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Method and Terms18 Photos

Method and Terms

Lot Closed

Auction by Sullivan Auctioneers, LLC(5362)

This item is in Havana, IL

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Overview of Method and Terms

Item Details

This lot is informational and may be used for test bidding - place your actual bids on Lots #1-6 below.

Tracts 2, 3 & 6 will be surveyed and the final surveyed acres will be used to constitute the final settlement price. Tracts 1 - 6 will sell on a price per acre basis and will be offered through the marketing method of Buyer's Choice, where as the high bidder can elect (in any order) any or all tracts for their high bid. Buyer's Choice auctioning will continue until all six tracts have been elected. The tracts will NOT be offered in their entirety at the conclusion of the auction.

Immediately following the auction, the successful buyer(s) will be required to enter into a written purchase agreement with the seller and pay ten percent (10%) of the bid price. The balance of the bid price will be due at the time of closing on or before Friday, March 26, 2021. Bidding is NOT subject to the following contingencies, including but not limited to: financing, appraisal, and inspection. Title insurance in the full amount of the purchase price will be provided by the seller. The 2020 real estate taxes, due and payable in 2021, will be paid by the sellers. The 2021 real estate taxes will be paid by the new buyer. Possession will be given at the time of closing. Tracts 1 & 6 sell free and clear of crop tenancy for the 2021 crop year. Tracts 2, 3, 4 & 5 sell subject to a cash rent crop tenancy for 2021 (contact auction rep for further details).

All announcements sale day shall take precedence over any 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 pertaining to the property. The real estate and all improvements are being sold "As Is". The irrigation units and components are being sold "As Is".

Updated Cash Rent Information!

Tract 2 - 66.26 irrigated acres at $250/ac., 36.84 non-irrigated acres at $140/ac. - Total cash rent payment $21,722 plus $3,000 for building rent.
Tract 3 - 71.35 irrigated acres at $250/ac., 14.52 non-irrigated acres at $140/ac. - Total cash rent payment $19,870.
Tract 4 - 39.56 irrigated acres at $250/ac., 3.33 non-irrigated acres at $140/ac. - Total cash rent payment $10,356.
Tract 5 - 33.23 irrigated acres at $250/ac., 7.79 non-irrigated acres at $140/ac. - Total cash rent payment $9,398.

Payment

PAYMENT INSTRUCTIONS

Immediately following the close of the auction, the successful bidder will be required to enter into a purchase agreement. Purchase Agreement will be emailed to address on file and contract must be returned via email or fax. Immediately following the close of the auction, the successful bidder will be required to pay a non-refundable deposit as outlined in Lot #0 - Method & Terms. Failure to execute and return contract with deposit will be considered in default. Bidding on the property is not contingent on financing, appraisal or any other contingencies.

PAYMENT OPTIONS

CheckWire Transfer

Auction Details

Mason County, IL Land Auction - MarshallVFW, 415 W Adams Street, Havana, IL, 62644Wednesday, Feb 24, 2021 | 1:00 PM CST

Auction House

Sullivan Auctioneers, LLCHamilton, IL(5362)

Contact Auction House

Terms Of Sale

Property is offered under the specific terms provided in the printed and electronic versions of the auction brochure. Any and all inspections are the responsibility of the buyer prior to auction. Buyer is responsible for reviewing auction listing prior to close of sale to inspect any changes, corrections, or additions to property information. Property is being sold as is. Announcements sale day take precedence. Immediately following the close of the auction, the successful bidder will be required to enter into a purchase agreement. Purchase Agreement will be emailed to address on file and contract must be returned via email or fax. Immediately following the close of the auction, the successful bidder will be required to pay a non-refundable deposit as outlined in Lot #0 - Method & Terms. Failure to execute and return contract with deposit will be considered in default. Bidding on the property is not contingent on financing, appraisal or any other contingencies. Sullivan Auctioneers, LLC are licensed auctioneers representing the seller(s) in this transaction. Sullivan Auctioneers, LLC reserves the right to deny registration.