Sell Land

Parrott Real Estate & Auction Co. has contracted, promoted, sold and closed more acres at auction in this area than any other broker or auctioneer for several years. We accomplish this goal for our clients by providing true service and utilizing the very latest in technology. Our computer-driven system allows continuous and simultaneous bidding on single tracts, any combination of tracts, or the farm as a whole. This unique system creates competitive bidding activity beneficial to sellers. All bids and sequence of bidding is then digitally projected onto a large screen to enable all bidders to follow and understand.

When contacted to sell property, we gather all pertinent information such as total tillable acres, soil types, topography, FSA contract records, mineral rights and aerial photos. With this gathered information in hand we then study the options and then formulate what we feel would net our sellers the most. Upon seller approval of our proposals, including site to conduct the auction, we begin the promotion of the actual auction. We write the sale bill with pertinent information along with aerial photographs and plats.

Signage would be posted on each tract with informational brochures at entrance to the property. This information is placed periodically in surrounding area newspapers along with placement in Illinois AgriNews, which is distributed to about every person involved in any aspect of agriculture. We maintain our farmland mailing list compiled of buyers, farmers, investors, and agricultural lenders who have attended land auctions over many years from both near and far. All information would be posted on our website along with color aerials and on-site photographs. Other websites used for your promotion are National Auctioneers Association, Illinois Auctioneers Association, Indiana Auctioneers Association, Auction Zip, TopAuctions24-7, and Farm Credit Services.

Our firm has received many awards for our promotional sale bill advertisements from statewide competitions for several years. These awards include the following: Best Farmland; Farm Equipment; Real Estate; and Newspaper Promotion. I am personally a member of the Certified Auctioneers Institute, of which only 4% of our industry has qualified for membership.

Parrott Real Estate & Auction Co. offers our services at no commission cost to the seller with the implementation of a buyer premium. Seller.s pay only the cost of promotion along with normal closing costs. We have a very high success rate of selling property with the buyer.s premium, thus more money for the seller.

On auction day, our sales staff arrives at the sale early to install computers, digital projector, screen, sound system, video equipment, easels with information boards posted, and yes, of course, the refreshments. Finally it is actual auction time. We digitally record the entire auction in case there are any disputes following the auction, beginning with the opening statement of legal description, terms and conditions of the sale, procedure for payment and closing.

The bidding begins with each bid registered and then projected. When bidding has stalled, we then place bidding on a timer. If time expires before the next bid, the auction is over. This method allows the bidding to come to an end without surprise to interested parties.

Upon closing the bidding, the high bidders sign purchase agreements and deposit 10% down of the purchase price into our escrow account, along with information needed to close, type of ownership, names and spelling on deed, lending institution and representative, attorney preference, etc. We also require the backup bidder to sign purchase agreements so that in the case when the high bidder cannot close you will still have a buyer.

The very next business day we deliver your abstract or title insurance to a local title company to complete search and update. Our company works hand in hand with buyers, lending institutions, attorneys, surveyors (if necessary), to ensure a closing that is pleasing to all parties.

I would like to thank you for the opportunity to provide you with this information. If we can be of further assistance in the future, please call 1-800-294-5738 or 1-618-943-4905.

Sincerely,
PARROTT REAL ESTATE & AUCTION CO.
Gregg Parrott
Broker / Auctioneer / Owner