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Method and Terms
Method and Terms
Method and Terms
Method and Terms
Method and Terms

Method and Terms

Lot Closed

Auction by Sullivan Auctioneers, LLC(5362)
This item is in Lanark, IL

Similar Items

Overview of Method and Terms

Item Details

 

The Sprungman farm will be sold on a price per acre basis, based on taxable acres. The tracts will not be surveyed. Both tracts will be offered through the marketing method of "Buyer's Choice", whereas the high bidder can elect, in any order, either or both tracts for their high bid. "Buyer's Choice" auctioning will continue until both tracts have been purchased. 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 Tuesday, September 8, 2020. Bidding is NOT contingent upon financing. 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 seller, as they are retaining the cash rent for this crop year. The 2021 real estate taxes will be paid by the new buyer(s). The farm sells with a tenant for the 2020 crop year only. Possession will be given at the time of closing, subject only to the current tenant for the 2020 crop year.

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. This real estate is being sold "as is".


CLICK HERE TO VIEW TRACT 1 TITLE COMMITMENT

CLICK HERE TO VIEW TRACT 2 TITLE COMMITMENT


CLICK HERE TO VIEW TRACT 1 PURCHASE AGREEMENT

CLICK HERE TO VIEW TRACT 2 PURCHASE AGREEMENT


Marianne M. Sprungman Estate
Michelle Grummert - Executor


Representing Attorney:
Rebecca A. Rodriguez
Ward, Murray, Pace & Johnson, P.C.
202 E. Fifth St., Sterling, IL 61081
Ph: 815-625-8200


Auction Managers:
Dale Jones (309) 299-6400
Michael Sullivan (309) 333-0916


Payment

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 equal to 10% of the total purchase price. The balance of the purchase price is due at closing. 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.
Wire Transfer

Auction Details

Carroll County, IL Land AuctionOnline Event, Lanark, IL, 61046Wednesday, Aug 5, 2020 | 11:00 AM CDT

Auction House

Sullivan Auctioneers, LLC
Sullivan Auctioneers, LLCHamilton, IL(5362)
Contact Auction House

Terms Of Sale

Refer to Lot #0 for specific Method and Terms of this auction. 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. 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.
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