SOLD

LAND AUCTION - 252 ACRES OFFERED IN 4 TRACTS IN JACKSON COUNTY

Jackson County, Indiana, Near Medora

Owner: Edwin Starr Tue, Oct 20, 2015 EASTERN

AUCTION IS OVER

TOTAL SOLD: $896,100

Tract(s): 1 @ $339,900 ($4,145/acre)
Tract(s): 2-4 @ $556,200 ($3,271/acre)

• 252 Acres Offered in 4 Tracts • 132 Tillable Acres • 14 CRP Acres • Hardwood Timber • Potential Building Site • Great Hunting! • 12 Miles SW of Brownstown • 13 miles SE of Bedford


OPEN HOUSE/INSPECTION DATES

Monday, October 12th from 10AM-12 Noon

AUCTION LOCATION

Pewter Hall, 850 West Sweet Street, Brownstown, IN 47220.
Directions:
From Brownstown, IN take US Hwy 50 West 5.7 miles to Hwy 235 turn south 3.6 mi. to Medora, IN. From Medora take Sparksville Pike Rd. (southwest along the railroad track) follow signs 5.5 mi. to Sparksville, travel north from Sparksville on CR 1100W .6 mi. to CR 625S, turn west and proceed .5 mi. to the property.
12 Miles SW of Brownstown
13 Miles SE of Bedford

TRACT DESCRIPTIONS

Tract 1: 82± ac with 70.9 cropland acres, level to sloping topography fronting CR 625 S.

Tract 2: 74± ac with 58.6 cropland acres, the balance of acreage is wooded with a picturesque creek. Frontage and access is via CR 625 S.

Tract 3: 6± ac with 2.8 cropland acres. This tract fronts CR 625 S and offers a potential building site. The balance of this tract is woodland wrapping around the open area creating a beautiful setting.

Tract 4: 90± ac nearly 100% wooded, approx. 80 acres of standing timber, 14 acres enrolled in CRP paying $80 per acre annually through 9-30-18. Access is via a 50 ft. easement from CR 625 S.

*SEE TIMBER APPRAISAL BY CLICKING ON THE DOWNLOAD TAB*


AREA MAP

TRACT MAP(S)

SOIL INFORMATION

PLAT MAP(S)

AREA MAP(S)

PROCEDURE: The property will be offered in 4 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.

BUYERS PREMIUM: A Buyers Premium equal to three percent (3%) of the high bid amount will be charged to the Buyer(s) and added to the high bid amount to arrive at the contract purchase price.

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 a 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(s) and Seller.

POSSESSION: Possession shall be granted at closing on all tracts. Subject to tenants rights. Seller shall retain sellers share of the 2015 rental income if any.

REAL ESTATE TAXES: Seller shall pay the 2015 real estate taxes due and payable in 2016, if any. All subsequent real estate taxes and assessments shall be the buyers responsibility. The estimated real estate taxes are $4002 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.

CRP: There is a Conservation Reserve Program (CRP) contract pertaining to 14 acres of Tract 4. The CRP contract expires 9-30-2018 and is paying $1,121.00 annually. The Buyer shall assume all responsibility and benefits of said CRP contract.

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.