• 2 Farms Ranging from 110 to 441 Acres • 7 Total Tracts • 490+/- Acres Tillable Land • Close Proximity to Ethanol Plants • Investment Quality Tillable Tracts • A High Percentage of Tillable Acres During a Period of Strong Commodity Prices Providing Excellent Income Potential!
Important Indiana Land Auction - 551 Acres - 2 Farms in 7 Total Tracts
Northern Randolph County, Indiana
Owner: Midwest Farms LLC Thu, Jun 30, 2011 EASTERNAUCTION IS OVER
TOTAL SOLD: $2,677,500
| Tract(s): 1-7 | @ $2,677,500 | ($4,859/acre) |
OPEN HOUSE/INSPECTION DATES
Thursday JUNE 9TH 4-6 PM
Thursday JUNE 16TH 4-6 PM
Meet a Schrader Representative at the RIDGEVILLE FIRE DEPT. located at
308 N. Walnut St. Ridgeville, IN.
From the flashing traffic light on SR 28 in the center of Ridgeville, travel north on Walnut St. (2) blocks to the Fire Station.
PROPERTY LOCATION
TRACTS 1-5: This 441.516 acre farm is located at the corner of IN SR 28 and IN SR 1 which is 3 miles east of Albany, IN and 5 miles west of Ridgeville, IN. There are 388.56 tillable acres, 13.7 CRP acres (improved waterways) and the balance in mature woods. The farm is mainly comprised of Pewamo, Morley, and Glynwood soils.
TRACTS 6 & 7: This 110.036 acre farm is located at the corner of CR 500W and CR 400N. From Winchester travel west on SR 32 go 5 miles to CR 500W, then north (right) 3.5 miles to the farm. OR from Farmland, IN travel north 2 miles on SR 1 then east (right) on CR 400N 4 miles to the farm. FSA shows 101.8 acres tillable. The farm is gently rolling and has a mixed hardwood woodland along the north end of the farm. This farm consists mainly of Pewamo, Morley, and Glynwood soils.
AUCTION LOCATION
RANDOLPH COUNTY FAIRGROUNDS. Located in Husted Hall. 1885 South US 27, WINCHESTER, IN 47394. The fairgrounds is located 2 miles south of the SR 32 and US 27 interchange in Winchester, IN on the eastside of US 27.
TRACT DESCRIPTIONS
Tract 1: 38± ac Excellent frontage on SR 1. This tract is mainly all tillable.
Tract 2: 82± ac Excellent tract of tillable land with frontage on SR 28 and SR1. Approx. 6 acres of woods, 2.9 Acres CRP waterways and 73.4 crop acres.
Tract 3: 145± ac Frontage on SR 28. FSA showing 101± acres of cropland with the balance in mixed hardwood woodland.
Tract 4: 78± ac All tillable. Frontage on SR 28. ½ acre of CRP waterway with the balance in cropland. Great investment tract.
Tract 5: 98± ac Frontage on SR 28 and CR 750W. Mostly all tillable with 5.4 acres of CRP waterways and the balance in tillable land. Combine tracts 3-5 for 268 tillable acres currently farmed as (1) field.
Tract 6: 38± ac This is an exceptional investment tract that is all tillable. Level field with frontage on 500W and 400N.
Tract 7: 72± ac Frontage on 400N with 65 tillable acres. A 5.5 acre mature woods lies on the north edge of the tract.
AREA MAP
TRACT MAP(S)
PLAT MAP(S)
AREA MAP(S)
BUYERS PREMIUM: A Buyers Premium of 2% will be charged to the Buyer. The Buyers Premium shall be added to the high bids to obtain the Total Contract Purchase Price. PROCEDURES: The property will be offered in 7 individual tracts, any combination of tracts, or as a total 551+/- acre unit. There will be open bidding on all tracts and combinations during the auction. Bids on tracts, tract combinations and the total property may compete.
DOWN PAYMENT: 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 Sellers acceptance or rejection.
EVIDENCE OF TITLE: Seller shall provide a preliminary title insurance commitment to review prior to auction. Seller agrees to furnish Buyer(s), at Sellers expense, an updated Owners Policy of Title Insurance prior to Closing.
DEED: Seller shall provide a Warranty Deed, subject to exceptions, if any, noted on the owners policy of title insurance.
CLOSING: There will be (2) options for closing the purchase. OPTION # 1: Mid Year Close. 10% down payment the day of auction. Balance due 15 days after presentation of marketable title estimated at 30-45 days after auction, with closing to occur upon presentation of marketable title. Owner to retain possession until November 1, 2011 (following harvest of current year crop). Seller shall retain all lease payments under the current farm lease; provided that at closing Buyer shall receive a credit at closing of $125.00 per tillable acre. OPTION # 2: Year End Close. 10% down payment the day of auction. Additional 10% down payment 30 days after day of sale. (equaling 20% total) will be due from the buyer on July 30th, 2011. Closing and possession to occur on November 1, 2011 (possession following harvest of current year crop). Seller shall retain all lease payments under the current farm lease. POSSESSION: Possession will be on November 1, 2011 (possession following harvest of current year crop).
REAL ESTATE TAXES: Seller to pay real estate taxes for 2010 due 2011 and estimated spring installment of 2011 taxes due May 2012, Buyer to pay all taxes thereafter.
ACREAGE: All boundaries are approximate and have been estimated based on current legal descriptions. SURVEY: A new perimeter survey will be provided 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. Closing prices will be adjusted to reflect any differences between advertised and surveyed acres. FSA INFORMATION: See Agent.
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.
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 set forth in the Purchase Agreement. The property is being sold on 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. 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 Sellers or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Sellers and Selling Agents reserve the right to preclude any person from bidding if there is any question as the persons credentials, fitness, etc. All decisions of the Auctioneer are final.
ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MARKETING MATERIAL OR ANY OTHER ORAL STATEMENTS MADE BY AUCTION COMPANY OR SELLER.
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