Terms & Conditions
PROCEDURE: The property will be offered in one tract. The property is available for online bid only at www.MurrayWiseAssociates.com beginning Tuesday, September 7th, 2021 at 10:00AM CDT. Bidding will be on a dollars per acre basis and the final purchase price will be determined by multiplying the high bid by 186.97 acres.
REGISTRATION: To register to bid online visit www.MurrayWiseAssociates.com. Once the online application is filled out it will be automatically sent to Murray Wise Associates for approval to allow bidding. Auction company may request a letter of recommendation from prospective bidder’s financial institution stating funds are available for the 10% deposit and that bidder has the financial capacity for final purchase.
ACCEPTANCE OF BID PRICES: Bidding ends Wednesday, September 8th, 2021 at 1:00PM CDT with a “soft close”, meaning that a high bid placed on the tract within the final 3 minutes of bidding will extend bidding for an additional 3 minutes on the tract. The final bid and Purchase Agreement are subject to acceptance or rejection by the Seller. Winning bidder will enter into a Contract to Purchase immediately upon being declared the Successful Bidder by the Auctioneer for approval or rejection by the Seller. Upon the close of the auction the winning bidder will either sign the Contract to Purchase in DocuSign, or be forwarded via email or fax a Contract to Purchase. A signed copy of the contract must be returned and received by Murray Wise Associates LLC on or before 3:00PM CDT, Thursday, September 9th, 2021 (faxed to (217) 352-9381 or scanned and emailed to firstname.lastname@example.org).
DOWN PAYMENT: A 10% non-refundable down payment of the total contract purchase price will be due within 24 hours of the close of the auction from the winning bidder. The down payment may be paid in the form of wire transfer, personal check, business check or cashier’s check. Should the winning bidder not be approved by the Seller, the down payment shall be returned to Bidder as soon as practicable. The balance of the contract purchase price is due in cash at closing. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING.
CLOSING: The closing shall take place on or before October 6th, 2021.
POSSESSION: Possession will be given at closing, subject to the remaining rights of the current tenant under the 2021 crop lease, which expires on February 28, 2022.
TITLE: Seller will provide a proper deed conveying merchantable title to the real estate to the successful buyer free and clear of liens.
REAL ESTATE TAXES & ASSESSMENTS: The 2021 calendar year taxes due and payable in 2021 shall be paid by seller in the form of a credit at closing. The most recent tax figures available will be used to determine the amount of the credit. The 2022 calendar year taxes and beyond will be the responsibility of the buyer.
SURVEY: Seller will not be providing a survey.
MINERAL RIGHTS: The sale shall include any and all mineral rights owned by the Seller, if any.
ACREAGES: All acreages are approximate and have been estimated based upon current legal descriptions, FSA records and aerial mapping software.
EASEMENTS & LEASES: The sale is subject to any and all easements and leases of record.
DISCLAIMER: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the agreement to purchase. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either express or implied, concerning the property is made by the Seller or Murray Wise Associates LLC. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is believed to be accurate but is subject to verification by all parties relying on it. No liability for its accuracy, errors or omissions is assumed by the Seller or Murray Wise Associates LLC. All sketches and dimensions in this brochure are approximate. All acreages are approximate and have been estimated based on legal descriptions or aerial photographs. Conduct at the final round of bidding and increments of bidding are at the direction and discretion of the seller’s agent. The Seller and Murray Wise Associates LLC reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc. Under no circumstances shall Bidder have any kind of claim against Murray Wise Associates LLC, or anyone else if the internet service fails to work correctly before or during the auction.
AGENCY: Murray Wise Associates LLC and its representatives are exclusive agents of the Seller.
SELLER: Hiram M & Ada M Drache Unitrust No 1-2&3; Concordia College Corp, Trustee