Hot Springs Commercial Property & Commercial/Residential Lot

Tuesday April 27, 2021 | Hot Springs, SD. US. 57747

There are no images for this auction. Please refer to the salebill for more information

Note: This is a live public absolute real estate auction, conducted at the property, 2302 University Ave., Hot Springs, SD at 10:30am Tuesday, April 27th. Online simulcast bidding and pre-bidding is available to pre-registered bidders, if you need/desire to bid remotely. Call for details. Auction Notice: In compliance with state and federal guidelines for COVID social distancing: Attendees in person should be in good health, free from underlying conditions and/or complications. Do not attend the LIVE auction unless your intent is to purchase. NO SPECTATORS. All lots may be purchased via simulcast webcast at www.bradeenauction.com, live auction attendees will be required to maintain a 6ft barrier between themselves and other attendees. Please respect this for the safety of all our patrons and employees. Terms and Conditions of Auction: Lots 1, 2, 3, 4 & 5, Block 1 Grand View Place Addition to City of Hot Springs, SD Tract 1: Lots 1 and 2 with 48'x48' Commercial building with 100' of frontage on high traffic University Ave. This commercial facility has 14' ceiling, 12'x16' overhead door with opener, 18'x20' office area with 2 offices and reception room, single Restroom, Propane forced air heat, baseboard electric heat in offices, new poured concrete apron in front of building. This location and building have unlimited potential for any variety of businesses. Tract 2: Lots 3, 4 & 5. 150' of University Ave. frontage, these lots are ready to build your dreams on. Entire Unit: A combination of Tracts 1 & 2 this package has been a successful business location for years. 250' of University Ave. frontage makes this a great location to set up shop in Hot Springs. Take time to inspect and be prepared to Bid Real Estate TERMS AND CONDITIONS: ABSOLUTE AUCTION! Selling to the highest bidder(s) without minimum or reserve bid! Offered in 2 separate tracts and as 1 entire unit, selling in the manner realizing the greater return. Successful bidders shall deposit 15% irrevocable earnest money within 24 hours of the close of the online auction, with the balance due upon closing, on or before May 27th, 2021. Property sold without buyer contingency of any kind. Have financial arrangements secured prior to bidding. Possible short term financing available (call for details). Property sold by legal description only. A survey, if required, would be at the expense of the buyer. Marketable title will be transferred by Warranty Deed, subject to easements, restrictions, covenants and/or reservations of record. A title insurance policy will be provided by Seller and is available for your inspection prior to the auction. 2020 and prior taxes will be paid by seller. 2021 real estate taxes will be prorated to date of closing using the most current tax levy available. Auctioneers, Brokers and their associated staff are representing the seller's interest in this transaction. All information was derived from sources deemed reliable; however, neither Seller nor the Auctioneers/Brokers are making any guaranties or warranties, actual or implied. Property selling "As-is where is". Inspect to the extent deemed necessary both on and off premise and use your own judgement when bidding. Inspection: Inspect the exterior and lots at your leisure, OR Auctioneers/Brokers will be at the property on Tuesdays April 13th and 20th from 3 pm to 5 pm and Friday April 23rd from 11:00 am to 3:00 each day, or call 605-673-2629 for appointment. Broker Participation is encouraged, call for details, required form and deadline. Watch www.bradeenauction.com for additional information, showing dates, photos, etc. Broker participation is encouraged, call for details, required form and deadline.


Announcement:Information contained herein is presented on behalf of the seller. Bradeen Real Estate & Auctions, agent for the seller, cannot guarantee the information to be correct or assume the liabilities for errors and omissions.  All lines drawn on maps are approximate. Buyers should verify the information to their own satisfaction.  Any announcements made from the auction block on day of auction will take precedence over any matter of print and will be final.

