Mid Iowa Real Estate, Auctions, & Appraisals

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FAYETTE COUNTY: 173 ACRES M/L

$1,400,000 total

 

WEDNESDAY, SEPTEMBER 5th, 2018, at 10:00 AM

OFFERED IN MULTIPLE TRACTS

HAWKEYE COMMUNITY HALL

102 E. WILBUR STREET

HAWKEYE, IOWA

 

LISTING AGENT:

Jeffrey T. Obrecht (515-689-1648)

 

LISTING #18125

DESCRIPTION:  173 acres m/l to be offered in three tracts of 114 acres m/l, 40 acres m/l and 19 acres m/l at auction on Wednesday, September 5, 2018, at 10:00 A.M.  The total property consists of 173 acres m/l, of which there are 171.39 taxable acres and 169.5 cropland acres.  These properties CSR2 ratings range from 87.5 to 89.1, with the county average CSR2 being 68.

 

TRACT #1-DIRECTIONS:  From Hawkeye, Iowa, go west on County Blacktop B-66 to V Avenue, then go south on V Avenue 1/2 mile or from West Union, Iowa, go west on State Highway #18 to V Avenue, then south on V Avenue 2.5 miles. Farm is located on the west side of V Avenue. Please watch for real estate signs.

 

TRACT #1-LEGAL DESCRIPTION:  (114 acres m/l) The East 114 acres of the Southeast Quarter (E. 114A SE1/4), all in Section Twenty-eight (28), Township Ninety-four (94) North, Range Ten (10), West of the 5th P.M., Fayette County, Iowa. Please refer to abstract for exact legal description.

*This legal description has been updated/corrected.

 

TRACT #1-FARM PROGRAM INFORMATION:

Cropland:  113 acres (Est)

Corn Base:  80.5 acres (Est)         PLC Yield:  153 bu.

Bean Base:  28.2 acres (Est)         PLC Yield:  50  bu.

 

This farm is classified as Non-Highly Erodible Land with no Wetlands Determination complete at this time. The FSA office will be responsible for splitting the acres and bases on this parcel, as the above numbers are estimates.

 

TRACT #1-PROPERTY TAXES:  $3310/year.  Property taxes will be prorated to date of closing.

 

WIND TURBINE:  There is a wind turbine on the western boundary of this Tract #1. The payment for January 2019 is estimated to be $10,717.72 and will be prorated to date of possession. Estimated proceeds for the buyer would be $2232.00 due in January 2019.

 

TRACT #2-DIRECTIONS:  From Hawkeye, Iowa, go west on County Blacktop B-66 to V Avenue, then go south on V Avenue 1/4 mile or from West Union, Iowa, go west on State Highway #18 to V Avenue, then south on V Avenue 2.25 miles. Farm is located on the east side of V Avenue. Please watch for real estate signs.

 

TRACT #2-LEGAL DESCRIPTION:  (40 acres m/l) The Southwest Quarter of the Northwest Quarter (SW1/4 NW1/4), all in Section Twenty-seven (27), Township Ninety-four (94) North, Range Ten (10), West of the 5th P.M., Fayette County, Iowa. Please refer to abstract for exact legal description.

 

TRACT #2-FARM PROGRAM INFORMATION:

Cropland:  34.5 acres (Est)

Corn Base:  27.25 acres (Est)      PLC Yield:  153 bu.

Bean Base:  9.56 acres (Est)        PLC Yield:  53 bu.

 

This farm is classified as Non-Highly Erodible Land with no Wetlands Determination complete at this time.  The FSA office will be responsible for splitting the acres and bases on this parcel, if they sell separately, as the above numbers are estimates.

 

This property has one CRP contract on 3.62 acres paying $345.60/acre until 2024 and a second contract on 1.82 acres paying $391.20 acres until 2030. Seller will retain 100% of the CRP payments due 10-1-18.

 

TRACT #2-PROPERTY TAXES:  $1190/year.  Property taxes will be prorated to date of closing.

 

WIND TURBINE EASEMENT:  There is a wind turbine easement on this property. The payment for January 2019 is estimated to be $927.17 and will be prorated to date of possession. Estimated proceeds for the buyer would be $194 due in January 2019.

 

TRACT #3-DIRECTIONS:  From Hawkeye, Iowa, go west on County Blacktop B-66 for 1.5 miles or from West Union, Iowa, go west on State Highway #18 to T Avenue, then south on T Avenue 2 miles to B-66, then west on B-66 ½ mile. Farm is located on the north side of B-66. Please watch for real estate signs.

 

TRACT #3-LEGAL DESCRIPTION:  (19 acres m/l) The West One-Half of the Southwest Quarter of the Southeast Quarter (W1/2 SW1/4 SE1/4), all in Section Twenty-three (23), Township Ninety-four (94) North, Range Ten (10), West of the 5th P.M., Fayette County, Iowa, except Parcel # 0523400007. Please refer to abstract for exact legal description.

 

TRACT #3-FARM PROGRAM INFORMATION:

Cropland:  18.5 acres (Est)

Corn Base:  18.5 acres (Est)         PLC Yield:  153 bu.

 

This farm is classified as Non-Highly Erodible Land with no Wetlands Determination complete at this time.  The FSA office will be responsible for splitting the acres and bases on this parcel, if they sell separately, as the above numbers are estimates.

 

TRACT #3-PROPERTY TAXES:  $576/year. Property taxes will be prorated to date of closing.

 

TRACTS #1, #2, & #3-FARM LEASE:  Sellers are to retain all of the 2018 cash rent.  The farm is rented for the 2019 crop year, with the buyer taking the landlords position and receiving 100% of the 2019 rent when due per the rental contract. Contact auctioneer for details.

 

LISTING #18125  Terms and Conditions

 

SALE METHOD:  This property will be sold as three single tracts of 114 acres m/l, 40 acres  m/l and 19 acres m/l. The three tracts will not be combined. 

 

IMPROVEMENTS:  Improvements include field drainage tile and perimeter fence on Tracts #1, #2, & #3 with the wind turbine located on Tract #1.

                       

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 October 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 October 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: Erin Herbold-Swalwell

 

SELLER:  Geraldine M. Hyman 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 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.

 

BROCHURE

 

AERIAL MAP - TRACT #1

AERIAL MAP - TRACT #2

AERIAL MAP - TRACT #3

 

PLAT MAP

 

SOILS MAP - TRACT #1

SOILS MAP - TRACT #2

SOILS MAP - TRACT #3

 

TILE MAP - TRACT #1

 

 

 

 

 

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