**Be sure to read the Terms & Conditions outlined here and all information contained in the Property Information Packet.
**By bidding in this auction you are acknowledging having read and agreeing to the Terms & Conditions of this auction.
CONDITIONS OF SALE: This is an auction of real estate. Seller represents that it has title to said property, and at the time the sale is closed, Seller agrees to convey marketable title to said property via General Warranty Deed, subject to general utility easements of record servicing said property, and such other leases, easements or restrictions as may be specifically set forth herein or of public record. **A recent search through the chain of title and deeds does not show that the mineral rights were ever severed from either of these parcels.
NON-CONTINGENT AGREEMENT: All parties acknowledge that bids made in this auction are not contingent upon financing or any bidder contingencies.
IRREVOCABLE OFFER / ACCEPTANCE DEADLINE: All bids will remain valid, irrevocable and available for the Seller's acceptance until Thursday, December 7th, 2017 at 11:00 A.M. EST.
DESCRIPTION OF SUBJECT PROPERTIES
Sullivan Co. parcel #77-05-23-000-003.000-016, 54.07 acres
Sullivan Co. Parcel #77-05-14-000-016.000-016, 28 acres
RESTRICTIONS: Sold subject to all respective Sullivan County and State of Indiana laws, ordinances, and regulations. Also subject to all easements and restrictions of record.
SPECIAL NOTES: Subject property shall be sold pursuant to the following terms and conditions:
1. Property is being offered subject to seller's confirmation.
2. The parcels are being offered separately and will not be combined for a total bid. A bidder wishing to purchase both parcels must be the high bidder on each parcel at the close of the auction. This internet-only auction has a soft close with the closing time for both parcels tied together. If a bid is placed on one parcel within the last 5 minutes of bidding time, the available time to bid on either parcel will be extended by 5 minutes
3. The property is being sold in strictly "As-Is, Where-Is" condition, WITH ALL FAULTS. Neither Seller nor its agents have made representation or warranty of any kind, expressed or implied regarding the condition of the property or its fixtures.
SURVEY: Property will be conveyed pursuant to description on deeds of record. NO SURVEY WILL BE PROVIDED BY SELLER. (A previous survey which includes the 54 acre parcel has been provided by the seller and can be found in the property information packet.)
CLOSING AGENT/LOCATION: Closing shall take place at:
Hendrich Title Company
1418 N 1000 W
Linton, IN 47441
and will occur on or before close of business on Jan. 9, 2018.
TERMS OF SALE: At the conclusion of the auction the successful bidder will be emailed a contract to be executed and returned to Wells Auction & Realty. Upon confirmation of the bid(s) by the seller the successful bidder(s) credit card will be charged $5,000.00 which will be held in escrow as part of the down payment. The successful bidder(s) will also deposit the balance of Ten Percent (10%) of the Contract Sales Price by wire transfer to the escrow account of Hendrich Title Company. This must be completed within 48 hours of receipt of the documents signifying acceptance of the bid or the purchaser shall be in default. The entirety of the remaining balance is due on or before the contract closing date stipulated in the purchase agreement.
CLOSING & POSSESSION: Time is of the essence, the property shall be closed on or before the contract closing date stipulated in the contract of sale. The seller will pay for preparation of the deed of conveyance, owner's title insurance, 50% of the fee charged by the closing agent for the closing and all real estate taxes up to the date of closing. The Purchaser will pay all other closing costs. Possession will be granted at closing.
LIQUIDATED DAMAGES: If purchaser fails to close for any reason within the prescribed time stated herein, and no written extension agreement has been granted by the Seller, the buyer shall forfeit all monies held on deposit. If such action occurs, John Wells, Broker/Auctioneer, d/b/a Wells Auction & Realty hereby has the right to disperse the deposit pursuant to the terms stated in the listing agreement signed by the Seller governing this transaction, and the Purchaser shall have NO claims to such money or the property being sold. Additionally, forfeited deposit monies shall be applied against the sellers damages without affecting any other remedies that the seller may have in law or in equity. Bidder is hereby advised that they could lose their deposit upon default of this bid or the contract for purchase of real estate at auction.
BUYERS NOTE: The decision of the auctioneer is final. All information published, announced or contained herein was derived from sources deemed reliable and accurate; however, it is NOT guaranteed by the Seller or the auctioneers. Personal, on-site inspection of the subject property is strongly recommended. The failure of any bidder to inspect, or to be fully informed as to the condition of the property, will not constitute grounds for any claims or demand for adjustment or withdrawal of a bid. Please note you are buying the subject property AS-IS, WHERE-IS, WITH
ALL FAULTS, with no guaranties or warranties of any kind.
REAL ESTATE BROKERAGE SERVICES DISCLOSURE. John Wells, Broker/Auctioneer, d/b/a Wells Auction & Realty, its agents and employees, are agents of the Seller and their fiduciary duties are owed to their client (the Seller). We do not represent the BUYER in any part.