Joe Ollis Real Estate & Auction, LLC
Bidding Procedures & Auction Terms and Conditions
Property and Basic Information
1. The Real Estate consists of two properties:
o Property 1: TBD Lovers Lane, Gorham, IL 62940, identified by County Parcel Number 13-18-200-013
o Property 2: TBD N State Route 3, Jonesboro, IL 62952, identified by County Parcel Number 11-24-07-032-Z1
o There are no leases or rents.
o These properties are being sold individually with separate bidding required for each property.
o If the same buyer is successful on both properties, a combined contract will be provided.
2. These properties are being sold on an "AS IS", "WHERE IS" basis, and no warranty or representation, either express or implied, concerning the properties or their future use is made by Seller or Auction Company. Buyers may conduct inspections by contacting Joe Ollis Real Estate & Auction, LLC at 618-833-2227 or 800-272-9791 to schedule an appointment.
3. While you may obtain financing for your purchase, this auction is not contingent on financing, appraisal, survey, or inspections of any kind. If you do not have your finances in order, we ask that you Don't Bid!
4. Sale of said property is subject to: any and all easements of record, state and federal regulations, restrictions as to use or improvements of premises, utility, roadway, railway, and gas line easements, all state and local zoning ordinances, and any other limitations, if any.
Registration and Representation
5. This real estate auction is being conducted through online only bidding. All bidding is open and public. You or your authorized representative must be registered online to bid. If you need assistance placing an online bid or prefer to submit a bid in person, please call our office for assistance at 618-833-2227 or 800-272-9791.
6. Registration requires a credit card for validation, though this is not a recognized form of payment for the earnest money (deposit) or purchase price. By registering, all bidders acknowledge having read and agree to be bound by these Auction Terms and Conditions. Joe Ollis Real Estate & Auction, LLC reserves the right to remove or cancel the bids and bidding rights of any party at any time deemed not to be in the best interest of the seller(s).
7. Joe Ollis Real Estate & Auction, LLC and their representatives are Exclusive Agents of the Seller(s). We do not represent the buyer(s) in any manner. All negotiations must be conducted through Joe Ollis Real Estate & Auction, LLC.
8. Broker Participation: A commission previously agreed upon will be paid to any properly licensed real estate broker whose Buyer/Bidder is the successful purchaser for this real property, and who closes and pays the total Contract Price and Closing Costs. The broker must adhere to the broker participation form requirements and submit all required documentation 24 hours before the auction begins to end.
Bidding Procedures
9. Maximum Bidding Option: When placing a bid, you may set a maximum bid amount. The system will bid in specified increments up to your maximum, never exceeding it, and only increasing when raised by competing bids. This is particularly useful if you cannot bid actively at closing time.
10. Dynamic Closing "Soft Close" and Extend One Extend All: The closing time for each property automatically extends two minutes when a bid is placed within the final two minutes. If either property receives a bid within its final two minutes, BOTH properties will be extended by two minutes. Bidding stops extending only when no bids have been placed on either property for two minutes.
11. Joe Ollis Real Estate & Auction, LLC controls the amount of bids for sake of speed and clarity using predetermined bid amounts.
12. Outbid Notifications: If you choose this option during registration, you will receive email notifications when you are outbid. Please note that if you are outbid near the end of the auction, you may not receive the notification until after the auction has closed. You can check your current bid status at any time during the auction. If the system shows you are outbid, you are outbid. If you need to verify your bid status, contact ollis@ollisauction.com or call 1-800-272-9791 before the auction closes.
13. Technical Issues: In the event of technical difficulties, Joe Ollis Real Estate & Auction, LLC reserves the right to extend, continue, or close bidding. Neither the software provider nor Joe Ollis Real Estate & Auction, LLC shall be held responsible for software malfunctions. Use the "Max Bid" feature to minimize technical issues.
14. Bidding Errors: Carefully review each bid before submitting. Bids must be in whole numbers only. If you make an error contact the Auctioneer immediately at ollis@ollisauction.com or call 618-833-2227 or 618-521-0525. If you do not you are still liable for your bid.
15. Bidder's Duty to Report Fraud: You are responsible for all bids from your account. For suspected unauthorized access: o Immediately notify the Auctioneer at ollis@ollisauction.com o Immediately report to law enforcement o Provide police report copy to Auctioneer Failure to report promptly makes you responsible for all purchases made using your account.
Contract Terms
16. At the conclusion of the auction, the Winning Bidder will receive an email with documents to sign. The Auctioneer or representative will contact the Winning Bidder the day of the auction to address any questions. The contract signing and earnest money deposit must be completed by 4 pm CST on the day following the auction.
17. ALL CASH means only U.S. dollars and cents will be accepted - no other forms of payment such as vehicles, farm animals, or other items will be considered.
18. A buyer's premium of ten percent (10%) of the high bid shall be added to the high bid to establish the contract price. Please remember to consider this buyer's premium when placing or determining your bids.
19. Earnest money requirements are $5,000.00 for the Gorham property and $1,000.00 for the Jonesboro property ($6,000.00 total if purchasing both properties). The non-refundable earnest money is due by 4 pm CST the day following auction. Payment options: o Check (payable to Joe Ollis Real Estate & Auction, LLC) o Cash o Credit card (5% fee applies) o Wire transfer (buyer pays transaction fees)
The earnest money becomes part payment of the property at closing.
