Mid Iowa Real Estate, Auctions, & Appraisals

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MARSHALL COUNTY: 383 ACRES M/L

TRACT #1 - $5,500/acre. TRACT #2 - $4,450/acre.

TRACT #3 - $5,650/acre. TRACT #4 - $3,100/acre.

 

-OFFERED IN MULTIPLE TRACTS-

FRIDAY, FEBRUARY 8th, 2019, at 10:00 AM

BEST WESTERN REGENCY INN

3303 SOUTH CENTER STREET

MARSHALLTOWN, IOWA

 

LISTING AGENTS:

Jeffrey T. Obrecht (515-689-1648)

Joe Sandve, Ag Land Realty (641-752-4505)

 

LISTING #19101

 

BROCHURE

 

TRACT #1 - AERIAL MAP

TRACT #2 - AERIAL MAP

TRACT #3 - AERIAL MAP

TRACT #4 - AERIAL MAP

 

PLAT MAP

 

TRACT #1 - SOILS MAP

TRACT #2 - SOILS MAP

TRACT #3 - SOILS MAP

TRACT #4 - SOILS MAP

 

 

 

DESCRIPTION: 383 acres m/l to be offered in 4 tracts of 178 acres m/l, 115 acres m/l, 40 acres m/l, and 50 acres m/l at auction on Friday, February 8, 2019, at 10:00 A.M.  The total property consists of 383 acres m/l, of which there are 375 taxable acres and 270.35 cropland acres.  This property has average CSR2’s ranging from 52.3 to 72.4, with the county average CSR2 being 74.7.

*Please note:  Tract #1 will be sold as 175 acres m/l, and not 178 acres m/l as indicated above.*

 

DIRECTIONS: From Ferguson, Iowa, go northwest on County Rock Road Smith Avenue approximately ¾ mile.  Tracts #1, #3, & #4 are located on both sides of Smith Avenue. From Marshalltown, Iowa, go south on State Highway #14 to County Blacktop E-63, then go east on E-63 to Sanford Avenue, then go north ¼ mile on Sanford Avenue. Tract #2 is located just NE of the curve ¼ mile north on Sanford Avenue.  Please watch for real estate signs.

 

TRACT #1-LEGAL DESCRIPTION: (178 acres m/l) The Southwest Quarter of the Northeast Quarter (SW1/4 NE1/4); Northwest Quarter of the Northeast Quarter (NW1/4 NE1/4); Northeast Quarter of the Northeast Quarter (NE1/4 NE1/4), all in Section One (1), Township Eighty-two (82) North, Range Eighteen (18), West of the 5th P.M., Marshall County, Iowa, and the Southwest Quarter of the Southeast Quarter (SW1/4 SE1/4); Southeast Quarter of the Southeast Quarter (SE1/4 SE1/4) West of the Highway, all in Section Thirty-six (36), Township Eighty-three (83) North, Range Eighteen (18), West of the 5th P.M., Marshall County, Iowa, Except 2 acres m/l in the NE corner of the NE1/4 NE1/4. Please refer to the abstract for exact legal description.

  

TRACT #1-FARM PROGRAM INFORMATION:

Cropland:  147 acres (Est)

Corn Base:  60 acres (Est)            PLC Yield:  151 bu.

Bean Base:  45 acres (Est)           PLC Yield:   47 bu.

 

This farm is classified as Highly Erodible Land with a conservation plan in place. No Wetlands Determination complete at this time. The FSA office will be responsible for splitting the acres and bases on this parcel, if it sells separately, as the above numbers are estimates.

 

TRACT #1-PROPERTY TAXES: $5300/year. (Est) Property taxes will be prorated to date of closing.

 

TRACT #1-IMPROVEMENTS: Older 2 story home-Salvage Value and a metal storage bin.

*Please note:  The metal storage bin is not on Tract #1, but rather on Tract #4.*

 

 

TRACT #2-LEGAL DESCRIPTION: (115 acres m/l)  The Northwest Quarter of the Southeast Quarter (NW1/4 SE1/4), North of the Railroad; Northwest Quarter of the Southwest Quarter (NW1/4 SW1/4), North of the Railroad; Northeast Quarter of the Southwest Quarter (NE1/4 SW1/4), North of the Railroad; All of the abandoned RR Right of Way running through Southwest Quarter (SW1/4) and a 100’ wide strip in the Northwest Quarter of the Southeast Quarter (NW1/4 SE1/4), all in Section One (1), Township Eighty-two (82) North, Range Eighteen (18), West of the 5thP.M., Marshall County, Iowa. Please refer to abstract for exact legal description.

