BURGESS AUCTIONS LLC

Trusted Auctions, Timeless Results.

www.burgessauctions.com • (765) 445-7814 • AU19600029

TERMS AND CONDITIONS OF SALE

1137 S Main St, New Castle, Indiana 47362

Real Estate Auction – Estate of Ann Beard

Friday, April 10, 2026 at 12:00 PM (Noon)

On-Site: 1137 S Main St, New Castle, IN 47362

1. Auction Authority and Purpose

This real estate auction is conducted by Burgess Auctions LLC in partnership with J. Snider Real Estate on behalf of the Estate of Ann Beard, Jason Siegmann, Personal Representative, for the purpose of selling the property located at 1137 S Main St, New Castle, Indiana 47362. The Estate is highly motivated to sell and the Personal Representative is prepared to confirm reasonable market bids promptly following the auction.

2. Personal Property Auction Notice

In addition to this real estate auction, an online-only personal property auction for the Estate of Ann Beard will be conducted by Burgess Auctions LLC on Monday, March 16, 2026. The personal property auction is a separate sale and is governed by its own terms and conditions. Bidders interested in the personal property auction should visit www.burgessauctions.com or contact Burgess Auctions LLC at (765) 445-7814 for registration and catalog information. The real estate and personal property auctions are independent transactions; participation or success in one does not affect or obligate participation in the other.

3. Property Description

Legal Description: Bundy Park 1st Addition, Lot 1

Common Address: 1137 S Main St, New Castle, IN 47362

Parcel ID / Tax ID: 331215430135000016

County: Henry County, Indiana

Property Type: Single Family Residential

Finished Living Area: 1,158 sq ft

Total Square Footage: 1,691 sq ft (includes unfinished basement)

Basement: Full Block Basement – 533 sq ft (Unfinished)

Lot Size: 6,490 sq ft (0.15 Acres)

Year Built: 1900

Style: Traditional American – 1 Level

Bedrooms: 2

Bathrooms: 1 Full

Garage: Detached 1-Car (240 sq ft)

School District: New Castle Community School Corp

Additional Features:

Vinyl exterior
Forced air gas heating / Central electric air conditioning
Covered front porch
Municipal water and sewer connected
Attic access

Room Information:

Living Room: 26’ x 14’ (Main Level, Carpet)
Kitchen: 17’ x 12’ (Main Level, Vinyl) – Dining Combo
Mud Room: 14’ x 7’ (Main Level, Vinyl)
Primary Bedroom: 10’ x 12’ (Main Level, Carpet)
Bedroom 2: 10’ x 10’ (Main Level, Carpet)

4. Bidder Registration

4.1 Registration Requirements

All potential bidders must register before the auction begins by providing:

Valid government-issued photo identification (Driver’s License or Passport)
Proof of financial capability (bank statement, proof of funds, or current pre-approval letter)
Completed and signed Bidder Registration Form
Contact information including phone number and email address

4.2 Bidder Authorization

By registering, each bidder acknowledges they have the authority to bid and purchase the property, either individually or as an authorized agent for another party. If bidding as an agent, written authorization must be provided.

4.3 Registration Approval

Burgess Auctions LLC reserves the right to approve or deny any bidder registration at its sole discretion.

5. Auction Procedures

5.1 Auction Time and Location

Date: Friday, April 10, 2026

Time: 12:00 PM (Noon)

Location: On-site at 1137 S Main St, New Castle, IN 47362

Online simulcast bidding will open 48 hours prior to the live auction (Wednesday, April 8, 2026 at 12:00 PM). While online bidding is convenient, in-person attendance is encouraged for the best auction experience.

5.2 Bidding Process

Auction will begin promptly at 12:00 PM
Auctioneer will accept bids in increments determined at time of sale
Bidders must clearly signal their bids to the auctioneer
Auctioneer’s decision on bid recognition is final
In case of bid disputes, the auctioneer may reopen bidding or make a final determination
Bidding continues until no higher bids are received

5.3 Sale Confirmation

This auction is conducted SUBJECT TO SELLER’S CONFIRMATION. The winning bid is subject to acceptance by Jason Siegmann, Personal Representative of the Estate of Ann Beard. Burgess Auctions LLC and J. Snider Real Estate will present all bids to the Personal Representative promptly following the auction. Confirmation or rejection will occur within 24 hours of the auction.

