Specifics - Auction TermsMETHOD OF SALE: Halderman Real Estate Services, Inc. (HRES, IN Auct. Lic. #AC69200019) will offer this property ABSOLUTE at public auction on February 2, 2017, at 6:30 PM, 320.975 acres, more or less, will be sold at Wabash County REMC, 350 Wedcor Avenue, Wabash, IN 46992. This property will be offered in five (5) tracts as individual units, in combination or as a whole farm. Each bid shall constitute an offer to purchase and the final bid shall constitute a binding contract between the Buyer(s) and the Sellers. The auctioneer will settle any disputes as to bids and his decision will be final. To place a confidential phone, mail or wire bid, please contact Bill Earle at 260-982-8351 or Jon Rosen at 260-740-1846 at least two days prior to the sale.
ACREAGE: The acreages listed in this brochure are estimates taken from the county assessor’s records, FSA records and/or aerial photos.
SURVEY: The Sellers reserve the right to determine the need for and type of survey provided. If an existing legal description is adequate for title insurance for a tract or tracts, no new survey will be completed. If the existing legal description is not sufficient to obtain title insurance, or if this property sells in multiple tracts requiring new legal descriptions, a survey will be completed, the cost of which will be shared 50/50 by the Sellers and the Buyer(s). The Sellers will choose the type of survey to be completed and warrant that it will be sufficient to provide an owner’s title insurance policy for the tract(s). If a survey is completed, the purchase price for the surveyed tract(s) will be adjusted, up or down, to the exact surveyed acres. The price per acre will be the auction bid price for the tract, divided by the tract acreage estimated in the auction brochure. Combination purchases will receive a perimeter survey only.
DOWN PAYMENT: 10% of the accepted bid down on the day of the auction with the balance due at closing. The down payment must be in the form of personal check, cashier’s check, cash or corporate check. YOUR BIDDING IS NOT CONTINGENT UPON FINANCING. BE SURE YOU HAVE FINANCING ARRANGED, IF NECESSARY, AND ARE CAPABLE OF PAYING CASH AT CLOSING.
APPROVAL OF BIDS: All successful bidders must enter into a purchase agreement the day of the auction, immediately following the conclusion of the bidding. Successful bidders must execute purchase agreements exactly as they have bid. Combo bids will not be split into separate purchase agreements.
DEED: The Sellers will provide a Trustee’s Deed at closing.
EVIDENCE OF TITLE: The Sellers will provide an Owner’s Title Insurance Policy to the Buyer(s). Each Buyer is responsible for a Lender’s Policy, if needed. If the title is not marketable, then the purchase agreement(s) are null and void prior to the closing, and the Broker will return the Buyer’s earnest money.
CONSERVATION RESERVE PROGRAM: CRP payments will be prorated to the day of deed recording by Wabash County FSA, using the fiscal year of October 1 to September 30. The Buyer(s) will receive all responsibility for the maintenance of the CRP land in the future. If the Buyer(s) remove any acres from the CRP contract, that Buyer is solely responsible for repayment of all received payments, interest and penalties. TRACT 2: Annual Payment $ 240.00 Contract Number 10120 Expires 9/30/23 TRACT 3: Annual Payment $ 396.00 Contract Number 11177 Expires 9/30/25 TRACT 4: Annual Payment $3,293.00 Contract Number 11009 Expires 9/30/24 TRACT 5: Annual Payment $1,568.00 Contract Number 11177 Expires 9/30/25 FINAL ANNUAL CRP PAYMENTS MAY VARY IF THE FARM SELLS IN VARIOUS TRACTS
CLASSIFIED FOREST: 23.18 wooded on Tract 2 and 10.03 wooded on Tract 4
CLOSING: The closing shall be on or before March 10, 2017 or 15 days after completion of any survey. The Sellers have the choice to extend this date if necessary.
POSSESSION: Possession of the land will be at closing, subject to the tenant’s rights of Bill Winger thru 2017.
FARM INCOME: Buyer will receive the 2017 farm income, prorated per tillable acres if it sells in tracts.
REAL ESTATE TAXES: Real estate taxes were 5,346.28. The Seller will pay the 2016 taxes due and payable in 2017. Buyer will be given a credit at closing for the 2016 real estate taxes due 2017 and will pay all taxes beginning with the spring 2017 installment and all taxes thereafter.
DITCH ASSESSMENTS: Ditch Assessments was 285.76 for 2016. Buyer(s) will pay the 2017 Assessments.
MINERAL RIGHTS: All mineral rights owned by the Sellers will be conveyed to the Buyer(s).
PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigation, inquiries and due diligence concerning the property. Further, Sellers disclaims any and all responsibility for bidder’s safety during any physical inspections of the property. No party shall be deemed to be invited to the property by HRES or the Sellers.
AGENCY: Halderman Real Estate Services, Russell D. Harmeyer, Auctioneer, and their representatives, are exclusive agents of the Sellers.
DISCLAIMER: All information contained in this brochure and all related materials are subject to the Terms and Conditions outlined in the purchase agreement. This information is subject to verification by all parties relying upon it. No liability for its accuracy, errors or omissions is assumed by the Sellers or HRES. All sketches and dimensions in this brochure are approximate. ANNOUNCEMENTS MADE BY HRES AND/OR THEIR AUCTIONEER AT THE AUCTION DURING THE TIME OF THE SALE TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIALS OR ANY OTHER ORAL STATEMENTS MADE. The property is being sold on an â€śAS IS, WHERE ISâ€ť basis, and no warranty or representation, either express or implied, concerning the property is made by the Sellers or HRES. Each prospective bidder is responsible for conducting his/her independent inspections, investigations, inquiries and due diligence concerning the property. Except for any express warranties set forth in the sale documents, Buyer(s) accepts the property â€śAS IS,â€ť and Buyer(s) assumes all risks thereof and acknowledges that in consideration of the other provisions contained in the sale documents, Sellers and HRES make no warranty or representation, express or implied or arising by operation of law, including any warranty for merchantability or fitness for a particular purpose of the property, or any part thereof, and in no event shall the Sellers or HRES be liable for any consequential damages. Conduction of the auction and increments of bidding are at the direction and discretion of HRES and/or the auctioneer. The Sellers and HRES 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 HRES and/or the auctioneer are final.
Wabash County REMC : 350 Wedcor Ave, Wabash IN 46992