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LAND AUCTION
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348+/- Acres offered in 9 Tracts
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Farm 1-163+/- Acres
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Productive Farmland, Eaton, Indiana
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Farm 2-185+/- Acres
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Tillable Acreage, Wooded Land, Selma, Indiana
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Online Bidding Available
LAND AUCTION, 348+/- Acres offered in 9 Tracts, Farm 1-163+/- Acres, Farm 2-185+/- Acres
Farm 1-Eaton, Indiana & Farm 2-Selma, Indiana, Delaware, County, East Central, Indiana
Owner: John Meredith Trust Thu, Oct 30, 2014 EASTERNAUCTION IS OVER
TOTAL SOLD: $1,570,000
| Tract(s): 1-6 | @ $1,415,000 | ($5,359/acre) |
| Tract(s): 7-9 | @ $155,000 | ($1,845/acre) |
OPEN HOUSE/INSPECTION DATES
Sat., October 18 from 12 noon - 2 pm
Meet a Schrader representative on Wapahani Dr., Tract 9
PROPERTY LOCATION
Farm 1 - Tracts 1-5: From the intersection of SR 28 & SR 3 on the north side of Muncie, travel north on SR 3 for 6 miles to CR 1200N, turn left (west) and travel 2 miles to CR 100W, turn north (right) to farm.
Farm 2 - Tracts 6-8: From the intersection of the Muncie Bypass & SR 32 on the east side of Muncie, travel east on SR 32 for approximately 2 miles to CR 475E (Whitney Rd.), turn south (right) and travel about 1/2 mile to the farm on the left. Tract 7 access via E. Sheffield to Edwards Rd.; Tract 8 access via E. Devonshire Rd.
Farm 2 - Tract 9: From the intersection of the Muncie Bypass & SR 32 on the east side of Muncie, travel east on SR 32 for approximately 2-3/4 miles to CR 550E, turn right (south) for 1/2 mile to either Liberty Dr. or Wapahani Dr., turn right (west) through addition to property.
AUCTION LOCATION
Delaware County Fairgrounds - Heartland Hall, 1210 N. Wheeling Avenue, Muncie, IN. (Between downtown Muncie and McGalliard Rd. along Wheeling Ave.)
TRACT DESCRIPTIONS
Tract 1:
80± ac
All tillable with approximately 1/4 mile frontage on CR 100W. Nice productive tract with mostly Blount & Pewamo soils.
Tract 2:
30± ac
All tillable with approx. 650 ft. frontage on CR 100W. Mostly Blount & Pewamo soils. A good quality parcel, consider combining with Tract 3.
Tract 3:
24± ac
Mostly tillable productive tract with frontage on both CR 1200N & CR 100W. Good access and perfect to combine with Tract 2. Blount, Glynwood & Pewamo soils.
Tract 4:
15± ac
All tillable tract with about 465 ft. of frontage on CR 1200N. Combine with Tract 1. Blount, Glynwood & Pewamo soils. Zoned mostly Residential.
Tract 5:
14± ac
All tillable with about 455 ft. of frontage on CR 1200N. Combine with Tract 1. Blount, Glynwood & Pewamo soils. Zoned mostly Residential.
Tract 6:
101± ac
Mostly tillable with about 2040 ft. of frontage on Whitney Rd. Mostly Blount, Glynwood & Pewamo soils with 85.2 acres tillable per FSA and 5.6 acres in CRP filter strips. Good drainage outlet into Hog Creek. Partially zoned Residential. Includes two wooded border lots in Hyde Park Addition.
Note: Municipal water and sewage available to Tracts 6-9. The majority of Tract 1 and all of Tracts 8 & 9 are within Selma Corporate Limits.
Tract 7:
10± ac
All wooded recreation tract. Access via Edwards Rd. in Hyde Park Addition. Perfect to combine with Tract 8. Zoned Residential.
Tract 8:
28± ac
All wooded recreation parcel with 25 ft. of access via E. Devonshire Rd. Consider combining with Tract 7 for a larger holding. Zoned Residential.
Tract 9:
46± ac
Mostly wooded with access off of Liberty Dr. or Wapahani Dr. in Liberty Village Addition along CR 550E. Platted with 119 undeveloped lots for Liberty Village Addition. Great recreation parcel or development potential.
ONLINE BIDDING AVAILABLE: You may bid online during the auction at www.schraderauction.com. You must be registered One Week in Advance of the Auction to bid online. For online bidding information, call Kevin Jordan at Schrader Auction Co. - 800-451-2709.
AREA MAP
TRACT MAP(S)
Farm 1-Eaton-Union Township
Farm 2-Selma-Liberty Township
SOIL INFORMATION
Farm 1-Eaton-Union Township
Farm 2-Selma-Liberty Township
PLAT MAP(S)
Farm 1-Eaton-Union Township
Farm 2-Selma-Liberty Township
AREA MAP(S)
PROCEDURES: The property will be offered in 9 individual tracts, any combination of tracts, or as a total 348+/- 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.
DOWN PAYMENT: Real Estate 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: Sellers shall provide an owners title insurance policy in the amount of the purchase price.
DEED: Sellers shall provide Warranty Deed.
CLOSING: The balance of the real estate purchase price is due at closing, which will take place within 15 days of presentation of title policy est. by December 1, 2014.
POSSESSION: At closing subject to removal of 2014 crop. 2015 crop rights and all timber rights to be conveyed.
REAL ESTATE TAXES: Seller shall pay via credit real estate taxes assessed 2014 due 2015. Buyer shall assume all taxes due May 2016 and thereafter. Farm 1: 2013/14 $4730 or approx. $29/acre. Farm 2: 2013/14 $3576 or approx. $26/acre. Contact Auction Manager for pre-auction per tract estimates.
ACREAGE: All boundaries are approximate and have been estimated based on current legal descriptions.
SURVEY: A new survey will be made 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. Combination purchases will receive a perimeter survey only. Closing prices will be adjusted to reflect any differences between advertised and surveyed acreages.
FSA INFORMATION: *Farm 1: Corn base 82.6 acres, soy base 74.9 acres, wheat base 9.1 acres. *Includes small amount of adjoining landowner acreage. Farm 2: Corn base 46.0 acres, soy base 43.6 acres, CRP 5.6 acres.
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 outlined 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 decision of the Auctioneer is final.
ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. AUCTION COMPANY OR OWNER NOT RESPONSIBLE FOR ACCIDENTS.
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