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REAL ESTATE & PERSONAL PROPERTY AUCTION - 39+/- ACRES OFFERED IN 3 TRACTS IN NOBLE COUNTY, INDIANA
Real Estate Sat, Apr 20, 10:00 AM
Personal Property at 10:30 AM
2774 N. 1000 W., Cromwell, IN 46732 - Noble County, Indiana

Owner: Johnny Johnston

SOLD FOR $350,000

• 39+/- Acres offered in 3 Tracts • Tillable Land • 2 Homes • Recreational Land

OPEN HOUSE/INSPECTION DATES
Real Estate Inspections:
Sunday, March 24 from 1-2:30PM
Wednesday, March 27 from 4-6PM

PROPERTY LOCATION
2774 N 1000 W, Cromwell, IN 46732. From the intersection of SR 5 and CR 1000W at the south edge of Cromwell, IN take CR 1000W south 1/2 mile to the property.

AUCTION LOCATION
Held On Site

TRACT DESCRIPTIONS
Tract 1: 35± ac of gently rolling tillable and recreational land with frontage on CR 1000W. Approx. 25+/- acres of tillable land w/Miami and Brookston soils. 10+/- acres of wooded recreational land create hunting possibilities. There is also a 40 ft.x25 ft. barn on this parcel. Farming rights for 2019.
Tract 2: 3.8± ac homestead with frontage on CR 1000W. The home has 3 bedrooms, 2.5 baths, and geothermal heat and AC for year around comfort. The home was completely remodeled in 2005. New wiring, plumbing, drywall, flooring and furnace create a cozy country home.
Tract 3: 0.8± ac with a 1400 sq. ft. home and frontage on CR 1000W. The home has 3 bedrooms, 2 baths, and kitchen has been remodeled. There is also a 30 ft.x10 ft. covered porch attached to the home.


SOIL INFORMATION

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PROCEDURE: The property will be offered in 3 individual tracts, any combination of tracts and as a total 39+/- acre unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. The auction will be offered in individual tracts, combinations of tracts, and as a whole.

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 successful bidders will be required to enter into Purchase Agreements 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: Seller shall provide an owners title insurance policy in the amount of the purchase price.

DEED: Seller shall provide Warranty Deed(s).

DEED RESTRICTIONS: The following deed restrictions shall apply if the property sells in multiple tracts: All homes must be built to the Indiana 1 & 2 Family Dwelling Code. (This would exclude all mobile homes and typical doublewide modular homes.) The minimum square footage (exclusive of garages, basements and porches) on single story homes shall be 1,400 square feet. The minimum square footage on 1-1/2 story homes shall be 1,600 square feet. The minimum square footage on 2 story homes shall be 1,800 square feet. All homes must have no less than a 5/12 roof pitch and no less than a two-car, attached garage.

PERIMETER DRAIN TILE EASEMENT: Easement access will be provided over tracts in this property for perimeter drain tile outlets if perimeter drain tile outlets beyond each individual tract are required by the Noble County Health Department.

CLOSING: The targeted closing date will be approximately 30 days after the auction.

POSSESSION: Possession is at closing or for immediate possession of the land for farming purposes with an additional 10% down the day of auction.

REAL ESTATE TAXES: Real estate taxes will be pro-rated to day of closing. 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.

ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.

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. 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 Sellers option and sufficient for providing title insurance. Combination purchases will receive a perimeter survey only.

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 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.

TERMS OF PERSONAL PROPERTY: Cash or Check with proper ID, Credit Card w/4% convenience fee. Not responsible for accidents.