Bidding is OPEN NOW!

Auction End Date: 5/20/2023 — This online only auction features a residential lake lot at Bull Shoals Lake in Arkansas. Absolute auction – NO reserve!
This property will sell to the highest bidder.

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SOLD

This is a very nice residential building lot in a quiet community on south shores of Bull Shoals Lake.
It’s near the water, just a few blocks south of the marina, and few blocks north of the golf course. It’s a
perfect place to build a full time home, a vacation getaway, or a relaxing retirement.

Auction type: Absolute – No Reserve
Property Type: Residential Home Site
Address: W Somonauk Drive
Property ID: 775-00733-000
Public roads: yes
Utilities Available: Electric, Water, Sewer, Gas, Cable, Phone, Internet, Propane
Size: 120′ x 70′
Property Taxes: $35.71 per year (paid current)
HOA/POA Fees: None
Restrictions: No mobile homes. Min home size 1,000 sq ft.
Estimated Value: $25,000

See the Documents tab for a downloadable bid package, title report, and Broker Participation form (if you have a broker bidding for you).

NOTE: You do not have to travel to close/purchase this property. All closings accommodate non-local buyers and sellers. Please see FAQ for more information.

Airports
Diamond City has an airstrip for private aircraft. Nearby large commercial carrier access: Branson Airport (BKG), Springfield-Branson National Airport (SGF), and Northwest Arkansas Regional Airport (XNA). Non-stop flights across the country are readily available. Major airlines include Delta, American Airlines, United Airlines, Southwest, Allegiant, Frontier, Breeze, etc.

NOTE: If you have additional questions about this specific online-only auction that are not addressed in this listing, please do not call our office. Use the “Contact Us” tab above. It allows us to serve your needs more efficiently, ensures that the correct auction is addressed, and provides a written record for your use.

Diamond City Map


This property is located in Diamond City, Arkansas, a comfortable community nestled on the south shore of Bull Shoals Lake on the Arkansas/Missouri state line. Diamond City is actually a peninsula surrounded by the lake on three sides, located at the end of historic scenic Highway 7. It’s the perfect place to raise a family or keep for a cabin hideaway, lake retreat, or retirement home. Enjoy all of the opportunities living on the lake provides, meet friends at one of the fine restaurants, or go play a round of golf at the Diamond Hills Country Club. There are several points of access to the lake, including a marina just a few blocks away at the end of the peninsula.

For additional shopping or entertainment opportunities, Branson, Missouri and Harrison, Arkansas are nearby. Harrison has once again been named one of the 100 best towns in the U.S. in which to live in a report released by Prentice Hall. The rating is based on important quality of life criteria, including living costs, medical facilities, climate, recreational opportunities, and educational opportunities. Of course, everyone knows about Branson! Branson is one of the nation’s most popular family vacation destinations. It’s an entertainment and vacation hotspot with visitors from all over the United States and the world.


For a larger metropolitan experience, Northern Arkansas is home to the Fayetteville-Rogers-Bentonville metro…one of the fastest growing regions in the nation. Home to Wal-Mart, JB Hunt, Tyson Foods, and many more business titans. The population growth in this area bodes very well for future property values, particularly vacation-type properties where folks can get away from the hustle and bustle of city life. Additionally, Springfield, Missouri is also nearby.


The Bull Shoals Lake area is truly the heart of the Ozarks. With its location and close proximity to larger cities, everything one could want is within reach. The Ozark Mountain Region is proud of its reputation as an ideal home for families, businesses, and retirees. The quality of life in this area is truly exceptional. The region boasts cities that provide all modern conveniences, excellent health care, high quality educational opportunities, while retaining access to plenty of outdoor and indoor recreation and entertainment. The charm and benefits of small town living are preserved through community activities and family oriented festivals. The beautiful Buffalo National River and the White River Lakes system provide unlimited opportunities for recreation.

