FRIDAY, DECEMBER 22nd, 2017, at 10:00 AM





Jeffrey T. Obrecht (515-689-1648)

LISTING #17129

DESCRIPTION: 160 acres m/l to be offered at auction on Friday, December 22nd, 2017, at 10:00 A.M. This property consists of 160 acres m/l, of which there are 158 taxable acres and 134.8 cropland acres. This property has an average CSR2 of 77.7, with the county average CSR2 being 80.7.

DIRECTIONS: From the northeast corner of Sheffield on Highway #65, go east on County Blacktop C-13 (cemetery corner) to Thrush Avenue, then go south on Thrush Avenue 1/4 mile. Property is located on the east side of Thrush Avenue. Please watch for real estate signs.

LEGAL DESCRIPTION: The South One-Half of the Southwest Quarter (S1/2 SW1/4) of Section Five (5); North One-Half of the Northwest Quarter (N1/2 NW1/4) of Section Eight (8), Township Ninety-three (93) North, Range Nineteen (19), West of the 5th P.M., Franklin County, Iowa. Please refer to abstract for exact legal description.


Cropland: 134.8 acres

Corn Base: 71.6 acres PLC Yield: 114 bu.

Bean Base: 63.2 acres PLC Yield: 37 bu.

This farm is classified as Non-Highly Erodible Land with no Wetlands Determination complete at this time.

FARM LEASE: The farm is leased for 2018. Buyer to receive 100% of the 2018 rent. Please contact auctioneer for details.

LISTING #17129 Terms and Conditions

SALE METHOD: This property will be sold as one tract of 160 acres. Total purchase price will be calculated by 160 acres times the highest bid accepted.

IMPROVEMENTS: The subject property is presently unimproved except for drainage tile and perimeter fence. There are numerous hardwood trees planted on the south 80 acres where the acreage previously was located. These are mature or near maturity for possible harvesting.

TAXES: $3896/year or $24.66/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 named attorney’s trust account.

POSSESSION: Possession will be granted at closing, on or about January 31, 2018, subject to the current cash rent lease and current tenant’s rights for the 2018 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 January 31, 2018. 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: Collin Davison

SELLERS: Walter A. Stover Jr. 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. 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.