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THURSDAY, JULY 29th, 2021, at 10:00 AM





Joe Sandve (641-752-4505)

LISTING #21111

DESCRIPTION: 49 acres m/l to be offered at auction on Thursday, July 29th, 2021, at 10:00 A.M. This property consists of 49 acres m/l, of which there are approximately 48.63 taxable acres and 46.01 cropland acres m/l. This tract has an average CSR2 of 62.9, with the Marshall County average CSR2 being 74.7.

DIRECTIONS: From the intersection of Iowa Avenue E (Old Hwy #30) and South Center Street (Highway #14) in Marshalltown, go east on Iowa Avenue E approximately 1/2 mile. This property is located on the south side of Iowa Avenue E. Please watch for real estate signs.

LEGAL DESCRIPTION: (49 Acres M/L) East One-Half of the Northeast Quarter of the Northeast Quarter (E1/2 NE1/4 NE1/4), Except highway; Northwest Quarter of the Northwest Quarter (NW1/4 NW1/4), Except highway, all in Section Thirteen (13), Township Eighty-three (83) North, Range Eighteen (18), West of the 5th P.M., Marshall County, Iowa. Please refer to abstract for the exact legal description.


Cropland: 46.01 acres

Corn Base: 42.2 acres PLC Yield: 162 bu.

Bean Base: No Bean Base

This farm is classified as Highly Erodible Land, with a conservation plan in place. No Wetlands Determination is complete at this time.

ZONING: Please note that this property is presently zoned “Agricultural”. The location of this property makes it a prime location for retail or residential development. Great location to both Highway #30 and #14.

PROPERTY TAXES: $1,436/year. Property taxes will be prorated to date of closing.

IMPROVEMENTS: The improvements are field drainage tile and perimeter fence.

FARM LEASE: The subject property is presently rented for the 2021 crop year. The seller will retain 100% of the crop income or cash rent for 2021. The lease for 2022 has been terminated.

SIGN LEASE: This property does have a lease for an advertising sign located on the property. This lease calls for a payment to the owner of $1500/yr, payable in November. This payment is made in advance for the following year. The buyer will receive 100% of this payment when due. This contract is good until November 2027 per the contract. Contact the auctioneer for a copy or details of this contract.


SALE METHOD: This tract will be offered as an individual tract of 49 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 September 8, 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 September 8, 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: Kevin Hitchens

SELLERS: San Diego Charitable Real Estate Foundation

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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