5.4 Bid Increments

Bid increments will be determined by the auctioneer based on bidding activity and the current bid level. Typical increments range from $500 to $2,500 depending on the price point.

6. Purchase Terms

6.1 Earnest Money Deposit

The successful high bidder, upon confirmation by the Personal Representative, must provide an earnest money deposit as follows:

Deposit (Day of Auction):

Amount: $5,000
Due: Within one (1) business day of confirmation of bid; bank wire transfer to Fidelity National Title is preferred
Payable to: Fidelity National Title
Acceptable forms: Bank wire transfer (preferred), cashier’s check, certified check, or cash

6.2 Earnest Money Terms

Earnest money is NON-REFUNDABLE upon execution of purchase agreement, except for title defects that cannot be cured or if the Personal Representative does not confirm the sale
Earnest money shall be wired to and held in escrow by Fidelity National Title; wire instructions will be provided upon confirmation of sale
Failure to provide the required deposit on auction day constitutes default and may result in forfeiture

6.3 Buyer’s Premium

A ten percent (10%) Buyer’s Premium will be added to the winning bid amount. This premium is part of the total purchase price.

Example Calculation:

Winning Bid: $50,000

Buyer’s Premium (10%): + $5,000

TOTAL PURCHASE PRICE: $55,000

Less: Earnest Money Deposit: – $5,000

Balance Due at Closing: $50,000

The Buyer’s Premium is non-negotiable and applies equally to all bidders.

6.4 Balance Due

The remaining balance is due at closing, which must occur within thirty (30) days from confirmation date.

7. Property Condition

7.1 “As-Is, Where-Is” Sale

Property is sold in its current condition “AS-IS, WHERE-IS” with NO WARRANTIES OR GUARANTEES
No warranties or guarantees are made regarding condition, habitability, fitness for any particular purpose, mechanical systems, structural integrity, roof condition, appliances, code compliance, environmental conditions, or square footage accuracy
Buyer accepts all defects, whether known or unknown, visible or latent
No repairs will be made by the Estate prior to closing
The Estate makes no representations regarding property condition

7.2 Inspection Opportunity

Buyers are strongly encouraged to inspect the property prior to auction
Property showings are available by appointment – contact Jason Snider at (317) 507-1692 or snidergroup@gmail.com
Professional inspections are permitted at Buyer’s expense
ALL INSPECTIONS MUST BE COMPLETED PRIOR TO AUCTION DAY (April 11, 2026)
No contingencies for inspections will be accepted in the purchase agreement
No post-auction inspections or renegotiations permitted

7.3 Due Diligence

Prospective buyers should conduct the following prior to bidding:

Professional home inspection
Pest / termite inspection
Radon testing
Environmental assessment if concerned
Survey verification
Title examination
Zoning verification
Building permit and code compliance verification
Property tax verification
Utility availability confirmation
Any other investigations deemed necessary

All due diligence is Buyer’s responsibility and must be completed before auction day.

7.4 Environmental Conditions and Property Age

This property was built in 1900. Buyers should be aware that older properties may have outdated electrical, plumbing, or HVAC systems; building materials not in compliance with current codes; deferred maintenance; lead-based paint; asbestos-containing materials; or other age-related conditions. A Lead-Based Paint Disclosure will be provided in accordance with federal law. All such conditions are Buyer’s responsibility to discover and address.

8. Closing Requirements

8.1 Closing Timeline

Closing must occur within 30 days of confirmation; cash buyers may close in as few as 10 business days
Target closing date: On or before May 11, 2026
Extensions may be granted only with the Personal Representative’s written approval and may be subject to a per diem penalty
Time is of the essence – Buyer must be prepared to close on schedule
Delays due to Buyer’s financing or other Buyer-related issues do not excuse performance

8.2 Closing Location

Closing will be held at Fidelity National Title or another mutually agreeable title company in Henry County, Indiana.