The U.S. Department of Interior named the Ozark Mountain Region as one of the seven most desirable places to live in the United States, due to its clear air and abundant clean water.          
                            Bull Shoals Lake is definitely not a small pond in a retirement/resort community. Its waters spill into 5 separate counties in Arkansas and Missouri. It’s a major waterway maintained by the U.S. Corp of Engineers and is one in a chain of major Midwest lakes forming the White River Lake System.
Bull Shoals Lake is a water sports paradise. The clean waters attract fishermen and fisherwomen, scuba divers, boaters, and swimmers during the long warm-weather season of northern Arkansas/Southern Missouri. The largest of the Ozark Twin Lakes, Bull Shoals Lake is a favorite family, fishing, and group vacation destination. Created by damming the White River, this magnificent body of clear blue water is surrounded by 1,000 miles of beautiful mountain shoreline. Glass smooth surfaces make Bull Shoal Lake perfect for clear water skiing and wake boarding. The lake’s incredible visibility for scuba diving has earned it the title, “The Caribbean of the Midwest“. Enjoy sailing, skiing, and boating on the hundreds of miles of lake arms and coves. With over 72,100 acres of water surface, Bull Shoals Lake provides a lifetime of exploration.
The White River is also a well known world class trout fishery. Fly fishing at its finest is available all up and down the river and in the tail waters of its lakes. Brown, rainbow, and cutthroat trout are found in both size and abundance. The deep lakes provide year round cold water current throughout the river creating excellent habitat for all species of trout. 		       
                              


Bid_PackageDownload
titlereportDownload
Broker-Registration-PDF-FormDownload
Note-To-InvestorsDownload

AUCTION TERMS AND CONDITIONS

BIDDER VERIFICATION: By registering for a bidder account, Bidder agrees and acknowledges that Bidder is personally and solely responsible for any bids placed on the auction site using his or her account, whether bidding on behalf of a personal account or on behalf of a corporation or other third party. If bidding on behalf of a third party, Bidder is responsible for obtaining the necessary documentation authorizing Bidder to bid on behalf of the third party. Prior to bidding on any auction, Bidder agrees to provide Auctioneer with current and actual contact information, including first and last name, current address, and valid phone number.  Auctioneer, at its sole discretion, may accept or reject any bidder for any reason, including providing false identity or incorrect contact information. Prior to bidding on any auction, Bidder agrees to read the information contained in the Bid Package, the auction page, and all other information provided by Auctioneer.  Bidder agrees not to participate or bid in any auction without having read and understood the information contained therein. The identity of all bidders will be and must be verified (via phone, email or text). Bidding rights are provisional. If complete verification is not possible, Ozarks Auction Company LLC will reject the registration, and bidding activity will be terminated. The Auctioneer and Sellers reserve the right to preclude any person from bidding for any reason.

BIDDING:  Bidder agrees that all bids are legally binding and cannot be retracted. The method, order of sale, and bidding increments shall be at the sole discretion of the auctioneer. The auctioneer has the authority and sole and absolute discretion to deviate from, change, alter, or modify the bidding procedures and conduct of the auction at any time including after commencement of the auction. All decisions of the Auctioneer are final. As used in these conditions of sale the term “the final bid” means the highest bid acknowledged by the auctioneer, and the term “purchase price” means the sum of the final bid and the buyer’s premium, if applicable. The highest bidder acknowledged by the auctioneer shall be the buyer. The auctioneer has the right to reject any bid for any reason. The auctioneer may advance the bidding at his absolute discretion and, in the event of any dispute between bidders, may determine the successful bidder or re-offer and resell the property in dispute. Should there be any dispute after the sale; record of final sale shall be conclusive. Please contact our offices for information on absentee and or phone bidding.

REAL ESTATE BROKERS/AGENTS: When offered, a fee equal to a specified commission will be paid to any qualified broker who is duly licensed in the same state where the property is located, and whose properly registered client successfully buys and closes on the property. To qualify for a commission the licensed broker/agent must register by completing the Broker Participation Form. A registered broker/agent can only represent one buyer at each auction event. Broker/agent agrees that if the commission is reduced due to negotiations, the commission to the broker shall be 10% of total commission earned. All forms, letters and statements must be received no later than 5:00 P.M. (Central) one day prior to the auction. Commission is contingent upon, and will only be paid, if the Broker Participation Form is received by Ozarks Auction Company LLC no later than 5:00 P.M. (Central) one day prior to the auction. In addition, if the auction is held a live and in-person, agents must also attend the auction with their prospects and adhere to all terms.

