Auctioneer & Agent: C. Brent Wellings, License #618910, Broker: Paul A. Lynn & Associates, LLC
Auction Date
10/19/2023 6:00pm
Property Information
TOTAL SOLD: $2,007,200
| Tract(s): 1 | @ $650,000 | ($16,666/acre) |
| Tract(s): 2 | @ $494,000 | ($10,739/acre) |
| Tract(s): 3 | @ $286,000 | ($2,979/acre) |
| Tract(s): 4 | @ $291,200 | ($3,882/acre) |
| Tract(s): 6 | @ $286,000 | ($4,612/acre) |
• Brownsville Development Potential
• Income Producing Wind Lease
• 291+/- Tillable Acres per FSA
• 222+/- Irrigated Acres
• Brownsville, Delta Lakes & Cameron County
• No. 2 Irrigation Districts
Outstanding Rio Grande Valley irrigated farmland portfolio, consisting of 4 separate farms in Cameron, Willacy and Hidalgo Counties! Rare opportunity to acquired quality irrigated acres in a diverse portfolio such as this, with the inclusion of wind lease rights. Excellent development potential exists with the Brownsville farm located on Southmost Road. View the individual tract descriptions for details on each property. Buyers may submit bids on any individual property or combination of tracts that best fit their needs!
Open House / Inspection Dates
Tuesday, September 26th from 9am-12pm
Wednesday, October 18th from 3-6pm
Meet Brent Wellings at Hampton Inn & Suites, 1202 N Ed Carey Dr, Harlingen, TX 78550
Auction Location
Capital City Event Center
1202 W Van Buren Ave, Harlingen, TX 78550
Tract Descriptions
Tract 1: 39± ac located on Southmost Road, just outside the Brownsville City Limits. Excellent development potential with city water available and excellent access on both the north and west boundaries of the property. From an agriculture standpoint, farm has been precision leveled with primarily Olmito Sity Clay and Rio Grand Silt Loam soils and is located in Brownsville Irrigation District.
Tract 2: 46± ac located along Southpoint Road, just outside Brownsville City Limits. Outstanding precision leveled farm within Brownsville Irrigation District, Olmito and Rio Grand Silt Loam soils. Tracts 1 & 2 have combined 79.96+/- tillable acres per FSA maps which has all been machine leveled.
Tract 3: 96± ac irrigated farm located 5 miles northeast of San Benito off Vasquez Road. The farm contains 83.69+/- tillable acres per FSA maps with primarily Laredo Silty Clay Loam soils. Located within the boundaries of Cameron County No. 2 Irrigation District and also bordering canal on the north boundary of property.
Tract 4: 75± ac dryland farm located in Willacy County approximately 13 miles east of Lyford, along County Road 1450. 69.1+/- tillable acres per FSA with Raymondville Clay Loam and Willamar Fine Sandy Loam soils. Nice laying farm with active wind lease which will be offered as a separate tract.
Tract 5: ACTIVE WIND LEASE, 2022 annual revenue of $5,075.00, exciting opportunity to acquire income producing asset with minimal management requirements!
Tract 6: 62± ac irrigated farm located in Hidalgo County approximately 5 miles northeast of Elsa, off Mile 21 North Rd. This property could make an excellent potential building site and includes 58.31+/- tillable acres per FSA. Primary soil types include Hidalgo Sandy Clay Loam, Willacy Fine Sandy Loam soils. The property is located within Delta Lakes irrigation district.
Interactive Map
Maps
TRACT MAP(S)
TRACTS 1-2
TRACT 3
TRACTS 4-5
TRACT 6
AREA MAP
Terms
BIDDING PROCEDURE: Tracts 1 through 6 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 “Property” 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 questions 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.
Property Attachments
- Auction Brochure
- Information Book
- Bidder Pre-Registration Form
- Online Bidder Registration Form
- Prelim Title – Tracts 1&2
- Prelim Title – Tract 3
- Prelim Title – Tract 3
- Prelim Title – Tract 3
- Prelim Title – Tract 3
- Prelim Title – Tract 4
- Prelim Title – Tract 6
- Prelim Title – Tract 6
- Prelim Title – Tract 6
- Prelim Title – Tract 6