POWESHIEK COUNTY: 160 ACRES M/L
FRIDAY, AUGUST 19, 2022 at 10:00 AM
MICHAEL J. MANATT COMMUNITY CENTER
105 JACKSON STREET
DESCRIPTION: 160 acres m/l to be offered at auction on Friday, August 19th, 2022, at 10:00 A.M. This property consists of 160 acres m/l, of which there are approximately 155.6 taxable acres and 134.79 cropland acres m/l. This tract has an average CSR2 of 59.6, with the Poweshiek County average CSR2 being 67.
DIRECTIONS: From Brooklyn, Iowa, go east on County Highway #6 to County Blacktop V-18, then north on V-18 to Kent Church Road, then west on Kent Church Road to 160th Street. The subject property is located on the west side of 160th Street. Please watch for real estate signs.
LEGAL DESCRIPTION: (160 Acres M/L) Northeast Quarter (NE1/4) all in Section Twenty-one (21), 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: 134.79 acres
Corn Base: 50.35 acres PLC Yield: 135 bu.
Bean Base: 50.35 acres PLC Yield: 41 bu.
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 2022 crop year, with rental or crop income for 2022 to be retained 100% by the sellers. The lease for 2023 has been terminated.
IMPROVEMENTS: This property does have an older home that is considered salvage. This home is being sold “AS IS.” The new buyer will be responsible for any septic system improvements to bring it up to code. Other improvements are field drainage tile and perimeter fence.
PROPERTY TAXES: $3,912/year. Property taxes will be prorated to date of closing.
TERMS AND CONDITIONS
SALE METHOD: This tract will be sold as an individual tract of 160 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 October 5, 2022, 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 October 5, 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: Donald Schild
SELLERS: Bauman Farms, LLC
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.