Steffes Group Inc.
Steffes Group Inc.
Auctioneer's Note

Eddyville, IA
Tracts 1 & 2 are located 3 miles east of Eddyville on Highway 63
Tracts 3 & 4 are located 3 ½ miles east of Eddyville on Highway 63.

Bidding Opens: Thursday, November 23rd
Bidding Closes: Thursday, November 30, 2023 at 2PM

405.94 Surveyed Acres – Sells in 4 Tracts

86.8 CSR2!
Selling Free & Clear for 2024 Farming Season!

Auctioneer’s Note:  Looking for a land investment?  This timed online auction offers varying sizes of tracts boasting investment quality CSR2 ratings.  Located southeast of Eddyville, along the popular Highway 63 corridor.  The location's accessibility and prominence make it an ideal choice for investors and or farmers seeking to add to their portfolio of land investments.

Tract 1 - 241.61 Surveyed Acres


Tract 2 - 43.72 Surveyed Acres


Tract 3 - 70.23 Surveyed Acres


Tract 4 - 50.38 Surveyed Acres

Terms: 10% down payment on November 30, 2023. Balance due at final settlement with a projected date of January 23, 2024, upon delivery of merchantable abstract and deed and all objections having been met.
Possession: Projected date of January 23, 2024.
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 – Tax Parcels: 003091020171000, 003091110372000, 003091030172000, 003091140373000, 003091030173000, 003091140176000, Part 003091030174000, 003091140177000, Part 003091520178000 = $5,943.00 Approx.
Tract 2 – Tax Parcels: Part 003091030174000, Part 003091520178000, 003091520179000 = $1,141.00 Approx.
Tract 3 – Tax Parcels: Part 003091440162000, 003091440161000, 003091440163000 = $1,846.00 Approx.
Tract 4 – Tax Parcels: Part 003091440162000, 003091440164000 = $1,332.00      Approx.

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.
  •        It shall be the obligation of the Buyer to report to the Wapello 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 will be determined by the FSA office, as tract lines may overlap field lines.
  •        All Tracts are selling free and clear for the 2024 farming season.
  •        All Tracts will be surveyed by a licensed surveyor, at Seller’s expense. All Tracts 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.
  •        This real estate auction is selling subject to final approval of the survey and subdivision requirements of the city & county, if required.
  •        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 to Buyer 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 the day of sale take precedence over advertising.

Seller: Donald Maloy Estate
Connie Davis & Randal Maloy – Co-Executors
Greg A. Life – Closing Attorney

For more information contact Tim Meyer of Steffes Group Inc. at 319.385.2000 or 319.750.1233.

Tim Meyer - Iowa Real Estate Broker Officer - B36355000
Steffes Group, Inc., 2245 East Bluegrass Road, Mt. Pleasant, IA 52641