Terms & Conditions
Auction Date & Location: Martin Auction Services, L.L.C. ("Auctioneer") will offer the property for sale at public auction, the property is listed in this brochure. The Auctioneer will represent the Seller at this event. This auction will take place on Tuesday, January 21st, 2025 at 10 A.M. at Martin Auction Center, 9515 Texas Church Rd., Clinton, IL. Auction registration will begin at 9 a.m.
Bidder Registration: All bidders will be required to register to bid at the auction.
Auction Procedures: Conduct of the auction will be the sole discretion of the Auctioneer. This property will be bid on "by the acre", the Auctioneer has the right to reject any bids and will be the final authority as to the bidding increments. Auctioneer reserves the right and authority to eject any person from the auction for any reasonable grounds deemed appropriate by the Auctioneer. Announcements made by the Auctioneer at the auction will supersede any prior written or oral information. Any Bidders unknown to the Auction Company should provide a pre-approval letter 48 hours in advance of the auction for their bidding to be turned on and bids to be accepted.
Real Estate Sales Contract: The property is offered for sale on and subject to the terms and conditions contained in the Real Estate Sales Contract. A copy of the contract may be found on-line at www.martinauction.com or one may be obtained from the Auctioneer prior to the auction for review. The terms of the Sales Contract supersede any conflicting terms of sale contained herein. Bidders and their attorney should review the sales contract prior to the auction.
Winning Bidder: Each winning bidder will be required to
a.) place a non-refundable down-payment equal to 10% of the total purchase price of the land in the form of a check to the Auctioneer,
b.) Enter into a Sales Contract with the seller for the prospective property. Closing of the auction will occur by February 21st, 2025, unless otherwise mutually agreed upon by the Seller and Bidder. A title policy will be provided to the successful bidder at closing. See the contract for Possession details.
c.) Seller will pay the 2024 taxes; the buyer will assume all taxes thereafter. Seller will provide a title policy for the property.
d.) Buyer will have possession at closing.
Financing: This property is not contingent upon the Purchaser's ability to obtain financing.
Possession: 2025 farming rights are included.
Additional Information: Supporting property information is available from the Auction Company prior to the Auction. All data is believed to be correct but is subject to bidder verification. All items are subject to the terms found within the Real Estate Contract. Information contained within this brochure, any bidder information packages or the website has been obtained from the Seller and other sources deemed to be reliable. However, neither the Seller, Auctioneer nor their agents make any representations or warranties as to the accuracy or completeness of this information. Each prospective bidder must undertake and rely on his or her own investigation of the property.
Exclusion of Property: Martin Auction Services, L.L.C. and the Seller reserves the right to withdraw any property before or during the auction, and to sell any property prior to the auction without notice.
Additional Conditions: Seller and Auctioneer reserve the absolute right in their sole discretion to amend these procedures, terms, and conditions at or before the auction. To the extent there is any conflict between the provisions of these procedures, terms, and conditions as set forth herein and in any Sales Contract, the terms of the Contract shall govern.
Auctioneer has the right, in his sole discretion to postpone, or cancel the auction in whole or in part and to modify or add any terms and conditions of the auction and to announce such modifications or additional terms and conditions prior to or during the auction.
All bidders acknowledge that the Auctioneer does NOT have an ownership interest in the property and therefore all bidders acknowledge that the Auctioneer is NOT responsible for any actions or inactions by the Seller regarding the Sellers obligations under the Sales Contract.
Except as expressly stated in this document, these procedures, terms and conditions do not create any legal obligations on auctioneer or the seller. If auctioneer or the seller fails to comply with any of these procedures, terms and conditions for any reason, neither the auctioneer nor the seller shall have any liability or obligation whatsoever. These procedures, terms and conditions nevertheless are binding upon and must be complied with by any person or entity submitting a bid. The Seller will be bound only by the provisions of the actual Sales Contract as and when executed and delivered by each party thereto.
All attached images and maps are not to scale and should not be relied upon for any true measurements or boundary lines. P.I Chart shows approximate acres and approximate weighted productivity index as described by the University of Illinois.
All maps are not to scale, any information used is considered to be correct, however, it is 100% up to the bidder or buyer to make their own inspections and verify any data presented.
2% buyers premium for online bidders. NO buyers premium to bidders in person at the auction venue.