FOUR FAMILY INVESTMENT PROPERTY VERSAILLES, INDIANA 748, 738, 736 & 75 West Street Versailles, Indiana FOR MORE INFORMATION CONTACT PENNY WORLEY CELL - 513.31.2596 OR PENNY@WORLEYAUCTIONS.COM Seller: Meeker Estate Jimmie Dean Coffey 812-824-6 Lic. #AC3242/AU149934 www.inpropertyauction.com
EXECUTIVE SUMMARY Table of Contents Executive Summary Executive Summary Table of Contents Property Description... 3 Terms & Conditions... 4 State Map... 6 Local Map... 7 Additional Information Assesor s Card... 8 Tax Information... 1 Contract... 12 Auction Advantages... 15 The information contained herein has been obtained from other third party sources. We have not verified its accuracy. Seller and United Country Coffey Realty & Auction make no guarantee, representation, or warranty whatsoever concerning any of the materials or information contained herein. It is the sole responsibility of anyone reviewing this material to evaluate the accuracy, completeness, and usefulness of all information contained herein. The Seller and United Country Coffey Realty & Auction make no express or implied warranties, representations, or endorsements whatsoever concerning the material presented or the proposed transaction referenced in herein, including without limitation any warranties of title, non-infringement, merchantability, or fitness for a particular purpose, and Seller and United Country Coffey Realty & Auction shall in no event be liable for any damages whatsoever resulting from the use of or reliance on any information contained herein.
EXECUTIVE SUMMARY Property Description 4 FAMILY INVESTMENT PROPERTY VERSAILLES, INDIANA Bid now through June 24, 214 2:pm EST (soft close) DESCRIPTION: Four-Family Rental Property. All Brick Construction with Newer Roof. Featuring Two 2-Story, 2-Bedroom Units with Bonus Room and Two Single Story 2-Bedroom Units with Laundry Room. Each Unit Is Equipped with Separate Utilities. Each Unit has a Deck with Ground Level Entry. Large Backyard with Exterior Storage. ADDRESS: 748 West Street, Versailles IN 4742 OCCUPANCY: The two single-story units are tenant-occupied. - INVESTMENT REAL ESTATE - VERSAILLES, INDIANA - NEAR LAWRENCEBURG, INDIANA - AUCTION
EXECUTIVE SUMMARY Terms & Conditions TERMS & CONDITIONS Ray H Meeker II Estate - Real Estate Auction 748, 738, 736 & 75 West St. - Versailles, IN 4742 Ripley County Johnson Township Legal Description JP Homes Lot 21 Sec 12-7N-11E The property will be sold at Public Online Only - Internet Auction ending Tuesday June 24, 214 at 2:pm (soft close) The property will be Sold Subject to Seller s Confirmation. The seller reserves the right to reject any and all bids. Property sells as-is with no warranties expressed or implied Property included in the sale is the real estate only. The auction is Subject to prior sale (the property can be purchased prior to the end of the auction) The seller reserves the right to cancel the auction at any time prior to the final bid closing Buyers Premium o A 1% buyer s premium will be added to the final bid and charged to the buyer, the final bid plus the 1% buyer s premium will establish the final sales price. A $15,. Down payment must be paid by the successful bidder by direct wire transfer within 24 hours of acceptance of the auction contract by the Sellers payable to Dearborn Title Insurance. The down payment deposit will be non-refundable; your bidding is not conditional upon financing, so be sure you are prepared to pay cash at closing or have arranged your financing prior to bidding. The balance of the purchase price including the buyer s premium will be due via a wire transfer to the closing company, on delivery of insurable title on or before July 24, 214. o A promissory note will be signed along with the down payment. Final closing is NOT contingent upon financing. The property will be conveyed by a Personal Representatives Deed The seller agrees to furnish buyer(s) with a preliminary title search. Title insurance if needed will be at the Buyer s expense Real Estate Taxes: the taxes will be prorated to the day of closing. Closing: o Closing shall take place at the office of: Dearborn Title Insurance 21 W. High Street, Lawrenceburg IN o Closing fee will be paid by the buyer. o Closing will be held on or before 2:pm EDT July 24, 214 Possession will be granted at final closing Subject to Tenants rights. The successful Bidder shall execute a Real Estate Auction Sales Contract for the property immediately after being declared the Successful Bidder by the Auctioneer. Each potential Bidder is responsible for conducting at their own risk, their own independent inspections, investigations, and due diligence concerning the property. o Further; Property sells as-is with no warranties expressed or implied United Country Coffey Realty & Auction along with Penny Worley Auctioneers and their representatives are exclusive agents of the Seller. Seller: Ray H. Meeker II Estate All announcements made up to the final close of the Auction bidding take precedence over all advertising, oral or printed material.
