Geography
Wister is located at 34°58′6″N, 94°43′23″W (34.968411, -94.723191)GR1.
According to the United States Census Bureau, the town has a total area of
3.8 km² (1.5 mi²). 3.7 km² (1.4 mi²) of it is land and 0.1 km² (0.04 mi²) of
it (2.04%) is water.
Demographics
As of the censusGR2 of 2000, there were 1,002 people, 412 households, and
276 families residing in the town. The population density was 268.7/km²
(694.3/mi²). There were 450 housing units at an average density of 120.7/
km² (311.8/mi²). The racial makeup of the town was 83.93% White, 11.18%
Native American, 0.20% Asian, 0.10% from other races, and 4.59% from two
or more races. Hispanic or Latino of any race were 2.20% of the population.
purplewave.com | 21
property | location
There were 412 households out of which 28.9% had children under the age
of 18 living with them, 49.3% were married couples living together, 12.6%
had a female householder with no husband present, and 32.8% were nonfamilies. 29.9% of all households were made up of individuals and 16.0%
had someone living alone who was 65 years of age or older. The average
household size was 2.43 and the average family size was 2.99.
In the town the population was spread out with 27.0% under the age of 18,
8.5% from 18 to 24, 24.7% from 25 to 44, 21.3% from 45 to 64, and 18.6%
who were 65 years of age or older. The median age was 37 years. For every
100 females there were 98.0 males. For every 100 females age 18 and over,
there were 87.0 males.
The median income for a household in the town was $20,602, and the
median income for a family was $26,417. Males had a median income of
$21,154 versus $15,556 for females. The per capita income for the town was
$11,851. About 15.5% of families and 19.4% of the population were below
the poverty line, including 26.3% of those under age 18 and 19.1% of those
age 65 or over.
22 | purplewave.com
auction | buyer broker
For the properties located at 11674 Bob’s Lane in Manhattan, Kan., to be
auctioned on Thursday, March 29, 2007, a commission will be paid to any
properly licensed real estate broker whose buyer is the successful purchaser
for this property and who actually closes and pays the total contract sale
price for the property. The commission shall be paid as follows:
Three percent commission will be paid on any pre-sale or written opening bid
amount shown on the broker participation form, included in this document
or available upon request. A one percent commission will be paid on the
amount by which the successful high bid at auction, not including the buyer’s
premium, exceeds the bid amount indicated on the broker participation form.
If an opening bid is not written on the broker participation form, or the form
is not submitted according to the terms listed thereon, then a one percent
commission will be paid to the broker on the full amount of the successful
high bid.
To earn the buyer broker commission, the participating broker must register
his or her bidder by completing the broker participation form in full and must
fax, mail, or email it to Purple Wave Auction Inc. The form must be received
no later than 24 hours prior to the start of the auction.
The form should be sent to:
Beadles-Hamar Auction and Real Estate
121 West Broadway | Thomas, OK 73669
[email protected]
purplewave.com | 23
auction | buyer broker
Beadles-Hamar Auction & Real Estate
121 West Broadway  Thomas, OK 73669
Broker/Auctioneer
Voice 405.590.3831
TX License No. 16213
Fax 580.661.2092
NAA, CAI, CES, OSAA, OAR, KSA, KAR, TAA, NAR, MLS, BS, MS, EdD
www.beadles-hamar.com
Alvin Beadles
3% Buyer Broker Participation
Auction date
time
title
Property address
Broker details
Company name
Address
City, state, zip
Phone
Mobile
Broker name
Salesperson name
Salesperson license number
Broker license number
Taxpayer ID
Prospect information
Prospect name
Address
City, State, Zip
Prospect signature
Opening bid amount $
Commission offered to participating brokers is 3% of the opening bid amount listed above plus 1% of any additional amount bid at
the auction by the prospect above. This form must be completed and faxed to Beadles-Hamar Auction & Real Estate, 580.661.3286,
48 hours prior to auction time.
This property is selling in its present condition and accepted by buyer(s) without any expressed or implied warranties from the seller(s)
or his/her/their agents. It is incumbent upon buyer(s) to exercise his/her/their own due to diligence prior to bidding on this property.
