Major Absolute Indiana Land Auction - 2070± Acres in 32 Tracts

PLEASE READ AND REVIEW THE REAL ESTATE TERMS THOROUGHLY PRIOR TO BIDDING ON ANY PROPERTY. IF YOU HAVE NOT READ AND UNDERSTAND THESE TERMS, DO NOT BID. BY BIDDING ON THE PROPERTY, BUYER AGREES TO ALL TERMS AND CONDITIONS SET FORTH AND ENTERS INTO A CONTRACTUAL AGREEMENT TO PURCHASE THE PROPERTY UNDER THE FOLLOWING TERMS AND CONDITIONS:

PROCEDURE: The real estate will be offered in 32 individual tracts, combinations of tracts, and the entirety. Bids on individual tracts, combinations, and the entirety may compete. There will be open bidding during the auction as determined by the Auctioneer.  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.  Bidding is not conditional upon financing. Bidders should arrange for financing, if needed, and be capable of paying cash at closing.

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

ACCEPTANCE OF BID: Successful bidder will be required to sign a Bid Acknowledgement Agreement at the auction site immediately following the close of the auction. The real estate will be sold at Absolute Auction, regardless of price.

DEED: Buyer will be provided with a Sheriff’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 auction date.

POSSESSION: Buyers will receive possession to the properties upon execution of the Sheriff’s deed.

REAL ESTATE TAXES: The real estate taxes will be the responsibility of the buyer beginning MAY 2024, and thereafter.

ACREAGE: All tract acreages, dimensions, and proposed boundaries outlined on the auction plat and all advertising are approximate and are estimated based on current legal descriptions and/or aerial photos.  Purchaser should make his/her own independent determination of acreage prior to bidding.  

SURVEY: Any survey costs are the responsibility of the buyer.

EASEMENTS: Subject to any and all easements.

SWING TRACTS: One or more tracts may be identified as "Swing Tracts" in the auction description. These tracts may only be bid in combination with an adjoining tract or by an adjoining land owner.

DISCLAIMER AND ABSENCE OF WARRANTIES: The property to be offered pursuant to the Notice of Sale is being offered for sale, transfer and conveyance "AS IS, WHERE IS." Neither the Sheriff, William Wilson Auction & Realty, Inc. nor the holder of the notes secured by the mortgages being foreclosed, nor the officers, directors, attorneys, employees, agents or authorized representative of either the Sheriff, William Wilson Auction & Realty, Inc. or the holder of the notes make any representation, or warranty, either expressed or implied, relating to  the title or any physical, environmental, health or safety conditions existing in, on, at or relating to the property being offered for sale, and any and all responsibilities or liabilities arising out of or in any way relating to any such condition expressly are disclaimed. This property is being sold subject to all liens, encumbrances and easements not otherwise extinguished in the proceedings known as Cause No. 47C01-2201-MF-000117 in the Circuit Court of the County of Lawrence, Indiana. 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.

TENANCY DISCLAIMER: Properties identified as occupied may be occupied by one or more third parties.  It shall be the sole responsibility of the buyer prior to bidding or closing on the property to conduct his/her own investigation as to the occupancy of the property.  Prospective bidders shall not have any contact with current occupants of the property without seller’s written consent until after close and funding.  Buyer will assume the responsibility of all occupants and/or tenants and any expenses therewith, including, but not limited to, any security deposits or pre-paid rent.  Buyer shall defend, indemnify and hold harmless agents, auctioneers, attorneys, sellers and representatives from and against any claims, demands, actions or expenses arising out of any action concerning security deposits and for any eviction or unlawful detainer or other litigation arising out of occupancy, tenancy or lease of the property.

ONLINE BIDDING: AUCTION DATE / TIME: Bidding begins: May 25, 2023 @ 12 NOON (ET) (**See AUCTION END TIMES). 

