Spectacular Ranch Auction!

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M20395 ONLINE NOW!  Check out this knock-out 5 bedroom, 4 bath home on a sprawling 75 acres including a working cattle/horse ranch, a small lake, a spring-fed pond and rolling pastures plus 75% of the mineral rights!

Location

map 340 Harvey Jobe Road, Romance AR 72136

Starts Closing At

Friday, October 10, 2014 at 12:00 PM CDT

To Be Determined

Additional Notes, Please Read Carefully

Date & Time:  Auctioneers will be on-site beginning Friday, October 10, at 11:00AM CDT for those wishing to bid live starting at NOON in conjunction with active online bidders.  Auction will start closing at 12:00PM CDT.

Property Inspection:  Please contact Cargile Auctions at 501-268-7653 for a personal tour.

Directions:  From Hwy 67/167 take Exit 31. Go North on Hwy 31 for approx 14 miles to Hwy 5. Turn right on Hwy 5. Go 300ft and turn left onto Harvey Jobe Road. Property is at the end of the road.

Property Description:  This is a Real Estate ONLY Auction.  The property will be offered in 3 separate ways:

1.  The house (approx. 4,200 sq ft) and 75 (seventy-five) acres (surface acres only)

2.  75% (seventy-five percent) of mineral rights ONLY

3.  The entire property which includes the house (approx.. 4,200 sq ft), 75 (seventy-five) acres and 75% (seventy-five percent) of the mineral rights

The property consists of rolling pastures, a small lake, a spring-fed pond, a working cattle and horse ranch that’s fenced/cross fenced with corral and a knock-out 5 bedroom, 4 bath home consisting of approx. 4,200 sq ft heated/cooled.  It has a barn/shop with livestock fencing as well.  This is a complete working cattle or horse ranch less than an hour drive from the Little Rock metro area, Greers Ferry Lake and Little Red River area.  The home amenities include the following:

  • Stained concrete floors
  • Granite countertops thru out
  • Jetted tub in master bath
  • Walk in tiled shower in master bath
  • Safe room
  • Walk in closets thru out
  • Stainless steel appliance
  • Double ovens/warming drawer
  • Separate Ice maker
  • Walk in pantry
  • Stained maple cabinets
  • Wood burning fireplace
  • Covered patio
  • Walk out attic access
  • Blown insulation
  • Insulated siding
  • Oversized water heater
  • Dual air conditioning
  • Composite shingle roof

Real Estate Live & Online Auction

Terms & Conditions

Bidding Procedures:  Announcements made on the day of the auction will take precedence over all printed material or oral statements made. Method, order of sale, and bidding increments shall be at the sole discretion of the auctioneer.

Bidding: All bidding is open to the public without regard to race, color, sex, religion, or national origin. As used in these conditions of sale the term “the final bid” means the highest bid acknowledged by the auctioneer, and the term “purchase price” means the sum of the final bid and the buyer’s premium. The highest bidder acknowledged by the auctioneer shall be the “buyer”. Please contact our offices for information on absentee and or phone bidding.  The final bid is subject to Seller confirmation. 

Buyer’s Premium: A 10% buyer’s premium will be added to the final bid on the property.

Example:       High Bid on the Property is:     $100,000

                    Add 10% Buyer’s Premium:    +   10,000

                    Total on Sales Contract

                       (Purchase Price)               = $110,000

 

Deposit: The buyer shall be required to pay a deposit of $20,000.00 (Twenty Thousand Dollars) immediately after confirmation of final bid. This deposit will be held in a non-interest bearing escrow account until settlement. Buyer must remit cash, complete wire transfer or cashiers check made payable to Cargile Auctions LLC if you are the winning bidder.

Closing: The successful buyer must sign all documents and contracts immediately after the acceptance of the final bid. The closing will occur within 45 days from date of auction. Buyer acknowledges and agrees that time is of the essence. 

Closing Costs:  Seller shall furnish at Seller’s expense, ½ of the Revenue or Deed Stamps, ½ of the Real Estate Closing fee to the Closing Company, an owner’s policy of title insurance and a deed.  All other costs associated with the transaction shall be the responsibility of the buyer. 

Financing:  Sale of the property is not contingent upon the buyer obtaining financing.

Conditions of Default: If any conditions contained herein are not complied with by the buyer, Auction Company may, in addition to asserting all remedies available by law, including the right to hold defaulting buyer liable for the purchase price, either, a) cancel the sale, retaining as liquidated damages any payments made by such buyer, b) resell the property at public auction or privately on seven (7) days’ notice to such buyer, or c) take such other action as it deems necessary or appropriated. If Auction Company resells the property, the original defaulting buyer shall be liable for the payment of any deficiency between the purchase price and all costs and expenses, the expenses of both sales, reasonable attorney’s fees, commissions, incidental damages and all other charges due hereunder. In any event, the buyer’s deposit will be retained by Auction Company as liquidated damages.

