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5426 W. 350 S., Albion, Indiana - Noble County, Indiana

Owner: Sherrill E. Ferguson Tue, Aug 18, 6:00 PM

• Mini Farm with Home & Barn • 20+/- Acres offered in 2 Tracts & as a whole


Sun., July 19 from 2-4pm
Wed., July 22 from 5-7pm

Or call Auction Manager to set up a private showing or walk-over inspection (260.410.1996)


5426 W. 350 S., Albion, Indiana 46701


Held On Site


Tract 1: 5± ac HOME, BUILDINGS, 5+/- ACRES: What a great Mini Farm!! This tract features a great 4 bedroom, 2 full bath, 11/2 story & home on a partial basement. The home features a spacious open kitchen with lots of cabinets & cook top bar. There is a large eat-in area with a beautiful trayed ceiling. There is an enclosed front porch off of the kitchen towards the front. The kitchen includes gas cooktop & newer Kenmore dishwasher. The first main level bedroom off the kitchen has a walk-in closet & a full bath with shower & tub. There is also an access door out to the front porch from the bedroom. The large family room has a wood burning stove. There is an additional bedroom on the main level with a full bath. There is also a nice den for office on the main level. There are two additional bedrooms upstairs along with a large landing for a play area or office. Off of the back of the family room is a beautiful 3 season room with a fantastic view of the back of the property. The attached garage has extra space for storage & an access to the front & back of the house. There is a rain garden near the front of the home with native plants. The large barn with metal siding & roof has a 600 sq. ft. finished workshop with water spigot. The main portion of the barn has 14 ft. wide x 14 ft. high sliding doors. There is also a full length 16 ft. concreted lean to across the back with 12 ft. sliding doors. There are also stairs to storage above the workshop area. There is a 20 ft. x 24 ft. detached garage with 16 ft. wide & 7 ft. high overhead door with opener. There is a two story 10 ft. x 12 ft. garden shed with 8 ft.wide x 6 ft. high overhead door. There are numerous fruit trees in the yard plus a large grape arbor. There are approximately 2 acres in the back of the property for pasture. The home is serviced by well & septic. The road frontage of this tract is approximately 325 ft.. The Beal Branch ditch is the entire east property line. Part of the 2 acres is currently & was recently enrolled in the CRP program. Call office for CRP details.

Tract 2: 15± ac This tract has a beautiful rolling terrain for a terrific potential building site!! This tract has 160 ft. of road frontage. It runs back approximately 1,200 ft. in depth. There is a thick line of pines along the west line of this tract. The property runs back against a neighboring woods. The soils are a combination of Pewamo silty clay, Glynwood silt loam & a couple of pockets of Houghton muck. Again, the Beal Branch ditch is the entire east property line. This tract is a natural draw for wildlife from turkeys, pheasants, & deer. This tract is currently & recently enrolled in CRP program. Call office for CRP details.

$3135 Annual CRP income through 2027 on Tract 2 and part of Tract 1. Buyer(s) shall be responsible for CRP payment reimbursement to FSA should Buyer(s) decide to remove any or all acres from the current CRP contracts. CRP Contract started in 2017.



PROCEDURE: The property will be offered in 2 individual tracts, combination of tracts, & as a total 20.406+/- acre unit. There will be open bidding on both tracts & the combination during the auction as determined by the Auctioneer. Bids on each tract & the tracts combination may compete.

DOWN PAYMENT: $5000 down on Tract 1 & the Combination of Tracts 1 & 2. 10% down payment on the day of auction for Tract 2. 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, & 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: Seller shall provide an owners title insurance policy in the amount of the purchase price.

DEED: Seller shall provide Warranty Deed(s).

CLOSING: The balance of the real estate purchase price is due at closing, which will take place approx. 30 days after the auction, on or before September 18, 2020.

POSSESSION: Possession is at day of closing.

REAL ESTATE TAXES: The 2020 Real Estate taxes due in 2021 shall be pro-rated to the day of closing. Buyer to pay all taxes thereafter. Buyer(s) to pay all ditch assessments after the closing.

PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries & due diligence concerning the property. Inspection dates have been scheduled & will be staffed w/ auction personnel. Further, Seller disclaims any & 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.

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

SURVEY: A perimeter survey provided by Hand to the Plow Surveying, LLC shall be furnished. Any need for a new survey shall be determined solely by the Seller. Seller & successful bidder shall each pay half (50:50) of the cost of the perimeter survey any new survey. The type of survey performed shall be at the Sellers option & sufficient for providing title insurance. Combination purchases will receive a perimeter survey only.

CRP PROGRAM: It shall be the Buyer(s) s responsibility to contact the Noble County Farm Service Agency w/ any change to the current CRP contract. It shall also be the cost of the Buyer(s) to the FSA should any land be taken out of the CRP program prior to the expiration of the CRP contract.

AGENCY: Schrader Real Estate & Auction Company, Inc. & its representatives are exclusive agents of the Seller.

DISCLAIMER & ABSENCE OF WARRANTIES: All info contained in this brochure & all related materials are subject to the terms & conditions outlined in the Purchase Agreement. The property is being sold on an AS IS, WHERE IS basis, & no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches & dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, & due diligence concerning the property. The info 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 & increments of bidding are at the direction & discretion of the Auctioneer. The Seller & 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.