PROCEDURE: The property will be offered at oral auction as individual tracts and in combination.

DOWN PAYMENT: $2,000 down payment on the day of auction for single tracts and the combination with the balance in cash at closing. The down payment may be made in the form of cash, cashiers check, personal check or corporate check. The sale of tracts 1 and 2 or the combination will be a cash transaction due to the condition of the improvements. No conventional, FHA, VA, or other lender financing will be accepted. Potential buyer(s) may use a line of credit or home equity loan against any real estate already owned by the potential buyer(s) to secure cash for the closing. The sale of tract 1 and 2 or the combination is not contingent on the buyer(s) securing a line of credit or home equity loan and must be capable of paying cash at closing. If the buyer(s) are unable to pay cash at the closing, the down payment shall be forfeited.

ACCEPTANCE OF BID PRICES: The successful bidder(s) will be required to enter into a purchase agreement at the auction site immediately following the close of the auction. Seller reserves the right to reject any and all bids.

EVIDENCE OF TITLE: Seller shall provide an owners title insurance policy in the amount of the purchase price. Preliminary title work has been ordered through Metropolitan Title and is available upon request.

DEED: Seller shall provide a Warranty Deed.

CLOSING: The balance of the purchase price is due at closing. The closing shall take place approximately 30 days after the auction, on or before October 9, 2020. Costs for an insured closing shall be shared 50:50 between Buyer(s) and Seller.

POSSESSION: Possession given the day of closing, immediately following the closing.

REAL ESTATE TAXES: Real Estate Taxes will be pro-rated to the day of closing.

SURVEY: A new perimeter survey will be completed on tracts 1 and 2 or the combination only if necessary for closing. The seller and successful bidder(s) shall each pay half (50:50) of the cost of the survey. If tracts 1 and 2 are sold separately, the successful bidders for tracts 1 and 2 will only pay half of the survey cost for the tract in which they bought. The type of survey performed shall be at the Sellers option and sufficient for providing title insurance.

AGENCY: Schrader Real Estate & Auction Co. of Fort Wayne, LLC., 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 express, 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 conduct of his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in the brochure is subject to verifications by all parties relying on it. The Seller or the Auction Company assumes no liability for its accuracy, errors, or omissions. Conduct of the auction and increments of bidding are at the 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 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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