WILMINGTON AREA FARMLAND AUCTION
Property sold for $2,550,000 (Tract 1: $1,125,000 & Tracts 2 & 3: $1,425,000). Both properties are expected to close by 01/13/2023. 2 farms totaling 291 acres selling in 3 tracts from 64 to 142 acres located in Central Clinton County, Ohio, south and southeast of Wilmington. Includes a mixture of rich black soils and gently rolling and productive farmland. The…
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2 FARMS IN 3 TRACTS ♦ 291 TOTAL ACRES
SELLS THURS ♦ NOVEMBER 3 ♦ 1:00 pm
FARM SOLD FOR $2,550,000
TRACT 1: $1,125,000 ($13,286/acre)
TRACTS 2 & 3: $1,425,000 ($6,903/acre)
FARM IS EXPECTED TO CLOSE BY 01/13/2023
- Tract 1: This property features 84.7 acres with highly productive black soils located east of State Route 73 and south of State Route 22 E. This farm includes 82+ tillable acres with Treaty & Fincastle soils. This is a highly desirable farm in a great location.
This property features 206.5 total acres available in two tracts located in Washington Township across from the intersection of Farmers Road and Steele Road. This combined farm contains 173+/- tillable acres with good drainage and Miamian & Dunham soils.
- Tract 2: This tract contains 142.0 gently rolling and productive acres and includes approximately 121 tillable acres. This farm has great potential and can be purchase separately or combined with Tract 2 for a sizable addition to your assets.
- Tract 3: This tract contains 64.5 acres and features two 45,000 bu grain bins, approximately 52 tillable acres, and an existing gravel driveway. This is a great opportunity to combine with Tract 3 or to purchase as a stand alone farm with great building site possibilities.
Public Viewing is being held at the Farmers Road property on Monday, October 24th from 4:00-6:00 pm (or by appointment) where Auction representatives will be available to provide a Bidder Package and answer your questions.
Cowman Road: From US 22 E. east of Wilmington, go south on Wilson Road which becomes Cowman Road to property.
Farmers Road: From State Route 73 east of Wilmington, go south to right on Accommodation Road to left on Farmers Road to property.
Watch for signs!
Monday, October 24th from 4:00 to 6:00 pm
at the Farmers Road property
(or by appointment)
Acceptance of Bid Prices: The successful onsite bidder(s) will sign a Confirmation of Sale Agreement at the auction site immediately following the close of bidding. Successful online bidder(s) will sign a Confirmation of Sale Agreement within 24 hours after the Auction. Bidding IS NOT CONDITIONAL UPON FINANCING.
Downpayment: Purchaser(s) will deposit down payment with Auction Company upon signing of Confirmation of Sale Agreement. Onsite Purchaser(s) will remit deposit date of auction. Online Purchaser(s) to deliver to Auctioneer via overnight mail, wire transfer (plus $35 wiring fee), or personally delivered funds the down payment within 24 hours of the auction's completion. Personal delivery made at 200 Parkview Lane, Cedarville, OH. Deposit Amounts: Tract 1: $50,000, Tract 2: $50,000, Tract 3: $25,000. All funds will be paid in U.S. funds.
Real Estate Taxes: Taxes will be prorated to date of closing using long proration method and held in escrow. CAUV was not renewed in 2022 due to the timing of the owner’s death. Seller will appeal or assist Purchaser(s) in appealing CAUV recoupment in January 2023 for the February 2023 tax bill. CAUV Recoupment amounts will be withheld from Seller’s proceeds at closing and held in Escrow until appeal is decided. If appeal is successful, the escrowed CAUV Recoupment funds will be reimbursed immediately to the Seller and the balance of escrowed real estate taxes will be adjusted and paid to Seller and Purchaser respectively based on the adjusted proration of taxes. Also, if the appeal is successful, any reimbursement of payments already paid at that time to the Clinton County Treasurer for the 2022 tax year will be payable to the Seller. If the appeal is unsuccessful, the escrowed CAUV Recoupment will be paid to the Clinton County Treasurer and the balance of escrowed real estate taxes will be paid to the Purchaser. Purchaser(s) will be responsible to re-apply for CAUV after closing for the 2023 tax year.
Closing Date: On or before January 13, 2023. Purchaser will pay customary portion of closing costs at closing. Closing(s) will be conducted by title company of Seller’s choice unless mutually agreed in writing by Seller and Purchaser.
Possession: Date of closing, with tenant’s rights reserved to harvest 2022 crops, if necessary. Tenant reserves the right to use the grain bins located on Farmers Road until January 31, 2023.
Agency: Sheridans 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.
Additional Online Bidding Terms:
PLEASE NOTE: All online bidders agree that they have read and fully understand these terms and agree to be bound thereby:
No Online Bidding Fees: No buyer premiums or other online bidding fees will be charged for online bidding.
Online Bidding: Auctioneer retains full discretion to modify these terms at any time prior to or during the auction. Bidders’ use of online bidding option and bid placement constitutes acceptance and agreement to adhere to these terms. All bidders are responsible for reading all terms and conditions. Lack of knowledge of Auction Terms and Conditions will not release bidders from their obligations. Auctioneer is not responsible for the failure of any part of the bidding process or internet bidding. The auction will end at the stated time and all "SOLD" tracts will be deemed sold at the same time based on the winning set of bids and upon Seller's confirmation. Bidding increments are at the discretion of the Auctioneer.
Modifications and Technical Difficulties: Auctioneer retains full discretion to modify the date, time, order, and details of the auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and convenience of Auctioneer or the Seller.
In the event that there are technical difficulties related to the server, software or any other online auction-related technologies, Sheridans and the Seller reserve the right to extend bidding, continue the bidding, or close the bidding. Neither Sheridans nor the Seller shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Email notifications may be sent to registered bidders with updated information as deemed necessary.
Bidder’s Agreement: Your use of this online bidding option constitutes your acceptance and agreement to adhere to these terms. Please print a copy for your records. All bidders are responsible for reading all terms and conditions carefully. Lack of knowledge of Auction Terms and Conditions will not release bidders from their obligations.
Seller: Estate of Thomas C. Gitzinger
Shireen J. Hebert, Executor
Laura J. Martin, Attorney
Wright & Schulte, LLC