Bidding Opens: Tuesday, June 11th Bidding Closes: Tuesday, June 18, 2024 at 10AM
290.2 Surveyed Acres – Sells in 4 Tracts
Buyer to Receive Second Half Cash Rent Payment!
89.4 CSR2!
Auctioneer’s Note: Here is a rare chance to secure investment-grade farmland.This auction offers highly productive tracts with outstanding CSR2 ratings.Don't let this opportunity slip by—expand your farming operation or enhance your investment portfolio with premium land!
Tract 1 – 80.32 Surveyed Acres Located 1 mile west of Danville on 130th St.
FSA indicates 73.31 cropland acres.
Corn Suitability Rating 2 is 81.7 on the cropland acres.
Located in Section 8, Danville-N Township, Des Moines County, Iowa.
Tax Parcels: 09-08-400-004, 09-08-400-005 = $3,320.00 Net
Tract 3 – 88.46 Surveyed Acres Located 2.5 miles south of Mediapolis on Highway 61, then 3.5 miles west on Pleasant Grove Rd., then 0.4 miles north on 160th Ave.Or 6.6 miles north of Danville on Danville Rd., then 4 miles east on Pleasant Grove Rd., then 0.4 miles north on 160th Ave.
FSA indicates 84.67 cropland acres.
Corn Suitability Rating 2 is 89.4 on the cropland acres.
Located in Section 6, Franklin Township, Des Moines County, Iowa.
Tax Parcels: 06-06-200-004, 06-06-200-005, 06-06-400-001 = $3,446.00 Net
Terms: 10% down payment on June 18, 2024. Balance due at final settlement with a projected date of August 2, 2024, upon delivery of merchantable abstract and deed and all objections having been met. Possession:Projected date of August 2, 2024, subject to tenant’s rights on the tillable land. 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 online auction is a NO BUYER'S PREMIUM OR BUYER FEE auction.
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 real estate contracts will take place through email and electronic document signatures. In the event the auction bidding closes after 3:00pm, the down payment/earnest money will be due the following business day.
Tracts 1-4 are selling subject to tenant’s rights on the tillable land for the 2024 farming season.The Buyer will receive the second half cash rent payment due December 5, 2024 from the tenant as follows: Tract 1 = $10,037.50.(Total lease payment = $275 x 73 acres = $20,075.00) Tract 2 = $12,375.00. (Total lease payment = $275 x 90 acres = $24,750.00) Tract 3 = $11,950.00. (Total lease payment is $281 x 85 acres = $23,900.00) Tract 4 = $3,987.50. (Total lease payment = $275 x 29 acres = $7,975.00)
It shall be the obligation of the Buyer(s) to serve termination to the tenant of the tillable, prior to September 1, 2024, if so desired.
It shall be the obligation of the Buyer to report to the Des Moines County FSA office and show filed deed in order to receive the following if applicable: A. Allotted base acres. B. Any future government programs.
All Tracts will be surveyed by a licensed surveyor, at Seller’s expense.Tracts 1-4 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.
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 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: Marcia G. Cook Revocable Living Trust
Kelly Cole – Trustee William R. Jahn Jr. of Aspelmeier, Fisch, Power, Engberg & Helling, P.L.C., - Closing Attorney
For more information contact Steffes Group at 319.385.2000 or Tim Meyer at 319.750.1233 or Nate Larson at 319.931.3944
Tim Meyer - Iowa Real Estate Broker Officer - B36355000 Nate Larson - Iowa Real Estate Salesperson - S64401000 Steffes Group, Inc., 2245 East Bluegrass Road, Mt. Pleasant, IA 52641
Timed Online
Des Moines County, IA Land Auction - 290± Acres, 4 Tracts - SOLD!!
