FRIDAY, MARCH 1st, 2019, at 10:00 AM
OAKLAND ACRES GOLF CLUB
13476 HIGHWAY #6 EAST
LISTING AGENTS: Jeffrey T. Obrecht (515-689-1648)
Archie Kuntz (641-510-2109)
DESCRIPTION: 35 acres m/l to be offered at auction on Friday, March 1st, 2019, at 10:00 A.M. The total property consists of a single tract of 35 acres m/l, of which there are 34.4 taxable acres and 36.54 cropland acres. This tract has an average CSR2 of 81.9, with the county average being 67.8 for Jasper County.
DIRECTIONS: From Newton, Iowa, go east on State Highway #6 to County Highway T-38. Subject property is located in the SW corner of the intersection of T-38 and State Highway #6 or from Grinnell, go west on State Highway #6 to County Highway T-38. Subject property is located in the SW corner of the intersection of T-38 and State Highway #6. Please watch for real estate signs.
LEGAL DESCRIPTION: (35 acres m/l) The Northeast Quarter of the Northeast Quarter (NE1/4 NE1/4) in Section Twenty-seven (27) in Township Eighty (80) North, Range Seventeen (17), West of the 5th P.M., Jasper County, Iowa, Except Parcel C. Please refer to abstract for exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 36.54 acres*
Corn Base: 25.00acres PLC Yield: 120 bu.
Oats Base: 1.27acres PLC Yield: 51 bu.
Of the 36.54 crop acres, there are presently 2.25 acres in CRP. The CRP contract is for 2.25 acres at $253.28/acre or $570/yr until 2022. This farm is classified as Highly Erodible Land with no Wetlands Determination complete at this time.
*Note that the FSA acres are more than the acres that are being sold, which is not unusual.
FARM LEASE: The subject property has been owner operated and is open for the 2019 crop year. Current owner does have an interest in renting the property back from the purchaser on a cash rent basis.
SALE METHOD: This property will be sold as a single tract of 35 acres m/l.
IMPROVEMENTS: Improvements include field drainage tile and perimeter fence.
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 22, 2019. The farm lease has been terminated so possession will be given at closing.
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 22, 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: Mike Mahaffey
SELLERS: Jeffrey N. & Annette Gritsch
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.