Don E. Cain Estate
MAJOR LAND AUCTION - 1,155 +/- ACRES
PROCEDURE: The property will be offered in 16 individual tracts, and in combinations, and all the parcels as a whole. There will be opening bidding on the individual tracts, combinations, and the entire unit as determined by the auctioneer.
DOWN PAYMENT: 10% down payment on the day of auction. The down payment must be by personal check, corporate check, or cashier’s check. BIDDING IS NOT CONDITIONAL UPON FINANCING. You must have your financing arranged and be capable of paying cash at closing.
ACCEPTANCE OF BIDS: Any and all successful bidders will be required to enter into a Real Estate Purchase Contract with the owner, and separately both the Executor and the Ancillary Administrator of the Don E. Cain Estate, immediately following the sale on site. All final bids are subject to acceptance or rejection by such Executor and Ancillary Administrator in their sole discretion.
EVIDENCE OF TITLE: The Seller will provide a preliminary title opinion, certificate, or report to be made available to prospective bidders for review prior to bidding. If any Purchaser elects to purchase title insurance, the cost thereof will be at Purchaser’s sole expense. Seller will convey title free and clear of liens, but otherwise subject to all easements and matters of record. All tracts are being sold “AS IS”.
DEED: Seller shall provide a fiduciary deed.
CLOSING: The balance of the purchase price is due at closing, which will take place on or before June 30th, 2021.
POSSESSION: Possession will be given after 2021 harvest.
RENT: All farms are currently rented for the 2021 crop year. Purchaser shall receive 2nd half of rent, due December 15th, 2021. Allen County farms are rented for $250 per acre. Auglaize County Farms, including 147+/- acres on St. Rt. 385 are rented for $275 per acre. Hardin County farms, including 91+/- acres and 261 +/- acres are rented for $285 per acre. Rent values are for the full year.
REAL ESTATE TAXES: Taxes will be prorated to the date of closing. Property is currently in CAUV. If Purchaser converts property to a non-agricultural use, Purchaser will be responsible for the payment of any CAUV recoupment taxes. New taxes will be established due to creation of new parcels.
PROPERTY INSPECTION: Potential Purchasers are responsible for conducting their own inspection of the property and any due diligence, inquiries, and inspections will be conducted at their own risk. Seller disclaims any and all responsibility for the bidder’s safety during any physical inspection of the property.
TRACT MAP/ACREAGE: All dimensions, proposed boundaries, and tract acreages are approximate and are based on aerial photos and auditor information. Final surveyed acreages are subject to change by date of sale.
MINERAL RIGHTS: Parcel # 38-1600-04-002.001 86.54 Acres has an older oil and gas lease. The 147.739- acre tract on St. Rt. 385 shows 50% of the mineral rights are owned by the Prospect Company. The 261.489 acres in Hardin County on Twp. Rd 79 shows an older wind lease. Please see title opinions for further information.
SURVEY: The Seller will provide a new survey and legal description where new parcels are created by the auction.
AGENCY: Oakridge Realty & Auction Company and its representatives are sole 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 in the Real Estate Purchase Contract. The properties are 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 the Auction Company. All sketches and dimensions in this brochure are approximate. 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 subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or Auction Company.
ANY ANNOUNCEMENTS MADE DAY OF SALE TAKE PRECEDENCE OVER PRINTED MATERIAL.
Auctioneer: Kevin Miller (567-712-0911) Licensed & Bonded in favor of State of Ohio.
Executor: Derek Cain
Ancillary Administrator: James L. Thieman
Attorney for Estate of Don E. Cain: Ralph F. Keister, Faulkner, Garmhausen, Keister & Shenk, A Legal Professional Association, Courtview Center – Suite 300, 100 S. Main Avenue, Sidney, Ohio 45365