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How to be Prepared to Bid at an Auction

6 Steps on how to be prepared to bid at an auction.

People who have never bid before at an auction may be intimidated to place their first bid at a real estate auction. But no worries, we have 6 excellent steps to help you bid with confidence to obtain that new property for a future home, hunting ground, or investment. Here are a few things to consider when bidding.
1. Fees
Know what fees are involved beyond the final bid. Almost all auctions have costs beyond the final bid. Some are the standard closing costs associated with buying Illinois real estate, sometimes (not always) there is a buyer’s premium tacked on to the final bid to get the final purchase price, sometimes there will be a survey fee that will be collected at the closing of the sale.
2. Earnest money
Have an understanding of how much you will need to have as a deposit the day of the sale. Please know that this earnest money could be a non-refundable deposit so it is important to do due diligence. We never want to see your hard-earned money lost.
3. Understand the terms
Reading the terms and conditions is very important – if they raise concerns or questions for you it is a good idea to reach out to the auctioneer. This is often where you will find out about possession, fees, and any closing deadlines. As we mentioned in Earnest Money, you want to be clear because your deposit may be non-refundable. Be sure you completely understand the specific terms and conditions spelled out in the writing on your contract.
4. Financing
Have your financing in order! Know what you can spend the day of the auction. IF you are a cash buyer you most likely know cash is easiest. But if you are getting a loan, make sure you and your lender have had a conversation before the auction about how much you can spend. It is also important to know you can get the money on time. Simply verify that the down payment required by your lender is in the bank and you are ready to go.
5.Inspect the property
Inspections are the responsibility of the purchaser, that’s you! You do not want to be the winning bid and then find out the property is not what you thought it would be. We can’t say it enough research, research, research.
6. Inspect the title work
It is a good idea to see if the auctioneer has a preliminary title report prior to the sale for you to inspect. What is a preliminary title report? Well, it’s an offer to issue a policy of title insurance covering a particular estate or interest in land subject to stated exceptions. IF something on that report raises concerns it is good to consult the title company or an attorney to decide what the next steps are.
Armed with this information, you can be better prepared to bid with confidence at the auction. Think of this as a small checklist into a lifetime investment. Remember, Property Peddler Inc is always available to help our clients and future clients with all the in’s and out’s of land auctions and real estate. We go beyond the call.
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Collaborative Land Auction Event

Collaborative Land Auction is scheduled for Thursday, November 14th, 2019.  It’s a collaborative between Barber Murphy and Property Peddler Inc.  6 different properties will be auctioned that evening with online bidding available before the sale. Some of the properties have been listed in the past, but the prices that the properties were listed at before are not a reflection of the current reserves.  Do not miss this opportunity to get your bid in.  There is even property in this auction that has not hit the market before.  The properties all have different potential uses and are located in St Clair County, IL and Madison County, IL.  The properties that are being offered are as follows –

Property 1: 97+/- acres in Madison County between Collinsville and Maryville near the Highway 159 and Interstate 55-70 exchange. Only 16 minutes to St Louis. This gently rolling farm has a mix of wooded and tillable land offering some beautiful terrain and excellent deer hunting.  Offered as 3 tracts.
Tract 1A – 60 +/- acres – 39 +/- tillable acres with a wooded waterway and the remains of an old farmstead on the property.
Tract 1B- 7 +/- acres – Mostly tillable land with frontage on Troy Rd and Hilltop Ln. Great building site.
Tract 1C – 30 +/- acres – 16+/- tillable acres with a pond, pole barn, and grain bin.
This property is going to be offered as individual tracts or in a combination of, but cannot be combined with another property.
PROPERTY VIEWING for Property 1: Saturday, Nov. 2nd, from 10am – 12pm

Property 2: 109 +/- acres in St Clair County offered as 1 tract.  Development/ Farmland – 78.47 tillable acres with wooded creek line that has low water crossings in place. There are approximately 560 feet of Road Frontage on Scott Troy Road. The property address is 846 Scott Troy Road Lebanon, IL.  This property is in O’Fallon District #90 & #203 with a Lebanon Address.  Water Provider – City of O’Fallon.
PROPERTY VIEWING for Property 2: Friday, Nov. 1st from 4pm – 6pm

Property 3:  11.20 acres divided into (8) 1.4 acre Commercial Lots Ready for Development in Madison County.  GREAT OPPORTUNITY – Get your bids in on these lots.  Sites are located in United Business Plaza, Zoned BP-3 – All Utilities Available. Excellent Location.  Join National Retailers & easy access to Interstates 55/70/255 & IL Route 157.  Also easy access to miles of bike trails. Level land not far from Horseshoe Lake Rd & IL 157 intersection. Each lot measures approximately 225′ (road frontage) x 271′ deep.  This property is going to be offered as 8 individual tracts or in a combination of, but cannot be combined with another property.

