25+ Ac Washington Co (Pekin) Multi-Parcel Land Online Only Auction

25+ AC WASHINGTON CO MULTI-PARCEL LAND AUCTION

OFFERED IN 4 TRACTS · COMBO BIDDING

3800’+ FRONTAGE on S OLIVE BRANCH ROAD

IDEAL BUILD SITES · 2 CORNER LOTS · TILLABLE

2600+ SF 2-STORY FARMHOUSE · RENOVATION SPECIAL!

ONLINE ONLY · BIDDING ENDS NOV 4

Address: 3779 S Olive Branch Rd., Pekin, IN 47165

Location: Only 2.5 miles south of South Boston & 6 miles NE of New Pekin!

COMBINATION BIDDING WILL OPEN ON OCT 28!

A BIDDING CENTER WILL BE AVAILABLE ON NOV 4 (AUCTION END DAY) AT OUR OFFICE IN CORYDON BEGINNING AT 2 PM. PLEASE CALL AHEAD (812) 738-9476 FOR AN APPOINTMENT.

REAL ESTATE INFO: INVESTORS, BUILDERS, VISIONARIES - UNLOCK UNLIMITED POTENTIAL! Offered in 4 separate tracts with combination bidding available, this private country setting is only minutes from South Boston and New Pekin and provides ultimate flexibility to build, farm, or invest! Renovate the existing 1900’s farmhouse or, better yet, build your own dream home brand new! Boasting an unbelievable 3037’ frontage on the east side of Olive Branch Road & an additional 841’ on the west side, two prime corner lots, and 15 acres of tillable, level ground, numerous building and agricultural opportunities exist! Utilities are available at the road, along with a choice of ideal build sites. Additional bonus - Clark State Forest is approximately 2 miles away, boasting nearly 27,000 acres of public ground for hunting, fishing, hiking, horseback riding and other outdoor recreation. This property is ready for immediate revitalization, building, farming, livestock, or income generation! SET YOUR AMBITION TO WIN & BID NOW!

TRACT #1: Includes 3.1 +/- acres; 730’ +/- frontage on east side of Olive Branch Rd.; all open & tillable; corner lot; favorable site topography; & utilities available.

TRACT #2: Includes 4.69 +/- acres & 2-story 1900’s farmhouse (renovation special!), detached metal garage & barns; 841’ +/- frontage on west side of Olive Branch Rd.; open with some trees along boundaries & throughout yard; includes grain bin w/LP gas dryer (LP tank ownership-unknown); two water hydrants; & across the road from Tract #3. House features: 2620 +/- SF living area (1700’ +/- 1^st floor & 850’ +/- 2^nd floor); 1700’ SF crawl space; 3BR/1BA; & large wooden deck. Mechanicals: electric water heater; LP gas forced air furnace (LP tank-owned); no central A/C (one window A/C unit included); septic system (see Documents section for 2008 repair permit). The home needs significant repairs. The barns need significant repairs or removal. NOTE: Sells subject to grain bin storage lease through Oct 1, 2027. New buyer will receive $800 rental payment.

TRACT #3: Includes 5.32 +/- acres & pole barn; 612’ +/- frontage on east side of Olive Branch Rd.; mostly open w/sparse trees throughout; includes electric meter (service is currently turned off); includes water hydrant (meter is located on Tract 2-buyer will need to install separate meter unless Tracts 2 & 3 are purchased together); fenced with t-post & woven wire; recently used for horses/pasture; & across the road from Tract #2.

TRACT #4: Includes 12.62 +/- acres; 1695’ +/- frontage on east side of Olive Branch Rd.; all open & tillable; corner lot; favorable site topography; utilities available; & adjoins Tract #3.

UTILITIES: Electric-Jackson Co REMC; Public Water-East Washington Rural; Septic System on Tract 2 (see Documents section for copy of 2008 permit for repairs); Internet-FIOS available through Jackson Co REMC

OPEN HOUSE/INSPECTION: Tues Oct 27 12-1 PM (auction co rep will be onsite)

SURVEY: There is a current survey/auction plat available. See Documents section for details.

DIVISIBLE LOT: Upon conveyance to new buyer, lots may be further divisible, subject to county ordinance rules. See Documents section for Washington County Subdivision Ordinance. Call Surveyor’s office at 812-883-4604 for more details.

PROPERTY TOUR (includes INTERACTIVE MAP): Check out our new Property Tour below designed to guide you through key points of interest and information pertaining to the real estate. View a 3D spin of the property, topography, water features, soils, land use, utilities, nearby points of interest, & much more!

POSSESSION/CLOSING INFO: Possession at closing; buyer to pay all title/closing fees except deed prep.

ULTIMATE CHOICE BIDDING SYSTEM: The “Ultimate Choice” bidding system allows someone to bid on individual tracts or a combination of tracts throughout the auction. This auction system DOES NOT include a maximum bid feature; the price will increase to the bid amount that is entered for both individual tract bids and combination bids. Any posted bid is considered active and could be back in winning position any time during the auction due to different combinations being offered. Combination bidding will be allowed as of Noon on Oct 28. The final auction price will be determined by the combination which realizes the highest bid. If you have any questions about this system, please do not hesitate to contact our office to discuss.

