Ibapah – Cold Spring (C-27057)

Ibapah – Cold Spring (C-27057)

Auction Date:
June 7 2022
Minimum Bid:
Minimum Acceptable Price is $31,000.00 SOLD for $50,250.00
County:
Tooele County
Acres:
40.00 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: 8:10am MDT, June 1, 2022
Bid End Time for this Parcel:  10:10am MDT, June 7, 2022

  • For step by step instructions to pre-register as a bidder, please click here.
  • For the auction page to view or place a bid, 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: $2,800.00
Cultural Resources Survey: $800.00
Legal Advertising Cost: $200.00
Sale Processing Charge: $500.00
Application Fee: $250.00
TOTAL CLOSING COSTS: $4,550.00

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 10 South, Range 19 West, SLB&M
Section 12:  NW4NW4

Location:

The parcel is located in Tooele County – 5 miles south of the town of Ibapah and 60 miles south of Wendover.

Access:

The property is accessed from Cold Spring Road, which runs diagonally through the property.

Additional Information:

The parcel is surrounded by private land to the east and south and BLM land to the north and west.  The terrain is gentle sloping and is within the foothills of the Deep Creek Range.  The vegetation consists of pinyon and juniper trees and native brush and grasses.

Acreage:

40.00 Acres, More or Less

Water Rights:

None

Utilities:

No utilities are located on the property.

Zoning:

MU-40 (Multiple Use)

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. Easement No. 2518, issued to Tooele County for Cold Springs Road for a perpetual term
  2. Grazing Permit No. 22172-08, issued to Kyle W. Bateman (the land sold will be deleted from the permit)

Cultural Resource Covenant:

A cultural resource survey was conducted on this parcel.  No significant sites were identified and the property will be sold without any cultural or historical protective deed covenants.

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 has submitted the following comment:  “Potential geologic hazards in the area that could affect the parcels include seasonal flooding, flash flooding/debris flow, problem soils including shrink/swell and/or collapsible, and indoor radon potential. Prospective buyers 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
Resource Specialist
dlund@utah.gov
(877) 526-3725 or (801) 538-5163

more info

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