FRANKLIN COUNTY: 105 ACRES M/L
- $11,700/ACRE
- Sep 17
- 4 min read
$11,700/ACRE
WEDNESDAY, SEPTEMBER 17, 2025 at 2:00 PM
LATIMER COMMUNITY CENTER
104 N AKIR STREET
LATIMER, IOWA
LISTING AGENTS:
LISTING # 25129
DESCRIPTION: 105 acres m/l to be offered at auction on Wednesday, September 17th, 2025, at 2:00 P.M. This property consists of 105 acres m/l, of which there are 101.74 taxable acres m/l and 96.72 cropland acres m/l. This tract has an average CSR2 of 82.9, with the Franklin County average CSR2 being 79.4.
DIRECTIONS: From Latimer, Iowa, go north on County Blacktop S-25 to 230th Street, then go west on 230th Street 1/2 mile. The subject property is located on the south side of 230th Street. Please watch for real estate signs.
LEGAL DESCRIPTION: (105 Acres M/L) Parcel "B"-North 1746.38' of the Northwest Quarter (NW1/4) (Survey 2018-1523), all in Section Twenty-four (24), Township Ninety-three (93) North, Range Twenty-two (22), West of the 5th P.M., Franklin County, Iowa. Please refer to the abstract for the exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 96.72 acres
Corn Base: 60.09 acres PLC Yield: 153 bu.
Bean Base: 33.17 acres PLC Yield: 47 bu.
This farm is classified as Non-Highly Erodible Land. Tract does not have a Wetland Determination at this time.
FARM LEASE: The subject property is rented for the 2025 crop year. The seller will retain 100% of the 2025 crop income or cash rent on the subject property. The lease for 2026 has been terminated.
IMPROVEMENTS: This property does have some older improvements which are considered to be salvage, all are being sold “As Is”. Other improvements are field drainage tile and perimeter fence.
PROPERTY TAXES: $3,492/year. Property taxes will be prorated to date of closing.
TERMS AND CONDITIONS
SALE METHOD: This tract will be offered as an individual tract of 105 acres m/l.
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 November 1, 2025, subject to the current cash rent lease and current tenant’s rights for the 2025 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 on advertised tract only.
CLOSING: Closing will occur on or about November 1, 2025. 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 on advertised tract only.
BIDDER REGISTRATION: All prospective bidders must register with the auction company and receive a bidder’s number in order to bid at the auction.
ONLINE BIDDING: Please visit our website to register for online bidding. Mid Iowa Real Estate, Auctions, & Appraisals cannot be held liable for any technical difficulties relating to the server, software, internet, or other online auction-related technologies. Bidders shall have no claims against the auction company or Sellers if their bids are not accepted.
ATTORNEY: Art Cady
SELLERS: Susan & Peter Grett
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 to 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.
