GONE! Online Land Auction: 130+/- Acres Adjacent to Osage National | Lake of the Ozarks, MO (Property D1 & D2)
Ended: 05/16/18 at 3:30 PM CDT
The seller of this property has accepted a pre-auction offer and the property has sold. (See auction terms regarding pre-auction offers.)
130.8+/- acres adjacent to the north of the Osage Hills Golf Course with mostly wooded and rolling terrain. Per appraisal, all utilities are adequate and directly available to the site. A convention center concept was envisioned for the site at one time though no formal plans were developed. It would also be ideal for recreational uses and/or private estate development. It is currently zoned R-1, Single Family Residential.
The property has not been previously listed so there is no last list price, however it was appraised in 2010 for $1,240,000 ($9,480/acre). The combined auction reserves are only $270,740.
Property D1 is approximately 18.3 acres on south side of Osage Hills Road. It includes 1,800 feet of Highway 54 frontage, but not direct access. A cell tower on the property generates annual income of approximately $10,000 per the Ground Lease Agreement* that transfers with the property. A water well usage agreement with the golf course also goes with the property.
- PID#: 12-4.0-20-001-002-001.000.
- Auction reserve = $45,740 ($2,500/acre)
Property D2 is approximately 112.5 acres on the north side of Ozark Hills Road.
- PID#s: 12-4.0-20-001-001-001.001 and 12-4.0-20-001-001-001.000.
- Auction reserve = $225,000 ($2,000/acre)
- 130.8+/- total acres in two tracts
- D1 = 18.3+/- acres
- D2 = 112.5+/- acres
- Zoned R-1 – Single Family Residential
- On the north end of Osage National
- Seller’s combined reserve: $270,740 (Appraised at $1,240,000) Available upon request.
- D1 includes cell tower with approx $10,000 annual income*
- Taxes: $2,135
- All bidding is taking place online
- Online bidding is open and will end May 16, 2018
Auctioneer’s Note: These tracts are part of a larger sale of high quality development land and lots at auction, in and around the popular Osage National Golf Resort development. Our seller, an established Cates Auction client, is committed to selling everything and has set reserves well below market value on all these excellent properties. Look through all the materials and visit the sites, then log on and bid your prices!
Auction Information Center: In addition to complete details on this website, full auction information is available in the Auction Information Center located in the lobby of the Osage National Golf Clubhouse. Additionally, auction staff will be onsite at the Auction Information Center on April 18 & May 2 from 11:00 to 1:00.
Two Ways to Buy!
- Bid in the auction. All bidding will take place online and will end on May 16th.
- Make a pre-auction offer. Subject to all auction terms and conditions. Call Ray at 816-695-2163 for details.
The Osage National Community… Osage National is a 350-lot residential golf course development in Lake Ozark, Miller County, Missouri. Based around Missouri’s only Arnold Palmer Signature golf course (27 holes), amenities include a full-service club house with restaurant and bar, swimming pool, and more. It is ideally situated on the northeast side of the Lake of the Ozarks area near many of the region’s new and planned commercial construction projects.
Lake of the Ozarks… A Vibrant Region with a National Draw. Located equidistant from Kansas City and St. Louis, Missouri, the Lake of the Ozarks was created in 1931 by the damming of the Osage River (see Property C) and resulted in one of the largest and most beautiful man-made lakes in the world. Surrounded by the Ozark Mountains, the Lake is notable for 1,150 miles of shoreline. Sustained population growth over the years supports the significant development of the region as a major second home market and strong tourist/vacation destination. The east side of the lake in particular has seen tremendous real estate development of all types. Interstate access exists in all directions, primarily via Highway 54 which links the various Lake communities and has seen the most extensive development in the region. Osage National and these two tracts are located on Highway 54 in the northeast area of the Lake.
*Per the Ground Lease Agreement, the sale of Property D1 (or the combination of D1 & D2, if sold together) is subject to a 30-day first right of refusal.
“ONLINE ONLY” REAL ESTATE BIDDING
AUCTION TERMS AND CONDITIONS
Proper and complete online registration is required to bid. All bidders must provide name, address, phone number, and email address to register. A credit card (MC, Visa or Discover) is required to actually place a bid on the property. The credit card will be validated before bidding access is granted, but is not a recognized form of payment of the deposit or purchase price. Should a Winning Bidder fail to complete the contract signing process, the required deposit will be charged to the credit card provided at registration. By registering, all bidders acknowledge having read and agree to be bound by the Auction Terms and Conditions. Bidders may register prior to, or during the bidding period. At registration bidders are given the option of receiving emails confirming their individual bids and/or when they are outbid.
All bidding in this auction is being conducted online. (If you need assistance placing a bid or prefer to submit a bid in person, please call our office for assistance. 816-781-1134) To place a bid, bidders enter their “maximum” bid and click the “Place Bid” button. Each time that bidder is outbid by another bidder, the system will automatically bid on their behalf at the established bid increments up to their maximum. In the case of an auction with a reserve, if the max bid amount entered is less than the reserve, the system will place the bid at the max amount. Once the system displays that the reserve has been met, then it will advance the bid (by the bid increments) only when the bidder is outbid by another bidder, up to the bidders max. The Auctioneer does not know any bidder’s maximum bid. The system will not advance a bidder’s own bid. Online-only auctions utilize the “Soft Close” feature that automatically extends the bidding time if a bid is received in the last 2 minutes of the published bidding period. The extensions will continue until 2 minutes have lapsed without any bidding activity, at which time the auction is concluded.
