PALMYRA REAL ESTATE AUCTION
173+ ACRES-TWO TRACTS
ABSOLUTE-NO RESERVE
3100+ SQ.FT COUNTRY HOME
TILLABLE/WOODED ACREAGE
ONLINE ONLY-BIDDING ENDS MAY 23
ADDRESS: 1730 E. Martinsburg Fire Rd., Palmyra, IN 47164
Just 4 miles NE of Palmyra or 25 miles NW of Louisville KY!
CLICK ON VIEW DOCUMENTS TAB ABOVE FOR AERIAL, PROP. ASSESS. TAX INFO, ETC.
NOTE: THIS INFO HAS BEEN REVISED AS OF 4/27/2016!
5/3/2016 UPDATES: Refrigerator, stove, dishwasher, washer, dryer are included with the real estate. DSL Internet is available through Frontier.
5/17/2016 UPDATES: Exterior of home recently painted. See updated featured photos.
05/18/2016 UPDATE: See Plat that shows driveway access to Tract #2 under the "View Documents" tab.
REAL ESTATE: Originally this 172.99 +/- acre farm was homesteaded in 1813, & has a rich history in the local community as the first homesteaded farm in Washington County. This well-maintained farm features: 59 +/- income producing tillable acres, 100+ acres of wooded property (with 71.6 +/- acres in Classified Forest), 2900’+ of Bear Creek frontage, 460’+ of road frontage on E. Martinsburg Fire Rd, & natural springs. Highlights of the improvements include: private/secluded park like setting home site with a pre-Civil War 1860 built updated 2-story country farm house with 4BR/3BA, 3168 +/- SF, massive wrap around porch & wonderful views out any window. Property also included a hand-hewn log style barn, multiple out buildings, (2) grain bins, large machinery shed & recent (2013) bridge over the creek. Sells absolute with no reserve in multiple tracts!
HISTORICAL INFO: Property was originally homesteaded by Maryland Militia LT W Wayman in 1814. LT W Wayman chose this property since it was customary for the highest ranking officer to get first choice, this farm continues to remain one of the larger homesteads in Southern Indiana. Property also includes two cemeteries, the Wayman Family Cemetery and an Old Indian/Old Settlers cemetery. Property also lies adjacent to the Vincennes Trail.
TRACT #1: 102.51+/- acres & all improvements. Farm House features: 1860 built 2-story completely updated home, 3168 +/- SF, 4BR/3BA, & a massive wrap around porch. Home mechanicals: first/second floor has independent heat/central air systems, LP forced air furnaces, 2009 new water line installed from road, 2015 updated plumbing system, & 400 amp service. Additional buildings: 30’x60’ metal sided building, 43’x60’ hand hewn log barn, 20’x30’ barn, & two grain bins. Land features: mainly wooded acreage (with 71.6 +/- acres Classified Forest), 2016 timber appraisal of $48,600, extremely private, park like setting, amazing views across property, & access via a 16’ easement off of the county road. NOTE: 9 +/- acres of woodlands are in CRP program, buyer to received 2016 income (2015 income was $1082). Come visit this farm and see how time stood still!
TRACT #2: 70.48 +/- acres & no improvements. Land features: 59.3 +/ acres of cropland (per FSA) with remainder of acreage is wooded, 2900’ +/- of Bear Creek frontage, 460’ +/- of road frontage on E. Martinsburg Fire Rd. Approximate 2015 income from farm lease was $4750 +/-. NOTE: no improvements on this tract.
FARM LEASE: Farm is currently leased for the 2016 season, new buyer will not receive any income from 2016 season. This only perrtains to Tract #2.
TIMBER APPRAISAL: Timber value $48,600 based on approx. 90 acres of commercial timber.
MINERAL RIGHTS: All mineral rights are included in this property, but are currently leased with a gas company. New buyer(s) will receive all royalties from said property.
SURVEY FEES: Buyer of Tract #1 will pay $4566 & buyer of Tract #2 to pay $3134.
WILDLIFE/HUNTING INFO: This property is well suited for hunters and wildlife enthusiasts, daily viewing of turkey, squirrel, rabbit, quail, dove, and whitetail deer! Due to existing creek frontage, terrain of the land, this farm is a natural home to wildlife!
