SOLD
51,000.00USD+ applicable fees & taxes.
This item SOLD at 2023 Feb 06 @ 15:02UTC-6 : CST/MDT
Did you win this lot?
A full invoice should be emailed to the winner by the auctioneer within a day or two.
Tract 2 - Legal Description: S32, T26, R13, ACRES 154.7, SE/4 LESS A TR BEG 265 N & 20 W OF SE/C W 425 N 368 E 425 S 368 TO POB & LESS RD R/W, Pratt Co, KS- MINERALS 12.5% Royalty Interest – Producing Minerals. RAMA Operating Co, Inc. is the Operator and owner of the oil equipment.
Auction Location:
107 NE State Road 61, Pratt, Kansas, 67124, United States
Previewing Details:
Call John Hamm at 620-450-7481 or Kevin Hamm at 620-770-2381
Buyer's Premiums:
| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
50,000.00 |
0% |
| 50,000.00 |
Infinite |
0.00 |
Additional Fees:
Shipping Details:
No Info Available
Payment Details:
$20,000 Earnest Money for tract 1 the day of sale. $10,000 Earnest Money for Tract 2 the day of sale. Balance in Certified Funds on Closing
Accepted Payment Methods:
- Money Order/Bank Draft
- Wire Transfer
Terms and Conditions
The auction will be conducted by Hamm Auction & Real Estate, LLC (“Hamm”) on behalf of the owner of the property (the “Seller”). The real estate offered for sale at auction (the ‘Property “) is fully described in the Purchase contract, a copy of which is available for inspection.
1. Any person who registers or bids at this Auction (the “Bidder) agrees to abide by these Terms and Conditions, the auction announcements, and the Purchase contract for the described property.
2. The Real Estate is not contingent upon inspections of any kind. The Real Estate is offered at public auction in its present, “as is where is” condition and is accepted by Bidder in that manner. Absolutely NO expressed or implied warranties are offered. It is incumbent upon Bidder to exercise Bidder’s own due diligence, investigation, and evaluation of suitability of use of the property prior to bidding. It is Bidder’s responsibility to have any and all inspections (whole house, termite, septic, water well, roof, electrical, plumbing, structural) completed prior to bidding. Bidder acknowledges the opportunity to inspect the property prior to the auction. Any disclosures provided by Seller or Hamm has been made available to the Bidder. Bidder is responsible to verify the accuracy of all information. In bidding on the Real Estate, Bidder is relying solely on Bidder’s own investigation of the Property and not on any information provided by Seller or Hamm.
3. No warranties of any type are offered between the Seller and Bidder or between Hamm and Bidder.
4. The Real Estate is not offered contingent upon financing. Buyer should have financing in order (if needed) to close on the agreed date.
5. In the event that Bidder is the successful bidder, Bidder must execute the Purchase contract and `tender an earnest money deposit in the form of cash, check or certified funds in the amount specified in the Purchase contract (made payable to the title company as specified in Purchase contract . Balance of the purchase price will be in certified funds made payable to the title company outlined in the Purchase contract, at closing on the specified closing date. The Real Estate must close within 30 days of the date of the auction, or as otherwise agreed to by Seller and Bidder in the Purchase contract. The Contracts will be written in the name used to create the online bidding account unless other prior arrangements are made with Hamm.
6. Auction announcements made the Day of Sale take precedence over anything previously stated or printed, including these Terms and Conditions.
7. A bid placed by Bidder will be deemed conclusive proof that Bidder has read, understands, and agrees to abide by these Terms and Conditions.
8. These Terms and Conditions, as they relate to the qualifications of potential bidders, are designed for the protection and benefit of Seller They do not create any additional rights for Bidder.
9. In the event Bidder is the successful bidder at the auction, Bidder’s bid constitutes an irrevocable offer to purchase the Property and is bound by said offer. If the Bidder is the successful bidder but fails or refuses to execute the Purchase contract, Bidder acknowledges that he will be in violation of the Kansas statute of frauds. Seller will seek all legal remedies under those statutes against the Bidder.
10. It is the Bidders responsibility to make sure that Hamm is aware of Bidder’s attempt to place a bid. Hamm disclaims any liability for damages resulting from any bid not spotted, executed, or acknowledged. Hamm is not responsible for any errors in bidding and Bidder releases and waives any claims against Hamm for internet, phone or live bidding errors.
