ONLINE AUCTION: Clay County IL 45+- Acres / Tillable Farmland Income CRP / 2855A

ONLINE AUCTION: Clay County IL 45+- Acres

Bidding Starts Thursday, December 1, 2022 

Bidding Closes Thursday, December 15, 2022 at 8:00 p.m. CST

Property Inspection: By Appointment Only - Contact Auctioneer Don Bailey at 618-919-1031.

Property Address: 1273 Finch Lane, Louisville IL 62858

Bidding will be per acre x acres.

All potential bidders must register before auction, preferably two weeks ahead of December 15th, 2022. All potential bidders must personally call Auctioneer Donald Bailey at 618-919-1031 or e-mail at dbailey@buyafarm.com. In the past bidders that wait the last minute to register, may stand a chance not being able to bid.

DESCRIPTION

• 20 Acres: Pin #02 26 200 002; Property tax $231.52
• 25 Acres out of 30 Acres: Pin #02 26 200 004; Property tax estimate $212.12
• 31.32 tillable acres enrolled in CRP; expiries 09/20 2026; pays $174.40 per acre = $5,462 annually
• 69% tillable presently. With removing fence rows possibly add 10+/- acres which brush removal could be a tax deduction.
• Soil PI of 97.9
• Short Legal: Section 26, T5N-R6E

TERMS

NO BUYER'S PREMIUM.

YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING.

SALE IS SUBJECT TO THE CONFIRMATION OF THE SELLERS.

BIDDING PER ACRE X AMOUNT OF ACRES. OFFERED IN 1 TRACT. $25 BID INCREMENTS.

PROCEDURE: Property offered in 1 tract.

SURVEY: Seller agrees to pay survey cost on 10 acres West of homestead.

MINERAL: Seller to retain 50% for a period of 20 years or as long as production exists.

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 at closing subject to FSA CRP contract terms. CRP contract obligations shall stay with the land upon sale.

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: Donald Bailey, IL Lic #441.002325