Downstream The Park
Sold on August 15, 2019
from 2:00 PM to 2:00 PM UTC
Yellowhead County, AB
570 Acre Kocon Country Estate on Pembina River
570 Acre Kocon Country Estate on Pembina River
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Downstream The Park is being offered for sale via online escalating tender by CLHbid.com. Check the website for updates from time to time. The property may be viewed by interested registered bidders. Please contact us by email at firstname.lastname@example.org for an appointment. As a law firm, CLHbid never discloses bidder's names to any party, including the Seller. Only the successful buyer's name is ever disclosed to the Seller as part of the closing process.
from satisfied buyers
Our Colony has used CLHbid more than once to buy land. We like the process 100%. We think CLHbid is the best system for selling land. It is fair to sellers and buyers. We don't like closed tenders to a law firm where you only get one chance and never really know what goes on. Using CLHbid, we can keep increasing our bid. It gives us time to think and calculate from the privacy of our Colony. In the end, the buyer knows they paid a fair price.
Hutterian Brethren Church of Jumbo Valley - Fort MacLeod, AB
Focus Is Farm Land
As both a seller and buyer of agricultural land, I have made use of various platforms over the years. Most platforms, including those of the large auction companies, are very busy, as they try and sell everything from used lawnmowers to irrigated quarters. Whether selling or buying land, I much prefer the CLHbid platform. The CLHbid.com website is easy to navigate and user friendly to bid on. At the end of the day, I am confident that by just focusing on farmland, CLHbid.com brings a much higher value to sellers. I have used CLHbid.com to sell land in the past and would for sure use them again.
Farmland Investor - Grande Prairie, AB
Equal Chance for Buyers
A neighbor’s ranch that had been in their family for generations was listed for sale by real estate as one listing of over 40 quarter sections. None of us neighbors wanted or could afford it all and the real estate listing finally expired with no offers. The owners then put the land up for sale with CLHbid.com. This suited us neighbors perfectly and in the end seven of us bought the land we each wanted. I was able to bid on and buy my land from my house. CLHbid gave us all notice of the sale and allowed all neighbors an equal chance.
Rancher - Compeer, AB
Frequently Asked Questions
There are existing auction platforms out there such as the ‘Iowa Auction’ that stop bidding after all individual parcels have received high bids. Then for round #2 of the auction they allow past as well as new bidders to ‘up the ante’ by bidding on the entire farm or ranch with a reserve bid set at the aggregate price just bid on all individual parcels in round #1.
After seeking input from many farmers and ranchers, most told us they didn’t feel a platform such as this was fair to bidders on individual parcels who in many cases have went to a lot of work to get pre-approved for financing etc. Farmers and ranchers also indicated they didn’t think it is fair for a large player to ‘lay in the weeds’ and not bid until after the initial round of bidding. They also told us that it would not be fair to allow a larger player to acquire the entire farm or ranch for only a few dollars more than the aggregate of the prior individual bids. Hence the rationale for the ‘premium bid’ amount for the ‘en bloc’ parcel at the conclusion of the auction.
At CLHbid.com, you as bidder only need to be high on a certain number (generally less than 50%) of parcels in order to have a chance to acquire the entire farm or ranch, whereas at national Auction firms you generally have to be high on 100% of the parcels in order acquire the entire ranch or farm.
Bidders have no knowledge of the identity of other bidders. Likewise, the Seller during the sale is not privy to who may be bidding or how many parcels someone may be ‘high on’. At CLHbid.com we set out to create a platform for the selling or leasing of agricultural land that was honest, fully transparent and offered no opportunity for bids to be shopped by the Seller. This is especially important wherein the Seller has final approval.
At CLHbid.com we have put safeguards in place in our CLHbid.com contract with our Seller to ensure the Seller deals only with the high bidder at the conclusion of bidding. During the timed auction itself, all back-end information is locked down including who is bidding or who is registered to bid. At the conclusion of the bidding, the Seller is privy only to the name of the high bidder on each parcel.
The minimum increment for bidding is set prior to each specific sale in consultation with the Seller. The increments are set having regard to the FMV of the parcel being sold with more expensive parcels generally having larger increments.
We have all been to live auctions where a quarter of land worth $500,000.00 starts at $100,000.00. The parcel is then bid up in large increments initially with the increments gradually decreasing in size as the bidding approaches the end. At CLHbid.com, given our predetermined minimum increments, we try and speed up the process by starting the bidding at what we see as a reasonable number to start serious bidding at, yet a number still below FMV.
In addition, given the ‘en bloc’ final parcel bidding option offered at CLHbid.com, we require a floor number for each individual parcel in the unlikely event a specific parcel doesn’t receive a bid, yet at the conclusion an eligible bidder wishes to bid on the entire farm or ranch. In such a case, the Starting Bid becomes the value to be used for that Parcel not receiving a bid when determining aggregate bids. It is important to note the Starting Bid is not a Reserve Bid.
No. The Seller waives their right to approve the sale if there is a bid on the ‘en bloc’.
This is really no different than in the tendering process wherein Tenders stipulate “any and all tenders will not necessarily be accepted”. One issue with tendering is the cost to put a tender in the paper is nominal and there is always a risk of the Seller perhaps just feeling out the market or wanting to know the names of the parties interested.
At CLHbid.com one of the paramount reasons for allowing the Seller final say is to alleviate the need for an expensive Guarantee to the auction house – expensive and seldom called upon yet often required by the Sellers bank. The Seller’s bank doesn’t require the Seller to purchase a Guarantee when using the CLHbid.com platform wherein the sale is at the Seller’s discretion.
CLHbid.com incurs significant marketing costs in the event the Seller fails to accept the high bid(s). The Seller is under contract with CLHbid.com and the contract references trigger values indicating when the right of the Seller to refuse a sale is taken away.
At CLHbid.com, our Sellers are fully invested in the process meaning the likelihood of a high bid not being accepted is extremely remote.
No. At CLHbid.com there is no advantage to waiting to bid. Our platform has a ‘refresh’ function on the clock such that any bid placed near the expiration of the timed sale will automatically re-set the clock adding additional minutes to the clock giving all parties (including the bidder that was just outbid) another opportunity to bid.
At CLHbid.com we take the human element out of the process. During the bidding process if you are high, you will receive an online notice saying you are High Bid. If you get outbid you will receive an online notice saying you were Outbid. Immediately upon expiration of the timed sale, the high bidder will receive an email indicating they were the HIGHEST BIDDER.
All emails are auto generated. The question cannot arise as to whether you were high or not or “was it shopped to someone they liked better” such as when tendering land.
No. The Starting Bid is just that. The first bid required for a Parcel is the Starting Bid and not some number above it. If you are the initial bidder and just bid the basic minimum increment your Current Bid will be the Starting Bid number.
CLHbid.com doesn’t publish the name of the high bidder. We do, however, disclose the name of the high bidder to the Seller as they are then in a contractual agreement to buy and sell. We leave it up to the high bidder and Seller to tell whomever they wish.
CLHbid Makes Bidding Simple
The absolute transparency of this innovative format is a huge benefit to all parties involved. Bidders bid from the privacy of their own home on a set day.
The sale starts and finishes in a matter of hours and the time will extend if bids are placed in the last two minutes of the sale. As confidentiality and honesty are paramount to us, bidders names are never released.Learn More
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