Auctioneer & Agent: C. Brent Wellings, License #618910, Broker: Paul A. Lynn & Associates, LLC
Auction Date
06/20/2023 6:00pm
Property Information
TOTAL SOLD: $5,787,600
| Tract(s): 1+2 | @ $421,200 | ($19,145/acre) |
| Tract(s): 3 | @ $187,200 | ($17,018/acre) |
| Tract(s): 4 | @ $161,200 | ($12,400/acre) |
| Tract(s): 5+7 | @ $624,000 | ($7,518/acre) |
| Tract(s): 6 | @ $192,400 | ($8,745/acre) |
| Tract(s): 8-10 | @ $2,392,000 | ($9,823/acre) |
| Tract(s): 11+12 | @ $1,809,600 | ($5,442/acre) |
• Road Frontage on Hwy 171
• Under 1 Hour to Downtown Ft. Worth (47 miles)
• Numerous Potential Building Sites
• Pre-Approved Parker & Covington Water Taps Available
• 517+/- Acres Tillable Acres per FSA
• Large, Mature Timber
• Outstanding Wildlife Habitat
Property Locations
Tracts 1-10: 11092 State Highway 171, Covington, TX 76636
Tracts 11-12: HCR 1413, Covington, TX 76636
Open House / Inspection Dates
Tuesday, May 16th – 5-8PM
Tuesday, June 6th – 5-8PM
Monday, June 19th – 5-8PM
Auction Location
First Baptist Church of Covington: 10549 TX-171, Covington, TX 76636
Tract Descriptions
Tract 1: 11± ac along Hwy 171, outstanding potential building site with huge oak trees and wonderful topography.
Tract 2: 11± ac along Hwy 171 which is another premier building site, large oaks and a stunning view to the west.
Tract 3: 11± ac at the intersection of Hwy 171 and CR 4105, another excellent building site on the highway.
Tract 4: 13± ac on Hwy 171, excellent topography and 360 degree views from this tract.
Tract 5: 16± ac on Hwy 171, excellent topography and more views from this potential homesite.
Tract 6: 22± ac along Hwy 171, a larger highway frontage tract that already has an established drive/entrance to the property!
Tract 7: 67± ac on CR 4105, predominately tillable with two drainages joining together that could make an excellent potential surface tank site if desired.
Tract 8: 40± ac on CR 4105, predominately tillable acres that could also make a great small farm or ranch property.
Tract 9: 78± ac on CR 4105, another excellent tillable land piece with a good place for a surface tank in the center of the property.
Tract 10: 125.5± ac on CR 4105, predominately tillable land – excellent farmland piece with Helden Clay and Altoga Silty Clay soils.
Tract 11: 200± ac accessed via a recorded easement from CR 1413. The ultimate combination of tillable land, with primarily Silstid Loamy Fine Sand soils and dense timber that creates a truly stunning wildlife setting. Wild Turkey, Deer and Wild Pigs frequent the property and with no abutting road frontage the new owner will have enhanced control over access!
Tract 12: 132.5± ac “Swing Tract” – outstanding balance of dense timber, tillable acres and an established coastal Bermuda hay meadow. This parcel will be offered as a “Swing Tract” and can be bid on in combination with Tract 11 OR by an adjoining landowner who has established legal access through an existing property.
Interactive Map
Maps
TRACT MAP
AREA MAP
Terms
BIDDING PROCEDURE: Tracts 1 through 12 will be offered in individual tracts, in any combination of these tracts, or as a total unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations and the total property may compete. The property will be sold in the manner resulting in the highest total sale price.
BUYER‘S PREMIUM: The purchase price will be the bid amount plus a 4% buyer’s premium.
DOWN PAYMENT: 10% of the total contract purchase price will be due as a down payment on the day of auction, with the balance due in cash at closing. The down payment may be made in the form of cashier’s check, personal check, or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.
APPROVAL OF BID PRICES: All successful bidders will be required to enter into purchase agreements at the auction site immediately following the close of the auction. The auction bids are subject to the acceptance or rejection by the Seller.
DEED: Seller shall be obligated only to convey a merchantable title by Warranty Deed.
EVIDENCE OF TITLE: Seller agrees to make available to bidder(s) a preliminary title insurance commitment to review prior to auction. At closing, Seller shall pay for the cost of issuing a standard coverage owner’s title insurance policy in accordance with the Final Title Commitment. Seller shall not be responsible for the cost of any extended or special title insurance coverage, title insurance endorsement and/or lender’s title insurance. Seller agrees to provide merchantable title to the property subject to matters of record, general conditions of title, and similar related matters. All tracts sold “AS–IS“.
CLOSING: The closing shall take place 45 days after the auction or as soon thereafter as applicable closing documents are completed by Seller.
POSSESSION: Possession shall be at closing, subject to the current tenant’s right to harvest existing row crops.
SURVEY: A new survey will be obtained only in necessary to record the conveyance or if otherwise deemed appropriate in the Seller’s sole discretion. If a new survey is obtained, the survey cost will be shared equally by Seller and Buyer.
TRACT MAPS; ACRES: Tract maps and advertised acres are approximations based on existing tax parcel data, legal descriptions &/ or aerial mapping data and are not provided as survey products.
REAL ESTATE TAXES: Real Estate taxes shall be prorated to the date of closing.
MINERALS: Seller specifically excepts and reserves all minerals, including without limitation, oil, gas, coal, coalbed methane, and all other hydrocarbons, lignite, and all metallic minerals, etc., if any, associated with the referenced real estate, and the term will not include any mineral rights.
CONDUCT OF AUCTION: The conduct of the Auction will be at the direction and discretion of the Auction Company, Seller and its agents reserve the right to preclude any person from bidding if there is any question as to the person’s identity, credentials, fitness, etc.
AGENCY: Schrader Real Estate and Auction Company, Inc., Paul A. Lynn & Associates, LLC. and their representatives are exclusive agents of the Seller.
DISCLAIMER AND ABSENCE OF WARRANTIES: ALL PROPERTY IS OFFERED “AS IS, WHERE IS“. NO WARRANTY OR REPRESENTATION, STATED OR IMPLIED, IS MADE BY SELLER OR AUCTION COMPANY CONCERNING THE PROPERTY. Prospective bidders are responsible for conducting their own independent inspections, investigations, inquiries and due diligence concerning the property. The information contained in the marketing materials is provided in order to facilitate (and not as a substitute for) a prospective bidder’s pre-auction due diligence. All marketing materials are subject to a prospective bidder’s independent verification. Seller and Auction Company assume no liability for any inaccuracies, errors or omissions in such materials. All sketches and dimensions are approximate.
CHANGES: Please regularly check www.schraderauction.com to review any changes and/or additional information.
THE PURCHASE CONTRACT DOCUMENTS WILL SUPERSEDE THE MARKETING MATERIALS AND ANY OTHER PRIOR STATEMENTS.