
This auction will be conducted by Purple Wave Realty, Aaron Mckee, broker
Questions regarding real estate should be directed to Purple Wave Realty at 785.537.5057.
Each auction has unique terms.
Monday through Friday9:00am to 5:00pm CDT
Saturday10:00am to 3:00pm CDT
We are closed on Sundays.
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Auction date and time
The auction will be held at 1 p.m. CDT on June 4, 2008.
Close of bidding
Internet bidding closes before the auction at 12 p.m. CDT.
Property inspection
Open house will be held on wednesday May 28 from 2pm to 4pm
Property location
This auction will be conducted at 825 Levee Drive Manhattan, KS.
Legal description
Tract 1
A tract of land in the west half of the northeast quarter of section five, township six south, range three west of the 6th p.m., Cloud County, Kansas, described as follows: Beginning at a point 2151.4 feet west and 79.9 feet south of the northeast corner of said section 5, said point being on the south boundary line of the extension of Eleventh Street westward from the city of Concordia; thence east along the extension of the south boundary line of said Eleventh Street a distance of 260.3 feet; thence on a deflection of 121 degrees 28' right a distance of 108.7 feet; thence on a deflection of 13 degrees 42' right a distance of 140 feet; thence on a deflection of 71 degrees 02' right a distance of 74.4 feet; thence on a deflection of 49 degrees 48' left a distance of 140 feet to the west line of St. Joseph Hospital tract; thence on a deflection of 136 degrees 30' right along the east boundary of block one, Lost Creek Hills Addition of the city of Concordia, 233 feet to the point of beginning.
EXCEPTING
A tract beginning at a point on the east line of block one of Lost Creek Hills Addition to the city of Concordia, Clound County, Kansas, said point being 136.07 feet southwesterly of the northeast corner of said block one; thence southwesterly along the east line of said block one 96.93 feet; thence on a deflection to the left 136 degrees 30' 126.9 feet; thence on a deflection to the left 130 degrees 12' 87.5 feet to the point of beginning;
AND
Tract II
A tract of land located in the northeast quarter of section five, township six south of range three west of the 6th p.m., in Cloud County, Kansas, being more particularly described as follows: The point of beginning of said tract is described as follows: Beginning at the northeast corner of block one of Lost Creek Hills Addition to the city of Concordia, Cloud County, Kansas; thence southwesterly along the east line of said block one 126.07 feet; thence on a deflection to the left of 86 degrees 42' 96.37 feet to the beginning point of said tract; thence from said point of beginning continuing on said deflection fo 86 degrees 42' 74.4 feet; thence on a deflection to the right of 108 degrees 58' 10.6 feet; thence on a deflection to the right 71 degrees 02' 79.4 feet; thence on a deflection to the right of 130 degrees 12' 13.1 feet to the place of beginning;
AND
Tract III
A tract of land located in the northeast quarter of section five, township six south of range three west of the 6th p.m., in Cloud County, Kansas, being more particularly described as follows: Beginning at the northeast corner of block one of Lost Creek Hills Addition to the city of Concordia, Cloud County, Kansas; thence southwesterly along the east line of said block one 136.07 feet; thence on a deflection to the right of 93 degrees 18' 30.05 feet' thence on a deflection to the right of 86 degrees 42' 121.7 feet to a point on the north line of said block one; thence east along the north line of said block one 32.57 feet to the point of beginning.
Taxes
Taxes in 2007 were $1055.64
This property includes a large 3 story brick structure and a 5 bedroom 2 bath rental home. The main building is 17,960 square feet (2,240 in the basement, 5,240 on floors 1-3). The main structure includes a large kitchen and dining hall on the main floor, as well as a large garage attached to the building. Each floor has several restrooms as well as a shower room along with the individual rooms that each include their own sink and closet. Both structures are currently zoned as dormitory. Set on .91 acres and built in 1950, this property has endless potential.
DisclosuresSee Seller's Disclosure for more information.
If you have any questions about the property or the auction schedule please contact Jeff Ruckert at 785.236.0703 or email jeff@purplewave.com
830 W 11th
For the properties located at 830 W 11th in Concordia, KS, to be auctioned on June 4, 2008, 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 the auctioneer. The form must be received no later than 24 hours prior to the start of the auction.
Download buyer broker participation form
The form should be sent to
Purple Wave Auction, Inc.
701 Enoch Lane
Manhattan, KS 66502
auction@purplewave.com
785.539.5356 f
Conditions of sale
Everyone must register for a bidding
number.
Buyer's premium
A 10% buyer's premium will be added to
the winning bid to establish the contract price. For example, a bid of $100,000 will be assessed a $10,000 buyer's premium, creating a contract price of $110,000.
Title, Restrictions
Seller warrants to convey marketable
title to the property through a warranty deed, free from all encumbrances,
liens, or judgments at the time of closing. However, 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 of record applicable to
the property. Seller is imposing no restrictions on the property.
Release
By its acceptance of the deed, buyer shall be
deemed to release seller, Purple Wave Realty, LLC, and Purple Wave, 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, Purple Wave Realty, LLC,
and Purple Wave, Inc. give no warranties of any kind either expressed or
implied, with respect to the condition, merchantability, useability, size,
configuration, design, or suitability of the property.
