Timed Online
Henry County, IA Land Auction - 200± Acres, 2 Tracts - SOLD!!
CLOSED February 22, 2024 | 7:00 PM
41.133016, -91.533279
Rep:
Please note upon accepting these terms & conditions, a representative from Steffes Group will contact you via a phone call for final approval.
Bidding will be price per acre, with deeded acres being the multiplier used to determine the total bid amount.
Terms & Conditions
By accepting the terms and conditions of this auction you acknowledge you are entering into a legal and binding contract. You agree to abide by all terms and conditions and you acknowledge receipt of all explanations and information made available by Steffes Group, Inc., also referred to as Steffes Group or Company.
Terms: 10% down payment on February 22, 2024. Balance due at final settlement/closing with a projected date of April 5, 2024, upon delivery of merchantable abstract and deed and all objections having been met.
Landlord’s Possession: Projected date of April 5, 2024 (Subject to tenant’s rights).
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.
Tract 1: Parcels 030021520000600, 030021520000300 = $3,192.00
Tract 2: Parcels 100051140000100, 100051140000200 = $4,294.00
Special Provisions:
· This online auction will have a $1,000 buyer’s premium per Tract. This means a buyer’s premium in the amount of $1,000 shall be charged to the Buyer and added to the bid amount to arrive at the total contract purchase 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 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 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 on a cash rent basis for the 2024 farming season. The current lease is $300 X 196.9 tillable acres = $59,070.00, with the first half due March 1, 2024 and the second half due September 1, 2024. The Buyer will receive 100% of the rent as follows: Tract 1 = $23,551.21, Tract 2 = $35,518.79. The March payment will be credited to the Buyer at final settlement/closing. The September payment will be paid by the tenant to the Buyer.
· It shall be the obligation of the Buyer(s) to serve termination to the tenant, prior to September 1, 2024, if so desired.
· It shall be the obligation of the Buyer(s) to report to the Henry County FSA office and show filed deed in order to receive the following if applicable: A. Allotted base acres. B. Any future government programs.
· Tracts will be sold by the acre with deeded acres being the multiplier used to determine the total bid amount.
· Seller shall not be obligated to furnish a survey.
· Tract 1 has a recorded access easement for ingress and egress over the North 32 feet of the NW ¼ Section 15-73N-6W.
· 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).
· This auction sale is not contingent upon the 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 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 on the day of sale take precedence over advertising.
Payment
When paying within the stated time and with our acceptable payment methods:
A $1,000 buyer’s premium per Tract applies to items purchased on this Timed Online Auction.
Down payment is due on the day the auction 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.
Acceptable forms of payment:
Bank Wire Transfer; please call for wire instructions to be emailed to you.
Check delivered to our office that held the auction
Agents for Sellers
Steffes Group, Inc. and its Employees act merely as agents for sellers. All auctions are with reserve unless specifically stated otherwise. Auctions are with undisclosed reserves unless advertised otherwise as "Absolute." Auctioneers, at their discretion, may place a reserve bid on behalf of the seller. All final bids are subject to the seller's confirmation. Only the top bidder will be contacted as to the status of his/her bid. While the information we provide on item(s) is deemed correct, no warranties are expressed or implied as to any items being sold, and you agree to purchase and accept the item in an as-is condition. Information on items is obtained by us from the sellers and you hereby agree to hold harmless Steffes Group and our Employees for any errors or omissions regarding the item(s) being sold. All items are sold As-Is-Where-Is unless specific factory or seller issued warranties are listed in the item description.
Inspection
You acknowledge that you have the right and responsibility to inspect the item(s) personally, or to have a third party representative inspect the item(s) for you. That by bidding on an item you have agreed to accept that item in its present condition at its present location and with the description provided whether accurate or not.
Auction Close
Timed-online auctions will begin to close on the date and time listed. Lots will remain open until no bids have been placed within the last 4 minutes. Timed-online auctions normally close at a rate of 3 lots every 2 minutes.
Please note that some lots can be tied together and will be set to close simultaneously. This will be indicated in those lots by a paper clip symbol. Please hover your mouse over the symbol to see what lots are tied together. The paper clip symbol means that each lot tied will stay in extension until there are no more bids on any of the lots that are tied.
Steffes Group reserves the right to close multiple lots per minute at its discretion. Upon your accepted bid of an item, that item shall immediately become your responsibility and be at your risk (whether you have paid for that item or not). You agree that Steffes Group, its employees, and its sellers are not responsible for lost, stolen or damaged items and will not reimburse or discount items for any type of loss. Buyers are responsible for any costs incurred to prepare your item(s) for transport and/or shipping. This includes, but is not necessarily limited to, the cost of any rigging, dis-assembly, special loading requirements, transport, packaging, insurance, and all other costs related to physical transfer of your item(s). You agree to remit payment and remove from the auction property any purchases within the stated time for the auction being conducted. You further understand and agree that failure to remove items in the stated time for the auction will subject you to moving and storage fees unless arrangements have been made with the seller.
Buyer Default
When using our online auction services you are making a firm commitment to purchase said item(s) and are entering into a legal and binding contract. Bids may not be cancelled or retracted for any reason.
Non-paying bidders or fraudulent bidding will subject you to legal recourse and possible criminal charges including any fraud and/or interstate commerce violations.
Internet Risk
You acknowledge that the internet may be an unreliable and error-prone network. Steffes Group will not guarantee that bids placed online will always be transmitted to or received by the auctioneer in a timely fashion. You agree to hold Steffes Group, Inc. and its employees harmless for any interruptions in online bidding. At the sole discretion of the Company, the auction may be suspended, postponed, or cancelled if internet service is unstable or disrupts the online portion of any event that is simulcast as an Internet Auction.
Further, the auctioneer has the sole discretion to accept or refuse any bid. Steffes Group retains the right, at our sole discretion, to add, delete, or change some or all of our online services and the terms and conditions governing their online auctions at any time without notice.