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GONE! DEVELOPMENT LAND AUCTION EVENT – Lake Lotawana (1 of 3)

76 Acres m/l zoned Highway Commercial


Excellent location at the SE corner of  MO-Hwy 7 and MO-Hwy 150. Electric & water. Income from current agricultural lease. Strong development or investment potential with state highway frontage in City of Lake Lotawana. 76 ac m/l.

LIVE ON-SITE AUCTION WITH ONLINE BIDDING
Began: 05/29/14 at 10:00 AM CDT
Location: SEC Hwy 150 & Hwy 7, Lake Lotawana, MO 64086
INSPECTION
Began: 05/15/14 at 11:00 AM CDT
Ended: 05/15/14 at 1:00 PM CDT
Location: SEC Hwy 150 & Hwy 7, Lake Lotawana, MO 64086


Excellent location at the southeast corner of MO Hwy 7 and MO Hwy 150. Water & electric to site. Income from current agricultural lease. Strong development or investment potential with highway frontage in City of Lake Lotawana. 76 ac m/l.

 

76 Acres m/l in Excellent Jackson County Highway Location

     In the City of Lake Lotawana, MO
     Zoned HC “Highway Commercial”
     ½ mile frontage on MO Highway 150
     ¼ mile frontage on MO Highway 7
     1.9 miles from US Highway 50
     Electric & water (Water District #15)
     Currently being farmed (lease available on request)
     Excellent for development or investment

 

Parcels Included:

     72-500-02-04-00-0-00-000 (Easternmost tract / 8.29 acres +/-)

     72-500-02-03-02-0-00-000 (Center tract; 9.71 acres +/-)

     72-500-02-03-01-0-00-000 (Westernmost tract; 58.39 acres +/-)

 

Close to:

     Pleasant Hill (6 min)
     Lone Jack (6 min)
     Lee’s Summit (8 min)
     Blue Springs (13 min)
     South KCMO (17 min)

 

Auctioneer’s Note

This is the first of three excellent land auctions taking place on May 29th. Bidding for this property will take place live onsite with the option to bid live online. Registration will open at 9:00 A.M.  This 76-acre tract is currently income producing and the frontage on two Missouri highways provides outstanding future development potential. The owner lives out of state and wants the property sold. Now is the time to buy land and there’s no better place than auction so come and bid YOUR price!

 

2013 Taxes: $570.96

AUCTION TERMS AND CONDITIONS:

AUCTION METHOD:
If a property contains multiple tracts they will be offered individually, in combinations and as a whole. The property will be sold in the manner resulting in the highest total sales price.

REGISTRATION:
Onsite bidder registration will begin one hour before the auction. Online bidder registration is open now. All bidders must provide a valid driver’s license and current address. Online bidders must also provide a credit card to register. By registering, all bidders acknowledge having read and agree to be bound by the Auction Terms and Conditions.

DOWN PAYMENT:
The successful bidder(s) shall be required to make a 10% non-refundable down payment of the total purchase price immediately following the close of bidding. Cash, cashier’s check or personal/business check will be accepted from onsite bidders. Bank wire will also be accepted from online bidders.

FINANCING:
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.

CONTRACT SIGNING:
The successful bidder(s) shall execute a purchase agreement immediately following the close of bidding. All final bid prices are subject to Seller approval, unless announced otherwise.

CLOSING:
Buyer(s) shall close within 30 days of the auction date. Possession will be delivered at closing subject to any remaining rights of the current tenant(s), if applicable.

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).

SURVEY
Seller shall provide a survey for any tract where there is no existing legal description. Any need for a new survey shall be determined solely by the Seller. The type of survey performed shall be at the seller’s option and sufficient for providing a legal description for title insurance. Purchase prices shall be adjusted to reflect any differences between advertised and surveyed acres.

REAL ESTATE TAXES & ASSESSMENTS:
2014 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.

AGENCY:
Cates Auction & Realty Co., Inc. and its representatives are Exclusive Agents of the Seller.

BUYER’S PREMIUM:
A buyer’s premium of ten percent (10%) shall be added to the high bid and included in the total purchase price to be paid by the successful bidder(s).

BROKER PARTICIPATION:
A commission 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.

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 announcements made by the Auctioneer during the auction take precedence over any previously printed material or any other oral statements made. All information contained in the advertising and all related materials are subject to the terms and conditions outlined in the purchase agreement. Advertising may contain pictures of wildlife and other items that are for illustrative purposes only. The Auctioneer reserves the right to bid on behalf of the Seller up to, but not beyond the Seller’s reserve (if applicable). The Property is available for and subject to sale prior to auction.

From I-70 or US-50, south on MO Hwy 7 to intersection with MO Hwy 150 (E. Outerbelt Rd.) OR from MO Hwy 58, north on MO Hwy 7 to property.

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76 Acre Development Land Auction

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76 Acre Land Auction: 1/4 Mile Frontage on Hwy 7 76 Acre Land Auction -- Income producing 76 Acre Land Auction -- Income producing 76 Acre Land Auction: SEC of Hwy 150 & Hwy 7
76 Acre Land Auction -- Income producing 76 Acre Land Auction -- Income producing View from corner of property looking at intersection of Hwy 7 & Hwy 150 View from corner of property looking at intersection of Hwy 7 & Hwy 150 76 Acre Land Auction -- Excellent Highway Frontage
76 Acre Land Auction -- Income producing 76 Acre Land Auction: SEC of Hwy 150 & Hwy 7 76 Acre Land Auction: Excellent Highway Location! 76 Acre Land Auction -- Excellent Highway Frontage 76 Acre Land Auction -- income producing
Eastern edge of property looking north toward Hwy 50 Eastern edge of property looking south down Hwy 7

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