Name Feed Store Auction - Mt. Vernon, TX
Auctioneer United Country Lewis Auction & Estate Services
Date(s) 11/11/2019 - 12/11/2019
11/11/19 11:59am CST 12/11/19 5:00pm CST
Preview Date/Time By appointment
Checkout Date/Time Immediately following close of auction
Location 305 W Main Street
Mt Vernon, TX 75457
Buyer Premium 0
Sealed Bid Auction Agriculture Feed Store in Mt. Vernon Texas. Located in Northeast Texas, this feed store sits on over an acre of commercial land within the city limits and centrally located in the region for ranchers, farmers and all other customers. Owner is retiring and looking to sell this profitable business before the end of the year. All offers are required to be provided to Auction company by December 11th, 2019 at 5:00 p.m. The Texas Country Farm Feed Store has a history of high sales with an increase in sales in recent years. Additional foot traffic and significant customer base provides opportunity for inventory expansion. Almost $1,000.000.00 in gross sales and approximately $65,000.00 in inventory to be conveyed with this valuable feed store business. Management is willing to stay and continue overseeing day to day operations and additional business growth. High variety of inventory is being conveyed with both local and national brands of feed. Purina, Natures, K9 Advantix, Frontline, Pedigree, even carries a bulk supply of feed, pet supplies, pest control supplies, livestock and pet medication and vaccinations, livestock tags, hunting supplies and additional everyday supplies needed for livestock and pets. Acreage amount TBD in new survey. Future growth and business expansion to include . 1+ Acres of City Commercial Land ideal for building storage units. . estimated 10,000 sq. footage of commercial building and warehouse space . possible bait and tackle shop . potential equipment leasing capabilities . easily accessible loading and unloading shipping docks. . centered around multiple ffa and agricultural based counties.
Auction Terms & Conditions Auction Terms and Conditions All bidders and participants of this sale agree that they have read and fully understand these terms and agree to be bound by the terms and conditions contained herein. Auction Timeline: The dates and times specified in the Auction Timeline contained as part of the Bidder’s Information Packet have been referenced herein and are hereby incorporated. Auction Contract Form: Sealed bids MUST be properly completed and submitted on the required “Auction Contract”. By submitting a bid, each bidder is agreeing to all Terms and Conditions of the sale. Bids not submitted on a properly and fully completed (and signed) Auction Contract may be rejected by Auctioneer and Seller at its sole discretion. Irrevocable Sealed Bid: Any Bidder which submits a bid understands and agrees that the integrity of the auction requires that the Bidder’s bid be an irrevocable offer to purchase the subject Property throughout the term of the auction for the amount of the bid. Submission and Delivery: All sealed bids must be received prior to 5:00 p.m. CST on December 11th, 2019 at the address noted below. Any and all Auction Contracts should be completed and signed by a person authorized to commit to the purchase of the property in the amount of the submitted bid. Any corporations or entities submitting a bid must furnish evidence that the officer(s) or employee(s) who executed the offer has been given the power to act on behalf of the corporation. AltaTerra Realty & Auction, LLC 1875 NE 17th St. Paris, TX 75460 (903) 438-2585 (Main) (903) 439-1045 (Fax) [email protected] Bidder Financial Information: Bidder agrees to include with the signed Bid Submission Form, a letter detailing how Bidder intends to fund the sealed bid they are submitting for the Property. The information must be satisfactory to the Seller and the Auctioneer to establish the Bidder’s ability to participate in the auction. Seller reserves the right to waive this requirement for any person or entity which the Seller is familiar with and is comfortable with their ability to perform. Acceptance of Winning Bid Price: The successful bidder will be required to enter into a Purchase Sale Agreement (the “Purchase Sales Agreement”) which may be obtained from Auctioneer as part of the bidder registration process. The successful bidder(s) shall execute and return the Purchase Sales Agreement with the balance of required ten percent (10%) escrow deposit to the Auctioneer prior to Auction Date. Escrow Deposit: A deposit of ten percent (10%) of the Total Contract Price will be required to be sent in with the executed Purchase Sales Agreement. The Escrow Deposit shall be made in the name of the escrow/title company designated in the Purchase Sales Agreement and shall be in the form of a wire transfer, cashier’s check, business check, or personal check. Inspection of Property: Anyone interested in the subject Property is invited and encouraged to thoroughly inspect the Property prior to submitting a sealed bid offer. The Property is