Hall Lake Cabins Auction

Extremely Profitable Investment Opportunity!


HALL LAKE CABINS & RENTALS LLC. PRESENTS:

REAL ESTATE AUCTION!

10 LAKESHORE CABINS AND HOME ON BEAUTIFUL HALL LAKE.

(Postponed until next weekend)

LIVE ON-SITE AUCTION
Began: 04/21/18 at 11:00 AM CDT
Ended: 04/21/18 at 1:00 PM CDT
Location: 2410 Albion Ave., Fairmont, MN 50631

Clark Auction Service LLC. and Steve Fausch Auctioneers have been commissioned to auction off this beautiful property to the public!

Own a great, profitable and historic piece of Fairmont right on the shores of Hall Lake!

Due to the winter storm coming into the area over the weekend we are going to extend the Hall Lake Cabin Auction for another week. 

Contact Auctioneers for more information. Thank-you

 House Cabin:

  Details:  1,241sq/ft

Asphalt Shingle Roof, Wood Frame, Hardboard Masonite Siding, Vinyl Double Pane Windows, Window Air Conditioning, Forced Air Furnace, Outside Deck, Comes with Outside Shed. 

Year-Round Cabins: 

Details: 

Unit-4 – 468 Sq/Ft 

Unit-5 – 336 Sq/Ft 

Unit-6 – 360 Sq/Ft

Year-Round Cabin Details: Asphalt Shingle Roof, Wood Frame, Wood Siding, Vinyl Double Pane Windows, Window Air Conditioning, Forced Air Furnace, Community Interest in 3-Outdoor Sheds.

Seasonal Cabins: 

Details: 

Unit-7 – 225 Sq/Ft 

Unit-8 – 225 Sq/Ft 

Unit-9 – 225 Sq/Ft 

Unit 10 – 240 Sq/Ft 

Unit-11 – 240 Sq/Ft

Seasonal Cabin Details: Asphalt Shingle Roof, Wood Frame, Wood Siding, Vinyl Double Pane Windows, Window Air Conditioning, Forced Air Furnace, Community Interest in 3-Outside Sheds. 

Common Interest: 

Docks:  All units have availability to docks and access to the Hall Lake.

Furnshings:  All cabins are furnished with stove, fridge, sink, beds, television, microwave & coffee maker. (Contact Auctioneers for details) 

All Units will be charged $150/Month for all of the following:

Insurance, Cable/TV, Internet, Lawn Care & Snow Removal, Water, Sewer, Electric, Gas & Heat, Roof Replacement & Repairs, Misc.

All Units come with access to outside sheds. 

All Units have access to 660 Feet Frontage Road 

All Units have access to City water & sewer.

All Owners will be members of Hall Lake Cabin Association. (Contact Auctioneers for more details.)

Method of Auction:

This will be a 4-part Auction. 

Selling 1st will be the Seasonal Cabins by choice, meaning bidders have the right to bid on 1 or all 5 Seasonal cabins of their choice. Highest bid will be put on hold. 

Selling 2nd will the Year-Round Cabins by choice, meaning bidders will have the right to bid on 1 or all 3 Year-Round Cabins of their choice. Highest bid will be put on hold. 

Selling 3rd will be the main house and shed. Highest bid put on hold. 

Selling 4th will be all 10 cabins and the house as a business. Highest bid will be put on hold.

After all 4 methods are done the one that generates the highest bid, meaning either all Cabins and house are going to be sold individually or all the cabins and the house is going to be sold as a business. Contact Auctioneers for more information or to receive a selling packet.

 

TERMS AND CONDITIONS OF AUCTION

CONDITIONS OF SALE.  The terms and conditions for the sale of the Units are set forth in a Purchase Agreement to be executed at the Auction by Seller and the successful bidder (Bidder or Buyer).  Additional information and copies of the Property Information Packets are available for review prior to the Auction.

 AUCTION PROCEDURE.  The Auction will be conducted in four parts, as follows: 

Selling 1st will be the Summer Cabins by choice, meaning Bidders have the right to bid on 1 or all 5 Summer Cabins of their choice. Highest bid will be put on hold.

