Property Description
Farmland Auction
THURSDAY, NOVEMBER 12th, 10AM
+/- 121 Acres offered in 3 Tracts, Vermilion County IL.
Part of sections 2 and 12, T18N – R13W, Catlin TWP.
Auction Location:
Georgetown Fair Banquet Center
413 N Seminary Street
Georgetown, IL. 61846
Vermilion County, IL. Farmland
Highly Productive, Class A Soils
Drummer and Flanagan Soils
Open Farm Tenancy
Farm Site Address: 8000 E 1200 North Rd. Fairmount, IL. 61841
T1, T2 and T3 will be offered individually.
T1: +/- 31 acres, 142.8 PI
Part of the SE ¼ of the SE ¼ of Section 2, T18N - R13W CATLIN TWP.
Assessor Parcel #: 26-02-400-003 (31 Acres)
2019 payable 2020 real estate tax: $1,694.80
T2: +/- 80 acres, 143.4 PI
The W ½ of the NE ¼ of Section 12, T18N - R13W Catlin TWP.
Assessor Parcel #’s: 26-12-200-001 (North 40 Acres) and
26-12-200-003 (South 40 Acres).
2019 payable 2020 real estate tax: $4,687.68
T3: +/- 10 acres, 144 PI.
The S ½ of the N ½ of the SW ¼ of the NW ¼ of Section 12, T18N - R13W Catlin TWP.
Assessor Parcel #: 26-12-100-007 (10 Acres).
2019 payable 2020 real estate tax: $589.36
Contact Auctioneer Travis Selby
IL Lic.# 441001485
Ag Exchange Farm Real Estate
217-304-1686
travis@agexchange.com
WWW.AGEXCHANGE.COM
Auction terms and conditions:
Procedure:
Property will be offered in 3 individual tracts. Bidding will remain open until auctioneer announces, “bidding closed”.
T1: +/- 31 Acres, T2: +/- 80 Acres, T3: +/- 10 Acres.
BIDDING IS NOT CONDITIONAL UPON FINANCING.
SELLER RESERVES THE RIGHT TO ACCEPT OR REJECT ANY AND ALL BIDS.
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 cashier’s check. The balance of the contract purchase price is due at closing.
Closing: Closing shall take place 55 days after auction day, or as soon thereafter as applicable closing documents are completed.
Anticipated closing date is on or before January 6th, 2021.
Possession: Possession will be given at closing.
Title: Sellers shall provide an Owner’s 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 2020 real estate property taxes payable in 2021.
Survey: Seller shall not provide a survey, and the sale shall not be subject to a survey.
Tract acreage is approximate and has been determined by deeds, legal description, and aerial photographs.
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 person’s credentials, fitness, conduct, etc. All decisions of the auctioneer are final.
Seller: Fred A. Cast Jr., John M. Cast, and Brian L. Cast
