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WRIGHT COUNTY: 236 ACRES M/L



TRACT #1: $13,100/ACRE

TRACT #2: $12,500/ACRE


FRIDAY, JANUARY 13, 2023 at 10:00 AM

CATTLEMAN'S AT THE CLUB

1608 3RD STREET NE

BELMOND, IOWA

LISTING AGENTS:

LISTING #23100










DESCRIPTION: 236 acres m/l to be offered in two individual tracts at auction on Friday, January 13th, 2023, at 10:00 A.M. Tract #1 consists of 120 acres m/l, of which there are approximately 118.5 taxable acres and 117.93 cropland acres m/l. Tract #2 consists of 116 acres m/l, of which there are approximately 112.5 taxable acres and 113.93 cropland acres m/l. Tract #1 has an average CSR2 of 84.2, and Tract #2 has an average CSR2 of 84.3 with the Wright County average CSR2 being 78.6.

DIRECTIONS: From Alexander, Iowa, go west on County Road C-25 approximately 2 miles to Youngblood Avenue. The subject properties are located in the northeast corner of the intersection of County Road C-25 and Youngblood Ave. Please watch for real estate signs.

TRACT #1

LEGAL DESCRIPTION: (120 Acres M/L) East One-Half of the Southwest Quarter (E1/2 SW1/4) and the East One-Half of the South One-Half of the Northwest Quarter (E1/2 S1/2 NW1/4) of Section One (1), Township Ninety-two (92) North, Range Twenty-three (23), West of the 5th P.M., Wright County, Iowa. Please see the abstract for the exact legal description.

FARM PROGRAM INFORMATION:

Cropland: 117.93 acres (Est)

Corn Base: 64.97 acres PLC Yield: 159 bu.

Bean Base: 54.92 acres PLC Yield: 45 bu.

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

PROPERTY TAXES: $3,750/year (Est)

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: The subject property is open for tenancy for 2023. The lease for 2023 has been terminated for both tracts. The buyer will be responsible for reimbursing the previous tenant for fertilizer and application as well as fall tillage. This amount will be due at the date of closing. Please contact the auctioneer for further details.

TRACT #2

LEGAL DESCRIPTION: (116 Acres M/L) West One-Half of the Southwest Quarter (W1/2 SW1/4) and the West One-Half of the South One-Half of the Northwest Quarter (W1/2 S1/2 NW1/4) Except the acreage, all in Section One (1), Township Ninety-two (92) North, Range Twenty-three (23), West of the 5th P.M., Wright County, Iowa. Please see the abstract for the exact legal description.

FARM PROGRAM INFORMATION:

Cropland: 113.93 acres (Est)

Corn Base: 61 acres PLC Yield: 167 bu.

Bean Base: 51.2 acres PLC Yield: 47 bu.

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

PROPERTY TAXES: $3,560/year (Est). 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 will be offered as individual tracts and will not be combined. Tract #1 will be sold as 120 acres m/l and Tract #2 will be sold as 116 acres m/l. On Tract #2, total gross acres are subject to the survey of the acreage and the final sale price will be adjusted accordingly.

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 February 28, 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 February 28, 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: Don Johnson

SELLER: Jason Vestweber


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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