This lot is informational and may be used for test bidding - place your actual bids below on Lots #1-4

Open House: Saturday, February 27th from 11 AM to 1 PM

Acreages in this advertisement are estimated. A survey has been completed prior to the sale on all 4 tracts. Tract 1 will be sold for a lump sum total dollar amount. Tracts 2-4 will be sold on a price per acre basis based on acreages obtained from completed survey. Tracts 2-4 will be offered through the marketing method of "Buyer's Choice" whereas the high bidder can purchase (in any order) any or all tracts of Tracts 2-4 for their high bid. "Buyer's Choice" auctioning will continue until all 3 tracts have been elected. The tracts will not be offered in their entirety at the conclusion of the auction.

Bidding is NOT contingent upon financing.

Immediately following the auction, the winning bidder(s) will be required to sign a real estate sales contract and pay ten percent (10%) of the purchase price as a non-refundable down payment, payable to Accurate Land Title Co., which shall hold the money in escrow until closing.

The balance of the purchase price will be due at closing which will take place at Accurate Land Title Co. on or before April 12, 2021. Possession will be given at the time of closing subject to the current 2021 farm lease. PLEASE NOTE: Buyer(s) of Tracts 2, 3 & 4 will be credited at closing the entire estimated 2021 crop lease payment associated with each individual tract.

The buyer(s) of Tracts 3 & 4 will receive the entire 2021 CRP payment.

The 2021 real estate taxes will be prorated to the date of closing. Title insurance in the full amount of the purchase price will be provided by the seller. Closing costs will be split between buyer & seller.

All announcements made sale day take precedence over prior advertising either written or oral. The information in this brochure is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties made by seller or Sullivan Auctioneers, LLC pertaining to this property. Real estate is being sold "AS IS".


CLICK HERE TO VIEW SURVEY PLAT

CLICK HERE TO VIEW SURVEY PLAT - AERIAL OVERLAY


CLICK HERE TO VIEW TRACT 1 PURCHASE DOCUMENTS

CLICK HERE TO VIEW TRACT 2 PURCHASE DOCUMENTS

CLICK HERE TO VIEW TRACT 3 PURCHASE DOCUMENTS

CLICK HERE TO VIEW TRACT 4 PURCHASE DOCUMENTS


Bonnie L. Madden Estate
Timothy J. Madden

Representing Attorney:
James A. Rapp
Schmiedeskamp Robertson Neu & Mitchell LLP
525 Jersey
Quincy, IL
(217) 223-3030

Title Work By:
Accurate Land Title Co.
218 Broadway
Hannibal, MO
(573) 221-1002

Auction Manager: 
Bill Fretwell (660) 341-7735
 
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• This tract is improved with a 1948 built, 3 bedroom, 1 bath, 1,750 sq. ft. (which includes a 448 sq. ft. addition built in 1990) total living space with basement and 2 car attached garage. Other improvements include a 50'x24' machinery/utility building, 36'x36' pole barn, and a 22'x25' utility building.
• No rural water to this tract at this time.
• Access from the south by US Hwy. 36.

This tract will be sold for a lump sum, total dollar amount.
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• FSA figures should indicate approximately 62 acres of tillable cropland.
• Soil types: Mexico, Blackoar, Leonard & Putnam.
• Land represents highly productive tillable cropland with US Hwy. 36 frontage.
• Access from the west by Tupelo Rd.

The purchase agreement will be adjusted to a quantity of 82.1 acres times the winning bid value for the final purchase amount. The bidding platform rounds the quantity value.
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• FSA figures should indicate approximately 105.43 acres of tillable cropland of which .9 acres are enrolled in CRP at a payment rate of $136.80 through 9-30-2022.
• Soil types: Putnam, Mexico, Leonard & Blackoar.
• Land represents highly productive tillable cropland.
• Access from the west by Tupelo Rd.

The purchase agreement will be adjusted to a quantity of 115.8 acres times the winning bid value for the final purchase amount. The bidding platform rounds the quantity value.
 
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• FSA figures should indicate approximately 66.74 acres of tillable cropland of which .3 acres are enrolled in CRP at a payment rate of $136.80 through 9-30-2022.
• Soil types: Mexico, Putnam & Leonard.
• Land represents highly productive tillable cropland.
• Access from the west by Tupelo Rd.

The purchase agreement will be adjusted to a quantity of 80.0 acres times the winning bid value for the final purchase amount. The bidding platform rounds the quantity value.
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