WEDNESDAY, MARCH 15th, 2017, at 10:00 A.M.





Jeffrey T. Obrecht (515-689-1648)

LISTING #17104

DESCRIPTION: 136 acres m/l to be sold at auction on Wednesday, March 15th, at 10:00 A.M. This property consists of 136 acres m/l, of which there are 133.56 taxable acres and 135.3 cropland acres. This property has an average CSR2 of 69.9, with the county average CSR2 being 56.8.

DIRECTIONS: From Luton, Iowa, go east on County Highway D-51 to county rock road Delaware Avenue, then north on Delaware Avenue 1 mile to 240th Street. Subject property is located in the NE corner of the intersection of Delaware Avenue and 240th Street. Please watch for real estate signs.

LEGAL DESCRIPTION: All of Section Nine (9), lying south and west of the Garretson Drainage Ditch in Township Eighty-seven (87) North, Range Forty-six (46), West of the 5th P.M., Woodbury County, Iowa, and a tract of land located in the East Half of the East Half (E1/2 E1/2) of Section Eight (8), Township Eighty-seven (87) North, Range Forty-six (46), west of the 5th P.M., Woodbury County, Iowa and being more particularly described as follows: Commencing at the Southeast Corner of the Southeast Quarter (SE1/4) of said Section Eight (8), thence North 00° 50’54” East, along the east line of said section Eight (8), 33’ to the north line of a county roadway to the point of beginning; thence continuing along said east line, North 00° 50’54” East, 3776.02’ to the centerline of the Garretson Drainage Ditch; thence North 35° 35’48” West, along said centerline, 149.26’, thence South 00° 44’54” East 937.79’; thence South 00° 30’18” West 1284.60’; thence South 85° 32’50” West, 94.46’, thence South 01° 12’21” West 1663.22’ to the North line of a county roadway; thence South 88° 22’21” East along said North line, 159.29’ to the point of beginning. Please refer to abstract for exact legal description.


Cropland: 135.3 acres

Corn Base: 67.9 acres PLC Yield: 119 bushel

Bean Base: 63.40 acres PLC Yield: 47 bushel

This farm is classified as Non-Highly Erodible Land with the property containing a wetland or farmed wetland.

FARM LEASE: The subject property is open for the 2017 crop year. Early possession will be granted, if necessary, with the proper earnest money payment the day of the auction and a copy of the buyer’s general liability declarations page, with the subject property’s legal description stated on the declarations page.

LISTING #17104 Terms and Conditions

SALE METHOD: This property will be sold as one tract of 136 acres m/l.

IMPROVEMENTS: 4 older metal grain storage bins. All are being sold “As Is, Where Is.”

TAXES: $4254/year or $31.85/taxable acre

MINERALS: All mineral interests owned by the Seller, if any, will be conveyed to the Buyer.

EARNEST PAYMENT: A 15% earnest money payment is required on the day of the auction. The earnest payment may be paid in the form of cash or check. All funds will be held in the Mid Iowa Real Estate, Auctions, & Appraisals’ trust account or named attorney’s trust account.

POSSESSION: Possession will be granted at closing, on or about May 1, 2017.

CONTRACT AND TITLE: Immediately upon conclusion of the auction the high bidder will enter into a real estate contract and deposit with Mid Iowa Real Estate, Auctions, & Appraisals the required earnest payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon buyer financing. Seller to pay all escrow closing costs.

CLOSING: Closing will occur on or about May 1, 2017. The balance of the purchase price will be payable at closing in cash, guaranteed check, or wire transfer.

SURVEY: At the Seller’s option, the Seller shall provide a new survey where there is not an existing legal or where new boundaries are created. The Seller will be responsible for any survey costs.

BIDDER REGISTRATION: All prospective bidders must register with the auction company and receive a bidder’s number in order to bid at the auction.


SELLERS: Debra & Tom Stowers, Kathy & Mark Nordgren, & Rick Morse

This sale is subject to all easements, covenants, leases and restrictions of record. All property is sold on an “As is—Where is” basis with no warranties or guarantees, expressed or implied, made by the Realtor or Seller. All map boundaries are approximate, and photographs used may or may not depict the actual property. All bids will be on a per acre basis. Seller reserves the right to accept or reject any and all bids.

Mid Iowa Real Estate, Auctions, & Appraisals and its representatives are agents of the Seller. Winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made auction day by the Auctioneer will take precedence over any previous material or oral statements. Bidding increments are at the sole discretion of the Auctioneer. No absentee or phone bids will be accepted at the auction without prior approval of the Auctioneer. All decisions of the Auctioneer are final.