FARM LEASE: Tracts 1, 2, & 4 sell subject to Fall Harvest rights to farmer, all proceeds to be paid to Seller. There is a separate storage lease agreement for the grain bin on Tract 2 through Oct 1, 2027. New buyer will receive $800 rental payment.

GAS/MINERAL RIGHTS: All oil and gas and/or mineral rights (if any) owned by the Sellers will be conveyed to the Purchaser(s) at closing.

SCHOOLS: This address is zoned for East Washington Elementary School, East Washington Middle School and Eastern High School. The property has 8 nearby schools spanning elementary, middle, and high grades, the closest about 2.7 miles away. Elementary through high school are all within a short drive — a real plus for families.

CURRENT PARENT PARCEL ID: 88-15-05-000-008.002-015

TAXES: Polk Township. Taxes are $1,101.32 per semi-annual installment. The current tax amount includes the entire 25+ acres and improvements, and is based on seller’s current assessments and tax deductions, if any. Taxes will be reassessed upon conveyance to new buyer.

DIRECTIONS: From Pekin, head north on IN-60 for 2.9 miles; then right (east) on E Motsinger Rd. for 3.2 miles; then left (north) at stop sign on Olive Branch Rd to site.

OWNER: Marcia Lanham

EXHIBIT A: TERMS & CONDITIONS:

PLEASE READ AND REVIEW THE TERMS THOROUGHLY PRIOR TO BIDDING.
IF YOU HAVE NOT READ AND UNDERSTAND THESE TERMS, PLEASE DO NOT BID. BY BIDDING ON THIS AUCTION, BUYER AGREES TO ALL TERMS AND CONDITIONS SET FORTH AND ENTERS INTO A CONTRACTUAL AGREEMENT TO PURCHASE THE ITEMS(S) UNDER THE FOLLOWING TERMS AND CONDITIONS:

ULTIMATE CHOICE BIDDING SYSTEM: The “Ultimate Choice” bidding system allows someone to bid on individual tracts or a combination of tracts throughout the auction. This auction system DOES NOT include a maximum bid feature; the price will increase to the bid amount that is entered for both individual tract bids or combination bids. Any posted bid is considered active and could be back in winning position any time during the auction due to different combinations being offered. Combination bidding will be allowed as of Noon on August 26. The final auction price will be determined by the combination which realizes the highest bid. If you have any questions about this system, please do not hesitate to contact our office to discuss.

NOTE: This auction features EXTENDED BIDDING! Any bid placed within TEN minutes of the scheduled closing time will cause the auction timer to reset for another TEN minutes. The auction will remain open until all bidding has stopped. ***If auction is extended past one hour, extension time will decrease to FIVE minutes. If auction is extended past two hours, extension time will decrease to THREE minutes.

Bid Increments:

Min Max Increment

$0.00 - $49,999 - $1000

$50,000 - $249,999 - $2500

$250,000 - $499,999 - $5000

$500,000 - $999,999 - $10,000

$1,000,000+ - $25,000

1. Conditions of Sale: This online only auction is selling subject to owner’s confirmation and is 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. 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.

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. 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. Buyer(s) shall pay all costs of closing with exception of deed preparation paid by Seller. Possession shall be given to the successful Buyer(s) at closing.

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.

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.

5. 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.
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.
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.

6. 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.

7. 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.

8. 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.

9. 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.

10. Bidder Verification: Bidding rights are provisional, and if identity verification is questionable, Beckort Auctions has the right to reject the registration, and bidding activity will be terminated. The Seller and Beckort Auctions reserve the right to preclude any person from bidding if there is any question as to the person’s credential as they are responsible for ANY and ALL activity involving their account. When using the web site you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges.

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.

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 BECKORT AUCTIONS AND THAT YOU, AS THE BIDDER, ARE PREPARED TO PURCHASE THE PROPERTY UNDER THE TERMS AND CONDITIONS OF THIS AUCTION.
REVISED 02/12/2019
BECKORT AUCTIONS, LLC - 1743 HIGHWAY 135 SW - CORYDON, IN 47112 - 812-738-9476 - WWW.BECKORTAUCTIONS.COM

25+ Ac Washington Co (Pekin) Multi-Parcel Land Online Only Auction

TRACT #1: 3.1 +/- ACRES - VACANT CORNER LOT - TILLABLE

TRACT #2: 3779 S OLIVE BRANCH RD., PEKIN - 4.69 +/- AC & 1900’s FARMHOUSE, DET GARAGE, & BARNS

TRACT #3: 5.32 +/- AC, POLE BARN, & FENCED

TRACT #4: 12.62 +/- AC - VACANT CORNER LOT - TILLABLE

25+ Ac Washington Co (Pekin) Multi-Parcel Land Online Only Auction

TRACT #1: 3.1 +/- ACRES - VACANT CORNER LOT - TILLABLE

TRACT #2: 3779 S OLIVE BRANCH RD., PEKIN - 4.69 +/- AC & 1900’s FARMHOUSE, DET GARAGE, & BARNS

TRACT #3: 5.32 +/- AC, POLE BARN, & FENCED

TRACT #4: 12.62 +/- AC - VACANT CORNER LOT - TILLABLE

Description

Terms

Contacts

Removal Times

Auction Preview