TUESDAY, MAY 15th, 2018, at 10:00 AM
FRANKLIN COUNTY CONVENTION CENTER
FRANKLIN COUNTY FAIRGROUNDS
Jeffrey T. Obrecht (515-689-1648)
Joe Sandve (641-752-4505)
DESCRIPTION: 150 acres m/l to be offered at auction on Tuesday, May 15th, 2018, at 10:00 A.M. This property consists of 150 acres m/l, of which there are 148.38 taxable acres and 146.78 cropland acres. This property has an average CSR2 of 84, with the county average CSR2 being 80.7.
DIRECTIONS: From Hansell, Iowa, go east on 160th Street approximately 1 mile to Vine Avenue, then go ½ mile north or from Hampton, Iowa, go east on Highway #3 to Vine Avenue, then go 2 miles north on Vine Avenue. Property is located on the east side of county rock road Vine Avenue. Please watch for real estate signs.
LEGAL DESCRIPTION: The Northwest Quarter (NW1/4), Except Parcel #0822100006, of Section Twenty-two (22), Township Ninety-two (92) North, Range Nineteen (19), West of the 5th P.M., Franklin County, Iowa. Please refer to abstract for exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 146.78 acres
Corn Base: 77.90 acres PLC Yield: 151 bu.
Bean Base: 68.60 acres PLC Yield: 45 bu.
This farm is classified as Non-Highly Erodible Land, with no Wetlands Determination complete at this time.
FARM LEASE: The subject property is rented for the 2018 crop year, with Sellers retaining the 1st one-half of the 2018 cash rent and the Buyer receiving the 2nd half of the cash rent due 12-1-18. The farm lease for 2019 has been terminated. Contact auctioneer for details of lease.
LISTING #18116 Terms and Conditions
SALE METHOD: This property will be sold as one tract of 150 acres more or less.
IMPROVEMENTS: The subject property is unimproved except for perimeter fence, field drainage tile and terraces.
TAXES: $4666/year or $31.78/taxable acre. Property taxes will 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 June 15, 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 June 15, 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: Richard Bordwell
SELLERS: Michael Cundey
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 potential buyers are urged perform their due diligence on the subject property prior to the auction. All map boundaries are approximate, and photographs used may or may not depict the actual property. Total tract acres, tillable acres, FSA acres, etc. are approximate and may be subject to change. 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.