Name 20 Ln 325 Lake James #A3, Angola, IN 46703
Auctioneer Ness Bros.
Type Online-Only Auction
Date(s) 7/19/2021 - 10/6/2021
BIDDING ENDS: Wednesday, October 6 @ 3:00 pm.............. OPEN HOUSE(S): Sunday, September 26 @ 1:00 - 2:00 pm..........Sunday, October 3 @ 1:00 - 2:00 pm...These will be the only time to see inside the property due to Tenant Occupancy.
Preview Date/Time OPEN HOUSE(S): Sunday, September 26 @ 1:00 - 2:00 pm..........Sunday, October 3 @ 1:00 - 2:00 pm...These will be the only time to see inside the property due to Tenant Occupancy.
Checkout Date/Time --- EXECUTION OF PURCHASE AGREEMENT: The successful bidder has earned the right to make an offer to the Seller; no sale has been completed. The bidder will be required to execute an Irrevocable Real Estate Purchase Agreement immediately following the close of the auction and provide the required Earnest Money within 24 hours to the Seller in a check payable to Ness Bros. Buyer's offer expires 11:59 P.M. (local time) 7 days after the online auction date, unless Seller timely accepts it; the Earnest Money will be returned if Seller does not accept the successful bid as a primary or secondary offer, subject to any required approvals.
Location 20 Ln 325 Lake James A3
Angola, IN 46703
Buyer Premium 5% or minimum $2,500, whichever greater
Description
THIS IS A BANKRUPTCY AUCTION This 2 Bed Two Story Condo in Whisper Bay sits across from the highly sought after All Sports Lake James with private boat slip on the lake. The condo has balcony lake views on both levels with 2,356 sqft of living space. The Main level opens into a vaulted ceiling living room w/gas stone fireplace, kitchen w/sitting bar and dining area, large bedroom w/vaulted ceilings and full bath. The lower level walkout has a family room, a master size bedroom with walk-in closet, sitting area, and full bath with walk-in tile shower. There is a 2 car attached garage with heater and the furnace is 8 years old with A/C aprox. 3 years old. Common amenities included on the 13 acre complex include heated pool, pavilion, and fire pit for entertaining. Association Dues provide all exterior maintenance, lawn/landscaping care, snow removal, dock installation & removal, trailer & boat storage.
Auction Terms & Conditions ONLINE BANKRUPTCY REAL ESTATE AUCTION NOTICE - CASH or FINANCING BIDDING PROCEDURE BUYERS ARE TO FOLLOW WITH NO WAIVER Seller: Mark A. Warsco, Trustee for Frank Carter Baade, Case # 21-10331 Address: 20 Ln. 325 Lake James Apt. #A3, Angola 46703, located in Steuben County, Indiana Legal Description: The land referred to in this Commitment, situated in the County of Steuben, State of Indiana, is described as follows: Part of the Southeast Quarter of Section 4, Township 37 North, Range 13 East, Pleasant Township, Steuben County, Indiana, described as follows: Commence at a point on the South line of the Southeast Quarter North 89 degrees 52 minutes 15 seconds West (assumed bearing) 427.43 feet from the Southern most corner of Sunny Shores (Plat Book 4, page 12, Steuben County Recorder's Office); thence North 45 degrees 08 minutes 00 seconds East 229.0 feet; thence North 52 degrees 12 minutes West 119.85 feet to the Point of Beginning, said point being the Northwest corner of a tract of land owned by Philip S. Hoeppner as recorded in Deed Record 221, page 127, in the Office of the Recorder of Steuben County; thence by the deflection left of 90 degrees 00 minutes 00 seconds along the West line of said Hoeppner property, 72.00 feet to the Southwest corner of said tract; thence by deflection right of 90 degrees 00 minutes 00 seconds a distance of 25.85 feet to a point; thence by a deflection right of 90 degrees 00 minutes 00 seconds being along the extended East line of a tract of land owned by Gilbert and Ruth Hoeppner as recorded in Deed Record 214, page 454, in the Office of the Recorder of Steuben County, a distance of 72.00 feet to the Northeast corner of said tract; thence by a deflection to the right of 90 degrees 00 minutes 00 seconds a distance of 25.85 feet to the point of beginning. --- BIDDERS PACKET: All bidders who have registered for the online auction can view copies of the offer to purchase and terms at nessbrosauctions.com on the specific property Auction Detail Page. --- ONLINE REGISTRATION: Registration for this auction (online) finalizes each bidder's agreement to the terms and conditions of sale as stated in the Purchase Agreement which are incorporated by reference into your bidding. Do not bid until you have read the terms and conditions. In order to bid on the Real