• Mixed Use Farm with Pasture, Cropland, and Woods • Abundant Wildlife with Buck Creek splitting the farm • 2- Story Country Home and Farmstead • 2024 Crop Rights to Buyer • Great Access with Frontage on (3) Roads • COME BID YOUR PRICE ON THIS UNIQUE PROPERTY
LAND AUCTION - 157+/- ACRES OFFERED IN 6 TRACTS IN HENRY COUNTY, INDIANA
Springport, IN - Henry County, IN
Owner: The Lowell W. & Nancy J. Bennett Joint Revocable Trust Wed, Nov 1, 2023 EASTERNAUCTION IS OVER
TOTAL SOLD: $1,050,000
| Tract(s): 1 | @ $175,000 | ($6,034/acre) |
| Tract(s): 2+6 | @ $460,000 | ($6,436/acre) |
| Tract(s): 3+4 | @ $350,000 | ($8,139/acre) |
| Tract(s): 5 | @ $65,000 | ($8,333/acre) |
OPEN HOUSE/INSPECTION DATES
Wed. Oct. 11th from 10am-11am
Wed. Oct. 18th from 10am-11am
Wed. Oct. 25thfrom 10am-11am
PROPERTY LOCATION
9007 N CR 250 E, Springport, IN 47386 Between New Castle & Muncie.
AUCTION LOCATION
W.G. Smith Auditorium, Henry Co. Memorial Park, 2221 N. Memorial Drive, New Castle, IN 47386
TRACT DESCRIPTIONS
Tract 1: 30± ac with a 2-story farmhouse, fenced pasture and wooded acreage. This has a nice farmstead feel, back a long lane. Come examine the country setting. Properties like this are hard to find! Includes small outbuildings and an 8,000 bu. grain bin.
Tract 2: 53± ac with 46+/- FSA cropland Acres. Frontage along CR 250 E. Add this to your operation or consider combining this with Tract 1 or Tract 3.
Tract 3: 21± ac bordering Buck Creek. This is a mixed-use tract with road frontage on E 875 N and N 250 E. Whether it be for recreation, hunting or wetland preservation / creation examine what this tract has to offer. Currently 8+/- acres are in crop production.
Tract 4: 23± ac with 19+/- FSA tillable acres. Excellent Millgrove Loam soils farmed in (2) fields. Frontage along East CR 875 N.
Tract 5: 8± ac with 4+/- acres of tillable land with the balance in woods and meadows. Buck Creek frontage creates a great wildlife habitat. Potential building site with frontage on N 175 E.
Tract 6: 22± ac premiere hunting and recreational tract. Mature woods with some marketable timber. Features open meadows, small patches of tillable land for your food plots, and unique elevation changes. Frontage on N 175 E. Potential secluded building site with established entrance lane.
TRACT MAP(S)
SOIL INFORMATION
AREA MAP(S)
PROCEDURE: The property will be offered in 6 individual tracts, any combination of tracts and as a total 157+/- 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 cashier's 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 Seller's 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 Seller's expense, an updated title commitment prior to closing. The cost of providing an Owner's 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 Seller's 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.
REAL ESTATE TAXES: Seller shall pay all 2023 real estate taxes due and payable in 2024. 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 Seller's 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 Bidder's 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 person's 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.
