SOLD

LAND AUCTION - 106+/- ACRES OFFERED IN 3 TRACTS IN ST. JOSEPH COUNTY, INDIANA

St. Joseph County, Indiana

Owner: Gresham Family Thu, Nov 3, 2016 EASTERN

AUCTION IS OVER

TOTAL SOLD: $720,000

Tract(s): 1-3 @ $720,000 ($6,923/acre)

• 106+/- Acres offered in 3 Tracts • 86+/- Tillable Acres • Brookston, Crosier, Baugo & Renssealer soils • Potential building site on Tract 2 • Online Bidding Available


OPEN HOUSE/INSPECTION DATES

Thursday, October 13 from 3-5:00 PM
Saturday, October 22 from 10:00 AM - Noon

Meet a Schrader Representative at Tract 1 on Elm Road

PROPERTY LOCATION

West of Wyatt, IN 1-1/2 miles on Patterson Road then south on Elm Road 1/2 mile to the property on west side of Elm Road.

AUCTION LOCATION

Madison Township Fire Station. Located on the north edge of Wyatt on the west side of State Road 331 or 1-1/2 miles Northwest of the property.

TRACT DESCRIPTIONS

Tract 1: 36± ac with 218 ft.+/- frontage on Elm Road with one field having 32.5+/- acres of cropland per FSA containing Brookston, Crosier and Baugo loam soils. The Leman Ditch borders the south side and the Anthony Ditch borders the west side of this Tract. Tract 1 is not approved for a country home site.

Tract 2: 20± ac with 16.31+/- tillable acres per FSA and over 600 ft. frontage on Elm Road. Soils are productive Brookston, Crosier, Baugo and Rensselaer loams. This Tract is a buildable home site per St. Joseph County Building Department subject to Health Department approval of a septic. It is anticipated 20 acres will include most of the drainage way of the Leman Ditch.

Tract 3: 50± ac SWING TRACT and needs to be purchased with Tract 1 or an adjoining Land owner. There are 38.13 acres of cropland per FSA and 3.5+/- acres woods.


AREA MAP

TRACT MAP(S)

SOIL INFORMATION

PLAT MAP(S)

AREA MAP(S)

PROCEDURE: The property will be offered in 3 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. Purchase agreements are available for review prior to the auction. All final bid prices are subject to the Sellers acceptance or rejection in its sole discretion.

EVIDENCE OF TITLE: The Seller agrees to furnish Buyer(s) an updated commitment for an Owners Policy of Title Insurance prior to closing. The property will be conveyed by a Warranty Deed as more specifically set forth in the purchase agreement.

REAL ESTATE TAXES: Seller shall pay the 2016 real estate taxes and ditch assessments due and payable in 2017. All subsequent real estate taxes and assessments shall be the buyers responsibility.

CLOSING: Closing shall take place within 30 days after the auction.

POSSESSION: Possession shall be granted at closing, subject to tenants rights to 2016 crop year.

SURVEY: The Seller shall determine any need for a new survey and shall be prepared only when required to convey title as more fully set forth in the purchase agreement. Any new survey provided shall be for the perimeter only when tracts are combined. The survey costs shall be shared 50:50 between Buyer(s) and Seller. Final sales price shall be adjusted to reflect any difference between advertised and surveyed acres on purchased acreage.

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 date has been scheduled and will be staffed with auction personnel. Further, Seller disclaims any and all responsibility for Buyers 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.

ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current aerial photos and neither Seller nor Auction Company warrants such information.

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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