Farmland Auction | Thursday, November 21, 2019 at 10 AM Central
Edgar County, IL
100 +/- Acres of Highly Productive Farmland in Young America East Township
Thursday, November 21, 2019 – 10 AM Central
Auction Location: Hume Community Center, 101 Front St., Hume, IL.
Directions to Auction Site: From intersection of US Highway 36 & Center St. in Hume, travel north 4 blocks on Center St. to Front St., turn west on Front St., the community center is on the south side of Front St.
Directions to Property: From Hume, IL travel west on US Highway 36 1 mile, to CR 500E, travel north 5 miles on CR 500E to CR 2700N, travel east 1.2 miles on CR 2700N to property on the south side of road. Watch for signs.
Property Description: 100 +/- acres of highly productive farmland located in Section 8 of Young America East Township. According to Edgar County FSA Office this tract consists of 101.86 effective DCP cropland with 75.64 tillable acres classified NHEL & 26.22 tillable acres classified HEL with 51.3 acres corn base, 48.7 acres soybean base; PLC-yield of 144 for corn, 46 for soybeans. This farm has excellent all weather road frontage on the north boundary. The Productivity Index (PI) for the soils on this tract is 137.6.
Property Inspection: Auction Company arranged on-site inspections of this property available by appointment. Please contact Auction Company at 217-465-4545. Individual on-site inspection by prospective buyers are permitted via foot traffic only. Please no motored vehicles.
Tenant Rights: Tenant rights are open for the 2020 crop year.
Real Estate Taxes: The 2018 real estate taxes paid in 2019 were $3,356.74 or $33.57/acre.
Auction Terms and Conditions
Auction Procedure: This property will be offered in one tract on a per acre basis. The final bid price is subject to the Seller’s acceptance or rejection.
Down Payment: Ten percent (10%) down payment on the day of the auction upon signing a purchase agreement immediately following the close of the auction. The down payment can be paid by personal check, corporate check or cashier’s check. The remaining balance will be due on or before December 23, 2019 at the closing with delivery of deed. Property is being sold subject to any easements or right of ways of public record. Bidders should keep in mind that your bidding is not conditional to financing, so make certain that you have arranged financing if you need it.
Possession: Buyer will receive full possession at the time of closing.
Acceptance of bid prices: The successful bidder will be required to sign purchase agreement at the auction site immediately following the close of the auction. The final bid price is subject to the Seller’s acceptance or rejection.
Title: Seller will offer title insurance on the property being offered in the auction. The Seller shall pay any search and closing costs that are customarily associated for a seller. The Purchaser shall pay closing costs that are customarily associated with a real estate purchase. Both the Seller and the Purchaser shall each pay one-half (1/2) of the fees of the closing agent. Upon full receipt of the entire purchase price by Seller, Seller shall deliver to Buyer a Deed conveying title in and to the property to the Purchaser.
Real Estate Taxes: The Seller shall give the Buyer a credit at the time of closing based upon the most recently ascertainable tax figure available at closing. Buyer will assume all real estate taxes payable in 2020 and thereafter.
Mineral Rights: Buyer will receive mineral rights owned by the seller.
Legal Questions: Legal questions may be directed to attorney Robert Anderson of Anderson Law Offices in Paris. 217-465-3535
Agency: Moss Auction Team and their staff are exclusive agents for the Seller.
Auction Company Note: Announcements on Sale day take precedence over printed material or any other oral statement made.
Disclaimer and Absence of Warranties: The property is being sold on an “as is, where is, with all faults” basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. Each potential buyer is responsible for conducting his or her own independent inspections, investigations and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. The auction procedure, conduct, and bid increments are at the direction and discretion of the Auctioneer. The Seller and the Auctioneer reserve the right to preclude any persons from bidding if there is any question as to the person’s credentials, fitness, etc. Auctioneer has final decision on all matters pertaining to this auction.
Seller: Andrew Family Farm Trust
MOSS AUCTION TEAM, LLC
Paris, IL 217-465-4545