Steffes Group Inc.
PreviewNovember 19, 2024, 4:00PM - 6:00PM
Auctioneer's Note
Investment quality land along Highway 141, minutes from Perry, IA. This farmland boast an impressive 81.2 CSR2 and is selling with tenant in place for 2025 farming season.  

Due to multiple requests for the opportunity to purchase the land and home together, the Quinns' home & building on 10 acres will now be offered on this timed online auction as Tract 2.  
We invite you to view the home on Tuesday, November 19th, from 10AM to Noon.

LOCATION
Located 5 miles east of Perry, IA on Highway 141.

OPENING: Tuesday, November 19
CLOSING: Tuesday, November 26, beginning at 10:00 AM CST
 
SELLER
James V. Quinn Estate & Pamela K. Quinn
Ashley F. Charnetski - Attorney for Seller
Corey Lorenzen - Closing Attorney

AUCTION INFORMATION

177.06 Surveyed Acres - Sells in Two Tracts

Tract 1 - 167.04 Surveyed Acres

  •        Approx.: 159 tillable acres of which 2.90 acres are in CRP as follows: 2.90 acres X $206.97 = $600.00 and expires on 9-30-2033.
  •        Corn Suitability Rating 2 is 81.2 on the tillable acres.
  •        Located in Sections 16 & 17, Beaver Township, Dallas County, Iowa.
  •        Tax Parcels: 0317200009, 0317200008, Part 0316100010, Part 0316100008, Part 0316100002, 0317200004 = $4,228.00 Approx. Net 
  •        View FSA Field Map
  •        View FSA 156 EZ Form
  •        View CRP Contract
  •        View Tract 1 - Survey Retracement
  •        View Tract 1 - Survey Overlay

      Tract 2 – Home & Building on 10.02 Surveyed Acres
Located at 24192 141st St, Bouton, IA

  •        This stunning custom-built, 4-bedroom home built by John Larson offers spacious living across 2,091 sq. ft. on the main level, complemented by an additional 1,280 sq. ft. in the finished walk-out basement.  Home was built in 2006.
  •        The main level features a large living room with vaulted ceilings, a cozy gas fireplace, and an adjoining dining area—ideal for gatherings and entertaining.  The kitchen boasts stainless steel appliances, a farmhouse sink, granite countertops, an island bar, and a pantry closet.  Adjacent to the kitchen is a breakfast nook with French doors leading to a four-season porch and sliding doors that open to a large composite deck with vinyl railing.
  •        The main bedroom suite includes an ensuite bathroom with a jetted tub, shower, dual vanities, and a spacious walk-in closet.  Two additional bedrooms and a full bath are also on the main level.  Conveniently located near the garage entrance, the laundry/mud room features a half-bath.
  •        The walk-out basement expands your entertainment space with a generous family/rec room equipped with built-in cabinets, wet bar & corn/pellet stove.  This level also offers a pool table room, fourth bedroom, office, ¾ bath, and abundant storage.
  •        Additional amenities include an oversized 3-car garage, updated LVP flooring, 36” doors throughout, built-in speaker system, Xenia rural water, Guthrie County REC electric, Minburn Communications internet, Windstream telephone, ADT security system, and an Amana high-efficiency gas forced-air furnace with central air.  Located in the Perry School District.
  •        Also included is a spacious Astro 48’x110’ pole building, built in 2006.  The building has a partial concrete floor, a 20’x14’ overhead door with opener, and 23.5’x15’ opening with sliding doors, making it highly versatile.
  •        Tax Parcels: Part 0316100010, Part 0316100008, Part 0316100002 = $6,846.00 Approx. Net
  •        Included: (2) Refrigerators, Electric stove, Dishwasher, Microwave, Washer, Dryer, Freezer, (3) Bar stools, Corn/pellet stove, Basketball hoop, Landscaping rock pile, LP tank, Remaining LP in the LP tank on the day of possession/final settlement,
  •        Not included: Portable bar, Pool table, Dorm refrigerator, Work benches, Shelving, Air compressor, Attached hose reel, All personal property & All items on the equipment auction.
  •        View Tract 2 - Seller Disclosure
  •        View Tract 2 - Survey Plat
  •        View Tract 2 - Survey Overlay

Terms: 10% down payment on November 26, 2024. Balance due at final settlement with a projected date of December 30, 2024 for Tract 1 and January 30, 2025 for Tract 2, upon delivery of merchantable abstract and deed and all objections have been met.
Possession: Projected date of December 30, 2024 for Tract 1.  Projected date of January 30, 2025 for Tract 2.
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: 

  •        This real estate 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.
  •        Land is selling subject to tenant’s rights for the 2025 farming season.  Tract 1 Buyer will receive the cash rent payment from the tenant of 156.1 acres x $290 = $45,269.00.  First half is due March 1, 2025 and second half due October 1, 2025.  Buyer of Tract 2 shall not receive any cash rent payment.
  •        It shall be the Buyer’s responsibility to serve tenant notice 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. CRP Prorate.  D. Final tillable acres to be determined by the FSA office, as FSA field lines overlap Tract lines.
  •        Buyer agrees to follow all requirements of conservation plans and practices required by the FSA to maintain eligibility in the Conservation Reserve Program. Buyer agrees to accept responsibility and liability for any actions by the Buyer which would endanger eligibility for the CRP or actions that would require repayment of the CRP payment or payments. Buyer further agrees to indemnify and hold harmless the Sellers for any recovery sought by the FSA due to actions of Buyer, which would violate the requirements of the CRP.
  •        Land will be surveyed by a licensed surveyor, at Seller’s expense. Tract 1 will be sold by the acre 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 price will be made accordingly at closing.
  •        An easement/maintenance agreement will be established in favor of the home which is being sold privately.  The home will be granted an easement of approx.. 200’ along the lane for ingress and egress.  After this section, the remaining lane will be owned and controlled by the homeowner.  Both parties will agree to share the cost of maintaining the 200 feet of the lane included in the easement.  The cost will be split 50/50 between the homeowner and the farmland owner.
  •        This real estate auction is selling subject to final approval of the survey and subdivision requirements of the county, if required.
  •        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.
  •        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 upon closing.
  •        This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, 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.
  •        Any announcements made or published the day of sale take precedence over advertising.
  •        Tract 2, 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 County & Iowa Laws & regulations.  Prior to closing, the Seller shall acquire the proper paperwork required by the County Sanitarian for the septic system.
  •        Tract 2 will be sold lump sum price and will be surveyed by a licensed surveyor at Seller’s expense.  In the event the final survey of Tract 2 is not completed by auction day or if the recorded survey is different than the announced acres, no adjustments to the final contract price will be made, as Tract 2 is being sold lump sum price.
  •        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 all the tracts linked together 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.
  •        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).

Click Here to View the Timed Online Auction of the James V. Quinn Estate Farm Equipment & Collector Toys will be Tuesday, November 26, 2024, beginning at 11:00AM CST
 
CONTACT
Duane Norton at Steffes Group, (515) 450-7778 or (641) 423-1947
Duane Norton - Iowa Real Estate Salesperson S64572000
Steffes Group, Inc., 2245 East Bluegrass Road, Mt. Pleasant, IA 52641