SDREC.AUCTLIST-B/P – 2010 Page 2 of 3
7. TAXES/PRORATIONS. Purchaser is aware that property taxes may or may not be based upon “Owner 50
Occupied Status”. Any and all Special Assessments are to be paid by Seller unless otherwise specified in 51
this agreement. 52
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Taxes, rents, road maintenance, water, sewer, and homeowner’s association fees, if any are: 54
To be prorated to _____________________________ 55
Not to be prorated 56
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Tax proration will be based upon the: previous year’s taxes / agreed upon amount of ___________ / 58
most current county information / new construction estimate other __________________________ 59
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8. TITLE. Merchantable title shall be conveyed by Warranty Deed or other sufficient conveyance instrument, 62
acceptable to Purchaser, subject to conditions, zoning, restrictions, and easements of record, if any, which 63
do not interfere with or restrict the existing use of the property. An owner's policy of Title Insurance in the 64
amount of the purchase price will be furnished with cost to be distributed: Purchaser______ Seller______. 65
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9. SURVEY. Seller ___ is ___ is not providing a boundary survey of the property. Property is sold based on 67
legal description only. Seller is not aware of any boundary disputes. Seller further states that any fences 68
located on the property do not necessarily represent the property boundary 69
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10. CLOSING/POSSESSION. Closing date will be on or before ____________________ with possession to 71
be given Purchaser at time of closing. Seller agrees to maintain the property in a condition comparable to 72
its present condition and agrees that Purchaser will have the opportunity for a personal inspection prior 73
to closing. Seller agrees to maintain all existing insurance coverage on property until time of closing. 74
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Closing service fees, if any, cost to be distributed as follows: Purchaser_________ Seller___________. 76
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All personal property, including refuse, not included in the purchase price, shall be removed by Seller prior 78
to closing. 79
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11. EARNEST MONEY/DEPOSITS. Auctioneer or Auctioneer’s authorized closing agent shall deposit and 81
hold all earnest money and other deposits until sale is closed. If Auctioneer is holding the earnest money 82
and an accepted offer and agreement to purchase does not close, regardless of the circumstances, both 83
Purchaser and Seller must agree in writing prior to release of earnest money or in the alternative, pursuant 84
to court order in accordance with SDCL 36-21A-81. 85
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12. PERSONAL PROPERTY. Any personal property, free of liens and without warranty of condition, shall 87
be transferred to Purchaser by a separate bill of sale. Purchaser will / will not compensate Seller for 88
fuel oil/propane remaining on date of closing. 89
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14. OTHER PROVISIONS: _________________________________________________________________ 91
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INITIALS: PURCHASER________/________SELLER________/_________ 100
