46 +/- Acres Jennings County Farm Auction

Offering Procedure: The successful Bidder(s) must be prepared to present a check or

complete a wire transfer for not less than 10% of the purchase price at the conclusion of the

auction to serve as Earnest Money. Funds (checks/wire transfers) must be made payable to

Geswein Farm & Land Realty, LLC.

Seller reserves the right to accept or reject any and/or all bids. The property is being offered to

the highest bidder in the manner resulting in the highest sale price.

 

Down Payment: A down payment for not less than ten (10%) percent of the bid and must be

submitted at the time of acceptance of the high bid(s) on April 6, 2023. The down payment

may be made in the form of a personal check, business check, or cashier’s check OR wire

transfer. The balance of the contract purchase price is due in cash at closing. YOUR BIDDING

IS NOT CONDITIONAL UPON FINANCING, be certain that you have arranged financing, if

needed, and are capable of paying for the property in cash at closing.

 

Acceptance of Bid Prices: The successful high bidder(s) will enter into a purchase agreement

immediately following the close of bidding for presentation to the seller. Final bid prices are

subject to approval or rejection by seller.

 

Possession and Closing: Successful bidder(s) will pay 10% of the successful bid on the day of

sale as earnest money. Successful bidders are purchasing with no financing contingencies and

must be prepared for cash settlement of their purchase on or before May 8, 2023 or after any

objections to title have been cleared. Final settlement will require wire transfer. Final

possession will be given at settlement, with early possession for agricultural purposes only.

 

Title: Seller shall furnish the buyer at seller’s expense an owner’s policy of title insurance in the

amount of the purchase price, and agrees to provide and execute a proper deed conveying

merchantable title to the real estate to the buyer.

 

Real Estate Taxes & Assessments: Current tax year 2022 real estate taxes and assessments

due and payable in 2023 shall be paid by the seller. 2023 real estate taxes and assessments

due and payable in 2024 shall be pro-rated on the date of closing. Real estate taxes and

assessments in 2024 and beyond shall be paid by Buyer.

 

Easements: Sale of property is subject to any and all recorded or apparent easements.

 

Mineral Rights: Sale shall include 100% of the mineral rights owner by the seller, if any.

 

Survey: Seller shall provide a new survey where there is no existing legal description sufficient

to convey title. Any need for a new survey shall be determined solely by the seller unless such

surveys are required by the State or local law. The cost of the survey shall be shared equally by

the seller and buyer(s). The type of survey performed shall be at the seller’s option and

sufficient for providing a standard form owner’s title insurance policy and the transfer of

merchantable title. If a survey is completed, the purchase price for the surveyed tract(s) will be

adjusted, up or down, to the exact surveyed acres. The price per acre will be the auction price

bid for the tract, divided by the tract acreage estimated in the auction brochure.

 

Acreages: All acreages are approximate and have been estimated based upon current legal descriptions,

FSA records, and aerial mapping software.

 

Agency: Geswein Farm & Land Realty, LLC is the exclusive agent of the seller. Indiana Auction License #

AU12000053.

 

DISCLAIMER AND ABSENCE OF WARRANTIES: All information in this brochure and all related materials

are subject to the terms and conditions outlined in the purchase agreement.

ANNOUNCEMENTS MADE BY THE REAL ESTATE AGENCY OR AUCTIONEER DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.

 

NEW DATA, CORRECTIONS AND CHANGES: Please review all announcements prior to scheduled

auction time to inspect any changes, corrections, or additions to the property information.

 

PROPERTY INSPECTION: Every potential Bidder is responsible for conducting, at their own risk, their own independent inspections, due diligence, investigations, and inquiries concerning the property. Inspection dates have been scheduled and will be staffed with auction personnel. Further, Seller, Seller’s Agent, and Auctioneer disclaim any and all responsibility for Bidders safety during any physical inspection of the property. No party shall be deemed an invitee of the property by virtue of the offering of the property for sale. 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 the auction company, auctioneer or real estate agency. 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 the 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 auction company, auctioneer, or real estate agency. All sketches and dimensions in this brochure are approximate. All acreages are approximate and have been estimated based on legal descriptions or aerial photographs. Conduct at the auction and increments of bidding are at the direction and discretion of the auction company and/or auctioneer. The seller & sellers agent reserve the right to preclude any person from bidding if there are any questions as to the person’s credentials, fitness, etc. All decisions of the auction company or seller agent are final.

 

NOTE: Videotaping, flash photography, and/or public announcements will be allowed on auction day ONLY with prior approval from Geswein Farm & Land Realty, LLC.

 

VIDEO/PHOTO DISCLAIMER & RELEASE: This auction may be videotaped, as all of our auctions. As a condition of attendance, attendees have agreed to the use of themselves without further consideration or compensation in both audio and video forms. These recordings may be used for purposes of illustration, broadcast, or distribution in any manner associated with the promotion of Geswein Farm & Land Realty,LLC.

CONFLICTS: In the event of any conflict between this document and the sales contract, the sales contract will prevail.