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LISTING #21143


DESCRIPTION: 140 acres m/l to be offered at auction on Friday, November 19th, 2021, at 3:00 P.M. This property consists of 140 acres m/l, of which there are approximately 136.44 taxable acres and 132.6 cropland acres m/l. This tract has an average CSR2 of 84.3, with the Hancock County average CSR2 being 75.

DIRECTIONS: From Kanawha, Iowa, go north on County Highway R-35 to 180th Street or County Highway B-55 or from Britt, Iowa, go south on County Highway R-35 to County Highway B-55. This property is located in the SW corner of the intersection of County Highway B-55 & County Highway R-35. Please watch for real estate signs.

LEGAL DESCRIPTION: (140 Acres M/L) Northeast Fractional Quarter (NE Frl. 1/4) of Section Four (4), Township Ninety-four (94) North, Range Twenty-five (25), West of the 5th P.M., Hancock County, Iowa. Please refer to abstract for the exact legal description.


Cropland: 132.6 acres

Corn Base: 66.3 acres PLC Yield: 155 bu.

Bean Base: 66.3 acres PLC Yield: 44 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. Seller to retain 100% of the cash rent or crop income for the 2021 crop year. The lease for 2022 has been terminated.


SALE METHOD: This tract will be offered as an individual tract of 140 acres m/l.

TAXES: $3,724/year. Property taxes will be prorated to date of closing.

IMPROVEMENTS: The improvements are some older grain storage bins and some other buildings which add no value to the subject. All are being sold “As Is.” Other improvements are field drainage tile and perimeter fence.

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 30, 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 30, 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: Gary Berkland

SELLER: Logterman Family Trust

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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