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572 Acres Martin Auction
June 11, 2015 @ 6:00 pm - 11:30 pm
Clark & Madison County Martin Sale Results
Whole Farm Total $5,300,000 = Per Acre $9,178
Tract 1 – 81.1 acres = $665,000= $8,124.61 per acre
Tracts 2-3-4 – 203.1 acres = $1,700,000 = $8,370.26 per acre
Tract 5 – 292.5 acres = $2,935,000 = $10,034 per acre
572 Acres With Improvements Clark and Madison Counties
- 552 Acres Tillable
- 2 Grain Farms
- Selling in 5 Tracts
- Farm 1 = 81..8 acres vacant land with 80.5 acres tillable
- Farm 2 = 491 acres with 2 homes, barns, grain bins, 471 acres tillable. Selling in 4 tracts
- Soils for both farms consist of Kokomo and Crosby
Procedure: The Properties will be offered in 5 individual tracts, any combination of tracts and as a total 573 acres. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on individual tracts, tract combinations and the total property may compete.
Down Payment: 10% down payment on the day of auction for individual tracts or combinations of tracts. The down payment may be made in the form of cashier’s check, personal check, 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.
Acceptance of Bid Prices: All successful bidders are required to sign a Purchaser’s Agreement at the Auction site immediately following the close of the Auction.
Deed/Easement: Seller shall provide a fiduciary deed. Real estate is sold subject to all rights of way, legal highways, leases, easements and restrictions of record, and all other matters of public record.
Title Insurance: Property is selling with good marketable title by fiduciary deed.Seller will provide a title commitment. Purchaser is responsible for title insurance if desired.
Closing: The balance of the purchase price is due at closing, which will take place on or before July 30, 2015, or as soon thereafter as applicable closing documents are prepared by the Seller. All lender costs shall be paid by the Buyer(s).
Possession: Possession is at closing, subject to tenant’s rights.
Real Estate Taxes: Seller to pay 1st half 2015, buyer thereafter.
Acreage: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.
Survey: A new survey will be provided if necessary for recording where there is no existing legal description or where new boundaries are created by the tract divisions in this auction. The survey will be at the Sellers expense and any issues regarding the survey will be at the Seller’s discretion, combination purchases will receive a perimeter survey only. Acreage and purchase price will be adjusted after auction based on new survey if one is needed.
Agency: Wilson National, LLC. and its representatives are Exclusive Agents of the Seller.
Farm Lease: Both farms are leased until Feb. 28, 2016 with the exception of the rental home on Tract #3. However, once the 2015 crop is harvested the new buyer or new tenant will have the right to possess the land for purposes of fall tillage, fertilizer, seed wheat or otherwise prepare the ground for planting in proper season for the following year’s crop. The present owners have already received the first rent installment for the land, home, buildings, and bins. The second installment is due August 1, 2015 and will be paid to the new buyer thus representing half of the cash rent for 2015. The cash rent for the land is $180.00 base rent per tillable acre. There is a flex portion to the land rent. Copy of the lease can be obtained by going to www.wilnat.com and clicking on attachment to Sunnyfields Farm Auction. Any bonus payment to the base rent for 2015 will be split equally between Seller and new Buyer and payable on date indicated in the lease agreement. The approximate base cash rent payable to the new Buyer for each tract on August 1st is as follows: Tract #1: $7,245; Tract #2: $4,527; Tract #3: $100, home tenant presently paying $800 per month on a month to month agreement; Tract #4: $12,690; Tract #5: Land Rent: $25,020, Home Rent: $4,500, Barn Rent: $3,000, Grain Bin Rent: $2,000 – Tract #5 Total: $34,520.
Mineral Rights: All mineral rights owned by the Sellers will be conveyed to the Buyers.
Disclaimer & Absence of Warranties: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the agreement to purchase. Announcements made by the Auctioneer at the auction podium during the time of sale will take precedence over any previously printed material or any other oral statements made. The property is 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 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 believed to be accurate but is subject to verification by all parties relying on it. No liability for its accuracy, errors or omissions is assumed by the Seller, the broker or the auction company. All sketches and dimensions in this brochure are approximate. Conduct of the auction and increments of bidding are at the direction and
discretion of the Auctioneer. The Seller, broker and auction company reserve the right to preclude any person from bidding if there is any questions to that person’s credentials, fitness, etc. All decisions of the Auctioneer are final.
New Data, Corrections, and Changes: Please arrive prior to scheduled auction time to inspect any changes, corrections or additions to the property information.