Good productive farm in the Veedersburg area and is selling in five sperate tracts. This farm offers opportunities for a variety of enterprises. Tracts one and two are highly productive, adapted to intensive row crop production. Both tracts were pattern tiled in the fall of 2019. The main outlets is a new 18-inch and 24-inch corrugated plastic line, beginning at tracts one and two and continuing southwest to an open ditch. Tract three lends itself to highly productive wildlife management, with a lucrative CRP pollinator contract through 2027 on the field which supports excellent habitat for deer, turkeys, and recreational use. If needed to accommodate the buyer, a 30-foot-wide easement will be allocated along the south boundary line to access the fields. Buyer agrees to comply with the CRP contract through end of term. Tract four is good productive farmland improved with farmable terraces and utilizing CRP field borders to control erosion and improve water quality. Buyer agrees to comply with the CRP contract through end of term. Tract five is good productive farmland with sand and gravel potential underlying the topsoil. CRP field borders are also present for erosion and water quality. Buyer agrees to comply with the CRP contract through end of term. An easement will be provided if necessary, to allow legal access to the west side of tract 5. Timberland is on tracts three through five. There is quality timber that has not been harvested and has not had livestock grazing. It affords substantial income opportunities to enhance the timber quality and complete timber stand improvement practices. Method of Sale: This farm will be sold through an online auction, selling each tract individually without combination. Buyers may bid on any individual tract, with the high bidder being the ultimate buyer for each tract. A Trustee’s deed and title policy will be provided to the successful bidder. A survey will be done to ensure that good merchantable title can be transferred to buyer of tract three thru five should the tracts sell separate form the whole.
Procedure: The property will be offered as five tracts in a virtual online auction format. Bidding and livestream viewing will be available at hiattland.bidwrangler.com. Bidding will be on a dollars per acre basis and the final purchase price will be determined by multiplying the high bid by the estimated acres. All acres contained in each tract will be subject to a survey if needed to provide sufficient description for transferring title of the property to buyer(s). If required for sufficient description survey will be provided by the seller. Final purchase price will be adjusted according to the surveyed acres time the per acre bid at the auction.
Registration: All bidders are required to register at hiattland.bidwrangler.com no later than April 1, 2024, 12:00pm EST. Once the online registration form is filled out, it will be automatically sent to R. Hiatt Enterprises for approval to allow bidding. Auction company may request a letter of recommendation from prospective bidder’s financial institution stating funds are available for the 10% deposit and that bidder has the financial capacity for final purchase.
Acceptance of Bid Prices: The successful high bidder will enter into a Contract to Purchase immediately following the close of bidding for presentation to the Seller. Final bid price is subject to approval or rejection by the Seller. Upon the close of the auction the winning bidder will either sign the Contract to Purchase in DocuSign or be forwarded via email a contract to purchase. A signed copy of the contract must be returned and received by R Hiatt Enterprises on or before 12:00 o'clock. P.M. EST, Friday April 5, 2024 hand delivered or scanned and emailed to Russ@hiattland.com.
Down Payment: A 10% non-refundable down payment of the total contract purchase price will be due within 24 hours of signing the purchase contract. The down payment may be paid in the form of a wire transfer, personal check, business check or cashier's check. Should the winning bidder not be approved by the Seller, the down payment shall be returned to the bidder as soon as practicable. Payment shall be made to the escrow agent, Douglas and Nelson, 328 4th St., Covington, IN 47932. The balance of the contract purchase price is due in cash at closing. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING.
Closing: The closing shall take place on or before May 2, 2024
Possession: Possession will be given at closing Lease for 2024 is open. Successful bidder will be given the opportunity to conduct farming practices necessary for planting immediately after a fully executed purchase contract is complete. However, bidder understands that there is no obligation of the seller to reimburse the bidder for expenses incurred in farming practices should the sale not close due to no fault of the seller.
Title: Seller will provide a proper deed conveying merchantable title to the real estate to the successful buyer free and clear of liens as well as title policy for the amount of the purchase price.
Real estate taxes and assessment: The 2023 calendar year taxes due and payable in 2024 will be paid by the Seller. Real estate taxes are currently for a larger tract of which may need to be divided if tracts sell to different buyers. A division of the parcel will be completed by the assessor once title has transferred to the buyer where upon the tax liability will be determined for 2024's taxes payable in 2025. A credit will be given to the buyer for 2023 based on the determined land tax per acre for the unimproved property.
Survey: A survey of the farm will be completed if necessary to legally describe the property sufficient for transferring title of the property to the buyer. If a survey is not completed by the time of the auction the acres will be estimated with adjustment to purchase price made upon completion of the survey. The surveyed acres shall be used to determine the final selling price based on the buyer's per acre bid price times the number of acres determined by the survey.
Mineral rights: The sale shall include any and all mineral rights currently owned by the seller, if any.
Acreages: Tract 1 & 2 are based on deeded acres. Tracts 3-5 acreages are approximate and have been estimated. Tract 1 – 50.00 ac; Tract 2 – 68.92 ac; Tract 3 - 80ac, Tract 4 – 234.87 ac, Tract 5 81.50 ac.
Easements and leases: The sale is subject to any and all easements.
Disclaimer: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the agreement to purchase. 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 R. Hiatt Enterprises. 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 this 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 or R. Hiatt Enterprises. 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 final round of bidding and increments of bidding are at the discretion and direction of the seller's agent. The seller and R. Hiatt Enterprises reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. Under no circumstances shall bidder have any kind of claim against R. Hiatt Enterprises or anyone else if the Internet service fails to work correctly before or during the auction.
Agency: R.Hiatt Enterprises and its representatives are exclusive agents of the seller.
Seller: Norma Hilleary Trust Russell L. Hiatt, Trustee
