Auction Information
Lamb Watts Tract 1
Lamb County Irrigated Land Auction* 3 Tracts*
8 Wells* 3 Pivots* Offered Separate and Combined*
463 Acres Total* Consisting of Tract 1: 189.9+/- Acres* Tract 2: 171+/- Acres, and Tract 3: 102+/- Acres. Date: Friday, February 26, 2016* Time: 10:00 am
Legal Description Tract 1: A5400, Ellwood Subdivision, Part of 208, Lamb County Texas, containing 164.929 acres more or less, and A5400, Out of Tract 207, 24.9 acres more or less, Lamb County Texas, for a total of 189.9 acres more or less.
Description: Tract 1 is a nice irrigated Lamb County farm with 3 irrigation wells, a Valley 1999 8 tower pivot with standard panel, underground tile, and CRP in the north corners. The wells average 240 depth and are producing a total of approximately 350 gallons of water per minute. The NE and NW corners are enrolled in the USDA CRP program through 9/30/2020 with an annual payment of $1005.00.
The grass...
The grass is in good condition. All pumps and pivot appear to be well cared for and in good condition. The land is very clean and ready to go to work for a 2016 crop. Tract 1 is contiguous with Tract 2 which is located to the south, and also with FM 1072 frontage that provides excellent access. These tracts will be offered separately, and then combined at the auction. View USDA maps, base and yield information, and photos on my website.
Taxes: $822.57 (all entities, base amount, ag exempt)
Minerals and Wind Rights: Seller reserves one half of the mineral interests currently owned. Seller reserves one half of the wind rights.
Terms: Property will be offered in multiple tracts, and then combined at auction and sold AS IS. Buyer and Seller will sign a standard Farm and Ranch contract immediately after the auction. Buyer is required to pay 10% earnest money day of sale, and close and fund the transaction within 30 days after the auction date. EARNEST MONEY WILL BE NON REFUNDABLE IF TRANSACTION FAILS TO CLOSE DUE TO BUYERS INABILITY TO OBTAIN FINANCING, IF ANY. Earnest money will be credited to the purchase price at closing. Seller will provide title insurance and deed preparation. This is a reserve auction. Seller will have 45 minutes after the auction to accept or reject any and all bids. SOLD FOR CASH* NOT CONTINGENT ON FINANCING*Any announcements made sale day take precedence over all other previous advertisements. EACH BIDDER SHOULD PERFORM AN INVESTIGTION TO VERIFY THE INFORMATION IN THIS FLYER, AS NO WARRANTIES ARE CREATED WITHIN*
Note: Street Real Estate and Five Star Auctioneers represent the Seller in this transaction.
If a Buyer uses another Realtor or Broker, that Buyer must pay the other Realtor or Brokers fee, if any. (There is no Buyers premium)
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Location of Sale: From Fieldton Texas, 5 miles south on FM 1072 to barn on west side of road, or from Littlefield Texas, 6 miles east on Hwy 54, then 3 miles north on FM 1072.
Location Tract 1: 4 miles south of Fieldton Texas on the east side of FM 1072. County Road 252 is the north boundary.