MADISON COUNTY: 355 ACRES M/L



THIS AUCTION HAS BEEN CANCELED





LISTING AGENTS:

Jeffrey T. Obrecht (515-689-1648)

Jason Etnyre (641-373-0879)

LISTING #22117

BROCHURE


AERIAL MAP TRACT #1


AERIAL MAP TRACT #2


PLAT MAP


SOILS MAP TRACT #1


SOILS MAP TRACT #2






DESCRIPTION: 355 acres m/l to be offered in two individual tracts at auction on Thursday, June 30th, 2022, at 10:00 A.M. Tract #1 consists of 135 acres m/l, of which there are 134 taxable acres m/l and approximately 100 cropland acres m/l. Tract #2 consists of 220 acres m/l with 214 taxable acres m/l and 180 cropland acres m/l. Tract #1 has an average CSR2 of 37.2, and Tract #2 has an average CSR2 of 42.9, with the county average CSR2 being 57.6.

DIRECTIONS: Tract #1 & #2-From Truro, Iowa, go east on County Blacktop G-58 to Wildrose Avenue, then south on Wildrose Avenue 1 mile. Tracts #1 & #2 are located on the east side of Wildrose Avenue. Please watch for real estate signs.

TRACT #1

LEGAL DESCRIPTION: (135 Acres M/L) 135 Acres m/l, located in the Southwest Quarter (SW1/4), Northwest Quarter (NW1/4), Northeast Quarter (NE1/4) and in the Southeast Quarter (SE1/4) of Section Twenty-three (23), Township Seventy-four (74) North, Range Twenty-six (26), West of the 5th P.M., Madison County, Iowa, Please refer to the abstract for exact legal description.

FARM PROGRAM INFORMATION:

Cropland: 94 acres (Est)

Corn Base: 43 acres PLC Yield: 96 bu.

Bean Base: 4 acres PLC Yield: 33 bu.

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

PROPERTY TAXES: $2,000/year. (Est)

Property taxes will be prorated to date of closing.


TRACTS #1 & #2-FARM LEASE: Sellers are operating the farm for 2022 and will retain all of the 2022 crop income due for 2022. Contact the auctioneer for details.

TRACT #2

LEGAL DESCRIPTION: (220 Acres M/L) 220 acres m/l, located in the Southwest Quarter (SW1/4) and the Southeast Quarter (SE1/4) of Section Twenty-three (23) and also located in the Northeast Quarter (NE1/4) and the Northwest Quarter (NW1/4) of Section Twenty-six (26), Township Seventy-four (74) North, Range Twenty-six (26), West of the 5th P.M., Madison County, Iowa. Please refer to the abstract for exact legal description.

FARM PROGRAM INFORMATION:

Cropland: 174 acres (Est)

Corn Base: 73 acres PLC Yield: 96 bu.

Bean Base: 7 acres PLC Yield: 33 bu.

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

PROPERTY TAXES: $3,200/year. (Est) Property taxes will be prorated to date of closing.


IMPROVEMENTS: This property does have an older metal grain bin, that is being sold “As Is”. The balance of the improvements are field drainage tile and perimeter fence.

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 135 acres m/l and Tract #2 will be sold as 220 acres m/l. If the tracts are purchased by different buyers, a survey will be completed to determine the total acres on each tract, with the final purchase price to be adjusted at closing to reflect the correct number of acres on each tract.

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 1, 2022.

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 1, 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: Matt Gardner

SELLER: Me-De Irrevocable Land Trust-Mike Erwin, Trustee

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.