THIS IS A COMPLETED SALE
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Friday, June 30th 2 Tracts Greenup, IL Real Estate
Previous Page Listing ID#: 1516621
Auction Location |
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Greenup, IL 62428 |
Auction Dates and Times |
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Bidding Starts: Sunday May 21 Bidding Ends: Friday Jun 30 |
Auction Type |
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Online Auction VIEW ONLINE CATALOG |
Company Information |
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Bauer Auction Service,LLC Contact: Hank Bauer Phone: 217-259-5956 Email: hank@bauerauction.com Website: www.bauerauction.com GoToAuction.com ID#: 4011 View company information and listings |
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Listing Terms and Conditions |
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TERMS AND CONDITIONS
Online Real Estate Auction
Please review this document carefully. This document creates certain legally binding contractual obligations.
In order to register and receive access to the interactive online bidding platform, a Bidder must accept and acknowledge these Terms and Conditions.
1. Any bid placed shall constitute a legally binding and enforceable offer to purchase the subject real estate. All bids therefore constitute an irrevocable offer to purchase and shall remain valid and enforceable until the Seller declares the property "Sold" and the auction has concluded.
2. Auctioneer reserves the right to reject or cancel any bid placed. Auctioneer agrees to timely advise any bidder of a rejected bid.
3. The Winning Bidder covenants and agrees to consummate the purchase of the subject real estate at the price of the winning bid, and upon the terms and conditions hereinafter provided.
4. Within 48 hours of the close of the auction event, the Winning Bidder for the property will be required to execute, as Buyer ("Buyer"), the Real Estate Purchase Agreement and applicable Addendums, if any, ("Agreement") with no exceptions, and tender the earnest money deposit.
5. No modifications to the form of the Real Estate Purchase Agreement will be accepted. The general terms of the Real Estate Purchase Agreement are available for review at the request of any bidder, and are available for download through Auctioneer's website.
6. Failure to execute the Real Estate Purchase Agreement shall be considered an act of default by the Winning Bidder, and the Seller shall be entitled to pursue any and all legal and equitable remedies against the Winning Bidder which are available to Seller pursuant to the laws of the jurisdiction of the State of Illinois. In the event that Seller and/or Auctioneer file suit against Winning Bidder, Seller and/or Auctioneer shall be entitled to recover all reasonable attorneys' fees, costs and expenses incurred.
7. Failure to execute the Real Estate Purchase Agreement in the form presented or to tender the earnest money deposit within 48 hours from the close of the auction event shall result in a $1,000 Administrative Fee as liquidated damages. The parties acknowledge that the amount of damages to Seller and Auctioneer as a result of default of the Winning Bidder is incapable of precise calculation, and the Administrative Fee shall constitute liquidated damages incurred as a result of Winning Bidder's default and not a penalty. All Administrative Fees are non-refundable. Back-up bids will be recorded and received. Should the Property not close with the original Winning Bidder (Buyer), the Seller in its sole discretion will have the option to pursue back-up bids.
8. The required earnest money deposit shall be held in an account with the Seller's designated closing agent pursuant to the terms of the Agreement. The Earnest Money Deposit shall be equal to 10 percent (10%) of the Total Purchase Price and is NON-REFUNDABLE.
9. The Closing date ("Closing") for the conveyance of the realty and the consummation of the transaction will be on or before 30 days following the closing of bids unless extended by the mutual agreement of the Seller and the Winning Bidder.
10. The Total Purchase Price will be due and payable by Buyer at Closing with Cashier's Check from an F.D.I.C. insured institution in U.S. Funds (payable to the Seller) or by Wire Transfer of immediate funds, pursuant to instructions from the Settlement Agent.
11. Buyer shall receive credit for the Earnest Money Deposit which shall be released from escrow and applied by the Settlement Agent towards the Total Purchase Price at Closing.
12. Time shall be of the essence as to all of Buyer's obligations.
13. Any Winning Bidder not closing within the contractual time period to close shall forfeit his/her earnest money, in the nature of liquidated damages. Please review the Seller's Sample Real Estate Purchase Agreement to determine closing requirements.
14. It is understood and agreed, when represented, that title to the property shall be insurable after closing and will be conveyed to the Buyer by Special Warranty Deed (the "Deed"). The acceptance of the Deed by Buyer shall constitute and be deemed and considered full compliance by the Seller of all the terms and conditions of the Agreement on the part of the Seller to be performed. It is further expressly agreed that none of the provisions of the Agreement shall survive the delivery and acceptance of the Deed, except insofar as may therein otherwise be expressly and specifically provided.
15. Winning Bidder acknowledges that the Property is subject to all laws, ordinances, codes, rules and regulations of applicable governmental authorities pertaining to the ownership, use and occupancy of the Property including, but not limited to, zoning, land use, building codes, and agrees to take title subject to such matters, and the following permitted exceptions: (i) all covenants, restrictions, easements and agreements of record now on the Real Property; (ii) the state of facts which would be shown by a current survey or inspection of the Real Property; (iii) any matter created by or through Buyer; (iv) any title matters which Buyer has accepted or is deemed to have accepted as set forth in the Agreement; (v) such other items that will not make the Real Property unusable or unmarketable for the purposes for which it is currently used.