Lot#: 1

Agreement to Purchase please read

OFFER and AGREEMENT TO PURCHASE 2302 University Entire Unit. Ronald A. Bradeen of Bradeen Real Estate & Auctions Inc.; designated Auctioneer/Brokers, acknowledge receipt of: $_________________________, representing 15% of the purchase price from: ______________________________________________________, Designated as Buyer(s), with the address of ______________________________________________________________________________, as a deposit and irrevocable earnest money on the purchase of the property legally described as: Lots 1,2,3,4 &5, Block 1 of Grand View Place Addition, to the City of Hot Springs, Fall River County, South Dakota. Property Address: 2302 University Ave., Hot Springs, SD 57747 OWNED BY: Shane Bennett, hereinafter referred to as Seller. TERMS OF THE AGREEMENT 1. The total purchase price is $______________________, which includes the earnest money deposited herewith. 2. After earnest money is credited, the remaining balance of $_______________________________, is to be paid in full at closing, in guaranteed funds, on or before May 27th, 2021 3. Marketable title, as defined by the SD Merchantable Title Standards Act, shall be conveyed by Warranty Deed, properly executed with necessary transfer fee paid for recording subject to any easements, restrictions and reservations and covenants of record. The Seller will furnish a policy of title insurance in the amount of the sale price. 4. 2020 and prior years taxes will be paid by Seller, 2021 taxes will be prorated to closing date, based upon the 2020 tax levy. Buyer will be responsible for all subsequent taxes. Possession and risk of loss on the property transfer upon closing. 5. Broker shall act as escrow agent for both Seller and Buyer and it is agreed that the above earnest money deposit and balance of sale proceeds will be held in the SD Trust account of Bradeen Real Estate and Auctions Inc. of Custer SD, in account of the Seller until time of closing. Buyer understands and agrees that the above earnest money payment is irrevocable and is not subject to Buyer contingency of any kind. In the event the Buyer shall not complete the purchase as herein agreed, the Seller may elect to declare the earnest money as liquidated damages. Seller and Purchaser, upon such election by Seller, agree that in the event of default by Purchaser the actual damages accruing to seller would be impracticable or extremely difficult to fix and establish. Seller and Purchaser, upon such election by Seller, agree that the amount of the down payment set forth is a reasonable approximation of default and that amount shall be the liquidated damages due to seller. In addition, Seller may be entitled to such other remedies allowed by the laws of the State of South Dakota, including without limitation, seeking specific performance. 6. Buyer and Seller acknowledge that Ronald Bradeen, Broker and associated staff are representing the Seller in a Single Agency Relationship in this transaction. 7. Buyer has examined the property to the extent deemed necessary both on and off premise and is purchasing the property in an ?AS-IS? condition. The Seller and Auctioneer/Broker make NO WARRANTIES expressed or implied and DISCLAIM ALL OTHER WARRANTIES, including the property?s fitness for any particular purpose. Buyers are not relying upon any statements or representations made by the Auctioneers/Brokers or Seller in any way. Buyer is purchasing ?As-is, Where is?. Buyer to accept the property with any remaining misc. personal property at the time of closing. 8. Property sold by legal description only. Seller is not aware of any boundary disputes or encroachments. If a property survey is required it will be at the buyer?s expense. 9. Personal Property NOT included in this transaction include: Vehicle hoists, air compressor and other Cataloged online only auction items scheduled to close Tuesday April 27th 2021. Propane tank is leased. 10. Buyer and Seller agree for scheduling of the closing at the designated title company, Southern Hills Title Company of Custer/Hot Springs, SD and to share equally in cost of the closing fee with Buyer and Seller paying for customary closing costs incurred by this transaction. 11. Time is of the essence for purpose of performance under this agreement. 12. This agreement shall be governed by, and construed and enforced in accordance with the laws of the State of South Dakota. 13. The parties agree that this writing constitutes the entire agreement between them and that there are no other oral or collateral agreements or under standings of any kind or character. 14. If any provision of this agreement shall be invalid or unenforceable to any extent, the remainder of this agreement shall not be affected thereby and shall be enforced to the fullest extent permitted by law. 15. In the event of any litigation arising out of this agreement, the prevailing party shall be entitled to all of its costs and expenses, including reasonable attorneys? fees and disbursements. 16. This agreement accepted, signed and dated by the Buyers at Hot Springs, SD, this 27th day of April, 2021 and is binding on the heirs, successors and assigns of the parties. 17. This agreement accepted, signed and dated by the Sellers at Hot Springs, SD this 27th day of April, 2021 and is binding on the heirs, successors and assigns of the parties. BUYER: ___________________________________ ___________________________________ SELLER: ___________________________________ Shane Bennett Authorized Signature AUCTIONEER/BROKER ____________________________________ Bradeen Real Estate & Auctions, Inc. Authorized Signature


