SOLD

LAND AUCTION, 56.1+/- Acres offered in 3 Tracts

St. Joseph County, Indiana

Owner: William Murrmann & Nancy Crofoot Murrmann Thu, Oct 9, 2014 EASTERN

AUCTION IS OVER

TOTAL SOLD: $321,300

Tract(s): 1 @ $71,400 ($14,280/acre)
Tract(s): 2+3 @ $249,900 ($4,890/acre)

LAND AUCTION
• 56.1+/- Acres offered in 3 Tracts
• 37.7+/- Tillable Acres
• Highly Productive Soils
• Available for 2015 Planting Season
• 16+/- Acres Mixed Hardwoods
• 2014 Hunting Rights
• Abundant Deer, Turkey & Wildlife
• 1-1/2 miles south of US 20 bypass
• 5 miles north of Wyatt, IN
• 2 miles South of Mishawaka, IN
• 14 miles NW of Goshen, IN
Auctioneers Note: The farm will be immediately available for the 2015 planting season.


OPEN HOUSE/INSPECTION DATES

Meet a Schrader representative at the farm on:
Sunday, September 28th from 2-4pm
Sunday, October 4th from 2-4pm

PROPERTY LOCATION

Directions to Farm at 61591 St. Rd. 331:
From the South:
5 miles north of Wyatt on State Road 331 and half way between Roosevelt and Kern Roads.
From the North: 1-1/2 miles south of Meijers and US 20 bypass on west side of SR 331 and halfway between Kern and Roosevelt Roads.

AUCTION LOCATION

Madison Township Fire Station, located at the north edge of Wyatt on SR 331 or 5 miles south of Auction Property.

TRACT DESCRIPTIONS

Tract 1: 5± ac with the dwelling, pole barn plus area where ornamental grass was formerly grown with 234 ft. frontage on SR 331. Combine with Tract 2 for 27.65 acres.
One Story Frame Dwelling: Built in 1938 with country kitchen, hardwood floors in family room with fireplace. Two bedrooms and one bath. Bonus area above the garage.
Pole Barn: Built in 1991 with an addition totaling 2,984+/- square feet, concrete floor, electricity and 10 ft ceiling height.

Tract 2: 22.6± ac SWING TRACT with 6.4 +/- acres mixed hardwood. Combine with tract 3 for 56.1 acres and 35.5+/- acres of cropland.

Tract 3: 28.4± ac and 125 ft. frontage on SR 331 with 9.5 +/-acres mixed hardwood and 18.9 +/-acres of cropland.


AREA MAP

TRACT MAP(S)

SOIL INFORMATION

PLAT MAP(S)

AREA MAP(S)

PROCEDURE: This property will be offered in 3 individual tracts, combination of tracts, or as a total 56.1 acre unit. The property will be sold in the manner resulting in the highest total sale price.

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.

DOWN PAYMENTS: 10% down payment on the day of auction with the balance in cash at closing. The down payment may be made in the form of cashiers check, personal check, or corporate check. An additional 5% down payment will allow the Buyer(s) to have hunting rights before closing. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING. SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.

BUYERS PREMIUM: A 2% Buyers Premium will be added to the high bid(s) to determine the Contract Purchase Price.

CLOSING: The balance of the purchase price is due at closing, which shall take place within 30 days from delivery of marketable title. Closing costs for an administered closing shall be shared 50:50 between Buyer(s) and Sellers.

EVIDENCE OF TITLE: Seller shall provide an owners title insurance policy in the amount of the contract purchase price.

POSSESSION: Possession shall be given at closing for Tract 1. Tract 2 and 3 subject to the 2014 corn crop being harvested.

REAL ESTATE TAXES: Taxes for the 2013 calendar year payable in 2014 will be the responsibility of the Sellers. Buyer(s) assumes all taxes due in May 2015.

ACREAGE: All tract acreages, dimensions and proposed boundaries are approximate and have been estimated based on aerial photos, the current legal description, and surveys.

FSA INFORMATION: The St. Joseph County FSA Office shall make all acreage and base yield determinations.

EASEMENTS: Sale of the property is subject to any and all easements of record.

SURVEY: Current legal descriptions shall be used to convey the property. Any need for a new survey will be determined solely by the Sellers. The type of survey performed shall be at the Sellers option sufficient for providing title insurance. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres if a new survey is determined to be necessary by the Sellers. The adjustments will be made only on tracts or combination of tracts that do not contain improvements.

MINOR SUBDIVISION: If Tracts 1 & 2 sell separately, Sellers shall order a Minor Subdivision survey on those two tracts. Cost of Minor Subdivision will be split 50:50 between Buyer(s) and Sellers. The Sellers have obtained a variance for Tracts 1 & 2 from the Board of Zoning Appeals.

ORNAMENTAL NURSERY operation will require the purchase of both Tracts 1 & 2 (over 20 acres) and then obtain a Special Use Permit from the Board of Zoning Appeals.

AGENCY: Schrader Real Estate and Auction Company, Inc. and its representatives are exclusive agent to the Sellers.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlines in the Purchase Agreement. The property is being sold on san AS IS, WHERE IS basis, and no warranty or representation either expressed or implied, concerning the property is made by the Sellers 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 Sellers or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Sellers and Selling Agents reserve the right to preclude any person from b8idding if there is any question as the persons credentials, fitness, etc. All decisions of the Auctioneer are final. ANNOUNCEMENTS MADE BY THE AUCTION COMPANY AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL, OR ANY OTHER ORAL STATEMENTS MADE.

Auction Brochure

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