FRANKLIN COUNTY: 155 ACRES M/L
$12,300/ACRE
FRIDAY, NOVEMBER 5, 2021, at 10:00 AM
LATIMER COMMUNITY CENTER
104 NORTH AKIR
LATIMER, IOWA
LISTING AGENT:
LISTING #21139
DESCRIPTION: 155 acres m/l to be offered at auction on Friday, November 5th, 2021, at 10:00 A.M. This property consists of 155 acres m/l, of which there are approximately 151.91 taxable acres and 151.13 cropland acres m/l. This tract has an average CSR2 of 80.7, with the Franklin County average CSR2 being 80.7.
DIRECTIONS: From Alexander, Iowa, go east on County Highway C-25 to Finch Avenue, then south on Finch Avenue 1 mile. This property is located on the southeast corner of the intersection of Finch Avenue and 180th Street. From Hampton, Iowa, go west on State Highway #3 to Finch Avenue, then north on Finch Avenue 2.5 miles. The subject property is located on the east side of Finch Avenue. Please watch for real estate signs.
LEGAL DESCRIPTION: (155 Acres M/L) Northwest Quarter (NW1/4) of Section Thirteen (13), Township Ninety-two (92) North, Range Twenty-two (22), West of the 5th P.M., Franklin County, Iowa, Except a tract commencing at the SW corner of the NW Quarter, thence North 268.5’ along the west line of the NW1/4 to the POB, thence N. 628’ along the west line of the NW1/4, East 305’, South 628’, thence west to the POB and Except the South 104’ of the West 104’. Please refer to abstract for the exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 151.13 acres
Corn Base: 131.7 acres PLC Yield: 163 bu.
Bean Base: 18.3 acres PLC Yield: 51 bu.
This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time.
FARM LEASE: The subject property is presently rented for the 2021 crop year. The seller will retain 100% of the crop income or cash rent on the property for 2021. The lease for 2022 has been terminated.
PROPERTY TAXES: $4,986/year.
Property taxes will be prorated to date of closing.
IMPROVEMENTS: This property is unimproved except for field drainage tile and perimeter fence.
LISTING #21139 TERMS AND CONDITIONS
SALE METHOD: This tract will be offered as an individual tract of 155 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 17, 2021, 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 December 17, 2021. 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: 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: Brian Miller
SELLERS: Paul Happel Estate
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.
