By accepting the terms and conditions of this auction you acknowledge you are entering into a legal and binding contract:

The Terms and Conditions of Sale are set forth in the Buyer's Prospectus and the Earnest Money Receipt and Purchase Agreement.  The information set forth is believed to be accurate.  However, the owner of the properties and Steffes Auctioneers make no warranties or guaranties expressed or implied.  Information contained in this document was collected from sources deemed reliable and is true and correct to the best of the writer's knowledge.  Auctioneers and owners will not be held responsible for advertising discrepancies or inaccuracies.
ALL ANNOUNCEMENTS ON AUCTION DAY TAKE PRECEDENCE OVER PREVIOUSLY ADVERTISED INFORMATION.
Prospective buyers are advised to consult with an attorney of their choice with respect to the purchase of any real property including but not limited to, seeking legal advice from their own attorney regarding disclosures and disclaimers set forth below.

SPECIFIC TERMS FOR ONLINE ONLY AUCTION   

This is an online only auction and conducted on our IQBID.COM system.

Steffes Auctioneers and IQBID.COM along with their employees are seller's agents and are licensed in the state where the property is located. We strongly recommend buyers secure buyer representation, at their expense, in all real estate transactions.

Bids placed on any tracts within the last 4 minutes of the auction will extend the auction, on all tracts, an additional 4 minutes. Bid extensions continue and auction does not end until there are no bids for 4 minutes on all tracts.

This property sells for cash with no owner financing.  Bidders must have financing secured prior to bidding. The sale of this property IS NOT contingent on the bidder securing financing.

The auction begins at 8:00AM and will end at 12:00 PM Wednesday, October 23, 2013

• All bidders must register with IQBID as an online bidder to participate in the auction.

• Ten percent down upon signing Purchase Agreement with remaining balance due at closing.  All bidders must register their name, address, and telephone number at IQBID.com along with submitting a letter of recommendation from your bank or lending institution of your choice to Steffes Auctioneers, c/o Max Steffes.  Please email letters to maxs@SteffesAuctioneers.com, fax to 701.237.0976 or mail to 2000 Main Ave East, West Fargo, ND, 58078 to be approved for bidding.  An example for the recommendation letter can be provided and is included in the Buyer's Prospectus.

• The successful bidder will be required to sign an Earnest Money Receipt and Purchase Agreement at the close of the real estate auction. A total deposit of 10% of the purchase price will be required. Those funds will be placed in a Real Estate Trust Account as good faith money until closing.
• The contract signing will take place at Steffes Auctioneers, 2000 Main Avenue East, West Fargo ND.
• If the winning bidder is unable to come to the Steffes office for signing of the contract, contact Max Steffes (701) 237-9173.  Arrangements will be made to email or fax a copy of the contract for signature. The buyer would fax the signed copy back to (701) 237-0976 or send a scanned copy by email.
• Purchasers who are unable to close because of insufficient funds will be in default and the deposit money will be forfeited. Balance of the purchase price must be paid in full with cashier's check at closing on or before Tuesday, November 26, 2013.
• Closing will take place at a professional closing company agreeable to both buyer and seller.
• Seller will provide up-to-date abstract(s) at their expense and will convey property by Warranty Deed.
• Subsequent taxes and or special assessments, if any, to be paid by buyer. Real Estate Taxes are subject to reassessment under new owner.  2013 taxes will be paid by Seller.
• Closing Agent Fee will be shared equally between Buyer and Seller.
• All bidding is open to the public and the property is offered for sale to qualified purchasers without regard to sex, race, color, religion, natural origin or handicap.
• Please note the bidding will not close and property will not be sold until everyone has had the opportunity to make his or her highest and best bid.
• The minimum bid raise is $1,000
• THE PROPERTY WILL BE SOLD AS IS WITH NO WARRANTIES EXPRESSED OR IMPLIED.
• THE PROPERTY WILL BE SOLD SUBJECT TO SELLER CONFIRMATION.

PROPERTY SOLD WITHOUT WARRANTY

All dimensions and descriptions are approximations only based upon the best information available and are subject to possible variation. Sketches may not be drawn to scale and photographs may not depict the current condition of the property. Bidders should inspect the property and review all the pertinent documents and information available, as each bidder is responsible for evaluation of the property and shall not rely upon the Seller, Broker or Auctioneer, their Employees or Agents. The property will be sold AS IS and without any warranties or representations, expressed or implied.

The Seller has agreed to the terms of the sale as published. However, the Broker and Auctioneer make no warranties or guaranties as to the Seller's performance.

AGENCY DISCLOSURE

Steffes Auctioneers Inc. is representing the Seller and will be paid by the seller.

POSSESSION

Possession will be at closing.

MINERAL RIGHTS

All mineral rights, if any, held by Seller will be transferred upon closing. However, the Seller does not warrant the amount or adequacy of the mineral rights.

ENVIRONMENTAL DISCLAIMER

The Seller, Broker and Auctioneers do not warrant with respect to the existence or nonexistence of any pollutants, contaminants or hazardous waste prohibited by federal, state or local law. Buyer is responsible for inspection of the property prior to purchase for conditions including but not limited to water quality, and environmental conditions that may affect the usability or value of the property. No warranties are made as to the existence or nonexistence of water wells on the property, or the condition of any well.

CRP CONTRACT

Buyers shall assume CRP contract.

EASEMENTS AND SURVEY

The property to be sold is subject to any restrictive covenants or easements of record and any results that an accurate survey may show.

BIDDING PROCEDURE
As a buyer you have two objectives to accomplish:
1.  Purchasing Property
2.  Purchasing the property at a price you can afford.

How is this accomplished?
1.  Estimate comparative value
2.  Experienced buyers always decide what to pay before the    bidding begins.
3.  Inspect the property carefully.
4.  Compare with other properties available in the area.
5.  Check the selling price of previously sold properties.
6.  Discuss your buying plans with a lender.  Have your financing arrangements made in advance.
7.  This sale is not subject to financing

AVOID OVER OR UNDER BIDDING
-  Always bid on a property toward a price.
-  Establish that price before the bidding begins.  By doing this you will avoid getting caught up in the auction excitement and pay a price that is too high for the market or one that you cannot afford.  It will also make you confident to bid to your established fair market value.  Many bidders who do not plan ahead end up with regrets after the auction because they were to nervous or uncertain about their judgement to bid.

THE BIDDING STRATEGY
-  Research and know the value of the property.
-  Have your financing arranged before the auction.
-  Establish your highest and best bid before the bidding begins.
-  Make your bids promptly fo force other bidders up or out without delay.

When using our online auction services you are making firm commitments to purchase said item(s) and are entering into a legal and binding contract. Bids may not be cancelled or retracted for any reason. Non paying bidders or fraudulent bidding will subject you to legal recourse and possible criminal charges including any fraud and/or interstate commerce violations. You also acknowledge that the Internet may be an unreliable and error prone network. Steffes Auctioneers and IQBID.com will not guarantee that bids placed online will always be transmitted to or received by the auctioneer in a timely fashion. You agree to hold Steffes Auctioneers, IQBID.com and their employees harmless for any interruptions in online bidding. Further, the auctioneer has the sole discretion to accept or refuse any bid. Steffes Auctioneers and IQBID.com retains the right, at our sole discretion, to add, delete or change some or all of our online services and the terms and conditions governing their online auctions at any time without notice.