• Make a Great Investment in Farmland! • 163+/- Acres Tillable • 7+/- Acres Pasture • 4 Bedroom Home & Barns • Productive Tillable Land • Tracts from 9+/- Acres to 71+/- Acres
178+/- Acres Offered in 5 Tracts
Twelve Mile, IN - Northeast of Logansport & South of Rochester
Owner: Estate of James H. Minthorn and the Minthorn Family Wed, Oct 12, 2011 EASTERNAUCTION IS OVER
OPEN HOUSE/INSPECTION DATES
Thurs., September 29th, 4-6PM
Tues., October 4th, 4-6PM
Meet a Schrader representative at the home on Tract 2.
PROPERTY LOCATION
From the intersection of SR 16 and CR 700 E, just 1 mile west of Twelve Mile, travel north on CR 700 E 1 mile to the southeast corner of the property.
AUCTION LOCATION
At the Caston School Cafeteria. From the intersection of SR 114 and SR 25 at Fulton (northwest of the property), travel south on SR 25 2-3/4 miles to CR 1000 S. Turn east on CR 1000 S and take first left (at the administration building) into the south parking lot of the school. Follow the drive up to the south entrance.
PROPERTY DESCRIPTION
Rare Opportunity to Buy at Auction!
Great opportunity to buy productive tillable land. In the Schrader Method of Auction, you can bid on any tract, combination of tracts or the whole property in the manner that fits your needs. Just seconds from SR 16 and SR 25 - just a short drive to Twelve Mile, Logansport or Rochester.
TRACT DESCRIPTIONS
Tract 1: 14± ac All tillable land. Road frontage on both CR 800N and CR 700E. Mostly Metea and Rensselaer soils.
Tract 2: 9± ac Including the 4-bedroom home, dirt floor pole building, barn, grain storage, and approximately 7 acres of pasture. Address: 8333 N 700 E.
Tract 3: 71± ac Mostly tillable land. Mostly Riddles and Rensselaer soils. Frontage on CR 700E.
Tract 4: 71± ac All tillable land. Mostly Riddles, Gilford and Rensselaer soils. Frontage on CR 700 E.
Tract 5: 13± ac All tillable land split by abandoned railroad right-of-way. South 10+/- acre field accessed by easement as shown. Mostly Wawasee and Rensselaer soils. Frontage on CR 900N.
AREA MAP
TRACT MAP(S)
SOIL INFORMATION
PLAT MAP(S)
AREA MAP(S)
PROCEDURE: The property will be offered in 5 individual tracts, combinations of tracts and as a total 178-acre unit. There will be open bidding on tracts, combinations and the total during the auction as determined by the Auctioneer. Bids on individual tracts, tract combinations and the total property may compete.
DOWN PAYMENT: 10% down payment on the day of the 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: 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 purchase price is due at closing, which will take place within 15 days of presentation of insurable title. Costs for an administered closing shall be shared 50:50 between Buyer(s) and Seller.
POSSESSION: Possession will be at closing, subject to Farm Tenants rights to harvest growing crop.
REAL ESTATE TAXES: Real estate taxes will be the responsibility of the Buyer(s) beginning with taxes due in May 2013 and thereafter.
PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquires 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. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres, if a new survey is determined to be necessary by the Sellers.
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.
None at this time
