REAL ESTATE AUCTION - 70.24+/- ACRES OFFERED IN 2 TRACTS IN WOOD & SMITH COUNTIES, TEXAS

13426 County Road 468 Tyler, TX 75704 - Wood & Smith Counties, TX

Owner: The Estate of Meshell L. Schloss and Emerald Light LLC Thu, Feb 29, 2024 CENTRAL

AUCTION IS OVER

• Heavily Wooded • Weekend Getaway Location • Lake Home • Off-Grid Living

Auctioneer: Rex D. Schrader II (TX Auctioneer's Lic. #17409), in cooperation with Paul A. Lynn & Associates, LLC (TX Broker #9000489)

The Estate of Meshell L. Schloss and Emerald Light LLC are pleased to offer a unique set of properties in Smith and Wood Counties, Texas totaling 70.24+/- acres that have been cared for by a caretaker since purchased. Tract 1 "The Farm" situated off of County Road 2700 in Wood County offers 68.926+/- acres of heavily wooded land with a 1636 sq. foot 1 bed 2 bath cabin on a pond just shy of 2 acres as well as a 2206 sq. foot barn with a recently finished 632 sq. foot living space in the upstairs. Although supported by rural water and power, this property is able to be supported off grid by a like new 14KW solar system, 920ft domestic well, septic system and (2) 1000 gallon nearly full buried propane tanks. With a trail through the woods and a handful of open meadows, this property provides the opportunity to be a dream weekend vacation spot for the friends and family. Tract 2 "The Lake House" boasts a 2123 sq. foot 3 bed 2 bath ranch style home with waterfront access to Swan Lake in Smith County. Serviced by rural water, it also has a domestic well, backyard sprinkler system, septic and an aerobic sprinkler system. Combine Tracts 1 and 2 for the ideal living situation of a home in town and a wonderful secluded getaway spot!


Auction Info Book


OPEN HOUSE/INSPECTION DATES

INSPECTION DATES - TRACT 1:
Wednesday, February 7th from Noon-2:00pm
Thursday, February 8th from Noon-2:00pm
Friday, February 23rd from Noon-2:00pm
Saturday, February 24th from Noon-2:00pm
Wednesday, February 28th from 3:00-5:00pm

INSPECTION DATES-TRACT 2:
Wednesday, February 7th from 9:00-11:00am
Thursday, February 8th from 9:00-11:00am
Friday, February 23rd from 9:00-11:00am
Saturday, February 24th from 9:00-11:00am
Wednesday, February 28th from Noon-2:00pm
Or call Auction Manager for an appointment.

PROPERTY LOCATION

For Tract 1 - From the intersection of Hwy 69 and Hwy 80 in Mineola, head east on Hwy 80 for 3 miles then turn South (right) onto County Road 2740 and travel for 0.2 miles then go East (left) at the split onto County Road 2700. Travel on County Road 2700 for 0.4 Miles and the auction sign will be at the curve.
For Tract 2 - From the intersection of Hwy 69 and County Road 468 in Swan, head West on County Road 468 for 2.3 miles and property will be on the North side of the road. 13426 County Road 468 Tyler, TX 75704

AUCTION LOCATION

2050 County Road 2700 Mineola, TX 75773

TRACT DESCRIPTIONS

Tract 1: 68.9± ac of heavily wooded land with a 1 bed 2 bath 1636 sq. ft. cabin on a pond just shy of 2 acres and a 2206 sq. ft. barn complete with a 632 sq. ft. living space upstairs. While serviced by rural water and electricity, this property is able to be powered by the like new 14 KW solar system, a 920ft domestic well and (2) 1000 gallon buried propane tanks that are nearly full to offer energy independence.

Tract 2: 1.3± ac A 2123 sq. ft. 3 bed 2 bath ranch style home situated on 1.315+/- acres with waterfront access to the serene Swan Lake. This property features rural water and its own well, septic, sprinkler system for the backyard and an aerobic sprinkler system for the front yard.

TRACT MAP(S)

Tract 1

Tract 2

AREA MAP(S)

Auctioneer: Rex D. Schrader II (TX Auctioneer's Lic. #17409), in cooperation with Paul A. Lynn & Associates, LLC (TX Broker #9000489)

PROCEDURE: The property will be offered in two (2) individual tracts or combination. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts or tract combinations may compete. The property will be bid in a manner resulting in the highest total sale price.

BUYERS PREMIUM: A Buyers Premium equal to 5% shall be added to the high bid amount to arrive at the total contract purchase price.

DOWN PAYMENT: 10% down payment at close of the 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, 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. The terms of this agreement and any addendum are non-negotiable.

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).

CLOSING: The balance of the real estate purchase price is due at closing, which is targeted to take place on or before April 12, 2024.

POSSESSION: Buyer(s) shall receive possession at closing.

REAL ESTATE TAXES: Real estate taxes will be pro-rated to the date of closing.

MINERALS: Seller specifically excepts and reserves all minerals, if any, associated with the referenced real estate, and the term "Property" will not include any mineral rights.

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 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.

TRACT MAP(S) AND ACREAGE: All tract map(s), tract acreage, dimensions and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos. They are not provided as survey products and are not intended to depict or establish authoritative boundaries or locations.

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. 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. Combination purchases will receive a perimeter survey only.

EASEMENTS: All real estate is being sold subject to any existing recorded easements.

AGENCY: Schrader Real Estate and 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.