EXECUTIVE SUMMARY Terms & Conditions All marketing information was gathered from reliable sources and is believed to be correct as of the date it was published; however the seller or auctioneers have not independently verified this information. Auction plats and drawings are not to be relied on and are for representation purposes only. Its accuracy is not warranted in any way. There is no obligation on the part of the sellers or auctioneer to update this information. SALE SITE: Internet Only VIEWING INSTRUCTIONS: Monday, May 19 th & Tuesday, June 17 th from 4:pm 6:pm The viewing of the property will be at the viewer s own risk the Seller, neither Auctioneer nor the Listing Agency be held responsible for accidents. For questions call Jimmie Dean Coffey at United Country Coffey Realty & Auction (812) 824-6 office (812) 36-65 cell. I do hereby agree to these Auction Terms & Conditions. Buyer Buyer
EXECUTIVE SUMMARY State Map Versailles
EXECUTIVE SUMMARY Map
ADDITIONAL INFORMATION Assessor s Card 69-13-12-332-24.-14 Meeker, Ray H 748 W STREET 41, 4 to 19 Family Apartments Comm & Industrial/47939-1/2 General Information Parcel Number 69-13-12-332-24.-14 Local Parcel Number 21465 Tax ID: Routing Number 17 Property Class 41 4 to 19 Family Apartments Year: 214 Location Information County Ripley Township JOHNSON TOWNSHIP District 14 (Local 21) VERSAILLES TOWN School Corp 6865 SOUTH RIPLEY COMMUNITY Neighborhood 47939-14 Comm & Industrial Section/Plat Location Address (1) 748 W STREET VERSAILLES, 4742 Zoning Subdivision Lot AAMH Park N/A Characteristics Topography Level Public Utilities All Streets or Roads Paved, Sidewalk Neighborhood Life Cycle Stage Other Printed Friday, May 16, 214 Ownership Meeker, Ray H 748 West St Versailles, IN 4742 J P HOMES LOT 21 Legal 8/28/26 8/28/26 1/23/21 9/11/1998 4/9/1997 1/1/19 Owner Meeker, Ray H ROSENBERGER, WADE BUSTLE, DARRELL G. & D LAWSON, BUCKNER & AP STENGER, RALPH A. & D HARDEBECK, MARK D & Transfer of Ownership Doc ID Code WD QC WD WD WD WD Book/Page 26/417 26/4168 21/332 212/72 29/281 Sale Price $63,5 Notes 11/1/212 INFO: 212 PAY 213 REASSESSMENT 1-12-11 ADDED 2WDDK 2 MSTP CHANGE GRADE & COND OF DWELL CHANGE CONC TO WDDK AND CHANGED SIZE 4/27/21 INFO: 1-23-1 $88,. 4-27-1 CORRECTED NEIGHBORHOOD NUMBER FOR 21 PAY 211 7/14/29 INFO: ADDED 2 UTL SHEDS BOTH 9x15. 7/14/9 Commercial Valuation Records (Work In Progress values are not certified values and are subject to change) 214 Assessment Year 213 212 211 21 29 WIP Reason For Change AA GenReval Misc Misc Misc 3/3/214 As Of 7/1/213 3/1/212 3/1/211 3/1/21 3/1/29 Indiana Cost Mod Valuation Method Indiana Cost Mod Indiana Cost Mod Indiana Cost Mod Indiana Cost Mod Indiana Cost Mod 1. Equalization Factor 1. 1. 1. 1. 1. Notice Required $17,6 Land $17,6 $17,6 $17,6 $17,6 $19,6 Land Res (1) $17,6 $8,82 $8,82 $9,8 $17,6 Land Non Res (2) $17,64 Land Non Res (3) $8,82 $8,82 $9,8 $74, Improvement $75,8 $77,2 $54,7 $54,7 $54,7 Imp Res (1) $16,3 $16,3 $16,3 $7,8 Imp Non Res (2) $72,4 $71,8 $3,2 Imp Non Res (3) $3,4 $5,4 $38,4 $38,4 $38,4 $91,6 Total $93,4 $94,8 $72,3 $72,3 $74,3 Total Res (1) $17,6 $25,12 $25,12 $26,1 $88,4 Total Non Res (2) $72,4 $89,44 Land Computations $3,2 Total Non Res (3) $3,4 $5,4 $47,22 $47,22 $48,2.34 Land Data (Standard Depth: Res 15', CI 15') Land Pricing Soil Act Adj. Ext. Res Market Size Factor Rate Infl. % Type Method ID Front. Rate Value Elig % Factor Value F OF 14 14x15 1. $126 $126 $17,64 % % 1. $17,64 Data Source N/A Collector Appraiser Calculated Acreage Actual Frontage 14 Developer Discount Parcel Acreage. 