ONLINE AUCTION: Monroe County IL 98+- Acres / Tillable Farmland Income / 2811A

ONLINE AUCTION: Monroe County IL 98+- Acres

Bidding Closes Friday, July 8, 2022 at 8:00 p.m. CST

Title Commitment Just Posted - See Useful Document Section Below

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

Property Address: Reed Road and MM Road, Red Bud IL 62278

Bidding Per Acre x Amount of Acres. Offered in 1 Tract. $10 bid increments.

PLEASE NOTE: Upon the seller’s acceptance of highest bid for this Land Auction, Seller will convey all Farm Income for this 2022 crop season to successful buyer.

Terms of Farm Lease:   

• A. 91 acres tillable X $235.00 per acre cash rent ($21,385 annually)
• B. 40% of gross average corn, soybeans and wheat price
• Whichever is greater a or b

If farm sells to new owner, new owner will receive possession at closing subject to Farm Tenants right to remove 2022 crops. Farm will be open for new farmer - 2023 crop season.

DESCRIPTION

• 98.05+/- acres with 91.35+/- acres tillable
• Road frontage on Reed Road and MM Road Red Bud IL
• Parcel #16-08-200-003-000
• Taxes: $940.48
• Section 8, T4S-R9W
• Soil PI 96.98

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. $10 BID INCREMENTS.

PROCEDURE: Property is offered as 1 tract.

SURVEY: No survey.

MINERAL: Any mineral owned will transfer.

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.

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