Lot#: 2

Method of Sale Please Read

METHOD OF SALE The following procedure will be used to determine the new owner(s) of the Bennett Property, located in Hot Springs, Fall River County, SD, Please read the following procedure carefully, the Auctioneers - Brokers will answer any questions you may have prior to the opening bid. 1. To become a qualified bidder you must register and obtain a bidder's number. 2. Property will be offered as follows: Please refer to the computer screen listing tract numbers, $ per tract bid, total bid, bidder number, and status columns throughout the course of the auction. 3. After opening statements and any questions, Auctioneer will ask for opening bids on high bidders choice of individual Tracts 1 or 2. All bids taken will be in total dollars per tract. As high bidder you may choose any or all of the tracts 1 or 2. Auctioneers will calculate the total bid, place your bidder number, and note "Hold" in the appropriate columns. 4. Auctioneers will then ask for bids on any remaining tracts (if any) in the same manner until a price has been established on each individual lots. 5. Calculations will be made to determine the overall price based upon the 2 individual bids. The entire property will then be offered at a price over and above this amount, (in total dollars). Auctioneers reserve the right to set the minimum acceptable raise. The high bid on the entire property, will then be calculated and posted. If no bidding occurs on the entire unit, Auctioneers will offer and sell the tracts individually in consecutive order, starting with Tract 1. 6. Property will be offered individually and as an entire unit, until no further bids are received one way or the other. Multiple rounds of bidding may occur*. Once the property is offered, either individually or as a unit, without establishing an overall amount greater than the current high bid, the property will not be offered in that manner again. Upon determining the manner of sale, either in individual tracts or as an entire unit, bidding will be opened briefly to establish the successful bidder(s). 7. Your competitive bidding, not the auctioneers, determines how many rounds will be held to determine the sale price and owner(s). 8. "Sold" will be noted on the screen next to the appropriate tract(s). All property will be sold to the highest bidder(s) without minimum or reserve bid. *Note: In the event that bidding occurs on the entire unit, individual tract bidders will be given the opportunity to advance their own bids in an attempt to achieve an overall amount greater than the entire unit bid.


Lot#: 3

Tract 1 Building on 2 lots

Tract 1: Lots 1 and 2 with 48'x48' Commercial building with 100' of frontage on high traffic University Ave. This commercial facility has 14' ceiling, 12'x16' overhead door with opener, 18'x20' office area with 2 offices and reception room, single Restroom, Propane forced air heat, baseboard electric heat in offices, new poured concrete apron in front of building. This location and building have unlimited potential for any variety of businesses.


Lot#: 4

Tract 2: (3) Residential/Commercial City Lots

Tract 2: Lots 3, 4 & 5. 150' of University Ave. frontage, these lots are ready to build your dreams on.


Lot#: 5

Entire Unit: Building on Lots 1,2,3,4 & 5

Entire Unit: A combination of Tracts 1 & 2 this package has been a successful business location for years. 250' of University Ave. frontage makes this a great location to set up shop in Hot Springs. Take time to inspect and be prepared to Bid


Lot#: 6

Auction info and Terms

Real Estate TERMS AND CONDITIONS: ABSOLUTE AUCTION! Selling to the highest bidder(s) without minimum or reserve bid! Offered in 2 separate tracts and as 1 entire unit, selling in the manner realizing the greater return. Successful bidders shall deposit 15% irrevocable earnest money within 24 hours of the close of the online auction, with the balance due upon closing, on or before May 27th, 2021. Property sold without buyer contingency of any kind. Have financial arrangements secured prior to bidding. Possible short term financing available (call for details). Property sold by legal description only. A survey, if required, would be at the expense of the buyer. Marketable title will be transferred by Warranty Deed, subject to easements, restrictions, covenants and/or reservations of record. A title insurance policy will be provided by Seller and is available for your inspection prior to the auction. 2020 and prior taxes will be paid by seller. 2021 real estate taxes will be prorated to date of closing using the most current tax levy available. Auctioneers, Brokers and their associated staff are representing the seller's interest in this transaction. All information was derived from sources deemed reliable; however, neither Seller nor the Auctioneers/Brokers are making any guaranties or warranties, actual or implied. Property selling "As-is where is". Inspect to the extent deemed necessary both on and off premise and use your own judgement when bidding.


Lot#: 7

Property Inspection

Inspection: Inspect the exterior and lots at your leisure, OR Auctioneers/Brokers will be at the property on Tuesdays April 13th and 20th from 3 pm to 5 pm and Friday April 23rd from 11:00 am to 3:00 each day, or call 605-673-2629 for appointment.


Auction Guy Advertising

Subscribe to our
Local Auction Newsletter