ABSOLUTE REAL ESTATE AUCTION- 2 RESIDENTIAL HOUSES

CAUSE NO. 18C01-1511-MF-59

614 Hutchinson Ave., Muncie, Indiana 47303-  April 4th, 2017 @ 11am ON-SITE: 888 SF

710 N. Mulberry Street, Muncie, Indiana 47305-  April 4th, 2017 @ 1pm ON SITE: 2748 SF TRIPLEX

GALLIVAN IS PLEASED TO OFFER THESE TWO RESIDENTIAL HOMES AT ABSOLUTE SHERIFF SALE

PLEASE SEE DOCUMENTS FOR PHASE 1 AND TITLE WORK

PROPERTY INFO-

 614 Hutchinson Ave.

LOT SIZE:                                         +/- 40X150 SF

NUMBER OF BUILDINGS:                              1                                            

COUNTY:                                                 DELAWARE

CITY:                                                        MUNCIE

PARCEL:                                                  1117255003000

BUILDING INFORMATION-

DATE OF CONSTRUCTION:  1924

TOTAL LAND AREA: Based on assessor data: +/- 40X150 SF

TOTAL SF:          888 SF

IMPROVEMENTS:  UTILITY SHED, CENTRAL WARM AIR, PORCH AND DECK

SHAPE: RECTANGLE

PROPERTY INFO-

710 n MULBERRY ST.- TRIPLEX

LOT SIZE:                                         +/- 40X122 SF

NUMBER OF BUILDINGS:                              1                                            

COUNTY:                                                DELAWARE

CITY:                                                       MUNCIE

PARCEL:                                                 1110157007000

BUILDING INFORMATION-

DATE OF CONSTRUCTION:  1900

TOTAL LAND AREA: Based on assessor data: +/- 40X122 SF

TOTAL SF:         2748 SF- MAIN FLOOR- 1482 SF, 2^ND FLOOR 1266 SF

IMPROVEMENTS:  CENTRAL WARM AIR, PORCH AND DECK

SHAPE: RECTANGLE

THESE PREMISES ARE OFFERED upon the following terms and conditions:

1. The Purchase Price is $__________________. 

2.         The highest bidder shall deliver to Gallivan at the time and place of the sale a cashier’s check or other certified funds payable to Gallivan in the amount of Two Thousand Five Hundred Dollars ($2,500.00), which shall constitute a nonrefundable “earnest money” deposit (“Earnest Money Deposit”) for the purchase of the Property, and shall thereupon execute the purchase agreement for the Property, immediately following the delivery of the Earnest Money Deposit. 

3.         The balance of the Purchase Price is to be paid on or before 30 DAYS AFTER AUCTION, at the time and place of closing.   If the Purchaser is not ready to close title by the scheduled closing date, any adjournment granted at the request of the Purchaser shall be only upon the provision that all prorations and adjustments shall be as of the scheduled closing date.

4.         The Real Property is sold and the Purchaser agrees to accept the Real Property “as is” in its present condition in all respects, subject to utility easements, zoning ordinances, and any other restrictions of record. No warranties as to physical condition, environmental condition, habitability, suitability to particular purpose, tenancies, or compliance with any laws, codes or ordinances, including those relating to water supplies and septic systems (“Deficiencies”) are made by the Seller, unless specifically stated herein.  Cost and responsibility for curing Deficiencies, if any, is the Purchaser’s, and the correction or cure of any Deficiencies shall not be a condition of this sale or in any way affect Purchaser’s obligations under this agreement.  Any inspections by Purchaser or his/her/their representatives shall be at Purchaser’s expense and for his/her/their information only. 

1. Rentals, water and sewer charges and any other matters appropriate for prorating and adjustment shall be prorated between the Seller and the Purchaser at the time of closing.  Any installments for local improvements not due and payable at the time of closing shall be paid for by the Purchaser as they thereafter become due.  Real estate taxes due and payable on the Property which are or will be delinquent as of the date of the sale shall be paid by Bank.  Real estate taxes that become due and payable between the date of the sale and the date the Sheriff’s Deed is issued to buyer shall be paid by the buyer at the closing, in addition to the winning bid amount and the Buyer’s Premium.  The buyer shall be responsible for the payment of all taxes and assessments for installments which become due and payable after the delivery of the Sheriff’s deed.

6.         At time of closing, the Delaware County Sheriff’s Department will transfer ownership of the property via Sheriff’s Deed.

7.         This sale is not contingent upon the ability of the Purchaser to secure financing, sell another Real Property or any contingencies whatsoever except as provided in paragraph 6.

8.         This sale agreement shall be governed by, and construed in accordance with, the laws of the State of Indiana.

9.         In the event of any litigation arising out of this sale, this agreement or any breach thereof, the successful party in any litigation shall be entitled to attorney fees and all costs of litigation.

1. If the buyer fails timely to deliver the balance of the sale price to Gallivan, then:
   1. The buyer’s Earnest Money Deposit shall be forfeited and applied first to any costs or expenses of the Sheriff, Treasurer, Assessor, the Bank, and/or Gallivan in connection with the sale, and the remainder shall be split equally between Gallivan, as reimbursement for its fees, and the Bank, as payment towards the balance of the Judgment, and;
   2. The sale shall then be reset under the same terms as herein provided; except Gallivan is authorized to sell the Property to a backup bidder from the original sale if, in the judgment of Gallivan and the Bank, the price the backup bidder is willing to pay is a greater amount than a subsequent sale is likely to realize after payment of advertising and other costs for the subsequent sale.

1. The buyer shall have rights to possession and title to the Property upon buyer’s delivery of the full bid price to Gallivan and delivery of the Sheriff’s Deed to buyer.

1. There will be a 10% Buyer’s Premium added to the bid price to determine the total purchase price paid.