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Lake Mills, Iowa
Land is located 4 miles east of Lake Mills on Highway 105.
Bidding Opens: Wednesday, November 23rd
Bidding Closes: Wednesday, November 30, 2022 at 4PM
76.05 Acres M/L – Sells in 1 Tract
Buyer to receive 100% of the 2023 Cash Rent
Auctioneer’s Note: Investment quality farm! Located on a hard surface road with an 85.7 CSR2!
76.05 Acres M/L
FSA indicates: 73.14 NHEL tillable acres.
Corn Suitability Rating 2 is 85.7 on the tillable acres.
Located in Section 4, Bristol Township, Worth County, Iowa.
View FSA 156 EZ form
View FSA Field Map
View Soil Map
Terms: 10% down payment on November 30, 2022. Balance due at final settlement with a projected date of December 23, 2022, upon delivery of merchantable abstract and deed and all objections have been met.
Landlord’s Possession: Projected date of December 23, 2022 (Subject to tenant’s rights on tillable land)
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.
Tax Parcels - 05-04-100-005, 05-04-100-001 Net - $2,112.00
- This online auction will have a 5% buyer’s premium. This means the buyer’s premium in the amount of five percent (5%) of the bid amount shall be charged to the Buyer and added to the bid amount to arrive at the total contract purchase price.
- If a bid is placed with less than 4 minutes left, the time on the auction will extend another 4 minutes. This will continue until no bids are placed within the last 4 minutes.
- Down payment is due on the day the bidding closes and signing of the contracts will take place through email and electronic document signatures. In the event the auction bidding closes after 3:00pm, the earnest money will be due the following business day.
- The land is rented for the 2023 farming season. The Buyer will receive 100% of the 2023 cash rent. The tenant will pay the Buyer as follows: $10,000.00, with the first half due April 1, 2023 and the second half due October 15, 2023.
- It shall be the obligation of the Buyer to serve tenant notice prior to September 1, 2023, if so desired.
- It shall be the obligation of the Buyer to report to the Worth County FSA office and show filed deed in order to receive the following if applicable: A. Allotted base acres. B. Any future government programs.
- Land will be sold by the acre with Assessor Gross acres being the multiplier used to determine the total bid amount.
- Seller shall not be obligated to furnish a survey.
- This auction sale is not contingent upon Buyer’s financing or any other Buyer contingencies.
- If a Buyer is unable to close due to insufficient funds or otherwise, Buyer will be in default and the deposit money will be forfeited.
- The Buyer shall be responsible for any fencing in accordance with state law.
- The Buyer 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.
- All mineral rights, if any, held by Seller will be transferred to Buyer upon closing.
- This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.
- The Buyer acknowledges that they have carefully and thoroughly inspected the real estate and are familiar with the premises. The Buyer is buying this real estate in its "as is" condition and there are no expressed or implied warranties pertaining to the real estate.
- All drawings, lines and boundaries are approximate.
- Steffes Group, Inc. is representing the Seller.
- Any announcements made the day of sale take precedence over advertising.
Sellers: Keith Fuller and Monica Wolf
Michael S. Vervaecke of Hayek, Moreland, Smith & Bergus, L.L.P. – Closing Attorney for Seller
For information contact Mason Holvoet of Steffes Group at 641.423.1947 or 319.470.7372
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As with any auction all items sell as-is with no guarantees or warranties of any type. Descriptions, photos and statements made or offered by sellers or auction staff are deemed correct but are not guaranteed. You are responsible for your own physical inspections, due diligence and any bids placed.
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