AUCTION TERMS AND CONDITIONS

Bidding information: This is an internet-only auction. All bidding is online. Property sold AS-IS. Seller reserves the right to accept or reject the high bid. Bidding will begin a soft close 5 minutes before the lot is due to end and until bidding ceases. A soft close is a bidding feature that allows a Bidder extra time to submit a bid if they are outbid during the final five minutes of bidding. During a soft close, the remaining bid time will be reset to 5 MINUTES after each new bid during the final 5 minutes of bidding on the land. The time period eventually runs out when bidding has ceased for a full 5 minutes. The purpose of a soft close is to allow everyone a fair chance to submit a higher bid. We encourage people to refresh bidding screens often to make sure timers are updated.

Max Bidding: Enter your max bid at any time. If a previous max bid exists of a lesser amount, it will jump to the lower amount, then bid in your place one bid more to put your bid in the lead. If a max bid is already entered of the same amount, it will jump to that max bid and the lead is given to whichever bid was entered first (by seniority). You will know that you are the leading bidder if the screen for your item is outlined in GREEN or look to see if it says your bidder number with (you) behind the number. If your bid jumped to your max and you are still not in the lead due to someone else's max bid, the screen for that item will be outlined in RED. The Auction Company is not responsible for any user’s misinterpretation of the max bidding feature.

It is important to refresh your screen frequently while bidding. The slightest lag in your internet can show that you are winning when you could be outbid while your internet is not receiving well. If you are unsure of your internet being reliable you are welcome to join us at one of our offices - Please make arrangements with the auctioneer.

It is recommended to be preapproved to bid 24 hours before the auction closes. Contact us at 618-473-2500 with questions.

Registration: Proper and complete registration is required to bid. All bidders must provide name, address, phone number and email address to register - To complete the bidding process Property Peddler will require a copy of state ID - This can be sent to Property Peddler by emailing to info@propertypeddler.com or we will call to request it before approving to bid. By registering, all bidders acknowledge having read and agree to be bound by the Auction Terms and Conditions. Auctioneer reserves the right to refuse to register or admit Buyer at his/her sole discretion. Buyer should register as early as possible to obtain information about the property and increase the likelihood of being notified of any pertinent changes that take place before the auction.

Co-Broke Offered: Property Peddler Inc is offering a co-broke commission of 2% to the Sponsor Broker who has a Broker that registers a client for the auction and they are the successful winning bidder. The agent must register the client, and show them the property before the client registers for the auction or is shown the property by a Property Peddler Agent. The broker can reach out the auctioneer brad@propertypeddler.com / 618-791-3289 to get the form to register a client. All Terms and Conditions of the auction will apply and if the bidder is the winner, the bidder will sign the auction sales contract that is prepared by Property Peddler, and can be reviewed by the registering broker ahead of the close of the auction.

Contract: Winning bidders will sign in person or electronically the auction sales contract immediately after the sale.

Earnest Money: The day of sale, the approved high bidder will deposit a non-refundable payment of 10% down - deposited with Monroe County Title Company. Any stop payment order of a check or giving a check which is returned marked “insufficient funds,” shall be deemed by the parties to be evidence of fraud existing at the time the transaction was consummated and shall be construed by the parties as intent to defraud.

Closing: On or before July 11th, 2024.

Closing Cost: Buyer shall pay the purchase price, plus any customary closing costs. The closing costs may include but are not limited to the following: escrow/closing fees, recording fees, normal pro-rations, and/or document fees such as later date charges or wiring fees brought on by the title company.

Title Company: Monroe County Title

Taxes: Taxes will be prorated to the day of closing.

Mineral Rights: Any mineral rights owned will sell with the property. No mineral search performed. It is assumed that mineral rights have been detached from the property.

Possession: Day of closing. No current Farm Lease, Subject to CRP that will be prorated by the FSA office.

Financing: Your bidding is not conditional on financing, make arrangements before bidding. Not contingent on appraisal.

Survey: Existing survey and corners marked

DISCLAIMER AND ABSENCE OF WARRANTIES: Subject to prior sale. Subject to all easements, covenants, and restrictions on record. All information contained herein, 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 expressed or implied, concerning the property is made by the Seller(s) or the auction company. Each potential bidder is responsible for conducting his or her independent inspections, investigations, inquiries and due diligence concerning the property. The figures, estimates, and drawings of acreages and boundary lines in the printed material or on the website are approximate and are not guaranteed. The information provided here is believed to be accurate but is subject to verification by all parties relying on it. The Seller(s) or the auction company or their agents assume no liability for its accuracy, errors or omissions.

It is the responsibility of each bidder to make sure that the Auctioneer is aware of his or her intent to place a bid. Auctioneer disclaims any liability for damages, whether direct, indirect, consequential, or incidental, resulting from bids not spotted, executed, or accepted. Bidders should also be careful to bid on the correct item and ensure that his/her bid is for the amount intended. Auctioneer is not responsible for errors in bidding, and Buyer hereby releases the Auctioneer and waives any claims for bidding errors. The sale is complete when the Auctioneer announces in a customary manner. The auctioneer is not responsible for errors in the internet connection or the functioning of the computer system at that time.

Conduct at the auction and increments of bidding are at the direction and discretion of the Auctioneer. The seller and auction company reserve the right to disqualify or refuse any bid from the person if there is any question as to the person’s credentials, fitness, etc. All decisions of the Auctioneer are final, and all announcements made the day of the sale by the Auctioneer will take precedence over printed or spoken information made prior. The Auction Company reserves the right to bid. Auctioneer has the right to cancel the auction. Property Peddler Inc., staff and agents work for and are agents of the Seller Only in an auction situation.

Auctioneer Brad Chandler, IL Lic. # 441.002105,

Broker License # 475.16227

Designated Managing Broker Brenda Chandler

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