• 4 Year Old 3520 sq. ft., 7 Bedroom Home, 2 baths, includes full basement, 912 sq. ft. summer kitchen, barn, shop or tool shed, chicken coop, stocked pond • Tillable Land • Approved Building Site
REAL ESTATE AUCTION - Country Home, Many Outbuildings, Stocked Pond and Tillable Land
SPENCERVILLE, IN
Owner: Solomon J., Anna Mae, Joseph S. & Edith A. Wickey Sat, Oct 16, 2010 EASTERNAUCTION IS OVER
OPEN HOUSE/INSPECTION DATES
Wednesday, September 29: 5-7PM
Saturday, October 2: 1-5PM
PROPERTY LOCATION
From Spencerville, IN - travel West 3 miles on Co. Rd. 68. Turn North 1 mile on Co. Rd. 43 to property on Northwest corner.
AUCTION LOCATION
Auction to be held at the Spencerville Community Building west of Highway 1 on County Road 68.
PROPERTY DESCRIPTION
40 Acres in 3 tracts
TRACT DESCRIPTIONS
Tract 1: 20± ac This tract is nearly all tillable with 85% of the soils being Blount soil type and approximately 15% being Pewamo, level to gently rolling terrain, and highly productive. This tract is unique in that it has been previously platted as part of the McNabb Subdivision and already has an approved building site, saving the buyer thousands of dollars should you decide to build. This tract has approximately 700' of frontage on CR 64.
Tract 2: 10± ac This nearly all tillable tract is approximately 95% highly productive Blount soil type, nearly level to gently rolling with approximately 5% Pewamo. This is an agricultural tract with approximately 625' of frontage on CR 43. Any future plans to build must first gain approval from the DeKalb County Planning Commission and Building Department.
Tract 3: 10± ac This 10 acre tract contains all of the improvements: a 4 year old 2 story Amish style home with 7 bedrooms, 3520 sq. ft. of living area, plus a 1760 sq. ft. full basement. A pantry and breezeway connect the main house to a 912 sq. ft. summer kitchen. An 8'x36' front porch and a 16'x20' patio. This Amish style home has indoor plumbing including 2 full baths. The large kitchen and summer kitchen have custom oak cabinets, flooring is glazed 0SB except in baths, pantry, and summer kitchen that have linoleum. Also includes an 8'x8'x36' cistern under front porch. Other improvements include a 34'x74' barn with new foundation, metal roof and siding, lofted on each end, a 40'x60' shop & tool shed, and a 14'x20' chicken coop. An approximately 3/4 acre pond is 8 years old, well stocked, and located just north of the home.
AREA MAP
TRACT MAP(S)
PLAT MAP(S)
AUCTION TERMS & CONDITIONS
PROCEDURE: The property will be offered in 3 individual tracts, combinations of tracts and as a total 40-acre unit. There will be open bidding on tracts, combinations and the total during the auction as determined by the Auctioneer. Bids on individual tracts, tract combinations and the total property may compete.
DOWN PAYMENT: 10% down payment on the day of the auction. 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, 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. All final bid prices are subject to the Sellers’ acceptance or rejection.
EVIDENCE OF TITLE: Seller shall provide an owner’s title insurance policy in the amount of the purchase price.
DEED: Seller shall provide Warranty Deed(s). Tract 1 is part of an existing platted subdivision known as the McNabb Manor Subdivision. Because of this, Tract 1 will be deeded seperately, even if purchased in combination by the Buyer.
CLOSING: The balance of the purchase price is due at closing, which will take place within 15 days of presentation of insurable title. Costs for an administered closing shall be shared 50:50 between Buyer(s) and Seller.
POSSESSION: Possession will be at closing. Subject to farm tenant’s rights to harvest 2010 growing crop.
REAL ESTATE TAXES: Real estate taxes will be pro-rated to date of closing.
PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquires and due diligence concerning the property. Inspection dates have been scheduled and will be staffed with auction personnel. Further, Seller disclaims any and 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.
ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.
SURVEY AND CLOSING PRICES: 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. Any need for a new survey shall be determined solely by the Seller. Seller and successful bidder shall each pay half (50:50) of the cost of the survey. The type of survey performed shall be at the Seller’s option and sufficient for providing title insurance. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres, with the exception of Tract 3 with home and buildings, or any combination including Tract 3
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 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.
None at this time
