Hiatt Farmland Services is pleased to offer the Stout Farm at online-only auction on Tuesday, September 29, 2026, with bidding open from 11:00 a.m. to 1:00 p.m. CT. The farm sells as a single tract of 75.00 deeded acres per Livingston County records. Bidding will be on a dollars-per-acre basis, with the final purchase price determined by multiplying the high bid by 75.00 deeded acres; minimum bid increments are $100 per acre. You MUST register to bid: all bidders must register at bid.hiattland.com no later than Monday, September 28, 2026 at 12:00 p.m. CT. A 10% non-refundable down payment is due within 24 hours of the close of bidding, with closing on or before Thursday, October 29, 2026. See the attached brochure and Terms & Conditions for complete details, or contact Rick Hiatt, Hiatt Farmland Services, 309-838-7933, rick@hiattland.com.
Procedure: The property will be offered in a virtual online auction format. Bidding and livestream viewing will be available at bid.hiattland.com. Bidding will be on a dollars-per-acre basis and the final purchase price will be determined by multiplying the high bid by 75.00 deeded acres. Bids will be increased in increments of a minimum of $100/acre.
Registration: All bidders are required to register at bid.hiattland.com no later than Monday, September 28, 2026 at 12:00 p.m. CT. Once the online registration form is filled out, it will be automatically sent to Hiatt Farmland Services for approval to allow bidding. Auction company may request a letter of recommendation from prospective bidder's financial institution stating funds are available for the 10% deposit and that bidder has the financial capacity for final purchase.
Acceptance of Bid Prices: The successful high bidder will enter into a Contract to Purchase immediately following the close of bidding for presentation to the Seller. Final bid price is subject to approval or rejection by the Seller. Upon the close of the auction the winning bidder will either sign the Contract to Purchase in DocuSign or be forwarded via email or fax a contract to purchase. A signed copy of the contract must be returned and received by Hiatt Farmland Services on or before 12:00 p.m. CT, Friday, October 2, 2026, or scanned and emailed to rick@hiattland.com.
Down Payment: A 10% non-refundable down payment of the total contract purchase price will be due within 24 hours of the close of the auction from the winning bidder. The down payment may be paid in the form of a wire transfer, personal check, business check or cashier's check. Should the winning bidder not be approved by the Seller, the down payment shall be returned to the bidder as soon as practicable. Payment shall be made to the escrow agent to be determined at a later date. The balance of the contract purchase price is due in cash at closing. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING.
Closing: The closing shall take place on or before Thursday, October 29, 2026.
Possession: Possession will be given at closing, subject to the farm tenant's rights for the 2026 crop year. The Buyer may perform fall tillage and fertilizer application following harvest of the 2026 crop; full possession March 1, 2027.
Title: Seller will provide a proper deed conveying merchantable title to the real estate to the successful buyer free and clear of liens as well as a title policy for the amount of the purchase price.
Real Estate Taxes and Assessments: The Seller will pay all 2025 real estate taxes payable in 2026 and will credit the Buyer at closing 100% of the estimated 2026 taxes payable in 2027, based on the most recent ascertainable assessment and rate; the Buyer is responsible for all taxes thereafter.
Mineral Rights: The sale shall include any and all mineral rights currently owned by the Seller, if any.
Acreages: Bidding will be based on 75.00 deeded acres per Livingston County records.
Easements and Leases: The sale is subject to any and all easements of record.
Disclaimer: All information contained in this brochure 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 express or implied, concerning the property is made by the Seller or Hiatt Farmland Services. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is believed to be accurate but is subject to verification by all parties relying on it. No liability for its accuracy, errors or omissions is assumed by the Seller or Hiatt Farmland Services. All sketches and dimensions in this brochure are approximate. Total acreage is per Livingston County records. Conduct at the final round of bidding and increments of bidding are at the discretion and direction of the seller's agent. The Seller and Hiatt Farmland Services reserve the right to preclude any person from bidding if there is any question as to the person's credentials, fitness, etc. Under no circumstances shall bidder have any kind of claim against Hiatt Farmland Services or anyone else if the Internet service fails to work correctly before or during the auction.
Agency: Hiatt Farmland Services and its representatives are exclusive agents of the Seller.
Seller: Jerold B. Stout
