25.95 +/- Acres E Eighth Ave Kingman, KS 67068

Property offered at ONLINE ONLY auction. BIDDING OPENS: Tuesday, June 16th, 2022 at 2 PM (cst) | BIDDING CLOSING: Friday, July 1st, 2022 at 2:30 PM (cst). Bidding will remain open on this property until 1 minute has passed without receiving a bid. Property available to preview by appointment. CLEAR TITLE AT CLOSING, NO BACK TAXES. ONLINE ONLY!!! Bidding is by the acre, please review the disclosures section for definition. If you have been looking for acreage to build your dream property this 26+/- acres is for you. Located directly outside of Kingman on 8th St only 1 mile east of S Main St the acreage gives you the benefits of being close to town without sacrificing the county feel. This land features a well-built shed building, gas well, tree cover, rolling topography, electrical access, and more. All while offering unlimited potential and presenting an opportunity that would be perfect for anyone looking to build or invest in land. There is a current and active gas lease operating on the land that is generating a royalty income. The mineral rights to this land to transfer to the new buyer and the buyer will receive a portion of that income. The portion they will receive will be determined based upon how much acreage they purchase and the percentage that the acreage makes up of the entire land the lease is on. The royalty is a 1/8 royalty that has historically been producing payments to the owner of $750+/- a month, please note that this will fluctuate with current market prices for natural gas. If you have any questions, please contact the auction manager Please see supporting documents for gas well information. 25.946 acres Rolling topography Trees Shed building Open sided shed Electrical access Water well Income producing gas well 8th St Road frontage 1 mile east of S Main St Zoned Agricultural There is a well present at the property; however, Kingman County waived the inspection requirement because the parcel is vacant and does not currently include a residence. If a residence is built on the property in the future, the prospective owner will be required to have any well and/or wastewater systems inspected and to comply with all Kingman County requirements. Taxes on the individual parcels will be estimated at closing as final amounts will not be available until such time as the lot split is finalized. Please see survey to reference parcels, Parcel 2 is not offered for auction. Definition of 'selling by the acre: A method of sale often used for agricultural or undeveloped acreage in which bids are made based on a per acre price. By way of example, if a 160 acre parcel was offered “by the acre” the high bid may be $5,000 an acre. That amount would then be multiplied times the total acreage to arrive at a total sales price if $800,000. For the purposes of calculating the total sales price, the acreage will be rounded to the nearest whole acre. For example, a parcel with 158.7 acres would be offered as 159 acres. *Buyer should verify school assignments as they are subject to change. The real estate is offered at public auction in its present, “as is where is” condition and is accepted by the buyer without any expressed or implied warranties or representations from the seller or seller’s agents. Full auction terms and conditions provided in the Property Information Packet. Total purchase price will include a 10% buyer’s premium ($1,500.00 minimum) added to the final bid. Property available to preview by appointment. Earnest money is due from the high bidder at the auction in the form of cash, check, or immediately available, certified funds in the amount $10,000.