ABSOLUTE AUCTION — GIBSON COUNTY LAND TRACTS
REAL ESTATE AUCTION
THURSDAY, APRIL 5, 2018 • 5 PM CT
ABSOLUTE AUCTION — GIBSON COUNTY LAND TRACTS
William Wilson Auction & Realty, Inc. has been authorized to sell the real estate belonging to the Wayne Sharp Trust, located in Section 18 of Montgomery Township and Section 1 of Wabash Township, Gibson County, Indiana.
TRACT 1 – Section 18, SW Montgomery Township
- 37 Acre Sand Field
- Irrigation Ready
- SR 165 Frontage
- 2018 Farming Rights
- 5 Miles North of Poseyville, IN
TRACT 2 – Section 1, SE Wabash Township
- 32 Acre Wooded Tract
- Dry Side of the Levee
- Classified Forest
- Timber Appraisal
- Just 3.5 Miles West of SR 165
- GPS Locator: [38.287277,-87.808234]
Income from Wind Energy: Tract 1 comes with a written offer from a wind energy company, which, if accepted by the new owner, will have an initial payment of $3000. Copy of lease offered is available upon request. Buyers must rely on their own interpretations of this lease. The wind energy company is offering a $1500 signing bonus, and a base rate of $1500/year plus additional payments for placement of any wind turbines, road and equipment easements etc. If all of the possible turbines and easements are elected, long term payments could exceed $200,000 over 50 years.
PROPERTY LOCATION: The real estate consists of Tract 1, located in Section 18 of SW Montgomery Township, Gibson County, IN and Tract 2 located in Section 1 of SE Wabash Township, Gibson County, IN.
AUCTION LOCATION: The auction will take place at the Poseyville Community Center, 60 N. Church St, Poseyville, IN 47633 on Thursday, April 5, 2018 – 5:00 PM CT.
INSPECTION – On-site at Tract 1, SR 165 • Thursday, March 22, 2018 • 12-1:00 PM CT
AUCTIONEER’S NOTE: Plan to attend this auction and buy these quality tracts. Selling Absolute, regardless of price.
OWNER: The Wayne Sharp Trust
All announcements the day of the auction take precedence over printed material or any other oral statements made.
PROPERTY LOCATION: The real estate consists of Tract 1, located in Section 18 of Montgomery Township, Gibson County, IN and Tract 2 located in Section 1 of Wabash Township, Gibson County, IN
PROCEDURE: The real estate will be offered in (2) tracts. There will be open bidding during the auction as determined by the Auctioneer. Conduct of the auction and increments of bidding are at the discretion of the auctioneer. All decisions of the Auctioneer are final.
DOWN PAYMENT: A 10% down payment is due on the day of the auction with the balance due at closing. The down payment may be in the form of cash, cashier’s check, personal check or corporate check. Bidding is not conditional upon financing. Bidders should arrange for financing, if needed, and be capable of paying cash at closing. The down payment is non-refundable. Should a buyer default, the down payment shall be divided as follows: 20% to William Wilson Auction Realty; 80% to the owner.
ACCEPTANCE OF BID: Successful bidder will be required to enter into a Purchase Agreement at the auction site immediately following the close of the auction. The real estate will sell at Absolute Auction, regardless of price.
BUYER’S PREMIUM: A 5% Buyer’s Premium will be added to the high bid to determine the contract sales price.
DEED: Seller shall provide a Trustee’s Deed conveying title to the property.
CLOSING: The balance of the purchase price is due at closing, which will take place within 30 days of the presentation of insurable title.
POSSESSION: Buyer will receive possession to the property at closing.
REAL ESTATE TAXES: Buyer shall pay the November 2018 taxes and all subsequent taxes.
ACREAGE: All tract acreages, dimensions, and proposed boundaries outlined on the auction plat and all advertising are approximate and are estimated based on current legal descriptions and/or aerial photos. Purchaser should make his/her own independent determination of acreage prior to bidding.
MINERALS: Sellers will convey all minerals they own.
SURVEY: If a survey is deemed necessary to establish a new legal description, the cost of the survey will be shared 50/50 between the seller and buyer.
DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this ad and all related materials are subject to the terms and conditions outlined in the Purchase Agreement, which shall take precedence. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or WILLIAM WILSON AUCTION & REALTY, INC., including, but without limitations to fitness for a particular use, physical condition, any specific zoning classification, title, location of utilities, assurance of building permits, driveway permits, or water and septic permits. All sketches and dimensions are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property.
To Tract 1: Tract 1 is located 5 miles north of Poseyville, IN on SR 165. Watch for signs.
To Tract 2: From SR 165 in Johnson head NW toward CR 1000W. Continue onto CR 1000W. Turn left onto CR 500S, then right onto CR 1150W. CR 1150W turns left and becomes CR 475S. Turn right onto CR 1300W. Watch for signs.