SOLD     $78,440     THANK YOU!          SOLD     $78,440     THANK YOU!          SOLD     $78,440     THANK YOU!

ESTATE REAL ESTATE AUCTION

Joanne Pell, Helen Frances Pell, Nancy Kay Bowman, and Curtis A. Gilbrech will offer for sale, at Auction, 8.38 acres in one tract or .75 and 7.63 acres in 2 tracts, in Posey Township, Clay County, Staunton, Indiana.  From I-70 and SR 59, go North on SR 59 to County Road  700 North, turn West and follow road to County Road  375 West to County Road  675 North.  The property is on the East edge of Staunton. WATCH FOR JOHNNY’S SIGNS

Wednesday, July 25, 2007    3:00 PM (Sharp!)

STAUNTON, INDIANA

OWNERS:  Joanne Pell, Helen Frances Pell,

Nancy Bowman & Curt Gilbrech

NOTE:  This property may be bought prior to auction by contacting Johnny Swalls with an offer and the Seller will act on the offer.  The deadline for making this offer is Tuesday, July 24th , at 12:00 Noon.  First Accepted Offer Buys!

Home          Auction Schedule

REAL ESTATE:  Tract 1:  Tract one is 7.63 acres with a home, barn and tillable land. The home has an open front porch and sidewalk leading from the asphalt driveway, 3 bedrooms, 1 bath, living room, dining room, kitchen and 2 car insulated attached garage with overhead door opener The home has 100 ampere electrical breaker service, electric water heater, LP gas forced air furnace and central air. The kitchen has oak cabinets, gas range, dishwasher, stainless sink and nice countertops. The home is carpeted throughout, lots of storage areas and cedar lined closets. The exterior walls of the home have been insulated.  The barn  has two overhead doors, hayloft and would be great for horses. There are plenty of shade trees to relax under, satellite dish, an outside dusk to dawn light and a flag pole. The topography is level. The tillable land is currently planted and one third of the 2007 crop monies (Seller’s Share) will transfer to the Buyer.

Tract 2:  Tract two is a corner property, has city water and sewer and consists of .75 acre.

PARCEL NUMBERS:  Original parcel if sold in one tract-0080055600 

LEGAL:  PTW 1/2 NW NW Section 15, Township 12, Range 7, 8.38 AC

REAL ESTATE TAXES:  The real estate taxes are approximately $631 per year for both tracts and will be pro-rated at closing. 

TERMS OF REAL ESTATE:  The Successful Bidder will deposit 10% of the contract purchase price (except for exempt entities) at the auction in the form of cash, cashier’s check or approved personal check or company check with bank letter of guarantee (no bank drafts).  The Buyer will sign a non-contingent real estate contract with the balance due in 45 days or thereafter within 5 days of presentation of insurable title.  The Real Estate will be sold “AS-IS” with no warranty, expressed or implied, but will be free and clear of any liens or encumbrances.  An ALTA 92 Title Insurance Commitment in the amount of the contract price will be supplied to the Buyer by the Seller and Seller shall pay for title search, premium for owner’s policy and cost to correct any title defects. If obtaining a loan, the Buyer shall pay the mortgage policy.  The Buyer will pay for the recording of his/her necessary documents.  The Auction will conclude when the Auctioneer determines that all buyers have made their best and final offers.  Anyone desiring to bid must be approved prior to sale by Johnny Swalls.  Any statements made by the Auctioneer day of sale or during the sale take precedence over any oral or written heretofore. 

BUYER’S PREMIUM:  The Buyer will pay a 6% Buyer’s Premium which will be added to the bid price to arrive at the contract price.

MINERAL RIGHTS:  Any underlying mineral rights, fire clay, coal, methane gas, etc. owned by the Seller will by transferred to the Buyer.

POSSESSION:  At closing on the home and barn. Tenant has right to the field until crop is removed in Fall of 2007.

SURVEY:  There will be no survey if sold in one tract. Buyer will pay for survey if needed and Seller will choose Surveyor.

AGENCY: Johnny Swalls Auction & Appraisal, Inc. and its Representatives are Exclusive Agents of the Seller.

FOR PRIVATE SHOWING CALL:   Johnny Swalls 812-495-6119                               

SALE LOCATION:  At the Property                                                                                           

AUCTIONEER’S PHONE: 812-495-6119                                                                               

FAX:  812-696-5090  E-MAIL:  johnnyswalls@joink.com

AUCTIONEER:  Col. Johnny Swalls

CAI, AARE, GPPA, CAGA, CREA  

IN #AU01026257