Estate, all bidders must be signed in through www.BidNessBros.com. There is no fee to register, but a valid credit card will be required to verify identity and ensure payment of the Earnest Money, if applicable. By bidding you are representing to Ness Bros. Realtors & Auctioneers ("Ness Bros."), and the Seller that you have read and agree to be bound by the terms and conditions for this sale as stated herein. If you do not agree with any of the terms and conditions stated, DO NOT BID or you will be bound by those terms and conditions. By bidding you agree to all disclosures. --- CONDUCT OF THE AUCTION: The Seller and selling agents reserve the right to preclude any person from bidding if there is any question as to the person's identity, credentials, validity of the credit card, fitness to bid, financial ability to buy, etc. All decisions of the Auctioneer are final. THE SALE WILL BE CONTROLLED BY THE AUCTIONFLEX / BIDOPIA SOFTWARE. Ness Bros. is not responsible for malfunctions or system errors which cause a bid or bidder to fail to be recognized or registered. If there is a dispute, the Auctioneer may reopen the bidding at the Auctioneer's sole discretion and shall serve as the sole arbiter as to who is or is not allowed to bid. --- BIDDING: Bidding starts at the nominal Opening Bid(s) indicated and is open to all who registered and are approved by the way of verified identity and credit card information. The bidding will be open for minimum of 10 days. The auction ends at a predetermined time with an Overtime Period, if necessary, which is defined as follows: if a bid is placed within five (5) minutes of the close of bidding, then another five (5) minute period commences from the time of the last bid until no bids are placed within the next five (5) minutes. The last bid shall be made final. --- AGENCY DISCLOSURE & GENERAL OFFICE POLICIES: Ness Bros. will represent the Seller exclusively unless a Ness Bros. Agent has a signed buyer agency agreement with Buyer, then that agent has a limited agency with Buyer. --- DISCLAIMER & ABSENCE OF WARRANTIES: All information contained online or in the brochure and related material is subject to the terms and conditions outlined in the Purchase Agreement. The Property is being sold on an "AS IS, WHERE IS" basis. No warranty or representation, either expressed or implied, concerning the Property, its condition, or the condition of any other components on the Property, is made by the Seller or Ness Bros. All sketches and dimensions online or in the brochure are approximate. The information contained online or in the 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 Ness Bros. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. --- TERMS: Earnest Money of 5% down or $2,500.00, whichever is greater, within 24 hours of the online auction closing. In the event the winning bidder fails to provide the Earnest Money within 24 hours, Ness Bros. is authorized to charge the credit card for the amount of the Earnest Money, or any portion thereof, and an additional administrative fee of 5% of the amount being charged. The balance is due in full upon delivery of the merchantable title and deed free and clear of all liens and encumbrances except as stated herein and subject to easements or restrictions of record. A Buyer's Premium of 5%, or minimum of $2,500.00, whichever is greater, will be added to final bid and included in the total contract price. All bids accepted on the Real Estate are subject to the Bankruptcy Trustee and the Bankruptcy Court's approval. --- BANKRUPTCY COURT APPROVAL: Once the auction is concluded the winning bid will be submitted to the Bankruptcy Trustee for approval. Once the Offer is accepted in writing by the Bankruptcy Trustee, the Bankruptcy Trustee has up to 45 business days to obtain Bankruptcy Court approval. If Bankruptcy Court approval is not obtained, all funds paid to Ness Bros. will be returned, without interest. --- TITLE POLICY: A preliminary title policy has been prepared by Metropolitan Title of Indiana, LLC, which will be preparing the final title policy plus conducting the Closing. Seller and Buyer agree to use Metropolitan Title of Indiana, LLC. --- SUBJECT TO FINANCING CONDITIONS: IF an offer is accepted that is contingent on financing, Buyer must have a pre-approval letter from their lender accepted by Ness Bros. or Buyer may choose to be pre-approved by Tim Yanes from Union Home Mortgage for their convenience at https://www.applywithTim.com....Click on the Short Application Button. Tim can be reached at 260.760.0159. The Financing Addendum is