State Laws: The respective rights and obligations of the parties with respect to the Conditions of Sale and the conduct of the auction shall by governed and interpreted by the laws of the state in which the auction is held. By bidding at an auction, whether present in person or by agent, by written bid, telephone or other means, the buyer shall be deemed to have consented to the jurisdiction of the courts of such state and the federal courts sitting in such state.

Real Estate Brokers/Agents: When offered, a specified commission will be paid to any qualified broker who is duly licensed and whose properly registered client successfully buys and closes on the property. To qualify for a commission the licensed broker/agent must first register the prospective bidder on the Auction Company website or on Auction Company’s Broker Participation Acknowledgement Form. Registration letters must be countersigned by the prospect and include the broker’s and agent’s license number, identification of the property, any agency disclosure statements, the letter and participation acknowledgement form. All forms, letters and statements must be received no later than 5:00 P.M. (CST) two (2) days prior to the auction. Commission is contingent upon, and will only be paid if the broker participation form is received by Auction Company no later than 5:00 P.M. two days prior to the auction. In addition, agents must also attend the auction with their prospects, when applicable.  Auction Company will accept only one client per auction from any one Real Estate Broker/Agent unless prior approval is given by Cargile Auctions. 

Inspection: All property is sold “As Is, With All Faults.” Descriptions are provided as a service to customers only and do not constitute a warranty, either expressed or implied. Auction Company disclaims all responsibility for physical condition. All buyers are responsible for prior inspection of properties on which they bid, and by bidding are deemed to have so inspected the property. Placing a bid on the offered property, whether in person, or by agent, by written bid, telephone bid or other means, constitutes an agreement by bidder to these conditions of sale. Square footage dimensions and acreage are approximate and should be independently verified prior to bidding.  Auction Company, its agents, and the sellers assume no liability for errors or omissions in this or any other property listing or advertising or promotional/publicity statements and materials. All information and dimensions were derived from sources believed to be correct, but are not guaranteed. Buyers shall rely on their own information, judgment, and inspection of the property. All auction day announcements take precedence over any previously printed material or any other oral statements made.

Additional Online Auction Terms

1. Registration:  To gain access to the Auctioneer’s bidding system, you will need to register and obtain a bidder number.  You must be eighteen years old or older to register.  You agree that all information that you provide during the registration process will be true and accurate.  You will be banned from participation in the Auctioneer’s auctions indefinitely should you provide any false information during the registration process.

2. Online Bidding Deposit:  In order for the Auctioneer to process your registration, we must have a working Visa or MasterCard associated with your account.  After you have registered for this online auction, the Auctioneer will authorize the credit card you have placed on file for $100.  This $100 deposit is not a charge, only an authorization hold; the Auctioneer will not take any money from your account, and the authorization hold on your $100 will be lifted in accordance with the procedures of your credit card provider.

3. Bidder’s Duty to Update Information:  Whether you are a new or returning bidder, you agree that if any of the information associated with your bidder number – including contact information and credit card information – changes at any time prior to, during, or after this sale, you will notify the Auctioneer of the change by updating your bidder profile.   

4. Conduct of Sale:  All deposits, bids, and credits in this sale will be made in United States Dollars.  You agree not to use any hardware, software, program, or system that would interfere with the orderly conduct of this sale.  You further agree not to copy, reproduce, or publically display any content from the Auctioneer’s website without first obtaining written permission from the Auctioneer.

5. When You Have Been Outbid:  If you are outbid during the course of this auction, you will be notified by email.  You can review your bids at any time using the Auctioneer’s “Review Bids” feature; items on which you have been outbid will be clearly marked. 

6. Reporting Bidding Errors:  You should carefully review every bid you choose to make before submitting that bid.  The Auctioneer will not automatically assume that any bid – even a bid that increases your own, lower bid – was made in error.  Many bidders routinely increase their own bids to price an item out of the reach of other bidders.  If you mistakenly increase your own bid at any time during the auction, or make some other bidding error (e.g. placing your bidder number in the price field), you must immediately contact the Auctioneer by email at info@cargileauctions.com.  Reports of bidding errors must be made via e-mail.

7. Timeliness of Bidding Error Reports:  If you make a bidding error during this auction, you must identify and report the error before the auction begins to close.  The Auctioneer will not undo bidding errors reported after the auction has begun to close. 

8. Bidder’s Duty to Report Fraud:  You are responsible for all bids made from your account.  If you believe that an unauthorized person has gained access to your account, you must notify the Auctioneer immediately by sending an e-mail to info@cargileauctions.com.  You understand and agree that if you do not promptly report any suspected fraud to the Auctioneer, you will be held personally responsible for all purchases made using your account and bidder number.

9. Limitations:  These Terms and Conditions do not – nor are they intended to – create any agency-, partnership-, joint venture-, employer-employee-, or franchisor-franchisee relationship.  These Terms and Conditions cannot be altered except in writing by the Auctioneer.