FSA INFO: 59.3 +/- cropland acres, see “FSA Map” under “view documents” tab for aerial maps.
SOIL DATA SHEETS: Visit website under “view documents” tab for soil data maps.
POSSESSION INFO: Possession of house will be at closing, but not before June 2, 2016. Possession of all crop land will be subject to fall harvest rights by existing farm tenant.
UTILITY PROVIDERS: Electric-REMC & Water-Borden Water Co
INSPECTION: #1-Thurs April 28 4-6 PM, #2-Tues May 17 4-6 PM & #3-Thurs May 19 5-6 PM
PERSONAL PROPERTY AUCTION: Online only-bidding ends May 24
LEGAL DESCRIPTION: 22-09-500-001.000-05 PT NE 9-1-4 2.19A PTSH NW 9-1-4 11.42AC PT NE 9-1-4 125A EH NE NW 9-1-4 14.37A (53.3AC CF); 22-04-700-016.000-05 SW PT SE 4-1-4 16. AC PT SE 4-1-4 4.405 AC (15.36AC (C)) and 22-10-200-003.000-05 NW COR NW NW 10-1-4 3.18AC
TAXES: $1738 per installment for entire property (based on current owner exemptions). See tax record (under” view documents” tab) for break-down of taxes per parcel ID number
PARCEL ID: 88-04-09-000-001.000-008; 88-04-04-000-016.000-008; 88-04-10-000-003.000-008
REFERENCE POINTS: Louisville KY-25 miles; Corydon, IN-18 miles; Salem-13 miles; Palmyra, IN-4 miles
DIRECTIONS: From I64 Corydon/Palmyra Exit 105 north on Hwy 135 15 miles, turn right on E Martinsburg Fire Rd one mile, left to stay on Martinsburg to site. From New Albany, west on I64 12.5 miles to Greenville/Paoli Exit 119, US150 west 8.7 miles, right on IN335 north 5 miles, left on E. Martinsburg Rd 2.8 miles to site.
OWNER: Judy S. Graves
Working in conjunction with The Paxton Group at Keller Williams
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1. Conditions of Sale: This online only auction is absolute with no reserve and is a cash sale not contingent on or subject to financing, appraisal, survey, or inspections of any kind, as agreed to by bidders at registration prior to bidding and specified in the attached Agreement to Purchase Real Estate. Seller and Buyer(s) shall pay their share of the costs of closing. Buyer acknowledges they are buying property “as-is”, “where-is”, without inspections or contingencies. Buyer(s) will rely on his/her own judgment and inspection. By signing an offer, Buyer(s) will be waiving the 10-day lead based paint test.<br>
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2. Closing Info: A Buyer’s Premium of 10% is added to the high bid. Please take this into consideration when bidding. At the close of the auction, the successful Bidder will be emailed an Agreement to Purchase Contract to be executed and returned to Beckort Auctions, LLC within twenty-four (24) hours of the completion of the auction along with 10% deposit of the total contract price. If method of payment of the 10% earnest deposit is made by credit card, there will be a 3% fee charged. The entirety of the remaining balance is due at closing on or before Thirty (30) days from Auction Day. Purchaser will be responsible for all wire transfers. Per the Contract, time is of the essence; you should proceed to closing within Thirty (30) days. Possession shall be given to the successful Buyer(s) at closing, seller will provide deed preparation.<br>
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3. Lead Based Paint Disclosure: Buyers of any interest in residential real property with a residential dwelling built prior to 1978 are notified that such property may present exposure to lead from lead-based paint. The Seller(s) of such property is required to provide the Buyer(s) with any information on lead-based paint hazards from risk assessments or inspections while in the Seller(s) possession and notify the Buyer(s) of any unknown lead-based paint hazards. Any inspections and assessments for the presence of lead-based paint and/or hazards by a buyer(s) must be made prior to auction; otherwise, buyer(s) waives the 10-day opportunity to conduct such risk assessment/inspection and shall acknowledge receipt of lead-based paint disclosure form.<br>
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4. Liquidated Damages: Successful Bidders not executing and returning their Contract with Earnest Money deposit within Forty Eight (48) hours of the conclusion of the auction will be considered in default. If your closing is delayed for any reason, by you, as purchaser, or other parties working on your behalf, including any lender you involve, you may be declared in breach of this contract, forfeit all deposits made and could additionally be liable for any and all costs incurred by Seller and Beckort Auctions, LLC incurred in a subsequent resale of the property. If such action occurs, Beckort Auctions LLC hereby has the right to disperse the deposit as stated in the listing agreement and the buyer has no claims to such money or property being sold. Liquidated damages are to cover cost of auction, cost incurred by seller, labor cost and additional cost of auction as not defined in this agreement. These liquidated damages do not restrict the seller from suing the buyer for performance damages and/or any additional damages the seller suffers by the default of the buyer.<br>
