AUCTION INFORMATION
144.72± Surveyed Acres – Sells in 4 Tracts
Tract 1 – 2 Story Home on 5.28± Surveyed Acres
- You will fall in love with this rustic home with Civil War history. Even though the home was built in 1860, it features modern amenities throughout.
- 3 bedrooms, 1 1/2 baths, 3,404 total sq.ft. of living space on two levels.
- The main level offers a kitchen with breakfast bar & breakfast area with wood beams salvaged from the original barn, living room with non-functioning fireplace, formal dining room, office, laundry room, mud room with ½ bath.
- The open stairway leads to 3 bedrooms upstairs, an updated full bathroom, a smaller sitting room and the rec room overlooking the kitchen/breakfast area.
- Basement with Lennox high efficient gas furnace, central air, well, updated septic system installed August, 2021.
- Other amenities include: fruit trees, a raspberry vine, and a natural spring on the property inside the brick springhouse.
- Outbuildings include: Attached 1 car garage, Detached 28’x22’ garage w/ basement, 20’x30’ shed & 12’x20’ chicken house.
- Part of Tax Parcel: 183080510000800 = $2,360.00 Approx. Net
- Included: Refrigerator, Stove, LP tank, Fuel tank, Any item present on the day of final settlement/closing.
- Not included: Washer, Dryer, Trampoline, Swing, Farm Equipment, All tenant’s personal property.
- View Updated Seller's Disclosure & Lead Based Paint Disclosure
- View Survey Overlay & Plat
Tract 2 – 12.62± Surveyed Acres
- Potential building site with tillable & pasture land.
- FSA indicates: 5.13 cropland acres.
- CSR2 of 66.1 on the cropland acres.
- Balance of land is pasture.
- Located in Section 5, Center Township, Henry County, Iowa.
- Part of Tax Parcel: 183080510000800 = $211.00 Approx. Net
- View FSA Field Map
- View FSA 156 EZ Form
- View Tract 2 - Soil Map
- View Survey Overlay & Plat
Tract 3 - 54.72± Surveyed Acres
Tract 4 – 72.10± Surveyed Acres
- Approx: 50 tillable acres.
- CSR2 of 53.9 on the tillable acres.
- Balance of land is pasture, timber, a pond and a creek runs through the property.
- Outbuildings include: 46’x60’ barn w/18’x44’ lean to, 24’x52’ open faced shed w/ 22’x32’ attached shed, 16’x18’ shed w/ livestock chute & head gate, small grain bin.
- Water source for this property is the creek.
- Located in Section 5, Center Township, Henry County, Iowa.
- Part of Tax Parcel: 183080510000800 = $1,350.00 Approx. Net
- Included: Waterer, Attached gates & fencing, Any item present on the day of final settlement/closing.
- Not included: Farm equipment, Livestock equipment
- View FSA Field Map
- View FSA 156 EZ Form
- View Tract 4 - Soil Map
- View Survey Overlay & Plat
Terms: 10% down payment on June 5, 2025. Balance due at final settlement/closing with a projected date of July 21, 2025, upon delivery of merchantable abstract and deed and all objections having been met.
Possession: Tract 1 - Projected date of July 21, 2025.
Landlord’s Possession: Tracts 2 - 4 - Projected date of July 21, 2025. (Subject to tenant’s rights on the tillable land for the 2025-2026 farming season, full possession March 1, 2026).
Real Estate Taxes: To be prorated to date of possession on the basis of the last available tax statement. The seller shall pay any unpaid real estate taxes payable in prior years.
Special Provisions:
- This online auction is a NO BUYER'S PREMIUM OR BUYER FEE auction.
- Tracts will be linked together with the bidding set to close simultaneously. 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. Each Tract will stay in bidding extension until there are no more bids placed on any of the Tracts that are linked together.
- Down payment is due on the day the bidding closes and signing of the real estate 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.
- Tract 1 is currently rented on a month to month basis and will be vacant by the time of the projected final settlement/closing date.
- The pasture land is not currently under lease and is available for open tenancy.