being sold on an “AS-IS, WHERE-IS” and “WITH ALL FAULTS” basis. No warranties or representations either express or implied, concerning the Property is made by the Seller or the Auctioneer. Interested purchasers are strongly encouraged to perform their own due diligence prior to submitting a bid for the Property. Private tours of the Property and facilities can be arranged by contacting Auctioneer. Priority of tours and requested tour dates is based on the date of tour registration with Auctioneer. Financing and Local Approvals: This sale is NOT contingent on Buyer ability to obtain financing or local approvals. Buyer’s Premium: There will be Buyer’s Premium of 6% added to the Sales Contract Price and charged for this sale. Mineral Interests: Seller will transfer all mineral interests owned by Seller to the Buyer at no additional cost. Closing Fees and Possession: Each party shall pay their own closing costs. Possession of the Property shall be transferred at closing by Warranty Deed. Title Insurance: Seller shall provide to Buyer at Seller's expense an owner policy of title insurance (the "Title Policy") in the amount of the Total contract Price, dated at or after closing, insuring Buyer against loss under the provisions of the Title Policy. Proration’s: Taxes for the current year, interest, maintenance fees, assessments, and dues will be prorated through the Closing Date. Survey: Buyer shall be responsible for the cost of any survey. Buyer’s Broker Fee: A two percent (2%) Buyer’s Broker Fee based on the High Bid received (excluding any Buyer’s Premium) shall be paid to any properly licensed real estate broker whose client/bidder successfully purchases, closes and pays the Total Contract Sales Price for the subject Property. The Buyer’ Broker must complete the Buyer’s Broker Registration Form and return it to Auctioneer no later than the registration due date as specified in the Auction Terms and Conditions. Like-Kind Exchange: If Seller or Buyer desires to conduct a tax-free exchange under Section 1031 of the Internal Revenue Code of 1986, as amended, in connection with the transfer of the Property, the other party agrees to cooperate in the exchange transaction. Notwithstanding such cooperation, the party conducting the exchange will be responsible for making all arrangements incident to the like- kind exchange, and the other party will incur no liability of any kind whatsoever in consummating the like-kind exchange, except for failure to perform its obligations under this contract. Alterations and Modifications: The Terms and Conditions contained herein are subject to change without notice at the sole discretion of Auctioneer and Seller. Michael Strunc TX#18087 --------------------------------------------------------------------------------------- Sebae Data Solutions, Inc. SERVICE TERMS AND CONDITIONS ACCEPTANCE OF TERMS Sebae Data Solutions, (the makers of Auction Flex & HiBid (formerly Bidopia) hereafter referred to as "Sebae"), provides its service to you, subject to the following Terms & Conditions ("TAC"), which we may update from time to time without notice to you. The most current version of the TAC can be found found at any time by visiting the link: USE AND REGISTRATION Our services are available only to, and may only be used by individuals who can form legally binding contracts under applicable law. Without limiting the foregoing, our services are not available to children (persons under the age of 18) or to temporarily or indefinitely suspended members. If you are under the age of 18, you can use this service only in conjunction with, and under the supervision of your parents or guardians. If you do not qualify, please do not use our service. If you are registering as a business entity, you represent that you have the authority to bind the entity to the TAC. REGISTRATION OBLIGATIONS In consideration of your use of the Service, you agree to: (a) provide true, accurate, current and complete information about yourself as prompted by the Service's registration form (such information being the "Bidder Information") and (b) maintain and promptly update the Registration Data to keep it true, accurate, current and complete. If you provide any information that is untrue, inaccurate, not current or incomplete, or Sebae has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, Sebae has the right to suspend or terminate your account and refuse any and all current or future use of the Service (or any portion thereof).  DESCRIPTIONS OF SERVICE Sebae provides the following services under the Auction Flex & HiBid trademarks: Integrated Web Service (for auctioneers), internet bidding (absentee, online-only, & webcast). You can learn more about these services in the following sections. HIBID INTERNET AUCTION PLATFORM & WEB SERVICE DESCRIPTION Sebae provides the HiBid (formerly Bidopia) Internet Auction Platform & Web Service ("HWS") under the HiBid trademark as a software solution for auctioneers wishing to extend the audience of their live auctions to the internet. The HWS provides various features including internet absentee bidding, internet-only auctions, and webcast auctions.  