SEALED BID AUCTION INFORMATION

Buyer to receive 100% of the 2026 Cash Rent! 

37.09± Acres – Sells in 1 Tract

•        33.63± cropland acres.
•        CSR2 is 65.8 on the cropland acres.
•        Balance being timber with walnut trees.
•        Located in Section 3, Harrison Township, Lee County, Iowa.
•        Tax Parcel: 031306034000050 = $1,206.00 Net
  
  

How to Bid: There are three ways to submit a bid for this sealed bid auction format. All sealed bids need to be received by Tuesday, November 18, 2025 at 1:00PM CST
1. Request a Sealed Bid Form to be completed via DocuSign. Please make requests to mason.holvoet@steffesgroup.com 

2. Download Sealed Bid Form from SteffesGroup.com. Email completed form to mason.holvoet@steffesgroup.com. If emailed, it shall be the bidder’s responsibility to confirm bid form has been received.

3. Make an appointment with Mason Holvoet to fill out the Sealed Bid Form.  Contact Mason at (319) 470-7372.

Terms: If you are declared the winning bidder, 10% down payment is due upon acceptance. Balance due at final settlement/closing with a projected date of January 23, 2026, upon delivery of merchantable abstract and deed and all objections having been met.
Landlord’s Possession: Projected date of January 23, 2026 (Subject to tenant’s rights on the tillable land for the 2026 farming season).
Real Estate Taxes: To be prorated to date of final settlement/closing on the basis of the last available tax statement. Seller shall pay any unpaid real estate taxes payable in prior years.

Special Provisions:

•        This sealed bid 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.
•        Land will be sold on a per acre basis with Assessor’s gross acres being the multiplier used to determine the total bid amount.
•        There will be no “final round” of bidding, unless a tie bid occurs. If a tie bid occurs, only the parties with tying bids will be contacted to raise said bid.
•        Seller reserves the right to accept, reject or counter offer any and all bids. Seller may enter negotiations with one or more Bidders.
•        Down payment is due upon acceptance and signing of the purchase agreement will take place through email and electronic document signatures or at Steffes Group, Inc., Mt. Pleasant, IA office. In the event the acceptance is after 3:00pm, the down payment/earnest money will be due the following business day.
•        Land is selling subject to tenant’s rights on the tillable land for the 2026 farming season (March 1, 2026 - February 28, 2027). Seller shall keep all rent payments for the 2025 farming season.  Buyer will receive the 2026 rent payments from the tenant as follows: $6,125 due March 1, 2026 and $6,125 due November 1, 2026.
•        It shall be the Buyer’s obligation to serve the tenant notice of termination of the farm tenancy prior to September 1, 2026, 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 cropland acres to be determined by the FSA office.
•        The Seller is not required to provide a survey.  If the Buyer chooses to obtain a survey, the cost of the survey will be the Buyer’s responsibility.  The total contract purchase price will not be adjusted to reflect any differences between the surveyed acres and acres stated.
•        This sealed bid auction 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.
•        Buyer shall receive the 2026 powerline easement payment.  Buyer shall be responsible for notifying & reporting of said ownership change to utility company.
•        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 exclusively representing the Seller. Bidder acknowledges they are representing themselves in this real estate transaction.
•        Any announcements published or made the day of the submission deadline take precedence over advertising.