Mid Iowa Real Estate, Auctions, & Appraisals

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POWESHIEK COUNTY: 120 ACRES M/L

TRACT #1 - $6,950/acre. TRACT #2 - $3,750/acre.

 

WEDNESDAY, APRIL 25th, 2018, at 10:00 AM

DEEP RIVER COMMUNITY BUILDING

701 MAIN STREET

DEEP RIVER, IOWA

 

OFFERED IN MULTIPLE TRACTS

-PLEASE JOIN US FOR LUNCH IMMEDIATELY FOLLOWING THE AUCTION-

 

LISTING AGENT:

Jeffrey T. Obrecht (515-689-1648)

Archie Kuntz (641-510-2109)

 

LISTING #18110

DESCRIPTION:  120 acres m/l to be offered in multiple tracts at auction on Wednesday, April 25th at 10:00 A.M.  This property consists of 2 tracts of 80 acres m/l and 40 acres m/l.  These properties have average CSR2 ratings of 72.8 and 52 respectively, with the county average CSR2 being 67.

 

TRACT #1-DIRECTIONS:  From Deep River, Iowa, go east on Highway #85 approximately 1 mile to Highway #21, then south on Highway #21 approximately 1 mile. Tract #1 is located in the NE corner of the intersection of Highway #21 and 510th Avenue or on the east side of Highway #21.  Please watch for real estate signs.

 

TRACT #1-LEGAL DESCRIPTION:  (80 acres m/l) The West One-Half of the Southwest Quarter (W1/2 SW1/4) of Section Fifteen (15), Township Seventy-eight (78) North, Range Thirteen (13), West of the 5th P.M., Poweshiek County, Iowa. Please refer to abstract for exact legal description.

 

TRACT  #1:  (80 acres m/l) Consists of 74.28 tillable acres.  Average CSR2 of 72.8.  Property taxes are $1948/year.  Property taxes will be prorated to date of closing.

 

TRACT #1-FARM PROGRAM INFORMATION:

Cropland: 74.28 acres

Corn Base:  39.19 acres               PLC Yield:  121 bu.

Bean Base:  35.09 acres              PLC Yield:  46 bu.

 

This farm is classified as Highly Erodible Land with no Wetlands Determination complete at this time.  A Conservation Plan is in place.

 

TRACT #1-FARM LEASE:  The subject property is rented for the 2018 crop year on a crop share or 50/50 lease. At closing, buyer will reimburse Sellers for landlord’s crop inputs for 2018. This lease for 2018 will be terminated prior to closing for 2019.  Contact auctioneer for details.

 

TRACT #2-DIRECTIONS:  From Deep River, Iowa, go to the southwest corner of Deep River, then go west on county rock road 492nd Avenue approximately 1/4 mile. Tract #2 is located on the south side of 492nd Avenue.  Please watch for real estate signs.

 

TRACT #2-LEGAL DESCRIPTION:  (40 acres m/l)  The Southeast Quarter of the Northwest Quarter (SE1/4 NW1/4) of Section Eight (8), Township Seventy-eight (78) North, Range Thirteen (13), West of the 5th P.M., Poweshiek County, Iowa. Please refer to abstract for exact legal description.

 

TRACT #2:  (40 acres m/l) Consists of 35.15 tillable acres.  Average CSR2 of 52.  Property taxes are $684/year.  Property taxes will be prorated to date of closing.

 

TRACT #2-FARM PROGRAM INFORMATION:

Cropland:  35.15 acres

Bean Base:  16.60 acres              PLC Yield: 37 bu.

 

This farm is classified as Highly Erodible Land with no Wetlands Determination complete at this time.  A Conservation Plan is in place.

 

This tract is currently in pasture with FSA listing it with 35.15 acres of tillable land, as noted above.

 

TRACT #2-FARM LEASE:  The subject property is open for the 2018 crop year. Possession prior to closing will be allowed upon the completion of a purchase agreement, proper earnest money provided, and an insurance liability policy with the subject property named.  All leases for 2018 have been terminated.  Contact auctioneer for details.

 

LISTING #18110 Terms and Conditions

 

SALE METHOD:  This property will be sold as two individual tracts and will not be combined.  Tract # 1 will be sold as 80 acres m/l and Tract #2 will be sold as 40 acres m/l. 

 

IMPROVEMENTS:  The improvements on these tracts are perimeter fence and field drainage tile.

                       

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 June 1, 2018, subject to the current cash rent lease and current tenant’s rights for Tract #1 and early possession with a signed purchase agreement, proper earnest money, and a proper liability insurance policy in force for Tract #2.

 

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 June 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:  William Lorenz

 

SELLERS:  Phineas J. Icenbice Jr. Living 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

 

TRACT #1 - AERIAL MAP

TRACT #2 - AERIAL MAP

 

PLAT MAP

 

TRACT #1 - SOILS MAP

TRACT #2 - SOILS MAP

 

 

 

 

 

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