 

TRACT #2-FARM PROGRAM INFORMATION:

Cropland:  90 acres (Est)

Corn Base:  39 acres (Est)           PLC Yield:  151 bu.

Bean Base:  30 acres (Est)           PLC Yield:  47 bu.

 

This farm is classified as Highly Erodible Land with a conservation plan in place. 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 #2-PROPERTY TAXES: $2790/year. (Est)  Property taxes will be prorated to date of closing.

 

TRACT #2-IMPROVEMENTS: None

 

TRACT #3-LEGAL DESCRIPTION: (40 acres m/l) Lot Two (2) in the Northwest Quarter of the Northwest Quarter (NW1/4 NW1/4) in Section Six (6), Township Eighty-two (82) North, Range Seventeen (17), West of the 5th P.M., Marshall County, Iowa. Please refer to abstract for exact legal description.

 

TRACT #3-FARM PROGRAM INFORMATION:

Cropland:   32 acres (Est)

Corn Base:  13 acres (Est)            PLC Yield:  151 bu.

Bean Base:  10 acres  (Est)          PLC Yield:  47 bu.

 

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

 

TRACT #3-PROPERTY TAXES:  $1030/year. (Est) Property taxes will be prorated to date of closing.

 

TRACT #3-IMPROVEMENTS: None

 

TRACT #4-LEGAL DESCRIPTION: (50 acres m/l) Lot Two (2) and Three (3) in the Southwest Quarter of the Southwest Quarter (SW1/4 SW1/4) in Section Thirty-one (31), Township Eighty-three (83) North, Range Seventeen (17), West of the 5th P.M., Marshall County, Iowa, and the Southeast Quarter of the Southeast Quarter (SE1/4 SE1/4) East of the Road in Section Thirty-six (36), Township Eighty-three (83) North, Range Eighteen (18), West of the 5th P.M., Marshall County, Iowa. Please refer to abstract for exact legal description.

 

TRACT #4-FARM PROGRAM INFORMATION:

Cropland:  2 acres (Est)

Corn Base:  1acres (Est)   PLC Yield:  151 bu.

Bean Base:  1acres (Est)   PLC Yield:  47 bu.

 

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

 

TRACT #4-PROPERTY TAXES:  $803/year. (Est) Property taxes will be prorated to date of closing.

 

TRACT #4-IMPROVEMENTS:  Pole Building (50’ x 60’)

*Please note:  There is a metal storage bin on Tract #4.*

 

TRACTS #1, #2, #3, #4-FARM LEASE:  Sellers are to retain all of the 2018 cash rent.  The farm is leased for the 2019 crop season on a crop share lease. Contact the auctioneer for details. The lease for 2020 has been terminated.

 

LISTING #19101  TERMS AND CONDITIONS

 

SALE METHOD: All four tracts will be sold separately and will not be combined.  Tract #1 will be sold as 178 acres m/l, Tract #2 will be sold as 115 acres m/l, Tract #3 will be sold as 40 acres m/l, and Tract #4 will be sold as 50 acres m/l. 

*Please note:  Tract #1 will be sold as 175 acres m/l, and not 178 acres m/l as indicated above.*

 

IMPROVEMENTS: Improvements include field drainage tile and perimeter fence on all tracts. 

                        

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 15, 2019, subject to the current cash rent lease and current tenant’s rights for the 2019 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 15, 2019.  The balance of the purchase price will be payable at closing in cash, guaranteed check, or wire transfer.

 

SURVEY: If the tracts sell separately, the seller will provide a survey to show the legal description of each parcel and the boundaries of each tract. As described above, Tract #1 will be 178 acres m/l, Tract #2 will be 115 acres m/l, Tract #3 will be 40 acres m/l and Tract #4 will be 50 acres m/l. There will be no adjustment of purchase price if acres in each parcel vary, as each parcel is being sold as “More or Less”.  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: Larry McKibben

 

SELLERS: Carol Gossard, Donald & Joelyne Stackhouse, Beverly McFarland, Janeen Stackhouse

 

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.

 

 

 

 

 

 

 

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