It is the responsibility of the prospective purchaser(s) to have any and all inspections completed prior to the auction day including, but
not limited to, roof, structure, termite, environmental, groundwater, flood designation, presence of lead-based paint and/or lead-based
paint hazards, electrical, mechanical, plumbing and other desired inspections, if any. Information given is from sources deemed
reliable but not guaranteed by the seller or the Realtors/Auctioneers. Announcements made the day of auction shall take precedence.
Participating buyer broker agreement
Registration must include the signature of both the broker and the bidder. Broker must be licensed in the state of Oklahoma. Broker must
show the property in person to the bidder. Broker must attend and register with his/her bidder at the auction and encourage bidding. It is
the responsibility of the broker to ensure receipt of form by Beadles-Hamar Auction & Real Estate by calling 405.590.3831. Broker agrees
that no oral registration will qualify broker for commission. Broker agrees that broker’s commission will be due upon final closing of the
purchase by his bidder with all consideration paid in full. Broker agrees that only the first registration of prospective bidder(s) will be accepted
and honored. No amendments to registration opening bids will be accepted. Broker agrees that commission will only be paid at time of closing
and will be disbursed by the escrow agent. Broker agrees that he/she shall hold harmless and indemnify Beadles-Hamar Auction & Real Estate,
including its reasonable attorney’s fees, from any and all claims with regard to such commission.
Broker’s signature
Internet bidding at
www.purplewave.com
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auction | recommendations
Thoroughly read the property information document and familiarize yourself
with the properties offered and the auction terms and conditions. If you
will require financing, please see a lender for pre-qualification. If you have
questions about the terms, conditions or purchase agreement, contact our
office and speak with one of the auction staff.
Attend an open house/preview and inspect or drive-by each property in which
you are interested. Establish a range of value for the property and bid within
your limits. We do not recommend that you bid on a property that you have
not seen. There is not an inspection period after the auction.
Deposit is 10% down on auction day. The deposit is non-refundable.
When preparing a sealed bid, if offered, read through the property
information package. It may contain title information, income/expense
statements, surveys, and general property information. It will also completely
detail the sealed bid process.
All information about the property has been provided by the seller. All bidders
must verify all information to their own satisfaction prior to bidding.
Immediately upon completion of the auction, winning bidders will be required
to execute an Auction Contract. Please be prepared to close the transaction
within 30 days.
Buying real estate at auction is simple and easy.
Good luck in your bidding!
purplewave.com | 25
auction | terms and conditions
The following shall be part of the Auction Contract executed by buyer(s) on
the date of the auction.
Conditions of sale
Everyone must register for a bidding number. The owner warrants to convey
marketable title to the real estate through a limited warranty deed, free from
all encumbrances, liens, or judgments at the time of closing.
Buyer’s premium
A 10% buyer’s premium will be added to the bid to establish the contract
price the successful bidder must pay. For example, a bid of $100,000 will be
assessed a $10,000 buyer’s premium, creating a contract price of $110,000.
Restrictions
The property is sold subject to all city, county, and state laws, ordinances,
and regulations as well as any and all easements, encumbrances, and
restrictions applicable to the property. Seller is placing no restrictions on the
property.
Release
By its acceptance of the deed, buyer shall be deemed to release seller,
Beadles-Hamar Auction & Real Estate and Purple Wave Auction, Inc. from any
and all claims and liabilities relating to any defect, deficiency of other matter
concerning the property including, without limitation, the quality, condition,
quantity, or use of the property. Sellers, Beadles-Hamar Auction & Real
Estate and Purple Wave Auction, Inc. give no warranties of any kind either
expressed or implied, with respect to the condition, merchantability, use,
size, configuration, design, or suitability of the property.
