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THURSDAY, AUGUST 22, 2024 at 1:00 PM





LISTING # 24115

DESCRIPTION:  164 acres m/l to be offered at auction on Thursday, August 22nd, 2024, at 1:00 P.M. This property consists of 164 acres m/l, of which there are approximately 160.43 taxable acres and 160.69 cropland acres m/l. This tract has an average CSR2 of 92.9, with the Franklin County average CSR2 being 79.4.  


DIRECTIONS:  From Geneva, Iowa, go south on County Highway S-56 and follow it east for 1 mile to Timber Ave., then go south on Timber Ave. for approximately 1/2 mile. The subject property is located on the west side of Timber Ave or in the NW corner of the intersection of Timber Ave. and 85th Street. Please watch for real estate signs. 


LEGAL DESCRIPTION:  (164 Acres M/L) Northeast Quarter of the Northwest Quarter (NE1/4 NW1/4) East of the RR; Southeast Quarter of the Northwest Quarter (SE1/4 NW1/4) East of the RR; Northeast Quarter (NE1/4) East of the RR, Except Parcel # 1232200009, all in Section Thirty-two (32), Township Ninety-one (91) North, Range Nineteen (19), West of the 5th P.M., Franklin County, Iowa. Please see abstract for exact legal description. 



Cropland:  160.69 acres  

Corn Base:  80.60 acres PLC Yield:  179 bu. 

Bean Base:  80.09 acres PLC Yield:    54 bu. 


This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time.  


FARM LEASE:  The subject property is leased for the 2024 crop year. Sellers are to retain all of the cash rent or crop income due for the 2024 crop year. The lease for 2025 has been terminated.  


IMPROVEMENTS:  Improvements are field drainage tile and perimeter fence.  


PROPERTY TAXES:  $5,912/year. Property taxes will be prorated to date of closing. 




SALE METHOD:  This tract will be offered as an individual tract of 164 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 October 18, 2024. 


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 18, 2024. 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 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:  Amy Swanson 


SELLERS:  Vivian M. Kloetzer 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. 



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