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Fulton County Land Auction: 121.38 +/- Acres Selling in 1 Tract

  • Vermont American Legion 213 North Main Street Vermont, IL, 61484 United States (map)

Sold! $5,600/acre @ 121.38 +/- acres = $679,728.00

Updated March 6, 2023

Prior to closing, the home, all outlying buildings, trees and fences around the homesite will be torn down.


“The Bill Kost Farm”
132 East County Highway 36 - Vermont, Illinois
121.38 +/- Taxable Acres, Selling in 1 Tract

Thursday, April 13, 2023 @ 10 a.m.
Vermont American Legion
213 N. Main Street - Vermont, IL

Available for viewing by appointment only or visit us at our open house on
Saturday, April 1st, from 11 a.m. - 1 p.m.


Tract 1 - The Bill Kost Farm


Tract 1: 121.38 +/- Taxable Acres (selling on a dollar per acre basis)

  • Located at 132 East County Highway 36, approximately 0.5 miles West of Vermont.

  • The property is improved with a 1.5 story home, detached garage and older barn.

  • FSA reports 51.9 +/- tillable acres with an average PI of 117.5.

  • Soils consist primarily of Rozetta and Keomah silt loams.

  • New ownership is subject to the existing farm lease for 2023.

  • Great hunting and recreational potential with 68.5 +/- acres of timber. No existing hunting lease on the property.


House Information (UPDATED 03/06/2023)

  • The home, all outlying buildings, trees and fences around the homesite will be torn down prior to closing.

  • Municipal water, electricity and natural gas will remain available at the property for future use.


Interactive Mapping

 

Property Photos

FSA Docs / Topography Maps / Soil Maps

Terms of Sale

Property is selling as-is, where-is with all faults and is selling subject to easements, leases, restrictions, covenants, conditions, zoning HOA and POA fees and all other matters which would be revealed by a current survey or an inspection of the property or which is contained in public records. Seller reserves the right to cancel the sale and also reserves the right to reject any and all bids. Property will be conveyed by a Warranty Deed. Information contained herein was obtained from sources deemed reliable. The seller and their agents reserve the right to place bids on the property up to the seller's reserve at their sole discretion. All offers are subject to the approval of the seller. The property will sell as-is, where-is with no warranty, expressed or implied, as to improvements, soil condition, environmental and wetlands, or zoning. No personal property will be conveyed with the real estate. Neither the seller, Kelso Rhoades Real Estate Auction Group, nor their agents will be responsible for any errors or omissions herein. Bidders should carefully verify all information and make their own decisions as to the accuracy thereof before submitting their bid. Purchaser or purchaser’s representative will acknowledge by signature of the real estate sales contract they have inspected the property. The terms of the real estate sales contract are controlling in the event of any perceived inconsistency between its terms and any statements or other advertisement.

CONTINGENCIES: This sale is not contingent on purchasers’ ability to obtain financing and/or appraisal, or subject to any home, radon, lead-based paint, septic, mold, or other inspections.

POSSESSION: Purchaser will receive possession, subject to the existing farm lease, at closing. Closing will be held on or before Monday, May 15, 2023, at the law offices of John McCarthy, 209 E. Chestnut Street, Suite # 1, Canton, IL 61520.

SURVEY: Tract 1 shall be conveyed by the existing legal description and acreage reported by the Fulton County Assessor’s Office, 121.38 acres. 

OPPORTUNITY CLAUSE: All bidding is open to the public. The property is available to qualified purchasers without regard to a prospective purchaser’s race, color, religion, sex, material status, national origin, or physical handicap.

DEBT COLLECTION & INTEREST CHARGE: The bidder agrees to pay all reasonable attorney fees and other costs incurred by Kelso Rhoades Real Estate Auction Group in its efforts to collect unpaid funds from the bidder. Any debt collection or dispute proceedings will be heard in McDonough County, Illinois.

BUYER’S PREMIUM: There is no buyer’s premium for this auction.

GUARANTEE AGREEMENT: By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees payment of any bid amount not paid when due by the business entity or corporation, for any reason, together with all collection expenses incurred to enforce collection, including a reasonable attorneys fee.

PROPERTY TAX PRORATION/FARM INCOME:  Taxes for any year prior to the year in which the sale occurs will be paid by the seller. The new owner(s) will receive the cash rent from farming operations for 2023 (totaling $7,600), and subsequently will be responsible for the entirety of the 2023 real estate taxes.

CLOSING EXPENSES: The seller will be responsible for the title search and at closing will issue a commitment for title insurance to the buyer, in the amount of the purchase price. The seller will also pay for preparation and transfer of the deed, transfer taxes and one-half of the actual closing fee.

TERMS FOR ONLINE BIDDING: The online registration will need to be completed. The successful online bidder will be notified immediately following the closing of the auction and a time will be set to either sign the real estate sales contract in person or electronically, neither which will take place later than 5 p.m. on April 13, 2023. The terms of the real estate sales contract will take precedence of any claims made in this notice. At the time of executing the sales contract, earnest money in the amount of 10% of the purchase price will be collected in the form of check or certified funds. The balance of the contract price will be paid in full at closing, which will be scheduled for no later than May 15, 2023. If you have any questions, please call our office at 309-647-8811.

AGENCY: Rhoades Real Estate & Land Auction Services, Inc. DBA Kelso Rhoades Real Estate Auction Group, auctioneer/broker, is acting exclusively as agent for the seller.

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March 10

Online Only Real Estate Auction - Henry County Home with 10 +/- Acres: 5498 S. County Road - Alpha, IL

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April 27

Peoria County Land Auction: 72.091 Surveyed Acres Selling in 1 Tract