ABSOLUTE REAL ESTATE AUCTION

The undersigned Auction Company has been authorized to sell the Real Estate belonging to the Estate of Roy William Schnoor, located at 4920 E. Blackford Road, Mt. Vernon, IN 47620.

REAL ESTATE:  The Real Estate consists of approximately 4.27 +/- acres located in Section 23 of the Northeast part of Black Township, Posey County, Indiana.  The Real Estate is improved with a 1961 constructed 2-story brick house which was remodeled in 1992 and contains (7) finished rooms including (4) bedrooms and (2½) bathrooms. The upper floors contain 2,792 sq. ft. and the basement provides 1,572 sq. ft. for a total of 4,364 sq. ft. of living space.  The house features an open frame porch with concrete floor and canopy.  The property includes a 36′ x 34′ wood frame barn.

PROCEDURE: The Real Estate will be offered in one (1) tract.  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.  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:  Successful bidder will be required to enter into a Purchase Agreement at the auction immediately following the close of the auction.  

BUYER’S PREMIUM:  A 6% buyer’s premium will be added to the high bid to determine the contract sale price.

DEED:  Seller shall provide a Personal Representative'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:  Possession will be at closing.

REAL ESTATE TAXES:  The real estate taxes will be the responsibility of the Buyer beginning with the taxes due and payable in November 2010 and thereafter.   

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 express 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.

DIRECTIONS: From Mt. Vernon, go north on Highway 69.  Turn east onto Farmersville Road.  Turn onto Blackford Road and watch for signs.

AUCTION LOCATION:  The auction will take place at 6:00 PM on Wednesday, July 7, on site at the residence.

 SHOWINGS:  Wednesday, June 9, 4:30-5:30 PM and

                           Wednesday, June 30, 4:30-5:30 PM

AUCTIONEER’S NOTE: Excellent opportunity to buy property with acreage in Posey County.

OWNER: Estate of Roy William Schnoor

                  Allison Cardin, Personal Representative

All announcements the day of the auction take precedence over printed material or any other oral statements made.