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Colfax Indiana 288 Acres Land Auction

February 8, 2023

6:00 pm

Colfax Indiana 288 Acres Land Auction


Both tracts sold to a single buyer for a total of $4,837,618.
Tract 1 sold for $17,700 per acre
Tract 2 sold for $16,000 per acre

288.29 +/- Acres of Prime Farm Ground being offered to the public. This land is being presented in two tracts, from two local farms. Tract 1 is 132.34 +/- acres. Tract 2 is 155.95 +/- Acres, Tract 2 tillable acres is approx. 147 +/- Acres.

Closing to take place within 45 days of auction, accepted offer date, or when an insurable title is available. Sellers will accommodate more time for 1031 Exchange offers if needed to help get the purchase worked out. Tract 2 is under contract for the 2023 season. The buyer of Tract 2 will receive $250 per tillable acre from the farmer for the 2023 season for the 147 +/- acres of tillable ground with a successful closing within 45 days of the Auction. Buyer of Tract 1 to have rights to land for 2023.

Auction Date: Wednesday, February 8th 2023 @ 6 PM EST
Auction Location: Stookey’s in Thorntown, IN

Live in person bidding and online bidding through Proxibid day of Auction.

Properties located just 1.8 miles west of Colfax, IN on County Rd 1050 N. Both Tracts are located in Montgomery County.

Call with any questions!

Office: (765)779-4000

Stefan Lathan Auction Manager: (317)370-0510

Caleb Cleek Realtor: (765)635-9861

Real Estate Terms:

“Addendum A”

Auction Terms and Conditions

Auction Date: Wednesday, February 8th at 6 P.M.

  1. There is NO Buyer’s premium charged at this Auction on the Real Estate for In Person Bidders. Online bidding is available the day of the Auction through Proxibid. There will be a $5,000 per tract buyer’s fee to the winning bidder if purchased online.
  2. Real Estate will sell with the confirmation of Seller(s).
  3. A 5% NONREFUNDABLE deposit payment is required at the close of the auction. Personal, Cashier’s, or Corporate/Farm checks are acceptable. This payment will be held in a non interest bearing account and applied toward the purchase price at closing. This is a nonrefundable deposit unless by default of the Seller(s). The sale of the real estate is not contingent on financing, so it is advised that the purchaser make financial arrangements prior to bidding. The balance of the purchase price is due at closing via Wire Transfer per instructions by Title Company.
  4. Closing to take place within 45 days of auction, accepted offer date, or when an insurable title is available. Sellers will accommodate more time for 1031 Exchange offers if needed to help get the purchase worked out. Tract 2 current farmer has the right to the 155.95 +/- acres for the 2023 season. The buyer of Tract 2 will receive $250 per tillable acre from the farmer for the 2023 season for the 147 +/- acres of tillable ground with a successful closing within 45 days of the Auction Date. Buyer of Tract 1 to have rights to land for 2023.
  5. A Title Insurance Policy will be issued by a company of the auctioneer’s choice. Seller and Buyer will split closing costs of sale 50/50. Any cost associated with purchaser financing is at the expense of the Buyer only.
  6. Any surveys requested or required are to be at the expense of the buyer(s). When the new survey is ordered, the survey will be ordered by the Auction Company or its designated agent, and will be for the perimeter only. No information, data, or discussion is permitted by the surveyor and the buyer(s) or buyer(s) agent without authorization from the Seller, Auctioneer, or a member of Jeff Boone Realty.
  7. Real Estate taxes will be prorated to the date of closing.
  8. All Real Estate and property is sold As-Is without any warranty. Agent and Seller(s) make no assurances to the ability to obtain any zoning or building permits of any kind. Your bids are to be based solely upon your inspection. The sellers, auction company, real estate broker, and their representatives make NO warranty with regard to zoning classifications, specific purpose or use restrictions, easements or deed restrictions, availability or location of utilities; availability of building, driveway, water or septic permits; or any information or materials provided by any third party regarding the auction property. 
  9. Bidding increments are at the discretion of the auctioneer and may vary. Real Estate will be offered by the price per acre to determine the total tract purchase amount. Bidding for Tract 1 & 2 will be “Bidder’s Choice”. The first high bidder will be given their choice of Tract 1, Tract 2, or both. This high bid will be taken to the sellers for confirmation of sale. Acreage and estimated property lines are estimated using  the County Beacon GIS online mapping website and acreage amounts are approximate and as accurate as the system will allow. Parcel acreages are not guaranteed and no price adjustments will be made for variations in amounts. Actual acreage amounts and new property lines can only be determined by an actual survey, if required.
  10. Any announcements made on the day of the sale take precedence over printed material or any other oral statement made. Auction company, Broker, or owner not responsible for accidents. Information has been provided via various printed and electronic media for the bidders’/potential buyers’ review. Although this information is deemed to be reliable, it is NOT guaranteed, and should NOT be substituted for the bidders’/potential buyers’ independent verification, and investigation of the property. The auction company and its agents including real estate brokers disclaim any warranty or liability for information provided.
  11. At the close of the auction, the high bidder(s) will be required to execute a purchase contract in the form of the Agreement to Purchase Real Estate & Addendum A. These terms and documents are non-negotiable. Time is of the essence. All terms and conditions of the Agreement to Purchase Real Estate and Addendum A shall survive the closing. If any provision of the Addendum A is inconsistent with a provision of the Agreement to Purchase Real Estate, the provision of the Addendum A shall prevail and control.
  12. Jeff Boone & Associates Auction and Realty and its agents and representatives, including Real Estate Brokers are the exclusive agents of the sellers.
  13. Seller and Buyers agree to take actions as requested to facilitate the closing of the sale including, but not limited to accommodating access by various vendors as may be required(i.e. surveyors, appraisers, etc….)