PROPERTY INSPECTIONS AND VIEWING: We encourage all prospective bidders to view the property prior to bidding. Property inspections are permitted at the bidders expense. Contact us for further information.

PAYMENT: If the final bid is less than $10,001, the full purchase price is due, plus Buyer’s Premium and any other buyer paid expenses, within 3 days of auction end. For final bids higher than $10,000, an amount equal to 10% of the final bid shall serve as deposit and earnest money, and is due within 3 days of auction end, the remaining balance being due within 30 days. Payment instructions will be provided with the purchase agreement. Buyer must submit all payments to Ozarks Auction Company LLC via cashiers check, personal check, corporate check, or wire transfer. If paying in full by personal or corporate check, closing will be delayed 7-14 days to allow time for payment to clear. All returned checks are prosecuted to the maximum extent allowed by law. A returned check does not remove buyer’s obligations under these Terms and Conditions.

CLOSING: At the close of the auction, the successful bidder will be provided the contract package/Purchase Agreement to execute and return to Ozarks Auction Company LLC or the designated closing agent. Documents will be sent electronically to the high bidder’s registered email address or otherwise delivered to the high bidder, who must execute and hand deliver, email, fax or overnight mail back to Ozarks Auction Company LLC or the designated closing agent within 3 days of receipt. If the successful bidder does not execute and return their contract and payment (as noted above) within 3 days of receipt they will be considered in default. This is a legally binding contract.

CLOSING COSTS: Closing costs will be split evenly between Buyer and Seller, estimated to be $125 per side.

BUYER’S PREMIUM: A Buyer’s Premium of 10% of final bid to be added to purchase price.

DEED: Seller(s) shall provide a warranty deed.

POSSESSION: Buyer assumes possession of the property upon closing, with payment in full being made.

REAL ESTATE TAXES: Taxes in Arkansas are due in arrears. Taxes for 2022 are due and payable in 2023. 2022 taxes will be prorated and apportioned to Buyer and Seller accordingly.

ACREAGE AND MEASUREMENTS: All boundaries are approximate and have been estimated based on current legal descriptions, prior surveys, and other available data.

MINERAL RIGHTS: The sale shall include 100% of the mineral rights owned by the Seller.

AGENCY: Ozarks Auction Company LLC and its representatives are exclusive agents of the seller. Buyer acknowledges that this property has, or may have, an agent-owned interest or is, or may be, agent-owned and agrees to participate in the auction under this assumption, whether or not any such interest is actually present. Ozarks Auction Company LLC may act to protect the seller’s reserve, if any, as an agent of the seller, by bidding on behalf of the seller.

DEFAULT: If any conditions contained herein are not complied with by the buyer, Ozarks Auction Company LLC may, in addition to asserting all remedies available by law, including the right to hold defaulting buyer liable for the purchase price, either, a) cancel the sale, retaining as liquidated damages any payments made by such buyer, b) resell the property at public auction or privately on seven days notice to defaulted buyer, or c) take such other action as it deems necessary or appropriate. If Ozarks Auction Company LLC resells the property, the original defaulting buyer shall be liable for the payment of any deficiency between the purchase price and all costs and expenses, the expenses of both sales, reasonable attorney’s fees, commissions, incidental damages and all other charges due. In any event, the buyer’s earnest money deposit and any other monies paid will be retained by Ozarks Auction Company LLC as liquidated damages.

TECHNOLOGY DISCLAIMER: Ozarks Auction Company LLC makes no warranty or guarantee that the online bidding system will function as designed on the day of sale or any other time. If you are not able to place your bid during the live auction, Auctioneer, its affiliates, partners and vendors will not be held liable or responsible for any claim of loss, whether actual or potential, as a result of any technical failure, service disruption, or any other cause that prevents bids from being entered or the website from being accessed at any time.

STATE LAWS AND VENUE: The venue for this auction is located in the State of Missouri. The respective rights and obligations of the parties with respect to the Auction Terms and Conditions of this sale and the conduct of the auction shall by governed and interpreted by the laws of the State of Missouri. By bidding at an auction, whether present in person or by agent, by written bid, telephone or other means, the buyer shall be deemed to have consented to the jurisdiction of the courts of the State of Missouri and the federal courts sitting in such state.

