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POWESHIEK COUNTY: 120 ACRES M/L


FRIDAY, SEPTEMBER 6, 2024 at 10:00 AM
MICHAEL J MANATT COMMUNITY CENTER

105 JACKSON STREET

BROOKLYN, IOWA


LISTING AGENTS:

LISTING # 24114








DESCRIPTION:  120 acres m/l to be offered at auction on Friday, September 6th, 2024, at 10:00 A.M. This property consists of 120 acres m/l, of which there are approximately 117 taxable acres and 108 cropland acres m/l. This tract has an average CSR2 of 58 with the Poweshiek County average CSR2 being 67.9.

 

DIRECTIONS:  From Brooklyn, Iowa, go north on County Highway V-18 to Highway # 6, then go west on Highway # 6 to County Blacktop V-16, then go north on V-16 to 320th Avenue. The subject property is located in the NW corner of 320th Avenue and 150th Street. Please watch for real estate signs.

 

LEGAL DESCRIPTION:  (120 Acres M/L) West One-Half of the Southeast Quarter (W1/2 SE1/4); Southeast Quarter of the Southeast Quarter (SE1/4 SE1/4), all in Section Eight (8), Township Eighty-one (81) North, Range Fourteen (14), West of the 5th P.M., Poweshiek County, Iowa. Please refer to abstract for the exact legal description.

 

FARM PROGRAM INFORMATION:

Cropland:  108 acres (Est)

Corn Base:  69.77 acres    PLC Yield:  174 bu.

 

This property presently has 73.54 acres enrolled in CRP at $157.54/acre or $11,585/yr. This entire tract of CRP will expire on September 30, 2024.

 

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

 

FARM LEASE:  The subject property is rented for the 2024 crop year. The sellers will retain 100% of the cash rent or crop income from the property for 2024. The lease for 2025 has been terminated. Contact the auctioneer for details.

 

IMPROVEMENTS:  Improvements are field drainage tile and perimeter fence.

 

PROPERTY TAXES:  $3,218/year. Property taxes will be prorated to date of closing.

 

TERMS AND CONDITIONS

 

SALE METHOD:  This tract will be offered as an individual tract of 120 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 November 1, 2024, subject to the current cash rent lease and current tenant’s rights for the 2024 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 1, 2024. 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:  Tom Buchanan

 

SELLERS:  Marcena Kline Revocable 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 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.


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