Mid Iowa Real Estate, Auctions, & Appraisals

Licensed to sell real estate in Iowa

© 2017-2018 Mid Iowa Real Estate, Auctions, & Appraisals. Information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable, but not guaranteed.

MADISON COUNTY: 260 ACRES M/L

$3,850/acre

 

OFFERED IN MULTIPLE TRACTS

FRIDAY, SEPTEMBER 6th, 2019, at 10:00 AM

EARLHAM COMMUNITY CENTER

EARLHAM, IOWA

 

LISTING AGENT:  Jeffrey T. Obrecht (515-689-1648)

 

LISTING #19121

 

 

BROCHURE

 

TRACT #1 - AERIAL MAP

TRACT #2 - AERIAL MAP

 

PLAT MAP

 

TRACT #1 - SOILS MAP

TRACT #2 - SOILS MAP

 

 

DESCRIPTION: 260 acres m/l to be offered in two tracts of 160 acres m/l (Tract #1) and 100 acres m/l (Tract #2) at auction on Friday, September 6, 2019, at 10:00 A.M.  The total property consists of 260 acres m/l, of which there are 251.48 taxable acres m/l and 161.02 cropland acres m/l.  This property has average CSR2 of 58.7 with the county average CSR2 being 58.5.

 

DIRECTIONS: From Earlham, Iowa, go west on County Blacktop G-14 to County Blacktop P-53, then go south on P-53 5.5 miles to 160th Street, then go west on 160th Street to Creamery Road, then go south on Creamery Road 1 mile to 170th Street. Tract #2 is located in the SE Corner of the intersection of Creamery Road and 170th Street, with Tract #1 located 1/2 mile east. Please watch for real estate signs.

 

TRACT #1

LEGAL DESCRIPTION: (160 acres m/l) The Northeast Quarter (NE1/4), all in Section Eight (8), Township Seventy-six (76) North, Range Twenty-nine (29), West of the 5th P.M., Madison County, Iowa.  Please refer to abstract for exact legal description. This property consists of 160 gross acres m/l, with approximately 155.3 taxable acres and 126.02 crop acres m/l. This property has an average CSR2 rating of 63.7, with the county average being 58.5.

 

FARM PROGRAM INFORMATION:

Cropland:   126.02 acres (Est) 

Corn Base:  46acres                     PLC Yield:  140 bu.

Bean Base: 46 acres                    PLC Yield:   45 bu.

Oats Base:  2.5 acres                   PLC Yield:   44  bu.

 

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

 

PROPERTY TAXES: $2900/year. Property taxes will be prorated to date of closing.

 

IMPROVEMENTS: Perimeter fence and field drainage tile.

 

TRACT #2

LEGAL DESCRIPTION: (100 acres m/l) North 100 Acres of the Northwest Quarter (N. 100A. NW1/4) in Section Eight (8), Township Seventy-nine (93) North, Range Twenty-nine (29), West of the 5th P.M. Madison County, Iowa. Please refer to the abstract for exact legal description.  This property consists of 100 gross acres, with approximately 96.18 taxable acres and 35.11 crop acres m/l. This property has an average CSR2 rating of 50.9, with the county average being 58.5.

 

FARM PROGRAM INFORMATION:

Cropland:  35 acres  (Est)

Corn Base:  11acres                    PLC Yield:  140 bu.

Bean Base:  11 acres                   PLC Yield:   45  bu.

Oats Base:  2.5 acres                   PLC Yield:  44 bu.

 

This farm is classified as Highly Erodible Land. 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.

 

PROPERTY TAXES: $1418/year. Property taxes will be prorated to date of closing.

 

IMPROVEMENTS: This property has a pole barn, round steel storage bins, and some other older buildings. Perimeter fence, ponds, and field drainage tile are also improvements on this property.

 

LISTING #19121  TERMS AND CONDITIONS

 

TRACTS#1& #2-FARM LEASE: Sellers are to retain all of the 2019 cash rent. The lease for 2020 has been terminated.

 

WIND TURBINE EASEMENT: Please note that these tracts have an easement to build two wind turbines, with the wind easement on both properties.  Both turbines are to be located on Tract #1.  Contact auctioneer for more details.

 

SALE METHOD UPDATED: Tract #1 will be sold as 160 acres m/l, Tract #2 will be sold as 100 acres m/l, and total combination of 260 acres m/l will offered.

 

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, 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 October 15, 2019.  The balance of the purchase price will be payable at closing in cash, guaranteed check, or wire transfer.

 

SURVEY: If Tract #1 & Tract #2 are purchased by the same buyer, no survey will be completed to split the property. If the tracts do sell to separate buyers, the boundary between the two tracts will be located only, with a full survey of each property not completed. 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: Samuel H. Braland

 

SELLER: Ray M. Lenocker Trust - Susan Clark, Trustee

 

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.

 

 

 

 

 

 

 

Share on Facebook
Share on Twitter
Please reload