SOLD

REAL ESTATE AUCTION, 181+/- Acres offered in 5 Tracts

Sullivan County, Indiana, 15 Miles South of Terre Haute, 7 Miles North of Sullivan

Owner: Hastings Trust Thu, Oct 16, 2014 EASTERN

AUCTION IS OVER

TOTAL SOLD: $810,000

Tract(s): 1-5 @ $810,000 ($4,475/acre)

REAL ESTATE AUCTION
• 181+/- Acres offered in 5 Tracts
• Great Hunting
• Nearly All Wooded Acreage
• Abundant Road Frontage
• Recreational Opportunity
• Potential Building Sites
• Online Bidding Available


OPEN HOUSE/INSPECTION DATES

Friday, October 3rd from 4-6PM
Meet at Tract 1

PROPERTY LOCATION

From the junction of U.S. Hwy 41 and St. Rt. 48 at Shelburn, Indiana, go west 3.6 miles to N Co. Rd. 300 West, turn north 1.2 miles to the property.

AUCTION LOCATION

Sullivan City Park, Shelter House, 629 S. Main, Sullivan, IN.

TRACT DESCRIPTIONS

Tract 1: 39± ac having 9.1 tillable acres with balance in woods. A very good hunting/recreational tract with an income stream potential.

Tract 2: 42± ac with 12.8 tillable acres with the balance in woods. An excellent tract for hunting and recreational enjoyment.

Tract 3: 91.5± ac 7.4 tillable acres surrounded by a heavily wooded tree line providing seclusion.

Tract 4: 38± ac mostly wooded with frontage on nicely paved county road. There is a small open area. A tract suitable for hunting, recreation and potential building site.

Tract 5: 53± ac nearly all wooded with a creek and gently rolling topography. This is an excellent place to harvest that big buck or gobbler.

ONLINE BIDDING AVAILABLE: You may bid online during the auction at www.schraderauction.com. You must be registered One Week in Advance of the Auction to bid online. For online bidding information, call Kevin Jordan at Schrader Auction Co. - 800-451-2709.


AREA MAP

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURE: The property will be offered in 5 individual tracts, any combination of tracts and as a total unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations and the total property may compete. DOWN PAYMENT: 10% down payment on the day of auction for individual tracts or combinations of tracts. The down payment may be made in the form of cashiers check, personal check, or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, and are capable of paying cash at closing.

ACCEPTANCE OF BID PRICES: All successful bidders will be required to enter into Purchase Agreements at the auction site immediately following the close of the auction. All final bid prices are subject to the Sellers acceptance or rejection.

EVIDENCE OF TITLE: The Seller agrees to furnish Buyer(s) an updated commitment for an Owners Policy of Title Insurance prior to closing. DEED: Seller shall provide Trustee Deed.

CLOSING: Closing shall take place within 30 days after auction day, or as soon thereafter as applicable closing documents and title insurance are completed. Costs for an insured closing shall be shared 50:50 between Buyer(s) and Seller.

POSSESSION: Possession shall be granted at closing on all tracts. Subject to tenants rights. Sellers shall retain sellers share of the 2014 rental income if any.

REAL ESTATE TAXES: Seller shall pay the 2014 real estate taxes and ditch assessments due and payable in 2015, if any. All subsequent real estate taxes and assessments shall be the buyers responsibility. The estimated real estate taxes are $1402 annually.

PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries and due diligence concerning the property. Inspection dates have been scheduled and will be staffed with auction personnel. Further, Seller disclaims any and all responsibility for Bidders safety during any physical inspection of the property. No party shall be deemed an invitee of the property by virtue of the offering of the property for sale.

MINERAL RIGHTS: Seller shall convey its entire interest in the property including all mineral rights, if any, in the property owned by the Seller.

ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.

SURVEY: The Seller shall provide a new survey where there is no existing legal description or where new boundaries are created by the tract divisions in this auction. Any need for a new survey shall be determined solely by the Seller. Seller and successful bidder shall each pay half (50:50) of the cost of the survey. The type of survey performed shall be at the Sellers option and sufficient for providing title insurance. Combination purchases will receive a perimeter survey only.

AGENCY: Schrader Real Estate & Auction Company, Inc. and its representatives are exclusive agents of the Seller.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on an AS IS, WHERE IS basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. 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 subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. All decisions of the Auctioneer are final.

ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.

Auction Brochure

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