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Owner solicited offers as a whole tract sale.
Best offer $1,600,000
At the auction, 96 bidders pushed the price to $3,600,000
The
purchaser outbid all the others to keep it together. It was the same person that made the $1.6M offer earlier.
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Seller sought $1,000,000 on all 335 acres.
Auction produced $1,600,000 on 205 acres.
Seller kept 130 acres for himself.
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7 buyers
175% of MAI appraisal
24 rounds of bidding
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Auction achieved twice the appraisal.
5 individual buyers
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Owner achieved 175% of appraisal.
Property divided into 16 parcels yielded 7 purchasers.
All the closings held on one day
Survey and
closing cost paid by purchaser.
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Family estate wanted $275,000.
Auction results $475,000
3 closings
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