Dry Canyon Parcel (C-26964)

Dry Canyon Parcel (C-26964)

Auction Date:
September 14 2021
Minimum Bid:
Minimum Acceptable Price is $515,000.00 PROPERTY SOLD FOR $515,000.00
County:
Iron County
Acres:
480.00 Acres, More or Less
General Information

What are trust lands?

Trust lands are parcels of land granted by Congress to Utah at statehood to support specific beneficiaries, including public schools, universities, hospitals, and reservoirs.  Trust lands are not public lands, but are generally open for public use, when possible.  Trust lands were allocated specifically to generate revenue to support our beneficiaries.  SITLA currently manages 3.4 million surface acres on behalf of our beneficiaries.

ONLINE BIDDING INFORMATION:

Bid Start Time for this Parcel:  9:20am MT, September 8, 2021
Bid End Time for this Parcel:  10:50am MT, September 14, 2021

  • For step by step instructions to pre-register as a bidder, please click here.
  • For a link to this parcel on the auction website where you can place bids or view the auction, please click here.

CLOSING COSTS:

The closing costs are in addition to the 10% down payment.  The cultural resources survey costs may be financed, upon approval.  All other closing costs are due from the prevailing bidder at the auction and cannot be financed.

Appraisal Costs: $2,000.00
Cultural Resources Survey: $8,203.20
Legal Advertising Cost: $100.00
Sale Processing Charge: $500.00
Application Fee: $250.00
TOTAL CLOSING COSTS: $11,053.20

Video:

Beneficiary:

The net proceeds from the sale of this property will be deposited into the permanent fund for the beneficiary of Public Schools.

Legal Description:

Township 34 South, Range 8 West, SLB&M
Section 32:  E2, SW4

Location:

The property is located just to the southeast of the community of Parowan, Utah – east of Highway 20 and north of Bowery Creek Road.

Access:

The parcel is accessed by a dirt road through Dry Canyon.

Additional Information:

This L-shaped parcel has very irregular terrain, including mountainous ground as well as Dry Canyon, which runs through the northeast corner of the property.  The vegetation is varied and includes some larger trees.

Acreage:

480.00 Acres, More or Less

Water Rights:

Water Right No. 75-854 for stock watering of 200 head of livestock on Dry Canyon Creek will be included with the property.

Utilities:

No utilities are located on site

Zoning:

A-20 (Agricultural use with a 20 acre minimum lot size)

Financing:

Financing will be offered for this parcel at a variable interest rate of prime plus 2.5% or 7.5%, whichever is greater.  A down payment of 10% and closing costs will be due at the auction.  The remaining balance can be financed for up to a 20 year term.

Encumbrances

Mineral Leases:

None

Surface Leases:

  1. Predesignation No. 872, issued to Iron County for Class D roads which are valid existing rights
  2. Grazing Permit No. 23245-21, issued to the Division of Wildlife Resources (this property will be deleted from this permit when sold)

Cultural Resource Covenant:

A cultural resource survey was conducted on this parcel.  No significant sites were identified.  The parcel will be sold without any cultural reservations.

Disclosure and Contact

Disclosures:

  1. Please see the disclosure summary and the certificate of sale template document posted at the bottom of this page for general disclosures which apply to all parcels being offered for sale at this auction.
  2. All mineral rights will be reserved.
  3. The sand and gravel on the parcel will be subject to a royalty provision if sold commercially.
  4. The Utah Geological Survey (UGS) has commented:  “Potential geologic hazards in the area that could affect the property include flash flooding/debris flow, landslides and/or landslide susceptible bedrock, earthquake hazards associated with Quaternary faults in the region, problem soils and/or rock including shrink/swell, and/or collapsible, shallow bedrock, and indoor radon potential. Prospective users should be aware of the potential hazards so they can be addressed in a manner appropriate to the intended use of the property. UGS has general geologic hazard information available at its offices and online at: http://geology.utah.gov/utahgeo/hazards/index.htm”.
  5. The property will be conveyed subject to all valid existing rights.

Contact for Additional Information:

Diane Lund
Sales Coordinator
dlund@utah.gov
(877) 526-3725 or (801) 538-5163

Ron Torgerson
Resource Specialist
rgtorgerson@utah.gov
(435) 893-2980

more info

(Click on Photos for Larger View)

maps

(Click on Map for Larger View)