107.329+/- acres of Farmstead with house, outbuildings, pasture and pond; Productive Farmland; Potential Building Lots; and Well-Maintained Apartment Complex offering income from six two-bedroom units in Delaware County, Indiana

METHOD OF SALE: Halderman Real Estate Services, Inc. (HRES, IN Auct. Lic. #AC69200019) will offer this property at public auction on January 18, 2024.  At 6:30 PM, 107.329 acres, more or less, will be sold at the Delaware County Fairgrounds, Heartland Building, at 1210 North Wheeling Avenue, Muncie, IN 47308.  This property will be offered in seven (7) tracts as individual units, tracts 1 and 2 cannot be in combinations with other tracts and will only be offered as individual units, tracts 3-7 can be in combinations with each other. Each bid shall constitute an offer to purchase and the final bid, if accepted by the Sellers, shall constitute a binding contract between the Buyer(s) and the Sellers.  The auctioneer will settle any disputes as to bids and his decision will be final.  To place a confidential phone, mail or wire bid, please contact Chris Peacock at (765)546-0592, Lauren Peacock at (765)546-7359, AJ Jordan at (317)697-3086, or Larry Jordan at (765)473-5849 at least two days prior to the sale.

APPROVAL OF BIDS:  The Sellers reserve the right to accept or reject any and all bids.  All successful bidders must enter into a 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. 

DOWN PAYMENT:  10% of the accepted bid down on the day of the auction with the balance due at closing.  The down payment must be in the form of personal check, cashier’s check, cash or corporate check.  YOUR BIDDING IS NOT CONTINGENT UPON FINANCING. BE SURE YOU HAVE FINANCING ARRANGED, IF NECESSARY, AND ARE CAPABLE OF PAYING CASH AT CLOSING.

ACREAGE:  The acreages listed in this brochure are estimates taken from the county assessor’s records, FSA records and/or aerial photos.

BUYER’S PREMIUM: The buyer’s premium is 1% of the purchase price.

CLOSING:  The closing shall be on or before February 28, 2024.  The Sellers have the choice to extend this date if necessary.

OPEN HOUSES: Sunday, December 17, 2023 from 1:00 PM – 2:00 PM at the farm, and 2:30 - 3:30 PM at the apartment complex; Wednesday, January 3, 2024 from 4:00 PM – 5:00 PM at the farm, and 5:30 PM - 6:30 PM at the apartment complex.

POSSESSION:  Possession of land will be at closing. Possession of the farm buildings and apartment complex with be 45 days after closing.

REAL ESTATE TAXES:  The real estate taxes will be prorated to the date of closing.

DITCH ASSESSMENT: The ditch assessment will be prorated to the date of closing.

SURVEY: The Sellers reserve the right to determine the need for and type of survey provided.  If an existing legal description is adequate for title insurance for the tract, no new survey will be completed.  If the existing legal description is not sufficient to obtain title insurance, a survey will be completed, the cost of which will be shared 50/50 by the Sellers and the Buyer(s).  The Sellers will choose the type of survey to be completed and warrant that it will be sufficient to provide an owner’s title insurance policy for the tract.  If a survey is completed, the purchase price for the surveyed tract 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.

DEED:  The Sellers will provide a Trustee’s Deed at closing.

EVIDENCE OF TITLE:  The Sellers will provide an Owner’s Title Insurance Policy to the Buyer(s). Each Buyer is responsible for a Lender’s Policy, if needed.  If the title is not marketable, then the purchase agreement(s) are null and void prior to the closing, and the Broker will return the Buyer’s earnest money.

ZONING AND EASEMENTS: Property is being sold subject to any and all easements of record. Property is subject to all state and local zoning ordinances.

AERIAL PHOTOS, Images and Drawings: are for illustration purposes only and not surveyed boundary lines unless specified

MINERAL RIGHTS:  All mineral rights owned by the Sellers will be conveyed to the Buyer(s).

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, Sellers disclaim 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 HRES or the Sellers.

AGENCY:  Halderman Real Estate Services Inc., Russell D. Harmeyer, Auctioneer, and their representatives, are exclusive agents of the Sellers.

BID RIGGING:  Bid Rigging is a Federal Felony. Auctioneer will report illegal activity by any person to the FBI for investigation and prosecution. Title 15, Section 1 of the U.S. Code makes any agreement amongst potential bidders not to bid against one another, or to otherwise dampen bidding illegal. The law provides for fines of up to $100,000,000 for a corporate offender and $1,000,000 for an individual, plus imprisonment for up to 10 years.

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 Sellers 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 MADE.  The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either express or implied, concerning the property is made by the Sellers or HRES. No environmental audit has been made, nor will one be made. Except for any express warranties set forth in the sale documents, Buyer(s) accepts the property “AS IS,” and Buyer(s) assumes all risks thereof and acknowledges that in consideration of the other provisions contained in the sale documents, Sellers 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 Sellers 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 Sellers 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.