Veteran Legacy
Selling on October 10, 2024
from 3:00 PM to 4:00 PM UTC
Location
Belloy, AB
Sale Size
3 Parcels, 1 En Bloc
Starting Bids
$500K - $500K
With a total of 945 Acres, these six quarters are selling as 3 Parcels located less than 6 miles NE of Belloy, Alberta. This is well-drained land with few rocks; good honest land that looked after its prior owner for decades. The low starting bids are set at a fraction of recent sales to the east to allow the market to set the price. An opportunity exists to purchase all Parcels ‘en bloc’ at the end of the sale. See Parcel Details for Starting Bids.
With a total of 945 Acres, these six quarters are selling as 3 Parcels located less than 6 miles NE of Belloy, Alberta. This is well-drained land with few rocks; good honest land that looked after its prior owner for decades. The low starting bids are set at a fraction of recent sales to the east to allow the market to set the price. An opportunity exists to purchase all Parcels ‘en bloc’ at the end of the sale. See Parcel Details for Starting Bids.
Available Parcels
En Bloc Name En Bloc | En Bloc Size 945 ± Acres | Starting Bid $100,000 | View En Bloc |
Parcel Name Parcel 1 | Parcel Size 318 ± Acres | Starting Bid $500,000 | View Details & Offer |
Parcel Name Parcel 2 | Parcel Size 327 ± Acres | Starting Bid $500,000 | View Details & Offer |
Parcel Name Parcel 3 | Parcel Size 300 ± Acres | Starting Bid $500,000 | View Details & Offer |
Sale Description
Six quarter-sections with a combined total of 945 acres are being sold as 3 Parcels located less than 6 miles northeast of Belloy, Alberta. This is well-drained land that is virtually rock free; good, honest land that has continuously looked after its prior owners for decades. To allow the market to set the price, the Starting Bids are set low and at a fraction of the price recent sales to the east of ‘Veteran Legacy’ have sold for.
Veteran Legacy - Parcel 2
Virgin land some eighty years ago, ‘Veteran Legacy’ was initially part of the Lassiter Project that involved selling partially broken land to World War II Veterans in recognition of their service to our country. Windbreaks along the east side of the half-sections remain a testament to how the land was cleared back then. The new owner will never have an issue sourcing strong markets for products with Rycroft, the Inland Grain Terminal Capital of Alberta, located a mere 20 miles to the southwest.
‘Veteran Legacy’ checks all the boxes: wide-open farmland situated in one of the more progressive regions in Northern Alberta. Yet, it offers solitude and appreciation for nature with the expansive Burnt River valley abutting to the north. When the crop is in and the spraying is behind you, spend some time with the family enjoying the serenity of hiking or riding horseback down in the valley. If you’re looking to build your farmstead at the end of a dead-end road, Parcel 1, which was originally the homestead, speaks to that perfect location away from the hustle and bustle to the south.
Veteran Legacy - Parcel 1
At CLHbid.com, we believe in a fair and inclusive sale process and an opportunity exists to purchase all three Parcels ‘en bloc' at the end of the sale. This unique feature assures any bidder going to the 'en bloc' round that they will either end up owning all six quarters or none. This eliminates the risk of travelling a significant distance to farm just two quarters. If you want to buy all 6 quarters, you have two routes to get there: you can be a high bidder on each of the three Parcels in the first round or take the 'en bloc’ route to the second round.
At CLHbid.com, we respect community and neighbours, and with that, bidders' names are never disclosed, even to the Seller. Bid with confidence knowing that your name will never get out unless you become the new owner, and it appears on the Birch Hills Landownership map. As a bonus, check out the significant Surface Lease Revenue offered by ‘Veteran Legacy’.
Veteran Legacy 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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