FRIDAY, MAY 26th, 2017, at 10:00 A.M.
KLEMME PUBLIC LIBRARY
204 E MAIN STREET
Jeffrey T. Obrecht (515-689-1648)
DESCRIPTION: 76 acres m/l to be sold at auction on Friday, May 26th, at 10:00 A.M. This property consists of 76 acres m/l, of which there are 73.26 taxable acres and 72.43 cropland acres. This property has an average CSR2 of 83.8, with the county average CSR2 being 78.7.
DIRECTIONS: From Corwith, Iowa, go east on County Blacktop B-55 to County Blacktop
R-26, then south on R-26 to 130th Street. The property is located in the NW corner of the intersection of R-26 and 130th Street. From Kanawha, Iowa, go west on County Blacktop B-63 to County Blacktop R-26, then go north to 130th Street. The property is located in the NW corner of the intersection R-26 and 130th Street. Please watch for real estate signs.
LEGAL DESCRIPTION: The South One-Half of the Southeast Quarter (S1/2 SE1/4) in Section Fourteen (14), Township Ninety-four (94) North, Range Twenty-six (26), West of the 5th P.M., Hancock County, Iowa, except Parcel #1314451000. Please refer to abstract for exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 72.43 Acres
Corn Base: 36.9 acres PLC Yield: 178 bushel
Bean Base: 35.5 acres PLC Yield: 47 bushel
This farm is classified as Non-Highly Erodible Land. The property does not have a Wetlands Determination at this time.
FARM LEASE: The subject property is rented for the 2017 crop year. Seller will retain the 1st half of the cash rent for 2017, with the buyer receiving the 2nd half of the cash rent for 2017. Contact auctioneer for other lease details. The current lease will be terminated by the present owner for 2018 prior to closing.
Terms and Conditions
SALE METHOD: This property will be sold as one tract of 76 acres m/l.
IMPROVEMENTS: Perimeter fences and field tile are the only improvements on this property.
TAXES: $1812/year or $24.73/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 July 1, 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. The sale of this property is subject to Court Approval.
CLOSING: Closing will occur on or about July 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.
ATTORNEY: Gary Berkland
SELLER: Maurine M. VerHelst Estate
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. SALE IS SUBJECT TO COURT APPROVAL.
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.
DRAINAGE DISTRICT MAP