County Farm Road, Salem, IL 62881 - Marion County

ONLINE LAND AUCTION: Marion County IL 35+- Acres / Tillable / Income

Bidding Opens Tuesday, January 28, 2025

Bidding Closes Tuesday, February 11, 2025, at 8pm CST (Soft Close)

Property Inspection: By Appointment Only - Contact Auctioneer Don Bailey, 618-919-1031

Property Address: County Farm Road, West of Salem IL 62881

DESCRIPTION

34.77 tax acres

36.75 total FSA acres

34.41 acres FSA tillable

PI of 98.6

Owned and farmed by modern farmer for several years - extremely well maintained

Pin #12-08-300-004

Taxes $646.46

Section 8, T2N-R3E

All potential online bidders must register before auction and personally call Auctioneer Donald Bailey at 618-919-1031. In the past bidders that wait until the last minute to register may stand a chance not being able to bid.

PROCEDURE

Registration: Proper registration is required to bid. All bidders must provide name, address, phone number and email address to register. By registering, all bidders acknowledge having read and agree to be bound by the Auction Terms and Conditions. Auctioneer reserves the right to refuse to register or admit Buyer at his/her sole discretion.

Note: If you are unable to bid Online or are unsure about the reliability of your internet connection, call the Auctioneer and make alternative bidding arrangements at least 24 hours before close of auction.

Bidding will be on a PER ACRE BASIS with MINIMUM OPENING BID of $1,000 per acre (eBay style bidding).

Minimum bid increments - $25 per acre.

Bidding OPENS TUESDAY, JANUARY 28, 2025. Bidding CLOSES TUESDAY, FEBUARY 11, 2025, subject to bid extensions (Soft Close).

TERMS AND CONDITIONS

NO BUYER'S PREMIUM.

SALE SUBJECT TO CONFIRMATION OF SELLER(S).

NO CONTINGENCIES: This Real Estate contract is not contingent on or subject to Buyers financing, appraisal, survey or inspections of any kind or any other contingencies as agreed to by bidders at registration prior to bidding.

ZONING AND EASEMENTS: Property is being sold subject to any and all easements of record. Property is subject to all state and local zoning ordinances.

REAL ESTATE TAXES: Prorated to day of closing.

SURVEY: n/a

MINERAL: Any mineral owned will transfer, if any. Present ownership unknown.

CONTRACT AND DOWN PAYMENT: Contract for purchase to be signed within 24 hours of close of auction. A 10% down payment of the total contract purchase price will be due immediately after being declared the winning bidder. The down payment may be paid in the form of personal check, wire transfer, business check or cashier's check and received within 3 business days. Earnest check to be made to Buy A Farm Land & Auction Co. Trust Account. The balance of the contract purchase price is due at closing. Any stop payment order of a check or giving a check which is returned marked insufficient funds, shall be deemed by the parties to be evidence of fraud existing at the time the transaction was consummated and shall be construed by the parties as intent to defraud.

TITLE: Sellers shall furnish the Buyer(s) at Seller's expense marketable title in the form of Title Commitment, a proper deed conveying merchantable title to the real estate to the Buyer(s) and tax transfer stamps. Buyer will pay the deed recording, Title Policy and fees associated with mortgage/financing. Title companies closing fee will be split equally by Buyer and Seller.

CLOSING: Closing shall occur within 45 days or as soon thereafter as applicable closing documents are completed. Seller shall pay for recording release from any mortgage. Buyer shall pay for recording the deed of conveyance from Seller and any mortgage title insurance charges. Any closing costs not herein provided for shall be borne by Buyer. Seller shall cause the Closing Statement to be delivered to Buyer at or before the closing.

POSSESSION: Possession at closing subject to farm tenant agreement that ends 2024.

AGENCY: Buy A Farm Land & Auction Co LLC is the Agent and Representative of the Seller.

The information is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed the owners or Buy A Farm Land & Auction Co LLC 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 the Seller(s) or Buy A Farm Land & Auction Co LLC pertaining to this property. Real estate is being sold "As Is, Where Is".

AUCTIONEER: Donald Bailey, IL Lic #441.002325, 618-919-1031.