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REAL ESTATE AUCTION - 109+/- ACRES OFFERED IN 5 TRACTS IN DEKALB COUNTY, INDIANA
Thu, Oct 26, 6:00 PM
DeKalb County, Indiana

Owner: James & Patricia Foster

SOLD FOR $715,000

• 109+/- Acres offered in 5 Tracts • Tillable & Wooded • Home & Outbuildings • Online Bidding Available

OPEN HOUSE/INSPECTION DATES
Tues., October 3, 4-6 PM
& Wed., October 18, 4-6 PM



PROPERTY LOCATION
3573 County Road 1, Kendallville, IN 46755.
Directions to site: From 327 south of Corunna, take Co. Rd. 34 west to Co. Rd. 1, turn south to site - Or from 1000 E, take east Lisbon Road to Co. Rd. 1, turn south to site.

AUCTION LOCATION
Dekalb Co. Fairgrounds, 708 S. Union St., Auburn, IN.

TRACT DESCRIPTIONS
Tract 1: 28.8± ac with 28+/- acres tillable, rectangular field with some slope. Frontage on CR #1.
Tract 2: 32.5± ac acres, with 31+/- acres tillable, rectangular in shape with some slope. Access onto CR #1.
Tract 3: 16.3± ac with 11+/- acres tillable and 3+/- acres in CRP. Has drainage with open drain along back side. Frontage on CR #1.
Tract 4: 2.8± ac with house and older out buildings. 1508 sq. ft. home with central heat and wood construction. 34x70 barn, 24x36 shed, 12x32 misc. building. Frontage on CR #1.
Tract 5: 28.5± ac SWING TRACT. 8+/- acres tillable and 3+/- acres in CRP. Approximately 13.26+/- acres of woods. No frontage onto CR #1. Only an adjoining landowner can bid on this tract or combine with other auction tracts.


SOIL INFORMATION

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PROCEDURE: The property will be offered in 5 tracts, any combination of tracts, and as a total unit. 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.

INSPECTIONS AND APPROVALS: There is no current approval from DeKalb County Planning that any of the parcels can be built upon and if a purchaser wants to build on one of the parcels it is their obligation to obtain such information and approval from DeKalb County. The home and buildings are being offered in AS IS conditions. All inspections are the obligations of the potential buyer.

DOWN PAYMENT: A 10% down payment on the day of auction is require, 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: All successful bidders will be required to enter into purchase agreements 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.

DEED: Seller shall provide a Warranty Deed(s).

CLOSING: Closing shall take place within 45 days of proof of insurable title. New title work must be completed with new surveys and legal descriptions if property is sold in separate tracts.

POSSESSION: At closing or after all crops are harvested. 30 days after auction for possession of Tract 4. No appliances stay with home. Buyer has farming rights for 2018. CRP is transferable to new Buyer(s).

REAL ESTATE TAXES: The Seller to pay 2017 taxes and all taxes thereafter.

ACREAGE: All tract acreage, dimensions and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.

SURVEY: The property will b conveyed to the new owner of the entire property with existing survey and legal description. Should the property sell in separate tracts, a new survey of each tract will be completed with the cost of the survey divided 50/50 between Buyer and Seller.

AGENCY: Schrader Real Estate and Auction Company 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 questions 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.