REAL ESTATE AUCTION

The undersigned Auction Company has been authorized to sell the Real Estate belonging to Michael Axton, located at 710 South Street and 712 South Street, New Harmony, IN.

REAL ESTATE:  The Real Estate consists of two adjacent lots with houses located on East South Street in New Harmony, Indiana.

710 South Street

The property consists of a 37′ x 116′ lot improved with a 1932 constructed 1-story wood frame house.  The house consists of 865 sq. ft. and contains (1) bedroom and (1) bathroom.  The house features an enclosed front porch.  The house has central gas heat and window air conditioning with 60 amp electrical service.  Utilities are provided by the Town of New Harmony and Vectren.  The lot has large shade trees.

712 South Street

The property consists of a 53′ x 116′ lot improved with an 1880 constructed 1-story wood frame house.  The house consists of 1,232 sq. ft. and contains (3) bedrooms and (1) bathroom.  A finished attic provides 616 sq. ft. of living space.  The house features an open front porch and an enclosed rear porch.  The house has central gas heat and window air conditioning with 100 amp electrical service.  Utilities are provided by the Town of New Harmony and Vectren.  The property includes a 9′ x 20′ utility shed. 

PROCEDURE: The houses will be offered separately.  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.  All final bid prices are subject to the Seller's acceptance or rejection.

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 General Warranty 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 Main Street in New Harmony, turn east onto South Street.  Proceed three blocks to auction site – watch for signs.

AUCTION LOCATION:  The auction will take place on-site at 6:00 pm on Wednesday, August 11, 2010

SHOWING:  Thursday, July 29 – 6:00-7:00 pm

AUCTIONEER’S NOTE: Two nice homes in Historic New Harmony!  An excellent opportunity to buy property close to New Harmony School.

OWNER: Michael J. Axton

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