Selling 2nd will be the All-Season Cabins by choice, meaning Bidders will have the right to bid on 1 or all 3 All-Season Cabins of their choice. Highest bid will be put on hold. 

Selling 3rd will be the House (Unit 1) and shed. Highest bid put on hold.  

Selling 4th will be all 10 Cabins and the House as one parcel. Highest bid will be put on hold.  

After all 4 methods are done, the one that generates the highest bid, meaning either all Cabins and the House will be sold individually, or all Cabins and the House will be sold as one parcel. Contact the Auctioneer for more information or to receive a Property Information Packet.

The selling price(s) shall be determined by competitive bidding. Bids remain open until the Auctioneer declares the bidding closed.  If any dispute arises between Bidders, the Auctioneer shall have the right to make the final decision to either determine the successful Bidder or to resell the parcel in dispute. The Auction will be recorded and if any dispute arises, the Auctioneer’s sales records shall be conclusive in all respects.

 BIDDER REGISTRATION. This Auction is for registered bidders and their guests. Auction day registration will begin one hour prior to the Auction time.  ALL BIDDERS, prior to receiving a bid number, must provide sufficient evidence (e.g bank letter or equivalent) to the Auctioneer that they have adequate funds and/or financing to close on the offered property. Bidders MUST register their name, address, and telephone number with the registration clerk, providing photo I.D. (i.e. driver’s license).  Seller and/or Auctioneer reserve the right to refuse admittance to or expel anyone from the Auction for interference with the Auction activities, nuisance, canvassing or other reasons.

 TERMS.  All cash, payable at Closing, pursuant to the Purchase Agreement, on or before Tuesday, May 15, 2018, not subject to post due diligence, except as provided in Paragraph 15 below. 

 RIGHT TO ACCEPT OR REJECT.  The Units are being offered for sale subject to Seller approval. Seller reserves the right to accept or reject any and all offers in the event acceptable bids are not received for at least four Units. 

 PROPERTY INFORMATION PACKETS.  Property Information Packets containing the Terms and Conditions for the Auction, Disclosure Statement, Purchase Agreement, CIC Plat and other information regarding the Units, may be obtained by contacting the Auctioneer, as follows:

Steve Fausch Auctioneers

Clark Auction Services LLC        

1521 Southview Court 

Fairmont, MN 56031 

Telephone:  507-235-5892 

Emails: 

dave@clarkauctions.com

steve@clarkauctions.com

jerry@clarkauctions.com

 CONFIRMATION OF BID.  Successful Bidders will execute “Confirmation of Bid” forms immediately upon award of the right to execute a Purchase Agreement, as announced by the Auctioneer, which are subject to Seller’s approval.  Successful Bidders must then execute the completed Purchase Agreement and deposit the Earnest Money with the Auctioneer.

  EARNEST MONEY:  The successful Bidders will be required to provide a minimum Earnest

Money deposit of 10% of the sale price (Purchase Price) upon execution of the Purchase  Agreement.  Bidders must be prepared to issue a personal check for the Earnest Money, to be made payable to Jenkinson Abstract Company, to complete the Earnest Money deposit requirement.

 CLOSING.  All sales must close no later than Tuesday, May 15, 2018, unless extended in writing by Seller.  Closing will be conducted by Jenkinson Abstract Company at 118 West Third Street, Fairmont, Minnesota 56031.

 ADDITIONAL TERMS.   All dimensions and descriptions are approximations based on the best information available and subject to possible variation. Bidders should inspect the property and review all of the pertinent documents and information in the Property Information Packets available from the Auctioneer.  Each Bidder is responsible for evaluating the Units and shall not rely upon Seller or Auctioneer. Seller and Auctioneer, or their agents, assume no liability for errors or omissions. The Units are being sold subject to federal, state and county laws, ordinances and regulations which may affect the Common Interest Community (“CIC”) and the Units, and its use, including all conditions, restrictions and limitations and other matters of record.  THE UNITS AND INTERESTS IN THE CIC ARE BEING SOLD AS-IS AND WITHOUT ANY WARRANTIES OR REPRESENTATIONS, EXPRESSED OR IMPLIED.  No claim will be considered for allowance, adjustment or rescission based upon failure of the Unit to correspond to any particular standard or exception. Seller and Auctioneer have the right to postpone or cancel the Auction, in whole or in part, to add or delete properties (including Units 2 and 3, Hall Lake Cabins, CIC 11), at their sole discretion, and to modify or add any terms and conditions of sale and to announce such modifications or additional terms and conditions either prior to or at the Auction. Announcements made at the Auction will take precedence over printed matter. No phone, fax or emailed bids will be acknowledged on sale day unless prior arrangements have been made with the Auctioneer.  

