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LAND AUCTION - 150+/- ACRES IN 1 TRACT IN PULASKI COUNTY, INDIANA

Pulaski County - Winamac, Indiana

Owner: Doug & Cheryl Podell Thu, Jan 23, 2020

SOLD FOR $900,000

• 150+/- Acres offered in 1 Tract • 13+/- Miles SW of Winamac, IN • 8+/- Miles SE of Francesville, IN • Irrigated Farm • Quality Land • ONLINE BIDDING AVAILABLE You may bid online during the auction at www.schraderauction.com. 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.


OPEN HOUSE/INSPECTION DATES

Wed., Jan. 8 from 3-5pm (EST) or call Jim for a private showing.

PROPERTY LOCATION

From the intersection of SR 39 & SR 14, take SR 14 2 miles east to CR 700W, then take CR 700W 6 miles south. The property is on the SE corner of 700W & 600S.

AUCTION LOCATION

Knights of Columbus Hall, 340 E 50 N, Winamac, IN
From the intersection of SR 14 & US 35, take US 35 approximately 1/2 mile north to CR 50 N (Alliance Bank), turn & go east approximately 1/2 mile east to Knights of Columbus Hall.

TRACT DESCRIPTIONS

Tract 1: 150± ac tract of land with 135.7 tillable acres & 8.1 acres in CRP program. This tract has quality soils, A Valley 3 Tower towable center pivot, JD power unit (4906 hrs.) generator & 2017 Berkley 25 hp, 3 inch electric pump. This tract has frontage on CR 700W, 600S & 650 S.
RE Taxes (2018 - Pay 2019): $1,671.26/yr. Other (Ditch): $205.76/yr.

YIELD INFO:
2016 - Irrigated: 181 bu. - waxy - Non-Irrigated: 124 bu. & 154 bu. - waxy
2017 - Irrigated: 181 bu. - waxy - Non-Irrigated: 51 bu. & 52 bu.
2018 - Irrigated: 198 bu. - waxy - Non-Irrigated: 146 bu.
2019 - Irrigated: 54 bu. (average for irrigated & non-irrigated)

FSA INFO (FARM #7850):
Farmland - 147.96 ac.
Cropland: 143.8 ac. - effective ac. 135.7
CRP: 8.10 ac.
Corn Base: 105 ac. - PLC Yield 121 bu.
Soybean Base: 6.2 ac. - PLC Yield 39 bu.

CRP PROGRAM
Field 11 - 2 ac.; Payment $190.24/ac.; Expires 9/30/2021
Field 13 & 15 - 6.1 ac.; Payment $192.55/ac.; Expires 9/30/2021
Buyer must remain in this CRP program. If they chose to remove, the Buyer will reimburse Podell/FSA for any back payments & penalties.

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURE: The property will be offered as a total 150+/- acre unit.

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, & are capable of paying cash at closing.

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

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, easement 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 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. Costs for an administered closing shall be shared 50:50 between Buyer & Seller. All lender costs shall be paid by the Buyer.

POSSESSION: Possession is at closing.

REAL ESTATE TAXES: Seller shall pay all 2019 real estate taxes due & payable in 2020. Buyer shall assume any taxes thereafter. Buyer 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.

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 shall each pay half (50:50) of the cost of the survey. The type of survey performed shall be at the Sellers option & sufficient for providing title insurance. Final sales price shall be adjusted to reflect any difference between advertised acres & surveyed acres.

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 has 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.

EASEMENTS: Subject to any & all existing easements.

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 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.

Auction Brochure

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