81 Legal Drain NV 82 Public Roads NV 83 UT Towers NV 9 Homesite 91/92 Acres Total Acres Farmland Farmland Value Measured Acreage Avg Farmland Value/Acre Value of Farmland Classified Total Farm / Classifed Value Homesite(s) Value 91/92 Value Supp. Page Land Value CAP 1 Value CAP 2 Value CAP 3 Value Total Value.... $17,6 $17,6 /
ADDITIONAL INFORMATION Assessor s Card 69-13-12-332-24.-14 Meeker, Ray H 748 W STREET 41, 4 to 19 Family Apartments Comm & Industrial/47939-2/2 Occupancy Description Story Height Wall Type Heating A/C Sprinkler Full Bath Half Bath Kitchen Sinks Water Heaters Add Fixtures Total 2 C/I Building C/I Building C 1 SB Plumbing RES/CI # # General Information TF Pre. Use Apartment Pre. Framing Wood Joist Pre. Finish Finished Divided TF B Exterior Features Built Up Wood Other 1 2(258') 245 sqft Roofing Tile Asphalt U 2(82') 95 sqft GCK Adjustments Metal Slate Low Prof Ext Sheat Insulatio SteelGP AluSR Int Liner HGSR PPS Sand Pnl Description Area Value Stoop, Masonry 2 $1,3 Stoop, Masonry 2 $1,3 Wood Deck 276 $4,1 Wood Deck 12 $2,3 Wood Deck 12 $2,3 Special Features Other Plumbing Description Value Description Value Building Computations Sub-Total (all floors) $269,215 Garages Racquetball/Squash Fireplaces Theater Balcony Sub-Total (building) Plumbing Quality (Grade) Other Plumbing Location Multiplier Special Features Repl. Cost New Exterior Features $11,3 $28,515 $266,49.91 $242,55 Pricing Key Use Use Area Area Not in Use Use % Eff Perimeter PAR # of Units / AC Avg Unit size Floor Wall Height Base Rate Frame Adj Wall Height Adj Dock Floor Roof Deck Adj Base Rate BPA Factor Sub Total (rate) Interior Finish Partitions Heating A/C Sprinkler Lighting Unit Finish GCK Adj. S.F. Price Sub-Total Unit Cost Elevated Floor Total (Use) Floor/Use Computations GCR GCR APART APART 245 sqft 95 sqft sqft sqft 1.% 1.% 258' 82' 11 / N 1 9' $88.91.... $88.91 1. $88.91........ $88.91.. $217,83 9 / N 9' $54.9.... $54.9 1. $54.9........ $54.9.. $51,386 2 Description 1: C/I Building C 1 2: Utility Shed C 1 3: Utility Shed C 1 Res Eligibl % % % Story Height 1 1 1 Year Construction Grade Built Brick C-1 1941 C C 28 28 Eff Year 1941 28 28 Eff Age 73 6 6 Co nd A A A Summary of Improvements Base Adj Improv LCM Size RCN Norm Remain. Abn PC Nbhd Mrkt Rate Rate Dep Value Obs Value.91 $242,55 8% $48,5 % 1% 1. 1.46 $7,8 $17.37.91 $17.37 9'x15' $2,134 2% $1,71 % 1% 1..95 $1,6 $17.37.91 $17.37 9'x15' $2,134 2% $1,71 % 1% 1..95 $1,6 $74, $74, Total all pages Total this page
ADDITIONAL INFORMATION Tax Information 5/7/14, 1:7 PM Type notes here Printed 5/7/214 The purpose of this map is to display the geographic location of a variety of data sources frequently updated from local government and other agencies. Neither WTH Technology nor the agencies providing this data make any warranty concerning its accuracy or merchantability. And no part of it should be used as a legal description or document. http://ripley.in.wthgis.com/tgis/printpreview1.ashx?soid=14571362849 Page 1 of 2
