SOLD

LAND AUCTION, 59.5 Acres offered in 1 Tract

Spencer County, Indiana

Owner: Rodney and Mary Beth Holbrook Thu, Feb 12, 2015 EASTERN

AUCTION IS OVER

TOTAL SOLD: $360,500

Tract(s): 1 @ $360,500 ($6,058/acre)

Land Auction
• 59.,5 Acres
• Productive Tillable Land
• Excellent Location
• 50 ft.x80 ft. Pole Barn (2010)
• Potential Building Site
• South Spencer School System
• 4 Miles West of Rockport at Reo
• 10 Miles North of Owensboro
• 18 Miles East of Evansville
• Online Bidding Available


OPEN HOUSE/INSPECTION DATES

Monday, February 2nd from 12:00 Noon-2PM

PROPERTY LOCATION

From the junction of State Route 66 and State Route 161 at Reo, Indiana, go west .5 mile to Co. Rd. 350 W, turn north and proceed .4 mile to the property on the west side of the road.

AUCTION LOCATION

Rockport City Park Community Building (formerly Fairgrounds) 934 Fairground Drive, Rockport, IN.

TRACT DESCRIPTIONS

Tract 1: 59.5± ac with 49.2 cropland acres (FSA). The predominant soil is Ragsdale. The land is improved with a 50 ft.x80 ft. pole building constructed in 2010. Attached is a 15 ft.x80 ft. lean to and two 20 ft.x14 ft. overhead doors. There is public water available to the property.

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 as a total 59.5+/- acre unit.

DOWN PAYMENT: 10% down payment on the day of auction. 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.

BUYERS PREMIUM: A Buyers Premium of 3% will be charged to the buyer. The Buyers Premium will be added to the high bid to obtain the Contract Purchase Price.

ACCEPTANCE OF BID PRICE: The successful bidder will be required to enter into a Purchase Agreement at the auction site immediately following the close of the auction. The final bid price is subject to the Sellers acceptance or rejection.

EVIDENCE OF TITLE: The Seller agrees to furnish Buyer an updated commitment for an Owners Policy of Title Insurance prior to closing.

DEED: Seller shall provide Warranty 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 and Seller.

POSSESSION: Possession shall be granted at closing.

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 $1773 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 has 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.

FSA: The farm is enrolled at the Spencer County FSA Office in Rockport, IN, which shall make all acreage determinations and eligibility for farming programs, unless otherwise made by the Seller.

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

SURVEY: The Seller shall provide a new survey where there is no existing legal description. 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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