PLEASE READ AND REVIEW THE REAL ESTATE TERMS THOROUGHLY PRIOR TO BIDDING ON ANY PROPERTY. IF YOU HAVE NOT READ AND UNDERSTAND THESE TERMS, DO NOT BID. BY BIDDING ON THE PROPERTY, BUYER AGREES TO ALL TERMS AND CONDITIONS SET FORTH AND ENTERS INTO A CONTRACTUAL AGREEMENT TO PURCHASE THE PROPERTY UNDER THE FOLLOWING TERMS AND CONDITIONS:
ONLINE BIDDING: AUCTION DATE / TIME: Bidding begins: October 18, 2023 @ 12 NOON (CT); Bidding closes: November 1, 2023 @ 5:30 PM (CT) (**See AUCTION END TIMES). Bidding will be conducted online at www.wilsonauctions.com. Alternatively, to place a confidential phone bid or to make other arrangements for bidding, please contact our office at least two days prior to the auction.
UPON CONCLUSION OF THE AUCTION: The Winning Bidder will be sent a Real Estate Contract to print and is required to fully and correctly complete and properly sign without any modifications. Bidder is to return the completed, signed contract to William Wilson Auction Realty, Inc. by email, fax, certified mail or delivered in person by 4:00 PM of the day following the auction. Along with the completed, signed contract, the Winning Bidder will be required to send the specified non-refundable earnest money deposit as stated in the property description. This non-refundable earnest money deposit will be held in escrow until closing and that amount will then be credited to the Buyer as part of the purchase price of the property. Wire transfer instructions and escrow agreement forms will be provided to the Buyer along with the contract after the auction. Purchaser shall be responsible for all wire transfer fees. Successful bidders not executing and returning the completed contract and earnest money deposit by 4:00 PM the day after the auction will be considered in default. Such default by the Successful Bidder will result in that Bidder’s liability to both the Seller and William Wilson Auction Realty, Inc. Seller shall have the right to (a) declare this contractual agreement canceled and recover full damage for its breach, (b) to elect to affirm this contractual agreement and enforce its specific performance or (c) Seller can resell the property either publicly or privately with William Wilson Auction Realty, Inc. and in such an event, the Buyer shall be liable for payment of any deficiency realized from the second sale plus all costs, including, but not limited to the holding costs of the property, the expenses of both sales, legal and incidental damages of both the Seller and William Wilson Auction Realty, Inc. In addition, William Wilson Auction Realty, Inc. also reserves the right to recover any damages separately from the breach of the Buyer. Both the Successful Bidder and Seller shall indemnify William Wilson Auction Realty, Inc. for and hold harmless William Wilson Auction Realty, Inc. from any costs, losses, liabilities, or expenses, including attorney fees resulting from William Wilson Auction Realty, Inc. being named as a party to any legal action resulting from either Bidders or Sellers failure to fulfill any obligations and undertakings as set forth in this contractual agreement.
REAL ESTATE TERMS: PROCEDURE: The real estate will be offered in 4 tract(s), combinations or tracts, and the entirety via online only bidding. There will be open bidding during the auction as determined by the Auctioneer.  Conduct of the auction and increments of bidding are at the discretion of the auctioneer.  All decisions of the Auctioneer are final.
DOWN PAYMENT: A 10% down payment is due on the day of the auction with the balance due at closing.  The down payment may be in the form of cash, cashier’s check, personal check or corporate check.  Bidding is not conditional upon financing. Bidders should arrange for financing, if needed, and be capable of paying cash at closing.
BUYER’S PREMIUM: A 5% Buyer’s Premium will be added to the high bid to determine the contract sale price.
ACCEPTANCE OF BID: Successful bidder will be required to enter into a Purchase Agreement at the auction site immediately following the close of the auction.  The Real Estate is being sold subject to the approval of the Seller.
DEED: Seller shall provide a sufficient deed conveying title to the property.
CLOSING: The balance of the purchase price is due at closing, which will take place within 30 days of the presentation of insurable title.
POSSESSION: Buyer will receive possession to the property at closing subject to farm tenants’ rights for the 2023 crop year, with buyer having farming rights for 2024.
REAL ESTATE TAXES: The real estate taxes will be the responsibility of the buyer beginning MAY 2024, and thereafter.  
ACREAGE: All tract acreages, dimensions, and proposed boundaries outlined on the auction plat and all advertising are approximate and are estimated based on current legal descriptions and/or aerial photos.  Purchaser should make his/her own independent determination of acreage prior to bidding.  
MINERALS: Seller will convey all minerals owned.
SURVEY: If a survey is deemed necessary to establish a new legal description, the cost of the survey will be shared 50/50 between the seller and buyer.