Faulk County, SD Land Auction
204 Main St - Cresbard, SD
Mary 24, 2023
192.33 Acres sold for $5050/acre!
Auctioneers Note: Mark your calendar and plan on joining us for an attractive 199.23 acre Faulk County, SD, land auction for the Bisbee family in Cresbard, SD! The property has been owned by the Bisbee family since the 1950s. Presently, the land consists of 123.29 acres under cultivation, and the balance of the land in pasture. The land will be sold subject to the current one-year lease agreement with purchaser receiving the rent income for 2023! The property will be offered in two individual tracts and one combination. It is our pleasure to partner with our friends at Jark Auction, Aberdeen, SD! Feel free to contact Val Jark, 605-380-2244 or Chisum Peterson, 605-234-4214 with any questions about this auction.
Directions From Cresbard, SD: One-half mile south on Main Street (362nd Ave), 3.5 miles east on Highway 20, 4.5 miles south on 365th Ave. Tract 1 is on east side of 365th Ave, Tract 2 is on the west side of 365th Ave. Signs designate the property. Inspect on your own – from the road. Private showings available by contacting the auction company.
Tract 1: Parcel A: SW ¼ (Ex RTW & NW Corner Parcel) in Section 26-T119N-R67W, Faulk Co., SD. Parcel B: Beginning at the northwest corner of the SW ¼ of Section 26-119-67 and running thence east along the quarter line 22 rods, thence south parallel with the section line 22 rods, thence west parallel with the north boundary line 22 rods to the section line; thence north along the section line 22 rods to the point of beginning, Faulk Co., SD. 153.33 acres. This well-located quarter features 123.29 acres presently under cultivation, 20.96 acres of grass west of the creek, 5 acres of low-lying area and the balance in right-of-way. Tract 1 boasts a 79 productivity index indicating very high quality soils! The pasture is fenced and livestock water is available from the south fork of Snake Creek. This parcel features outstanding access with gravel road on three sides! Real Estate Taxes: $1980.84 (2022).
Tract 2: NE 1/4 SE ¼ (EX 1 A RTW) in Section 27-T119N-R67W, Faulk Co., SD. 39 acres. This all grass 39 acre parcel has very good access along the east boundary and an overall productivity index of 67. Tract 2 features a WEB rural water pasture tap and has the south fork of Snake Creek meandering through the land. The property is not completely fenced out of the adjoining land. Real Estate Taxes: $425.16 (2022).
Tract 3: Combination of Tracts 1-2. 192.33 acres. Property will be sold in the manner that generates the most revenue for the seller.
Owners: Dean Bisbee, Terry Bisbee, Susan Sutthill et al
Terms & Conditions
1. Buyer and Seller agree to execute a written purchase agreement within 24 hours of auction closing.
2. Non-refundable deposits in the amount of 15% (Fifteen Percent) of the final selling price shall be tendered by the purchaser at time of purchase agreement execution.
3. No Buyer contingencies of any kind are offered, nor will any be accepted. These include but are not limited to financing, appraisal, and inspections. Potential buyers are expected to have their financial arrangements secured prior to bidding. Buyers who are unable to close because of insufficient funds will be in default and the earnest money will be forfeited.
4. Each potential bidder shall be responsible for conducting, at their own risk, independent inspections, inquiries, and due diligence concerning the property. Each potential bidder shall be liable for any property damage caused by any such inspections or investigations.
5. Seller makes no warranty whatsoever about the property and specifically disclaims all warranties of fitness for a particular purpose or any warranty.
6. Property is being sold by legal description only.
7. Property sells in AS-IS condition.
8. Property will be sold subject to confirmation of the seller(s).
9. Closing date shall be on or before June 30, 2023, at Heartland (Faulk Co.) Title Company, SD. The closing fee shall be divided equally between the buyer and seller. Merchantable title shall be conveyed by Warranty Deed. Owners title insurance will be provided with the cost divided equally between buyer and seller.
10. The ag land sells subject to the current farm lease which expires December 31, 2023.
11. 2022 Real Estate taxes due and payable in 2023 will be paid by the Seller. 2023 Real Estate taxes due and payable in 2024 shall be the responsibility of the purchaser based on the most current county information.
12. Chisum E. Peterson, Broker and Peterson Land & Auction LLC, Brokerage Firm, and Val Jark, Real Estate Auctioneer, Jark Auction, represent the Seller Only in this transaction.