ADDITIONAL INFORMATION Tax Information 5/7/14, 1:7 PM Co 69 Area 13 Sec 12 Block 332 Parcel 24 Split Dist 14 Tax 21-1465- Number Present Meeker, Ray H Owner Mailing 748 West Street Address Town Versailles, IN 4742 Address Meas. Area (acres) Deed Acres Tax Acreage Road none Frontage Location Sec 12-7N-11E Deed Type Deed Book 26 Deed Page 417 of 8/28/26 8:52:45 AM Deed Previous Rosenberger, Wade M & Tracy Jo Owner Recorded Survey of Survey Name of Surveyor Owner of Survey Subdivision J P Homes Name Lot 21 Number Deed J P Homes Lot 21 Description Chain of Title Block No Township 18137parcels.tml 8/28/6 To Rosenberger, Wade M & Tracy Jo from Darrell & Dawn Buslte 26-4168 1/23/1 TO Darrell & Dawn Buslte from Buckner & April Lawson 21-332 ( not what he bought) 9/11/98 To Buckner & April Lawson from Ralph & Donna Stenger 212-72 4/9/97 To Ralph & Donna Stenger Bk 29-281 11/1/84 To Ruth Orschell 175- PG 324 Yes Johnson - Versailles http://ripley.in.wthgis.com/tgis/printpreview1.ashx?soid=14571362849 Page 2 of 2
ADDITIONAL INFORMATION Contract REAL ESTATE AUCTION PURCHASE CONTRACT This Contract of sale made and entered this 24 th day of June 214, by and between Ray H. Meeker II, Estate hereinafter called the Seller(s) and hereinafter called the Buyer(s): The Buyer hereby agrees to purchase, the Seller hereby agrees to sell this property in As is condition (except conditions stated in statement of sale and Terms & Conditions) Located at and commonly known as: 748, 738, 736 & 75 West Street in the City of Versailles, County of Ripley, and State of Indiana. Legally described as: JP Homes Lot 21 Sec 12-7N-11E Buyer herewith agrees to deposit with Dearborn Title Insurance, $ 15,. dollars, as nonrefundable earnest money deposit, and the balance of the purchase price will be due on delivery of clear title. Seller(s) agrees to furnish a Personal Representatives Deed with insurable title. Free from all encumbrances, and a Preliminary title search. If the seller is unable to convey clear and marketable title the buyer s down payment can be refunded. Buyer choses to purchase an Owner Policy of Title Insurance at the buyer s expense Real Estate Taxes: Will be pro-rated to date of closing. Closing shall take place on or before July 24, 214 2:PM EDT and shall take place at the office of Dearborn Title located at 21 West High Street, Lawrenceburg, IN 4725. The buyer will pay the closing fee. Possession is to be given day of final closing. Buyer agrees to pay all cost of obtaining a loan to include preparing and recording Deed & note, Title Opinion if desired. Title is to be conveyed subject to all restrictions, easement and covenants of record, subject to zoning ordinance or laws of any governmental authority. These premises are to be in the same condition as they are as of the date of this contract, ordinary wear and tear excepted. Seller is expected to bear risk of loss through the date of deed. In the event the premises are wholly or partially destroyed before the consummation of the transaction or delivery of the final papers, the Buyer shall elect or choose whether or not he will go through with the transactions, and in the event he chooses to go through with it, all insurance damages collectible as a result of the damage or destruction shall be assigned to him, the Buyer. If he chooses not to go through with the transaction, any earnest money held in escrow will be refunded in full. 6391 S. Old SR 37, Bloomington, IN (812) 824-6 phone UnitedCountryIN.com