AGENCY DISCLOSURE.  Clark Auction Services LLC, doing business as Steve Fausch Auctioneers, is representing Seller and will be paid by Seller.  Bidders will be required to acknowledge such agency. 

SELLER’S PERFORMANCE.  Seller has agreed to the terms of the sale as published.  However, the Auctioneer makes no warranties or guarantees as to Seller’s performance.  All properties are being offered for sale to qualified purchasers without regard to the prospective purchaser’s sex, race, color, religion or national origin.

 FAILURE TO CLOSE:  In the event that the successful Bidder fails to close for any reason that is not the fault of the Seller, the Earnest Money shall be retained by Seller as liquidated damages pursuant to the Purchase Agreement.

 DISCLAIMER.  The square footage dimensions and acreage amounts represented are based upon information provided by Seller and are believed to be correct; however, Bidders shall bear the responsibility to confirm all calculations prior to the auction. 

 STATUTORY NOTICE.  The properties being sold are units in a common interest community established under Minnesota Statutes Chapter 515B, and the following notice is provided pursuant to Minn. Stat. 515B.4-106. 

(a)                Within 10 days after the receipt of the Disclosure Statement, the purchaser may cancel any contract for the purchase of a Unit from the Declarant; provided, that the right to cancel terminates upon the purchaser’s voluntary acceptance of a conveyance of the Unit from the Declarant or by the purchaser agreeing to modify or waive the right to cancel in the manner provided by Minn. Stat. 515B.4-106.

(b)               If the purchaser has received the Disclosure Statement more than 10 days before signing a purchase agreement, the purchaser cannot cancel the purchase agreement. 

(c)                If the Declarant fails to deliver a disclosure statement which substantially complies with Minnesota Statutes Chapter 515B to a purchaser to whom a Unit is conveyed, the Declarant shall be liable to the purchaser as provided in Minn. Stat. 515B.4-106(d). 

(d)               The Declarant shall have the right to amend the Disclosure Statement at any time prior to closing.  In such event, the Declarant shall deliver a copy of the amendment to the purchaser.  If the amendment to the Disclosure Statement materially and adversely affects the purchaser, then the purchaser shall have 10 days after delivery of the amendment to cancel the purchase agreement in accordance with Minn. Stat. 515B.4-106.

 SELLER.  The Seller of the Units is Hall Lake Cabins and Rentals LLC, a Minnesota limited liability company, whose registered office is 225 Coffee Mill Drive, Wabasha, Minnesota 55981.

AUCTIONEER’S NOTE:  OWN A PIECE OF FARMONT HISTORY.   IN THE “CITY OF LAKES.” DON’T PASS UP THIS ONE TIME OPPORTUNITY TO PURCHASE THE ENTIRE SITE AS AN INVESTMENT OR TO PURCHASE A CABIN FOR YOUR FAMILY.  THIS IS AN EXCELLENT INCOME PRODUCING PROPERTY. NOT RESPONSIBLE FOR ACCIDENTS 

TERMS AND CONDITIONS OF AUCTION

 CONDITIONS OF SALE:  The terms and conditions for the sale of the Units are set forth in a Purchase Agreement to be executed at the Auction by Seller and the successful bidder (Bidder or Buyer).  Additional information and copies of the Property Information Packets are available for review prior to the Auction.

 AUCTION PROCEDURE:  The Auction will be conducted in four parts, as follows:

Selling 1st: will be the Summer Cabins by choice, meaning Bidders have the right to bid on 1 or all 5 Summer Cabins of their choice. Highest bid will be put on hold.

