8050 Old River Road, Rockford IL

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8050 Old River Road, Rockford

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REAL ESTATE AUCTION!

8050 Old River Road,

Rockford IL

Auction Date:

Sat. June 5th, 2010

1:00 PM

ON SITE

Buy either or both at this multi-parcel real estate auction.

3-bedroom, 3400+ sq. ft. ranch home with attached 3+car garage

*aluminum-sided exterior with brick/stone accents

*2-1/2 baths

*eat-in kitchen & traditional dining room

*family room

*vaulted living room ceiling

*home office with high-speed internet

*1st floor laundry

*walk-in closets

*central vacuum

*security system

*full, exposed basement - walk out to patio

*central A/C

*additional 1-1/2 car detached garage

*8.3 acres, wooded with large spring-fed pond

*45x72 ft. horse barn - 4 oak stalls with rubber mats & tack room

*20x30 ft. lofting shed

*machine shed - feed storage unit

*fenced pasture

5-acre adjacent parcel

on Duane Dr.

buildable lot with easement rights to air strip

Be the successful bidder on either of these desirable parcels or the two combined.

Owners moving out of state.

Call for information on the multi-parcel process.

PREVIEW:

Sat. May 15th 1:00-2:00 PM

Sat. May 22nd 1:00-2:00 PM

Sat. May 29th 1:00-2:00 PM

Terms: 10% buyer’s fee. $5000 earnest money required day of sale. Balance due at closing within 30 days. Property offered as is with no contingencies. Successful bidder will be required to sign a standard offer to purchase. Property to be sold subject to owner confirmation. Opening Bid $275,000.00. Multi-Par Auction sold in conjuction with Duane 5 Acre Lot (Min. Opening Bid on Duane Drive $40,000.00)

UNITED COUNTRY -BELOIT AUCTION & REALTY, INC.

534 W. Grand Avenue, Beloit WI 53511

877.364.1965

Richard Ranft, CAI,GPPA,AARE,REALTOR

Registered Wisconsin Auctioneer #237

IL#441.001071

Bill Perkins, CAI,GPPA, REALTOR

Registered Wisconsin Auctioneer #1956

IL#441.00964

Auction Terms

ADDENDUM A

TERMS & CONDITIONS AGREEMENT FOR REAL ESTATE AUCTION

Auction Property Address: 8050 Old River Road, Rockford IL

1. All bidders are required to register and give full identification prior to the beginning of the auction. Number system to be used.

4. The successful bidder must make a $5,000.00 down payment of earnest money on Auction day. Payment may be made in cash or personal check.

5. Earnest money deposit is non-refundable if offer is accepted by seller and will be applied to the purchase price at time of closing. Buyer agrees to close and the balance of the purchase price shall be due and payable at closing on or before July 5th, 2010.

6. If seller does not accept offer, all earnest money paid hereunder shall be returned to buyer.

7. All announcements made on Auction day may supersede any published or previously announced terms and conditions.

8. Seller to provide title insurance.

9. United Country Beloit Auction & Realty, Inc represents the Seller only and does not inspect properties on bidder’s behalf. Buyers must conduct their own diligence and investigation of each property and must also investigate the suitability of each parcel prior to making a bid and purchase at the Auction. Buyers must rely solely upon their own investigation and not any information provided by the Seller or Auctioneer. Failure of Buyer to be fully informed on the condition of a property will not constitute grounds for any claim adjustment or right to cancel sale.

10. If Buyer is a winning bidder and refuses or fails to complete the transaction for ANY reason (including, but not limited to, remitting the total purchase amount), Buyer shall relinquish ANY right to complete the transaction and shall have no rights or interest in the property, as well as forfeit all deposit monies as liquidated damages to Seller. PLEASE BE ADVISED: Various state statutes give Seller the right to pursue legal action against bidders who refuse to complete transactions. This may include (but is not limited to) suit to compel completion of the sale, and/or criminal charges of fraud or other intentional act.

11. Bidder agrees to the above terms and conditions of the auction prior to receiving a bid card. These terms and conditions are made part of the offer to purchase.

Buyer(s) Signature _______________ _______________Date________

Agent(s) Signature _______________ ______________Date________

2. The property will be offered in its “AS IS” condition with any and all faults. The buyer acknowledges that he/she has inspected the property and accepts it in its “AS IS” condition.

3. This is a 10% Buyer Fee Auction. The high bid plus a 10% Buyer Fee shall equal the total purchase price. Minimum opening bid is $275,000.00.