Mid Iowa Real Estate, Auctions, & Appraisals

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WRIGHT COUNTY: 322 ACRES M/L

TRACT #1 - $4,000/acre. TRACT #2 - $3,000/acre.

 

FRIDAY, JULY 14th, 2017, at 10:00 AM

DOWS COMMUNITY CENTER

DOWS, IOWA

 

LISTING AGENT:

Jeffrey T. Obrecht (515-689-1648)

 

LISTING #17116

TRACT #1-DESCRIPTION: This property consists of 162 acres m/l, of which there are 156 taxable acres and 143.5 cropland acres.  This property has an average CSR2 of 65.1, with the county average CSR2 being 82.2.

 

TRACT #1-DIRECTIONS: From Dows, Iowa, go south on R-75 approximately 1 mile to 280th Street, then west on 280th Street to Union Avenue. Property is located in the southeast corner of the intersection of 280th Street and Union Avenue.  Please watch for real estate signs.

 

TRACT #1-LEGAL DESCRIPTION: The Northwest Fractional Quarter (NW Frl. 1/4) of Section Four (4), Township Ninety (90) North, Range Twenty-three (23), West of the 5th P.M., Wright County, Iowa.  Please refer to abstract for exact legal description.

 

TRACT #1-FARM PROGRAM INFORMATION:

Cropland: 143.5 acres

Corn Base: 73.2 acres   PLC Yield:  135 bushel

Bean Base: 33.6 acres  PLC Yield:  41 bushel

 

This farm has two CRP contracts in place at this time. #1687 involves 2 acres and is bid in at $136.20/acre or $272/year until 2019.  The second contract involves 34.70 acres and is bid in at $138.10/acre or $4792/year until 2019.  The farm does have a 3rd CRP contract that will take effect this fall. This contract will be assigned to the new buyer. This contract involves 96.81 acres bid in at $286.96/acre for a total of $27,781/year until 2027.  The incentive payment for this contract will be paid to the buyers at closing which is approximately $14,522.  The CRP payment on the original CRP contracts due 10-1-17 will be retained by the Sellers.

 

This farm is classified as Highly Erodible Land with a conservation plan in place.  No Wetlands Determination is complete at this time.

 

TRACT #1-PROPERTY TAXES: $2538/year or $16.26/acre.  Property taxes will be prorated to date of closing.

 

TRACT #2-DESCRIPTION: This property consists of 160 acres m/l, of which there are 154 taxable acres and 142.11 cropland acres.  This property has an average CSR2 of 53.7, with the county average CSR2 being 82.2.

 

TRACT #2-DIRECTIONS: From Dows, Iowa, go south on R-75 approximately 1 mile to 280th Street, then west on 280th Street to Union Avenue, then south ½ mile. The subject property is located on the east side of Union Avenue.  Please watch for real estate signs.

 

TRACT #2-LEGAL DESCRIPTION: The Southwest Quarter (SW1/4) of Section Four (4), Township Ninety (90) North, Range Twenty-three (23), West of the 5th P.M., Wright County, Iowa.  Please refer to abstract for exact legal description.

 

TRACT #2-FARM PROGRAM INFORMATION:

Cropland: 142.11 acres

Corn Base: 68.8 acres   PLC Yield:  135 bushel

Bean Base: 20.3 acres  PLC Yield:  41 bushel

 

This farm has two CRP contracts in place at this time. #1645 involves 31.80 acres and is bid in at $121.11/acre or $3851/year until 2019.  The second contract involves 21.20 acres and is bid in at $192.89/acre or $4089/year until 2023.  The CRP payment due on 10-1-17 will be retained by the Sellers.

 

This farm is classified as Highly Erodible Land with a conservation plan in place.  No Wetlands Determination is complete at this time.

 

TRACT #2-PROPERTY TAXES: $2640/year or $17.14/acre.  Property taxes will be prorated to date of closing.

 

TRACT #1 & TRACT #2: FARM LEASE: The subject properties are rented for the 2017 crop year, with Sellers retaining the first half of the 2017 cash rent, with the second half of the rent to be paid to the buyer when due.  Tract #1 has 109.2 acres being cash rented for 2017 and Tract #2 has 89.11 acres being cash rented.  The farm lease for 2018 has been terminated.  Contact auctioneer for details of lease.

 

LISTING #17116  Terms and Conditions

 

SALE METHOD: These properties will be sold as two individual tracts and will not be combined.  Tract #1 will be sold as 162 acres m/l and Tract #2 will be sold as 160 acres m/l.  

 

IMPROVEMENTS: Tract #2: Older out buildings being sold “AS IS, WHERE IS.”

 

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 named attorney’s trust account.

 

POSSESSION: Possession will be granted at closing, on or about September 1, 2017, subject to the current cash rent lease and current tenant’s rights for the 2017 crop year.

 

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 September 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.

 

ATTORNEYS: Mike Holt and Robert Malloy

 

SELLERS: Tract #1: Cathleen Bleakly, Margaret Bleakly, and Douglas Bleakly

                  Tract #2: Elpha June Hanson 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.

 

BROCHURE

 

AERIAL MAP - TRACT 1

AERIAL MAP - TRACT 2

 

PLAT MAP

 

SOIL MAP - TRACT 1

SOIL MAP - TRACT 2

 

ADDITIONAL INFORMATION

 

 

 

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