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FRANKLIN COUNTY: 77 ACRES M/L


$9200/ACRE


TUESDAY, OCTOBER 31, 2023 at 10:00 AM

FRANKLIN COUNTY CONVENTION CENTER

1008 CENTRAL AVE W

HAMPTON, IOWA

LISTING AGENTS:

Kellen Suntken (515-571-8565)

LISTING #23129







DESCRIPTION: 77 acres m/l to be offered at auction on Tuesday, October 31st, 2023, at 10:00 A.M. This property consists of 77 acres m/l, of which there are approximately 74.21 taxable acres and 73.11 cropland acres m/l. This tract has an average CSR2 of 79.1, with the Franklin County average CSR2 being 80.7.

DIRECTIONS: From Coulter, Iowa, go south on County Blacktop S-25 to 130th Street, then east on 130th Street to Jonquil Avenue. The subject property is located in the NE corner of the intersection of 130th Street and Jonquil Avenue. Please watch for real estate signs.


LEGAL DESCRIPTION: (77 Acres M/L) Southwest Quarter of the Southwest Quarter (SW1/4 SW1/4), Except Parcel B (Survey 2016-0847); Southeast Quarter of the Southwest Quarter (SE1/4 SW1/4), Except Parcel B (Survey 2016-0847), all in Section Three (3), 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:

Cropland: 73.11 acres

Corn Base: 68.54 acres PLC Yield: 144 bu.

Bean Base: None


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


This property has 4.24 acres of the 73.11 acres m/l in CRP bid in at $289.13/acre or $1,227.00/year until 2027.


FARM LEASE: The subject property is rented for the 2023 crop year. The sellers will retain 100% of the cash rent or crop income for the 2023 crop year. The lease for 2024 has been terminated.


PROPERTY TAXES: $2,202/year. Property taxes will be prorated to date of closing.


IMPROVEMENTS: Improvements are field drainage tile and perimeter fence.


WIND EASEMENT: This property has a wind easement with no turbines present at this time. Contact auctioneer for details.

TERMS AND CONDITIONS

SALE METHOD: This tract will be offered as an individual tract of 77 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 15, 2023, subject to the current cash rent lease and current tenant’s rights for the 2023 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 15, 2023. 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: Richard Bordwell


SELLERS: Keith Stratmann, Linda Modderman, Alan Stratmann, Joshua Stratmann, Trevor Stratmann, and spouses.


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.


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