• 50 miles North of Indianapolis • 16 miles North of Tipton Bordering Kokomo City limits • 135 +/- Tillable Acres • 93% Tillable Farm • Available for 2013 Planting Season • Potential Development • Excellent Frontage on SR 22
145.43 +/- Acres Offered in 2 Tracts - Kokomo, IN Land Auction
Kokomo, IN - Howard County
Owner: Joseph & Lena Neal Thu, Apr 11, 2013 EASTERNAUCTION IS OVER
TOTAL SOLD: $1,326,000
| Tract(s): 1+2 | @ $1,326,000 | ($9,117/acre) |
OPEN HOUSE/INSPECTION DATES
Thursday, April 4, from 3 p.m. to 5 p.m.
Meet a Schrader representative at the farm on the southern boundary of Tract 1. Walk over inspections are also welcome at any time.
PROPERTY LOCATION
West side of Kokomo Indiana on State Road 22, at city limit. Located on the north & south side of Jefferson Street at 300W & 100N. Signs are present on the farm at the intersection of Malfalfa Rd. & Sycamore St.
AUCTION LOCATION
Celebrations Banquet Facility, 3437 West Sycamore St., Kokomo IN. 46901.
TRACT DESCRIPTIONS
Tract 1: 130.9± ac 123.54 tillable acres with 1300 ft. of road frontage on 300W & 1000 ft. of frontage on 100N. Predominant soils; Brookston & Fincastle soils.
Tract 2: 14.5± ac 11.78 tillable acres with 700 ft. of frontage on 300W & 380 ft. of frontage along State Road 22. Predominant soils; Brookston, Miami & Fincastle soils.
AREA MAP
TRACT MAP(S)
SOIL INFORMATION
AREA MAP(S)
PROCEDURE: This property will be offered in 2 individual tracts, combination of tracts, or as a total 145.43 +/- acre unit. The property will be sold in the manner resulting in the highest total sale price.
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.
DOWN PAYMENT: 10% down payment on the day of auction with the balance in cash at closing. The down payment may be made in the form of cashiers check, personal check, or corporate check. Immediate possession is available to the winning bidder(s) with 20% down payment on the day of the auction. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.
BUYERS PREMIUM: A 2% Buyers Premium will be added to the high bid(s) to determine the Contract Purchase Price.
CLOSING: The balance of the purchase price is due at closing, which shall take place within 10 days from delivery of marketable title. Closing on or about May 10, 2013 is anticipated. Closing costs for an administered closing shall be shared 50:50 between Buyer(s) and Sellers.
EVIDENCE OF TITLE: Seller shall provide an owners title insurance policy in the amount of the contract purchase price.
POSSESSION: Possession shall be given at closing. Immediate possession is available to the winning bidder(s) with 20% down payment on the day of the auction.
REAL ESTATE TAXES: Taxes will be prorated to date of closing. Buyer shall assume any Ditch Assessments due in 2013 and thereafter.
ACREAGE: All tract acreages, dimensions and proposed boundaries are approximate and have been estimated based on aerial photos and the current legal description.
FSA INFORMATION: The Clinton County FSA Office shall make all acreage and base yield determinations.
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, if any.
SURVEY: Current legal descriptions shall be used to convey the property. Any need for a new survey will be determined solely by the Sellers. The type of survey performed shall be at the Sellers option 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. The adjustments will be made only on tracts or combination of tracts that do not contain improvements.
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 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 Sellers or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conduction 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 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 to the persons credentials, fitness, etc. All decisions of the Auctioneer are final. ANNOUNCEMENTS MADE BY THE AUCTION COMPANY AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL, OR ANY OTHER ORAL STATEMENTS MADE.