16. The Seller, Broker, Auctioneer and their representatives, attorneys, agents, and sub-agents, assume no liability for errors or omissions in this or any other property listing or advertising or promotional/publicity statements and material. The Seller, Broker, Auctioneer and their representatives, attorneys, agents and sub-agents, make no guarantee as to the accuracy of the information herein contained or in any other property listing or advertising or promotional/publicity statements and material.
17. The Property is sold in its "AS IS" condition with all faults and limitations and no warranties expressed or implied. All Bidders are encouraged to inspect the Property prior to placing any bid and the Winning Bidder, as Buyer, acknowledges that he/she/it has had a reasonable opportunity to inspect and examine the condition of the Property and make inquiries of applicable governmental authorities pertaining to Buyer's proposed use of the Property prior to the Auction as Buyer has deemed necessary or desirable. All information was derived from sources believed to be correct, but is not guaranteed. Bidders shall rely entirely on their own information, judgment, and inspection of the Property and records.
18. By registering and bidding, the Buyer acknowledges they understand accept and agree to these Terms and Conditions. The Buyer acknowledges that they have had ample opportunity to read the Sample Real Estate Purchase Agreement and Addendum and the Terms and Conditions of the Auction Sale posted on the website and accept the Real Estate Purchase Agreement without any changes to the pre-printed text.
19. By registering and bidding, the Buyer acknowledges that they have submitted themselves to the personal jurisdiction of the State of Illinois. Buyer acknowledges that any and all disputes shall be governed by Illinois Law, conflicts of laws provisions notwithstanding, and that any and all litigation associated with any purchase and sale hereunder shall be filed in the Fifth Judicial Circuit, Coles County, Charleston, Illinois.
20. Seller and Auctioneer cannot, and will not, be held responsible for any interruption in service, errors, and/or omissions, caused by any means, therefore they cannot guarantee continual, uninterrupted or error free service as the website could be interfered with by means out of their control. Bidder acknowledges that the online auction is conducted electronically and relies on hardware and software that may malfunction without warning.
21. Auctioneer acts solely as an agent for Seller and is not a party to any contract for the consummation of the real estate transaction.
22. The Registered Bidder acknowledges receipt and copy of these Terms and Conditions, and having read and understood the provisions set forth therein, accepts same and agrees to be bound thereby.
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Listing Information |
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Country Home with 8 Acres -
56 Acres Farm / Recreation Land
7 miles South of Greenup on RT130, to 200 N, West on 200N 4.7 miles to 1550 E, South 6 Miles on 1550 E, to 75N and West 6.5 miles on 75N to 1500E, South to curve to 50N, West to home
Bidding Begins Closing: Friday, June 30th - - 7:00 PM
Cumberland County - Greenup Township
Tract 1: PIN 13-33-200-011
" 3 Bedroom Ranch Home on 8.13 Acres, with full basement, sun room, attached double garage.
" *Note: Home has not been lived in or maintained for 10 years. Home is selling as-is.
" 60' x 54' Pole Barn w/concrete floor
" Stocked Pond
" Older Wood Framed Livestock Barn, Portable Shed, Nice shade trees
Farming - - Hunting - - Recreation
Tract II: PIN 13-33-200-010
" 56.87 Acres
" Approx. 22 tillable acres with the balance of the farmland in timber
" There is a recorded easement for access to tract II through tract I
Herschel Ward Estate
Virginia Ward, Seller
Open House: Monday, June 5th 5:00pm to 6:00pm
Monday, June 12th 5:00pm to 6:00pm
Saturday, June 24th 11:00am to 12:00 Noon
GPS Address: 1469 CO RD 50N, Greenup, IL 62428
Tract I & Tract II will be two seperate sales. The only way to have ownership of both Tract I and Tract II is to have the last/high bid on the individual tracts. Call Hank at 217-259-5956 or Jessie at 217-273-0274 with any questions.
Customary Real Estate Auction Terms: 10% Down Payment due upon auction close with arrangements to be made by auctioneer and successful bidder. Buyer's Premium: 5% Buyers Premium. Balance, Possession with exception of Tenants Farming Rights for 2023, Closing on or within 30 days for the Real Estate. Paperwork will be handled by Crites Title Company.
Bauer Auction Service, LLC
1 Tract I: 8.13 Acres w/ Home, Pole Barn, Pond 8.13 acres sold in its entirety, all for one money PIN: 13-33-200-011 Improvements: 60' x 54' Pole Barn w/ concrete floor 3 Bedroom Ranch Home with Attached 2 car garage, sun room, full basement, single bath ** Note: Home has not been lived in or m... 2 Tract II: 56.87 Acres Cumberland County, IL Land Sold by the acre. Your bid will be multiplied by 56.87 acres to get a total hammer price. PIN: 13-33-200-010 Farm Service Agency is reporting 63.54 farmland total on both tracts Approx. 22 tillable cropland acres with the balance of the farmland i... |
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