POLK COUNTY: 157 ACRES M/L
FRIDAY, DECEMBER 9, 2022, at 10:00 AM
515 N MAIN AVE
DESCRIPTION: 157 acres m/l to be offered at auction on Friday, December 9th, 2022, at 10:00 A.M. This property consists of 157 acres m/l, of which there are approximately 156 taxable acres and 155.32 cropland acres m/l. This tract has an average CSR2 of 75.8, with the Polk County average CSR2 being 63.9.
DIRECTIONS: From Alleman, Iowa, go west on County Blacktop NW 142nd Avenue to County Blacktop NW 44th Street, then south on NW 44th Street 1 mile. The subject property is located in the SE corner of the intersection of NW 44th Street and NW 134th Avenue. From Polk City, Iowa, go east on County Blacktop NW 118th Avenue to NW 44th Street, then north 1.5 miles. The subject property is located on the east side of NW 44th Street. Please watch for real estate signs.
LEGAL DESCRIPTION: (157 Acres M/L) Northwest Quarter (NW1/4) of Section Twenty-nine (29), Township Eighty-one (81) North, Range Twenty-four (24), West of the 5th P.M., Polk County, Iowa, Except an approximate 3 acre building site in the NW1/4 NW1/4. Please refer to abstract for the exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 155.32 acres
Corn Base: 99.2 acres PLC Yield: 128 bu.
Bean Base: 22.5 acres PLC Yield: 40 bu.
This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time.
FARM LEASE: The subject property is rented for the 2022 crop year with the seller retaining 100% of the cash rent or crop income from the subject property for 2022. The lease for 2023 has been terminated.
IMPROVEMENTS: Improvements are field drainage tile and perimeter fence.
TERMS AND CONDITIONS
SALE METHOD: This tract will be offered as an individual tract of 157 acres m/l.
TAXES: $5,830/year (Est)
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 January 13, 2023, 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 January 13, 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: Laura Luetje
SELLERS: OH and Iowa Mack Co.
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.