West Fayette Parcel (C-26987)

West Fayette Parcel (C-26987)

Auction Date:
November 10 2021
Minimum Bid:
Minimum Acceptable Price is $46,500.00 SOLD for $57,500.00
County:
Sanpete 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:  10am (MT) November 4, 2021
Bid End Time for this Parcel:  11:30am (MT) November 10, 2021

  • For step by step instructions to pre-register as a bidder, please click here.
  • For the auction page to view and place a bid, please click here.

 

Video of the Property:

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.

Cultural Resources Survey: $1,298.44
Appraisal Costs: $1,600.00
Advertising Costs: $200.00
Sale Processing Charge: $500.00
Application Fee: $250.00
TOTAL CLOSING COSTS: $3,848.44

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 18 South, Range 1 West, SLB&M
Section 21:  NW4SE4

Location:

The property is located on the southwest side of Yuba Reservoir, about 3 miles west of the town of Fayette.
Latitude: 39.22676
Longitude:  -111.922672

Access:

Legal and physical access to the property is from a gravel county-claimed road.

Additional Information:

The topography of the parcel is sloping from east to west with rolling hills.  Vegetation is mostly sage brush and native grasses with some scattered Pinyon Juniper trees.  The Piute Canal cuts through the property.

Acreage:

40.00 Acres, More or Less

Water Rights:

No water rights will be included with this property.

Utilities:

Utilities are located near the parcel.

Zoning:

SL (with a 5 acre minimum to build)

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. 2291, issued to Sanpete County for Class D roads with a perpetual term
  2. Grazing Permit No. 20617-10, issued to John D. Bown (this acreage will be deleted from the permit when the property is 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 property will be conveyed subject to all valid existing rights.
  5. The Utah Geological Survey (UGS) has submitted the following comments:  “Potential geologic hazards in the area that could affect the parcels include flash flooding/debris flow, problem soils including shrink/swell and/or collapsible, shallow groundwater, ground shaking and liquefaction potential associated with the Wasatch Fault zone, 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.”

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

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