Auction Associates Highland Illinois
Virgil Straeter, Auctioneer
Real Estate Sealed Bid, Webcast and Live Bidding Terms & Conditions
Property Address: 3503 Lee Rd., Trenton, IL. 62294
Property Preview: August, 27, 10 AM – 2 PM
Auction Closing: September 26, 2022, 6:00 PM
This auction will be simulcast, and Bids will be accepted live onsite or online.
Due to the interest received, we will be conducting a “Sealed Bid” auction, prior to the above date and time. Sealed Bid packages will be available on request, to be received at Auction Associates, P.O. Box 435, Highland, IL. 62249, or in person, no later than Sept. 17th. 2022
NOTICE: The ability to bid in advance by Sealed Bid, will advise the Seller(s) of the interest level of dividing the property currently offered in one tract. Potential Bidders may bid on any combination of Tracts one, two or three Only those submitting Sealed Bids will be recognized in this bidding process. If the level of interest isn’t strong enough, based on the Sellers opinion, the auction on Sept. 26th. At 6 pm will be limited to a single parcel. A decision related to the above will be determined by Sept. 20th. And a notice and/or contact will be made to all those who registered and submitted a Sealed Bid
For the sake of clarification, if you are only interested in the Homeplace, or only interested in one or both of the tillable tracts, you must submit your highest and best bid via Sealed Bid. You may also submit a Sealed Bid for the total Property of all three Tracts. Potential Bidders wanting a one or a combination must submit a Sealed Bid as detailed above.
For further information or an appointment call Virgil Straeter, Auctioneer at 618-210-1222
By registering to bid online or participating in the live auction for Real Estate, Bidders agree to adhere to the following Terms and Conditions specific to this auction and in addition to Auction Associates Standard Terms and Conditions.
Bidders should refer to the marketing flyer for specific terms of the auction.
- Online (Simulcast) Auction registration must be made at least 72 hours before the auction starts (Sept. 26, 2022, 6 PM - Start). All Real Estate bidders must supply valid identification and establish credit with the Auction Company prior to bidding online. Credit authorization may be made by calling 618-210-1222.
- Live Auction participants may register for the auction on site. Live Bidder registration begins Sept. 26 at 5 PM. Bidding will begin at 6:00 PM and ends when the final high bid is accepted or rejected by the Seller.
- Credit card deposits or transactions will be charged a 3% convenience fee.
- Real Estate is sold “As Is”, with no warranties or guarantees, express or implied, made by the Seller, Auctioneer or Auction Company.
- By bidding for Real Estate online or in person, the bidder shows acceptance of the terms of the auction and acceptance of the Real Estate being bid on and confirms the individual ability and funding/financing to proceed to close within 30 days.
- No bidder shall retract their bid for any reason, once accepted by Auctioneer. Bids are irrevocable.
- Bidders accept responsibility to conduct necessary ‘due diligence on the property prior to the auction and rely solely on their own judgment when bidding.
- All Statements at Auction take precedence over printed material.
- The information presented is believed to be from reliable sources. Auction Company and Seller make no representations of the accuracy of information.
- Online Bidders are required to make an Earnest money deposit of $500.00 to Auction Company No Later than Sept. 23rd, at 4 PM, 72 hours prior to auction via bank wire transfer or charged to a credit card. This deposit will be applied to the deposit of the winning Bidder or refunded if not the successful Bidder. Contact (618)210-1222 for wiring instructions or to make payment.
- The winning bidder will immediately upon announcement of sale make a deposit of $5,000.00 via certified check, wire transfer, or credit card and execute the Sale Contract signed by the Buyer and Seller at Auction or immediately after auction close in person or through Adobe Document Sign.
- The successful high bidder will be announced at the end of the auction and is expected to cooperate fully with the Auction Company and title insurance company about signing and completing the sales contract, disclosures (if applicable), and any paperwork necessary to complete the sale, whether via overnight mail, standard mail, electronic communication, fax, or in person. Online bidders agree to execute the agreement through online Adobe Sign immediately after receipt of the same date as the auction ending, Sept. 26, 2022, no later than 7 PM.
- Payment is due in full at Closing anticipated within 30 days of the Auction.
- Real Estate Taxes are pro-rated to the closing date based on the prior-year tax statement.
- If bidder breaches or defaults any portion of the terms & conditions of auction, bidder agrees to pay all charges and expenses incurred by Auction Company, including, without limitation, reasonable attorney’s fees, and deficiencies and re-marketing expenses resulting from the resale of the item(s) or property.
Disclaimer: GRS Appraisal & Auction Services, LLC is only acting as the website and bidding platform host for the real estate auction and is not the Auctioneer. The Auctioneer for this auction is Virgil Straeter of Auction Associates.