8.3 Closing Costs – Seller Responsibilities

Owner’s title insurance policy (standard coverage) for Buyer
Transfer taxes and stamps per Henry County custom
Any title defect resolution costs
Real estate taxes through November 2025 installment (paid by Seller; Buyer assumes all taxes due and payable thereafter)
Attorney fees if the Estate chooses legal representation
Outstanding liens, judgments, or encumbrances necessary to convey clear title

8.4 Closing Costs – Buyer Responsibilities

Lender’s title insurance policy (if obtaining financing)
All loan origination fees, points, and lender costs
Recording fees for deed and mortgage documents
Property survey (if required by lender)
All property inspection fees
Homeowner’s insurance premium
Buyer’s attorney fees (if Buyer chooses legal representation)
Any and all real estate taxes due and payable after the November 2025 installment
All other costs customary for buyers in Henry County, Indiana

8.5 Property Tax Prorations

The November 2025 installment of real estate taxes has been paid by the Estate. Purchaser shall assume any and all real estate taxes due and payable thereafter. Current semi-annual taxes are approximately $598 (2025 assessment). No delinquent taxes are currently known to exist on the property.

8.6 Title and Deed

The Estate shall convey marketable and insurable title
Title conveyed by Personal Representative’s Deed
Owner’s title insurance provided at Seller’s expense through Fidelity National Title
Property conveyed free and clear of all liens and encumbrances except taxes due and payable after November 2025 installment, standard utility easements, easements and restrictions of record, zoning ordinances, and rights-of-way of record

8.7 Title Examination

Buyer shall have 10 days from confirmation to examine title
Buyer must provide written notice of any title objections within the examination period
The Estate shall have reasonable time (not to exceed 30 days from notification) to cure title defects
If title cannot be made marketable and Buyer is unwilling to accept title with defects, earnest money shall be refunded and neither party has further obligation

9. Seller Confirmation

9.1 Confirmation Required

All sales are subject to confirmation by Jason Siegmann, Personal Representative of the Estate of Ann Beard. The sale is not final and binding until confirmation is obtained.

9.2 Confirmation Timeline

Confirmation will occur within 24 hours after the auction. The Estate is highly motivated to sell and the Personal Representative is prepared to confirm reasonable market bids promptly.

9.3 Non-Confirmation

If the Personal Representative does not confirm the sale for any reason:

All deposits will be refunded to Buyer in full
Neither party has further obligations or liability
This is Buyer’s sole remedy for non-confirmation
The Estate has no liability for rejection of bid

10. Default Provisions

10.1 Buyer Default

Buyer shall be in default if Buyer fails to:

Execute purchase agreement immediately after confirmation
Provide required earnest money deposit of $5,000 on auction day
Close within the specified time period
Meet any other material contract obligations

Consequences of Buyer Default:

All earnest money deposits are forfeited to the Estate
Property may be resold at Buyer’s risk
Buyer liable for any deficiency if property resells for less
Buyer liable for additional costs including remarketing expenses, carrying costs, and legal fees
Seller may pursue legal action for specific performance or damages
Buyer may be barred from future Burgess Auctions events

10.2 Seller Default

If the Estate fails to convey marketable title after reasonable opportunity to cure, or fails to close without just cause, Buyer’s remedies are limited to: return of all earnest money in full, reimbursement of reasonable inspection costs not to exceed $500, and Buyer may pursue specific performance or actual damages if the default is willful.

11. Financing

11.1 No Financing Contingencies

Purchase agreements contain NO FINANCING CONTINGENCIES
Buyer must close regardless of whether financing is approved, denied, or delayed
Buyer should obtain firm financing commitments BEFORE BIDDING
Failure to obtain financing does NOT excuse Buyer’s performance
Buyer remains obligated to close even if loan is denied, property appraises below purchase price, lender imposes additional conditions, or Buyer’s financial situation changes

11.2 Appraisal Issues

If the property appraises below the purchase price, Buyer remains obligated to purchase and must make up the difference in cash. A low appraisal does NOT excuse Buyer’s performance.

12. Possession and Occupancy

Possession transfers to Buyer at closing on or before May 11, 2026. Property shall be delivered in broom-clean condition, with all personal property not included in the sale removed prior to closing. Early possession prior to closing is NOT PERMITTED unless specifically agreed in writing by the Personal Representative.

13. Taxes and Assessments

Current Semi-Annual Taxes: $598 (2025 assessment)

Tax ID / Parcel Number: 331215430135000016

The November 2025 installment of real estate taxes has been paid by the Estate. Purchaser shall assume any and all real estate taxes due and payable thereafter. No delinquent taxes are currently known to exist on the property. Any special assessments levied after the closing date become Buyer’s responsibility.