11. Bidder authorizes Hamm to film, photograph, and record the voice or image of Bidder and any guest including any minor accompanying Bidder at this auction and to use the films, photographs, recordings, and other auction information, including the sales price of the Property, for promotional and Real Estate purposes.
12. Hamm is acting as a Seller’s Agent and not as an agent for Bidder. Hamm is not a party to the Purchase contract between Seller and Bidder. Under no circumstances will Hamm be liable to Bidder for any damages, including incidental or consequential damages, related to this auction, the Purchase contract, or Seller’s failure to execute or abide by the Purchase contract.
13. Neither Seller nor Hamm, including its employees and agents, will be liable for any damage resulting in an injury to the Property or person at or upon the Property. All persons entering on the premises assumes any and all risks whatsoever for their safety and for any minors or guests accompanying them. Seller and Hamm expressly disclaim any “invitee” relationship and are not responsible for any damage or injury of any kind. Seller and Hamm are not responsible for any lost, stolen, or damaged property.
14. To the extent permitted under Kansas applicable law, Hamm has the right to establish bidding increments for each and any tract.
15. Hamm has the right at its sole discretion, reject, disqualify, or refuse any bid believed to be fraudulent, illegitimate, not in good faith, or by someone who has a mental illness, incompetent or made in violation of these Terms and Conditions or applicable Kansas law.
16. Bidder represents and warrants and affirms that they are bidding on their own behalf and not on behalf of the Seller.
17. The Real Estate is offered for sale to all persons without regard to race, color, religion, sex, handicap, familial status, or national origin.
18. These Terms and Conditions are binding on Bidder and on any of the Bidder’s partners, representatives, employees, successors, executors, administrators, and assigns.
19. In the event that any provision contained in these Terms and Conditions is determined to be invalid, illegal, or unenforceable by a court of competent jurisdiction, the validity, legality, and enforceability of the remaining provisions of the Terms and Conditions will not be in any way impaired.
20. These Terms and Conditions are to be governed by and construed in accordance with the Real Estate laws of Kansas, but without regard to Kansas’s rules governing conflict of laws. Exclusive venue for all disputes lies in either the Pratt County Court, Kansas District Court or the U.S. District Court in Wichita, KS. Bidder submits to and accepts the jurisdiction of such courts.
21. When creating their online bidding account, Bidder must provide accurate and complete and true information. Bidder is solely responsible for maintaining the confidentiality and security of their online bidding account and accepts all the responsibility for any use of their online bidding account. If the Bidder believes that their online bidder account has been compromised, Bidder must immediately inform Hamm a John@hammauction.com.
22. Bids submitted using the online bidding platform cannot be retracted. Bidder accepts full responsibility for the uses of their online bidding platform. Hamm is not responsible for any mistakes, errors, data problems, omissions relating to the submission or acceptance of online bids. Hamm makes no representations or warranties as to the online bidding platform’s uninterrupted function, availability or accessibility and makes no representations or warranties as to the online bidding platform’s compatibility or functionality, or accessibility with Bidder’s hardware or software. Neither Hamm or any individual or entity involved in creating or maintaining the online bidding platform will be liable for any damages of any type arising out of Bidder’s use or attempted use, availability of use of the online bidding platform, including, but not limited to, damages arising out of the failure, interruption, unavailability, availability, or delay in operation of the online bidding platform.
23. If the successful Bidder fails to comply with Bidder’s obligations in paragraph 5 of these Terms and Conditions within 24 hours after the completion of the auction, then Bidder will be in breach of the Terms and Conditions and Hamm may attempt to resell the Real Estate to other potential buyers. Bidder will remain liable to Seller for any damages resulting from Bidder’s failure to comply with these Terms and Conditions as set forth in Paragraph 5.
24. Bidder may not use the online bidding platform in any manner that is in violation of these Terms and Conditions or applicable Kansas law, or in any way that is designed to alter the online bidding platform in a detrimental manner, or to undermine the enjoyment of others in the online bidding platform.
25. Buyer bears sole responsibility to verify the accuracy of any information presented in any form in regards to the Property for sale.