This auction is being conducted as per the terms and conditions found in the auction brochure. The property sells as is with a closing on or before December 18th. There is a 1% buyers premium charged to the buyer for Online Bidders... NO BUYER PREMIUM for bidders at the IN-PERSON auction.
Bidders may begin to register online on and after October 1, 2024.
The winning bidder will execute a written contract and place a 10% downpayment on auction day or within 24 hours if the winning bidder is online. Closing will occur by December 18th, 2024, as per the contract.
The Seller will provide a Title Policy in the amount of the purchase price and agrees to provide and execute a proper deed conveying the real estate to the Buyer. The owner agrees to provide merchantable title to the property. Buyers understands and agrees to abide by the restrictions of record. The contract will govern the closing terms of this property.
Seller and the Auctioneer reserve the right in their sole discretion to amend these proceedures/ terms & conditions at or before the auction. The auctioneer has the right to reject any bids and will be the final authority as to thebidding increments. Announcements made by the Auctioneer at the auction will sepersede any prior written or oral information. All bidders understand that any tract may be removed from the auction at any time.
The successful bidder will gain possession at closing.
Auction Date & Location: Martin Auction Services, L.L.C. (“Auctioneer”) will offer the property for sale/ public auction the property listed in this brochure. The Auctioneer will represent the Seller at this event. This auction will take place on Wednesday- October 23rd, 2024 at 10 A.M. at Martin Auction, 9515 Texas Church Rd., Clinton, IL 61727. Auction registration will begin at 9 a.m.
Bidder Registration: All bidders will be required to register to bid at the auction.
Auction Procedures: Conduct of the auction will be the sole discretion of the Auctioneer. This property will be bid on “by the acre”, the Auctioneer has the right to reject any bids and will be the final authority as to the bidding increments. Auctioneer reserves the right and authority to eject any person from the auction for any reasonable grounds deemed appropriate by the Auctioneer. Announcements made by the Auctioneer at the auction will supersede any prior written or oral information.
Real Estate Sales Contract: The property is offered for sale on and subject to the terms and conditions contained in the Real Estate Sales Contract. A copy of the contract may be found on-line at www.martinauction.com or one may be obtained from the Auctioneer prior to the auction for review. The terms of the Sales Contract supersede any conflicting terms of sale contained herein. Bidders and their attorney should review the sales contract prior to the auction.
Winning Bidder: The winning bidder will be required to
a.) place a down-payment equal to 10% of the total purchase price of the land of a check to the Auctioneer, and
b.) enter into a Sales Contract with the seller for the prospective property. Closing of the auction will occur on or before December 18th, unless otherwise mutually agreed upon by the Seller and Bidder. A title policy will be provided to the successful bidder at closing.
c.) Seller will pay the 2024 taxes, the buyer will assume all taxes thereafter.
d.) Buyer will reimburse any fertilizer or tillage necessary to the farmer at closing.
Financing: This property is not contingent upon the Purchaser's
ability to obtain financing.
Possession: 2025 farming rights are included. Notice to the current farm tenant has been given.
Additional Information: Supporting property information is available from the Auction Company prior to the Auction. All data is believed to be correct but is subject to bidder verification. All items are subject to the terms found within the Real Estate Contract. Information contained within this brochure, any bidder information packages or the website has been obtained from the Seller and other sources deemed to be reliable. However, neither the Seller, Auctioneer nor their agents make any representations or warranties as to the accuracy or completeness of this information. Each prospective bidder must undertake and rely on his or her own investigation of the property.
Exclusion of Property: Martin Auction Services, L.L.C. and the Seller reserves the right to withdraw any property before or during the auction, and to sell any property prior to the auction without notice.
Additional Conditions: Seller and Auctioneer reserve the absolute right in their sole discretion to amend these procedures, terms and conditions at or before the auction. To the extent there is any conflict between the provisions of these procedures, terms and conditions as set forth herein and in any Sales Contract, the terms of the Contract shall govern.
Auctioneer has the right, in his sole discretion to postpone, or cancel the auction in whole or in part and to modify or add any terms and conditions of the auction and to announce such modifications or additional terms and conditions prior to or during the auction.
All bidders acknowledge that the Auctioneer does NOT have an ownership interest in the property and therefore all bidders acknowledge that the Auctioneer is NOT responsible for any actions or inactions by the Seller regarding the Sellers obligations under the Sales Contract.
Except as expressly stated in this document, these procedures, terms and conditions do not create any legal obligations on auctioneer or the seller. If auctioneer or the seller fails to comply with any of these procedures, terms and conditions for any reason, neither the auctioneer nor the seller shall have any liability or obligation whatsoever. These procedures, terms and conditions nevertheless are binding upon and must be complied with by any person or entity submitting a bid. The Seller will be bound only by the provisions of the actual Sales Contract as and when executed and delivered by each party thereto.
All attached images and maps are not to scale and should not be relied upon for any true measurements or boundary lines. P.I Chart shows approximate acres and approximate weighted productivity index as described by the University of Illinois.
Weighted Productivity Index
139.4 Please see the website for soil maps.