DISCLAIMER AND ABSENCE OF WARRANTIES: Buyer understands and agrees that all property is sold “As Is, Where Is.” Descriptions are provided as a service to to prospective buyers and bidders only and do not constitute a warranty, either expressed or implied. Ozarks Auction Company LLC, it’s employees and representatives, disclaims all responsibility for physical condition or suitability of use for buyers intended purpose. All buyers are responsible for prior inspection of properties on which they bid, and by bidding are deemed to have so inspected the property. Square footage dimensions and acreage are approximate and should be independently verified prior to bidding. Ozarks Auction Company LLC, its agents, employees, representatives, and the sellers assume no liability for errors or omissions in this or any other property listing or advertising or promotional/publicity statements and materials. All information and dimensions were derived from sources believed to be correct, but are not guaranteed. Buyers shall rely on their own information, judgment, and inspection of the property. Placing a bid on the offered property, whether in person, or by agent, by written bid, telephone bid, online bid, or other means, constitutes an agreement by bidder to these conditions of sale.

INFORMATION: Any announcements made the day of the sale or posted on the auction website take precedence over previously provided printed material, written statements, or oral statements.

INDEMNIFICATION: Ozarks Auction Company LLC, its employees, agents, representatives or owners/sellers are not responsible for accidents of any kind, injury, death, or property damage suffered while viewing, inspecting, bidding, visiting, or participating in this auction, whether as a bidder, prospective bidder, agent, guest, or any other person.

If you’ve never bid on one of our online auctions, you will need to register to gain access to bidding. Registration is quick and easy…and free. When you register to bid, you’ll receive a confirmation email. You’ll need to click the link in the email to confirm your registration before you are able to place a bid.

You’ll receive an email notice that you’ve won. Instructions will be provided on how to complete the transaction. Most closings are done remotely and electronically. You’ll receive a purchase agreement to sign, which you will be able to to sign electronically. What happens next can vary – see each auction for specific details. In general, for any high bid amount over $10,000, a 10% deposit is due within 3 days of the auction closing and the remainder at closing in 30-45 days. For high bid amounts below $10,000 the full amount is due within 3 days of auction closing. Once your payment is made, sit back and relax. There’s nothing more for you to do. We take care of everything else. You’ll soon receive the document package from the closing agent and the original deed, already recorded with the county, including all transfer taxes paid.

No. These days, the vast majority of real estate transactions include electronic processing for all or part of the transaction. Unless otherwise specified, all of our real estate closings are no-contact, remote closings. That means that you don’t have to travel for the closing. All documentation is processed electronically, including signatures, just like your tax return. All of the back office work and paper shuffling is handled by the closing agent, including payment of all taxes and transfer fees, recording of the deed into public record, etc. The end result is that you receive the original deed, recorded into public record all taxes and fees paid, in about 14 days. You never have to leave home

Yes, in most cases you can. It is not uncommon for a bidder to want to purchase a property prior to auction. Instructions for making a pre-auction offer are usually included in the bid package. If not, feel free to contact us regarding the property that you’re interested in purchasing. Any agreement to purchase the property prior to auction will need to be made before the auction begins. Once the auction is in progress, the auction must run its course.

Absolutely! In fact, we recommend it. Details on how to view a property prior to bidding are included in each auction listing.

When we list a property for auction, we try to provide all available information. We collect information from the owner/seller, we gather information from the local tax authorities, the county offices, and other sources. We do a complete map and boundary analysis. Depending on the property type, we often have soil surveys, property inspections, flood zone survey, or other studies that might be useful to a buyer. We suggest contacting the same entities and offices that we do in our process – county clerks, state/county/local taxing jurisdictions, surveyors, etc. Although we try to provide everything we know about a property in the bid package, if you do have specific questions, please contact us and we’ll do our best to get answers.

Generally, closing is quick. Prior to the auction, we’ve already done much of the work required to close. The actual document preparation only takes a few days. However, the deed is sent to the appropriate county clerk for recording, so everyone is at the mercy of government speed. In most cases, though, the county offices record and return deeds in 7-10 days. The entire process normally takes 2-3 weeks. We keep you posted every step of the way so you’ll know exactly where we are in the process.