Real Estate Auction – No Minimum / No Reserve
40 ± Acres Farm / Recreational / Building Site
Opens Tuesday, November 16th, 2021
Closes Tuesday, November 30th, 2021, 6:00pm CST

40 ± Acres located on the NorthWest Corner of 445th Ave and 240th Street, Lura Township, Faribault County.
Property Address: Unassigned Address, Delavan, Mn
That part of Parcel ID 120050100, Section-05 Township-104 Range-026 Lying Westerly of 445th Avenue.

Driving Directions:
From Mankato take highway 22 South to Mapleton. Continue South on County Road 7 (Central Ave - changes to 580th Ave ) go 4 miles to the T at Co Rd 20 (100th street) Go West (right )on Co Rd 20 to 1st left on 445th Ave. Property located on the corner of 240th Street and 445th Ave. Watch for signs.

Auction Info :
40 ± Acres Zoned Agricultural. FSA Information: 26.61 Tillable, 15.05 in R.I.M Program (2.27 Ac field , 7.03 Ac field and 3.47 Ac Field).
Auction Date: Bidding Opens Tuesday, November 16th, 2021
Closes Tuesday, November 30th, 2021, 6:00pm CST
Type: Online Only
Selling Absolute - No Minimum / No Reserve

• Buyers is aware of the current drain tile outlet located on the NorthEast Corner of the subject property. Buyers agrees to grant permission to landowner across the road (remaining 80 acres) to have access for repairs and/or maintenance to the tile. This access easement will be included on the deed at closing.
• It is the intent of the seller to perform a 1031 exchange. Buyer agrees to sign all necessary documents to complete the 1031 at no additional cost to the buyer.

Owner: Gerald Sonnek Trust

TERMS & CONDITIONS OF REAL ESTATE AUCTION:
Successful bidder will be required to pay $10,000 non-refundable down payment to David L. Veo Realty Trust, prior to 3:00pm CST December 1st, 2021. The successful bidder shall enter into a non-contingent “As Is” purchase agreement prepared by David L. Veo Realty, Broker and pay non-revocable down payment to be held in escrow. The balance will be due in full at closing, in approximately 45 days. Closing will be conducted by Seller's closing agent of choice. The seller will provide marketable title to said property. The Real Estate will be considered sold when all parties have signed the purchase agreement. Property is not subject to prior sale and is sold “As-Is". This property will be sold by its legal description. All announcements made by the auctioneer take precedence over any previous advertising or oral statements. Jokela Auction Co. and David L Veo Realty represent the seller in this transaction. Square footage dimensions and acreage amounts are based upon information provided by the seller and are believed to be correct, however, purchaser shall bear the responsibility to confirm all calculations prior to the auction. All information contained in this brochure was derived from sources believed to be correct but is not guaranteed. Jokela Auction Co. & David L. Veo Realty are not responsible for errors or omissions.
• Buyers is aware of the current drain tile outlet located on the NorthEast Corner of the subject property. Buyers agrees to grant permission to landowner across the road (remaining 80 acres) to have access for repairs and/or maintenance to the tile. This access easement will be included on the deed at closing.
• It is the intent of the seller to perform a 1031 exchange. Buyer agrees to sign all necessary documents to complete the 1031 at no additional cost to the buyer.
Buyer’s Premium: A 2% Buyer’s Premium, calculated on the high bid, will be added over and above the high bid. This sum will equal the total contract price.