Legal courses of action
Bids are a binding offer to enter a contract and you are responsible for
honoring them. Every legal remedy available will be used to ensure buyer’s
performance of this contract. Buyer accepts responsibility for and agrees
for buyer and all of buyer’s agents, representatives, successors and assigns
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auction | terms and conditions
to indemnify, defend and hold harmless sellers, Beadles-Hamar Auction
& Real Estate and Purple Wave Auction, Inc., their employees, governing
body, officers, owners, affiliates, subsidiaries, directors, agents, and
representatives from and against any and all claims, losses, damages,
liabilities, judgments, fees, costs, and expenses including reasonable
attorneys’ fees and expenses related to, arising from, or associated with
(I) the sale of the property, including, but not limited to, personal injuries
or property damage incurred on the sale premises or during removal and
transport of any auction item, (II) buyer’s use of Beadles-Hamar Auction &
Real Estate and Purple Wave Auction, Inc.’s website and (III) a dispute with
another bidder.
Arbitration
For disputes between buyer and seller, Beadles-Hamar Auction & Real Estate
and/or Purple Wave Auction, Inc., that are not resolved by the parties
within ten days after any party gives notice to the others of its desire to
arbitrate the dispute, the dispute shall be settled by binding arbitration by
the American Arbitration Association in accord with its then-prevailing rules.
Such arbitration shall be conducted in Manhattan, Kansas. Judgment upon
the arbitration award may be entered in any court having jurisdiction. The
arbitrator shall have no power to change the provisions of this agreement.
The arbitrator shall consist of one arbitrator, who must be a real estate
attorney actively engaged in the practice of law for at least the last five
years.
Bid rejection
Beadles-Hamar Auction & Real Estate and Purple Wave Auction, Inc. reserve
the right to reject any and all bids from any bidder.
Bid retraction
By placing a bid, buyer and all other bidders acknowledge all terms of the
auction and agree not to retract the purchase offer. If a bidder cannot satisfy
the terms of the auction, the bidder should not bid.
purplewave.com | 27
auction | terms and conditions
Assessment of condition
All bidders, including buyer, should rely solely on personal inspection and not
information listed in this property information document, on the website, or
otherwise provided by Beadles-Hamar Auction & Real Estate, Purple Wave
Auction, Inc. or seller. Any bidder’s failure to inspect, or otherwise be fully
informed as to the nature, quality, condition, quantity, and size of any items
will not constitute grounds for any claim, adjustment, refund, termination of
the Auction Contract, or refusal to close the sale.
Auction contract
Please note that the Auction Contract executed by buyer and seller
immediately following the close of the auction will be written based on the
manner in which buyer bids. Buyer will be closing on the tract or combination
of tracts on which buyer is the successful bidder in the final manner in which
buyer bids at the auction.
Real estate brokerage services disclosure
Beadles-Hamar Auction & Real Estate and its auctioneer, Purple Wave
Auction, Inc., represent the seller in this transaction. They do not represent
the buyer in any manner and they must be completely loyal and faithful to
the seller. Beadles-Hamar Auction & Real Estate has an exclusive right to
the listing for this transaction. All negotiations must be conducted through
Beadles-Hamar Auction & Real Estate. Beadles-Hamar Auction & Real Estate
is the exclusive agent for the sellers in this transaction. All successful bidders
will be required to sign an agency disclosure form at the time of signing the
purchase contract, if applicable.
Beadles-Hamar Auction & Real Estate’s involvement in contract
The seller and buyer hereby agree that Beadles-Hamar Auction & Real Estate
is an intended third party beneficiary of the Auction Contract and shall
receive compensation as stated in the agreement between it and seller.
Utilities
Neither Beadles-Hamar Auction & Real Estate and Purple Wave Auction,
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auction | terms and conditions
Inc. nor the seller guarantee the availability of utilities, public or private.
This exclusion consists of, but is not limited to, wells, septic tanks, access
to public utilities, or any hook-up fees therewith. Confirmation of utility
availability is the bidder’s sole responsibility.
Terms
A 10%, non-refundable deposit based on the contract price will be due from
buyer immediately after buyer is declared the winner. The balance shall be
payable in cash at closing in 30 days. This transaction is not contingent on
the buyer obtaining financing or upon any other event except as specifically
referred to in these terms and conditions. Personal or business checks will be
accepted with a bank letter guaranteeing payment of such funds.
