167 ACRE REAL ESTATE AUCTION

5 HOMES, BARN, PONDS & TILLABLE

3 Tracts

Vigo County

Terre Haute, Indiana

BUYER MAY PURCHASE REAL ESTATE PRIOR TO AUCTION

Wednesday, March 14, 2012 2:00 P.M. SHARP!

SALE LOCATION:

Holiday Inn

3300 US Hwy 41 S.

Terre Haute, IN 47802

NOTE: This property may be purchased 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, March 13, 2012 at 12:00 Noon. 

First accepted offer buys!!!

Call and put a bid in today!

Please call prior to auction to see if property has sold.

Tract 1: 19.50 Acres

Current Bid Price

$5,000.00 plus 6% = $5,300.00 Per Ac.=

$103,350.00 Total/Tract 1

REAL ESTATE AUCTION (TRACT 1)

19.50 Acres

Watch for Johnny’s Signs!

John Luers, Karen Luers Utley, Douglas W. Luers, Janyth Ayn Sallee & Kathy K. Cook will offer the following Real Estate listed below for sale.

TRACT 1: The property consists of 19.50 Acres with 15 Acres tillable.

PARCEL NUMBER: 84-09-23-451-001.000-003

LEGAL DESCRIPTIONS: MID SW SE.30 AC SUBJ CO RD 2004000924 2003027905 23-11-9 21.170 AC

REAL ESTATE TAXES on the property are approximately $472.36 per year. The taxes will be pro-rated at closing.    

SURVEY: The Buyer will pay for survey, if one is needed and Auctioneer will arrange for the Surveyor.

POSSESSION: At closing and not before.

* See Note 2 below. 

(TRACT 2)

5 Homes & 2 Ponds on 78.17 Acres m/l

TRACT 2: The  property includes 5 homes, large barn and 2 Ponds on 78.17 Acres with 21 Acres tillable.

There is city water and a septic system to each home.

7001 S. Luer Lane: 2 bedrooms & 1 bath

7002 S. Luer Lane: 2 bedrooms & 1 bath

7003 S. Luer Lane: 3 bedrooms, 1 bath, central air, LP gas furnace, refrigerator, range, city water, septic, 1 car detached garage with wood burning stove.

7004 S. Luer Lane: 2 bedrooms, 1 bath, central air, LP gas furnace, refrigerator, range, city water and septic.

7005 S. Luer Lane: 1 bedroom, 1 bath, window air, LP gas furnace, refrigerator, range, city water and septic.

PARCEL NUMBER, LEGAL DESCRIPTION & REAL ESTATE TAXES: To be determined

SURVEY: The Buyer will pay for survey, if one is needed and Auctioneer will arrange for the Surveyor.

POSSESSION of homes & barn 30 days after closing.

POSSESSION OF TILLABLE ACREAGE: At closing and not before.

Note 1: Driveway is currently being leased from CSX for $640.00 per year.

Note 2: If Tract 1 & 2 sell separate, then a 50’ strip will be sold off the west side of Tract 1 for Tract 2. This will let Tract 2 own the ingress egress for a future driveway, if needed. 

(TRACT 3)

69 Acres m/l with 3 Ponds.

TRACT 3: The property consists of 69 Acres with 18 Acres tillable. There are two ponds among a  wooded area with beautiful deer.

PARCEL NUMBER, LEGAL DESCRIPTION & REAL ESTATE TAXES: To be determined

SURVEY: The Buyer will pay for survey, if one is needed and Auctioneer will arrange for the Surveyor.

POSSESSION: At closing and not before.

IF ALL THREE TRACTS ARE PURCHASED TOGETHER.

PARCEL NUMBERS:84-09-23-451-001.000-003, 84-09-23-426-001.000-003, 84-09-14-400-009.000-003, 84-09-23-203-001.000-003,

84-09-14-400-008.000-003, 84-09-23-276-001.000-003 & 84-09-23-255-001.000-003

LEGAL DESCRIPTIONS: MID SW SE.30 AC SUBJ CO RD 2004000924 2003027905 23-11-9 21.170 AC, N-1/2 SE EXC RR D-443/1709 23-11-9 52.550 AC, S PRT SE D-443/1709 14-11-9 3.870 AC, E OF RR IN NE D-443/1709 23-11-9 8.700 AC, S-1/2 SE E OF RR S OF CREEK D-443/1709 14-11-9 1.900 AC, E OF RR IN NE D-443/1709 23-11-9 78.190 AC & E OF RR NE D-443/1709 23-11-9 1.020 AC

REAL ESTATE TAXES for Tract 1, Tract 2 & Tract 3 including 5 homes, barn, ponds & land are approximately $7,321.32 per year. The taxes will be

pro-rated at closing.

SURVEY: No survey needed.

POSSESSION of homes & barn 30 days after closing.

POSSESSION OF TILLABLE ACREAGE: At closing and not before.

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 30 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 2006 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 and recording of  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. The Buyer is only required to pay 10% down, of the contract price, day of sale. 

MINERAL RIGHTS:  All coal, fireclay, gas and underlying minerals owned by the Seller (if any) will be transferred to the Buyer.  Seller will not warrant title to underlying minerals. 

FOR PRIVATE SHOWING CALL: 812-495-6119 or 1-877-696-5099

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

E-MAIL: auctions@jswalls.com

AUCTIONEER/BROKER: Col. Johnny Swalls, CAI, AARE, GPPA, CAGA, CREA  IN#AU01026257, PB#20803178 

AUCTIONEER: James R. Swalls #INAU09200044

167 Acres on Woodsmall Rd.

In Terre Haute, IN

DIRECTIONS

Tract 1: From the intersection of US 41 & Woodsmall Drive; travel east on Woodsmall Drive; Proceed to Property.

The property is located on the north side of the road just before you go under the SR 641 overpass.

Tract 2: North of Tract 1. Turn north onto S. Luer Lane (the gravel drive just west of the railroad tracks).

Tract 3: From the intersection of US 41 & Woodsmall Drive; travel east on Woodsmall Drive; turn left onto Woodsmall Access Road (just east of the 641 bypass & overpass).

The property is located on the north side of the red farm gate north of the asphalt drive.