WAPELLO COUNTY LAND AUCTION

AGENCY, IOWA
Land is located 4 miles east of Agency on Highway 34, then 3 miles north on V43, then ½ mile east on Bladensburg Road, then 1 ½ miles north on V43.

Auction to be held at the Agency Community Hall, 102 W. Main, Agency, Iowa.

LAND SOLD FOR:

TRACT #1  - $7,750.00 x 39.85 = $308,837.50

TRACT #2 - $4,800.00 x 33.78 = $162,144.00

TRACT #3 - $4,950.00 x 58.03 = $287,248.50

TRACT #4 - $3,200.00 x 79.07 = $253,024.00

TRACT #5 - $2,300.00 x 79.78 = $183,494.00

TOTAL = $1,194,748.00

 290.51 Surveyed Acres  – SELLS IN 5 TRACTS

Survey Now Complete!

Tracts 1 & 4 - View Here

Tracts 2, 3, & 5 - View Here

 
“Selling Choice with the Privilege”

Tracts #1, 2, 3, 4 & 5 will be sold price per surveyed acre and will be sold Choice with the Privilege, whereas the high bidder may take Tract #1, Tract #2, Tract #3, Tract #4, Tract #5 or all tracts or any combination of tracts, in any order, for their high bid.  This will continue until all tracts are sold.  Tracts will not be recombined. 

Here is your chance to buy tillable farmland and pasture land located on a hard surface road with rural water in the area.

Tract #1 – 39.85 Surveyed Acres

Approx. 37.5 acres tillable.
Corn Suitability Rating 2 of 79.9 (CSR1 72.1) on the entire tract.
Located in Section 3, Pleasant Township, Wapello County, Iowa.

Real Estate Taxes on Tract #1

Gross                     $1,352.52
Ag. Credit                   ($58.08)
Family Farm Credit      ($40.49)
Net                         $1,254.00 (Rounded)

Tract #2 – 33.78 Surveyed Acres

FSA indicates: 27.47 acres tillable, balance being pasture.
Corn Suitability Rating 2 of 62.4 (CSR1 59.1) on the entire tract.
Located in Section 3, Pleasant Township, Wapello County, Iowa.

Real Estate Taxes on Tract #2
Gross                     $894.96
Ag. Credit               ($38.75)
Family Farm Credit  ($27.01)
Net                         $830.00 (Rounded)

Tract #3 – 58.03 Surveyed Acres

FSA indicates: 51.9 acres tillable.
Corn Suitability Rating 2 of 64 (CSR1 54.3) on the entire tract.
Located in Section 3, Pleasant Township, Wapello County, Iowa.

Real Estate Taxes on Tract #3
Gross                    $1,554.24
Ag. Credit                  ($67.33)
Family Farm Credit     ($46.94)
Net                         $1,440.00 (Rounded)

Tract #4 – 79.07 Surveyed Acres

Approx. 31.17 acres tillable, balance being pasture, timber, ponds & a creek running along the south edge of this tract.  This tract also has a 54’x72’ pole building.
Corn Suitability Rating 2 of 60.6 on the entire tract.
Located in Section 3, Pleasant Township, Wapello County, Iowa.

Real Estate Taxes on Tract #4
Gross                    $1,615.47
Ag. Credit                  ($54.82)
Family Farm Credit      ($38.22)
Net                         $1,524.00 (Rounded)

Tract #5 – 79.78 Surveyed Acres

FSA indicates: 15.21 acres tillable, balance being pasture, pond & a small creek running through the property.
Corn Suitability Rating 2 of 53 (CSR1 47.5) on the entire tract.
Located in Section 3, Pleasant Township, Wapello County, Iowa.

Real Estate Taxes on Tract #5
Gross                    $1,295.81
Ag. Credit                   ($54.29)
Family Farm Credit      ($37.85)
Net                         $1,204.00 (Rounded)

TERMS ON ALL TRACTS

Terms:20% down payment on February 7, 2019.  Balance due at closing, upon delivery of merchantable abstract and deed and all objections have been met.
Possession:Projected date of March 22, 2019 (Subject to tenant’s rights on tillable & pasture land & building)
Real Estate Taxes: To be prorated to date of possession on the basis of the last available tax statement.  Seller shall pay any unpaid real estate taxes payable in prior years.

Special Provisions:

• The tillable & pasture land are rented for the 2019 farming season.  The tillable land lease is based on a total amount of $27,710, with the first half due March 1, 2019 and the second half due November 1, 2019.  The pasture land lease is based on 30 acres west of Competine Road and 50 acres east of Competine Road, with the first half due March 1, 2019 and the second half due November 1, 2019.  The buyer(s) will receive the cash rent payments, which will be paid by the tenant to the buyer(s) as follows, except first half will be paid at closing:

Tract #1 –
Tillable land rent 37.5 acres x $169.74 per acre = $6,365.25

Tract #2 –
Tillable land rent 27.47 acres x $169.74 per acre = $4,662.75
Pasture land rent 4.7 acres x $45.00 per acre = $211.50

Tract #3 –
Tillable land rent 51.9 acres x $169.74 per acre = $8,809.50

Tract #4 –
Tillable land rent 31.17 acres x $169.74 per acre = $5,290.79

Pasture land rent 30 acres x $45.00 per acre = $1,350.00.
Building rent is $75 per month, with $450 paid in advance each six months due May 1 and November 1, of each year.  Building rent will be prorated to date of closing.  The lease can be cancelled by Lessor or Lessee with a 30 days written notice of termination.  Copies of said lease available for review.

Tract #5 –
Tillable land rent 15.21 acres x $169.74 per acre = $2,581.74
Pasture land rent 45.3 acres x $45.00 per acre = $2,038.50

• It shall be the obligation of the buyer(s) to serve termination to the tenant, prior to September 1, 2019, if so desired.
• It shall be the obligation of the buyer(s) to report to the Wapello County FSA office and show filed deed(s) in order to receive the following if applicable:   A. Allotted base acres.  B. Any future government programs.  C. Final tillable acres will be determined by the Wapello County FSA office.
• All tracts will be surveyed by a registered land surveyor and surveyed acres will be the multiplier for each tract.
• This auction sale is not contingent upon Buyer’s financing or any other Buyer contingencies.
• Purchasers who are unable to close due to insufficient funds or otherwise, will be in default and the deposit money will be forfeited.
• The buyer(s) shall be responsible for any fencing in accordance with Iowa state law.
• If one buyer purchases more than one tract, the seller shall only be obligated to furnish one abstract and deed. (husband & wife constitute one buyer)
• The buyer(s) shall be responsible for installing his/her own entrances if needed or desired.
• If in the future a site clean-up is required it shall be at the expense of the buyer(s).
• This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.
• The buyer(s) acknowledge that they have carefully and thoroughly inspected the real estate and are familiar with the premises. The buyer(s) are buying this real estate in its "as is" condition and there are no expressed or implied warranties pertaining to the same.
• Steffes Group, Inc. is representing the Seller.
• Any announcements made the day of sale take precedence over advertising.

Owner: Denver Ostrander Estate
James M. Box – Attorney for Estate

For more information auction manager contact Nate Larson of Steffes Group at 319.385.2000 or by cell 319.931.3944

Downloads:
Day of Auction Contract - Tract 1
Day of Auction Contract - Tract 2
Day of Auction Contract - Tract 3
day of Auction Contract - Tract 4
Day of Auction Contract - Tract 5
Tracts 1 & 4 Survey
Tracts 2, 3, & 5 Survey