FRANKLIN COUNTY: 108 ACRES M/L
- The Dirt Dealer
- Oct 9
- 3 min read
Updated: Oct 15
FRIDAY, NOVEMBER 14, 2025 at 10:00 AM
LATIMER COMMUNITY CENTER
104 N AKIR STREET
LATIMER, IOWA
LISTING AGENTS:
LISTING # 25132
DESCRIPTION: 108 acres m/l to be offered at auction on Friday, November 14th, 2025, at 10:00 A.M. This property consists of 108 acres m/l, of which there are approximately 104.74 taxable acres and approximately 106.79 cropland acres. This tract has an average CSR2 of 86.1, with the Franklin County average CSR2 being 79.4.
DIRECTIONS: From Coulter, Iowa, go south on Gull Avenue approximately 1 mile to 130th Street, then go east on 130th Street for approximately 1/2 mile to Heather Avenue. The subject property is located in the southeast corner of the intersection of Heather Avenue and 130th Street. Please watch for real estate signs.
LEGAL DESCRIPTION: (108 Acres M/L) Southwest Quarter of the Northwest Quarter (SW1/4 NW1/4) and the North Half of the Northwest Quarter (N1/2 NW1/4), Except the hog confinement site, all in Section Eight (8), Township Ninety-one (91) North, Range Twenty-one (21), West of the 5th P.M., Franklin County, Iowa. Please see abstract for exact legal description.
FARM PROGRAM INFORMATION:
Due to the government shutdown, FSA Information is not available.
FARM LEASE: The seller will retain 100% of the cash rent income from the 2025 crop year. The lease for 2026 has been terminated.
IMPROVEMENTS: Improvements are field drainage tile and perimeter fence.
PROPERTY TAXES: $3,540/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 108 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 December 22, 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 December 22, 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: Stephanie L. Brick Drey
SELLERS: Julie Marie Grundberg Trust
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.