The HWS is able to changes its appearance to coincide with the website that it is powering. Accordingly, the HWS powers the website as well as numerous Auction Flex customer websites. This ability to change appearance is a feature of the HWS. Much like internet merchant account providers can host a secure web page for a vendor to easily process payments, the HWS hosts certain portions of the auctioneer's website to easily enable advanced features such as internet bidding.  INTERNET ABSENTEE BIDDING Internet absentee bidding allows you to place a bid for an item in advance of an auction. This allows you to place bids on lots without actually attending the auction. INTERNET-ONLY AUCTIONS Internet only bidding allows you to place a bid for an item prior to the auction lot closing online. In an internet-only auction there is no live auction. WEBCAST AUCTIONS Webcast auctions allow you to bid in real-time against other bidders or place pre-bids prior to a lot going "live". Lots are sold in accordance with the Auctioneer's terms and conditions which are accessible from each lot's page. It is your responsibility to read and accept the Auctioneer's terms and conditions prior to placing your bid. When you place a bid you are agreeing to be bound by the Auctioneer's & Sebae's terms and conditions. By placing a bid you are entering into a legally binding and enforceable contract. Please keep in mind that you are bidding against other internet bidders as well as floor bidders, phone bidders, and regular absentee bidders (this list does not constitute a complete list of bidder types but does highlight the common bidder channels). The auctioneer, at their discretion, can approve or deny bidders. The auctioneer reserves the right to accept or deny bidders for any reason. Prior to approval the auctioneer may contact you to determine your credit worthiness. If the auctioneer approves your bid, the auctioneer will then process your bid in accordance with their terms and conditions. Should your bid for a lot prove successful, the auctioneer may contact you to arrange for payment & shipping (if applicable). If the auctioneer required registration via a credit card, the auctioneer reserves the right to process your winning bids to the credit card provided during registration. Sebae, through the Auction Flex & HiBid products & services, facilitates the internet bidding process between the Auctioneer & the bidder. Sebae is in no way a party to the transaction. Because Sebae is not a party to the transaction, you accept that you will have no claim or cause of action against Sebae in respect of the sale (or non-sale) of any Lot. If you have a dispute with an Auctioneer or another user of the Service with regard to the sale (or non-sale) of any Lot you agree that Sebae, its officers, agents, employees will not be liable for losses (including, but not limited to, loss of profits, special loss, indirect loss and consequential los), costs, damages, liabilities, claims, demands and expenses of any kind arising out of or connected with such dispute. You also accept that none of the aforementioned are under any obligation to take any action to resolve any dispute between you and an Auctioneer Sebae is not responsible for any typographical, pictorial or technical errors in information about Lots on the Site as provided by Auctioneers. Sebae does not evaluate Lots and does not act as a specialist or expert on any related subject matter. Sebae makes no warranties or representation of any kind or nature with respect to Lots (including but not limited to representations or warranties as to the accuracy of description, genuineness, quality, authorship, attribution, provenance, period, culture, source, origin or safety). If you have any questions, e-mail the Auctioneer directly. In particular, make sure that you understand the Auctioneer's payment terms and shipping terms. BIDDING The Service requires you to login with your username and password prior to placing a bid on a Lot. Making bids with false information or with stolen credit card information is prohibited and illegal. Your user name and password are required in order to place internet bids. Making bids in a false name or with an invalid or stolen credit card is prohibited. Each bid carries the computer coding of the Internet provider which allows the individual user to be traced and Sebae may at its discretion release this information to enable legal action to be taken. Sebae may, in its entire discretion, refuse or remove bids where it suspects that bids contravene this prohibition. By placing a bid, you are making a binding and irrevocable offer to purchase the Item at any price up to the maximum bid amount you submit. If you win, you must complete the transaction, subject to any contractual right or other right at law to rescind the contract in certain circumstances. Failure to complete transaction without lawful