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REAL ESTATE AUCTION - 143+/- ACRES OFFERED IN 7 TRACTS IN WHITLEY COUNTY, INDIANA

Whitley County, Indiana - Etna Troy Township

Owner: Joann Kemery Estate Wed, Mar 14, 6:00 PM

• 143+/- Acres offered in 7 Tracts • 3 Bedroom Ranch Home with Outbuildings • 113 Acres Tillable • Several Potential Building Sites • Excellent Hunting Tract • Online Bidding Available • 5.5 miles West of Columbia City on Lincoln Way Road


Auction Info Book


OPEN HOUSE/INSPECTION DATES

Thursday, February 8 from 4-6 PM
Saturday, February 24 from 9-11 AM
Saturday, March 3 from 9-11 AM

Meet at Tract 1

PROPERTY LOCATION

5.5 miles west of the intersection of Lincoln Way and US Hwy 30 on both sides of Lincoln Way. Tracts 6 & 7 are located on County Road 550 W, 1/2 mile south of Lincoln Way.

AUCTION LOCATION

Northern Heights Elementary School, 5209 N. State Rd. 109, Columbia City, IN.

TRACT DESCRIPTIONS

Tract 1: 2.5± ac with custom built 1-story 1532 sq. ft. ranch home with vinyl siding & metal roof. This home features 3 bedrooms, kitchen, 1-1/2 baths, dining/living room combination, hardwood floors, full basement plus an attached garage. Other improvements include 1530 sq. ft. barn with 1020 sq. ft. lean to, 1800 sq. ft. open sided building + drive-through corn crib. 4960 W 400 N, Columbia City, IN.

Tract 2: 35± ac of productive tillable farmland. This tract is all tillable except road frontage on County Road 400 N. Miami Sandy Loam is the predominate soil type on this tract.

Tract 3: 7.5± ac SWING TRACT. This tract must be purchased by joining neighbor or in combination with Tract #2.

Tract 4: 9± ac with frontage on County Road 400 W and Lincoln Way Road. Investigate the possibility of this tract as a possible future rural estate building site.

Tract 5: 26± ac with approximately 18 acres of productive tillable land. Easy access from Lincoln Way Rd. The two predominate soil types are Miami Sandy Loam and Mermill Loam on the 18 acres of productive tillable land. The balance of the acreage is mixed hardwood trees.

Tract 6: 34.5± ac of productive tillable farmland. The 3 predominate soil types on this tract are Miami Clay Loam, Riddles Sandy Loam, and Brookston Loam. Easy access from County Road 550 West.

Tract 7: 28± ac with approximately 18 acres of tillable farmland and approximately 10 acres of woodland. Investigate the potential of this tract as a hunting recreational tract and also as a secluded building site. This tract has multiple uses be prepared to bid your price. Combine tracts 6 and 7 for 50 acres of productive tillable farmland.

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURE: The property will be offered in seven (7) individual tracts, any combination of two (2) or more tracts and as one (1) entire tract at the date and time noted in this brochure. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneers. Bids on tracts, tract combinations, and entire tract may compete.

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.

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

DEED: Seller shall provide a Warranty Deed sufficient to convey insurable title to the real estate. Real estate is sold subject to all rights of way, legal highways, leases, easements of public record, and all other matters of public record.

EVIDENCE OF TITLE: Seller shall provide a preliminary title insurance commitment for review prior to auction. Seller agrees to furnish Buyer, at Sellers expense, an updated title commitment prior to closing. The cost of providing an Owners Title Policy shall be paid for by Seller at closing.

CLOSING: The balance of the purchase price is due at closing, which will take place 30 days after auction day, or as soon thereafter as applicable closing documents are completed by the Seller. The closing on Tract 4 is subject to approval of the Whitley County Planning Commission at the February 21st meeting. Costs for an administered closing shall be shared 50:50 between Buyer and Seller. All lender costs shall be paid by the Buyer.

POSSESSION: Possession of the land and home is at closing. However, possession of the land can be obtained prior to closing with an additional 10% down payment.

REAL ESTATE TAXES: Seller shall pay all 2017 real estate taxes due and payable in 2018. Buyer shall assume any taxes thereafter. Buyer shall pay all other assessments including drainage assessments, if any, that are last payable without a penalty after the date of closing.

ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on county tax parcel data, county GIS and/or aerial mapping.

SURVEY: It is expected that the property will be conveyed using existing legal description(s). A new perimeter survey of the auction property will not be provided unless a new perimeter survey is required in order to record the conveyance or unless otherwise deemed necessary or appropriate in Sellers sole discretion. If a new perimeter survey of the property is provided, the survey costs shall be shared equally (50:50) between Buyer and Seller and the purchase price shall be adjusted proportionately to reflect the difference, if any, between the advertised acres and surveyed acres.

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. An inspection date 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.

EASEMENTS: Subject to any and all existing easements.

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.