Property Information

016 VC-012

Lea County, NM

New Mexico State Land Office Sealed Bid and Auction Lease Sale

SOLD

Registration Status

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Your Bid Status

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Tract

016 VC-012

Gross Acres

40.00

Net Acres

40.00

Time Remaining

Auction has ended

Start Time

8/13/2019 8:30 AM MDT / 9:30 AM CDT

End Time

8/20/2019 8:30 AM MDT / 9:30 AM CDT

Minimum Bid

$10,000

Total Tract Cost at Minimum Bid

$10,299.20

(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)

Legal Description

T18S, R35E
Sec. 28: NE4SE4

Tract Details

Tract No.

016 VC-012

County, State

Lea, NM

Description

T18S, R35E
Sec. 28: NE4SE4

Net Acres

40.00

Gross Acres

40.00

Rental/Acre (Per Year)

$1.00

Royalty

1/5th

Lease Term

5 Years

Application Fee

$100.00

Lease Terms and Conditions

All bidding and lease sales on NMSLO properties listed on this website shall be subject to the statutes, administrative rules, and other laws of the State of New Mexico, including but not limited to New Mexico Law 1929, Chapter 125, Section B, as amended, and rules and regulations of the State Land Office.

Purchase price includes the lease bonus and 1st year rental: Your bid on a 320 acre tract may be $10,000; if the rental rate on that tract is $1/acre, SLO will apply $320 of your $10,000 to the first year's rental.

PAYMENT FOR ALL WINNING ONLINE LEASES SHALL BE MADE THE DAY OF THE SALE BY WIRE TRANSFER OR IN-PERSON AT THE NEW MEXICO STATE LAND OFFICE for all bonus, rentals and application fees. LATE PAYMENTS WILL BE REJECTED AND NO LEASE WILL BE ISSUED FOR THAT TRACT.

The Buyer's Premium will be paid separately to EnergyNet also by wire transfer payment. The successful bidder will be provided by email from EnergyNet, complete wire transfer payment and closing instructions, including invoices for all funds due at the close of the sale.