UPON CONCLUSION OF THE AUCTION: The Winning Bidder will be sent a Bid Acknowledgment Form electronically and is required to fully and correctly complete and properly sign without any modifications. Bidder is to return the completed, signed  Bid Acknowledgment Form to William Wilson Auction Realty, Inc. via DocuSign. Along with the completed, signed Bid Acknowledgment Form,  the Winning Bidder will be required to send the specified non-refundable earnest money deposit as stated. This non-refundable earnest money deposit will be held in escrow until closing and that amount will then be credited to the Buyer as part of the purchase price of the property. Wire transfer instructions and escrow agreement forms will be provided to the Buyer along with the Bid Acknowledgment Form after the auction. Purchaser shall be responsible for all wire transfer fees. Successful bidders not executing and returning the completed Bid Acknowledgment Form and earnest money deposit by 4:00 PM the day after the auction will be considered in default. Such default by the Successful Bidder will result in that Bidder’s liability to both the Seller and William Wilson Auction Realty, Inc. Seller shall have the right to (a) declare this contractual agreement canceled and recover full damage for its breach, (b) to elect to affirm this contractual agreement and enforce its specific performance or (c) Seller can resell the property either publicly or privately with William Wilson Auction Realty, Inc. and in such an event, the Buyer shall be liable for payment of any deficiency realized from the second sale plus all costs, including, but not limited to the holding costs of the property, the expenses of both sales, legal and incidental damages of both the Seller and William Wilson Auction Realty, Inc. In addition, William Wilson Auction Realty, Inc. also reserves the right to recover any damages separately from the breach of the Buyer. Both the Successful Bidder and Seller shall indemnify William Wilson Auction Realty, Inc. for and hold harmless William Wilson Auction Realty, Inc. from any costs, losses, liabilities, or expenses, including attorney fees resulting from William Wilson Auction Realty, Inc. being named as a party to any legal action resulting from either Bidders or Sellers failure to fulfill any obligations and undertakings as set forth in this contractual agreement.

BIDDING AND REGISTRATION INFORMATION BIDDER VERIFICATION: Bidding rights are provisional, and if identity verification is questionable, William Wilson Auction Realty, Inc. has the right to reject the registration, and bidding activity will be terminated. The Seller and William Wilson Auction Realty, Inc. reserves the right to preclude any person from bidding if there is any question as to the person's credentials, mental fitness, etc. Bidders agree to keep their username and password confidential as they are responsible for ANY and ALL activity involving their account. If the registered bidder's user name is offensive to William Wilson Auction Realty, Inc. or in their sole opinion detrimental to Bidding Activity, then William Wilson Auction Realty, Inc. reserves the right to delete the bidder from bidding or unilaterally change the username with notification to the Bidder. When using the website you must obey any and all local, state, and federal laws. Violations will result in the termination of website use privileges.

**AUCTION END TIMES: William Wilson Auction Realty, Inc. land auctions are subject to extend until all bidding is complete. The bidding will extend until all the lots sit idle for a period of time which will be announced by the Auctioneer. Therefore, the auction will not close until all bidding parties are satisfied and no one can be outbid at the last second without having another opportunity to bid again. All decisions of the Auctioneer are final.

TECHNICAL ISSUES: In the event, there are technical difficulties related to the server, software, internet, or any other online auction-related technologies, William Wilson Auction Realty, Inc. reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor William Wilson Auction Realty, Inc. shall be held responsible for a missed bid or the failure of the software to function properly for any reason.

CONDUCT OF THE AUCTION: The minimum bid increase will be indicated on the bidding application. William Wilson Auction Realty, Inc. reserves the right to reject any and all bids for any reason and also reserves the right to cancel this auction, or remove any item or lot from this auction prior to the close of bidding. All decisions of William Wilson Auction Realty, Inc. are final. YOUR BID ON THIS AUCTION INDICATES BOTH AN UNDERSTANDING AND AN ACCEPTANCE OF THE TERMS OF THIS CONTRACTUAL AGREEMENT BETWEEN YOURSELF AND BOTH THE SELLER AND William Wilson Auction Realty, Inc. AND THAT YOU, AS THE BIDDER, ARE PREPARED TO PURCHASE THE PROPERTY UNDER THE TERMS AND CONDITIONS OF THIS AUCTION.

Additionally, per Indiana Statute bidders acknowledge the following:

Indiana law prohibits a person who owes delinquent taxes, special assessments, penalties, interest, or costs directly attributable to real property under IC 6-1.1 from bidding on or purchasing property at a sheriff's sale. I hereby affirm under the penalties for perjury that I am not prohibited from bidding under IC 32-29-7-4.5 and that I do not owe delinquent taxes, special assessments, penalties, interest, costs directly attributable to real property under IC 6-1.1, amounts from a final adjudication in favor of a political subdivision, any civil penalties imposed for the violation of a building code or county ordinance, or any civil penalties imposed by a county health department. I also affirm that I am not purchasing property on behalf of or as an agent for a person who is prohibited from bidding under IC 32-29-7-4.5. I further acknowledge that a person who knowingly or intentionally provides false information on this affidavit commits perjury, a Level 6 felony.