TRACT #1 - $6,500/acre. TRACT #2 - $4,300/acre.
-OFFERED IN MULTIPLE TRACTS-
FRIDAY, FEBRUARY 8th, 2019, at 3:00 PM
LISCOMB COMMUNITY CENTER
LISTING AGENT: Jeffrey T. Obrecht (515-689-1648)
TRACT #1 - AERIAL MAP
TRACT #2 - AERIAL MAP
TRACT #1 - SOILS MAP
TRACT #2 - SOILS MAP
TRACT #2 - TILLABLE SOILS
DESCRIPTION: 187 acres m/l to be offered in two tracts at auction on Friday, February 8th, 2019, at 3:00 P.M. Tract #1 consists of 107 acres m/l of which there are 106 taxable acres and 106 cropland acres. Tract #2 consists of 80 acres m/l of which there are 77.56 taxable acres and 51 cropland acres. Tract #1 has an average CSR2 of 68.8, with Tract #2 having an average CSR2 of 56.4. The county average CSR2 for Marshall County is 74.7.
DIRECTIONS: Tract #1-From Bangor, go south on County Blacktop S-62 to 140thStreet, then go east on 140thStreet ¼ mile. Tract #1 is located on the north side of 140thStreet. Tract #2-From Bangor, go east on County Blacktop S-62 ½ mile. Tract #2 is located on the south side of S-62. Please watch for real estate signs.
TRACT #1-LEGAL DESCRIPTION: (107 acres m/l) The East One-Half of the Northeast Quarter (E1/2 NE1/4) in Section Twenty (20); Southeast Quarter of the Southeast Quarter (SE1/4 SE1/4) in Section Seventeen (17), Except the 13 acres m/l building site (Parcel A), Township Eighty-five (85) North, Range Nineteen (19), West of the 5th P.M., Marshall County, Iowa. Please refer to abstract for exact legal description.
TRACT #1-FARM PROGRAM INFORMATION:
Cropland: 106 acres (Est)
Corn Base: 80acres (Est) PLC Yield: 141 bu.
Bean Base: 24acres (Est) PLC Yield: 48 bu.
Oats Base: 2 acres (Est) PLC Yield: 76 bu.
This farm is classified as Highly Erodible Land with no Wetlands Determination complete at this time. There is a conservation plan in place on this parcel. 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.
PROPERTY TAXES: $2544/year. (Est) Property taxes will be prorated to date of closing.
TRACT #2-LEGAL DESCRIPTION: (80acres m/l) The West One-Half of the Southwest Quarter (W1/2 SW1/4) of Section Sixteen (16), Township Eighty-five (85) North, Range Nineteen (19), West of the 5th P.M., Marshall County, Iowa. Please refer to abstract for exact legal description.
TRACT #2-FARM PROGRAM INFORMATION:
Cropland: 51 acres (Est)
Corn Base: 38acres (Est) PLC Yield: 141 bu.
Bean Base: 11 acres (Est) PLC Yield: 48 bu.
Oats Base: 2 acres (Est) PLC Yield: 76 bu.
This farm is classified as Non-Highly Erodible Land with no Wetlands Determination complete at this time. A conservation plan is in place on this parcel. 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.
PROPERTY TAXES: $1502/year. Property taxes will be prorated to date of closing.
LISTING #19102 TERMS AND CONDITIONS
TRACTS #1 & #2-FARM LEASE: Sellers are to retain all of the 2018 farm income. The farm is open for 2019, as it has been owner-operated.
SALE METHOD: This property will be sold as two individual tracts and will not be combined. Tract #1 will be sold as 107 acres m/l, with Tract #2 being sold as 80 acres m/l.
IMPROVEMENTS: Improvements include field drainage tile and perimeter fence on both Tracts #1 & #2.
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.
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: 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: Marie Condon
SELLERS: Norman J. & Jill Folkerts
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.