UNION COUNTY LAND AUCTION

Description

Update:  Property sold for $915,000 & is scheduled to close by July 1st

148 ACRES

SELLING IN ONE TRACT

PRODUCTIVE FARMLAND

SYSTEMATIC TILING

SELLS WEDNESDAY, MAY 29 AT 4:00 pm

Join us for this great opportunity to purchase prime farmland in Union County, Ohio.  Located just east of Marysville and 15 minutes NW of Dublin.

This property features 103 tillable acres with systematic tiling installed in 2014 (see aerial tiling map in Bidder Packet). The property also features 40 wooded acres and stream frontage along the scenic Mill Creek. Great investment opportunity to add to your existing acreage or to purchase as your private get-away.

Auction representatives will be available at the property on Tuesday, May 21st from 4:00 to 5:30 pm (or by appointment) to meet you and answer questions.

Join us at the Union County Fairgrounds (Armory Bldg) on Wednesday, May 29 at 4:00 pm for this great opportunity to purchase prime farmland in Central Ohio.  Download or call our office for a free Bidder Packet for full details on this property.

Sheridan & Associates is a leader in the sale of rural and agricultural land throughout Ohio.  Call us to schedule a no-fee consultation to discuss your buying and selling needs.

Real Estate Terms

Bidding Procedure:  The property will sell to the highest bidder, subject to confirmation of the Seller.

Acceptance of Bid Prices:  The successful bidder will sign a Confirmation of Sale Agreement at the auction site immediately following the close of bidding.  Bidding IS NOT CONDITIONAL UPON FINANCING.

Downpayment:  $30,000 as down payment will be deposited with the Auction Company on the date of auction upon signing of Confirmation of Sale Agreement; balance due at closing.  

Real Estate Taxes:  Taxes will be prorated to date of closing using long proration method. Purchaser will be responsible for CAUV recoupment due to change in land use, if applicable.

Closing Date:  On or before July 1, 2019.  Purchaser will pay customary portion of closing costs at closing. Closing(s) will be conducted by title company of Seller’s choice.

Current Agricultural Use Valuation (CAUV): The property is currently enrolled in the State of Ohio’s CAUV program. If Purchaser fails to re-enroll the property annually in the CAUV program or if Purchaser changes the use of the property from agriculture to any other non-agriculture use, Purchase shall be solely responsible for any resultant CAUV recoupment charges.

Possession:  Date of closing with no tenant rights reserved for 2019. The Purchaser will retain all farming rights for 2019.  Purchaser may take possession of tillable acreage prior to closing for sole purpose of preparing fields for 2019 crops by remitting an additional $10,000 non-refundable earnest money deposit upon signing of Confirmation of Sale Agreement. By electing to take possession according to these terms, Purchaser will agree that the performance of any work and application of inputs will be at the Purchaser’s sole risk and that Purchaser will not be compensated for such costs if Purchaser fails to close on the transaction according to the terms of the contract.

Easement & Survey:  The parcel contains an electrical line easement through the property. Property will require a new boundary survey on the next transfer.

Agency:  Sheridan & Associates, Auctioneers, Real Estate Broker, Appraisers, LLC and its representatives are Exclusive Sales Agents for the Seller.

Disclaimer & Absence of Warranties:  All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Confirmation of Sale Agreement.  Announcements made by the Auctioneer at the time of the Auction will take precedence over any previously printed or oral information.  The property is sold on an "AS IS, WHERE IS" basis, and no warranties or representations, either expressed or implied, concerning the property are made by the Seller or the Auction Company.  Each bidder is responsible for conducting his/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.  Neither the Seller nor the Auction Company assumes liability for its accuracy, errors, or omissions.  Conduct at the auction and increments of bidding are at the direction and discretion of the Auctioneer.  The Seller and the Auction Company reserve the right to preclude any person from bidding if there is any question as to the person's credentials, fitness, legal capacity, etc.  All decisions of the Auctioneer are final.

Terms

Real Estate Terms

Bidding Procedure:  The property will sell to the highest bidder, subject to confirmation of the Seller.

Acceptance of Bid Prices:  The successful bidder will sign a Confirmation of Sale Agreement at the auction site immediately following the close of bidding.  Bidding IS NOT CONDITIONAL UPON FINANCING.

Downpayment:  $30,000 as down payment will be deposited with the Auction Company on the date of auction upon signing of Confirmation of Sale Agreement; balance due at closing.  

Real Estate Taxes:  Taxes will be prorated to date of closing using long proration method. Purchaser will be responsible for CAUV recoupment due to change in land use, if applicable.

Closing Date:  On or before July 1, 2019.  Purchaser will pay customary portion of closing costs at closing. Closing(s) will be conducted by title company of Seller’s choice.

Possession:  Date of closing with no tenant rights reserved for 2019. The Purchaser will retain all farming rights for 2019.  Purchaser may take possession of tillable acreage prior to closing for sole purpose of preparing fields for 2019 crops by remitting an additional $10,000 non-refundable earnest money deposit upon signing of Confirmation of Sale Agreement. By electing to take possession according to these terms, Purchaser will agree that the performance of any work and application of inputs will be at the Purchaser’s sole risk and that Purchaser will not be compensated for such costs if Purchaser fails to close on the transaction according to the terms of the contract.

Easement & Survey:  The parcel contains an electrical line easement through the property. Property will require a new boundary survey on the next transfer.

Agency:  Sheridan & Associates, Auctioneers, Real Estate Broker, Appraisers, LLC and its representatives are Exclusive Sales Agents for the Seller.

Disclaimer & Absence of Warranties:  All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Confirmation of Sale Agreement.  Announcements made by the Auctioneer at the time of the Auction will take precedence over any previously printed or oral information.  The property is sold on an "AS IS, WHERE IS" basis, and no warranties or representations, either expressed or implied, concerning the property are made by the Seller or the Auction Company.  Each bidder is responsible for conducting his/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.  Neither the Seller nor the Auction Company assumes liability for its accuracy, errors, or omissions.  Conduct at the auction and increments of bidding are at the direction and discretion of the Auctioneer.  The Seller and the Auction Company reserve the right to preclude any person from bidding if there is any question as to the person's credentials, fitness, legal capacity, etc.  All decisions of the Auctioneer are final.