REAL ESTATE AUCTION - 1,013 ACRES IN 21 TRACTS IN MARTIN COUNTY, INDIANA
Tue, Jun 12, 6:00 PM
Martin County, Indiana - Southern Indiana - Near the Hoosier National Forest
Owner: DMI Martin County Farms LLC
SOLD FOR $3,425,780
• 1,013+/- Acres in 21 Tracts • Hunting / Recreational Paradise • Productive Tillable Land • Potential Building Sites • White River Frontage • Sawmill / Managed Timber • 5 Homes • 15+/- Miles East of Loogootee • 20+/- Miles West of Bedford • 35+/- Miles Southwest of Bloomington • Southern Indiana - Near the Hoosier National Forest • Online Bidding Available • CALL FOR INFO ON PERSONAL PROPERTY AUCTION: Saturday, June 16th, 10am
OPEN HOUSE/INSPECTION DATES
Thur., May 24th from 4-6pm
Sat., June 2nd from 10am-Noon
Wed., June 6th from 11am-1pmMeet a Schrader representative at Tract 1 for more information and guided ATV tours!
PROPERTY LOCATION
From the intersection of State Route 37 and US Highways 158/50/450, near the Lowes in Bedford, travel west on US Highway 158/450 then the next left turn South on US Highway 450/Williams Road. Continue on US Highway 450/Williams Road 16.3 miles to the property. Along the way you will need to keep left twice to stay on 450. Once to the properties on US Highway 450, follow signs to the other farms.
AUCTION LOCATION
Lawrence County Fairgrounds, 11261 US Highway 50W Bedford, IN 47421.
TRACT DESCRIPTIONS
Tract 1: 12.6± ac This 78+/- acre farm includes a 3-bedroom ranch on a full basement, 2 barns, and beautiful fencing. There are approximately 8+/- acres tillable. The balance is in woods. A portion of the woods is in Classified Forest. Call Auction Company for details.TRACT 1: 13+/- acres including the 1,387+/- sq ft home and the 2,000+/- sq ft open-sided barn. The home is completely move-in ready with many updates. Imagine the possibilities! Address: 10248 E State Road 450, Shoals.
Tract 2: 7.8± ac mostly tillable with the 1,500± sq ft pole barn built in 2006. Access is via easement from Old State Road 450. Consider combining with Tract 1 for a 20-acre mini-farm. Access via easement.
Tract 3: 8.5± ac mostly wooded. Imagine the possibilities for a small hunting/camping site with access from Old State Road 450.
Tract 4: 48.9± ac all wooded tract with access via easement from Old State Road 450. This is a hunting and recreation dream, with established trails through the rolling terrain. This parcel is enrolled in Classified Forest. Access via easement.
Tract 5: 15± ac Tracts 5-9: This large 538+/- acre farm really has it all - large wooded tracts, a log cabin, large stocked pond, shop, a mile of creek frontage and beautiful views everywhere you look. An improved gravel drive runs from north to south connecting the property and its unique attributes. Approximately 460+/- acres are in Classified Forest. Call Auction Company for details.TRACT 5: 15+/- acres wooded with the 1,836+/- sq ft 3-bedroom log cabin built in 2011. The home features a large wrap around porch and full finished basement. A perfect year-round home or hunting retreat! Address: 9283 State Road 450, Shoals, IN.
Tract 6: 248± ac all wooded with several prime high building spots kept out of Classified Forest. Water, power and telephone/Internet have already been run up to the top of the hill! Imagine your get-away home or corporate retreat here!
Tract 7: 125± ac all wooded with access from Bill Fisher Road. Great hunting and recreation with lots of creek frontage.
Tract 8: 64± ac with 42+/- acres tillable per FSA and approximately 1/2 mile of creek frontage. The property includes a trap course and shooting range with access out to Bear Hill Road.
Tract 9: 87± ac including approximately 3 acres tillable per FSA, a 16+/- acre lake and 3,840+/- sq ft heated shop with office and 4 large overhead doors built in 2009. The lake is fully stocked with aerators and fishing/shooting platforms all around. There is a park-like setting near the shop that has been host to corporate retreats and gatherings. Address: 8826 Bear Hill Road, Shoals, IN. NOTE - This tract includes an 18 acre area along Sulfur Creek which includes restrictive covenants. Contact Auction Company for details.
Tract 10: 28.5± ac Tracts 10-15: This 107+/- acre farm includes 33+/- acres tillable. Sawmill, home and the balance in woods. A great country setting for with many opportunities. Frontage on Indian Springs and Possum Hollow Roads. A portion of the woods is in Classified Forest. Call Auction Company for details.TRACT 10: 28+/- acres including 10+/- acres tillable per FSA and the balance in woods. Frontage on Indian Springs Road. Woods is in Classified Forest.
