Buyers are welcome to visit the property prior to placing a bid if they are able to. We are not based in the local area though, so no one will be there to meet you. Buyers do so at their own risk. It is highly recommended that interested bidders arrange for an external inspection personally or through a designated and that they contact the county or city in which the property is located to confirm the status of the property. All potential real estate bidders are reminded that it is your responsibility to complete all due diligence needed to determine the condition, market value, or investment value of this asset prior to placing a bid. By placing a bid, you acknowledge that any statements made by the seller about the condition or market value of the property are subjective, and do not release you from your responsibility to perform due diligence. Additionally, buyers acknowledge and agree that the seller and any representatives thereof shall not be held liable for any accidents, injuries, or damages that may occur during or as a result of the property visit. Buyers enter the property at their own risk and are responsible for their own safety.

Closing Instructions for Buyer

GovDeals

1. Selection of Closing Agent Upon receipt of bids and determination of the successful bid, the

AGFC Real Estate Division will select a licensed Arkansas title company to serve as the closing

agent. You will be notified of the chosen title company within five (5) business days of the

auction closure.

2. Funds and Escrow All funds collected through GovDeals will be conveyed to AGFC and

held in escrow by the selected title company. Buyer will be notified within two (2) business days

upon funds received and deposited at the title company.

3. Timeline and Completion Closing must be completed within 120 days of the execution of the

Contract of Sale, unless changed by mutual agreement between AGFC and the buyer.

4. Performance and Forfeiture AGFC will execute and deliver a Special Warranty Deed or

General Warranty Deed conveying the lands upon successful completion of all terms in the

Contract of Sale and due diligence of selected title company.

Note: Should the buyer be unable to complete the transaction according to the terms of the

Contract of Sale, the buyer’s cashier’s check or auction payment (equal to 1/10th of the bid

price) shall be forfeited as liquidated damages. The remaining funds will be returned to the buyer

within twenty (20) business days from notice of contract cancellation.

5. Due Diligence and Property Condition The property is sold "as-is." The Buyer accepts the

Property in its present condition and state of repair. The Buyer is responsible for conducting all

necessary due diligence, including property inspections, surveys, and reviews of title

commitments prior to closing. The Buyer releases and waives all claims against AGFC, its

Commissioners, and employees regarding the condition of the Property.

6. Next Steps and Cooperation Once the title company is assigned, the buyer will receive an

introductory email with a request for information; please respond promptly to avoid delays. The

buyer agrees to cooperate with the title company to execute any necessary correction documents

required to finalize the transaction.

7. Legal Disclaimers

● Conflict: These instructions are subject to the governing Contract of Sale. In the event of

any conflict, the Contract of Sale shall prevail.

● Indemnification: The Buyer agrees to indemnify, defend, and hold harmless AGFC from

any and all claims, liabilities, or expenses arising from the Buyer’s performance or failure

to perform under these instructions.

● Immunity: Nothing herein shall be construed as a waiver of AGFC’s sovereign

immunity. To the extent applicable, the Arkansas Recreational Use Statute (A.C.A. §§

18-11-304 through 18-11-306) shall apply to any use of the property by the Buyer or their

agents only until the transfer of fee simple ownership. Upon the transfer of fee simple

ownership to the Buyer, the protections afforded by this statute shall no longer apply.

NOTICE: If you are the winning bidder and default by failing to adhere to this seller's terms and conditions, your account with Liquidity Services WILL BE LOCKED.

Guaranty Waiver: All property is offered for sale “AS IS, WHERE IS.” (Seller) makes no warranty, guaranty or representation of any kind, expressed or implied, as to the merchantability or fitness for any purpose of the property offered for sale. Please note that upon closing of the property, all sales are final.