125 +/- ACRES IN GIBSON & PIKE COUNTIES - 3 SEPARATE PARCELS OFFERED IN 7 TRACTS - INDIVIDUALLY, IN COMBINATIONS, OR IN THE ENTIRETY

The undersigned Auction Company has been authorized to sell the real estate belonging to the Estate of Joseph Joseph, consisting of approximately 125 +/- acres, located in Section 2 of the Northeast part of Barton Township, and Section 29 of the Southeast part of Columbia Township, Gibson County, Indiana, and Section 14 of the Southwest part of Monroe Township, Pike County, Indiana.  The real estate will be offered in seven (7) separate tracts, combinations, and in the entirety, as follows:

PARCEL 1 – TRACTS 1 & 2

Parcel 1 consists of approximately 5 +/- acres located in Section 2 of the Northeast part of Barton Township, Gibson County, Indiana.  The subject property has road frontage on

SR 57 in the town of Somerville.  The property is improved with a 1976 constructed

1-story frame house consisting of 960 sq. ft.  The house has (5) finished rooms and includes (2) bedrooms and (1) bathroom.  Other improvements include a 36′ x 60′ metal sided pole barn.  The barn has a poured concrete floor, (2) overhead doors, and is equipped with electricity.  Parcel 1 is a fantastic location for a small business.

PARCEL 2 – TRACTS 3, 4, & 5

Parcel 2 consists of approximately 76.5 acres located in Section 14 of the southwest part of Monroe Township, Pike County, Indiana.  CR 1150 S traverses the southwestern 36.5

acres of the subject property, allowing very good access.  Of the total acreage, approximately (20) acres are woodland, (55) acres are nontillable, and a farm pond occupies (1) acre.  The topography of the land is level.  Hosmer silt loam comprises part of the soil; however, most of the land is reclaimed coal mine.  There are no improvements on Parcel 2. 

PARCEL 3 – TRACTS 6 & 7

Parcel 3 consists of approximately 43.2 acres located in Section 29 of the Southeast part of Columbia Township, Gibson County, Indiana.  The subject property has road frontage to the north on CR 275 S which allows for very good access.  Of the total acreage, approximately (25) acres are tillable cropland, (16) acres are nontillable, and a farm pond occupies (2) acres.  The topography of the land is hilly.  The primary soil type is Hosmer silt loam.  There are no improvements on Parcel 3. 

PROCEDURE: The real estate will be offered in seven (7) tracts: individual tracts, any combination of tracts, or in the entirety.  There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer.  Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer.  All decisions of the Auctioneer are final.

DOWN PAYMENT: A 10% down payment 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: All successful bidders will be required to enter into Purchase Agreements at the auction immediately following the close of the auction.  This is an absolute auction and the property will be sold regardless of price.

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 at closing.

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 prorated to the dates of closing.

ACREAGE: All tract acreages, dimensions and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.  Purchaser(s) should make their own independent determination of acreage prior to bidding.

SURVEY: If a survey is deemed necessary, the cost of the survey will be shared 50/50 between the Seller and Buyer(s).

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.  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:

TO PARCEL 1 – Somerville Property - From Oakland City, travel south 5 miles and look for signs.

TO PARCEL 2 - Pike County Acreage - From Oakland City, travel South 11 miles, turn left on County Road 700 S, follow this road East towards Spurgeon, Indiana and look for signs.

TO PARCEL 3 - Gibson County Acreage - From Oakland City, travel East on County Road 200 S 1.3 miles, turn right onto County Road 1200 E 1 mile, turn left onto County Road 275 S and watch for signs.

INSPECTION DATE: Auction Company representatives will be available in Somerville to answer questions on Wednesday, August 18, from 4:00-6:00 pm.

AUCTIONEER’S NOTE: Three fantastic properties – mark your calendar, secure your financing, and plan to be there! 

OWNER: The Estate of Joseph Joseph

                  Joseph B. Bluemel, Personal Representative

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