FRANKLIN COUNTY: 137 ACRES M/L
TRACT #1 - $14,800/ACRE
TRACT #2 - $14,000/ACRE
TUESDAY, JANUARY 11, 2022, at 10:00 AM
RIDGE STONE GOLF CLUB
7 BRICKYARD ROAD
SHEFFIELD, IOWA
LISTING AGENT:
LISTING #22100
DESCRIPTION: 137 acres m/l to be offered in two individual tracts at auction on Tuesday, January 11th, 2022, at 10:00 A.M. Tract #1 consists of 43 acres m/l, of which there are 40.16 taxable acres m/l and 39.97 cropland acres m/l. Tract #2 consists of 94 acres m/l, of which there are 91.73 taxable acres m/l and 91.6 cropland acres m/l. Tract #1 has an average CSR2 of 94.5, and Tract #2 has an average CSR2 of 89, with the county average CSR2 being 80.7.
DIRECTIONS:
TRACT #1: From Sheffield, Iowa, go west on County Blacktop C-13 to county rock road Mallard Avenue, then go south on Mallard Avenue to 240th Street. Tract #1 is located in the SE corner of the intersection of Mallard Avenue and 240th Street.
TRACT #2: From Sheffield, Iowa, go west on County Blacktop C-13 to Mallard Avenue, then south on Mallard Avenue to 240th Street. Tract #2 is located in the SW corner of the intersection of Mallard Avenue and 240th Street. Please watch for real estate signs.
TRACT #1
LEGAL DESCRIPTION: (43 Acres M/L) North One-Half of the Northwest Quarter of the Northwest Quarter (N1/2 NW1/4 NW1/4); North One-Half of the Northeast Quarter of the Northwest Quarter (N1/2 NE1/4 NW1/4, all in Section Eighteen (18), Township Ninety-three (93) North, Range Twenty (20), West of the 5th P.M., Franklin County, Iowa. Please refer to abstract for the exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 39.97 acres (Est)
Corn Base: 25 acres PLC Yield: 159 bu.
Bean Base: 14 acres PLC Yield: 51 bu.
This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time.
PROPERTY TAXES: $1,500/year. Property taxes will be prorated to date of closing.
IMPROVEMENTS: This property has had some tile installed in the last several years. Tenant reserves the three bins on Tract #1 until July 1, 2022. Tenant would have an interest in renting bins from new buyer for future use. Contact auctioneer for details.
TRACT #2
LEGAL DESCRIPTION: (94 Acres M/L) NW1/4 NE1/4; N.20R SW1/4 NE1/4; N.20R SE1/4 NE1/4; NE1/4 NE1/4, Except Commencing at the NE corner of the Northeast Quarter, S. 301.88’, along the east line of the Northeast Quarter the point of beginning, thence South 567.68’, West 417.9’, North 567.68’, South 417.9’ to the point of beginning, all in Section Thirteen (13), Township Ninety-three (93) North, Range Twenty-one (21), West of the 5th P.M., Franklin County, Iowa. Please refer to abstract for the exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 91.6 acres (Est)
Corn Base: 57 acres PLC Yield: 159 bu.
Bean Base: 33 acres PLC Yield: 51 bu.
This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time.
PROPERTY TAXES: $3,074/year. Property taxes will be prorated to date of closing.
IMPROVEMENTS: This property has had some tile installed in the last several years.
TRACTS #1 & #2 FARM LEASE: Sellers are to retain all of the 2021 cash rent or crop income due for 2021. The lease for 2022 has been terminated. Buyer to reimburse tenant for input costs already applied for 2022. Contact auctioneer for details.
TERMS AND CONDITIONS
SALE METHOD: Tracts #1 & #2 will be offered as individual tracts and will not be combined. Tract #1 will be sold as 43 acres m/l and Tract #2 will be sold as 94 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 February 23, 2022, subject to the current cash rent lease and current tenant’s rights for the 2021 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 February 23, 2022. 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.
ONLINE BIDDING: All bids are dollars per acre. Please visit our website to register for online bidding. Mid Iowa Real Estate, Auctions, & Appraisals can not 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: John Coonley
SELLERS: Mary R. Peter Estate
**There will be a lunch served immediately following our 11:30AM auction of Listing #22101-76 Acres M/L. All are welcome.**
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.