#000 • CLOSING & RECORDING

Part of 3 Parcels | KPB 2026 Land Auction (Online Only) (timed auction by Alaska Premier Auctions & Appraisals)

Status: Available

Closing and recording Online winning bidders must sign their purchase agreements on Tuesday, November 17, 2026. No parcels in this auction are eligible for the Land Affordability Program. No buyer premium. Seller financing available with KPB credit approval. Review your down payment, closing and recording requirements below. Interested bidders are encouraged to obtain an owner’s policy of title insurance at buyer’s expense. If a buyer desires to obtain a preliminary commitment for title insurance or title insurance on the land, it shall be the buyer's responsibility to obtain and pay for such commitment or insurance. Per the 2026 brochure, title insurance is required for online winning bidders, KPB-financed sales, and/or POA transactions, and will be paid by the buyer. Standard down payment (2026 brochure): 10% of the winning bid or $1,500, whichever is greater, of which $500 is a non-refundable review fee. Online winners: submit down payment by cashier’s check or wire directly to Stewart Title of the Kenai Peninsula within five (5) business days of the sale. All online winning bidders must close through Stewart Title of the Kenai Peninsula. Winning bidders must indicate if title insurance is desired (where optional) and the financial option selected to close the transaction. Option A. "All Cash": Winning bidder(s) will pay cash (in the form of a cashier’s check or wire) at closing, including the balance of the winning bid amount plus closing costs. The down payment will be held by the KPB (unless otherwise designated by KPB) and credited towards the purchase price. Option B. "Financed": Winning bidder(s) will pay the required down payment. Upon credit approval, the balance will be financed by KPB. The winning bidder(s) shall execute a deed of trust and note, secured by the property sold, in favor of KPB. The note for initial principal amount will be payable in 120 equal monthly payments (ten years), at the U.S. Prime Rate plus two percent (2%), with Prime set prior to commencement of the online-only auction. The deposit will be held by the KPB (unless otherwise designated by KPB) and credited towards the purchase price. The buyer shall be responsible for paying all closing costs which may include, without limitation: recording fees, document preparation fees, mortgagee's title insurance policy (if sale is financed by KPB), owner's policy of title insurance (if required or requested by buyer), all long term escrow fees, and any other fees associated with the closing process and financial option selected. If purchaser should fail to meet any and all terms and conditions contained in the purchase agreement, KPB may retain the $500 review fee and up to $1,000.00 as liquidated damages per the 2026 brochure / PA. Any amounts due to the purchaser will be deducted from their down payment and returned to purchaser only after deposited funds have been verified as cleared by KPB. Please review the purchase and sale agreement for additional details. All parcels shall be conveyed by Quitclaim Deed (2026 brochure), subject to reservations, exceptions, easements, rights-of-way, covenants, conditions and restrictions of record or created by operation of law; governmental regulations; applicable general conditions in KPB 17.10.240; and matters disclosed by inspection or survey. For Gray Cliff parcel 02533008, the deed expressly reserves subsurface mineral interests to KPB. Closing must occur within 90 days of KPB execution of the purchase and sale agreement and confirmed receipt of the deposit, unless otherwise agreed in writing by KPB and the buyer.