103 ACRE LAND AUCTION
2 TRACTS (40 ACRES already Sub-Divided)
BUYER MAY PURCHASE REAL ESTATE PRIOR TO AUCTION
Shrine Farms Development, Inc. will offer for sale, at Auction, 103 acres m/l, in 2 tracts in Northern Vigo County. The property is located in Northwestern Lost Creek Township, Section 6, Township 12 N, Range 8 W. The tracts are located south of Haythorne Avenue at the intersections of 42nd Avenue and Pantry Street on the West and Egan Street on the East.
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THURSDAY, NOVEMBER 15, 2007 3:00 p.m. (Sharp!) Owner: Shrine Farms Development Sale Location: Best Western Inn 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 Wednesday, November 14, 2007, at 12:00 Noon. First accepted Offer Buys. |
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REAL ESTATE: The real estate consists of 103 acres m/l, and will be offered in 2 tracts. There are 63 tillable acres and 40 acres that have already been subdivided into 32 lots with most city amenities available. The property is ready for homes to be built today.
TRACT ONE: 63 tillable acres m/l, located on the south side of 45th Avenue (Haythorne Avenue) in Northwestern Lost Creek Township.
REAL ESTATE TAXES: The real estate taxes for Tract One are $13.96 per acre, per year and will be pro-rated at closing.
TRACT TWO: A 40 acre m/l, parcel that is already subdivided into 32 lots adjoining the above 63 acres; 8 lots have lake frontage. The subdivision has asphalt roads in place as well as fire hydrants, street lights, city water, city gas, underground electric and 6 cul-de-sacs. The subdivision consists of 32 lots of which 5 are sold and developed with upscale, 2-story brick homes. The subdivision has good covenants. Tract Two will sell as a whole.
REAL ESTATE TAXES: The real estate taxes for Tract Two are approximately $14.20 per acre, per year and will be pro-rated at closing.
PARCEL NUMBERS: Tract One: 84-07-06-226-001.000-007; Tract Two has 27 parcel numbers with the first one being: 84-07-06-426-011.000-007
LEGAL: Tract One: E-1/2 NE EXC PRT S END 63.61 AC 6-12-8; Tract Two has 27 legal descriptions with the first one being: SHRINE FARMS SUB LOT 1 1.48 AC 6-12-8
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 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. 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. The Buyer is only required to pay 10% down, of the contract price, day of sale.
SURVEY: The survey cost, if needed, will be paid by the Buyer and completed after closing.
POSSESSION: Tract 1: After removal of 2007 crops. Tract 2: Possession at Closing.
AGENCY: Johnny Swalls Auction, Inc. and its Representatives are Exclusive Agents of the Seller.
FOR PRIVATE SHOWING CALL: Sale Coordinator, P.J. Bezy 812-495-6119
SALE LOCATION: Best Western Inn, Terre Haute, IN; NW Corner of I-70 and US 41.
PLEASE CALL TO MAKE SURE THE PROPERTY HAS NOT SOLD.
