ONLINE LAND AUCTION: White County IL 80+- Acres / 1 Tract (2703A)

ONLINE LAND AUCTION: White County IL 80+- Acres / 1 Tract

Bidding Closes Thursday, July 22, 2021 at 8:00 p.m. CST

Property Inspection: By Appointment - Call Auctioneer/Broker Wayne Keller at 618-407-1679

Property Address: County Road 300N, Norris City IL 62869

DESCRIPTION

80 acres 4+- miles South East of Norris City IL.  70+- acres tillable with a PI of 106.  Good quality soils.  There is an abandoned farmstead on the property and several oil wells, but no mineral or lease income. The farm has a crop share lease for the 2021 season.  Seller will retain 2021 farm income.

TERMS AND CONDITIONS

NO BUYER'S PREMIUM.

YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING.

SALE IS SUBJECT TO THE CONFORMATION OF THE SELLERS.

PROCEDURE: Minimum opening bid will be $1000 per acre with $100 per acre bid increments up to $3500 per acre.  Bid increments of $50 per acre between $3500 and $4200. Bid increments of $25 per acre after $4200 per acre.

SHORT LEGAL: Part of Section 11, Township 7 South - Range 8 East, White County Illinois.

TAX ID’s: 2111300004 & 2111400003.

REAL ESTATE TAXES: $1888.64 (2019 payable 2020). Pro-rated to closing date.

SURVEY:  No survey provided.

MINERAL: No mineral will transfer.  No mineral or lease income.

CONTRACT AND DOWN PAYMENT: Contract for purchase to be signed within 24 hours of close of auction. A 10% down payment of the total contract purchase price will be due immediately after being declared the winning bidder. The down payment may be paid in the form of personal check, wire transfer, business check or cashier's check and received within 3 business days. Earnest check to be made to Buy A Farm Land & Auction Co. Trust Account. The balance of the contract purchase price is due at closing.

TITLE: Sellers shall furnish the Buyer(s) at Seller's expense marketable title in the form of Title Commitment, Title Insurance, a proper deed conveying merchantable title to the real estate to the buyer(s) and tax transfer stamps.  Buyer will pay the deed recording and fees associated with mortgage/financing. Title companies closing fee will be split equally by Buyer & Seller.

CLOSING: Closing shall occur within 45 days or as soon thereafter as applicable closing documents are completed. Seller shall pay for recording release from any mortgage. Buyer shall pay for recording the deed of conveyance from Seller and any mortgage title insurance charges. Any closing costs not herein provided for shall be borne by Buyer. Seller shall cause the Closing Statement to be delivered to Buyer at or before the closing.

POSSESSION: Possession will be given at closing subject to the 2021 farm lease.  Seller will retain 2021 crop lease income.

The information is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed the owners or Buy A Farm Land & Auction Co. LLC. All lines drawn on maps, photographs, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties pertaining to this property. Real estate is being sold "As Is, Where Is".

Any bid placed inside 5 minutes will extend the auction bidding another 5 minutes. This will continue until there are no more bids.

AUCTIONEER: Wayne Keller, IL Lic #441.002475.