149± Acres – Sells in 3 Tracts

Buyer to receive 100% of the 2026 Cash Rent!

Tract 1 – 100± Acres – pending final survey

•        Approx. 98 tillable acres.
•        CSR2 is 64.2 on the tillable acres.
•        Farm has terrace & tile work completed.
•        Located in Section 2, Van Buren Township, Lee County, Iowa.
•        Part of Tax Parcels: 012712024000010, 012712024000030, 012712024000060 = $3,518.00 Approx. Net

Tract 2 – 48± Acres – pending final survey

•        Approx. 41 acres tillable, of which 11.65 acres are in CRP as follows:
  3.56 acres X $238.04 = $847.00 and expires on 9-30-2032
  6.90 acres X $190.97 = $1,318.00 and expires on 9-30-2027.
  1.19 acres X $176.00 = $209.00 and expires on 9-30-2030.
•        CSR2 is 54.8 on the tillable acres.
•        Balance of land is timber draw.
•        Located in Section 2, Van Buren Township, Lee County, Iowa.
•        Part of Tax Parcels: 012712024000010, 012712024000030,  012712024000060, 012712024000020 = $1,442.00 Approx. Net

Tract 3 – 2 Story Home & Buildings on 1± Acre – pending final survey

•        Older country home with 4 bedrooms, 1 3/4 baths, 1,825 total sq. ft. of living space on two levels, built in 1918.
•        Main level has a kitchen with adjoining dining room, separate formal dining room, living room, laundry room with ¾ bath and washer & dryer.
•        Beautiful open stairway leading to four bedrooms and a full bath.
•        Basement has a high efficient gas furnace w/ central air.  Home has Rathbun rural water and a well(condition unknown).
•        Outbuildings include: 50’x72’ Morton open faced machine shed, 24’x32’ shed, 20’x22’ detached garage, small shed.  3,400 bu. & 2,262 bu. grain bins.
• Part of Tax Parcel: 012712024000020 = $1,204.00 Approx. Net
•        Included: 1,000 LP tank, Fuel barrels, Refrigerator, Stove, Dishwasher, Washer, Dryer, Any item present on the day of final settlement/closing.
•        Not included: Tenant’s Farm Equipment

Terms: 10% down payment on March 26, 2026. Balance due at final settlement/closing with a projected date of May 11, 2026, upon delivery of merchantable abstract and deed and all objections having been met.
Possession: Projected date of May 11, 2026.  Tracts 1 & 2 are selling subject to tenant’s rights on the land for the 2026-2027 farming season, full possession March 1, 2027. Tract 3: Machine shed & grain bins full possession, March 1, 2027.
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 will have a 5% buyer’s premium. This means a 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.
•        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 to 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 or at Steffes Group’s Mt. Pleasant, IA office.  In the event the auction bidding closes after 3:00pm, the earnest money will be due the following business day.
•        Tracts 1 & 2 are selling subject to tenant’s rights on the tillable land for the 2026-2027 farming season (March 1, 2026 - February 28, 2027). Buyer shall receive 100% of the 2026 rent payment.  The first payment will be made as a credit to the Buyer at final settlement/closing, as follows: Tract 1: $11,542.99, Tract 2: $3,457.01.  The second payment due December 31, 2026 will be paid by the tenant to the Buyer, as follows: Tract 1: $14,717.41, Tract 2: $4,407.71.
•        Tract 3 machine shed and grain bins are selling subject to tenant’s rights for the 2026-2027 farming season (March 1, 2026 – February 28, 2027).  Buyer shall receive 100% of the 2026 rent payment for the machine shed and grain bins.  The payment of $800, due December 31, 2026 will be paid by the tenant to the Buyer.
•        It shall be the Buyer’s responsibility to give tenant notice of termination of the farm tenancy including machine shed & grain bins 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 tillable acres to be determined by the FSA office, as FSA field lines may overlap Tract lines.  D. CRP Prorate.
•        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.  In the event the Buyer elects to take the ground out of CRP, the Buyer will be responsible to the Seller for any prorate of the CRP payment that the Seller would have received.
•        Tracts 1, 2 & 3 will be surveyed by a licensed surveyor, at Seller’s expense.
•        Tract 1 & 2 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 price will be made accordingly at final settlement/closing.
•        Tract 3 will be sold lump sum price.  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, no adjustments to the final contract price will be made, as Tract 3 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 3 Buyer 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 Buyer’s responsibility and expense, if needed, to upgrade, repair, or any other matters to the septic system in accordance with Lee County & Iowa Laws & regulations.  Prior to final settlement/closing, the Buyer shall acquire the proper paperwork required by the Lee County Sanitarian for the septic system.
•        Tract 3 Buyer shall reimburse the Seller for the remaining LP in the LP tank on the day of final settlement/closing, at the current rate at the time of final settlement/closing.
•        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.