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I will try and keep this short and simple. There was a death in the family leaving property to 4 beneficiaries. They choose to auction off the land in 3 sections at different sizes and in a certain order, thinking that the first 2 larger sales could bring in enough money to buy the 3rd, smallest, piece for on of the families.
The day of the auction, the auctioneer runs the properties in reverse. The price of the smallest part is ran up by the future purchaser to the tune of 22k per acre. after the next 2 sales its time to pay up. The "professional" land buyer tells the auction company that they were confused on the price and thought it was 22 k for the section of land and not per acre. at that point the company asks him what he would like to pay. his response was 8k per and that was final. So the other people who had made bids up to the 20 and 21k weren't even considered.
Now after being questioned about this and digging into it ,the buyer { Who bought all 3 lots} has a history and connections with the company running the sale. Some might go as far as saying business partners.
When the lawsuit started the company has big shot lawyers from the twin cities come out to rural MN and intimidate the original owners. And their Lawyer just happens to be out of town the day of trial. And whos wife was seen sending 2 large sums of money overseas, "offshore"
How does one go about this? I would say at the very least it would be a void contract due to the 22k turning into 8k with no other questions. At most this was a criminal conspiracy for financial gain. But the family is apprehensive to fight it due the the threats of long court battle and legal fees.
Sorry for the length and rambling, but any insight or opinions would be appreciated. Thank you.
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