Gottschalk Farm Auction
158.06 Acre Farm located 2 miles east of Anchor, Illinois
Top Soils
AUCTION TERMS AND CONDITIONS
Gladys Gottschalk Farm Auction
September 28, 2023
PROCEDURE: This farm is offered in one tract of 158.06 acres, more or less, per tax records. Bidding will be on-line only.
Online Bidding: Online bidders must register at www.wallaceland.com prior to the auction. By registering to bid online you agree to abide by the Auction Terms and Conditions. If you are the successful bidder, you will be required to sign a real estate contract with Marc Miller, attorney for the sellers. Bidding will conclude at 8:00 PM CDST on Thursday, September 28, 2023, UNLESS a bid occurs within 5 minutes prior to that time. If that happens, the auction is automatically extended an additional 5 minutes. This continues until a full 5 minutes pass without a bid. At that time, the auction is ended. THIS FARM WILL SELL TO THE HIGHEST BIDDER UPON APPROVAL BY SELLER.
DOWN PAYMENT: A 10% down payment is due upon signing the real estate contract. If the Buyer defaults on the purchase, the down payment will not be refunded. THIS AUCTION IS NOT CONTINGENT UPON FINANCING.
CLOSING: Closing will occur in 30 days or less.
POSSESSION: The current owner and tenant will retain the 2023 crop and will pay all 2023 crop expenses. The current lease will be terminated prior to the auction date. The buyer will have access to the farm after the 2023 crop is harvested to perform fall tillage.
REAL ESTATE TAXES: The 2023 real estate taxes payable in 2024 will be paid by seller via adjustments at closing using the most current tax information available. All subsequent taxes will be paid by the buyer.
TITLE: Seller will furnish the successful bidder an Owner’s Policy of Title Insurance in the amount of the purchase price and will provide an adequate deed, subject to standard exemptions, conveying ownership of the real estate to the buyer.
DISCLAIMER AND ABSENCE OF WARRANTIES: THIS PROPERTY IS BEING SOLD ON AN “AS IS” BASIS, and no warranty or representation, either express or implied, concerning the property is made by either the seller or the auction company. Each bidder is responsible for conducting his/her own independent inspections, investigations, and all due diligence concerning the property and the auction.
AGENCY DISCLOSURE: In this auction, the auction company, staff, and auctioneer are sellers’ agents and have a fiduciary duty only to the sellers.
All acreages are assumed to be correct but are not guaranteed by the auction company. Bidders should do their own investigations and due diligence.
Gladys Gottschalk Farm Auction
September 28, 2023
PROCEDURE: This farm is offered in one tract of 158.06 acres, more or less, per tax records. Bidding will be on-line only.
Online Bidding: Online bidders must register at www.wallaceland.com prior to the auction. By registering to bid online you agree to abide by the Auction Terms and Conditions. If you are the successful bidder, you will be required to sign a real estate contract with Marc Miller, attorney for the sellers. Bidding will conclude at 8:00 PM CDST on Thursday, September 28, 2023, UNLESS a bid occurs within 5 minutes prior to that time. If that happens, the auction is automatically extended an additional 5 minutes. This continues until a full 5 minutes pass without a bid. At that time, the auction is ended. THIS FARM WILL SELL TO THE HIGHEST BIDDER UPON APPROVAL BY SELLER.
DOWN PAYMENT: A 10% down payment is due upon signing the real estate contract. If the Buyer defaults on the purchase, the down payment will not be refunded. THIS AUCTION IS NOT CONTINGENT UPON FINANCING.
CLOSING: Closing will occur in 30 days or less.
POSSESSION: The current owner and tenant will retain the 2023 crop and will pay all 2023 crop expenses. The current lease will be terminated prior to the auction date. The buyer will have access to the farm after the 2023 crop is harvested to perform fall tillage.
REAL ESTATE TAXES: The 2023 real estate taxes payable in 2024 will be paid by seller via adjustments at closing using the most current tax information available. All subsequent taxes will be paid by the buyer.
TITLE: Seller will furnish the successful bidder an Owner’s Policy of Title Insurance in the amount of the purchase price and will provide an adequate deed, subject to standard exemptions, conveying ownership of the real estate to the buyer.
DISCLAIMER AND ABSENCE OF WARRANTIES: THIS PROPERTY IS BEING SOLD ON AN “AS IS” BASIS, and no warranty or representation, either express or implied, concerning the property is made by either the seller or the auction company. Each bidder is responsible for conducting his/her own independent inspections, investigations, and all due diligence concerning the property and the auction.
AGENCY DISCLOSURE: In this auction, the auction company, staff, and auctioneer are sellers’ agents and have a fiduciary duty only to the sellers.
All acreages are assumed to be correct but are not guaranteed by the auction company. Bidders should do their own investigations and due diligence.
Overview
Under Contract: No