Three-Point Hitch
Sold on February 4, 2021
from 6:00 PM to 6:00 PM UTC
Location
Sexsmith, AB
Sale Size
1 Parcel, 126 ± Acres
Final
$330,000
Opportunity for investors, farmers or those wanting to move out of the city. 3 quarters, being sold in separate Parcels, just 5 miles east of Sexsmith, Alberta. Low Starting Bids and generous SLR on each quarter to help with the payments! See Parcel Details for the Starting Bids.
Opportunity for investors, farmers or those wanting to move out of the city. 3 quarters, being sold in separate Parcels, just 5 miles east of Sexsmith, Alberta. Low Starting Bids and generous SLR on each quarter to help with the payments! See Parcel Details for the Starting Bids.
Sale Details
Documents To Review
Sale Description
[https://clhbidstorage.blob.core.windows.net/documents/Auctions/9569549d-211d-4370-8c28-08d8657d624f/TinyMCEPictures/8445e09e-09ea-467f-b410-b3099cdc4be4.jpg]CLHbid.com is offering up for sale a new model of the celebrated three-point hitch coming in February, 2021. Three quarter-sections of land just five miles east of the town of Sexsmith, Alberta. Whether you're an investor, farmer or City dweller looking to move to the Country, backing up to hook to these three quarters will put a permanent smile on your face.
[https://clhbidstorage.blob.core.windows.net/documents/Auctions/9569549d-211d-4370-8c28-08d8657d624f/TinyMCEPictures/6abc6ea4-b5a9-45c1-813b-361c4274ce2e.jpg]When you combine current historically low-interest rates with the momentous Surface Lease Revenue on each of the quarters, this hitch offers up an opportunity to purchase farmland near an urban centre for almost unheard-of prices. The SLR alone will potentially service the interest component on over half the purchase price, with the interest rate on the remaining portion at half the average long-term interest rates. Do the math, and net financing cost could be 25% of comparable land sales having no SLR financed at higher historical rates.
Do you say it cannot get better? It can! Starting Bids on these three quarters are all significantly below what land nearby has sold for in recent years. Buy one of these Parcels for little more than what a large estate lot near an urban centre may sell for. If you’re that person looking to move your family out of the City, your morning drive to work in the Clairmont Industrial area or to the north side of Grande Prairie is merely a few minutes. Take advantage of the state-of-art-schooling and recreational facilities in Sexsmith.
[https://clhbidstorage.blob.core.windows.net/documents/Auctions/9569549d-211d-4370-8c28-08d8657d624f/TinyMCEPictures/396704b6-6eaa-4d33-898f-676aca995ced.jpg]Parcel 1, 2 and 3 are approximately 135, 146 and 126 acres respectively. Each quarter is that solid hook only minutes from a large urban centre which, at the end of the day, means deep-rooted demand if you ever wish to sell.
The 3 parcels will be sold using the CLHbid.com 'en bloc' platform such that at the end of the sale, if you meet specific requirements to bid 'en bloc', you may potentially purchase all 3 parcels.
See below for information on the proposed new subdivision plan for Parcel 1.
Please review the Purchase Agreement in the Parcel Details section to see the specifics of the offer.
‘Three-Point Hitch’ will be offered for sale by online electronic tender by CLHbid.com. Check the website for updates from time to time.
Parcel 1 Proposed Subdivision Plan: Click to view
En Bloc Details: Click to view
SLR Details: Parcel 1 Parcel 2 Parcel 3
Three-Point Hitch 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 info@clhbid.com 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.
Proven Results
from satisfied buyers
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.
PLEASE NOTE: Not all CLHbid.com sales have an ‘en bloc’. Please review the particulars of each sale for clarity.
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.
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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.
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