HANCOCK COUNTY: 113 ACRES M/L
TRACT #1 $14,200/ACRE
TRACT #2 $11,800/ACRE
FRIDAY, OCTOBER 14, 2022 at 10:00 AM
KLEMME PUBLIC LIBRARY
204 E MAIN STREET
DESCRIPTION: 113 acres m/l to be offered in two individual tracts at auction on Friday, October 14th, 2022, at 10:00 A.M. Tract #1 consists of 56 acres m/l, of which there are 55.44 taxable acres m/l and 52.99 cropland acres m/l. Tract #2 consists of 57 acres m/l with 56.86 taxable acres m/l and 55.75 cropland acres m/l. Tract #1 has an average CSR2 of 86.9, and Tract #2 has an average CSR2 of 78.8, with the county average CSR2 being 74.6.
DIRECTIONS: Tracts #1 and #2 are located just outside of Klemme on the west side of city limits. Tract #1 is located between Jerusalem Street and 168th Street with Highway 69 bordering the west edge of the farm. Tract #2 is located directly to the north of Jerusalem Street on the west side of the city of Klemme. Please watch for real estate signs.
LEGAL DESCRIPTION: (56 Acres M/L) North 51.93 acres of the Northwest Quarter (N 51.93A NW1/4) North of the Highway, and Aud Sub S 300’ Lot 2 and Lots 3 and 4; all in Section Thirty-one (31), Township Ninety-five (95) North, Range Twenty-three (23), West of the 5th P.M., Hancock County, Iowa. Please refer to abstract for the exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 52.99 acres
Corn Base: 68.3 acres PLC Yield: 143 bu.
Bean Base: 40.4 acres PLC Yield: 51 bu.
Base Acres and PLC Yield are for both Tract #1 & Tract #2. If the tracts are purchased by separate buyers FSA will separate these out for both fields.
This farm is classified as NHEL. Tract does not contain Wetlands.
TRACTS #1 & #2 IMPROVEMENTS: These properties are unimproved except for field drainage tile and perimeter fence. Tract #1 contains a storage shed which is considered salvage, with Tract #2 containing an older home and barn which are both considered salvage. All are being sold “AS IS.”
TRACTS #1 & #2 FARM LEASE: The seller is to retain all of the cash rent from the 2022 crop year. The lease has been terminated for the 2023 crop year.
LEGAL DESCRIPTION: (57 Acres M/L) East half of the Southwest Quarter (E1/2 SW1/4) Except the West 20 acres; all in Section Thirty (30), Township Ninety-Five (95) North, Range Twenty-three (23), West of the 5th P.M., Hancock County, Iowa. Please refer to abstract for the exact legal description.
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 56 acres m/l and Tract #2 will be sold as 57 acres m/l.
TAXES: Tract #1: $1,682/yr. Tract #2: $1,514/yr. Property taxes will be prorated to date of closing.
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 November 22, 2022, subject to the current cash rent lease and current tenant’s rights for the 2022 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 November 22, 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: 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: Tim Anderson
SELLERS: Margot Ridder 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 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.