Auction Details
MINERAL RIGHTS AUCTION WHITE COUNTY, AR
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Type Live Auction |
Auction Dates Ends June 7, 2023 @ 1 pm |
ONLINE MINERAL RIGHTS AUCTION
BEGINNING MAY 24, 2023 @ 11 AM
ENDING JUNE 7, 2023 @ 1 PM
WE ARE SELLING MINERAL RIGHTS ONLY ON APPX 3.03 ACRES, WHITE COUNTY, ARKANSAS. THE INCOME FROM MERIT ENERGY FOR THE LAST 12 MONTHS WAS $5300.
LEGAL DESCRIPTION: MINERAL RIGHTS ONLY
A PART OF THE E 1/2 OF THE NW 1/4 OF SECTION 10, T7N, R8W, MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NE CORNER OF THE SE 1/4 OF THE NW 1/4 OF SECTION 10, THENCE SOUTH 00 DEGREES 31′ 14″ E, ALONG THE EAST LINE OF SAID SE 1/4 NW 1/4, 80.13 FEET TO THE NORTH RIGHT OF WAY LINE OF AR STATE HWY NO 36; THENCE ALONG A CURVE TO THE RIGHT, SAID CURVE HAVING A CHORD BEARING AND DISTANCE OF NORTH 83 DEG 38′ 14″ W, 107.59 FEET; THENCE CONTINUING ALONG SAID RIGHT OF WAY LINE, ALONG A CURVE TO THE RIGHT, SAID CURVE HAVING A CHORD BEARING AND DISTANCE OF NORTH 80 DEGREES 34′ 50″ W, 291.10 FEET; THENCE NORTH 78 DEGREES 22′ 26″ W, ALONG SAID RIGHT OF WAY LINE, 59.36 FEET FOR THE POINT OF BEGINNING; THENCE CONTINUING NORTH 78 DEGREES 22′ 26″ W, ALONG SAID RIGHT OF WAY LINE, 150.00 FEET; THENCE NORTH 00 DEGREES 41′ 33″ W, 884.25 FEET; THENCE SOUTH 89 DEGREES 43′ 07″ E, 145.01 FEET; THENCE SOUTH 01 DEGREES 02′ 09″ E, 525.65 FEET; THENCE SOUTH 00 DEGREES 30′ 53″ W, 18.32 FEET; THENCE NORTH 80 DEGREES 56′ 36″ W, 1.21; THENCE SOUTH 00 DEGREES 41′ 33″ E, 370.0 FEET TO THE POINT OF BEGINNING. APPX 3.03 ACRES MORE OR LESS
10% BUYER’S PREMIUM – PLEASE CLICK ON ‘TERMS’ TAB FOR COMPLETE LIST OF TERMS.
PLEASE CLICK ON ‘BID NOW’ TAB TO BID ONLINE.
All announcements day of sale supersede this ad
Terms and Conditions
Looper Auction & Realty II, LLC
4525 Palestine Road,
Huntington AR 72940
(479) 996-4848
Registration finalizes – Each bidder agrees to terms and conditions of sale. Do not bid unless you agree to be bound by these terms. Property to be sold as is where is with faults, without express or implied warranties of any kind. Buyer is to perform all inspections prior to auction with professionals of their choosing. Looper Auction & Realty II, LLC represents the sellers only and does not inspect properties on behalf of buyers and assumes no responsibility for the correctness of any descriptions.
We are selling mineral rights only. Buyer is responsible for transferring payment from Merit Energy after filing of the mineral deed. Seller will give the buyer a mineral deed only. If buyer wishes to do a mineral search, buyer will pay for the search and any other closing fees.
Buyer must make a 10% non-refundable deposit at the conclusion of bidding. Buyer must also execute the sales contract. Balance of purchase price along with all closing costs will be due within 15 days. Buyer to pay all closing costs including 10% buyer’s premium, title work, revenue stamps, closing fees, filing costs, and any other fees. Seller will cure any title problems if necessary. Auctions are conducted subject to Court, Bank, or Seller approval. The court, bank or seller retains their right to bid or have someone bid on their behalf. Possession will be upon closing with filing of deed. 10% deposit will be refunded if seller defaults. Property is sold with no contingencies, buyer should conduct all inspections required by lender prior to auction. If a lender is being used, buyer should be pre-qualified.
Purchase price is amount of highest bid plus 10% buyer’s premium to make a total purchase price. Buyer to make a 10% non-refundable deposit of the total purchase price.
***Example – High bid is $500,000
$500,000 plus $50,000 = $550,000
10% non-refundable deposit = $55,000
All information given orally or in writing was derived from sources believed to be correct, but is not guaranteed. All real estate dimensions are only approximations. Buyers shall rely entirely on their own information, judgement and inspection of the property and records.
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