Real Estate Auction, Lake Cottage, LaGrange County, IN

Owner
Bruce Westendorf

Auction Date
Wednesday, March 20 @ 6pm

Open House Date
Sun, Mar. 3 from 1pm-4pm

Property Location
5644 S 980 E, Wolcottville, IN 46795

Auction Location
Held Onsite

Property Description
·       1-1/2 story historic lake cottage on a crawlspace
·        Built in 1926
·        Beautifully updated, including most of the plumbing, electrical, and
         Insulation
·        Beautiful hardwood floors
·        47x147 lot
·        Access to Big Long Lake w/ shared pier rights
·        3 bedrooms
·        1 full bathroom
·        Living Room: 12x15
·        Dining Room: 7x7
·        Kitchen: 7x8 w/ hardwood cabinets, laminate counters, and SS appliances
·        Bedroom 1 main level: 8x10
·        Bedroom 2 upper level: 12x14
·        Bedroom 3 upper level: 9x10
·        Main floor washer and dryer hookup
·        Fully restored gas heater in living room, also a Mitsubishi mini split unit heats/cools
·        Asphalt shingle roof and wood siding
·        Large wraparound front porch
·        Front screened porch
·        Concrete patio
·        8x12 utility shed with overhead door for golf cat and lawn equipment storage
·        Regional sewer, well, and natural gas
·        L-1 Lake Residential zoning district
·        School district: Prairie Heights
·        2022 pay 203 taxes: $1,021.88

Auctioneer’s Note: Excellent opportunity to bid your price on a cozy historic lake cottage with many updates and access to Big Long Lake with shared pier rights. Big Long Lake is a 365 acre ski lake from dawn to dusk. Excellent fishing with a variety of species. There is a public boat launch on the upper Northeast end of the lake. This is a great opportunity to get access to a popular ski lake and not have to pay premium lake front prices!

Beautiful updated historic Lake Cottage on Big Long Lake w/ lake access and shared pier rights

Terms and Conditions

PROCEDURE: This property will be offered at oral auction. There will be open bidding during the auction, until the close of the auction as determined by the auctioneer.

DOWN PAYMENT: A $5,000 down payment is due at the close of the auction with the balance in cash at closing. The down payment will be made the day of auction, immediately following the auction, with the balance in cash at closing. The down payment may be made in the form of a cashier’s check, personal check or corporate check. Your bidding is not conditional upon financing, so be sure you have arranged financing, if needed, and are capable of paying cash at the closing.

ACCEPTANCE OF BID PRICES: Successful bidder will be required to enter into a purchase agreement at the auction site immediately following the close of the auction. All final bid prices are subject to the seller’s rejection or acceptance.

EVIDENCE OF TITLE: Seller shall provide an owner’s title insurance policy in the amount of the purchase price.

DEED: Seller shall provide a Warranty Deed.

CLOSING: The balance of the purchase price is due in cash at closing. A targeted closing date will be approximately 30 days after the auction, or as soon thereafter as applicable closing documents are completed by the seller. Costs for an administered closing shall be shared 50:50 between Buyer and Seller. Any costs associated with securing a mortgage shall be paid by the buyer(s).

POSSESSION: Possession given the day of closing, immediately following the closing.

REAL ESTATE TAXES: Real Estate Taxes will be pro-rated to the day of closing.

LOT SIZE: All dimensions, and proposed boundaries are approximate and have been estimated based on current legal descriptions, county records, and/or aerial photos.

SURVEY: A new perimeter survey will be completed only if necessary for closing. The seller and successful bidder shall each pay half (50:50) of the cost of the survey. The type of survey performed shall be at the Seller’s option and sufficient for providing title insurance.

AGENCY: Schrader Real Estate & Auction Company, Inc. and its representatives are exclusive agents of the Seller.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on an AS IS, WHERE IS basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the 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 the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc. All decisions of the Auctioneer are final.

ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL ORANY OTHER ORAL STATEMENTS MADE.