SOLD

REAL ESTATE AUCTION 40+/- ACRES OFFERED IN 3 TRACTS IN NEWTON COUNTY, INDIANA

Morocco, IN (Newton County)

Owner: Donald R. Glenn Mon, Nov 14, 2022 CENTRAL

AUCTION IS OVER

TOTAL SOLD: $485,000

Tract(s): 1-3 @ $485,000 ($12,125/acre)

• Good Hunting Property • Recreational Acres • Property is Located Across CR 275 S from the Willow Slough Wildlife Area • 1 1/2 Story Home in a Secluded Wooded Area on Tract 1 • 1.5+/- miles North and West of Morocco, Indiana


OPEN HOUSE/INSPECTION DATES

Tuesday, October 25 from 3-5pm Central
Thursday, November 3 from 3-5pm Central

Meet a Schrader Representative at the property

PROPERTY LOCATION

4655 W 275 S, Morocco, IN 47963
From the intersection of US 41 & SR 114 (east of Morocco, IN), take CR 400 S (Michigan) west approx. 3 miles to CR 500 W. Go north on CR 500 W for 11/4 miles to CR 275 S, then take CR 275 S approx. 1/4 mile east. The property is on the south side of CR 275 S

AUCTION LOCATION

Beaver Township Community Center, 409 S Polk St, Morocco, IN 47963
From east of Morocco at the junction of US 41 & SR 114, go west on Michigan (CR 400 S) approx. 3/4 mile to Polk St. Turn north on Polk St. & travel 1/8 mile to auction site on your right. The Beaver Township Community Center adjoins the Fire Station.

TRACT DESCRIPTIONS

Tract 1: 3± ac tract of land with a 11/2 story home, with 4 bedrooms, 11/2 bath & a 12'x30' screened-in porch. It also has a 24'x32' garage with one overhead electric door opener. This tract has frontage on CR 275 S. NOTE: If Tract 1 sells separate from Tract 3, the Buyer of Tract 1 will have the right to use the common driveway for a period of 6 months after closing of Tract 1. This 6-month period of time will allow the Tract 1 Buyer to install a new driveway cut into their property.

Tract 2: 17± ac parcel of wooded land which has a small creek between the east side of Tract 1 & Tract 2. Tracts 1 & 2 have a combined est. road frontage of 660' +/- on CR 275 S.

Tract 3: 20± ac tract of land mostly all wooded except for a small open area up close to CR 275 S. This tract has approx. 660'+/- of frontage on CR 275 S. Check out the potential of building a home on this tract.

TRACT MAP(S)

Tracts 1-3

AREA MAP(S)

PROCEDURE: The property will be offered in 3 individual tracts, any combination of tracts & as a total 40+/- acre unit. There will be open bidding on all tracts & combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations & 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 cashier's 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 final bid prices are subject to the Seller's acceptance or rejection. All successful bidders will be required to sign Purchase Agreements 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, & 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(s), at Seller's expense, an updated title commitment prior to closing. The cost of providing an Owner's Title Policy shall be paid for by Seller at closing.

CLOSING: The balance of the purchase price is due at closing. The targeted closing date will be approximately 30 days after the auction or as soon thereafter upon completion of surveys, if applicable, the final title commitment & Seller's closing documents. Costs for an administered closing shall be shared 50:50 between Buyer(s) & Seller. All lender costs shall be paid by the Buyer(s).

POSSESSION: Possession is at closing.

REAL ESTATE TAXES: Real estate taxes to be prorated to the date of closing. Buyer(s) shall assume any ditch & drainage assessments due after closing.

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

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 or where Seller otherwise determines a survey is appropriate. Any need for a new survey shall be determined solely by the Seller. Seller & successful bidder(s) shall each pay half (50:50) of the cost of the survey. The type of survey performed shall be at the Seller's option & sufficient for providing title insurance. If Seller determines a survey is needed, combined purchases will receive a perimeter survey only. Final sales price shall be adjusted to reflect any difference between advertised & surveyed acres, except for Tract 1 or any combination that includes Tract 1.

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 Bidder's 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 & all existing easements.

STOCK PHOTOGRAPHY: Deer & turkey photos used are for illustrative purposes only & were not taken on the auction property.

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

DISCLAIMER & ABSENCE OF WARRANTIES: All information 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 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 & 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 person's 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.