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WRIGHT COUNTY: 223 ACRES M/L



TRACT #1: $11,300/ACRE

TRACT #2: $8,500/ACRE

TRACT #3: $10,400/ACRE


FRIDAY, JANUARY 20, 2023 at 10:00 AM

CATTLEMAN'S AT THE CLUB

1608 3RD STREET NE

BELMOND, IOWA

LISTING AGENTS:

Kellen Suntken (515-571-8565)

LISTING #23101
















DESCRIPTION: 223 acres m/l to be offered in three individual tracts at auction on Friday, January 20th, 2023, at 10:00 A.M. Tract #1 consists of 83 acres m/l, of which there are 82.39 taxable acres m/l and 83.21 cropland acres m/l. Tract #2 consists of 77 acres m/l, of which there are 72 taxable acres m/l and 72.81 cropland acres m/l. Tract #3 consists of 63 acres m/l with 62.45 taxable acres m/l and 63 cropland acres m/l. Tract #1 has an average CSR2 of 79.9, Tract #2 has an average CSR2 of 68.5, with Tract #3 having an average CSR2 of 84.5. The average CSR2 for Wright County of 82.2.

TRACT #1

DIRECTIONS: From Belmond, Iowa, go south on State Highway #69 to county rock road 180th Street, then east on 180th Street 1 mile. The subject property is located on the northeast corner of the intersection of 180th Street and Taylor Avenue. Please watch for real estate signs.

LEGAL DESCRIPTION: (83 Acres M/L) That Part of the East One-Half of the Southwest Quarter (E1/2 SW1/4) lying West of RR, Except the South 353.01’; Southwest Quarter of the Southwest Quarter (SW1/4 SW1/4), Except the South 353.10’ of the East 398.08’; Northwest Quarter of the Southwest Quarter (NW1/4 SW1/4) of Section Eight (8), Township Ninety-two (92) North, Range Twenty-three (23), West of the 5th P.M., Wright County, Iowa. Please refer to abstract for exact legal description.

FARM PROGRAM INFORMATION:

Cropland: 83.21 acres

Corn Base: 55.4 acres PLC Yield: 160 bu.

Bean Base: 27.81 acres PLC Yield: 48 bu.

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

PROPERTY TAXES: $2,378/year. Property taxes will be prorated to date of closing.

IMPROVEMENTS: This property is unimproved except for field drainage tile and perimeter fence. This farm has had extensive tiling completed in 2008.


TRACTS #1, #2, #3 FARM LEASE: Sellers are to retain all of the 2022 cash rent due for 2022. The lease for 2023 has been terminated with the farms being open for 2023.


Tenant expenses to be reimbursed by the buyer:

TRACT #1: Fertilizer $10,876.11, Tillage $1,331.36 = $12,207.47

TRACT #2: Fertilizer $8,877.97, Tillage $1,164.96 = $10,042.93

TRACT #3: Fertilizer $8,095.71, Tillage $1,008.00 = $9,103.71

TRACT #2

DIRECTIONS: From Belmond, Iowa, go north on State Highway #69 to 105th Street. The subject property is located on the southwest corner of the intersection of 105th Street and State Highway #69. Please watch for real estate signs.

LEGAL DESCRIPTION: (77 Acres M/L) The Northeast Quarter of Southeast Quarter (NE1/4 SE1/4), Except the RR; Southeast Quarter of the Southeast Quarter (SE1/4 SE1/4), Except RR in Section One (1), Township Ninety-three (93) North, Range Twenty-four (24), West of the 5th P.M., Wright County, Iowa. Please refer to the abstract for exact legal description

FARM PROGRAM INFORMATION:

Cropland: 72.81 acres (Est)

Corn Base: 64 acres PLC Yield: 160 bu.

Bean Base: 12 acres PLC Yield: 48 bu.

This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time. This property does have 6.69 acres of CRP bid in at $1,483/year (Est).

PROPERTY TAXES: $1,756/year. Property taxes will be prorated to date of closing.

IMPROVEMENTS: This property is unimproved except for field drainage tile and perimeter fence.

TRACT #3

DIRECTIONS: From Belmond, Iowa, go north on State Highway #69 to 105th Street. The subject property is located on the east side of the RR tracts on the north side of 105th Street. Please watch for real estate signs.


LEGAL DESCRIPTION: (63 Acres M/L) The Northwest Quarter of Northwest Quarter (NW1/4 NW1/4), Except that part lying West of RR Right of Way and Except the RR Right of Way the RR; Southwest Quarter of the Northwest Quarter (SW1/4 NW1/4), Except that part of lying West of the RR Right of Way and Except Parcel B, all in Section Six (6), Township Ninety-three (93) North, Range Twenty-three (23), West of the 5th P.M., Wright County, Iowa. Please refer to the abstract for exact legal description

FARM PROGRAM INFORMATION:

Cropland: 63 acres (Est)

Corn Base: 46 acres PLC Yield: 160 bu.

Bean Base: 1.98 acres PLC Yield: 48 bu.

This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time. This property does have 1.8 acres of CRP bid in at $399/year (Est).

PROPERTY TAXES: $1,938/year. Property taxes will be prorated to date of closing.

IMPROVEMENTS: This property is unimproved except for field drainage tile and perimeter fence.


TERMS AND CONDITIONS

SALE METHOD: Tracts #1, #2, & #3 will be offered as individual tracts and will not be combined. Tract #1 will be sold as 83 acres m/l, Tract #2 will be sold as 77 acres m/l, and Tract #3 will be sold as 63 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 March 1, 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 March 1, 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: Richard Bordwell

SELLERS: Ed & Kim Swanson


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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