- The land is selling subject to tenant’s rights on the tillable land for the 2025-2026 farming season (March 1, 2025 - February 28, 2026). Buyer will receive 100% of the cash rent due in 2025; as follows:
o Tract 2 Buyer will receive the first rent payment of $103.33 from the tenant, due September 15, 2025. Tract 2 Buyer will receive the final rent payment of $650.93 from the tenant, due December 31, 2025.
o Tract 3 Buyer will receive the first rent payment of $889.72 from the tenant, due September 15, 2025. Tract 3 Buyer will receive the final rent payment of $5,604.56 from the tenant, due December 31, 2025.
o Tract 4 Buyer will receive the first rent payment of $1,007.15 from the tenant, due September 15, 2025. Tract 4 Buyer will receive the final rent payment of $6,344.31 from the tenant, due December 31, 2025.
- Regarding Tracts 2, 3 & 4, it shall be the Buyer’s responsibility to give the tenant notice of termination of the farm tenancy prior to September 1, 2025, if so desired.
- It shall be the obligation of the Buyer to report to the appropriate County FSA office and show filed deed in order to receive the following if applicable: A. Allotted base acres. B. Any future government programs. C. Final tillable acres to be determined by the FSA office, as tract lines may overlap field lines.
- All Tracts will be surveyed by a licensed surveyor, at Seller’s expense.
- Tract 1 will be sold lump sum price. Tracts 2, 3 & 4 will be sold on a per acre basis with gross surveyed acres being the multiplier used to determine the total bid amount. In the event the final survey is not completed by auction day or if the recorded survey is different than the announced gross surveyed acres, adjustments to the final contract purchase price will be made accordingly at final settlement/closing for Tracts 2, 3 & 4. No adjustments will be made to the final contract purchase price for Tract 1, as it is selling lump sum price.
- This real estate auction is selling subject to final approval of the survey and subdivision requirements of the county, if required.
- If one Buyer purchases more than one tract, the Seller shall only be obligated to furnish one abstract and deed (Spouses constitute one Buyer).
- Tract 1, Seller shall bear the responsibility and expense to have the septic system pumped & inspected, prior to closing, as required by the Iowa DNR. It shall also be the Seller’s responsibility and expense, if needed, to upgrade, repair, or any other matters to the septic system in accordance with Henry County & Iowa Laws & regulations. Prior to closing, the Seller shall acquire the proper paperwork required by the Henry County Sanitarian for the septic system.
- In the event Tracts 1 and 4 are purchased by different Buyers, the Buyer of Tract 4 shall be solely responsible for the cost and coordination of separating the electric service and installing a separate electric meter for Tract 4.
- Tract 4 will have an easement established for the septic system of the home located at 2232 Hickory Ave.
- Buyer shall cooperate by signing any needed paperwork, at no additional cost to the Buyer, in a 1031 exchange if the Seller opts to do so.
- This auction sale is not contingent upon Buyer’s financing, appraisal(s), 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 and paid to Seller.
- The Buyer shall be responsible for any fencing in accordance with state law.
- The Buyer shall be responsible for installing 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, easements, rights-of-way, ordinances, resolutions, leases, and mineral reservations, as well as all applicable zoning laws.
- All lines, drawings, boundaries, dimensions and descriptions are approximations only based upon the best information available and are subject to possible variation. Sketches may not be drawn to scale and photographs may not depict the current condition of the property. Bidders should inspect the property and review all the pertinent documents and information available, as each bidder is responsible for evaluation of the property and shall not rely upon the Seller, Broker or Auctioneer, their Employees or Agents.
- 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.
- Steffes Group, Inc. is representing the Seller. Bidder acknowledges they are representing themselves in this real estate transaction.
- Any announcements published or made the day of auction take precedence over advertising.
CONTACT
Mason Holvoet at Steffes Group, (319) 470-7372 or (319) 385-2000
Mason Holvoet - Iowa Real Estate Salesperson S69890000
Steffes Group, Inc., 2245 East Bluegrass Road, Mt. Pleasant, IA 52641
