Terms & Conditions

1. PROCEDURE: Bidding ends Wednesday, September 26, 2018 at 10:00 AM, with a soft close, meaning that a bid in the final minute will extend bidding by 5 minutes.
2. BUYERS PREMIUM: 5% Buyer’s Premium will be added to the final bid price to arrive at the contract sale price.
3. ACCEPTANCE OF BID PRICES: Winning bidder(s) will enter into a Contract to Purchase immediately upon being declared the Successful Bidder by the Auctioneer. Upon the close of the auction the winning bidder will be forwarded via email a Contract to Purchase. Trophy Properties and Auction must receive a signed copy of the contract on or before 12:00 NOON, Thursday, September 27, 2018 (hand delivered, faxed or scanned and emailed). The Seller reserves the right to reject any and all bids. Once accepted, this agreement shall be binding on the parties and their successors and assigns. This agreement is NOT subject to financing, inspections, or other contingencies or delays the closing for such reason.
4. DOWN PAYMENT: 10% of the contract purchase price will be due upon acceptance of the Sales Contract. Bidding is not contingent upon financing. Business or Personal checks or Wire Transfer are accepted. Payment must be received by First Bankers’ Trust by 12:00 PM (Noon) on Friday, September 28, 2018. The down payment will apply against the purchase price, but may be forfeited as liquidated damages if Purchaser fails to complete the purchase; however, this does not limit Seller’s remedies. Purchaser further agrees to pay Seller’s reasonable attorney fees and costs to enforce this agreement if Purchaser defaults. The balance of the purchase price will be due at closing by wire transfer to the closing agent or as the closing agent requires.
5. CLOSING: Closing shall be on or before 3:00 p.m., Wednesday, October 24, 2018.
6. POSSESSION: Possession will be given at closing, subject to the remaining rights of the current tenant, if any.
7. TITLE: Seller shall furnish the buyer(s) at Seller’s expense an Owner’s Policy of Title Insurance in the amount of the purchase price, and agrees to provide and execute a proper deed conveying merchantable title to the real estate to the buyer(s).
8. SURVEY: AT SELLERS OPTION, the Seller shall provide a new survey where there is no existing legal description sufficient to convey title.
9. REAL ESTATE TAXES: N/A
10. Personal Property: All Chattel offered in this sale is being sold As Is, Where Is with NO Warranties expressed or implied. Payment can be made at time of pick up in form of Personal or Business Check. All items must be removed on Saturday, September 29th between 9 AM and 11 AM.
11. This is a public sale of real estate and personal property, conducted in accord with the Illinois School Code, including but not limited to 105 ILCS 5/5-22 and 105 ILCS 5/10-22.8.
12. Under no circumstances shall Bidder have any kind of claim against Trophy Properties and Auction, or anyone else if the Internet service fails to work correctly before or during the auction.
13. The information is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties pertaining to this property. Both real estate (including all improvements) and personal property are being sold As Is, Where Is with NO warranties expressed or implied. Please make all inspections and have financing arranged prior to the end of bidding.