Property 4:  75 +/- acre Industrial Development Site adjacent to Alton & Southern RR in St Clair County with all utilities available. Tillable land with 8071L Darwin silty clay, 0 to 2 percent slopes – PI of 111.  Road Frontage is 770′ , Depth is 1770′.  Located 1 mile east of IL Route 111, 3.5 miles north of I-64, and 3.7 Miles South of I-55.  Joins Government owned ground that makes up Cahokia Mounds.  Offered as 1 tract.

Property 5:  57 +/- wooded acres in St Clair County at Belleville, IL.  Access through the Oak Hill Estates Subdivision. Property is in Belleville Township School District 201.  Offered as 2 tracts.
Tract 5A:  24+/- acres – Wooded.  Easement off of Timberwood Drive.
Tract 5B:  33+/- acres – Mostly wooded.  Easement off of Turnberry Road onto the property.
This property is going to be offered as individual tracts or in combination of, but cannot be combined with another property.
PROPERTY VIEWING  for Property 5:  Sunday, Nov. 3rd from 12pm – 2pm

Property 6:  80 +/- acres located in rural St. Clair County.  Residential development opportunity.  Approximately 65+/- acres tillable. The gently rolling land would make very scenic building sites. Millstadt Grade School & Belleville West High School.  Offered as 3 tracts.
Tract 6A: 12 +/- acres – Mostly tillable with road frontage on Clover Leaf School Road, private drive to the west. Possible building site or investment.
                                                                                          

Tract 6B: 28 +/- acres with 21+/- acres tillable.  Excellent building site.  The topography of this land gives it many uses – build a home, a lake, or just hunt it.  Wooded creek line.
                                                                                          
Tract 6C: 40 +/- acres with 33+/- acres tillable.  Excellent building site and personal hunting property.  Possible investment.
This property is going to be offered as individual tracts or in combination of, but cannot be combined with another property.

PROPERTY VIEWING for Property 6:  Sunday, Nov. 3rd from 3pm – 5pm

The event will be held at Four Points by Sheraton Conference Center, 319 Fountains Parkway, Fairview Heights, IL 62208, and will start at 6 pm on Thursday, Nov 14th, 2019.   It is important to be on time for the opening announcements as all announcements made the day of sale by the Auctioneer will take precedence over all printed or spoken information made prior.    See complete term and conditions of the auction at propertypeddler.com

We are excited that Barber Murphy and Property Peddler are able to host this event and look forward to meeting you.  Don’t miss the upcoming property viewings or give us a call to schedule your private viewing. You can call the auctioneer Brad Chandler at 618-791-3289

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An Announcement From the Property Peddler Team

We are excited to announce we are now an independent real estate brokerage company. This will give us the opportunity to continue to grow and expand our company Property Peddler Inc. “an Auction and Real Estate Company” into the future. Property Peddler Inc. is owned and managed by Brad and Brenda Chandler.

In making this decision, not only will we be removing the confusion of being “Property Peddler powered by”, we will also be able to advertise both our Sparta and Hecker offices.  We want to let everyone know that Property Peddler has recently expanded its staff, locations, and services in both Auction and Real Estate endeavors.  Our services have now grown to include online personal property auctions. Additionally, we have begun a  Preferred Partnership with William Nobbe & Company, which will allow us to offer unique and individualized rewards to our clients. We are extremely excited about working with the Nobbe team!

While you will notice a change in our partnering logos on our advertising materials,  you will have the same great people working for you.  We and our staff assure you a streamlined transition as we move from a corporate brokerage to an independently owned brokerage.   While this corporate venture was a good learning experience and helped us grow even further as agents, we are excited to become an independent brokerage.  There have been some new laws in real estate that change the way teams advertise and market, so it became a clear decision that we needed to break away to allow us to continue working and doing what we enjoy.  We have been blessed with and worked for some awesome people and we are so appreciative for the good wishes and the excitement others have shown us, and for encouraging our independence!