Selling 2nd: will be the All-Season Cabins by choice, meaning Bidders will have the right to bid on 1 or all 3 All-Season Cabins of their choice. Highest bid will be put on hold.

Selling 3rd: will be the House (Unit 1) and shed. Highest bid put on hold. 

Selling 4th: will be all 10 Cabins and the House as one parcel. Highest bid will be put on hold. 

After all 4 methods are done, the one that generates the highest bid, meaning either all Cabins and the House will be sold individually, or all Cabins and the House will be sold as one parcel. Contact the Auctioneer for more information or to receive a Property Information Packet.

The selling price(s) shall be determined by competitive bidding. Bids remain open until the Auctioneer declares the bidding closed.  If any dispute arises between Bidders, the Auctioneer shall have the right to make the final decision to either determine the successful Bidder or to resell the parcel in dispute. The Auction will be recorded and if any dispute arises, the Auctioneer’s sales records shall be conclusive in all respects.

BIDDER REGISTRATION: This Auction is for registered bidders and their guests. Auction day registration will begin one hour prior to the Auction time.  ALL BIDDERS, prior to receiving a bid number, must provide sufficient evidence (e.g bank letter or equivalent) to the Auctioneer that they have adequate funds and/or financing to close on the offered property. Bidders MUST register their name, address, and telephone number with the registration clerk, providing photo I.D. (i.e. driver’s license).  Seller and/or Auctioneer reserve the right to refuse admittance to or expel anyone from the Auction for interference with the Auction activities, nuisance, canvassing or other reasons.

 TERMS:  All cash, payable at Closing, pursuant to the Purchase Agreement, on or before Tuesday, May 15, 2018, not subject to post due diligence, except as provided in Paragraph 15 below.

RIGHT TO ACCEPT OR REJECT.  The Units are being offered for sale subject to Seller approval. Seller reserves the right to accept or reject any and all offers in the event acceptable bids are not received for at least four Units.

PROPERTY INFORMATION PACKETS.  Property Information Packets containing the Terms and Conditions for the Auction, Disclosure Statement, Purchase Agreement, CIC Plat and other information regarding the Units, may be obtained by contacting the Auctioneer, as follows:

Steve Fausch Auctioneers

Clark Auction Services LLC.       

1521 Southview Court

Fairmont, MN 56031

Telephone:  507-235-5892

Email:  clarkauctions.com

 CONFIRMATION OF BID.  Successful Bidders will execute “Confirmation of Bid” forms immediately upon award of the right to execute a Purchase Agreement, as announced by the Auctioneer, which are subject to Seller’s approval.  Successful Bidders must then execute the completed Purchase Agreement and deposit the Earnest Money with the Auctioneer.

EARNEST MONEY:  The successful Bidders will be required to provide a minimum Earnest

Money deposit of 10% of the sale price (Purchase Price) upon execution of the Purchase  Agreement.  Bidders must be prepared to issue a personal check for the Earnest Money, to be made payable to Jenkinson Abstract Company, to complete the Earnest Money deposit requirement.

 CLOSING.  All sales must close no later than Tuesday, May 15, 2018, unless extended in writing by Seller.  Closing will be conducted by Jenkinson Abstract Company at 118 West Third Street, Fairmont, Minnesota 56031.

 ADDITIONAL TERMS.   All dimensions and descriptions are approximations based on the best information available and subject to possible variation. Bidders should inspect the property and review all of the pertinent documents and information in the Property Information Packets available from the Auctioneer.  Each Bidder is responsible for evaluating the Units and shall not rely upon Seller or Auctioneer. Seller and Auctioneer, or their agents, assume no liability for errors or omissions. The Units are being sold subject to federal, state and county laws, ordinances and regulations which may affect the Common Interest Community (“CIC”) and the Units, and its use, including all conditions, restrictions and limitations and other matters of record.  THE UNITS AND INTERESTS IN THE CIC ARE BEING SOLD AS-IS AND WITHOUT ANY WARRANTIES OR REPRESENTATIONS, EXPRESSED OR IMPLIED.  No claim will be considered for allowance, adjustment or rescission based upon failure of the Unit to correspond to any particular standard or exception. Seller and Auctioneer have the right to postpone or cancel the Auction, in whole or in part, to add or delete properties (including Units 2 and 3, Hall Lake Cabins, CIC 11), at their sole discretion, and to modify or add any terms and conditions of sale and to announce such modifications or additional terms and conditions either prior to or at the Auction. Announcements made at the Auction will take precedence over printed matter. No phone, fax or emailed bids will be acknowledged on sale day unless prior arrangements have been made with the Auctioneer. 

