WEDNESDAY, APRIL 5th, 2017, at 10:00 A.M.
LISCOMB COMMUNITY CENTER
Jeffrey T. Obrecht (515-689-1648)
DESCRIPTION: 98 acres m/l to be sold at auction on Wednesday, April 5, at 10:00 A.M. This property consists of 98 acres m/l, of which there are 95.24 taxable acres and 97.71 cropland acres. This property has an average CSR2 of 89.1, with the county average CSR2 being 74.7.
DIRECTIONS: From Liscomb, Iowa, go south on County Blacktop S-75 to county rock road 148th Street, then west on 148th Street 3/4 mile, then north on Langford Avenue 1/4 mile, then west on 148th Street ½ mile. Property is located in the SW corner of the intersection of Lafayette Avenue and 148th Street. From Albion, Iowa, go north on #330 to 160th Street, then west and north on 160th Street to 148th Street, then west on 148th Street 3/4 mile, then north on Langford Avenue 1/4 mile, then west on 148th Street 1/2 mile. Subject property is located in the SW corner of the intersection of 148th Street and Lafayette Avenue. Please watch for real estate signs.
LEGAL DESCRIPTION: That Part of the Southwest Quarter of the Southeast Quarter (SW1/4 SE1/4) of Section Twenty-six (26) lying West of the road; Part of the Northeast Quarter of the Northwest Quarter (NE1/4 NW1/4), Except commencing 30’ East of the NW corner of the NW1/4 NE1/4, thence West 30’, South 30’, thence back to the point of beginning; that Part of the Northwest Quarter of the Northeast Quarter (NW1/4 NE1/4) lying West of the road, all in Section Thirty-five (35), Township Eighty-five (85) North, Range Nineteen (19), West of the 5th P.M., Marshall County, Iowa. Please refer to abstract for exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 97.71 Acres
Corn Base: 46.55 acres PLC Yield: 159 bushel
Bean Base: 46.55 acres PLC Yield: 46 bushel
This farm is classified as NHEL with the Wetlands Determination incomplete at this time.
FARM LEASE: The subject property is rented for the 2017 crop year on a 50/50 crop share basis. The purchaser, at closing, shall reimburse the present owner for crop inputs up to the date of closing. Contact auctioneer for details on those expenses. This lease will be terminated by the present owner for 2018 prior to the closing.
Terms and Conditions
SALE METHOD: This property will be sold as one tract of 98 acres m/l.
IMPROVEMENTS: Perimeter fences and field tile are the only improvements on this property.
TAXES: $3530/year or $37.06/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 15, 2017, subject to the current tenant’s rights.
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 15, 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.
ATTORNEY: Mike Holt
SELLER: Arney 2007 Revocable Trust
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.