TERMS:

TERMS & CONDITIONS

Dr. Rex Schulz, Lori Schulz, Don Marold, and Jackie Marold - Real Estate Auction

Rt 100 Stoneypoint Lane  Browning, IL 62617 - Schuyler County

 Legal Descriptions Parcels: 09-26-151-001, 09-27-200-005, 09-26-300-001, 09-27-400-003, 09-27-400-004, 09-27-400-005, 09-27-400-001, 09-34-200-001, and 09-27-400-012,“PROPERTY”)

• Sale Subject to the seller’s confirmation 

• The properties will be sold at Public “Online Only - Internet Auction” ending December 15, 2020 at 7:00pm  CT (soft close) 

o Soft Close or Extended Close: If a bid is placed in the final 3 minutes the bidding time will extend by 3 minutes. This will continue until there has been a time period of 3 minutes with no bidding activity. 

o All properties are grouped or linked together therefore the bidding will be extended and remain open on ALL lots until all bidding is closed. 

• To be approved as an online bidder a signed copy of the terms and conditions along with a signed bidder’s certification must be received and approved by the auction office. 

• The property will be Sold with "Reserve" 

• Property sells as-Is with no warranties expressed or implied 

• Property included in the sale is the real estate only, no personal property assets are included in the sale. 

• The auction is Subject to prior sale (the property can be purchased prior to the end of the auction). 

o Pre-Auction offers can be submitted to the Auction company. 

o All offers must be in accordance to the same terms & conditions of the auction. 

• The seller reserves the right to cancel the auction at any time prior to the final bid closing 

• Buyer’s Premium 

o A 5% buyer’s premium will be added to the final bid and charged to the buyer, the final bid plus the 5% buyer’s premium will establish the final sales price. 

• A $10,000 Down Payment must be paid by the successful bidder by direct wire transfer within 24 hours of acceptance of the auction contract by the Sellers payable to “TBD Title and Escrow, Inc" The down payment deposit will be non-refundable; your bidding is not conditional upon financing, so be sure you are prepared to pay cash at closing or have arranged your financing prior to bidding. The balance of the purchase price including the buyer’s premium will be due via a wire transfer to the closing company, on delivery of insurable title on or before January 29, 2021 Closing.

o A promissory note will be signed along with the down payment. 

• Final closing is NOT contingent upon financing. 

• The property will be conveyed by a Warranty Deed 

• The seller agrees to furnish buyer(s) with an owner’s policy of Title Insurance Policy at closing. 

• Real Estate Taxes: the taxes will be prorated to the day of closing. 

• Closing: 

o Closing shall take place at the office of: “TBD Title and Escrow, Inc" 

o Closing will be held on or before January 29, 2021

• Possession will be granted on day of final closing. 

• The successful Bidder shall execute a “Real Estate Auction Sales Contract” for the property immediately after being declared the Successful Bidder by the Auctioneer. 

• Each potential Bidder is responsible for conducting at their own risk, their own independent inspections, investigations, and due diligence concerning the property.

o Further; Property sells as-is with no warranties expressed or implied 

• United Country Real Estate – Land & Home Sales and Auction and their representatives are exclusive agents of the Seller. 

• Seller: Dr. Rex Schulz, Lori Schulz, Don Marold, and Jackie Marold

• All announcements made up to the final close of the Auction bidding take precedence over all advertising, oral or printed material. 

• All marketing information and PIP materials were gathered from reliable sources and are believed to be correct as of the date they were published; however, the seller or auctioneers have not independently verified this information. Auction plats and drawings are not to be relied on and are for representation purposes only. Its accuracy is not warranted in any way. There is no obligation on the part of the sellers or auctioneer to update this information.

SALE SITE: Internet Only – www.landandhomesales.com 

VIEWING INSTRUCTIONS: You can view the property by appointment. 

The viewing of the property will be at the viewer’s own risk the Seller, neither Auctioneer nor the Listing Agency be held responsible for accidents. 

For questions call: 

Brad Graham at United Country Real Estate - Land & Home Sales and Auction (217) 825-7527

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