reason is not only a breach of your contract with the Seller but also a breach of this User Agreement. The amount bid can be increased but cannot be decreased. The auctioneer may, at their discretion, allow you to withdraw and resubmit a bid in the case of bids containing an obvious typographical error. You may forward a request to withdraw a bid and resubmit a correct bid by immediately sending an email to the auctioneer, however, there is no guarantee that any bid will be withdrawn. Although Sebae will use best efforts to forward all bids, Sebae does not accept any responsibility for lost bids or problems with the recipient auctioneer's ability to process your bid. Moreover, Sebae cannot guarantee that bids received will be processed by the individual auctioneers. Please note that Sebae's role is limited to the provision of the Site for dissemination and publication of information provided by the Sellers. THE WINNING BID The winning bid in an auction will be the highest bid that exceeds any reserve (if a reserve exists). In the case of equal bids, the earliest bid received will be the winning bid. If a higher bid is subsequently withdrawn or removed then the auctioneer shall have the right to accept the next highest bid. NOTICE OF END OF SALE, PAYMENT & SHIPPING After the sale has ended, the auctioneer will notify the winning bidder via phone, fax or mail that they have won. If you do not receive notice that you have made the winning bid and think that you are the top bidder, you should check with the auctioneer directly. You will make all payment for Items to the auctioneer in accordance with their terms and conditions. BUYER'S PREMIUM, TAXES AND DUTIES If you are a successful bidder, you are responsible for paying any buyer's premium, taxes and duties (including any VAT, sales tax and import duties) that may be imposed on the final price paid for an Item. Accordingly, it is your responsibility to check the applicable taxes and duties that may be imposed on an Item prior to bidding for it. PRIVACY We do not sell or rent your personal information to third parties for their marketing purposes without your explicit consent and we only use your information as described in the Privacy Policy. 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Sebae makes no warranty that (i) the service will meet your requirements, (ii) the service will be uninterrupted, timely, secure, or error-free, (iii) the results that may be obtained from the use of the service will be accurate or reliable, (iv) the quality of any products, services, information, or other material purchased or obtained by you through the service will meet your expectations, and (v) any errors in the software will be corrected. c. Any material downloaded or otherwise obtained through the use of the service is done at your own discretion and risk and that you will be solely responsible for any damage to your computer system or loss of data that results from the download of any such material. d. no advice or information, whether oral or written, obtained by you from Sebae or through or from the service shall create any warranty not expressly state in the TAC. LIMITATION OF LIABILITY You expressly understand and agree that Sebae shall not be liable for any direct, indirect, incidental, special, consequential or exemplary damages, including but not limited to, damages for loss of profits, goodwill, use, data or other intangible losses (even if Sebae has been advised of the possibility of such damages), resulting from: (i) the use or the inability to use the service; (ii) the cost of procurement of substitute goods and services resulting from any goods, data, information or services purchased or obtained or messages received or transactions entered into through or from the service; (iii) unauthorized access to or alteration of your transmissions or data; (iv) statements or conduct of any third party on the service; or (v) any other matter relating to the service. EXCLUSIONS AND LIMITATIONS Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for incidental or consequential damages. Accordingly, some of the above limitations of of the previous two sections titled 'Disclaimer of Warranties' and 'Limitation of Liability' may not apply to you. INDEMNITY You agree to indemnify and hold Sebae harmless from any claim or demand, including reasonable attorneys' fees, made by any third party due to or arising out of your breach of this Agreement or the documents it incorporates by reference, or your violation of any law or the rights of a third party. LEGAL COMPLIANCE You shall comply with all applicable domestic and international laws, statutes, ordinances and regulations regarding your use of our service and your bidding on, listing, purchase, solicitation of offers to purchase, and sale of items. GENERAL INFORMATION The TAC constitute the entire agreement between you and Sebae and govern your use of the Service, superseding any prior agreements between you and Sebae. 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