Four hundred acres in Frazee to be auctioned off live on May 4; total assessed value near $1.4 million
More than 400 acres of farm land, homesteads and outbuildings in Frazee, Minnesota will be auctioned off live on May 4 beginning at 10 a.m. during an event hosted by Bachmann Auctioneers of Perham. The total 2022 assessed value of the six land parcels is $1,391,800.
DETROIT LAKES — More than 400 acres of land in rural Frazee is about to be auctioned off to the highest bidder on May 4.
Bachmann Auctioneers, of Perham, will be holding six live-auction events on May 4 beginning at 10 a.m. to sell the parcels of land, which hold a 2022 assessed value of $1,391,800. Vince Bachmann, co-owner of Bachmann Auctioneers, said the properties in rural Frazee were owned by members of the Amish community.
"We've sold bigger tracts before, as far as property goes, but on (May 4) there are four farms involved and six tracts, so that's kind of unusual, you don't see that everyday," said Bachmann. "I don't know if we've ever done four farms in one day before, I can't say that I have."
He also said he believes there is going to be "quite a lot" of interest based on how quickly their flyers for the event are disappearing.
"I don't know what to tell you, sometimes we hit a home run on them, and sometimes it doesn't work," he said.
However, he added, with the current land valuations and market conditions, he believes the properties will "bring what they are worth."
All six parcels are located in rural Frazee and range from a 17-acre parcel with a homestead and multiple out-buildings to a 142-acre parcel of farm, pasture and hunting land.
The first farm, located at 16195 440th Avenue, was broken into two separate parcels. One features 68 acres of farm, pasture and hunting land and the second parcel includes 40 acres with a multiple-bedroom home and multiple outbuildings. The 2022 total assessed value of both parcels is $361,600. Bidding will begin on-site at 10 a.m. on May 4.
The second farm, located at: 40226 160th Street, features a homestead, multiple outbuildings and 60 acres of land with about 43 tillable acres. The 2022 total assessed value of the property is $269,600. Bidding for this property will begin on-site at 11:30 a.m. on May 4.
The third property is the largest and is broken down into three parcels by the owner, at two different locations on Highway 87. Two parcels are located at 43468 Highway 87, and include a 77-acre parcel of farm, pasture and hunting land and a second parcel of 17 acres, featuring a homestead and multiple outbuildings.
The third parcel for sale by the same owner is located at 40789 Highway 87. This parcel is the largest of the six available for bid and includes 142 acres of land (about 84 acres tillable), a homestead that "needs work," and large outbuildings.
Bachmann thinks more land sales could be moving to auctions in the future because instead of listing a property and usually negotiating downward with the seller, at an auction the price only goes up.
"You're negotiating up, not down," he said. "That is huge. We list property too and try to sell it traditionally ... but I'll tell you what, the auction method is just fast and easy, and there is no moving around, if you want it, you better bid on it."