ONLINE AUCTION: Saline County IL 4+- Acres / Commercial Property Buildings Warehouse Storage

AUCTION HAS BEEN CANCELED!

Bidding Starts Friday, July 7, 2023

Bidding Closes Thursday, August 3, 2023 at 8PM CST

Property Inspection: Saturday, July 22, 10 am to 2 pm

Property Address: 20 Lebanon Road, Galatia IL 62935 (NE corner of Rt 34 & Lebanon Road/Harco Road)

DESCRIPTION

• Property site consists of 4+- acres that is fenced and gated.
• There are 2 buildings; main building is 2600 square feet with offices, warehouse and shop.  The other is a 1200 square feet open sided storage facility. Also, a small 10x10 enclosed building is on site. A drive-over scale is at the side of the main building.
• This property, rurally located in heart of farm country adaptable for many purposes.
• Property is at the intersection of IL Route 34 and Lebanon Road/Harco Road.
• Real Estate Taxes: $4,500

PROCEDURE

• Registration: Proper registration is required to bid. All bidders must provide name, address, phone number and email address to register.  By registering, all bidders acknowledge having read and agree to be bound by the Auction Terms and Conditions. Auctioneer reserves the right to refuse to register or admit Buyer at his/her sole discretion.
• Note: If you are unable to bid Online or are unsure about the reliability of your internet connection, call the Auctioneer and make alternative bidding arrangements by AUGUST 2.
• Bidding will be per tract – eBay-style/max bidding.
• Bidding opens FRIDAY, JULY 7, and will be available until 8:00 PM CST THURSDAY, AUGUST 3, 2023, subject to bid extensions (Soft Close).
• Bidding will be on a per tract basis with a minimum opening bid of $80,000. Minimum bid increments of $1,000 per bid.

TERMS AND CONDITIONS

NO BUYER'S PREMIUM.

SALE SUBJECT TO CONFORMATION OF SELLER(S).

NO CONTINGENCIES: This Real Estate contract is not contingent on or subject to Buyer’s financing, appraisal, survey or inspections of any kind or any other contingencies as agreed to by bidders at registration prior to bidding.

ZONING AND EASEMENTS: Property is being sold subject to any and all easements of record. Property is subject to all state and local zoning ordinances.

REAL ESTATE TAXES: Pro-rated to day of closing.

SURVEY: No survey provided.

MINERAL: Any mineral owned will transfer, if any.

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. Any stop payment order of a check or giving a check which is returned marked “insufficient funds,” shall be deemed by the parties to be evidence of fraud existing at the time the transaction was consummated and shall be construed by the parties as intent to defraud.

TITLE: Sellers shall furnish the Buyer(s) at Seller's expense marketable title in the form of Title Commitment, 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 and Seller.

CLOSING: Closing shall occur within 30 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 at closing.

AGENCY: Buy A Farm Land & Auction Co LLC is the Agent and Representative of the Seller.

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 made by the Seller(s) or Buy A Farm Land & Auction Co LLC pertaining to this property. Real estate is being sold "As Is, Where Is".

AUCTIONEER: Mark Kennedy, IL Lic #440.00022.