75.92+/- Acres - All Tillable
METHOD OF SALE: Halderman Real Estate Services, Inc. (Indiana Auct. Lic. #AC69200019) (“HRES” or the “Auctioneer”) will offer certain real property consisting of 397.96 acres, more or less, located in Pike County, Indiana (the “Property”), for sale at public auction on December 14, 2022. The auction will begin at 6:30 PM, and will be held at the Pike County Fairgrounds, in the Community Building, at 1211 State Hwy 56, Petersburg, IN 47567. The Property will be offered in four (4) tracts as individual units, in combinations, or as a whole farm. Each bid shall constitute an offer to purchase and the final bid, if accepted by the Seller, shall constitute a binding contract between the Buyer(s) and the Seller. The Auctioneer will settle any disputes as to bids and the Auctioneer’s decision will be final. To place a confidential phone, mail or wire bid, please contact Todd Litten at (812)327-2466, at least two days prior to the sale.
ACREAGE: The acreage of the Property listed in this brochure is an estimate taken from the county assessor’s records, FSA records and/or aerial photos. The total acreage included within the Property will be determined by the survey.
SURVEY: The Seller reserves the right to determine the need for and type of survey provided, if any. If the existing legal description is adequate for title insurance, no new survey will be completed or provided by the Seller. If the existing legal description is not sufficient to obtain title insurance, a new boundary survey will be completed, the cost of which will be shared 50/50 by the Seller and the Buyer(s). If a new survey is completed, the purchase price will be adjusted, up or down, to the exact surveyed acres. The price per acre will be the auction price bid for the tract, divided by the tract acreage estimated in the auction brochure.
DOWN PAYMENT: The Buyer(s) will be required to deposit with the title company or the Auctioneer on the day of the auction 10% of the accepted bid as an earnest money deposit (the “Deposit”), with the balance of the purchase price being due at the closing. The Deposit must be in the form of a cashier’s check, cash or wire transfer. BIDDING IS NOT CONTINGENT UPON FINANCING. PRIOR TO THE AUCTION, BUYER(S) SHOULD CONFIRM IT HAS FINANCING ARRANGED, IF NECESSARY, AND IS CAPABLE OF PAYING CASH AT CLOSING. The title company shall be selected by the Seller.
APPROVAL OF BIDS: The Seller reserves the right to accept or reject any and all bids. All successful bidders must enter into a written purchase agreement the day of the auction, immediately following the conclusion of the bidding. Successful bidders must execute purchase agreements on tracts exactly as they have been bid.
DEED: The Seller will provide a special (or limited) warranty deed at closing.
EVIDENCE OF TITLE: The Seller will cause the title company to provide Buyer(s) with an owner’s title insurance policy for the Property (or applicable portion thereof) insuring Buyer(s)’ title subject to all easements, rights-of-way, encumbrances and other matters of record or fact (except monetary liens), including any matters which would be disclosed by a current ALTA survey of the Property prepared in accordance with the 2021 Minimum Standard Detail Requirements for ALTA/NSPS Land Title Surveys, the rights of tenants under existing leases with Seller and the rights of third parties in and to oil, gas and other minerals under the surface of the Property (collectively, the “Permitted Encumbrances”). The Seller will be responsible for payment of the premiums due for the owner’s title insurance policy. Each Buyer is responsible for furnishing, at its expense, any lender’s title insurance coverage desired by its lender, if any.
CLOSING: The closing shall occur on or before January 31, 2023, on such date as shall be mutually agreed upon by the Seller and Buyer(s).
POSSESSION: Possession of the Property will be delivered at closing, subject to the Permitted Encumbrances, including without limitation, the existing Agricultural Lease for the Property (the “Agricultural Lease”), which is due to expire on December 31, 2024.
RENTAL INCOME: The Agricultural Lease will be assigned to the buyer(s) at closing. Provided that all rent due for the Property under the Agricultural Lease for 2022 will be retained by the Seller. The Buyer(s) will be entitled to receive all rent due for 2023 and thereafter under the Agricultural Lease.
REAL ESTATE TAXES: The Seller will be responsible for payment of all taxes and assessments due for the Property for 2022. Provided, however, the Buyer(s) will receive a credit, to be applied to the purchase price at closing, in the amount of the 2022 taxes and assessments due for the Property. If the amount of taxes and assessments due for 2022 are not yet available, the Buyer(s) credit will be based on the amount of the taxes and assessments paid for the previous year. No adjustments will be made following the closing.
MINERAL RIGHTS: All rights of the Seller in and to any oil, gas or other minerals underlying the Property, if any, will be conveyed with the Property, without any warranty of title.
PROPERTY INSPECTION: Each potential bidder is responsible for conducting, at their own risk, their own independent inspections, investigation, inquiries and due diligence concerning the Property. Further, the Seller disclaims any and all responsibility for bidder’s safety during any physical inspections of the Property. No party shall be deemed to be invited to the Property by Auctioneer or the Seller.
AGENCY: Halderman Real Estate Services Inc., Russell D. Harmeyer, Auctioneer, and their representatives, are exclusive agents of the Seller.
DISCLAIMER: All information contained in this brochure and all related materials are subject to the Terms and Conditions outlined in the purchase agreement. This information is subject to verification by all parties relying upon it. No liability for its accuracy, errors or omissions is assumed by the Seller or HRES. All sketches and dimensions in this brochure are approximate. ANNOUNCEMENTS MADE BY HRES AND/OR THEIR AUCTIONEER AT THE AUCTION DURING THE TIME OF THE SALE TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIALS OR ANY OTHER ORAL STATEMENTS. The Property is being sold and conveyed by the Seller on an “AS IS, WHERE IS, WITH ALL FAULTS” basis, and no warranty or representation, either express or implied, concerning the Property is made by the Seller or HRES. Each prospective bidder is responsible for conducting his/her independent inspections, investigations, inquiries and due diligence concerning the Property. Except for any express warranties set forth in the deed, Buyer(s) will accept the Property “AS IS,” and Buyer(s) assumes all risks thereof. The Seller and HRES make no warranty or representation, express or implied or arising by operation of law, including any warranty for merchantability or fitness for a particular purpose of the Property, or any part thereof, and in no event shall the Seller or HRES be liable for any consequential damages. Conduction of the auction and increments of bidding are at the direction and discretion of HRES and/or the Auctioneer. The Seller and HRES reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc. All decisions of HRES and/or the Auctioneer are final.
Petersburg, Indiana 47567
394.67+/- Acres of Good Productive Cropland, High Percentage Tillable Land, Great for an Investment located in Pike Co., Indiana.