Tract 11: 40.5± ac including the 8,320+/- sq ft sawmill, gated drive, 864+/- sq ft garage, tillable and woods. The perfect spot for your home-based business with hunting and recreation land to boot! Woods is in Classified Forest. Address: 18283 Indian Springs Road, Shoals, IN.
Tract 12: 5± ac potential building site with well and 3+/- acres tillable per FSA. Frontage on Indian Springs Road.
Tract 13: 23.5± ac mixture of woods and 14+/- acres tillable. Frontage on Indian Springs and Possum Hollow Roads.
Tract 14: 2.5± ac with 884+/- sq ft hillside home and a high, wooded setting. Great views. The home has been taken down to the studs and is ready for drywall and finish work. Imagine the possibilities. Address: 18114 Possum Hollow Road, Shoals, IN.
Tract 15: 11.8± ac secluded wooded property on quiet Possum Hollow Road. If you are looking for a southern Indiana hunting getaway, this is it!
Tract 16: 3.9± ac Tracts 17-21: 286+/- acres along the White River, including a mile of river frontage, a home, 123.2+/- acres tillable per FSA, fantastic potential building sites and wooded recreational land. This property has it all with access from Clarks Ferry Road!TRACT 16: 3.9+/- acres including a 1,792+/- sq ft, 3-bedroom home. The property would make a nice year-round residence or hunting retreat for land in the area. Address: 10312 Clarks Ferry Lane, Shoals, IN.
Tract 17: 2± ac with a mid-remodel 2,500+/- sq ft stone home and a large open faced machine shed. Finish this home the way you like and live in seclusion. Consider combining with Tract 18 to have a full mini-farm along the river. Address: 10047 Clarks Ferry Lane, Shoals, IN.
Tract 18: 24± ac with 16.4+/- acres tillable per FSA and nearly 1,300 ft. of White River Frontage. This property has a LOT of potential!
Tract 19: 116± ac including 74.2+/- acres tillable per FSA and nearly 3,500 ft. of frontage along the White River. Site of an old ferry crossing, the property contains fertile river bottomland.
Tract 20: 78± ac with an amazing setting including a gated, long improved gravel drive up to a high potential building site with electric and phone/Internet. You have to see the views of the river! In addition, there are 19+/- acres tillable per FSA and the balance in woods. Consider for a corporate or family retreat!
Tract 21: 66± ac SWING TRACT This tract must be combined with other tracts in the auction or bid on by an adjoining landowner. You’ll find great hunting, several duck ponds and 10+/- acres tillable per FSA. Consider combining with Tracts 19 and 20 for a one-of-a-kind river front estate.
SOIL INFORMATION
TRACTS 1-4 (Click to enlarge)
TRACTS 5-9 (Click to enlarge)
TRACTS 10-15 (Click to enlarge)
TRACTS 16-21 (Click to enlarge)
PROCEDURE: The property will be offered in 21 individual tracts, any combination of tracts (subject to swing tract limitations) and as a total 1013-acre 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.
BUYERS PREMIUM: The contract purchase price will include a Buyers Premium equal to 3% of the high bid amount.
DOWN PAYMENT: 10% down payment on the day of auction for individual tracts or combinations of tracts. 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: 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.
EVIDENCE OF TITLE: Seller shall provide an owners 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 will take place on or before July 13, 2018.
POSSESSION: possession shall be granted at closing on all tracts except tract with tillable farmland (tracts 1, 2, 3, 8, 9, 10, 11,12,13,18,19, 20 and 21) whereby possession shall be granted after the completion of fall crop harvest and tract 5 whereby possession shall be granted 30 days after closing.
REAL ESTATE TAXES: Real Estate taxes shall be prorated to the date of closing on an accrual basis
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 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.
ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.
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 Sellers option and sufficient for providing title insurance. Combination purchases will receive a perimeter survey only.
CASH RENT: Seller shall retain all cash rental income due in 2018. Seller shall credit the buyer at closing a dollar amount equal to the second installment of the 2018 cash rent on applicable tracts.
CLASSIFIED FOREST & WILDLANDS: The Classified Forest and Wildlands Program encourages timber production, watershed protection, and wildlife habitat management on private lands in Indiana. Program landowners receive a property tax reduction in return for following a professionally written management plan. Buyer(s) agree to assume property as is with property in the program. Any fees associated with removing property shall be solely at Buyers expense.
CONSERVATION EASEMENT: Tract 9 includes 18+/- acres along Sulfur Creek with restrictive covenants. Contact Auction Company for details.
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.
STOCK PHOTOGRAPHY: Deer photo is for illustrative purposes only and is not an actual image of wildlife on auction property.
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