670 XC670 XC
00:56 13 Dec 23
Nice place,never had been there before
Susan SchroederSusan Schroeder
01:39 12 Dec 23
Would highly recommend this company. Gunner and Caleb worked tirelessly to organize and catalog all the items in my late husband’s workshop. They know tools and equipment and were able to identify and label even the most obscure items. They have a large customer base and are the best choice to help you get top dollar. In addition to their professionalism - you will not find more caring decent young men. I will be forever grateful to them for their kindness at such a difficult time. They are the best.
13:26 10 Dec 23
Class A auction, stayed on track with minimal local interference.Excellent communication.EvanForTrex Nutrition LLC
Amber JohnsonAmber Johnson
20:29 09 Dec 23
Very helpful and friendly auction staff!
zachary kellyzachary kelly
18:55 09 Dec 23
I had a discrepancy on a bid I placed called in and spoke with Caleb he watched the online bidding and saw the same issue Caleb helped me resolve the issue great customer service
AJ StewartAJ Stewart
17:00 30 Nov 23
I have bought and sold with Jeff and the crew in 6 different auctions. Have had a great experience every time. Highly recomended.
Chris ChrismondChris Chrismond
17:04 17 Nov 23
Caleb was so kind and attentive. Helped walk us through the process of selling our home with multiple back and forth conversation with the buyer. Would highly recommend!
lee, thomaslee, thomas
00:41 26 Sep 23
We took our vehicle there to sale. We had a easy and quick check in, everyone was extremely friendly and helpful. Our car didn’t sale but it wasn’t because of them. When we had to pick up our vehicle they were very accommodating and flexible in making a time to pick it up.
Erika OstrowskiErika Ostrowski
18:50 18 Sep 23
Jeff Boone is a great example of a well organized auction house. Always friendly staff and questions answered promptly and respectfully. I've bought and sold with Jeff Boone and would recommend any one to give them a try.
Spencer BaledgeSpencer Baledge
16:52 09 Sep 22
Great staff, goes above and beyond to draw in a good crowd and awesome items. Have personally sold items here on consignment and couldn’t be happier with the results! Thanks for the great service Caleb, Gunner, and Jeff!
Jason Lisa MillerJason Lisa Miller
22:54 12 May 22
Their inventory was outstanding. I wish I could have been there live, but I was still able to obtain some things I have been looking for at a reasonable price on-line.
joe welchjoe welch
15:01 20 Mar 22
Great service! Bought from more then 500 miles away. They were great to work with! Thank you
Kenny HilbertKenny Hilbert
15:30 12 Mar 22
I should have give them a five-star rating from the start it was just one of those days I have been going to Mort's auction field since the mid-90s watch it grow to at least three times the size that it was then have got a lot of wonderful great deals at great prices they've always been wonderful to me keep up the good work guys keep making it better I never miss an auction with you guys anymore
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