Remedies
If buyer chooses not to close within the stated time herein and no written
extension has been granted by the seller, the buyer will forfeit all the deposit
and Beadles-Hamar Auction & Real Estate may disperse the deposit as stated
in the listing agreement. Notwithstanding the foregoing, seller may seek
any other relief or remedy in law or equity, including suing the buyer for
specific performance, which buyer expressly agrees is permitted, and/or any
additional damages the seller suffers by the default of the buyer.
Escrow
All monies collected on sale day will be deposited in an escrow account, the
location of which is listed below.
Beadles-Hamar Auction & Real Estate Trust Account
Bank of the West
101 South Main
Thomas, OK 73669
Possession
Buyer shall receive possession of property at the date of closing.
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auction | terms and conditions
Multiple tract sales
Individual purchases are to be considered as singular transactions not
contingent on the sale of other properties or tracts. Beadles-Hamar Auction
& Real Estate reserves the right to offer the property in individual tracts or
lots, combinations of tracts or lots, as a whole or in anyway that we see fit in
order for it to bring the most money for the seller. The sale of combinations
supersedes the sale of individual tracts. The decision of the auctioneer is
final. Seller and Beadles-Hamar Auction & Real Estate reserve the right to
amend any terms or conditions prior to or during the auction.
Title evidence
Seller shall furnish buyer title evidence covering the property, which shows
marketable title vested in seller according to the title standards adopted by
the Oklahoma Bar Association. Seller, at seller’s expense, shall provide an
abstract of title, covering the surface only, certified to a date subsequent to
the date subsequent to the date of the purchase contract (including a current
Uniform Commercial Code Certification). Buyer shall, at buyer’s expense,
obtain either a title opinion or an Owner’s Title Insurance Policy and a
Mortgagee’s Title Insurance Policy, if required by the lender.
Closing cost
Buyer’s expense
Buyer shall pay at the time of the closing, in cash, electronic transfer of
funds, or certified funds, one-half of the escrow closing fee, buyer’s recording
fees, Oklahoma sales tax (if any), and all other funds required from buyer set
forth in the contract.
Seller’s expense
Seller shall pay at the time of the closing, documentary stamps required,
one-half of the escrow closing fee, seller’s recording fees (if any), and all
other expenses required from seller set forth in the contract. Prior to the
auction, at sellers’ expense, sellers have provided an individual pin survey of
each of the tracts and a termite inspection on the residence.
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auction | terms and conditions
Closing location and agent
The closing location and agent will be Adam’s Abstract Company, 206 South
Broadway, Poteau, OK 74953.
Title insurance
All title insurance commitment fees and premiums will be paid by buyer.
Taxes
Real estate, personal property, and other taxes or governmental assessments
against the property will be prorated to the day of closing.
Miscellaneous
All prior understandings and agreements between the parties are merged
into this agreement, which constitutes the entire agreement between the
parties. Time is of the essence of this agreement. This agreement shall
be construed in accordance with and governed by the laws of the state of
Oklahoma. No delay or failure by seller to exercise any right hereunder, and
no partial or single exercise of such right, shall constitute a waiver of that or
any other right, unless otherwise expressly provided herein. This agreement
shall be binding upon and inure to the benefit of the parties hereto and their
respective heirs, legal representatives, and assigns.
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property guide | conclusion
Thank you for reviewing this property information document in its entirety.
We hope that you have found it informative and user friendly. If you have
any questions, please do not hesitate to contact us at 405.590.3831. Our
staff will be happy to assist you in any way possible.
Beadles-Hamar Auction and Real Estate
405.590.3831 | [email protected]
Purple Wave Auction Inc.
785.537.5057 | [email protected]
We have found in the past that persons reviewing a property information
document are not only interested in buying real estate, but usually have real
estate to sell. If you are interested in selling real estate at auction, please
contact Alvin Beadles at 405.590.3831 or [email protected] or Aaron McKee
at 785.537.5057 or [email protected].
We look forward to seeing you at the auction.
BH
Beadles
-Hamar
auction and real estate
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