14. Inclusions and Exclusions

14.1 Included in Sale

All real property as described in legal description
All fixtures permanently attached to the property
All landscaping, trees, and shrubs
Covered front porch
Detached garage
Refrigerator (sold “AS-IS”)
Light fixtures and ceiling fans (if any)
HVAC equipment (forced air gas heat / central electric AC)
Water heater

All included items sold “AS-IS” with no warranties regarding condition or operation.

14.2 Excluded from Sale

All personal property not specifically listed as included. The Estate shall remove all excluded items prior to closing at the Estate’s expense.

14.3 Verification

Buyer should verify all included and excluded items during the property inspection. Items present during showings may be removed prior to closing if not specifically listed as included.

15. Utilities and Services

Water: Municipal water connected
Sewer: Municipal sewer connected
Electric: Connected (Buyer to transfer)
Gas: Natural gas – forced air heating
Solid Waste / Trash: Yes (Buyer to arrange transfer)

Utilities will remain connected through closing. Buyer is responsible for transferring all utilities into Buyer’s name as of the closing date.

16. Broker Participation

16.1 Broker Cooperation Welcome

Licensed Indiana real estate brokers representing qualified buyers are welcome to participate in this auction.

16.2 Commission Terms

Buyer’s broker commission: 3% of the final hammer price (winning bid, not including Buyer’s Premium)
Commission paid at closing
Commission earned only if sale closes successfully

Example: $50,000 winning bid × 3% = $1,500 broker commission.

16.3 Registration Requirements

To receive commission, cooperating brokers must:

Complete and submit a Broker Participation Agreement no later than 24 hours prior to auction (by April 10, 2026 at 12:00 PM)
Register their client as a bidder prior to the auction
Accompany their buyer to the auction
Provide a copy of valid Indiana real estate license
Brokers who fail to properly register prior to the deadline will NOT be entitled to commission, even if their client is the successful bidder

17. Dispute Resolution

This sale is governed by the laws of the State of Indiana and Henry County jurisdiction. Prior to initiating any legal action, parties agree to attempt resolution through good-faith mediation. If mediation is unsuccessful, all disputes shall be resolved through binding arbitration under Indiana law in Henry County, Indiana. The prevailing party in any legal action, mediation, or arbitration is entitled to recover reasonable attorney fees and costs. If litigation is necessary, venue shall be in Henry County, Indiana.

18. General Provisions

18.1 Entire Agreement

These Terms and Conditions, together with the Real Estate Purchase Agreement and any written addenda signed by all parties, constitute the entire agreement between the Estate and Buyer. No prior verbal or written agreements, representations, or understandings shall be binding.

18.2 Announcements Supersede Printed Materials

Any announcements made by the auctioneer on auction day shall take precedence over all prior printed materials, advertisements, marketing materials, website descriptions, email communications, and these written terms (if specifically modified by announcement). Bidders are responsible for hearing and understanding all announcements made from the auction podium.

18.3 Severability

If any provision of this agreement is found to be invalid, illegal, or unenforceable, the remaining provisions shall remain in full force and effect.

18.4 Assignment Prohibited

Buyer may not assign, transfer, or convey this purchase agreement or any rights hereunder without prior written consent of the Personal Representative. Any attempted assignment without proper consent is void and constitutes a default.

18.5 Time is of the Essence

Time is of the essence with respect to all dates, deadlines, and time periods specified in this agreement. Failure to perform within specified timeframes constitutes a material breach.

18.6 Electronic Signatures

Electronic signatures (including DocuSign, Adobe Sign, etc.) shall have the same legal effect as original handwritten signatures. Facsimile and PDF signatures are acceptable.

18.7 Business Days

When any time period refers to “days,” it means calendar days unless specifically stated as “business days.” Business days exclude Sundays and federal holidays.

19. Disclosures and Representations

19.1 Required Disclosures

The Estate has provided or will provide all disclosures required by Indiana law, including the Indiana Seller’s Residential Real Estate Sales Disclosure Form and Lead-Based Paint Disclosure (property built in 1900).

19.2 Marketing Materials Not Guaranteed

All information in marketing materials, including advertisements, brochures, website listings, property descriptions, photographs, tax information, school district information, and zoning information is derived from sources deemed reliable but is NOT GUARANTEED. Buyer must independently verify all information. All square footage, lot size, room dimensions, and property features are approximate.

