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REAL ESTATE AUCTION - 62+/- ACRES OFFERED IN 2 TRACTS IN TIPTON COUNTY, INDIANA
Mon, Nov 14, 6:00 PM
Tipton County, Indiana

Owner: David & John Savage

SOLD FOR $330,000

• 62+/- Acres offered in 2 Tracts • Tipton County, Indiana • Patton & Del-Rey Soils • Tri-Central Schools • Online Bidding Avaiable

PROPERTY LOCATION
From U.S. 31/C.R. 600 N., Go West on 600 N. approx. 6 miles. The farm has frontage on both 600 N. and 1175 W. Or from Russiaville, at the stoplight, go South on Union St. (a.k.a. 750 W) approx. 2 miles to C.R. 600 S. Turn left (East) and go approx. 1-1/2 miles to the property.

AUCTION LOCATION
Russiaville Lions Club, 555 N. Liberty St., Russiaville, IN 46979

TRACT DESCRIPTIONS
Tract 1: 47± ac of productive tillable cropland featuring Patton Silty Clay Loam and Del-Rey Silt Loam soils. This tract has road frontage on C.R. 600 N.
Tract 2: 15± ac of both tillable and wooded land. Combine with Tract 1 to add more tillable land. Investigate the potential for a country homesite.


SOIL INFORMATION

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PROCEDURE: The property will be offered in 2 tracts or as a total 62 acre unit. There will be open bidding during the auction as determined by the Auctioneer.

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, and are capable of paying cash at closing.

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

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, easements of public record, and 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, 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 and Seller. All lender costs shall be paid by the Buyer.

POSSESSION: Possession is at closing subject to the tenants rights for the 2016 growing crop.

REAL ESTATE TAXES: Seller shall pay all 2016 real estate taxes due and payable in 2017. Buyer shall assume any taxes thereafter. Buyer shall assume any ditch and drainage assessments due after closing.

ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on county tax parcel data, county GIS, existing survey, and aerial mapping.

SURVEY: A new perimeter survey of the auction property will not be provided unless a new perimeter survey is required in order to record the conveyance or unless otherwise deemed necessary or appropriate in Sellers sole discretion. If a new perimeter survey of the property is provided, the survey costs shall be shared equally (50:50) between Buyer and Seller and the purchase price shall be adjusted proportionately to reflect the difference, if any, between the advertised acres and surveyed acres.

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. Further, Seller disclaims any and 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 and all existing easements.

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 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.