Online-Only Auction - Kit Carson County, Colorado! Mark your calendar for Tuesday, November 26th

Peoples Company and The Land Office are proud to present two high-quality farmland tracts located in Kit Carson County, Colorado offered via online-only auction where all bidding must be done online through Peoples Company's BidWrangler bidding application. Bidding is currently LIVE and will remain open until Tuesday, November 26th, 2024 at 5:00 PM Mountain Time Zone (MT). A bid placed within 3 minutes of the scheduled close of the auction will extend bidding by an additional 3 minutes until all the bidding is completed.

The farm consists of 363.2 surveyed acres m/l and estimated tillable acres of 357.17 m/l and will be offered in two tracts. Tract 1 offers new capital improvements and strong irrigation water. Tract 2 offers a nearly 100% tillable, dryland farm with productive soils. These tracts would make great additions to an existing farming operation or long-term investments.

Tract 1: 207.83 surveyed acres m/l with an estimated 202.36 acres m/l tillable and approximately 130 acres m/l irrigated.

Tract 2: 155.37 surveyed acres m/l with an estimated 154.81 acres m/l tillable.

Both tracts are located nearby Segment 2 of the Colorado Power Pathway, a 550 mile, 345 kV transmission line circuit currently under construction that will improve the states electric grid and enable future potential renewable energy development opportunities in the area.

The farms are located off County Road 58 & County Road J in Section 21 & 28 of Burlington Township, just 13 miles southeast of Burlington, Colorado.

This farm is being offered in partnership with The Land Office LLC. Please contact Dale Stull for more information on this listing. Dale Stull: 719.349.5710.

*Tillable Acres are subject to change when reconstituted by the Kit Carson Farm Services Agency.

*A principal of the selling entity is a licensed real estate agent in the state of Colorado.

Additional Info

These tracts are also located within Qualified Opportunity Zone Number: 08063962100. Investments in properties in Opportunity Zones are intended to encourage economic development by providing preferential tax treatment. In additional to deferral of capital gains, expenditures on improvements including irrigation, drainage, storage, some forms of depreciation, and other activities that result in additional property value through time may qualify for a basis step-up at sale and excluded from future capital gains taxation if held to the maturity of the OZ period.

*This information is for information purposes only, and is not intended to provide and may not be relied upon for tax, legal, or accounting advice.

Online Only Auction - Kit Carson County, Colorado

Bidding Ends: Tuesday, November 26th, 2024 at 5:00 PM Mountain Time (MT)

The bidding is currently live!

Online Bidding: Register to bid on our website. Potential bidders may have access to the live auction by utilizing Peoples Company's online auction platform via the Internet. By using Peoples Company's online auction platform, bidders acknowledge that the Internet is known to be unpredictable in performance and may, from time to time, impede access, become inoperative, or provide slow connection to the online auction platform. Bidders agree that Peoples Company nor its affiliates, members, officers, shareholders, agents, or contractors are, in any way, responsible for any interference or connectivity issues the bidder may experience when utilizing the online auction platform.

The Kit Carson County, Colorado tracts are being offered through an online-only auction where all bidding must be done online through Peoples Company's bidding application. Bidding is currently LIVE and will remain open until Tuesday, November 26th, 2024 at 5:00 PM Mountain Time Zone (MT) with closing taking place on or before Friday, December 27th, 2024. A bid placed within 3 minutes of the scheduled close of the auction will extend bidding by 3 minutes until all the bidding is completed. If you plan to bid, please register 24 hours prior to close of auction. Under no circumstances shall Bidder have any kind of claim against Peoples Company or its affiliates if the internet service fails to work correctly before or during the auction.

Tract 1: 207.83 Surveyed Acres

Tract 2: 155.37 Surveyed Acres

Co-Broker: Co-Broker must register the client 24 hours prior to the Auction date by filling out our Broker Registration Form.

Farm Program Information: Farm Program Information is provided by the Kit Carson County Farm Service Agencies. The figures stated in the marketing material are the best estimates of the Seller and Peoples Company and/or The Land Office; however, Farm Program Information, base acres, total crop acres, conservation plan, etc., are subject to change when the farm is reconstituted by the Kit Carson County FSA and NRCS offices.

Earnest Money Payment: A 10% earnest money payment is required upon conclusion of the auction. The earnest money payment may be paid in the form of a certified check or wire transfer. All funds will be held by the title company.

Closing: Closing will occur on or before Friday, December 27th, 2024. The balance of the purchase price will be payable at closing in the form of cash, guaranteed checks, or wire transfers.

Possession: Possession of the farm will be given at closing, subject to Tenant's Rights.

Current Crop: Tract 1 is currently planted to corn, possession of Tract 1 will be at Closing, subject to the harvest and removal of the corn crop. Tract 2 is currently planted to winter wheat. The Buyer of Tract 2 will assume possession of the property after the wheat is harvested and will receive the Landlord's share of the crop income. No crop expenses will be owed by the new Buyer. Contact agent for details.

Contract & Title: Immediately upon the conclusion of the auction, the winning bidder will enter into a real estate sales contract and deposit with the title company the required earnest money payment. The Seller will furnish a recent pro forma commitment to issue an Owner's Policy in the amount of the purchase price at their expense.

Financing: Buyer's obligation to purchase the Real Estate is unconditional and is not contingent upon the Buyer obtaining financing. All financial arrangements are to have been made before bidding at the auction. By the mere act of bidding, the bidder makes the representation and warrants that the bidder has the present ability to pay the bid price and fulfill the Contract.

Property Taxes: Payment of the 2024 property taxes for the Real Estate will be paid for by the Seller. Payment of the 2025 property taxes and beyond will be the responsibility of the new Buyer.

Mineral Rights: A mineral title opinion will not be obtained or provided, and there will be no guarantee as to the ownership of the mineral interests on all tracts. Seller will convey 100% of whatever mineral rights are owned by the Seller without warranty.

Fences: Existing fences, if any, are in as-is condition and will not be updated or replaced by the Sellers. Not all tract and boundary lines are fenced and if needed, will be the responsibility of the Buyer at closing. Existing fence lines may not fall directly on the legal boundary.

Other: Buyer willfully acknowledges that they have performed their due diligence before bidding on this tract and this sale is subject to all easements, covenants, leases, and restrictions of record. All property is sold on an As is Where is basis with no warranties, expressed or implied, made by the Auctioneer, Peoples Company, or Seller. All bids will be on a PRICE PER ACRE BASIS and not the total dollar. Peoples Company and its representatives are agents of the Seller. The winning bidder acknowledges that they are representing themselves in completing the auction sales transaction.

Disclaimer: All field boundaries are presumed to be accurate according to the best available information and knowledge of the Seller and Auction Company. Overall tract acres, tillable acres, etc., may vary from the figures stated within the marketing material. Buyer should perform his/her investigation of the property before bidding at the auction. The brief legal descriptions in the marketing material should not be used in legal documents. Full legal descriptions will be taken from the title commitment.