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5. Back-Up Bids: If you are not the successful bidder on the real estate and wish to make a back-up bid in case of default by the high bidder, please see Brian Beckort to receive a Back-Up Bidder Form.<br>
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6. Other Conditions: Buyer(s) must be prepared to make a cash offer. There are no contingencies to this sale (i.e., financing, appraisal, repairs, or inspections). Therefore, you should be pre-qualified by a lender prior to bidding if you require financing. This property is being sold for cash “as-is, where-is” with a closing deadline. <br>
Beckort Auctions, LLC reserves the right to remove or cancel the bids and or bidding rights and privileges of any party at any time deemed not to be in the best interest of the seller. The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Beckort Auctions LLC will reject the registration, and bidding activity will be terminated.<br>
All Beckort Auctions, LLC Online Only Real Estate Auctions are timed events that have an auto-extend feature. Any bid placed within 10 minutes of the auction ending will automatically extend the auction for 10 minutes from the time the bid is placed. Example: If an auction scheduled to end at 6:00 p.m. receives a bid at 5:59 p.m., the close time of the auction automatically extends to 6:10 p.m. The auto-extend feature remains active until no further bids are received within the 10 minute time frame.<br>
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7. Real Estate Brokerage Services Disclosure: Beckort Auctions LLC and their representatives are Exclusive Agents of the Seller(s). We do not represent the buyer(s) in any manner and we must be completely loyal and faithful to our client. Beckort Auctions LLC has an exclusive right to sell listing for this transaction. All negotiations must be conducted through Beckort Auctions LLC.<br>
A two percent (2% variable) bid price commission, not to include any buyer’s premium if applicable, is available to properly registered Brokers/Agents. You must pre-register your Buyers with Beckort Auctions, LLC twenty-four (24) hours before the end of the auction by filling out and recording with Beckort Auctions a Broker Registration Form. Agents who fail to pre-register their Buyer will not be recognized as Buyer Agents and will not be entitled to a co-op commission. Broker/Agent cannot act as a Buyer and Broker/Agent on the same transaction. Please review the Broker Registration form for eligibility.<br>
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8. Beckort Auctions LLC Involvement in this Contract: The seller and buyer hereby agree that Beckort Auctions LLC is a part of this contract and shall receive compensation as stated in the agreement hereto or as stated in the listing agreement hereby made a part of.<br>
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9. Restrictions: Real Estate is sold subject to any and all existing matter of record, and all easements, building use or zoning laws and regulations. Taxes and assessments will be pro-rated to the closing date.<br>
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10. Additional Auction Information: All information published, announced or contained herein was derived from sources believed to be correct; however, it is not guaranteed by the seller or the auctioneers. Personal on-site inspection of all property is recommended. The failure of any bidder to inspect, or to be fully informed as to the condition of the property, will not constitute grounds for any claim or demand for adjustment or withdrawal of bid, offer or deposit money after its opening tender. This includes but is not limited to public information such as easements, restrictions, zoning, right-of-ways, or any other information that can be obtained as public record in the appropriate county court house concerning subject properties. <br>
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11. Technical Issues: In the event there are technical difficulties related to the server, software, internet or any other online auction-related technologies, Beckort Auctions, LLC reserves the right to extend bidding, continue the bidding or close the bidding. Neither the company providing the software, nor Beckort Auctions, LLC, shall be held responsible for the failure of the software to function properly for any reason.<br>
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REVISED 02/06/2014<br>
BECKORT AUCTIONS, LLC - 117 ½ E. CHESTNUT STREET - CORYDON, IN 47112 - 812-738-9476 - WWW.BECKORTAUCTIONS.COM