FRIDAY, JANUARY 19th, 2018, at 10:00 AM
TITAN MACHINERY EXPO CENTER
3093 220th STREET
Jeffrey T. Obrecht (515-689-1648)
DESCRIPTION: 160 acres m/l to be offered at auction on Friday, January 19th, at 10:00 A.M. This property consists of 160 acres m/l, of which there are 158 taxable acres and 155.92 cropland acres. This property has an average CSR2 of 77.5, with the county average CSR2 being 82.7.
DIRECTIONS: From the Flying J Truck stop at the junction of I-35 and County D-15, go west to Ubben Avenue, then go south on Ubben Avenue ¼ mile. Property is located on the west side of Ubben Avenue. Please watch for real estate signs.
LEGAL DESCRIPTION: The South One-Half of the Northeast Quarter (S1/2 NE1/4) and the North One-Half of the Southeast Quarter (N1/2 SE1/4), all in Section One (1), Township Eighty-eight (88) North, Range Twenty-four (24), West of the 5th P.M., Hamilton County, Iowa. Please refer to abstract for exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 155.92 acres
Corn Base: 76.80 acres PLC Yield: 165 bushel
Bean Base: 76.80 acres PLC Yield: 44 bushel
This farm is classified as Non-Highly Erodible Land with no Wetlands Determination complete at this time.
FARM LEASE: Seller is to retain 100% of the 2017 cash rent. The farm lease for 2018 has not been terminated. Contact auctioneer for terms of the rental agreement for 2018.
LISTING #18101 Terms and Conditions
SALE METHOD: This property will be sold as one tract of 160 acres m/l.
IMPROVEMENTS: The subject property has some older buildings and a small grain bin. There is also a well on the property. Other improvements include field drainage tile and perimeter fence. All improvements are being sold "AS IS, WHERE IS."
TAXES: $3992/year or $25.26/taxable acre. Property taxes to be prorated to date of closing.
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 March 1, 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 March 1, 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: Mike Holt
SELLERS: Marion G. Olson 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.
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