The Property Peddler Team will continue to strive to give our clients the very best of our knowledge, experience, and service with all of the strength, integrity, and hard work we are known for!

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Support Your County and State Fairs!

Along with summertime comes county fair time. County fairs are food stands, tractor pulls, livestock shows, horse shows, fair queen pageants, local exhibits and amusement rides – something for everyone. They are a time for people to come together and show what it means to be a community. Fair week is a busy week for many families around the area as it takes a lot of work and time to put on a good fair and they take pride in doing so. County fairs also give FFA and 4H members a chance to display the projects they have worked hard on and a place to learn about selling their products and to experience what community spirit is. It’s enjoyable to watch these youth as they grow and mature from year to year. You see the progression of the young exhibitor, who was once so timid handling their animal when they first got into the show arena, develop into a young adult who not only handles their animal with experience and confidence, but is also willing to lend a hand to the younger generation. Seeing these kids grow up and watching their leadership skills develop is a lot of fun.

 

Make time to support your county fair and state fairs. Your attendance and support are an important part of what makes your community, a community. It is where people come together and work together for a common cause and where children learn to be future leaders and business people. If you get a chance to purchase an animal at an FFA and 4H livestock auction , you will be supporting local youth while also fostering growth and investment in the community.

 

Below is a list of some of the upcoming fairs to add to your calendar:

 

June 15 – 22 Perry County (Pinckneyville) – Livestock Auction Tues, June 18th at 6pm
July 9 – 13 Washington County (Nashville) – Livestock Auction Wed, July 10th at 6:30pm
July 12 – 20 Randolph County (Sparta)
July 14 – 20 Clinton County (Carlyle) – Livestock Auction Fri, July 19th at 7pm
July 21 – 28 Monroe County (Waterloo) – Livestock Auction Thurs, July 25th at 6pm
July 23 – 28 Madison County (Highland) – Livestock Auction Fri, July 26th at 7:30pm
August 2 – 4 St Clair County (Mascoutah) – Livestock Auction Sat, Aug 3rd at 7:30pm
August 23 – Sept 2 DuQuoin State Fair

 

 

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The Louis Mund Legacy

A Tribute to Louis Mund

“Doing something good is important. It just seems to me that helping kids is a good
cause, and Cardinal Glennon does a lot of great things,” said Lou Mund in a 2002 Glennon
Magazine profile.
Mr. Mund, who passed away on Nov. 13, 2017, was a devoted benefactor of SSM Health
Cardinal Glennon Children’s Hospital for 34 years as host of the Columbia Golf Classic. Future
generations of children will benefit from his generosity through his planning to bequeath a
portion of his estate to the hospital.
Mr. Mund was quiet, hard-working and successful. He grew up in Dupo, Ill., within sight
of the St. Louis skyline across the Mississippi River. He went to work when he was nine years
old, helping a farmer plant and harvest tomatoes.
During high school he took on mechanical repairs in his parents’ garage and at a farm
implement dealership. Then he was drafted and during the early 1950s he spent two years
repairing U.S. Army tanks in Germany. After returning home he opened a business to repair
automobiles, trucks and tractors.
His skills and honesty brought steady clientele and friendships with businessmen who
occasionally informed him of real estate opportunities. He bought a 2,000-acre farm and other
properties that railroads were divesting in small towns they no longer could serve.
Mr. Mund’s home on the Columbia bluffs and his river-bottom farmlands were part of the
Native American community. He collected Indian artifacts, arrowheads, hatchet heads, and other
implements) found on his property and assisted University of Illinois archeologists in research
that resulted in a significant book, The Mund Site.
He also will be remembered for his contributions to the history of SSM Cardinal Glennon
— the President’s Conference Room bears a plaque identifying it as “The Mund Room.”
In 1982 Mr. Mund diversified again, purchasing the Columbia Golf Course. At the urging
of a friend who served on the Cardinal Glennon Board of Governors, he began hosting the
annual Columbia Golf Classic in 1984.
He sold the course in 2001 but negotiated a caveat into the sale agreement. “The
extension of the golf event for Cardinal Glennon as long as I’m alive,” he said. “I’m pretty proud
of that tournament. I have no children. My wife had five miscarriages. I’m very thankful for all
my employees who helped make me successful. It’s given me some self-satisfaction to know that
I can share some of that success.”
The current owner of the golf course, Bill Hawn, is continuing Mr. Mund’s legacy to
SSM Cardinal Glennon’s kids. He donated the course for the 35th Annual Columbia Golf
Classic on Sept. 7.

