TAMA COUNTY: 256 ACRES M/L
TRACT #1: $14,300/ACRE
TRACT #2: $7,100/ACRE
FRIDAY, NOVEMBER 18, 2022, at 10:00 AM
TRAER MEMORIAL BUILDING
412 2ND STREET
TRAER, IOWA
LISTING AGENT:
LISTING #22135
DESCRIPTION: 256 acres m/l to be offered in two individual tracts at auction on Friday, November 18th, 2022, at 10:00 A.M. Tract #1 consists of 158 acres m/l, of which there are 157.54 taxable acres m/l and 155.59 cropland acres m/l. Tract #2 consists of 98 acres m/l, of which there are 97.56 taxable acres m/l and 90.2 cropland acres m/l. Tract #1 has an average CSR2 of 89.8, and Tract #2 has an average CSR2 of 84, with the county average CSR2 being 70.4.
DIRECTIONS: Tract #1 & #2-From Clutier, Iowa, go north on County Highway V-18 to County Blacktop E-29 or 230th Street. Tract #1 is located in the SW corner of the intersection of E-29 & V-18. From Dysart, go west on Highway #8 to County Blacktop V-18, then south to E-29 or 230th Street. Tract #1 is located in the SW corner of the intersection of E-29 and V-18. Tract #2 is located just to the west of Tract #1. Please watch for real estate signs.
TRACT #1
LEGAL DESCRIPTION: (158 Acres M/L) South 2 acres of the South One-Half of the Southeast Quarter (S1/2 SE1/4) of Section Six (6), Except Parcel B; Northwest Quarter of the Northeast Quarter (NW1/4 NE1/4); Southwest Quarter of the Northeast Quarter (SW1/4 NE1/4); Southeast Quarter of the Northeast Quarter (SE1/4 NE1/4); Northeast Quarter of the Northeast Quarter (NE1/4 NE1/4), Except Parcel B in Section Seven (7), Township Eighty-four (84) North, Range Thirteen (13), West of the 5th P.M., Tama County, Iowa. Please refer to abstract for exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 155.59 acres
Oats Base: 3.8 acres PLC Yield: 46 bu.
Corn Base: 87.1 acres PLC Yield: 177 bu.
Bean Base: 60.8 acres PLC Yield: 53 bu.
Tract contains 1.3 acres of CRP bid in at $255.6/acre until 9-22.
This farm is classified as Non-Highly Erodible Land. Tract contains a Wetland or farmed Wetland.
PROPERTY TAXES: $5,896/year. Property taxes will be prorated to date of closing.
IMPROVEMENTS: This property is unimproved except for field drainage tile and perimeter fence.
TRACTS #1 & #2-FARM LEASE: Sellers are to retain all of the 2022 cash rent or crop income due for 2022. The lease for 2023 has been terminated.
TRACT #2
LEGAL DESCRIPTION: (98 Acres M/L) Southeast Quarter of the Southwest Fractional Quarter (SE1/4 SW Frl. 1/4) lying South of the C/L Road; East .26 Acres in a Triangular Tract lying South of the Road in the Southwest Quarter of the Southwest Quarter (SW1/4 SW1/4) in Section Six (6); Northwest Quarter of the Northwest Quarter (NW1/4 NW1/4) lying East of West Line of Former RR Right of Way; Northeast Quarter of the Northwest Quarter (NE1/4 NW1/4); Southwest Quarter of the Northwest Quarter (SW1/4 NW1/4) lying East of West Line of Former RR Right of Way; Southeast Quarter of the Northwest Quarter (SE1/4 NW1/4), all in Section Seven (7),Township Eighty-four (84) North, Range Thirteen (13), West of the 5th P.M., Tama County, Iowa. Please refer to the abstract for exact legal description
PROPERTY TAXES: $3,296/year. Property taxes will be prorated to date of closing.
IMPROVEMENTS: This property is unimproved except for field drainage tile and perimeter fence.
FARM PROGRAM INFORMATION:
Cropland: 90.2 acres
Corn Base: 38.4 acres PLC Yield: 182 bu.
Bean Base: 33.4 acres PLC Yield: 55 bu.
Tract contains 14.10 acres of CRP bid in at $255.6/acre until 9-22.
This farm is classified as Non-Highly Erodible Land. Tract contains a Wetland or farmed Wetland.
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 158 acres m/l and Tract #2 will be sold as 98 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 December 30, 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 December 30, 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 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: Josh Kraushaar
SELLERS: Jean Miller Estate
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 to 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. SALE IS SUBJECT TO COURT APPROVAL.
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.