 AGENCY DISCLOSURE.  Clark Auction Services LLC, doing business as Steve Fausch Auctioneers, is representing Seller and will be paid by Seller.  Bidders will be required to acknowledge such agency.

 SELLER’S PERFORMANCE.  Seller has agreed to the terms of the sale as published.  However, the Auctioneer makes no warranties or guarantees as to Seller’s performance.  All properties are being offered for sale to qualified purchasers without regard to the prospective purchaser’s sex, race, color, religion or national origin.

 FAILURE TO CLOSE:  In the event that the successful Bidder fails to close for any reason that is not the fault of the Seller, the Earnest Money shall be retained by Seller as liquidated damages pursuant to the Purchase Agreement.

 DISCLAIMER.  The square footage dimensions and acreage amounts represented are based upon information provided by Seller and are believed to be correct; however, Bidders shall bear the responsibility to confirm all calculations prior to the auction. 

 STATUTORY NOTICE.  The properties being sold are units in a common interest community established under Minnesota Statutes Chapter 515B, and the following notice is provided pursuant to Minn. Stat. 515B.4-106.

(a)                Within 10 days after the receipt of the Disclosure Statement, the purchaser may cancel any contract for the purchase of a Unit from the Declarant; provided, that the right to cancel terminates upon the purchaser’s voluntary acceptance of a conveyance of the Unit from the Declarant or by the purchaser agreeing to modify or waive the right to cancel in the manner provided by Minn. Stat. 515B.4-106.

(b)               If the purchaser has received the Disclosure Statement more than 10 days before signing a purchase agreement, the purchaser cannot cancel the purchase agreement.

(c)                If the Declarant fails to deliver a disclosure statement which substantially complies with Minnesota Statutes Chapter 515B to a purchaser to whom a Unit is conveyed, the Declarant shall be liable to the purchaser as provided in Minn. Stat. 515B.4-106(d).

(d)               The Declarant shall have the right to amend the Disclosure Statement at any time prior to closing.  In such event, the Declarant shall deliver a copy of the amendment to the purchaser.  If the amendment to the Disclosure Statement materially and adversely affects the purchaser, then the purchaser shall have 10 days after delivery of the amendment to cancel the purchase agreement in accordance with Minn. Stat. 515B.4-106.

SELLER.  The Seller of the Units is Hall Lake Cabins and Rentals LLC, a Minnesota limited liability company, whose registered office is 225 Coffee Mill Drive, Wabasha, Minnesota 55981.

AUCTIONEER’S NOTE:  OWN A PIECE OF FARMONT HISTORY.   IN THE “CITY OF LAKES” THERE WILL BE

AN AUCTION OFFERING 9 INDIVIDUAL CABINS ON HALL LAKE.  ALL HAVE LAKE ACCESS WITH ONE AND

TWO BED UNITS.  DON’T PASS UP THIS ONE TIME OPPORTUNITY TO PURCHASE THE ENTIRE SITE AS AN

INVESTMENT OR TO PURCHASE A CABIN FOR YOUR FAMILY.  THIS IS AN EXCELLENT INCOME

PRODUCING PROPERTY.  NOT RESPONSIBLE FOR ACCIDENTS.  

Property is located at:

2410 Albion Ave. in Fairmont Minnesota.

Property has a 600′ Frontage Road that connects to the cabins. Property sits on the shores of Hall Lake.

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Clark Auction Service

http://www.clarkauctions.com

4908 130th Ave Ledyard, IA 50556

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