Description
**UPDATED** Auction Terms and Conditions
Auction Date: November 19, 2024 - 6:30 PM (Live & Online)
Auction Announcement – There will be a utility easement added to the south lines of Tracts 3 & 4 along Fuesser Rd to service tract 2 if sold separately
Bidding Period: November 7 to November 19, 2024 - 6:30 PM
- Property Sold AS-IS.
- Seller reserves the right to accept or reject the high bid.
Bidding Information:
This auction is a live event with online bidding. Pre-bidding opens on November 7 and will close during the live auction on November 19 at 6:30 PM. The auction is conducted as Bidder’s Choice, and bidding will be per acre based on the tax bill. While in-person attendance is encouraged, online bidders must be accessible by phone during the live event.
- Max Bidding: Pre-bidders may set a maximum bid. The highest online price-per-acre bid will become the starting bid in the live auction. Note that once the live auction begins, the system will no longer bid on behalf of online participants. Arrangements should be made for proxy bidding if necessary.
- Bidder’s Choice: During the live auction, the winning bidder in each round will have the right to choose one or more tracts at the final price-per-acre (based on the tax bill). If the bidder selects all tracts, the auction will conclude. If not, bidding will reset for the remaining tracts until the auctioneer finalizes the sale. The seller retains the right to approve or reject the final bid price. Online bidders must be available for phone contact after each round or make proxy arrangements.
Registration: All bidders must complete registration, providing name, address, phone number, and email. A Property Peddler team member will contact bidders to request a copy of a current state ID to finalize registration for online bidding. By registering, bidders acknowledge having read and agreed to the auction terms and conditions. The auctioneer reserves the right to refuse or revoke registration at their discretion. Early registration is encouraged to allow access to pertinent property details and auction updates.
Contract: Successful bidders will sign the auction sales contract immediately after the sale, either in person or electronically.
Earnest Money: A non-refundable deposit of 10% is due on the day of the sale, payable to Town & Country Title Company. Any checks returned for insufficient funds or stop payment orders will be considered fraudulent.
Closing: Closing will occur on or before January 10, 2024.
Closing Costs: Buyer is responsible for the purchase price plus customary closing costs, including but not limited to escrow/closing fees, recording fees, prorations, and title company charges. Buyer is also responsible for any financing-related costs.
Title Company: Town & Country Title Company
Mineral Rights: Any mineral rights owned by the seller will convey with the property. No mineral search has been performed.
Possession: Possession is subject to the current farm lease. If closing occurs in 2024 and crops are still in the ground, possession of the tillable land will be granted after the 2024 harvest. If closing occurs in 2025, possession will be immediate.
Farming Rights: No farm lease exists for 2025. The seller retains all 2024 farm income.
Taxes: The seller will provide credit for 2024 taxes based on information available at that time. All taxes thereafter will be the responsibility of the buyer. NOTE for Tract one: The seller shall credit the buyer $400 at closing for their share of the 2024 tax on this parcel. The buyer will be responsible for reaching out to the St Clair Co Assessor's Office for the 2024 tax amount attributable to the cell tower and notifying the cell tower tenants of the amount to be reimbursed to the buyers for 2024. After closing real estate taxes are responsibility of the Buyer.
Financing: Bidding is not conditional upon financing. Buyers must secure financing arrangements prior to bidding. The sale is not contingent on appraisal.
Survey: No survey will be provided.
Disclaimer and Absence of Warranties: The property is sold subject to easements, covenants, and restrictions of record. All information provided, including acreages and boundary lines, is approximate and not guaranteed. The property is sold “AS IS, WHERE IS,” with no warranties or representations made by the seller or auction company. Potential bidders are responsible for conducting their own due diligence.
The auctioneer is not liable for errors, omissions, or failures in the bidding process, including errors in internet connections or computer systems. All bidding is final upon the auctioneer's customary announcement of sale completion.
Agency Disclosure: Property Peddler Inc., its staff, and agents represent the seller exclusively. If a buyer has signed an exclusive agency agreement with a real estate broker, the buyer will be responsible for the cost of their agent’s commission.
Auctioneer: Brad Chandler IL License #441.002105 / Broker License #475.16227
LISTED by Property Peddler Inc. IL Auction License # 444.000622
- Designated Managing Broker Brenda Chandler 618-201-3947
- Auctioneer/Broker Brad Chandler 618-791-3289
