• Investment Quality Soils - Mostly Fincastle Silt Loam and Cyclone Silty Clay Loam • All Contiguous Except for 40+/- Acres • Nearly All Tillable • Excellent Road Frontage • Tracts Ranging from 12.6 - 79+/- Acres • 4+/- Miles Southwest of Rushville • 2.5+/- Miles Northwest of Milroy
PREMIER LAND AUCTION - 277+/- ACRES OFFERED IN 6 TRACTS OR COMBINATIONS IN RUSH COUNTY, RUSHVILLE, IN
Rush County, Rushville, Indiana
Owner: Timothy H. Webb (Tracts 1 and 4), Timothy H. & Sheryl N. Webb (Tracts 2 and 3) & Thomas C. Webb (Tracts 5 and 6) Thu, Aug 18, 2022 EASTERNAUCTION IS OVER
TOTAL SOLD: $5,310,000
| Tract(s): 1-3 | @ $2,520,000 | ($19,384/acre) |
| Tract(s): 4-6 | @ $2,790,000 | ($18,902/acre) |
OPEN HOUSE/INSPECTION DATES
Tuesday, July 19 from 3-5pm Eastern
Tuesday, August 2 from 3-5pm Eastern
Meet a Schrader Representative at Tract 3 on CR 200 W.
PROPERTY LOCATION
On the south side of Rushville where SR 3 and US 52 split, go south on SR 3 approximately 5.6 miles to CR 600 S. Go west on CR 600 S for 1.25 miles to Tract 1 on the north side of the road. To Tract 2, go back east of Tract 1 on CR 600 S for .25 mile to 200 W. Go north on 200 W for .5 mile to Tract 2 on the east side of the road. Continue north on 200 W to view Tracts 3, 4 and 5. At 450 S go east to view the north side of Tract 5 and Tract 6.
AUCTION LOCATION
Root Building at the Rush County Fairgrounds, 1299 N Sexton St, Rushville, IN 46173
In Rushville from the junction of IN SR 44 and IN SR 3, take SR 3 (Main St) north 1 mile to W 16th St. Then left on W 16th St .25 mile to Sexton St. Left on Sexton to the fairgrounds.
TRACT DESCRIPTIONS
Tract 1: 40± ac Highly productive farmland and nearly all tillable. Frontage on CR 600 S.
Tract 2: 40± ac Highly productive farmland and all tillable except road. Frontage on CR 200 W.
Tract 3: 50± ac Highly productive farmland and nearly all tillable. There is a small former building site that is not farmed near the southwest corner. Frontage on CR 200 W.
Tract 4: 12.6± ac Highly productive farmland that is all tillable except road. Investigate for home site potential or combining with other adjoining tracts. Frontage on CR 200 W.
Tract 5: 56± ac Highly productive farmland and nearly all tillable. Excellent road frontage with CR 200 W on the west and CR 450 S on the north.
Tract 6: 79± ac Highly productive farmland and is all tillable except road. Frontage on CR 450 S.
TRACT MAP(S)
AREA MAP(S)
PROCEDURE: The property will be offered in 6 individual tracts, any combination of tracts and as a total 277+/- 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: 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 final bid prices are subject to the Sellers acceptance or rejection. All successful bidders will be required to sign Purchase Agreements at the auction site immediately following the close of the auction.
DEED: Seller shall provide a Warranty Deed sufficient to convey insurable title to the real estate. Real estate is sold subject to all rights of way, legal highways, leases, easements of public record, and all other matters of public record.
EVIDENCE OF TITLE: Seller shall provide a preliminary title insurance commitment for review prior to auction. Seller agrees to furnish Buyer(s), at Sellers expense, an updated title commitment prior to closing. The cost of providing an Owners Title Policy shall be paid for by Seller at closing.
CLOSING: The balance of the purchase price is due at closing. The targeted closing date will be approximately 30 days after the auction or as soon thereafter upon completion of surveys, if applicable, the final title commitment and Sellers closing documents. Costs for an administered closing shall be shared 50:50 between Buyer(s) and Seller. All lender costs shall be paid by the Buyer(s).
POSSESSION: Possession is at closing subject to tenant rights for the 2022 crop.
REAL ESTATE TAXES: Seller shall pay all 2022 real estate taxes due and payable in 2023. Buyer(s) shall assume any taxes thereafter. Buyer(s) shall assume any ditch and drainage assessments due after closing.
ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on county tax parcel data, county GIS and/or aerial mapping.
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 or where Seller otherwise determines a survey is appropriate. Any need for a new survey shall be determined solely by the Seller. Seller and successful bidder(s) 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. If Seller determines a survey is needed, combined purchases will receive a perimeter survey only. Final sales price shall be adjusted to reflect any difference between advertised and surveyed acres.
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.
EASEMENTS: Subject to any and all existing easements.
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 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.