ADDITIONAL INFORMATION Contract Time being of the essence of this agreement, if the Buyer shall fail or refuse to perform this agreement of Buyer s part, and the Seller shall be ready and willing to perform, the Seller shall be entitled to retain the entire down payment / earnest money as liquidated damages for the breach of this agreement. All successful bidders will be required to sign a note for the deposit amount. Note shall become null and void when undersigned shall complete all requirements for closing as set out in this contract. Per the terms & conditions as contained herein and announced in statement of sale, the property sells as shown below. This contract is subject to clearance of any check presented to United Country, Coffey Realty & Auction payable to JDC Group, Inc. and or the Title Company. High Bid Selling Price $. Plus 1% Buyer s Premium $. Less Down Payment $ Total Purchase Price $. Total Due at Closing $. This offer will expire if not accepted on or before: June 25, 214 at 5:pm Purchased By: Buyer Phone Printed Buyer Address: City State Zip Buyer Phone Printed Buyer Address: City State Zip Buyer s Agent Phone Printed Agent Address: City State Zip Names for Deed: Accepted By: Seller Ray H. Meeker II Estate Printed Seller Printed 6391 S. Old SR 37, Bloomington, IN (812) 824-6 phone UnitedCountryIN.com Time:
ADDITIONAL INFORMATION Contract PROMISSORY NOTE 748, 738, 736 & 75 West St., Johnson Township Ripley County, Versailles IN, 4742 $ 15,. June 24, 214 Amount FOR VALUE RECEIVED, the undersigned promises to pay by wire transfer to the Order of: Dearborn Title Insurance 21 W. High Street Lawrenceburg, IN The Sum of Fifteen Thousand -------- dollars ($15,. ), as a deposit for the purchase of real estate described in Contract of even date herewith and attached hereto executed the undersigned, payable at the closing of said Contract. This promissory note shall bear no interest until the date of closing of the Contract; thereafter it shall bear interest at the highest rate allowable by law. This Note shall become null and void if and when the undersigned shall complete all requirements for closing as set out in the attached Contract. If said requirements are not fulfilled this Note shall be fully enforceable at law. If this Note is placed in the hands of an attorney for collection, by suite or otherwise, the undersigned agree to pay all costs of collection and litigation together with a reasonable attorney s fee. Signature, 214 Signature, 214 6391 S. Old SR 37, Bloomington, IN (812) 824-6 phone UnitedCountryIN.com
ADDITIONAL INFORMATION Auction Advantages Auction Advantages Buyer Benefits Purchase property at fair market value Eliminate sometimes long negotiation periods Reduce time to purchase property Gain confidence as they compete Do not have to worry about contingencies because pur chasing and closing dates are known Feel better about a purchase ± just knowing there is a contending bid just one increment under purchase price Buyers know property owners are motivated to sell Buyers know property owners sell at lowest price pos sible Buyers can receive favorable financing Buyers set their own purchase price
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