Auction Terms & Conditions Addendum “A” Terms and Conditions
NO BUYER'S PREMIUM
BIDDING IS ON A PER TRACT / LOT BASIS (REQUIRES $1,000 MINIMUM TO RAISE BID)
YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING.
Sale is subject to the confirmation of the Sellers.
PROCEDURE: Property is offered per tract / lot. Bidding on multi tracts allowed, no combinations.
SHORT LEGAL: Tract #1 - Part of Section 12-7, T9S-R5 & 6E; Tract #2 - Part of Section 12-7, T9S-R5 & 6E
TAX ID: TBA
REAL ESTATE TAXES: Prorated to closing date.
SURVEY: Property has been surveyed - full boundary, not divided into tracts.
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.
TITLE: Sellers shall furnish the Buyer(s) at Seller's expense marketable tile 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 the mortgage. Buyer shall pay for recording the deed of conveyance from Seller and 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.
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: Don Bailey, IL Lic #441.002325
Seller User Terms
Bidder User Terms