Online Bidding: Farm Equipment Real Estate

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Cass County, IN

Owner: Amy Jagger, Deb Schlemmer & Jan Snyder Wed, Jun 8, 1:00 PM EASTERN

• 89.50+/- Total Tillable Acres • 2022 Partial Split Lease Payment for Buyer • Predominate Soils are Fincastle and Cyclone across 95% of the Farm


  • Between Logansport, Peru & Kokomo, Indiana
  • Eastern Cass County
  • 2.5 miles Northwest of Grissom Airport (former Grissom Air Reserve Base)

    Great opportunity to purchase both high quality and high percentage tillable acres! Contact the sales manager for the partial lease payment split.

    ONLINE BIDDING AVAILABLE You may bid online during the auction at You must be registered One Week in Advance of the Auction to bid online. For online bidding information, call Schrader Auction Company at 800-451-2709.


    Saturday, May 28th from 9:00 AM to 11:00 AM
    Meet Schrader representative Todd Freeman roadside at the farm


    Farm is situated 2.5 miles northwest of Grissom Airport on East County Road 500S. From the south, travel north of Kokomo, Indiana on US31, past the Grissom Airport 2 miles to East CR500S, turn west. The farm is situated on the south side of CR500S approximately 2.5 miles. From the north, US24 (Peru) and US31 interchange, travel south approximately 5 miles, to East CR500S, turn west and the farm is situated on the south side of CR500S approximately 2.5 miles.


    Milestone Event Center - 1458 N. Liberator St., Peru IN, 47970 (Grissom Airport)


    Tract 1: 20± ac 20+/- acres tillable, 625ft of frontage along CR500S.

    Tract 2: 40± ac 40+/- acres tillable, 450ft of frontage along CR500S.

    Tract 3: 30± ac 29.5+/- acres tillable, 475ft of road frontage along CR500S.



    PROCEDURE: This property will be offered in 3 individual tracts, combination of tracts, or as a total 90+/- acre unit. There will be open bidding on all tracts and combinations during the auction as determined by the auctioneer. The property will be bid in the manner resulting in the highest total sale price.

    BUYERS PREMIUM: A buyers premium of 2.5% will be added to the final bid price to determine the contract purchase price.

    APPROVAL OF BID PRICES: All successful buyers will be required to execute an Agreement to Purchase Real Estate and Addendum 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.

    DOWN PAYMENT: 10% down payment on the day of auction with the balance in cash at closing. 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.

    CLOSING: The balance of the purchase price is due at closing, which shall take place within 10 days from delivery of marketable title. Closing on or about July 8th, 2022 is anticipated. Closing costs for an administered closing shall be shared 50:50 between Buyer(s) and Sellers.

    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.

    POSSESSION: Possession shall be given at closing, current farming tenant shall have all rights for the 2022 growing season to enter, plant and harvest the crop. Buyer to receive partial split of the 2022 farming lease.

    REAL ESTATE TAXES: Taxes shall be prorated to the date of closing. Buyer shall assume any Ditch Assessments due after closing.

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

    FSA INFORMATION: The Cass County FSA Office shall make all acreage and base yield determinations.

    EASEMENTS: Sale of the property is subject to any and all easements of record.

    MINERAL RIGHTS: The sale shall include 100% of the mineral rights owned by the Seller, if any.

    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 the auction. Any need for a new survey will be determined solely by the Seller, cost of the survey will be split 50/50 between Buyer and Seller. The type of survey performed shall be at the Sellers option and sufficient for providing title insurance. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres. Current legal descriptions shall be used to convey the property if sold in combinations that wouldn't require a new survey to convey the property.

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

    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.

    DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials is subject to the Terms and Conditions outlined in the Purchase Agreement. Your bids are to be based solely upon your inspection. All real estate is sold as is without physical warranty. Seller and agent are not assuming any responsibility for warranty of any specific zoning classifications, location of utilities, assurance of building permits, driveway permits or water and septic permits. Tract acreage has been estimated based on aerial photographs. The property is being sold on an AS IS, WHERE IS basis, and no warranty or representation, either express or implied, concerning the property is made by the Seller or the Auction Company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquires, 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. All sketches and dimensions in this brochure are approximate. Except for any express warranties set forth in the sale documents, purchaser(s) assumes all risks thereof and acknowledges that in consideration of the other provisions contained in the sale documents, Seller and the Auction Company make no warranty or representation, express or implied or arising by operation of law, including an warranty of merchantability or fitness for a particular purpose of the property, or any part thereof, and in no event shall Seller or the Auction Company be liable for any consequential damages. Conduct of the auction and increments of bidding are at the direction and discretion of the auctioneer. The Seller and Auction Company 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.