A buyer’s premium of ten percent (10%) of the high bid shall be added to that bid and included in the total purchase price to be paid by the successful bidder(s).
Sample calculation — High bid = $50,000
Buyer’s Premium = $ 5,000 (10% of 50,000)
Total purchase price = $55,000
Financing is not a contingency of sale in this offering. Therefore, it is strongly recommended that potential bidders ensure in advance that they are able to obtain the necessary financing to close the transaction.
At the conclusion of the auction the Winning Bidder will receive an email and/or phone call confirming his or her winning bid status. In this or a subsequent email the Winning Bidder will receive a link to sign all documents electronically along with wiring instructions for submitting the required earnest money deposit to the named title company.
Should the electronic processes described above be unavailable, alternative arrangements will be made. In any event, the contract signing and deposit payment process must be completed by noon on the day following the auction conclusion. A Winning Bidder whose documents and deposit are not received within the required timeframe is subject to paying a liquidated damages amount equal to the down payment (charged to the credit card used at registration) and will not be allowed to bid in any future Cates Auction & Realty auction events. Note that property-specific purchase documents are available prior to the auction end date and any professional reviews of such documents should be undertaken PRIOR to bidding. All final bids are subject to Seller’s reserve, unless advertised otherwise. Any property with a high bid exceeding the Seller’s reserve will be declared “sold” by the Auctioneer. In instances where the seller’s reserve was not met in the auction, the signed contract and accompanying deposit will be presented to the Seller for approval, which shall be given or denied in the Seller’s sole discretion within 5 business days. If approval is denied, all documents and the deposit will be returned immediately.
RIGHT OF FIRST REFUSAL:
Per the paragraph 21 of the Ground Lease Agreement for the cell tower on Property D1, the current Lessee shall have the right of first refusal to purchase the real property being sold by the Lessor on the same terms and conditions. The Lessee has 30 days to give notice of its intention.
DOWN PAYMENT (DEPOSIT):
The Winning Bidder shall be required to make an earnest money down payment equal to five percent (5%) of the total purchase price. This deposit must be received by wire transfer (or by certified funds), by close of business the day following the bidder being declared the Winning Bidder. Winning Bidders whose documents and deposit are not received within the required timeframe are subject to paying a liquidated damages amount equal to the down payment (charged to the credit card used at registration) and will not be allowed to bid in any future Cates Auction & Realty auction events.
The Winning Bidder shall close within 45 days of the auction date, unless stated differently in the Purchase Agreement.
EVIDENCE OF TITLE:
Seller shall furnish at seller’s expense an Owner’s Policy of Title Insurance in the amount of the total purchase price and shall execute a general warranty deed conveying the real estate to the buyer(s).
REAL ESTATE TAXES & ASSESSMENTS:
2018 taxes are to be prorated as of the closing date.
EASEMENTS AND LEASES:
Sale of said property is subject to any and all easements of record and any and all leases.
Cates Auction & Realty Co., Inc. and its representatives are Exclusive Agents of the Seller.
A commission of 3% of the high bid (unless a different percentage is stated in the property’s MLS listing) will be paid to any properly licensed Broker who registers a successful buyer according to the appropriate Broker Participation Agreement. This form is available from the Auction Company and must be completed and returned no later than 48 hours prior to the auction end date.
DISCLAIMERS AND ABSENCE OF WARRANTIES:
The information in the auction advertising was obtained from sources believed to be accurate, but is subject to verification by all parties relying on it. All sketches and dimensions are approximate. No liability for its accuracy, errors or omissions is assumed by the Seller or the auction company. All bidders are responsible for conducting their own inspections, investigations, inquiries and due diligence concerning the property. The property is being offered on an “AS IS”, “WHERE IS” basis and no warranty or representations, expressed or implied, is made by the Seller or the auction company. All information contained in the advertising and all related materials are subject to the terms and conditions outlined in the purchase agreement. The Auctioneer reserves the right to bid on behalf of the Seller up to, but not beyond the Seller’s reserve (if applicable). This property is available for and subject to sale prior to auction.
As exclusive agents for the Seller, the Auctioneer has a fiduciary obligation to present any and all offers to the Seller. Therefore, all properties are subject to pre-auction sales. Pre-auction offers must meet all auction terms and be submitted to the Auctioneer on the Real Estate Sale Contract along with the required deposit. Properly submitted offers will be presented to the Seller, who may accept or reject such offer in their sole and absolute discretion.
We hope you enjoy bidding in the online auction!
Video: Osage National Lots & Land Auction
Directions to AUCTION INFO CENTER: From US HWY 54 Northbound, go east on Isleworth Ave. (approx. 9/10 mile north of Osage River Bridge), to Osage Hills Rd., east to Osage River Bridge Rd., north to Clubhouse. From Southbound US HWY 54, turn east at Osage Hills Rd., follow Osage Hills Rd approx. 1.5 mi. to Osage River Bridge Rd., north on Osage River Bridge Rd to clubhouse.