Zinc Drive, Louisville, IL 62858 - Clay County

ONLINE AUCTION: Clay County IL 75.8+- Acres Offered in 2 Tracts

Bidding Starts Thursday, September 15, 2022 at 8:00 a.m. CST

Bidding Closes Thursday, September 29, 2022 at 8:00 p.m. CST

Property Inspection: By Appointment Only

Property Address: Orchard Lane & Zinc Drive, Louisville IL 62858

Bidding Per Acre x Amount of Acres. Offered in 2 Tracts or Combination of Both Tracts. $25 bid increments.

DESCRIPTION

Both tracts are well maintained with road frontage and mostly all tillable ground.

Offered in 2 tracts and combination of tracts.

Parcel #: 07-18-400-001 (19 ac), 07-18-400-004 (21.8 ac), part of 07-18-200-007 (35 ac)

Section 17, Township 4 North, Range 7 East

TRACT 1:

35.65+- Acres / 35.65 FSA Acres Tillable

Lays flat to gently sloping

Very modernized, knowledgeable and reliable tenant farmer managing/farming property

Taxes: $936.74

TRACT 2:

40.3+- Acres / 38.35 FSA Acres Tillable

Lays flat to gently sloping

Very modernized, knowledgeable and reliable tenant farmer managing/farming property

Taxes: $597.12

TERMS

NO BUYER'S PREMIUM.

YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING.

SALE IS SUBJECT TO THE CONFIRMATION OF THE SELLERS.

BIDDING PER ACRE X AMOUNT OF ACRES. OFFERED IN 2 TRACTS OR COMBINATION OF BOTH TRACTS. $100 BID INCREMENTS.

PROCEDURE: Property offered in 2 separate tracts and combination of both tracts.

SURVEY: No survey.

MINERAL: Seller to retain 50% for 20 years or as long as production exists.

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.

TITLE: Sellers shall furnish the Buyer(s) at Seller's expense marketable title in the form of Title Commitment, Title Insurance, a proper deed conveying merchantable title to the real estate to the buyer(s) and tax transfer stamps. Buyer will pay the deed recording and fees associated with mortgage/financing. Title companies closing fee will be split equally by Buyer & 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 2022 harvest farm lease.

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 pertaining to this property. Real estate is being sold "As Is, Where Is".

Any bid placed inside 5 minutes will extend the auction bidding another 5 minutes. This will continue until there are no more bids.

AUCTIONEER: Donald Bailey, IL Lic #441.002325