120 Acre Multi-Parcel Real Estate Auction

Erma L. Kirkling Family Trust

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Brief Description

120 Acres in 8 Tracts.  Includes a 3 BR home, 5 acres building sites, 20 acres with 4 acre lake, large pole building, 80+ acres tillable.  Buyers may purchase a single tract or any combination of tracts.

Auction Schedule

Live Off-Site Auction

Began: Monday, February 27, 2017 at 6:00 PM EST

Location: 902 S. Main St., Something 2 Do Event Center, Clay City, IN 47841

Inspection

Began: Tuesday, February 07, 2017 at 5:30 PM EST

Ended: Tuesday, February 07, 2017 at 6:30 PM EST

Location: 5877 S 100 E, Clay City, IN 47841

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Details

**Open House to view the house on this property is Tuesday, February 7 from 5:30 to 6:30.

This real estate auction is being held for the Erma L. Kirkling Family Trust, David Kirkling Trustee.

The land consists of a total of 120 acres.  It is being offered by the multi-parcel auction system in 8 tracts.  This method of offering the property allows those who might want a building site or who cannot afford the entire property to compete with the bidder who desires the entire 120 acres.  Bidders may purchase a single tract, any combination of the 8 tracts or all 8 tracts as a whole.

Please see the included documents for complete terms and procedures of the auction, and a site map of the division of tracts.

A buyer suppper is being provided by Wells Auction & Realty, starting at 5:00 p.m.

 

Tract Descriptions

Tract 1:  5 acres – flat, open ground currently row crop farmed, with about 440’ of frontage on CR 650 S & 495’ of frontage on CR 100E.

 

Tract 2:  5 acres – flat, open ground currently row crop farmed, with about 440’ of frontage on CR 650 S and 495’ deep.

 

Tract 3:  5 acres – flat, open ground currently row crop farmed, with about 440’ of frontage on CR 650 S and 495’ deep.

 

Tract 4:  25 acres – flat, open ground currently row crop farmed, with about 825’ of frontage on CR 100 E and 1320’ deep.

 

Tract 5:  20 acres – flat, open ground currently row crop farmed, with about 660’ of frontage on CR 100 E and 1320’ deep.

 

Tract 6:  20 acres – flat, open ground currently row crop farmed, with about 660’ of frontage on CR 100 E and 1320’ deep.  This tract includes a 4 acre lake in the northeast corner of the tract.

 

Tract 7:  35 acres – flat to rolling pasture or hay ground with around 6 acres currently row crop farmed and about 520’ of frontage on CR 100 E.  The hill in the middle of the tract is the topsoil pile which was not used for reclamation when the decision was made to leave a lake.  There is a small pond in the northeast corner of the tract.  This tract includes a 48’ x 60’ metal building with concrete floor and originally wired for 3 phase power.  There are opposing 20’ wide x 24’ high door openings at each end of a 32’ x 60’ bay.  The building also has a 14’ x 36’ shop room with an 8’ wide x 10’ high rollup door, 2 offices and a restroom on the ground level and 2 offices plus storage space upstairs.  This tract formerly had a truck scale but only the concrete approaches and base remain.  The concrete pad base for the scale could be the floor for an additional building or would make the perfect feeding area for a cattle herd.

 

Tract 8:  5 acres – This tract is flat and open with around 3 acres currently row crop farmed and about 800’ of frontage on CR 100 E and about 272’ deep.  It includes a 3 bedroom / 1 ½ bathroom, 1400 sq. ft. brick home with a full basement.  There is a 1 car detached garage with a lean-to storage shed attached to the garage.  The address to this home is 5877 S 100 E, Clay City.  **An Open House to view the house on this tract is being held on Tuesday, February 7 from 5:30 to 6:30 p.m.

 

 

 

 

Featured Images

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Gallery: Kirkling Land Auction Pictures

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Auction Terms

REAL ESTATE AUCTION TERMS & PROCEDURES

 

PROCEDURES: The property will be offered in 8 individual tracts, any combination of tracts, or as a total 120 +/- acre unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations and the total property may compete.

 

DOWNPAYMENT: 10% down payment on the day of the auction with the balance in cash at closing. The down payment may be made in the form of cash; cashiers check, personal or corporate check. Your bidding is not conditional upon financing, so be sure you have arranged financing, if needed and are capable of paying cash at closing.

 

BUYER’S PREMIUM: Successful bidder(s) will pay a 5% buyer’s premium which will be added to the bid price to arrive at the contract price.

 

ACCEPTANCE OF BID PRICES: Successful bidder(s) will be required to enter into a purchase agreement at the auction site immediately following the close of the auction. All final bid prices are subject to the Seller’s acceptance or rejection.

 

EVIDENCE OF TITLE: An ALTA Title Insurance Commitment in the amount of the Contract Price will be issued.  Buyer shall pay the fees incurred for all title searches, title insurance policies, recording of documents and closings.

 

DEED: Sellers shall provide General Warranty Deed.

 

CLOSING: The balance of the real estate purchase price is due at closing, which will take place within 10 days of presentation of title policy estimated on or before April 14, 2017.

 

POSSESSION: Possession of all tracts will be given at closing.

 

REAL ESTATE TAXES: Seller to pay taxes for 2016 payable 2017. 2017 taxes will be prorated to the day of closing.

 

ACREAGE: All boundaries are approximate and have been estimated based on current legal descriptions.

 

SURVEY: A new survey will be made where there is no existing legal description or where new boundaries are created by the tract divisions in this auction. Buyer(s) will pay survey expense.

 

EASEMENTS: Sale of the property is subject to any and all easements of record.

 

MINERAL RIGHTS: The sale shall include 100% of the mineral rights owned by the Seller.

 

AGENCY: Wells Auction & Realty and its representatives are exclusive agents of the seller.

 

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the Terms and Conditions outlined in the Purchase Agreement. The property is being sold on “AS IS, WHERE IS” basis, and no warranty or representation, either express or implied, concerning the property is made by the seller or the auction company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors or omissions is assumed by the Sellers or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Sellers and Selling Agents reserve the right to preclude any person from bidding if there is any question as the person’s credentials, fitness, etc. All decisions of the Auctioneer are final.

Documents

Directions

The land is located northeast of Clay City, Indiana, 1 mile east of Highway 59 on Co. Rd. 650 S.  The land is north of CR. 650 S and east of CR 100 E.

The auction is being held at the Something 2 Do Event Center at 902 S. Main St. in Clay City, Indiana. 

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