• Co. Rd. 300 N & Hwy. 103, New Castle • East Access to New Castle, Muncie & Richmond • Three Homes • Excellent Cropland • Pretty Woodland • Walnut Plantation • Blue River Schools
175+/- Acres in 5 Tracts
Henry County, Indiana - Between New Castle & Muncie
Owner: Wilburne C. Stamper, Jr. and Ruth Stamper (Tracts 1-4), John W. Stamper (Tract 5) Thu, May 5, 2011 EASTERNAUCTION IS OVER
OPEN HOUSE/INSPECTION DATES
Sat., April 16th from 9-11 AM, Sat., April 23 from 9-11 AM, Sat., April 30 from 9-11 AM, Day of Sale from 2-4 PM
PROPERTY LOCATION
3 miles north of New Castle, Indiana or 14 miles south of Muncie, Indiana. From New Castle at Hwy. 38 and Hwy. 103 north 3 mi. to property at Hwy 103 and Co. Rd. 300N. From Muncie south on Hwy. 3 to Hwy. 36, then east 2 mi. to Hwy. 103 then south 2 mi. to property on the west side.
AUCTION LOCATION
Raintree Center, 3637 S. Memorial Dr., New Castle. 3 miles south of New Castle on Hwy. 3 or 2 miles north of intersection of I-70 and Hwy. 3.
TRACT DESCRIPTIONS
Tract 1: 60± ac with 46 acres cropland and 11 acres Classified Forest. One field with 2,094 ft. of frontage on Hwy. 103. Buyer to receive 2011 crop rents.
Tract 2: 19± ac 19 acres with two story 1,970 sq. ft. farmhouse, newer 24 ft. x 44 ft. sq. ft. one story home and 42 ft. x 64 ft. barn. Great pond and park like setting with walnut plantation. 534 ft. of frontage on Hwy. 103 and 425 ft. of frontage on Co. Rd. 300N. Great property with newer grandmother small home, office or business.
Tract 3: 25± ac (swing tract). Great woods with 14 acres in Classified Forest. This tract will be offered only in combination with Tracts 1, 2 or 4.
Tract 4: 63± ac with 57.4+ acres cropland. Adjoins Blue River and subject to Blue River Conservation Easement along bank. A lot of good Westland soils. Buyer to receive 2011 crop rents.
Tract 5: 8± ac with beautiful 2,045 sq. ft. ranch home built 1982 with four bedrooms, 2 ½ baths, fireplace and central air. Great landscaping and view. This property has about 780 ft. of frontage on Co. Rd. 300N and has county approved new separate driveway entrance on Co. Rd. 300N. Buyer to have six months to build new driveway at Buyer ft.s cost. 2010 taxes were $3,021.
AREA MAP
TRACT MAP(S)
SOIL INFORMATION
PLAT MAP(S)
AREA MAP(S)
PROCEDURES: The property will be offered in individual tracts, any combination of tracts, or as a total 175 acre unit, except Tract 3 must be purchased in combination with adjoining tracts. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations and the total property may compete.
DOWNPAYMENT: Real Estate 10% down payment on the day of the auction 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. 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: Successful bidder(s) will be required to enter into a purchase agreement at the auction site immediately following the close of the auction. All final bid prices are subject to the Seller ft.s acceptance or rejection.
EVIDENCE OF TITLE: Sellers shall provide an owner ft.s title insurance policy in the amount of the purchase price.
DEED: Sellers shall provide Warranty Deed.
CLOSING: The balance of the real estate purchase price is due at closing, which will take place within 15 days of presentation of title policy estimated on or before June 30, 2011.
POSSESSION: At closing subject to 2011 cropland lease, (Tracts 1 & 4) and residential lease for house on Tract 2 expiring August 31, 2011.
REAL ESTATE TAXES: Buyer to pay installment due and payable May 2012. Taxes estimated at $22/acre per cropland acre. 2010 Taxes: Wilburne Stamper Total $4,099.56/yr. John Stamper est. $3,021.35 (Tract 5). Tract estimates are as follows: Tract 1: $950/yr. Tract 2: $2,000/yr. Tract 3: $60/yr. Tract 4: $1,364/yr.
ACREAGE: All boundaries are approximate and have been estimated based on current legal descriptions.
SURVEY: A new survey will be made where there is no existing legal description or where new boundaries are created by the tract divisions in this auction. Buyer(s) and Seller will share survey expense 50:50. Combination purchases will receive a perimeter survey only. Closing prices will be adjusted to reflect any differences between advertised and surveyed acreage's.
LEASES: Tracts 1 & 4 Buyer(s) to assume 2011 crop lease. Buyer(s) to receive second half of crop rents at $65/crop acre paid November 1st. Tract 2 Buyer to receive house rental income at $500/month prorated for a period of less than one month unless possession at closing.
FSA INFORMATION: Farm #573, Tract #3045. Total 104 acres cropland. Corn base of 49.2 acres with yield of 109 Bu., and Soybean base of 49.1 acres with yield of 30 Bu. CRP 4.8 acres. 2011 direct annual payment is $1,791.00.
EASEMENTS: Sale of the property is subject to any and all easements of record.
MINERAL RIGHTS: The sale shall include 100% of the mineral rights owned by the Seller.
ZONING: Agriculture. The property is sold subject to Henry County Zoning Ordinance and State of Indiana Classified Forest Program (Tracts 1 & 3).
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 Ã
None at this time