made a part of this Purchase Agreement. --- CASH CONDITIONS: The Earnest Money will be totally forfeited in the event the Seller accepts the successful bidder's Purchase Agreement in writing and the successful bidder subsequently refuses to proceed to Closing. --- EXECUTION OF PURCHASE AGREEMENT: The successful bidder has earned the right to make an offer to the Seller; no sale has been completed. The bidder will be required to execute an Irrevocable Real Estate Purchase Agreement immediately following the close of the auction and provide the required Earnest Money within 24 hours to the Seller in a check payable to Ness Bros. Buyer's offer expires 11:59 P.M. (local time) 7 days after the online auction date, unless Seller timely accepts it; the Earnest Money will be returned if Seller does not accept the successful bid as a primary or secondary offer, subject to any required approvals. --- SECONDARY / BACK-UP OFFER: IF this offer is a secondary / back-up offer, then this offer will stay in effect until 27 days after the Auction ends. Buyer may Terminate Secondary/Back-up Offer at any time if Buyer has an accepted offer on another property. --- TAXES: The real estate taxes shall be prorated. Seller shall pay real estate taxes which are payable during the year in which Closing occurs, and taxes payable during the succeeding year, prorated to the date of Closing. Buyer shall assume and pay all subsequent taxes. If at the time of Closing the tax bill for the Real Estate for the succeeding year has not been issued, taxes payable shall be computed based on the last tax bill available to the closing agent. The succeeding year's tax bill, because of recently constructed improvements, annexation, reassessment, or similar items may greatly exceed the last tax bill available to the closing agent. --- GUARANTY: Any individual submitting a bid or signing the Purchase Agreement on behalf of any entity agrees to be individually bound by all these terms and conditions and individually responsible for payment of the Earnest Money and the balance due. --- POSSESSION: The possession of the Property shall be Upon Closing of Property, subject to tenant's rights, by 5:00 P.M. --- SURVEY: The Seller has a legal description for the property so no survey will be provided. If a survey is requested, it will be paid for by the Buyer. --- CLOSING: Balance of the purchase price is due in cash at Closing, which will take place, within 45 days following Bankruptcy Court approval if the Buyer has financed the transaction or 30 days following Bankruptcy Court approval if the Buyer has made a cash offer. The fee charged by any closing agent, including an attorney acting as a closing agent for both parties, or Buyer's lender acting in such capacity, for closing services shall be paid equally by the parties. Buyer will be responsible for paying a $245.00 administration transaction commission payable to Ness Bros. --- AUCTIONEER RESERVES: Auctioneer reserves the right to make changes to an auction, to split or combine lots, cancel, suspend or extend the auction event. NOTE: Neither the Seller nor Ness Bros. is responsible for any personal property left in the residence and buildings, or on the land after the Real Estate possession is granted to Buyer and will be inherited by the new buyer. STATEMENTS MADE BY AUCTIONEER WILL TAKE PRECEDENCE OVER PREVIOUSLY PRINTED MATERIALS OR ANY PREVIOUS ORAL STATEMENTS --------------------------------------------- ------------------------------------------ Terms Of Use

Seller User Terms

Bidder User Terms
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 9,999,999.99 1,000.00 USD
Currency USD
Buyer Premium 5% or minimum $2,500, whichever greater
Payment Terms
--- TERMS: Earnest Money of 5% down or $2,500.00, whichever is greater, within 24 hours of the online auction closing. In the event the winning bidder fails to provide the Earnest Money within 24 hours, Ness Bros. is authorized to charge the credit card for the amount of the Earnest Money, or any portion thereof, and an additional administrative fee of 5% of the amount being charged. The balance is due in full upon delivery of the merchantable title and deed free and clear of all liens and encumbrances except as stated herein and subject to easements or restrictions of record. A Buyer's Premium of 5%, or minimum of $2,500.00, whichever is greater, will be added to final bid and included in the total contract price. All bids accepted on the Real Estate are subject to the Bankruptcy Trustee and the Bankruptcy Court's approval.
There is none this is Real Estate