ONLINE REAL ESTATE AUCTION: Marion County IL 31+- Acres / Farmstead Home Barn Cropland / 2769A

ONLINE AUCTION: Marion County IL 31+- Acres - 1 Tract

Bidding Closes Thursday, February 17, 2022 at 8:00 p.m. CST

Property Inspection: Saturday, February 5, 10 a.m. to Noon

Property Address: 1 C Bar Lane, Iuka IL 62849

DESCRIPTION

30.8 acres at the West edge of Iuka Illinois with an older home and farmstead. The 22.7 acres of cropland has a PI of 95.4 and is leased for the 2022 crop year (call for details). The home is a 4-bed fixer-upper with partial cellar. There is a large pole barn, also a fixer-upper, and a few delipidated buildings. Note: There is a well or cistern against the South side of the home that has a detreating top leaving it partially exposed.  This property is being sold “as-is”.  Great site for a new home!

TERMS AND CONDITIONS

NO BUYER'S PREMIUM.

YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING.

SALE IS SUBJECT TO THE CONFIRMATION OF THE SELLERS.

Bidding Per Tract - Not Per Acre - In $500 Bid Increments

NOTE: Your bidding is not contingent upon financing or inspections. Buyer’s due diligence - Any and all inspections buyers require must be performed before bidding. Any and all required appraisals, loan approval and other essential due diligences must be performed before bidding. Home buyers are accustomed to performing home inspection after contract is signed; we want to make it clear this is not the case for this sale.

PROCEDURE: Property is offered in 1 tract.

SHORT LEGAL: Part of NE ¼, Section 18, Township 2 North – Range 4 East, Marion County IL.

REAL ESTATE TAXES AND TAX ID: Taxes: $1738.60. Taxes pro-rated to closing date. Parcel ID #'s 13-18-200-001, 13-18-218-001.

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 60 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 farm tenant rental agreement for 2022 crop production.

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