–Author Unknown

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The Best Memories Are Made On The Farm

 

 

 

For some, farm life is part of the everyday fiber of the family.  For others, it might be where they grew up and would like to get back to and for others, it may have been a favorite place to visit as a child.

 

These memories are a double-edged sword for those of us in the rural real estate business.  Selling the family farm can get sticky, emotional and hard.  Arguments arise, and people will often find themselves in what feels like a battle both within themselves and with others.  Often times when selling land, they are selling something that has been in the family for quite some time and they have only one shot to make this the best sale possible for their family’s sake.  When making this decision, it is important to choose the right agent or auctioneer to help the family through this process.

 

Memories made on the farm are also where so many of the buyers come from.  They long to get back to the farm or in a country setting.   They want to have a place to create family memories with their children and grandchildren.  People also see it is an investment and cherish the time spent at the farm or on the land.  It is fun to have an investment you can truly stand on and watch your family enjoy for many years.   — Brenda Chandler

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The Benefits of a Land Survey

 

 

Although a survey is not required to sell land in Illinois, I would highly recommend it. A survey can help identify and solve problems that an owner did not know existed, but in time may cause issues.  We at Property Peddler see it so often.  Property will be purchased without a survey, then when this property or neighboring ground is sold, issue after issue will arise that were unknown or thought to be resolved when the property was originally purchased.  Some of the more common problems that occur include: not owning as much acreage as once thought, using land that is not rightfully owned due to a poorly written legal description, building encroachment, and easement issues due to a lack of clarity.  For example, an owner could have a 1/4 section of a 1/4 section which in theory should be a square 40 acres, but it could turn out the land is located in a “large” section or “small” section which means your square 40 is really +/- acres. (Legal descriptions often refer to Sections in a specified township. These sections are typically 1 square mile by 1 square mile containing 640 acres.  However, these section lines are based on a flat map and to make up for the curvature of the earth there are some “large” and “small” sections.)  A survey is a cost effective way to clearly understand what is being sold/purchased and hopefully prevent issues in the future.  The peace of mind that a survey can provide will make for a more confident buyer.  — Written by Brenda Chandler

 

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National Land Conference 2018

     Land professionals from across the country gathered to network with each other and discuss the latest in marketing, market trends, and the economy at the 2018 National Land Conference, in Nashville, TN.  My wife, Brenda, and I had the opportunity to attend this event and were excited to learn from the industry’s top leaders.  The discussions were very informative and covered topics including the Farm Bill, Conservation Easements, Environmental factors, 1031 exchanges, and the residential impact of land sales.  It is an ever-changing world that we live in and it is imperative we be aware of the changes.  The presentation given by an economist on his predictions for the future was enjoyable, as was listening to the perspectives of commercial agents that specialize in land development.  As a member myself, it was inspiring and humbling to meet the other members of the APEX 2018 Producers Club & seeing the top producers recieve thier awards.  Keller Williams had a strong showing with professionals from KW Land & KW Luxury division.  All in all, it was a great experience that gave us a fresh look on how to serve our clients and market their properties.  We look forward to using this information to keep improving on what we do.  —- Brad Chandler

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Benefits of a Licensed Illinois Real Estate Broker & Auctioneer

When you have a person that is licensed as both an auctioneer and real estate broker, you will find this person can add a different perspective and opportunity when selling your property.   There are situations when it is ideal to have an auction and other times when it is beneficial to do a listing.  Some of the factors that determine this include the urgency and price of the sale for the seller, time of the year, and if the property has a tenant.  It can be interesting to hear the opinion of someone that is experienced in both listings and auctions, and they can give you insight into what to do to be prepared for each type of sale.  It is also nice that a broker is legally allowed to negotiate outside of the auction if the situation deems necessary.  Many real estate brokers subscribe to many different resources that can be beneficial to their clients such as mapping programs, resources that have value comparables , and promotional programs.   If you are considering selling your property give us a call so we help you look at all the options you have.

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