Terms & Conditions
Please read and review the Auction Terms and Conditions thoroughly before registering to bid and placing a bid. If you do not understand the terms or have not read these terms, please do not register.
Placing a bid on any auction indicates acceptance of and agreement with the Terms and Conditions of this contractual agreement between the bidder and Hewitt Land Company.
Bidding & Registration Information
By registering as an online bidder, the bidder contractually agrees to comply with the Auction Terms and Conditions available on this bidding platform as well as at www.hewittlandcompany.com.
Identity verification is a standard part of the bidder registration process. If identity verification is questionable, Hewitt Land Company has the right to reject the registration, and bidding activity will be terminated. The Seller and Hewitt Land Company reserve the right to preclude any bidder if there is any question regarding credentials, mental fitness, et cetera.
Bidders agree to keep their username and password confidential, as they are personally held responsible for any and all activity involving their account.
Some auctions may require a credit card authorization to complete the bidder’s registration, and if the bidder fails to execute an accepted contract or provide the required Earnest Money Deposit by the deadline provided in the Auction Terms and Conditions, his/her credit card may be charged.
Online Use & Technical Issues
Internet connections may be delayed or unreliable as the sole source of communicating a bid to the auctioneer. Neither the seller nor Hewitt Land Company, Inc., nor any associates affiliated with Hewitt Land Company, Inc. shall bear any responsibility for internet connections. For assistance in placing bids during the auction feel free to call one of the following numbers; Tanner Hewitt, 605-490-7952, Tyson Hewitt, 605-206-0034, or JD Hewitt, 605-347-1100.
When using the online bidding website, the user agrees to obey any and all local, state and federal laws. Violations will result in termination of website use privileges.
In the event there are technical difficulties related to the server, software, internet or any other online auction-related technologies, Hewitt Land Company reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software, nor Hewitt Land Company shall be held responsible for a missed bid or the failure of the software to function properly for any reason.
Conduct of the Auction
The Preliminary Title Commitment is available online and at the live auction. The bidder agrees that this commitment will be finalized following any required surveying, and that title insurance will be available at the buyer’s expense unless disclosed otherwise in the Auction Terms and Conditions.
The tracts are being sold “as-is, where-is” and each bidder should conduct his/her own due-diligence related to each tract.
The bidder acknowledges that if a bid is submitted during the auction, the bid may become the high bid and therefore obligate the bidder to purchase the tract(s) or parcel(s) at the bid price plus any relevant Buyer's Premium described in the auction materials.
The minimum bid increase will be set prior to each auction. Bids will be recognized in the order received. In the event of a tie bid between an internet bidder and a bidder on the floor, the bid on the floor will be given priority.
Hewitt Land Company reserves the right to reject any and all bids for any reason. It also reserves the right to cancel an auction, or remove any item or lot from this auction prior to the close of bidding. All decisions of Hewitt Land Company are final.
Hewitt Land Company auctions are not timed events, except in the case of online only auctions.
The winning bidder will be required to complete, sign and return the real estate contract without modifications following the auction. The winning bidder will be required to provide the specified non-refundable earnest money deposit as stated in the contract. The purchaser will be responsible for any related fees. Should the winning bidder not comply within the stated time frame, he/she shall be held responsible.
Both the winning bidder and Seller shall hold harmless Hewitt Land Company for any liabilities or expenses resulting from either Bidder’s or Seller’s failure to fulfull any obligations set forth in these Terms and Conditions.
Property Terms of Sale
The Real Estate Terms and Conditions specific to each auction are listed additionally.
Spear S Ranch Absolute Auction: Terms of Sale
The property will be offered in ten (10) individual tracts, five (5) distinct combinations of tracts, and as one entire unit, selling in the manner realizing the greatest return to seller. All bids will be made on a per acre basis. Bids will be recognized in the order received. In the event of a tie bid between an internet bidder and a bidder on the floor, the bid on the floor will be given priority.
Tracts will be presented for sale individually, and then the five distinct combinations of tracts will be presented. Bidders may not suggest combinations other than the distinct combinations being offered.
Successful bidder(s) shall make a 10% non-refundable earnest money deposit at the conclusion of the auction with the balance due in certified funds at closing, on or before March 12, 2020. Property sells ABSOLUTE, without reserve bid and without buyer contingency of any kind. Have your financial arrangements secured prior to bidding!
Title transfers by Warranty Deed, an owners’ policy title commitment showing merchantable title, subject to conditions, restrictions, zoning, and easements of record will be provided and is available for review prior to the auction. The 2019 and prior years’ RE taxes will be paid by the Seller, the 2020 RE taxes, payable in 2021, shall be the responsibility of the Buyer. The closing agent fee and cost of Owners Policy of title insurance will be divided equally between Buyer(s) and Sellers. Sellers make no representation as to any interest in mineral, oil, gas, fossil and hydrocarbons of any nature. All Seller’s mineral interests owned (if any) shall transfer with title. Announcements made sale day take precedence over any printed material.
Taxes: $96,093.66 (entire Spear S Ranch)
Closing shall be on or before March 12, 2020. No early possession shall be granted, however parties shall be granted access to the premises for the purposes of surveying, fencing and appraisal.
Hewitt Land Company Represents the Sellers in this Transaction. Broker Participation is invited, (form and deadline required).
Buyers’ Premium: A 1.0% buyers’ premium shall be added to the sale price to arrive at the final Contract Price.
OWNERS: SPEAR S CATTLE COMPANY, LLC and ANDEN VAN BEEK
Newell, South Dakota 57760
This is a sample auction for demonstration purposes.