Property Description
SOLD at AUCTION
FARMLAND AUCTION
+/- 278.24 Acres offered in 3 tracts
Grant, Ross, and South Ross, Twps. Vermilion County, IL.
Auction Time & Date:
Thursday, 10 AM, June 8th
ONLINE BIDDING AVAILABLE
Auction Location:
Turtle Run Banquet Center
332 E Liberty Ln, Danville, IL 61832
Highly productive tillable land.
Sale is subject to the 2023 crop lease and CRP contracts.
Buyer receives sellers portion of the 2023 crop proceeds.
Open tenancy for 2024.
T2 Average Production History: Corn 213 Bushels; Soybeans 69 Bushels.
T3 Average Production History: Corn 197 Bushels; Soybeans 58 Bushels.
See attached APH sheet.
Tracts will be offered individually. No combination bids.
T1: SOLD, PRE AUCTION
T2: +/- 122 acres in total, +/- 122 effective crop land acres, 122.1 PI.
+/- 1.74 CRP acres expiring the fall of 2026.
The E half of the NW quarter and the W half of the NW quarter of section 5, T22N R11W, Grant TWP.
Vermilion County, IL. Assessor PIN #s: 09-05-100-002(42 Acres); 09-05-100-001 (80 Acres).
2022 payable 2023 real estate tax = $3,825.02 = $31.35 per acre.
T2 buyer will receive 100% of the 2023 cash rent proceeds at closing in the amount of $25,285.97.
T2 buyer will receive the sellers share of the CRP payment issued the fall of 2023 and all payments thereafter.
T3: +/- 76.23 acres in total, +/- 79.11 effective cropland acres, 115.2 PI
Located in part of section 8, T22N R11W, Ross TWP. Vermilion County, IL.
Assessor PIN #s: 09-08-100-003 (36.23 Acres); 09-09-200-003 (40 Acres).
2022 payable 2023 real estate tax = $2,338.84 = $30.68 per acre.
T3 buyer will assume the owners 50% share crop agreement obligation for the 2023 crop year. Buyer input reimbursements for T3, due to seller at closing, in the amount of $9,324.73.
Land Broker and Auctioneer, Travis Selby
IL Lic.# 441001485
217-304-1686
Online Bidding Procedure: The online pre-bidding begins Monday, June 5th, 2023, at 8:00 AM closing Thursday, June 8th, 2023 at the close of live the event.
All bids on the tracts will be visible online, the identity of the bidders is confidential.
Server and Software Technical Issues: In the event there are technical difficulties related to the server, software, or any other online auction-related technologies, Ag Exchange reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor Ag Exchange shall be held responsible for a missed bid or the failure of the software to function properly for any reason. E-mail notification will be sent to registered bidders with updated information as deemed necessary by Ag Exchange.
Auction terms and conditions:
Procedure: Tracts will be offered individually. No combination bids. Bidding shall remain open until the auctioneer announces bidding closed. Auction will be conducted publicly with online bidding available for absentee bidders.
This sale is subject to Owners confirmation. Owner reserves the right to accept or reject any and all bids.
BIDDING IS NOT CONDITIONAL UPON FINANCING.
Acceptance of Bid Prices/Contracts: All successful bidders will sign a sale contract at the auction site immediately following the close of the bidding. Copies of such contracts are available for review at the office of the auctioneer.
Down Payment: A 10% earnest money deposit of the total contract purchase price will be due immediately after being declared the buyer. The down payment may be paid in the form of a personal check, business check, or cashiers check. The balance of the contract purchase price is due at closing.
Closing: Closing shall take place 35 days after auction day, or as soon thereafter as applicable closing documents are completed.
The anticipated closing date is on or before Thursday, July 13th, 2023.
Possession: Possession will be given at closing subject to the 2023 crop lease.
T1 buyers will assume the owners 50% share crop agreement obligation for the 2023 crop year.
T1 buyer input reimbursements, due to seller at closing are in the amount of TBD.
T2 buyer will receive 100% of the 2023 cash rent proceeds at closing in the amount of $25,285.97 at closing.
T3 buyers will assume the owners 50% share crop agreement obligation for the 2023 crop year.
T3 buyer input reimbursements, due to seller at closing are in the amount of $9,324.73.
Title: Sellers shall provide an Owners Policy of Title Insurance in the amount of the purchase price and shall execute a warranty deed conveying to the buyer(s). Sellers shall pay the premium for the Title Insurance Policy and the sellers search charges. Commitments for Title Insurance will be available for review at the office of the auctioneer and at the auction site. Bidders shall be deemed to have reviewed and approved the Title Commitments by submitting bids.
Real Estate Taxes and Assessments: Seller will assume and pay all of the 2022 real estate property taxes due and payable in 2023. Buyer will assume and pay all of the 2023 real estate property tax due and payable in 2024.
Mineral Rights: the sale of the property shall include all mineral rights owned by the seller, if any.
Agency: Ag Exchange Inc. and its representatives are Exclusive Agents of the Seller.
Survey: A new survey shall not be provided, and the sales shall not be subject to a survey. The farms will be sold per deeded acre.
Mineral Rights: The sale of the property shall include all mineral rights owned by the seller, if any.
Agency: Ag Exchange 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 sales contract.
ANNOUNCEMENTS MADE BY THE AUCTIONEER AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.
The property is being sold on an as is basis, and no warranty or representation either expressed or implied, concerning the condition of the property is made by the seller or the auction company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning this property. The information contained in this brochure is believed to be accurate but is subject to verification by all parties relying on it. No liability for its accuracy, errors or omissions is assumed by the sellers or the auction company. All sketches and dimensions in this brochure are approximate. Photographs are used for illustrative purposes only. Conduct at the auction and increments of the bidding are at the discretion of the auctioneer. The sellers and the auction company reserve the right to preclude any person from bidding and to remove any person from the auction if there is any question as to the persons credentials, fitness, conduct, etc. All decisions of the auctioneer are final.
Seller: T1: Carol Ann Carter; T2: John Carter; T3: Carol Ann Carter, Bridget Carter, Mary Hardy, John Carter, and Christopher Carter.
Contact Land Broker and Auctioneer, Travis Selby
IL Lic.# 441001485
217-304-1686
