• 11AM CST • 240+/- Acres offered in 3 Tracts • 148.8+/- Tillable Acres • Oil Income • 83+/- Wooded Acres • Hunting Tracts • Cisne-Huey and Hoyleton-Darmstadt Soils • ONLINE BIDDING AVAILABLE You may bid online during the auction at www.schraderauction.com. You must be registered One Week in Advance of the Auction to bid online. For online bidding information, call Schrader Auction Company at 800-451-2709.
Home / Auction Info
REAL ESTATE AUCTION - 240+/- ACRES OFFERED IN 3 TRACTS IN MARION COUNTY, ILLINOIS
Salem, IL - Alma Township - Marion County, IllinoisOwner: Mastis Trust & La Grotta Trust
11AM (CST) Tue, Jun 18, 11:00 AM
OPEN HOUSE/INSPECTION DATES
Monday, June 3 from 10AM-12Noon (CST)
From the Jct of Hwy 50 and St Rt 37 in downtown Salem: Travel east on Hwy 50, 2.4 miles to County Farm Rd turn North, 1.5 miles to Quail Run Rd, turn east, 1/2 mile to the farm.
Marion County Illinois Fairgrounds, Exhibit Bldg. Route 37, South at East Lake Street, Salem IL, 62881
Tract 1: 98± ac consisting of 88.6+/- tillable acres in one field, frontage on Quail Run Rd.
Tract 2: 47± ac consisting of wooded acreage with a creek and a few open meadows with frontage along Quail Run Rd. A good hunting tract.
Tract 3: 95± ac consisting of 60.1+/- tillable acres with balance mainly wooded. Tract 3 is easily accessed via existing lease roads.
PROCEDURE: The property will be offered in 3 individual tracts, any combination of tracts and as a total 240+/- acre unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations and the total property may compete.
DOWN PAYMENT: 10% down payment on the day of auction for individual tracts or combinations of tracts. The down payment may be made in the form of cashiers check, personal check, or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, and are capable of paying cash at closing.
ACCEPTANCE OF BID PRICES: All successful bidders will be required to enter into Purchase Agreements at the auction site immediately following the close of the auction. All final bid prices are subject to the Sellers acceptance or rejection.
EVIDENCE OF TITLE: Seller shall provide an owners title insurance policy in the amount of the purchase price.
DEED: Seller shall provide Trustees deed or Warranty deed.
CLOSING: The targeted closing date will be approximately 30 days after the auction. The balance of the purchase price is due at closing.
POSSESSION: Possession of ownership shall be at closing, subject to the 2019 farm lease with Robert and Kent Austin Farms.
REAL ESTATE TAXES: Seller shall pay the 2018 taxes due and payable in 2019. Taxes assessed for 2019 due and payable in 2020 shall be prorated to to the date of closing.
PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries and due diligence concerning the property. Inspection dates have been scheduled and will be staffed with auction personnel. Further, Seller disclaims any and all responsibility for Bidders safety during any physical inspection of the property. No party shall be deemed an invitee of the property by virtue of the offering of the property for sale.
ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.
SURVEY: The Seller shall provide a new survey where there is no existing legal description or where new boundaries are created by the tract divisions in this auction. Any need for a new survey shall be determined solely by the Seller. Seller and successful bidder shall each pay half (50:50) of the cost of the survey. The type of survey performed shall be at the Sellers option and sufficient for providing title insurance. Combination purchases will receive a perimeter survey only.
BUYER CREDIT: At closing the buyer(s) shall receive a credit in the amounts as follows. Tract 1 = $4555.00. Tract 2 = $0. Tract 3 = $3091.00.
MINERAL RIGHTS: Seller shall convey at closing 100% of the mineral rights they own. Sellers Royalty income from the current Oil and Gas lease shall be prorated on a per acre basis, in the event the reals sells in some combination of tracts and not as a single unit.
AGENCY: Schrader Real Estate & Auction Company, Inc. and its representatives are exclusive agents of the Seller.
DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on an AS IS, WHERE IS basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. All decisions of the Auctioneer are final.
ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.