19.3 No Verbal Representations Binding

No verbal representations, statements, or promises made by the Estate, auctioneer, agents, or employees are binding unless contained in these written Terms and Conditions or the written Purchase Agreement.

20. Agency Disclosure

20.1 Seller’s Representatives

The following parties represent the SELLER’S interests exclusively:

Auctioneer: Burgess Auctions LLC

Principal Auctioneer: Zack Burgess, CAI, AMM

License: AU19600029

Phone: (765) 445-7814

Email: sold@burgessauctions.com

Real Estate Broker: J. Snider Real Estate

Agent: Jason Snider

License: RB14045952

Phone: (317) 507-1692

Email: snidergroup@gmail.com

20.2 Buyer Representation

Buyers are encouraged to seek their own independent representation. Neither the auctioneer nor the listing agent represents Buyer’s interests. No dual agency relationships will be created.

21. Bidder Acknowledgment and Agreement

By registering to bid and participating in this auction, each bidder acknowledges, represents, warrants, and agrees to the following:

Understanding of Terms: I have read, understand, and agree to be bound by all Terms and Conditions set forth in this document.
Property Inspection: I have had full opportunity to inspect the property and have completed all desired inspections prior to April 11, 2026, or I waive my right to inspect.
“As-Is” Acceptance: I understand and accept that the property is sold “AS-IS, WHERE-IS” with NO WARRANTIES or GUARANTEES of any kind.
Due Diligence Completed: I have conducted my own due diligence regarding property condition, title, zoning, taxes, and all other matters material to my purchase decision.
Buyer’s Premium: I understand a 10% Buyer’s Premium will be added to my winning bid to determine the total purchase price.
Earnest Money: I understand I must provide a $5,000 earnest money deposit within one (1) business day of confirmation, payable to Fidelity National Title via bank wire transfer (preferred), cashier’s check, certified check, or cash.
Non-Refundable Deposit: I understand the earnest money deposit is NON-REFUNDABLE except for uncurable title defects or non-confirmation by the Personal Representative.
Financial Capability: I have sufficient financial capability to close within 30 days (or as few as 10 business days if paying cash), either through verified cash funds or pre-approved financing.
No Contingencies: I understand this sale contains NO CONTINGENCIES for financing, inspections, appraisal, sale of other property, or any other conditions.
Financing Not Contingent: I understand that if I am obtaining financing, the sale is NOT contingent upon loan approval, and I must close regardless of financing outcome.
Authority to Purchase: I have full legal authority to bid and enter into a binding contract to purchase this property.
Closing Timeline: I understand I must close within 30 days of confirmation (on or before May 11, 2026), or in as few as 10 business days if paying cash, and that time is of the essence.
Default Consequences: I understand that if I fail to close for any reason, I will forfeit all earnest money and may be liable for additional damages.
Announcements Supersede: I understand that announcements made by the auctioneer on auction day supersede all printed materials.
Seller Confirmation Required: I understand this sale is subject to confirmation by Jason Siegmann, Personal Representative of the Estate of Ann Beard, within 24 hours and is not final until confirmed.
Tax Assumption: I understand the November 2025 real estate tax installment has been paid by the Estate, and I will assume any and all real estate taxes due and payable thereafter.
Independent Advisors: I have had opportunity to consult with legal, financial, tax, and real estate advisors, or I waive this opportunity.
Binding Agreement: I understand that upon confirmation of my bid, I am legally bound to purchase the property under these Terms and Conditions.

Bidder Printed Name: _______________________________________________ Date: ________________

Bidder Signature: _________________________________________________ Bidder #: ____________

Co-Bidder / Agent Signature (if applicable): ___________________________ Date: ________________

22. Contact Information

22.1 Auctioneer

Burgess Auctions LLC: Zack Burgess, CAI, AMM – Principal Auctioneer

License: AU19600029

Phone: (765) 445-7814

Email: sold@burgessauctions.com

Website: www.burgessauctions.com

22.2 Real Estate Agent – Property Showings

Jason Snider: J. Snider Real Estate

License: RB14045952

Phone: (317) 507-1692

Email: snidergroup@gmail.com

Property showings available by appointment.

22.3 Title Company

Closing / Escrow: Fidelity National Title

Wire instructions and closing contact to be provided upon confirmation of sale.

Integrity in Every Lot. Care in Every Sale.

Burgess Auctions LLC • www.burgessauctions.com • AU19600029

Upcoming Auctions