Legal Remedies
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 performance of buyer's obligations. Buyer agrees, for
buyer and all of buyer's agents, representatives, successors and assigns to
release and indemnify, defend and hold harmless sellers, Purple Wave Realty,
LLC, Purple Wave, 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 Purple Wave, Inc.'s website and online bidding features and (III) a dispute
with another bidder.
Arbitration
For disputes between buyer and seller, Purple
Wave Realty, LLC and/or Purple Wave, 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 ("AAA") 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. The
party demanding arbitration shall pay all filing fees necessary to commence the
arbitration under AAA rules.
Internet bidding
Bidders may place absentee bids via the
Internet pre-auction bidding features available at www.purplewave.com. Purple
Wave Realty, LLC and Purple Wave, Inc. will implement Internet pre-auction
absentee bids on behalf of the bidders who place them, but no guarantees are
made that the bidder with the highest Internet bid before the live auction will
be the ultimate winning bidder of any tract or combination of tracts. Purple
Wave Realty, LLC and Purple Wave, Inc. strive to implement Internet pre-auction
absentee bids effectively, but no implementation guarantees or warranties are
made.
Bid rejection
Purple Wave Realty, LLC and Purple Wave,
Inc. reserve the right to reject any and all bids from any bidder.
Bid retraction
By placing a bid, bidders acknowledge all
terms of this auction and agree not to retract the bid. If a bidder cannot
satisfy the terms of the auction, the bidder should not bid.
Assessment of condition
All bidders should rely solely on
their or their agent's personal inspection of the property and not on
information listed in property information documents, on www.purplewave.com, or
otherwise provided by Purple Wave Realty, LLC, Purple Wave, Inc. or seller.
Failure to inspect, or otherwise be fully informed as to the nature, quality,
condition, quantity, and size of any property will not constitute grounds for
any claim, adjustment, refund, termination of the Auction Contract or refusal to
close the sale. Any information provided about the property has been provided by
seller or is a matter of public record.
Auction Contract
Immediately after Auctioneer declares
winning bidder(s), the winning bidder(s) will be required to execute an auction
contract ("Auction Contract") in a form that is available for prior inspection
either on this website or from Purple Wave Realty, LLC.
Real estate brokerage services disclosure
Purple Wave
Realty, LLC, and its auctioneer, Purple Wave, 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. Purple Wave Realty, LLC, has an
exclusive right to the listing for this transaction. All negotiations must be
conducted through Purple Wave Realty, LLC. All successful bidders will be
required to sign an agency disclosure form at the time of signing the Auction
Contract, as applicable.
Property Dimensions and Units
The property will be sold
by the tract, not the acre. Acreages used in promotional and sales materials are
a guide and subject to change pending surveys obtained by buyers after the
auction. Descriptions are believed to be correct, however neither Purple Wave
Realty, LLC, Purple Wave, Inc., nor seller(s) warrant or guarentee precise
accuracy and will not be held responsible for discrepancies or inaccuracies.
Utilities
Neither Purple Wave Realty, Purple Wave
Auction, Inc. nor the seller guarantees 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.
Payment Terms & No Contingencies
A non-refundable
deposit equal to $2500 will be collected from the winning bidder except on lots 1003,
1005 and 1006 where a non-refundable deposit of 10% of the winning bid price will be collected.
The balance shall be payable in cash on the closing date. 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 or the Auction Contract. Personal or business checks for the
deposit amount will be accepted.
Remedies
If buyer does not close within the time stated
herein and in the Auction Contract, and no written extension has been granted by
the seller, the buyer will forfeit all of the deposit and Purple Wave Realty,
LLC, may disperse the deposit as stated in the agreement between Purple Wave
Realty, LLC, and seller. 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 with Capital Title Insurance Co. in Manhattan, KS.
Possession
Buyer shall receive possession of the property
on the closing date established in the Auction Contract, which is typically 30
days after the auction.
Closing Costs, Title Insurance and Other Transaction
Fees
Buyer will pay the fees for escrow agent/closing
agent's services and the cost of an owner's policy of title insurance.
Seller shall pay no other costs or fees. Buyer shall pay all other closing costs
and transaction fees associated with purchasing the property. Such costs and
fees include but are not limited to the cost of an owners' policy of title
insurance, fees charged by a lender or lenders, property insurance, mortgage
insurance, credit report(s), property legal survey, all recording fees,
fees for escrow agent/closing agent's services, termite or other pest
inspection fees, whole house or lead based paint inspection fees, and fees and
expenses charged by buyer's attorney.
Closing location and agent
The closing location and agent
will be determined on or before the auction date and reflected in the Auction
Contract.
Taxes
Real estate, personal property, and other taxes or
governmental assessments against the property will be prorated to the day of
closing.
Miscellaneous
These terms, except as modified by the
Auctioneer during or prior to the auction, constitute the complete terms of this
auction. They shall be construed in accordance with and governed by the laws of
the state of Kansas. 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 in these
terms. These terms shall be binding upon and inure to the benefit of all
bidders, seller, Purple Wave Realty, LLC, Purple Wave, Inc., and their
respective heirs, legal representatives, and assigns.