20. A Winning Bidder whose documents and deposit are not received within this timeframe: o Will be subject to liquidated damages equal to the earnest money plus any costs to obtain the earnest money o Will not be allowed to bid in future Joe Ollis Real Estate & Auction, LLC events
Title and Closing
21. Title Insurance and Deed: o Seller shall provide Owner's Policy of Title Insurance o Seller shall execute a general warranty deed conveying the real estate to the buyer(s) o Seller pays for deed preparation o Buyer(s) pay for their own title search, insurance charges, and usual conveyance expenses o Buyer(s) pay for recording fees and tax stamps that attach to the deed o The closing fee of the title company shall be split 50/50 between seller and buyer o Title company: Jackson County Abstract & Title Guarantee Co., Inc Address: 110 S 11th St, Murphysboro, IL 62966 Phone: (618) 684-3311
22. Real Estate Taxes: 2024 and prorated 2025 taxes will be credited on closing statement based on latest courthouse records. Seller to cover any outstanding taxes, if applicable..
23. The sale will be closed on or before April 8, 2025. Time is of the essence. If closing has not occurred by the closing date, Joe Ollis Real Estate & Auction LLC, through its Agents or Attorney, may give the buyer five (5) days notice to close this sale. The closing date may be extended if mutually agreed upon in writing by both Seller and Buyer. Any personal property remaining becomes buyer's property/responsibility after closing.
Legal Considerations
24. The Auction Company has posted all relevant documents (Contracts, tax bills, photos, etc.). Information was obtained from sources believed accurate but requires verification. Aerial Photos and Drawings are for illustration only unless specified as surveyed boundaries.
All bidders must: o Conduct their own due diligence o Complete any professional reviews of the auction and information PRIOR to bidding o Review any updates prior to bidding
25. As exclusive Seller's agents, the Auctioneer must present all offers. Properties are subject to pre-auction sales meeting all terms. Pre-auction offers must include: o The Contract for Sale of Real Estate o Required deposit
The Seller may accept or reject any offer at their sole & absolute discretion.
26. Both parties shall indemnify and hold harmless Joe Ollis Real Estate & Auction, LLC from costs, losses, liabilities, or expenses, including attorney fees, resulting from failure to fulfill obligations. Disputes will be arbitrated in Union County, IL or tried in Union County courts, at the discretion of Seller and Joe Ollis Real Estate & Auction, LLC.
27. If any provision of these Terms and Conditions is held to be invalid, void, or unenforceable for any reason, the remaining provisions shall continue in full force and effect and shall in no way be affected, impaired, or invalidated.
28. Failure to enforce any term does not waive future enforcement rights. These Terms and Conditions are governed by Illinois law.
Thank you for your interest. For questions, contact our representatives.
Initial: _______ I have read and agree to these terms and conditions.

Land Online Only Auction - Jackson County & Union County, Illinois 15.25 & 3.81 +/- Acres of Agricultural Land Auction Begins to End: February 25, 2025, Tuesday 2:00 PM Properties Location: TBD Lovers Lane, Gorham, IL 62940 37�45'03.3"N 89�28'52.1"W 37.750906, -89.481130 & TBD N State Route 3, Ware (Jonesboro), IL 62952 37�27'17.5"N 89�23'52.1"W 37.454862, -89.397808 To Bid or for More Information Please Visit www.ollisauction.com Two tracts of land in southern Illinois are being offered through an online-only auction on Tuesday, February 25, 2025, beginning to end at 2:00 PM. The first property is a 15.75-acre tract in Jackson County, Illinois, featuring Jacob Silt Loam and Booker Silt Clay soils with a Corn Suitability Rating of 120. This land has been used for crop production, including corn and soybeans. The second property is a 3.81-acre wooded tract in Union County, Illinois, with Ware Loam soils. This parcel has not been farmed, offering a variety of potential uses. Jackson County Parcel Tax ID Number: 13-18-200-013 Acreage: 15.75 +/- Acres Tillable Land: Approximately 15.25 +/- Acres per FSA records FSA Information: Farm Number: 4813 Total Farmland: 15.25 +/- Acres Total Cropland: 15.25 +/- Acres ARC County: Corn and Soybeans PLC Eligible: None Union County Parcel Tax ID Number: 11-24-07-032-Z1 Acreage: 3.81 +/- Acres Seller: Randall Myers Abbreviated Auction Terms & Conditions: " Bidding Process: The two properties will be offered individually through online-only bidding. " Registration: Bidders must register online at www.ollisauction.com. " Down Payment: Non-refundable earnest money deposits are required within 24 hours of the auction's close: $5,000 for the Gorham property and $1,000 for the Jonesboro property. " Closing Date: On or before April 8, 2025. " Buyer's Premium: A 10% Buyer's Premium will be added to the high bid to establish the final contract price. " Possession and Title: Seller will provide an owner's policy of title insurance and execute a general warranty deed. " Real Estate Taxes: The seller will provide a credit on the closing statement for 2024 and prorated 2025 taxes. " Mineral Rights: All mineral rights owned by the seller will be included. " As-Is Sale: Properties are sold on an "AS IS, WHERE IS" basis, without warranties or guarantees. " Tenant Rights: have been quieted, and possession will be granted upon closing. For more information, to review the Real Estate Purchase Contract, and to register for the auction, visit our website or contact our office. www.ollisauction.com 400 New Hope Road, Buncombe, IL 62912 Office: 618-833-2227 or 618-996-2884 Email: ollis@ollisauction.com Joe Ollis Auction Service, LLC IL. Lic # 444.000380 Information Herein Believed to Be Accurate but Not Warranted