• Productive Farmland • Nearly All Tillable - 159.76 Cropland Acres per FSA • One Large Field • Lots of Road Frontage • Investigate For Potential Home Site
LAND AUCTION - 160.6+/- ACRES OFFERED IN 3 TRACTS IN NEWTON COUNTY, INDIANA
3 1/2+/- Miles Northwest of Brook, IN & 4+/- Miles Southeast of Morocco, IN - Newton County, IN
Owner: Schuette Farm, Limited Liability Company Tue, Jan 9, 2024 CENTRALAUCTION IS OVER
TOTAL SOLD: $1,740,000
| Tract(s): 1-3 | @ $1,740,000 | ($10,834/acre) |
OPEN HOUSE/INSPECTION DATES
Thursday, December 14th from 2-4PM (CST)
Thursday, December 28th from 2-4PM (CST)
Meet a Schrader Rep at Tract 3 on 100 W
PROPERTY LOCATION
From Brook, go west out of town on State Road 16 approximately 1/2 mile to CR 50 E. Go north on 50 E 2 miles to CR 700 S. Go west on 700 S approximately 1 mile to Tract 2 on the north side of the road. Tract 1 is approximately 1/4 mile north of Tract 2 on CR 50 W and Tract 3 is on the west side of Tract 2 on 700 S.
From east of Morocco at the junction of U.S. 41 and SR 114, go south on U.S. 41 approximately 2 miles to CR 600 S. Go east on 600 S 1.2 miles to CR 100 W. Go south on 100 W approximately 0.6 mile to Tract 1 on the east side of the road. Continue south on 100 W to Tract 3. Go east on CR 700 S to view
the south side of Tract 3 and Tract 2 is on the east side of Tract 3.
AUCTION LOCATION
Beaver Township Community Center
409 South Polk St., Morocco, IN 47963
From east of Morocco at the junction of U.S. 41 and SR 114, go west on Michigan (CR 400 S) approximately 3/4 mile to Polk St. Turn north on Polk St. and travel 1/8 mile to auction site on your right. The Beaver Township Community Center adjoins the Fire Station.
PROPERTY DESCRIPTION
REAL ESTATE TAXES: 2022 payable 2023 (3 Tax ID #s) $4,080.72
DRAINAGE ASSESSMENTS: $2,292.08
FSA INFORMATION
Cropland 159.76 acres
Crop - Base - PLC Yield:
Corn - 143.2 ac. - 150 bu.
Wheat - 14 ac. - 46 bu
TRACT DESCRIPTIONS
Tract 1: 80± ac Productive soils and nearly all tillable. This tract has excellent road frontage with CR 100 W on the west side of the property and CR 50 W on the east side of the property.
Tract 2: 40.3± ac Productive soils and nearly all tillable. This tract has road frontage on CR 700 S and CR 50 W.
Tract 3: 40.3± ac Productive soils and nearly all tillable. Investigate this parcel for a possible building site. This tract has road frontage on CR 700 S and CR 100 W.
TRACT MAP(S)
Tracts 1-3
AREA MAP(S)
PROCEDURE: The property will be offered in 3 individual tracts, any combination of tracts and as a total 160.6 +/- 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 will be delivered at closing.
REAL ESTATE TAXES: Seller shall pay 2023 real estate taxes due and payable in 2024. Buyer shall assume any taxes thereafter. Buyer shall assume any ditch and drainage assessments due in 2024 and thereafter.
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 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 & 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.
